Moody's Investors Service has downgraded the insurance financial strength ratings of Genworth Financial, Inc.'s life insurance operating subsidiaries to A1 from Aa3 after Genworth announced a third-quarter loss of $258 million.

The rating agency also downgraded Genworth's senior debt from A2 to Baa1, and said the downgrade "concludes the review that was initiated on September 30."

For the life insurance subsidiaries, Moody's said earnings capacity and internal capital generation for the company have been constrained because of significant credit losses in the company's structured investment portfolio and financial institutions securities, and also, to a lesser extent, weak equity markets.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.