Shares of Genworth Financial Inc. plummeted Monday, as investors responded to last week's news that the struggling life insurer is ineligible to participate in the Treasury's Troubled Asset Relief Program (Tarp) after missing a deadline the Treasury won't extend, the Wall Street Journal reports.

In afternoon trading, according to a Reuters report, Genworth's shares were down 58 cents, or 21.1%, at $2.17 on the New York Stock Exchange, after earlier falling as much as 30.5% to $1.91.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access