Genworth says file-share hack won't impact business

Genworth Financial Inc. (GNW) said late Thursday it does not believe a security issue involving a file-transfer system has had a material effect on its business. In a filing with the Securities and Exchange Commission late Thursday, Genworth said PBI Research Services, one of the insurer's vendors, alerted the company of the recent hack of MOVEit, a file sharing tool PBI uses The company said it "believes that the personal information of a significant number of insurance policyholders or other customers of its life insurance businesses was unlawfully accessed, and is working to ensure that protection services are provided to those impacted individuals on any of the company's information systems, including its financial systems, and that there has not been any material interruption of the company's business operations." Genworth said its Enact mortgage insurance business was not affected. "While the company is continuing to measure the impact, including certain remediation expenses and other potential liabilities, the company does not currently believe this incident will have a material adverse effect on its business, operations, or financial results." California pension officials said earlier Thursday that the personal information of about 769,000 retired state employees may have been compromised in the MOVEit hack. Genworth shares were flat after hours, following a 1.6% decline to close at $4.97.

-Wallace Witkowski

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06-22-23 1706ET

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