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Clarification: Genworth ratings story
(AP)
AP - In a story Aug. 6 about Genworth Financial Inc., The Associated Press reported that Fitch estimates Genworth%27s life insurance companies will lose $800 million over the next 12 to 18 months, but that they are manageable because of the company%27s capital base and statutory earnings. The story should have specified that Fitch%27s projections involved a stress scenario, and that the potential $800 million in losses would be investment losses. |
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