by John Darer CLU ChFC CSSC
Merger of Genworth subsidiaries to simplify corporate structure
Just a heads-up for structured settlement annuitants getting payments from First Colony Life Insurance Company, American Mayflower Life Insurance Company of New York, and Federal Home Life: parent company Genworth Financial Inc. announced it will merge these three life insurance companies into existing Genworth-branded insurance companies, effective January 1, 2007, to streamline its corporate structure. In a statement, the company said:
- First Colony Life Insurance Company and Federal Home Life Insurance Company will merge into Genworth Life and Annuity Insurance Company.
- American Mayflower Life Insurance Company of New York will merge into Genworth Life Insurance Company of New York.
All of the Genworth life companies ceased writing structured settlements earlier this year.
- Genworth Stops Writing New Structured Settlements August 25, 2006 August 16, 2006
- Genworth Life Companies: Recent Merger Updates – Structured Settlements 4Real®Blog July 6, 2006
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