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Canada's Manulife may sell US assets; Genworth renews deal application

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Canada's Manulife may sell US assets; Genworth renews deal application

Manulife Financial Corp. could divest its U.S. assets, including variable annuity and long-term care businesses, Reuters reported.

Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd.refiled their joint application with the Committee on Foreign Investment in the U.S. as it relates to their ongoing acquisition. The company reported fourth-quarter 2017 adjusted operating income of $326 million, or 65 cents per share, compared to an adjusted operating loss of $137 million, or 27 cents per share, a year ago. The insurer will conduct a call later today to discuss its earnings, which will be its first since November 2016.

In more earnings news, Humana Inc.'s adjusted consolidated pretax income for the fourth quarter of 2017 declined year over year to $576 million from $694 million, primarily due to lower earnings in the retail and healthcare services segments.

Click here to read earnings reports released yesterday by select insurance companies.

Andy Slavitt, who served as a health official in the Obama administration, has brought together a high-profile group of public figures to advocate for policies that lower healthcare costs and improve access, Bloomberg News reported. Slavitt will head United States of Care, a newly created bipartisan organization that includes top hospital executives and former lawmakers.

Subsidiaries of Scottish Re Group Ltd. have taken steps to ensure the company's U.S.-domiciled life reinsurance business, which assumed billions of dollars in life insurance and annuity reserves from unaffiliated domestic third parties as of year-end 2016, remains in good standing with its primary regulator.

Assured Guaranty Ltd.'s emergence as the entity to which Syncora Guarantee Inc. will reinsure the vast majority of its financial guaranty business comes as little surprise given its history and management's openness to the pursuit of additional acquisitions.

Featured news

GSK, Sanofi, Gilead report results; AstraZeneca heart drug cuts death risk: GlaxoSmithKline said 2018 earnings could slip if an Advair generic comes to market; and AstraZeneca said its heart drug Brilinta reduced the risk of major adverse heart events in heart attack survivors.

Financial news in other parts of the world

Asia-Pacific: CBA H1 profit falls; ICICI Securities gets IPO nod

Europe: Profits rise for RBI, ABN AMRO; Hannover Re ups 2017 net income target

Middle East & Africa: Saudi Arabia's NCB posts YOY rise in Q4'17 profit; Kenya eyes 1st green bond

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng fell 0.89%% to 30,323.20, while the Nikkei 225 climbed 0.16% to 21,645.37.

In Europe, around midday, the FTSE 100 rose 0.69% to 7,190.61 and the Euronext 100 climbed 0.65% to 1,003.85.

On the macro front

The MBA Mortgage Applications report and the EIA Petroleum Status report are due out today.