Long term care insurance review gives Genworth stock a slap in the face

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The reaction from Wall Street was far from positive as the company looks into its claims reserves. When Genworth Financial Inc. announced that it would be reviewing the adequacy of their claims reserves with regards to their long term care insurance business, the reaction from Wall Street was to send the company’s stock tumbling. The company has already reported that it had experienced a drop in its operating profits in the second quarter. In fact, the long term care insurance company’s stock fell by 14 percent, bringing it down $2.28…

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