RICHMOND, Va., Jan. 31, 2014 /PRNewswire/ -- Genworth Financial, Inc. (NYSE :GNW ) announces that it has named James Boyle president and chief executive officer of its U.S. Life Insurance Division (USLI) and executive vice president of the company. He will join Genworth on January 31, 2014.
With more than 30 years in insurance and financial services, Boyle has held a number of leadership positions at ManuLife Financial Corporation. Most recently, he was president of John Hancock Financial Services Inc.—the company's U.S. division—which included life and long term care insurance, mutual funds and retirement plans, and its independent broker-dealer network. Previously, Boyle was president of John Hancock's U.S. Insurance company, as well as its U.S. Wealth Management company. He also served on the Board of Directors of John Hancock Trust and John Hancock Funds.
During his tenure, he led the transformation of the organizations, executing extensive capital, pricing, product line, and portfolio restructurings to return the businesses' earnings from economic crisis levels to near pre-recession highs. Ultimately, he created industry-leading positions in key areas while building John Hancock's reputation and growth potential.
"We're delighted that Jim will be joining Genworth, bringing important experience and expertise as we work to turn around our USLI Division and our life insurance, long term care insurance, and annuities businesses," said Tom McInerney, Genworth's president and chief executive officer. "He will work with our USLI senior leadership team to continue to improve the profitability, financial strength, and capital generation of the division, and help accelerate the businesses' return to growth."
Boyle holds a B.S. in Accounting, cum laude, from Boston College.
About Genworth Financial
Genworth Financial, Inc. (NYSE :GNW ) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement--including life insurance, long term care insurance, and financial protection coverages--and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.
Genworth operates through three divisions: U.S. Life Insurance, which includes life insurance, long term care insurance and fixed annuities; Global Mortgage Insurance, containing U.S. Mortgage Insurance and International Mortgage Insurance segments; and the Corporate and Other division, which includes the International Protection and Runoff segments. Products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth, headquartered in Richmond, Virginia, traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com.
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SOURCE Genworth Financial, Inc.