Genworth Financial, Inc.: Genworth Issues Statement on Court of Appeal Ruling Against AXA in UK Payment Protection Insurance Case
Genworth Financial (GNW) responded to a UK Court of Appeal ruling against AXA in a case involving Santander, related to mis-sold Payment Protection Insurance (PPI) policies. The court found Santander not liable for most of AXA's losses. Genworth, which sold the policies to AXA in 2015, stated it remains focused on its strategic priorities and has not factored any recoveries from the case into its capital plans. The company is evaluating next steps, including potential appeals.
