Genworth Financial Inc., which recently said that its long-pending deal with China Oceanwide Holdings Ltd. is facing further delay, will probably limit its commentary during its earnings call to its near-term plans to address its 2021 debt maturities, and perhaps offer some detail around a potential partial IPO of its U.S. mortgage insurance business, Esterov said. Looking to the future, S&P Global Ratings said in a note that 2021 will be a "tough year" for the life insurance companies it rates, although the insurers are expected to be able to navigate through obstacles without sustaining a "significant negative impact" on credit quality. "In our view, life insurers will continue to deal with investment portfolio stress, muted earnings, challenges to distribution and elevated mortality claims," the release said.