Filed Under:Markets, Company News

Genworth elects former Sen. Conrad to board

In this Sept. 28, 2010 file photo, Senate Budget Committee Chairman Sen. Kent Conrad, D-N.D. presides over a hearing on Capitol Hill in Washington. (AP Photo/Alex Brandon, File)
In this Sept. 28, 2010 file photo, Senate Budget Committee Chairman Sen. Kent Conrad, D-N.D. presides over a hearing on Capitol Hill in Washington. (AP Photo/Alex Brandon, File)

RICHMOND, Va. (AP) - Genworth Financial Inc. has elected former Sen. Kent Conrad to serve as a new independent director, the insurance holding company said Friday.

Conrad, 65, served as a senator representing North Dakota from January 1987 to January 2013. He was chairman of the Senate Budget Committee. Before being elected to Congress, Conrad was the North Dakota tax commissioner from 1981 to 1986.

Genworth said that Kent's budgetary and public policy experience will provide invaluable insights to the company.

Conrad's election to Genworth's board of directors increases its size from nine to 10 directors.

Genworth, based in Richmond, Va., provides life insurance, mortgage insurance and wealth management services through its subsidiaries.

Shares increased 4 cents to $10.05, in line with broader market trends.

 

For more on Genworth, see:

NAIC names top 25 life carriers by market share

Genworth to suspend California LTCI sales March 21

Genworth LTCI unit turns profit

Copyright 2015 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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