Richmond, Va.-based mortgage insurer Genworth Financial announced it has reached an agreement to sell its Genworth Seguros Mexico, S.A. de C.V. holding to HDI-Gerling International Holding AG.
The companies did not release a price for the sale which includes the automobile, property and casualty, life and personal accident insurance business lines that Seguros, based in Leon, Mexico, distributes through independent professional insurance agents. HDI-Gerling is headquartered in Hanover, Germany.
“This transaction allows Genworth to focus on its core businesses in Mexico–specifically, lifestyle protection insurance and mortgage insurance,” said Alejandro Rivero-Andreu, president of Genworth Financial in Mexico.
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