Genworth Life & Annuity Insurance Company

Genworth Life & Annuity Insurance Company
6610 West Broad Street
Richmond, VA 23230

Through the years, Genworth Life and Annuity Insurance Company has been helping people secure their lives and achieve their ultimate goals of financial freedom. Through its diverse insurance portfolio, as well as the other services that it offers such as wealth management and retirement solutions, the company aims to improve the financial lives of their customers and their families without straying from its corporate values of heart, integrity, and excellence. These values continue to guide the company’s strategic decisions well into the future.

Founded in 1871 as the Life Insurance Company of Virginia, Genworth is organized as a stock life insurance company. It offers a wide range of products to suit their customers’ every need. The company is divided primarily into two segments: the Protection segment, and the Retirement Income and Institutional segment. The Protection segment is what the company is most known for; it includes term life insurance, universal life insurance and Medicare supplement insurance to help provide financial security to those who are left behind. Universal life insurance is a more flexible type of life insurance that not only assures the family of death benefits but also the opportunity to accrue tax-deferred cash value. Medicare supplement insurance can help the customer pay for costs that Medicare normally does not cover. The Retirement Income and Institutional segment, on the other hand, offers different kinds of options for wealth accumulation, distribution of income, and fixed and variable annuities, both for individuals and groups. Genworth generally uses its network of independent agents nationwide in order to reach existing and potential customers.

Genworth Life and Annuity Insurance Company operates in all states except for New York. Its key executives include Chairman of the Board Pamela Schutz, chief financial officer and senior vice president Kelly Groh, SVP Frank Gencarelli, chief actuary Paul Haley, and SVP Rose Hampton. It is a subsidiary of Genworth Financial, a publicly traded financial services organization that has presence in over 25 countries worldwide. A Fortune 500 company, Genworth Financial maintains over $100 billion in assets. It is also included in Standard and Poor’s 500 Index of Leading U.S. Companies. Its global chief executive officer is Michael Fraizer.

Aside from providing financial services, Genworth’s non-profit arm, the Genworth Foundation, was put up to help build strong communities in all the countries that the company has offices in. Every year, the foundation supplies grants and matching gifts to like-minded institutions and communities that are involved in education, caring for the elderly, and basic needs support, especially during moments of economic problems and emergency.

With an estimated annual revenue of $1,687,000,000, Genworth remains one of the top insurance companies in the United States. In keeping with the company’s commitment to integrity at all levels, all 1,200 people employed by Genworth subscribe to the company’s Code of Ethics. This code highlights the importance of fostering honest and transparent customer relations, abiding by business laws and regulations, creating a safe workplace and protecting the environment. This is meant to remind all members of the Genworth community to always put “Integrity First” in everything they do.