(Bloomberg) -- Genworth Financial Inc., the insurer weighing a breakup after steep losses on policies covering long- term medical care, is seeking buyers for a life and annuity unit, according to people familiar with the matter.

The firm is working with Goldman Sachs Group Inc. on a sale of Genworth Life and Annuity InsuranceCo., or GLAIC, said the people, who asked not to be identified because the matter isn’t public.

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