Genworth Financial Mexico will make an initial investment of 330 million pesos ($30 million) to start its mortgage insurance operation, headquartered in Mexico City.

"This is a very important step for us in Mexico. With this license, we will be able to offer our services to more lenders, which will benefit a greater number of Mexicans," Rivero said. "With mortgage insurance, they will be able to buy homes -- some with no down payment at all -- to achieve the dream of homeownership."

Genworth is the leading global provider of mortgage insurance, with operations in the United States, Canada, Australia, New Zealand, Japan and 10 countries in Europe. As in Mexico, the company has been the first private provider of mortgage insurance in many international markets, expanding home ownership by helping to create or build the low down-payment home mortgage market.

"Customers around the world already benefit from our ability to share products, technology and best practices across national boundaries. We're very happy that now we're bringing them to Mexico," said Brian Hurley, president of Genworth Financial's international mortgage insurance operations.

In Mexico, Genworth also offers Payment Protection Insurance to meet monthly repayments of a financial commitment in the event of unemployment, accident/sickness or death. Genworth Financial won the tender to provide payment protection insurance to mortgage borrowers from Infonavit, Mexico's largest mortgage provider. Genworth also offers automobile, property & casualty, life and personal accident insurance through Genworth Seguros SA de CV, which is headquartered in the City of Leon. RICHMOND