A Message From Pat Foley: Wall Street Journal Correction.
On July 2, The Wall Street Journal published an article about long term care insurance rates referencing Genworth. The story, focusing on rising insurance costs, misquoted Genworth CEO Tom McInerney as stating “We’ve learned a lot over the last 30 years, and we now believe we have a better ability and more knowledge” to issue policies that “provide significant financial protection to Genworth.” This quote was inaccurately excerpted from a May interview regarding first quarter earnings.
On July 9, The Wall Street Journal issued a correction with the accurately quoting Tom as saying “providing significant consumer financial protection” while also benefiting the company.
We felt the correction was necessary to properly represent Genworth’s strategic intent. I hope this information is useful to you and your producers.
Regards,