BOSTON (AP) — Shares of Genworth Financial Inc. fell after a Credit Suisse analyst on Tuesday downgraded the stock, saying a recent rally ignores the risks that Genworth faces in its life insurance businesses, particularly in long-term care insurance.

THE SPARK: Credit Suisse's Thomas Gallagher cut his rating to "Underperform" from "Neutral".

THE BIG PICTURE: Shares of the insurance and wealth management services provider have surged more than 100 percent since early August and more than 50 percent since mid-November. The gain was fueled in part by optimism that the recovery in the U.S. housing market will improve performance at Genworth's mortgage insurance unit.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.