Genworth seeking buyers for a life and annuity unit

April 2, 2015 6:02 PM

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April 2 (Reuters) - U.S. insurer Genworth Financial Inc is seeking buyers for a life and annuity unit, Bloomberg reported, citing people familiar with the matter.

Genworth has been carrying out a restructuring plan after reporting losses of more than $1.5 billion in the past two quarters due to hefty charges to cover losses in its long-term care business.

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