Genworth Pares Mexico Insurance Holdings

US-based Genworth Financial has sold Mexico-based Genworth Seguros to HDI-Gerling International Holding for $45m. The unit being sold focuses largely on car insurance, but also offers property and casualty, life, and personal accident insurance. Genworth will continue to have a presence in Mexico, focusing on mortgage and so-called lifestyle insurance, which it considers its core businesses, company director Alejandro Rivero-Andreu tells LatinFinance. He adds that the deal was privately negotiated.