UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
November 2, 2021
Date of Report
(Date of earliest event reported)

 

GENWORTH FINANCIAL, INC.
(Exact name of registrant as specified in its charter)

 
					
Delaware	 	001-32195	 	80-0873306	
(State or other jurisdiction
of incorporation)	 	(Commission
File Number)	 	(I.R.S. Employer
Identification No.)	

6620 West Broad Street, Richmond, VA	 	23230	
(Address of principal executive offices)	 	(Zip Code)	
(804) 281-6000
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
 
☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
 
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
 
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
 
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	
Securities registered pursuant to Section 12(b) of the Act:

Title of each class	 	Trading
Symbol	 	Name of each exchange
on which registered	
Class A Common Stock, par value $.001 per share	 	GNW	 	New York Stock Exchange	
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

Item 2.02	Results of Operations and Financial Condition.	
On November 2, 2021, Genworth Financial, Inc. (the “Company”) issued (1) a press release announcing its financial results for the quarter ended September 30, 2021, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference, and (2) a financial supplement for the quarter ended September 30, 2021, a copy of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
The information contained in this Current Report on Form 8-K (including the exhibits) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the company under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information contained in this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.
 
Item 9.01	Financial Statements and Exhibits.	
The following materials are furnished as exhibits to this Current Report on Form 8-K:

Exhibit
Number	  		Description of Exhibit	
			
99.1	  	Press Release dated November 2, 2021		
			
99.2	  	Financial Supplement for the quarter ended September 30, 2021		
			
104	  	Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document)		

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	 		 	GENWORTH FINANCIAL, INC.	
				
Date: November 2, 2021	 		 	By:	 	/s/ Matthew D. Farney	
	 		 		 	Matthew D. Farney	
	 		 		 	Vice President and Controller	
	 		 		 	(Principal Accounting Officer)	

Exhibit 99.1

Genworth Financial Announces Third Quarter 2021 Results
Third Quarter Net Income of $314 Million and Adjusted Operating Income of $239 Million
 
 	•	 	Successfully completed initial public offering (IPO) of Enact Holdings, Inc. (Enact)	
 
 	•	 	Enact adjusted operating income of $134 million, with 10 percent annual growth in primary insurance in force and a 14 percent loss ratio	
 
 	•	 	Enact’s PMIERs1 sufficiency ratio estimated at 181 percent, $2,287 million above published requirements	
 
 	•	 	U.S. life insurance segment adjusted operating income of $93 million driven by long term care insurance (LTC) results benefitting from in force rate actions and net investment income	
 
 	•	 	Holding company cash and liquid assets of $638 million and $809 million of holding company debt retired	
Richmond, VA (November 2, 2021) – Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended September 30, 2021. The company reported net income2 of $314 million, or $0.61 per diluted share, in the third quarter of 2021, compared with net income of $418 million, or $0.82 per diluted share, in the third quarter of 2020. The company reported adjusted operating income3 of $239 million, or $0.46 per diluted share, in the third quarter of 2021, compared with adjusted operating income of $125 million, or $0.25 per diluted share, in the third quarter of 2020.
“Genworth delivered another quarter of strong results,” said Tom McInerney, Genworth President and CEO. “At the same time, we continued to execute against our strategic plan, including the successful completion of the Enact IPO which improved Genworth’s financial position and drove ratings improvements at both Enact and Genworth. With this critical step behind us, we have a clearer path to reduce holding company debt to a more sustainable level, which in turn will enable Genworth to pursue other strategic priorities that are aimed at creating both near-term and long-term shareholder value.”

1 	Private Mortgage Insurer Eligibility Requirements.	
2 	Unless otherwise stated, all references in this press release to net income (loss), net income (loss) per share, adjusted operating income (loss), adjusted operating income (loss) per share and book value per share should be read as net income (loss) available to Genworth’s common stockholders, net income (loss) available to Genworth’s common stockholders per diluted share, adjusted operating income (loss) available to Genworth’s common stockholders, adjusted operating income (loss) available to Genworth’s common stockholders per diluted share and book value available to Genworth’s common stockholders per share, respectively.	
3 	This is a financial measure that is not calculated based on U.S. Generally Accepted Accounting Principles (Non-GAAP). See the Use of Non-GAAP Measures section of this press release for additional information.	
 
1

Strategic Highlights
 
•	 	Completed IPO of Enact with net proceeds of $529 million to Genworth, reducing ownership of Enact from 100 percent to 81.6 percent	
 
•	 	Received ratings upgrades from Moody’s Investors Service and S&P Global Ratings following the IPO, in recognition of improvement in Genworth Holdings, Inc.’s credit risk profile and increased financial flexibility	
 
•	 	Significantly reduced holding company debt, including the retirement of the AXA S.A. (AXA) promissory note ($296 million) and AXA’s corresponding release of the 19.9% of Enact common stock pledged as collateral for the note, as well as the redemption of the remaining principal amount of the September 2021 debt maturity ($513 million)	
 
•	 	Continued progress against LTC multi-year rate action plan, with $117 million in annual premium rate increases and benefit reductions approved in the third quarter of 2021, bringing total net present value from LTC rate actions to over $16.3 billion since 2012	
Financial Performance

Consolidated Net Income & Adjusted Operating Income	 		
 	  	Three months ended September 30	 	  	 	 		
 	  	2021	 	  	2020	 	  	 	 		
	(Amounts in millions, except per share)	  	Total	 	  	Per
diluted
share	 	  	Total	 	  	Per
diluted
share	 	  	Total
% change	 	
Net income available to Genworth’s common stockholders	  	$	314	 	  	$	0.61	 	  	$	418	 	  	$	0.82	 	  	 	(25	)% 		
Adjusted operating income	  	$	239	 	  	$	0.46	 	  	$	125	 	  	$	0.25	 	  	 	91	% 		
Weighted-average diluted shares	  	 	514.2	 	  				  	 	511.5	 	  				  					

 	  	As of September 30	 	  	 	 	
 	  	2021	 	  	2020	 	  	 	 	
Book value per share	  				  	$	30.11	 	  				  	$	29.19	 	  				
Book value per share, excluding accumulated other comprehensive income (loss)	  				  	$	22.62	 	  				  	$	20.99	 	  				
On September 16, 2021, the company completed the minority IPO of 18.4 percent of its U.S. mortgage insurance business, Enact, and as a result, net income attributable to noncontrolling interests in the Enact segment was $4 million in the current quarter. The company’s net income, before noncontrolling interests in the Enact segment, was $318 million in the third quarter of 2021. The company’s adjusted operating income, before noncontrolling interests in the Enact segment, for the third quarter of 2021 was $243 million.
Net investment gains, net of taxes and other adjustments, increased net income by $70 million in the current quarter. The investment gains were primarily driven by mark-to-market gains on limited partnership investments held in the LTC business. Net income in the third quarter of 2020 included $277 million of investment gains, net of taxes and other adjustments.
 
2

Net investment income was $859 million in the quarter, compared to $844 million in the prior quarter and $820 million in the prior year. Net investment income was higher than the prior quarter and prior year as a result of higher variable investment income, including income from limited partnerships, bond calls, commercial mortgage loan prepayments and the inflation impact on Treasury Inflation-Protected Securities (TIPS), primarily in the LTC business. The reported yield and the core yield3 for the quarter were 5.19 percent and 4.95 percent, respectively, compared to 5.11 percent and 4.85 percent, respectively, in the prior quarter.
Genworth’s effective tax rate on income from continuing operations for the current quarter was approximately 18 percent. The effective tax rate was favorably impacted by higher tax benefits from a reduction in uncertain tax positions due to the expiration of certain statute of limitations, partially offset by the tax effect of forward starting swap gains settled prior to the change in the corporate tax rate under the 2017 Tax Cuts and Jobs Act, which continue to be tax effected at 35 percent as they are amortized into net investment income.
The below table shows adjusted operating income (loss) by segment and for Corporate and Other activities:

Adjusted Operating Income (Loss)	
(Amounts in millions)	  	Q3 21	 	  	Q2 21	 	  	Q3 20	 	
Enact	  	$	134	 	  	$	135	 	  	$	141	 		
U.S. Life Insurance	  	 	93	 	  	 	71	 	  	 	14	 		
Runoff	  	 	11	 	  	 	15	 	  	 	19	 		
Corporate and Other	  	 	1	 	  	 	(27	) 	  	 	(49	) 		
	  	 	 	 	  	 	 	 	  	 	 	 		
Total Adjusted Operating Income	  	$	239	 	  	$	194	 	  	$	125	 		
	  	 	 	 	  	 	 	 	  	 	 	 		
Adjusted operating income (loss) represents income (loss) from continuing operations excluding the after-tax effects of income (loss) from continuing operations attributable to noncontrolling interests, net investment gains (losses), gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and other adjustments, net of taxes. A reconciliation of net income to adjusted operating income is included at the end of this press release.
Enact

Operating Metrics	
(Dollar amounts in millions)	  	Q3 21	 	 	Q2 21	 	 	Q3 20	 	
Adjusted operating income	  	$	134	 	 	$	135	 	 	$	141	 		
Primary new insurance written	  	$	24,000	 	 	$	26,700	 	 	$	26,600	 		
Loss ratio	  	 	14	% 	 	 	12	% 	 	 	18	% 		
Enact reported adjusted operating income of $134 million, compared with $135 million in the prior quarter and $141 million in the prior year. Enact’s primary insurance in force increased 10 percent versus the prior year from strong new insurance written (NIW), partially offset by low persistency. Primary NIW decreased 10 percent from the prior quarter and was also down 10 percent versus the prior year primarily from a smaller private mortgage insurance market. Earned premiums in the current quarter were flat compared to the prior quarter and lower than the prior year as insurance in force growth was offset by a decrease in single premium policy cancellations, the continued lapse of older, higher priced policies and higher ceded premiums. In addition, interest expense was higher in the current quarter versus the prior year from a full quarter’s interest expense on the August 2020 debt issuance.
 
3

Enact’s current quarter results reflected losses of $34 million and a loss ratio of 14 percent. Results in the prior quarter and prior year reflected losses of $30 million and $45 million, and a loss ratio of 12 percent and 18 percent, respectively. New delinquencies in the current quarter were 7,427, an increase of eight percent from 6,862 in the prior quarter driven by a seasonal increase. Current quarter new delinquencies decreased 55 percent from 16,664 in the prior year. Losses in the prior year were favorably impacted by incurred but not reported (IBNR) development of $23 million that did not recur. Despite the sequential increase in new delinquencies, the current quarter new delinquency rate of 0.8 percent remained consistent with pre-pandemic levels. Approximately 36 percent of new primary delinquencies in the current quarter were reported in forbearance plans which may cure at elevated rates.
U.S. Life Insurance

Adjusted Operating Income (Loss)	
(Amounts in millions)	  	Q3 21	 	  	Q2 21	 	  	Q3 20	 	
Long Term Care Insurance	  	$	133	 	  	$	98	 	  	$	59	 		
Life Insurance	  	 	(68	) 	  	 	(40	) 	  	 	(69	) 		
Fixed Annuities	  	 	28	 	  	 	13	 	  	 	24	 		
	  	 	 	 	  	 	 	 	  	 	 	 		
Total U.S. Life Insurance	  	$	93	 	  	$	71	 	  	$	14	 		

														
Long Term Care Insurance In Force Rate Action Performance	
(Amounts in millions)	  	Q3 21	 	  	Q2 21	 	  	Q3 20	 	
Adjusted Operating Income from In Force Rate Actions4,5	  	$	304	 	  	$	310	 	  	$	238	 		
Long Term Care Insurance
Long term care insurance reported adjusted operating income of $133 million, compared with $98 million in the prior quarter and $59 million in the prior year. Earnings from in force rate actions were more favorable than the prior year, driven primarily by higher benefit reductions, which included policyholder benefit reduction elections made as part of a legal settlement, net of litigation expenses and taxes. LTC results also reflected higher net investment income of $45 million after-tax versus the prior year and $7 million after-tax versus the prior quarter from limited partnerships, bond calls, commercial mortgage loan prepayments and gains on TIPS.

4 	Excludes reserve updates resulting from profits followed by losses.	
5 	Includes estimated premium tax, commissions, and other expenses, net of tax of $(61) million, $(69) million and $(12) million in the third quarter 2021, second quarter 2021 and third quarter 2020, respectively. Also includes estimated impacts from a legal settlement, net of tax and litigation expenses, of $48 million and $71 million in the third quarter 2021 and second quarter 2021, respectively.	
 
4

Claim and active policy terminations in the current quarter were higher compared to the prior quarter but lower compared to the prior year. Higher claim terminations in recent quarters were assumed to be driven by the COVID-19 pandemic and temporary in nature resulting in the establishment, beginning in the fourth quarter of 2020, of a temporary COVID-19 mortality adjustment assuming that the company’s mortality experience on the most vulnerable claimants was accelerated, leaving its overall claim population less likely to terminate compared to the pre-pandemic average population. In the current quarter, the company made minimal adjustments to this reserve, leaving a pre-tax balance of $142 million as of September 30, 2021. As the COVID-19 pandemic continues to develop, short-term mortality experience may fluctuate, and the company would increase or decrease the COVID-19 mortality adjustment accordingly.
New claim incidence increased versus the prior quarter but has remained lower than pre-pandemic levels. With the historically low new claim incidence, favorable development on IBNR claim reserves has continued, but to a lesser extent. Since the second quarter of 2020, IBNR has been strengthened to reflect the company’s assumption that incidence during the COVID-19 pandemic has been temporarily delayed. In the current quarter, given the increase in incidence, IBNR was reduced by $17 million after-tax, compared to a strengthening of $19 million after-tax in the prior year.
Life Insurance
Life insurance reported an adjusted operating loss of $68 million, compared with adjusted operating losses of $40 million in the prior quarter and $69 million in the prior year. Mortality, attributable in part to the COVID-19 pandemic, was higher compared to both the prior quarter and the prior year. Current quarter results also included a $30 million after-tax charge related to recoverability testing for deferred acquisition costs (DAC) in the company’s universal life insurance products versus a $13 million after-tax charge related to these products in the prior quarter. Results in the prior year reflected higher DAC amortization compared to the current year, as the large 20-year level-premium term life insurance block written at the end of 2000 entered its post-level premium period, as well as higher reserve increases during the premium grace period in the 10-year term universal life insurance block associated with policies entering the post-level premium period.
Fixed Annuities
Fixed annuities reported adjusted operating income of $28 million, compared with $13 million in the prior quarter and $24 million in the prior year. Results in the current quarter reflected a reduction in fixed indexed annuity reserves from higher interest rates. Mortality in the single premium immediate annuity product was favorable versus the prior quarter but unfavorable versus the prior year.
 
5

Runoff
Runoff reported adjusted operating income of $11 million, compared with $15 million in the prior quarter and $19 million in the prior year. Current quarter results in the variable annuity products were unfavorable compared to both the prior quarter and the prior year from equity market performance. Mortality experience in the corporate-owned life insurance business was also higher in the current quarter.
Corporate And Other
Corporate and Other reported adjusted operating income of $1 million, compared to adjusted operating losses of $27 million in the prior quarter and $49 million in the prior year. Results in the current quarter included tax benefits of $21 million from a reduction in uncertain tax positions due to the expiration of certain statute of limitations. Interest expense was also lower in the current quarter from the reduction of holding company debt.
Capital & Liquidity
Genworth maintains the following capital positions in its operating subsidiaries:

Key Capital & Liquidity Metrics	
(Dollar amounts in millions)	  	Q3 21	 	 	Q2 21	 	 	Q3 20	 	
Enact	  				 				 					
Consolidated Risk-To-Capital Ratio6	  	 	11.8:1	 	 	 	11.8:1	 	 	 	12.1:1	 		
Genworth Mortgage Insurance Corporation Risk-To-Capital Ratio6	  	 	11.9:1	 	 	 	12.0:1	 	 	 	12.3:1	 		
Private Mortgage Insurer Eligibility Requirements (PMIERs) Sufficiency Ratio6,7	  	 	181	% 	 	 	165	% 	 	 	132	% 		
U.S. Life Insurance Companies	  				 				 					
Consolidated Risk-Based Capital (RBC) Ratio6	  	 	290	% 	 	 	272	% 	 	 	239	% 		
Holding Company Cash and Liquid Assets8,9	  	$	638	 	 	$	842	 	 	$	814	 		
Key Points
 
 	•	 	Enact’s PMIERs sufficiency ratio is estimated to be 181 percent, $2,287 million above published PMIERs requirements10. The PMIERs sufficiency ratio was up sixteen points, or $346 million, sequentially, driven in part by the completion of an insurance linked notes transaction, which added $372 million of additional PMIERs capital credit as of September 30, 2021, elevated lapse from prevailing low interest rates, business cash flows and lower delinquencies, partially offset by NIW and amortization of existing reinsurance transactions;	

6 	Company estimate for the third quarter of 2021 due to timing of the preparation and filing of statutory statements.	
7 	The PMIERs sufficiency ratio is calculated as available assets divided by required assets as defined within the published PMIERs. As of September 30, 2021, June 30, 2021 and September 30, 2020, the PMIERs sufficiency ratios were $2,287 million, $1,941 million and $1,074 million, respectively, of available assets above the published PMIERs requirements.	
8 	Holding company cash and liquid assets comprises assets held in Genworth Holdings, Inc. (the issuer of outstanding public debt) which is a wholly-owned subsidiary of Genworth Financial, Inc.	
9 	Genworth Holdings, Inc. had $588 million, $742 million and $814 million of cash, cash equivalents and restricted cash as of September 30, 2021, June 30, 2021 and September 30, 2020, respectively, which included $74 million of restricted cash and cash equivalents as of September 30, 2020. Genworth Holdings, Inc. also held $50 million and $100 million in U.S. government securities as of September 30, 2021 and June 30, 2021, respectively, which included $3 million and $19 million, respectively, of restricted assets.	
10 	The GSEs have imposed certain capital restrictions on the Enact business which remain in effect until certain conditions are met. These restrictions currently require Genworth Mortgage Insurance Corporation, the company’s principal U.S. mortgage insurance subsidiary, to maintain 115 percent of PMIERs minimum required assets among other restrictions.	
 
6

 	•	 	PMIERs sufficiency benefited from a 0.30 multiplier applied to the risk based required asset factor for certain non-performing loans, which resulted in a reduction of the published PMIERs required assets by an estimated $570 million at the end of the current quarter, compared to $760 million at the end of the prior quarter and $1,217 million at the end of the third quarter 2020. These amounts are gross of incremental reinsurance benefits from the elimination of the 0.30 multiplier;	
 
 	•	 	U.S. life insurance companies’ consolidated statutory risk-based capital is estimated to be 290 percent, up from the prior quarter primarily from LTC earnings driven by premium rate increases and benefit reductions, including the impacts from a legal settlement, favorable investment performance, and favorable claim and active policy terminations; and	
 
 	•	 	The holding company ended the quarter with $638 million of cash and liquid assets, including $3 million that is restricted. Cash sources in the quarter included $529 million of net proceeds from the execution of the minority IPO of Enact and cash tax inflows of $96 million from intercompany tax arrangements. During the current quarter, the company redeemed all of its remaining $513 million of outstanding principal due in September 2021 for approximately $532 million, which included the principal amount, a make-whole premium and accrued and unpaid interest. In addition, the AXA promissory note of $296 million was fully retired following the Enact IPO. The parent holding company public debt outstanding was $1.7 billion as of September 30, 2021.	
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 provider of products, services and solutions that help families address the financial challenges of aging. Headquartered in Richmond, Virginia, Genworth applies its nearly 150 years of experience each day to helping people navigate caregiving options and fund their long term care needs. Genworth is also the parent company of publicly traded Enact (Nasdaq: ACT), a leading U.S. mortgage insurance provider. For more information on Genworth, visit genworth.com. From time to time Enact separately releases financial and other information about its operations. This information can be found at ir.enactmi.com.
From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the “Investors” section of genworth.com.
 
7

Conference Call And Financial Supplement Information
This press release and the third quarter 2021 financial supplement are now posted on the company’s website. Additional information regarding business results will be posted on the company’s website, http://investor.genworth.com, by 8:00 a.m. on November 3, 2021. Investors are encouraged to review these materials.
Genworth will conduct a conference call on November 3, 2021 at 9:00 a.m. (ET) to discuss the quarter’s results. Genworth’s conference call will be accessible via telephone and the Internet. The dial-in number for Genworth’s November 3rd conference call is 888-208-1820 or 323-794-2110 (outside the U.S.); conference ID # 2955563. To participate in the call by webcast, register at http://investor.genworth.com at least 15 minutes prior to the webcast to download and install any necessary software.
A replay of the call will be available at 888-203-1112 or 719-457-0820 (outside the U.S.); conference ID # 2955563 through November 17, 2021. The webcast will also be archived on the company’s website for one year.
Prior to Genworth’s conference call, Enact will hold a conference call on November 3, 2021 at 8:00 a.m. (ET) to discuss its results from the third quarter. Enact’s conference call will be accessible via telephone and the Internet. Enact’s November 3rd conference call is 833-730-3978 or 720-405-2123 (outside the U.S.); conference ID # 8756793. To participate in the call by webcast, register at http://ir.enactmi.com/news-and-events/events at least 15 minutes prior to the webcast to download and install any necessary software.
 
8

Use of Non-GAAP Measures
This press release includes the non-GAAP financial measures entitled “adjusted operating income (loss)” and “adjusted operating income (loss) per share.” Adjusted operating income (loss) per share is derived from adjusted operating income (loss). The chief operating decision maker evaluates segment performance and allocates resources on the basis of adjusted operating income (loss). The company defines adjusted operating income (loss) as income (loss) from continuing operations excluding the after-tax effects of income (loss) from continuing operations attributable to noncontrolling interests, net investment gains (losses), gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and infrequent or unusual non-operating items. Gains (losses) on insurance block transactions are defined as gains (losses) on the early extinguishment of non-recourse funding obligations, early termination fees for other financing restructuring and/or resulting gains (losses) on reinsurance restructuring for certain blocks of business. The company excludes net investment gains (losses) and infrequent or unusual non-operating items because the company does not consider them to be related to the operating performance of the company’s segments and Corporate and Other activities. A component of the company’s net investment gains (losses) is the result of estimated future credit losses, the size and timing of which can vary significantly depending on market credit cycles. In addition, the size and timing of other investment gains (losses) can be subject to the company’s discretion and are influenced by market opportunities, as well as asset-liability matching considerations. Gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions and restructuring costs are also excluded from adjusted operating income (loss) because, in the company’s opinion, they are not indicative of overall operating trends. Infrequent or unusual non-operating items are also excluded from adjusted operating income (loss) if, in the company’s opinion, they are not indicative of overall operating trends.
While some of these items may be significant components of net income (loss) available to Genworth Financial, Inc.’s common stockholders in accordance with U.S. GAAP, the company believes that adjusted operating income (loss) and measures that are derived from or incorporate adjusted operating income (loss), including adjusted operating income (loss) per share on a basic and diluted basis, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses adjusted operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. However, the items excluded from adjusted operating income (loss) have occurred in the past and could, and in some cases will, recur in the future. Adjusted operating income (loss) and adjusted operating income (loss) per share on a basic and diluted basis are not substitutes for net income (loss) available to Genworth Financial, Inc.’s common stockholders or net income (loss) available to Genworth Financial, Inc.’s common stockholders per share on a basic and diluted basis determined in accordance with U.S. GAAP. In addition, the company’s definition of adjusted operating income (loss) may differ from the definitions used by other companies.
Adjustments to reconcile net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) assume a 21 percent tax rate and are net of the portion attributable to noncontrolling interests. Net investment gains (losses) are also adjusted for DAC and other intangible amortization and certain benefit reserves.
In the third quarter of 2021, the company paid a pre-tax make-whole premium of $6 million related to the early redemption of Genworth Holdings, Inc.’s senior notes originally scheduled to mature in September 2021. This transaction was excluded from adjusted operating income (loss) as it relates to gains (losses) on the early extinguishment of debt.
The company recorded a pre-tax expense of $3 million and $5 million in the third and second quarters of 2021, respectively, related to restructuring costs as it continues to evaluate and appropriately size its organizational needs and expenses. There were no infrequent or unusual items excluded from adjusted operating income (loss) during the periods presented.
 
9

The tables at the end of this press release provide a reconciliation of net income available to Genworth Financial, Inc.’s common stockholders to adjusted operating income for the three months ended September 30, 2021 and 2020, as well as for the three months ended June 30, 2021, and reflect adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting.
This press release includes the non-GAAP financial measure entitled “core yield” as a measure of investment yield. The company defines core yield as the investment yield adjusted for items that do not reflect the underlying performance of the investment portfolio. Management believes that analysis of core yield enhances understanding of the investment yield of the company. However, core yield is not a substitute for investment yield determined in accordance with U.S. GAAP. In addition, the company’s definition of core yield may differ from the definitions used by other companies. A reconciliation of reported U.S. GAAP yield to core yield is included in a table at the end of this press release.
 
10

Definition of Selected Operating Performance Measures
The company taxes its businesses at the U.S. corporate federal income tax rate of 21 percent. Each segment is then adjusted to reflect the unique tax attributes of that segment such as permanent differences between U.S. GAAP and tax law. The difference between the consolidated provision for income taxes and the sum of the provision for income taxes in each segment is reflected in Corporate and Other activities.
The annually-determined tax rates and adjustments to each segment’s provision for income taxes are estimates which are subject to review and could change from year to year.
The company reports selected operating performance measures including “sales” and “insurance in force” or “risk in force” which are commonly used in the insurance industry as measures of operating performance.
Management regularly monitors and reports sales metrics as a measure of volume of new business generated in a period. Sales refer to new insurance written for mortgage insurance products included in the company’s Enact segment. The company considers new insurance written to be a measure of the company’s operating performance because it represents a measure of new sales of insurance policies during a specified period, rather than a measure of the company’s revenues or profitability during that period.
Management regularly monitors and reports insurance in force and risk in force for the company’s Enact segment. Insurance in force is a measure of the aggregate unpaid principal balance as of the respective reporting date for loans the company insures. Risk in force is based on the coverage percentage applied to the estimated current outstanding loan balance. The company considers insurance in force and risk in force to be measures of its operating performance because they represent measures of the size of its business at a specific date which will generate revenues and profits in a future period, rather than measures of its revenues or profitability during that period.
Management also regularly monitors and reports a loss ratio for the company’s businesses. For the company’s Enact segment, the loss ratio is the ratio of benefits and other changes in policy reserves to net earned premiums. For the long term care insurance business included in the company’s U.S. Life Insurance segment, the loss ratio is the ratio of benefits and other changes in reserves less tabular interest on reserves less loss adjustment expenses to net earned premiums. The company considers the loss ratio to be a measure of underwriting performance in these businesses and helps to enhance the understanding of the operating performance of the businesses.
Management also regularly monitors and reports adjusted operating income from in force rate actions in the long term care insurance business included in the company’s U.S. Life Insurance segment. Adjusted operating income from in force rate actions includes premium rate increases and associated benefit reductions on its long term care insurance products implemented since 2012, which are net of estimated premium tax, commissions, and other expenses on an after-tax basis. Estimates for in force rate actions reflect certain simplifying assumptions that may vary materially from actual historical results, including but not limited to a uniform rate of coinsurance and premium taxes in addition to consistent policyholder behavior over time. Actual behavior may differ significantly from these assumptions. In addition, estimates exclude reserve updates resulting from profits followed by losses. The company considers adjusted operating income from in force rate actions to be a measure of its operating performance because it helps bring older generation long term care insurance blocks closer to a break-even point over time and helps bring the loss ratios on newer long term care insurance blocks back towards their original pricing.
These operating performance measures enable the company to compare its operating performance across periods without regard to revenues or profitability related to policies or contracts sold in prior periods or from investments or other sources.
 
11

Cautionary Note Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company’s future business and financial performance. Examples of forward-looking statements include statements the company makes relating to future reductions of debt, potential dividends or share repurchases, and future strategic investments, including a new long term care insurance joint venture, as well as statements the company makes regarding the potential impacts of the COVID-19 pandemic. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially from those in the forward-looking statements due to global political, economic, business, competitive, market, regulatory and other factors and risks, including, but not limited to, the following:
 
 	•	 	the company may be unable to successfully execute its strategic plans including: reducing the company’s debt maturities and other near-term liabilities and financial obligations, reducing costs, stabilizing its U.S. life insurance businesses without additional capital contributions, improving overall capital and ratings; establishing a new long term care insurance joint venture with a strategic partner; an inability to establish new long term care insurance business or product offerings due to commercial and/or regulatory challenges; the company’s inability to attract buyers for any businesses or other assets it may seek to sell, or securities it may seek to issue in each case, in a timely manner and on anticipated terms; an inability to increase the capital needed in the company’s businesses in a timely manner and on anticipated terms, including through improved business performance, reinsurance or similar transactions, asset sales, debt issuances, securities offerings or otherwise, in each case as and when required; the company’s challenges changing or being more costly or difficult to successfully address than currently anticipated or the benefits achieved being less than anticipated; an inability to achieve anticipated cost-savings in a timely manner; and adverse tax or accounting charges;	
 
 	•	 	risks relating to estimates, assumptions and valuations including: inadequate reserves and the need to increase reserves (including as a result of any changes the company may make to its assumptions, methodologies or otherwise in connection with periodic or other reviews, including reviews we expect to complete and carry out in the fourth quarter of 2021); risks related to the impact of the company’s annual review of assumptions and methodologies related to its long term care insurance claim reserves and margin reviews in the fourth quarter of 2021, including risks that additional information obtained in finalizing our claim reserves and margin reviews in the fourth quarter of 2021 or other changes to assumptions or methodologies materially affect margins; or other changes to assumptions or methodologies materially affect margins; the inability to accurately estimate the impacts of the COVID-19 pandemic; inaccurate models; deviations from the company’s estimates and actuarial assumptions or other reasons in its long term care insurance, life insurance and/or annuity businesses; accelerated amortization of deferred acquisition costs (DAC) and present value of future profits (PVFP) (including as a result of any changes it may make to its assumptions, methodologies or otherwise in connection with periodic or other reviews, including reviews we expect to complete and carry out in the fourth quarter of 2021); adverse impact on the company’s financial results as a result of projected profits followed by projected losses (as is currently the case with its long term care insurance business); and changes in valuation of fixed maturity and equity securities;	
 
 	•	 	liquidity, financial strength ratings, credit and counterparty risks including: the impact on holding company liquidity caused by the inability to receive dividends or other returns of capital from Enact Holdings, including as a result of the COVID-19 pandemic; continued availability of capital and financing; future adverse rating agency actions against the company or Enact Holdings, including with respect to rating downgrades or potential downgrades or being put on review for potential downgrade, all of which could have adverse implications, including with respect to key business relationships, product offerings, business results of operations, financial condition and capital needs, strategic plans, collateral obligations and availability and terms of hedging, reinsurance and borrowings; defaults by counterparties to reinsurance arrangements or derivative instruments; defaults or other	
 
12

 	events impacting the value of the company’s fixed maturity securities portfolio; defaults on the company’s commercial mortgage loans; defaults on mortgage loans or other assets underlying the company’s investments in its mortgage-backed and asset-backed securities and volatility in performance;	
 
 	•	 	risks relating to economic, market and political conditions including: downturns and volatility in global economies and equity and credit markets, including as a result of prolonged unemployment, inflation, supply chain disruptions, a sustained low interest rate environment and other displacements caused by the COVID-19 pandemic; interest rates and changes in rates have adversely impacted, and may continue to materially adversely impact, the company’s business and profitability; deterioration in economic conditions or a decline in home prices that adversely affect the company’s loss experience in the company’s Enact segment; political and economic instability or changes in government policies; and fluctuations in foreign currency exchange rates and international securities markets;	
 
 	•	 	regulatory and legal risks including: extensive regulation of the company’s businesses and changes in applicable laws and regulations (including changes to tax laws and regulations); litigation and regulatory investigations or other actions; dependence on dividends and other distributions from Enact Holdings, and the inability of any subsidiaries to pay dividends or make other distributions to the company, including as a result of the performance of its subsidiaries, heightened regulatory restrictions resulting from the COVID-19 pandemic, and other insurance, regulatory or corporate law restrictions; the inability to successfully seek in force rate action increases (including increased premiums and associated benefit reductions) in the company’s long term care insurance business, including as a result of the COVID-19 pandemic; adverse change in regulatory requirements, including risk-based capital; inability to continue to maintain the private mortgage insurer eligibility requirements (PMIERs); risks on Enact Holdings’ ability to pay its holding company dividends as a result of the government-sponsored enterprises’ (GSEs) amendments to PMIERs in response to COVID-19 or additional PMIERs requirements or other restrictions that the GSEs may place on the ability of Enact Holdings to pay dividends to its holding company; the impact on capital levels of increased delinquencies caused by the COVID-19 pandemic; inability of the company’s U.S. mortgage insurance subsidiaries to meet minimum statutory capital requirements; the influence of Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) and a small number of large mortgage lenders in the U.S. mortgage insurance market and adverse changes to the role or structure of Fannie Mae and Freddie Mac; adverse changes in regulations affecting the Enact segment; additional restrictions placed on the Enact segment by government and government-owned enterprises and the GSEs in connection with additional capital transactions; inability to continue to implement actions to mitigate the impact of statutory reserve requirements; changes in tax laws; and changes in accounting and reporting standards;	
 
 	•	 	operational risks including: the inability to retain, attract and motivate qualified employees or senior management; the impact on processes caused by shelter-in-place or other governmental restrictions imposed as a result of the COVID-19 pandemic; reliance on, and loss of, key customer or distribution relationships; the design and effectiveness of the company’s disclosure controls and procedures and internal control over financial reporting may not prevent all errors, misstatements or misrepresentations; and failure or any compromise of the security of the company’s computer systems, disaster recovery systems, business continuity plans and failures to safeguard or breaches of confidential information;	
 
 	•	 	insurance and product-related risks including: the company’s inability to increase premiums and reduce benefits sufficiently, and in a timely manner, on its in force long term care insurance policies, in each case, as currently anticipated and as may be required from time to time in the future (including as a result of a delay or failure to obtain any necessary regulatory approvals, including as a result of the COVID-19 pandemic, or unwillingness or inability of policyholders to pay increased premiums and/or accept reduced benefits), including to offset any negative impact on the company’s long term care insurance margins; availability, affordability and adequacy of reinsurance to protect the company against losses; decreases in the volume of mortgage originations or increases in mortgage insurance cancellations; increases in the use of alternatives to private mortgage insurance and reductions in the level of coverage selected; potential liabilities in connection with the company’s U.S. contract underwriting services; and medical advances, such as genetic research and diagnostic imaging, and related legislation that impact policyholder behavior in ways adverse to the company;	
 
13

 	•	 	other risks including: the occurrence of natural or man-made disasters or a pandemic, similar to the COVID-19 pandemic, could materially adversely affect its financial condition and results of operations.	
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise. This press release does not constitute an offering of any securities.
# # #
Contact Information:

Investors:	  	Tim Owens	
	  	Tim.Owens@genworth.com	
		
Media:	  	Amy Rein	
	  	Amy.Rein@genworth.com	
 
14

Condensed Consolidated Statements of Income
(Amounts in millions, except per share amounts)
(Unaudited)

 	  	Three months ended	 	  	Three months
ended	 	
 	  	September 30,	 	  	June 30,	 	
 	  	2021	 	  	2020	 	  	2021	 	
Revenues:	  				  				  				
Premiums	  	$	944	 	  	$	963	 	  	$	947	 	
Net investment income	  	 	859	 	  	 	820	 	  	 	844	 	
Net investment gains (losses)	  	 	88	 	  	 	351	 	  	 	70	 	
Policy fees and other income	  	 	179	 	  	 	184	 	  	 	180	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	2,070	 	  	 	2,318	 	  	 	2,041	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Benefits and expenses:	  				  				  				
Benefits and other changes in policy reserves	  	 	1,143	 	  	 	1,273	 	  	 	1,161	 	
Interest credited	  	 	123	 	  	 	137	 	  	 	127	 	
Acquisition and operating expenses, net of deferrals	  	 	290	 	  	 	235	 	  	 	304	 	
Amortization of deferred acquisition costs and intangibles	  	 	106	 	  	 	94	 	  	 	86	 	
Interest expense	  	 	35	 	  	 	47	 	  	 	43	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	1,697	 	  	 	1,786	 	  	 	1,721	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Income from continuing operations before income taxes	  	 	373	 	  	 	532	 	  	 	320	 	
Provision for income taxes	  	 	67	 	  	 	130	 	  	 	75	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Income from continuing operations	  	 	306	 	  	 	402	 	  	 	245	 	
Income (loss) from discontinued operations, net of taxes	  	 	12	 	  	 	34	 	  	 	(5	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Net income	  	 	318	 	  	 	436	 	  	 	240	 	
Less: net income from continuing operations attributable to noncontrolling interests	  	 	4	 	  	 	—  	 	  	 	—  	 	
Less: net income from discontinued operations attributable to noncontrolling interests	  	 	—  	 	  	 	18	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders	  	$	314	 	  	$	418	 	  	$	240	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Net income (loss) available to Genworth Financial, Inc.’s common stockholders:	  				  				  				
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders	  	$	302	 	  	$	402	 	  	$	245	 	
Income (loss) from discontinued operations available to Genworth Financial, Inc.’s common stockholders	  	 	12	 	  	 	16	 	  	 	(5	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders	  	$	314	 	  	$	418	 	  	$	240	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders per share:	  				  				  				
Basic	  	$	0.59	 	  	$	0.79	 	  	$	0.48	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Diluted	  	$	0.59	 	  	$	0.79	 	  	$	0.47	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders per share:	  				  				  				
Basic	  	$	0.62	 	  	$	0.83	 	  	$	0.47	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Diluted	  	$	0.61	 	  	$	0.82	 	  	$	0.47	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Weighted-average common shares outstanding:	  				  				  				
Basic	  	 	507.4	 	  	 	505.6	 	  	 	507.0	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Diluted	  	 	514.2	 	  	 	511.5	 	  	 	515.0	 	

15

Reconciliation of Net Income to Adjusted Operating Income
(Amounts in millions, except per share amounts)
(Unaudited)

 	  	Three
months ended	 	 	Three
months ended	 	
 	  	September 30,	 	 	June 30,	 	
 	  	2021	 	 	2020	 	 	2021	 	
Net income available to Genworth Financial, Inc.’s common stockholders	  	$	314	 	 	$	418	 	 	$	240	 	
Add: net income from continuing operations attributable to noncontrolling interests	  	 	4	 	 	 	—  	 	 	 	—  	 	
Add: net income from discontinued operations attributable to noncontrolling interests	  	 	—  	 	 	 	18	 	 	 	—  	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income	  	 	318	 	 	 	436	 	 	 	240	 	
Less: income (loss) from discontinued operations, net of taxes	  	 	12	 	 	 	34	 	 	 	(5	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	 	306	 	 	 	402	 	 	 	245	 	
Less: net income from continuing operations attributable to noncontrolling interests	  	 	4	 	 	 	—  	 	 	 	—  	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders	  	 	302	 	 	 	402	 	 	 	245	 	
Adjustments to income from continuing operations available to Genworth Financial, Inc.’s common stockholders:	  				 				 				
Net investment (gains) losses, net11	  	 	(88	) 	 	 	(350	) 	 	 	(70	) 	
(Gains) losses on early extinguishment of debt	  	 	6	 	 	 	—  	 	 	 	—  	 	
Expenses related to restructuring	  	 	3	 	 	 	—  	 	 	 	5	 	
Taxes on adjustments	  	 	16	 	 	 	73	 	 	 	14	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income	  	$	239	 	 	$	125	 	 	$	194	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income (loss):	  				 				 				
Enact segment	  	$	134	 	 	$	141	 	 	$	135	 	
U.S. Life Insurance segment:	  				 				 				
Long Term Care Insurance	  	 	133	 	 	 	59	 	 	 	98	 	
Life Insurance	  	 	(68	) 	 	 	(69	) 	 	 	(40	) 	
Fixed Annuities	  	 	28	 	 	 	24	 	 	 	13	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance segment	  	 	93	 	 	 	14	 	 	 	71	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Runoff segment	  	 	11	 	 	 	19	 	 	 	15	 	
Corporate and Other	  	 	1	 	 	 	(49	) 	 	 	(27	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income	  	$	239	 	 	$	125	 	 	$	194	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders per share:	  				 				 				
Basic	  	$	0.62	 	 	$	0.83	 	 	$	0.47	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.61	 	 	$	0.82	 	 	$	0.47	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income per share:	  				 				 				
Basic	  	$	0.47	 	 	$	0.25	 	 	$	0.38	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.46	 	 	$	0.25	 	 	$	0.38	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Weighted-average common shares outstanding:	  				 				 				
Basic	  	 	507.4	 	 	 	505.6	 	 	 	507.0	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	 	514.2	 	 	 	511.5	 	 	 	515.0	 	

 

11 	For the three months ended September 30, 2020, net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves of $1 million.	
 
16

Reconciliation of Adjusted Operating Income Previously Reported to Adjusted Operating Income
Re-Presented to Exclude Discontinued Operations
(Amounts in millions)

 	  	Three months ended
September 30,
2020	 	
Adjusted operating income as previously reported	  	$	132	 	
Remove Australia Mortgage Insurance segment adjusted operating income reported as discontinued operations	  	 	(7	) 	
Adjustment for corporate overhead allocations, net of taxes12	  	 	(4	) 	
Tax adjustments13	  	 	4	 	
	  	 	 	 	
Re-presented adjusted operating income	  	$	125	 	

12 	Expenses previously reported in the Australia Mortgage Insurance segment and moved to Corporate and Other activities.	
13 	Tax impacts resulting from the classification of Genworth Australia as discontinued operations.	
 
17

Condensed Consolidated Balance Sheets
(Amounts in millions)
(Unaudited)

 	  	September 30,	 	 	December 31,	 	
 	  	2021	 	 	2020	 	
Assets	  				 				
Cash, cash equivalents, restricted cash and invested assets	  	$	75,281	 	 	$	77,917	 	
Deferred acquisition costs	  	 	1,193	 	 	 	1,487	 	
Intangible assets	  	 	147	 	 	 	157	 	
Reinsurance recoverable, net	  	 	16,671	 	 	 	16,819	 	
Deferred tax and other assets	  	 	605	 	 	 	469	 	
Separate account assets	  	 	5,978	 	 	 	6,081	 	
Assets related to discontinued operations	  	 	—  	 	 	 	2,817	 	
	  	 	 	 	 	 	 	 	
Total assets	  	$	99,875	 	 	$	105,747	 	
	  	 	 	 	 	 	 	 	
Liabilities and equity	  				 				
Liabilities:	  				 				
Future policy benefits	  	$	41,794	 	 	$	42,695	 	
Policyholder account balances	  	 	19,607	 	 	 	21,503	 	
Liability for policy and contract claims	  	 	11,743	 	 	 	11,486	 	
Unearned premiums	  	 	685	 	 	 	775	 	
Other liabilities	  	 	1,568	 	 	 	1,614	 	
Long-term borrowings	  	 	2,412	 	 	 	3,403	 	
Separate account liabilities	  	 	5,978	 	 	 	6,081	 	
Liabilities related to discontinued operations	  	 	36	 	 	 	2,370	 	
	  	 	 	 	 	 	 	 	
Total liabilities	  	 	83,823	 	 	 	89,927	 	
	  	 	 	 	 	 	 	 	
Equity:	  				 				
Common stock	  	 	1	 	 	 	1	 	
Additional paid-in capital	  	 	11,850	 	 	 	12,008	 	
Accumulated other comprehensive income (loss)	  	 	3,800	 	 	 	4,425	 	
Retained earnings	  	 	2,325	 	 	 	1,584	 	
Treasury stock, at cost	  	 	(2,700	) 	 	 	(2,700	) 	
	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	15,276	 	 	 	15,318	 	
Noncontrolling interests	  	 	776	 	 	 	502	 	
	  	 	 	 	 	 	 	 	
Total equity	  	 	16,052	 	 	 	15,820	 	
	  	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	99,875	 	 	$	105,747	 	

18

Reconciliation of Reported Yield to Core Yield

 	  	Three
months ended	 		
 	  	September 30,	 	 	June 30,	 		
	(Assets - amounts in billions)	  	2021	 	 	2021	 	
Reported Total Invested Assets and Cash	  	$	74.7	 	 	$	75.2	 		
Subtract:	  				 					
Securities lending	  	 	—  	 	 	 	0.1	 		
Unrealized gains (losses)	  	 	8.5	 	 	 	8.9	 		
	  	 	 	 	 	 	 	 		
Adjusted End of Period Invested Assets and Cash	  	$	66.2	 	 	$	66.2	 		
	  	 	 	 	 	 	 	 		
Average Invested Assets and Cash Used in Reported and Core Yield Calculation	  	$	66.2	 	 	$	66.1	 		

	(Income - amounts in millions)	  	 	 	 	 	 	
Reported Net Investment Income	  	$	859	 	 	$	844	 		
Subtract:	  				 					
Bond calls and commercial mortgage loan prepayments	  	 	43	 	 	 	39	 		
Other non-core items14	  	 	(4	) 	 	 	3	 		
	  	 	 	 	 	 	 	 		
Core Net Investment Income	  	$	820	 	 	$	802	 		
	  	 	 	 	 	 	 	 		
Reported Yield	  	 	5.19	% 	 	 	5.11	% 		
	  	 	 	 	 	 	 	 		
Core Yield	  	 	4.95	% 	 	 	4.85	% 		

14 	Includes cost basis adjustments on structured securities and various other immaterial items.	
 
19

Exhibit 99.2

	

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021

	Table of Contents	  	Page	 	
Investor Letter	  	 	3	 		
Use of Non-GAAP Measures	  	 	4	 		
Results of Operations and Selected Operating Performance Measures	  	 	5	 		
Financial Highlights	  	 	6	 		
			
Consolidated Quarterly Results	  					
Consolidated Net Income (Loss) by Quarter	  	 	8	 		
Reconciliation of Net Income (Loss) to Adjusted Operating Income (Loss)	  	 	9	 		
Consolidated Balance Sheets	  	 	10-11	 		
Consolidated Balance Sheets by Segment	  	 	12-13	 		
Deferred Acquisition Costs (DAC) Rollforward	  	 	14	 		
			
Quarterly Results by Business	  					
Adjusted Operating Income (Loss) and Sales - Enact Segment	  	 	16-21	 		
Adjusted Operating Income (Loss) - U.S. Life Insurance Segment	  	 	23-26	 		
Adjusted Operating Income (Loss) - Runoff Segment	  	 	28	 		
Adjusted Operating Income (Loss) - Corporate and Other Activities	  	 	30	 		
			
Additional Financial Data	  					
Investments Summary	  	 	32	 		
Fixed Maturity Securities Summary	  	 	33	 		
General Account U.S. GAAP Net Investment Income Yields	  	 	34	 		
Net Investment Gains (Losses), Net - Detail	  	 	35	 		
			
Reconciliations of Non-GAAP Measures	  					
Reconciliation of Operating Return On Equity (ROE)	  	 	37	 		
Reconciliation of Reported Yield to Core Yield	  	 	38	 		
			
Corporate Information	  					
Financial Strength Ratings	  	 	40	 		
Note:
Unless otherwise stated, all references in this financial supplement to income (loss) from continuing operations, income (loss) from continuing operations per share, net income (loss), net income (loss) per share, adjusted operating income (loss), adjusted operating income (loss) per share, book value and book value per share should be read as income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders, income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per share, net income (loss) available to Genworth Financial, Inc.’s common stockholders, net income (loss) available to Genworth Financial, Inc.’s common stockholders per share, non-U.S. Generally Accepted Accounting Principles (U.S. GAAP) adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders, non-GAAP adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders per share, book value available to Genworth Financial, Inc.’s common stockholders and book value available to Genworth Financial, Inc.’s common stockholders per share, respectively.
 
2

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Dear Investor,
On September 20, 2021, the company completed a minority initial public offering of 18.4% of Enact Holdings, Inc. (Enact Holdings), an indirect subsidiary, and now reflects net income attributable to noncontrolling interests in its Enact segment (formerly known as the U.S. Mortgage Insurance segment). Differences in the results of operations between the company’s Enact segment included herein and the Enact Holdings standalone results are predominantly due to the allocation of corporate overhead expenses, tax differences and operating results of Enact Holdings’ mortgage insurance business in Mexico reported as Corporate and Other activities for Genworth Financial, Inc. but included in Enact Holdings’ standalone results.
On March 3, 2021, the company completed a sale of its entire ownership interest of approximately 52% in Genworth Mortgage Insurance Australia Limited (“Genworth Australia”) through an underwriting agreement. Genworth Australia, previously the primary business in the Australia Mortgage Insurance segment, is reported as discontinued operations for all periods presented. Accordingly, all prior periods reflected herein have been re-presented on this basis. The following table presents a reconciliation of adjusted operating income (loss) as previously reported to adjusted operating income (loss) re-presented to reflect the Australia mortgage insurance business as discontinued operations for the periods indicated:

	(Amounts in millions)	  	2020	 	
  		4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 		
ADJUSTED OPERATING INCOME (LOSS) AS PREVIOUSLY REPORTED	  	$	173	 	 	$	132	 	 	$	(21	) 	 	$	33	 	 	$	317	 		
Remove Australia Mortgage Insurance segment adjusted operating (income) loss reported as discontinued operations	  	 	16	 	 	 	(7	) 	 	 	(1	) 	 	 	(9	) 	 	 	(1	) 		
Adjustment for corporate overhead allocations, net of taxes(1)	  	 	(5	) 	 	 	(4	) 	 	 	(4	) 	 	 	(4	) 	 	 	(17	) 		
Tax adjustments(2)	  	 	4	 	 	 	4	 	 	 	3	 	 	 	—  	 	 	 	11	 		
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
RE-PRESENTED ADJUSTED OPERATING INCOME (LOSS)	  	$	188	 	 	$	125	 	 	$	(23	) 	 	$	20	 	 	$	310	 		

(1) 	Expenses previously reported in the Australia Mortgage Insurance segment and moved to Corporate and Other activities.	
(2) 	Tax impacts resulting from the classification of Genworth Australia as discontinued operations.	
Thank you for your continued interest in Genworth Financial, Inc.
Regards,
Investor Relations
InvestorInfo@genworth.com
 
3

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
 
Use of Non-GAAP Measures
This financial supplement includes the non-GAAP financial measures entitled “adjusted operating income (loss)” and “adjusted operating income (loss) per share.” Adjusted operating income (loss) per share is derived from adjusted operating income (loss). The chief operating decision maker evaluates segment performance and allocates resources on the basis of adjusted operating income (loss). The company defines adjusted operating income (loss) as income (loss) from continuing operations excluding the after-tax effects of income (loss) from continuing operations attributable to noncontrolling interests, net investment gains (losses), gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and infrequent or unusual non-operating items. Gains (losses) on insurance block transactions are defined as gains (losses) on the early extinguishment of non-recourse funding obligations, early termination fees for other financing restructuring and/or resulting gains (losses) on reinsurance restructuring for certain blocks of business. The company excludes net investment gains (losses) and infrequent or unusual non-operating items because the company does not consider them to be related to the operating performance of the company’s segments and Corporate and Other activities. A component of the company’s net investment gains (losses) is the result of estimated future credit losses, the size and timing of which can vary significantly depending on market credit cycles. In addition, the size and timing of other investment gains (losses) can be subject to the company’s discretion and are influenced by market opportunities, as well as asset-liability matching considerations. Gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions and restructuring costs are also excluded from adjusted operating income (loss) because, in the company’s opinion, they are not indicative of overall operating trends. Infrequent or unusual non-operating items are also excluded from adjusted operating income (loss) if, in the company’s opinion, they are not indicative of overall operating trends.
While some of these items may be significant components of net income (loss) available to Genworth Financial, Inc.’s common stockholders in accordance with U.S. GAAP, the company believes that adjusted operating income (loss) and measures that are derived from or incorporate adjusted operating income (loss), including adjusted operating income (loss) per share on a basic and diluted basis, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses adjusted operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. However, the items excluded from adjusted operating income (loss) have occurred in the past and could, and in some cases will, recur in the future. Adjusted operating income (loss) and adjusted operating income (loss) per share on a basic and diluted basis are not substitutes for net income (loss) available to Genworth Financial, Inc.’s common stockholders or net income (loss) available to Genworth Financial, Inc.’s common stockholders per share on a basic and diluted basis determined in accordance with U.S. GAAP. In addition, the company’s definition of adjusted operating income (loss) may differ from the definitions used by other companies.
Adjustments to reconcile net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) assume a 21% tax rate and are net of the portion attributable to noncontrolling interests. Net investment gains (losses) are also adjusted for DAC and other intangible amortization and certain benefit reserves (see page 35).
In the third quarter of 2021, the company paid a pre-tax make-whole premium of $6 million related to the early redemption of Genworth Holdings, Inc.’s (Genworth Holdings) senior notes originally scheduled to mature in September 2021. In the first quarter of 2021, the company repurchased $146 million principal amount of Genworth Holdings’ senior notes due in September 2021 for a pre-tax loss of $4 million. During 2020, the company repurchased $84 million principal amount of Genworth Holdings’ senior notes with 2021 maturity dates for a pre-tax gain of $3 million and $1 million in the second and first quarters of 2020, respectively. In January 2020, the company paid a pre-tax make-whole expense of $9 million related to the early redemption of Genworth Holdings’ senior notes originally scheduled to mature in June 2020 and Rivermont Life Insurance Company I, the company’s indirect wholly-owned special purpose consolidated captive insurance subsidiary, early redeemed all of its $315 million outstanding non-recourse funding obligations originally due in 2050 resulting in a pre-tax loss of $4 million from the write-off of deferred borrowing costs. These transactions were excluded from adjusted operating income (loss) as they relate to gains (losses) on the early extinguishment of debt.
The company recorded a pre-tax expense of $3 million, $5 million and $21 million in the third, second and first quarters of 2021, respectively, and $1 million in each of the fourth, second and first quarters of 2020 related to restructuring costs as it continues to evaluate and appropriately size its organizational needs and expenses. There were no infrequent or unusual items excluded from adjusted operating income (loss) during the periods presented.
The table on page 9 of this financial supplement provides a reconciliation of net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) for the periods presented and reflects adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting. This financial supplement includes other non-GAAP measures management believes enhances the understanding and comparability of performance by highlighting underlying business activity and profitability drivers. These additional non-GAAP measures are on pages 37 and 38 of this financial supplement.
 
4

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
 
Results of Operations and Selected Operating Performance Measures
The company’s chief operating decision maker evaluates segment performance and allocates resources on the basis of adjusted operating income (loss). The table on page 9 of this financial supplement provides a reconciliation of net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) for the periods presented and reflects adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting.
The company taxes its businesses at the U.S. corporate federal income tax rate of 21%. Each segment is then adjusted to reflect the unique tax attributes of that segment, such as permanent differences between U.S. GAAP and tax law. The difference between the consolidated provision for income taxes and the sum of the provision for income taxes in each segment is reflected in Corporate and Other activities.
The annually-determined tax rates and adjustments to each segment’s provision for income taxes are estimates which are subject to review and could change from year to year.
This financial supplement contains selected operating performance measures including “sales” and “insurance in-force” or “risk in-force” which are commonly used in the insurance industry as measures of operating performance.
Management regularly monitors and reports sales metrics as a measure of volume of new business generated in a period. Sales refer to new insurance written for mortgage insurance products included in the company’s Enact segment. The company considers new insurance written to be a measure of the company’s operating performance because it represents a measure of new sales of insurance policies during a specified period, rather than a measure of the company’s revenues or profitability during that period.
Management regularly monitors and reports insurance in-force and risk in-force for the company’s Enact segment. Insurance in-force is a measure of the aggregate unpaid principal balance as of the respective reporting date for loans the company insures. Risk in-force is based on the coverage percentage applied to the estimated current outstanding loan balance. The company considers insurance in-force and risk in-force to be measures of its operating performance because they represent measures of the size of its business at a specific date which will generate revenues and profits in a future period, rather than measures of its revenues or profitability during that period.
Management also regularly monitors and reports a loss ratio for the company’s businesses. For the U.S. mortgage insurance business included in the company’s Enact segment, the loss ratio is the ratio of benefits and other changes in policy reserves to net earned premiums. For the long-term care insurance business included in the company’s U.S. Life Insurance segment, the loss ratio is the ratio of benefits and other changes in reserves less tabular interest on reserves less loss adjustment expenses to net earned premiums. The company considers the loss ratio to be a measure of underwriting performance in these businesses and helps to enhance the understanding of the operating performance of the businesses.
These operating performance measures enable the company to compare its operating performance across periods without regard to revenues or profitability related to policies or contracts sold in prior periods or from investments or other sources.
 
5

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Financial Highlights
(amounts in millions, except per share data)

	Balance Sheet Data	  	September 30,
        2021        	 	 	June 30,
        2021        	 	 	March 31,
        2021        	 	 	December 31,
        2020        	 	 	September 30,
        2020        	 	
Total Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income	  	$	11,476	 	 	$	11,330	 	 	$	11,083	 	 	$	10,893	 	 	$	10,615	 		
Total accumulated other comprehensive income	  	 	3,800	 	 	 	3,834	 	 	 	3,675	 	 	 	4,425	 	 	 	4,141	 		
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
Total Genworth Financial, Inc.’s stockholders’ equity	  	$	15,276	 	 	$	15,164	 	 	$	14,758	 	 	$	15,318	 	 	$	14,756	 		
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
Book value per share	  	$	30.11	 	 	$	29.89	 	 	$	29.14	 	 	$	30.28	 	 	$	29.19	 		
Book value per share, excluding accumulated other comprehensive income	  	$	22.62	 	 	$	22.33	 	 	$	21.88	 	 	$	21.54	 	 	$	20.99	 		
Common shares outstanding as of the balance sheet date	  	 	507.4	 	 	 	507.4	 	 	 	506.5	 	 	 	505.8	 	 	 	505.6	 		
			
 	  	Twelve months ended	 		
	Twelve Month Rolling Average ROE	  	September 30,
2021	 	 	June 30,
        2021        	 	 	March 31,
        2021        	 	 	December 31,
2020	 	 	September 30,
2020	 	
U.S. GAAP Basis ROE	  	 	9.1	% 	 	 	10.3	% 	 	 	4.0	% 	 	 	1.7	% 	 	 	(1.0	)% 		
Operating ROE(1)	  	 	7.1	% 	 	 	6.2	% 	 	 	4.3	% 	 	 	2.9	% 	 	 	1.2	% 		
			
 	  	Three months ended	 		
	Quarterly Average ROE	  	September 30,
2021	 	 	June 30,
        2021        	 	 	March 31,
        2021        	 	 	December 31,
2020	 	 	September 30,
2020	 	
U.S. GAAP Basis ROE	  	 	11.0	% 	 	 	8.6	% 	 	 	6.8	% 	 	 	9.9	% 	 	 	16.1	% 		
Operating ROE(1)	  	 	8.4	% 	 	 	6.9	% 	 	 	6.1	% 	 	 	7.0	% 	 	 	4.8	% 		

	Basic and Diluted Shares	  	Three months ended
September 30, 2021	 	  	Nine months ended
September 30, 2021	 	
Weighted-average common shares used in basic earnings per share calculations	  	 	507.4	 	  	 	506.8	 		
Potentially dilutive securities:	  				  					
Stock options, restricted stock units and stock appreciation rights	  	 	6.8	 	  	 	7.6	 		
	  	 	 	 	  	 	 	 		
Weighted-average common shares used in diluted earnings per share calculations	  	 	514.2	 	  	 	514.4	 		

(1) 	See page 37 herein for a reconciliation of U.S. GAAP Basis ROE to Operating ROE.	
 
6

 
Consolidated Quarterly Results

 
7

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Consolidated Net Income (Loss) by Quarter
(amounts in millions, except per share amounts)

 	  	2021	 	  	2020	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	  	Total	 	  	4Q	 	 	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				  				  				 				  				 				 				
Premiums	  	$	944	 	  	$	947	 	 	$	968	 	  	$	2,859	 	  	$	970	 	 	$	963	 	  	$	957	 	 	$	946	 	 	$	3,836	 	
Net investment income	  	 	859	 	  	 	844	 	 	 	801	 	  	 	2,504	 	  	 	846	 	 	 	820	 	  	 	779	 	 	 	782	 	 	 	3,227	 	
Net investment gains (losses)	  	 	88	 	  	 	70	 	 	 	33	 	  	 	191	 	  	 	147	 	 	 	351	 	  	 	93	 	 	 	(99	) 	 	 	492	 	
Policy fees and other income	  	 	179	 	  	 	180	 	 	 	183	 	  	 	542	 	  	 	191	 	 	 	184	 	  	 	174	 	 	 	180	 	 	 	729	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	2,070	 	  	 	2,041	 	 	 	1,985	 	  	 	6,096	 	  	 	2,154	 	 	 	2,318	 	  	 	2,003	 	 	 	1,809	 	 	 	8,284	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				  				  				 				  				 				 				
Benefits and other changes in policy reserves	  	 	1,143	 	  	 	1,161	 	 	 	1,218	 	  	 	3,522	 	  	 	1,157	 	 	 	1,273	 	  	 	1,447	 	 	 	1,337	 	 	 	5,214	 	
Interest credited	  	 	123	 	  	 	127	 	 	 	131	 	  	 	381	 	  	 	132	 	 	 	137	 	  	 	139	 	 	 	141	 	 	 	549	 	
Acquisition and operating expenses, net of deferrals	  	 	290	 	  	 	304	 	 	 	275	 	  	 	869	 	  	 	253	 	 	 	235	 	  	 	210	 	 	 	237	 	 	 	935	 	
Amortization of deferred acquisition costs and intangibles	  	 	106	 	  	 	86	 	 	 	77	 	  	 	269	 	  	 	174	 	 	 	94	 	  	 	87	 	 	 	108	 	 	 	463	 	
Interest expense	  	 	35	 	  	 	43	 	 	 	51	 	  	 	129	 	  	 	55	 	 	 	47	 	  	 	42	 	 	 	51	 	 	 	195	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	1,697	 	  	 	1,721	 	 	 	1,752	 	  	 	5,170	 	  	 	1,771	 	 	 	1,786	 	  	 	1,925	 	 	 	1,874	 	 	 	7,356	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	373	 	  	 	320	 	 	 	233	 	  	 	926	 	  	 	383	 	 	 	532	 	  	 	78	 	 	 	(65	) 	 	 	928	 	
Provision (benefit) for income taxes	  	 	67	 	  	 	75	 	 	 	59	 	  	 	201	 	  	 	82	 	 	 	130	 	  	 	23	 	 	 	(5	) 	 	 	230	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	306	 	  	 	245	 	 	 	174	 	  	 	725	 	  	 	301	 	 	 	402	 	  	 	55	 	 	 	(60	) 	 	 	698	 	
Income (loss) from discontinued operations, net of taxes(1)	  	 	12	 	  	 	(5	) 	 	 	21	 	  	 	28	 	  	 	(35	) 	 	 	34	 	  	 	(473	) 	 	 	(12	) 	 	 	(486	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)	  	 	318	 	  	 	240	 	 	 	195	 	  	 	753	 	  	 	266	 	 	 	436	 	  	 	(418	) 	 	 	(72	) 	 	 	212	 	
Less: net income from continuing operations attributable to noncontrolling interests	  	 	4	 	  	 	—  	 	 	 	—  	 	  	 	4	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	
Less: net income (loss) from discontinued operations attributable to noncontrolling interests	  	 	—  	 	  	 	—  	 	 	 	8	 	  	 	8	 	  	 	(1	) 	 	 	18	 	  	 	23	 	 	 	(6	) 	 	 	34	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S	  			 	  				 				  				  				 				  				 				 				
COMMON STOCKHOLDERS	  	$	314	 	  	$	240	 	 	$	187	 	  	$	741	 	  	$	267	 	 	$	418	 	  	$	(441	) 	 	$	(66	) 	 	$	178	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S	  			 	  				 				  				  				 				  				 				 				
COMMON STOCKHOLDERS:	  			 	  				 				  				  				 				  				 				 				
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders	  	$	302	 	  	$	245	 	 	$	174	 	  	$	721	 	  	$	301	 	 	$	402	 	  	$	55	 	 	$	(60	) 	 	$	698	 	
Income (loss) from discontinued operations available to Genworth Financial, Inc.’s common stockholders	  	 	12	 	  	 	(5	) 	 	 	13	 	  	 	20	 	  	 	(34	) 	 	 	16	 	  	 	(496	) 	 	 	(6	) 	 	 	(520	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S	  			 	  				 				  				  				 				  				 				 				
COMMON STOCKHOLDERS	  	$	314	 	  	$	240	 	 	$	187	 	  	$	741	 	  	$	267	 	 	$	418	 	  	$	(441	) 	 	$	(66	) 	 	$	178	 	

Earnings (Loss) Per Share Data:	  				  				 				  				  				 				  				 				 				
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per share	  				  				 				  				  				 				  				 				 				
Basic	  	$	0.59	 	  	$	0.48	 	 	$	0.35	 	  	$	1.42	 	  	$	0.60	 	 	$	0.79	 	  	$	0.11	 	 	$	(0.12	) 	 	$	1.38	 	
Diluted	  	$	0.59	 	  	$	0.47	 	 	$	0.34	 	  	$	1.40	 	  	$	0.59	 	 	$	0.79	 	  	$	0.11	 	 	$	(0.12	) 	 	$	1.36	 	
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share	  				  				 				  				  				 				  				 				 				
Basic	  	$	0.62	 	  	$	0.47	 	 	$	0.37	 	  	$	1.46	 	  	$	0.53	 	 	$	0.83	 	  	$	(0.87	) 	 	$	(0.13	) 	 	$	0.35	 	
Diluted	  	$	0.61	 	  	$	0.47	 	 	$	0.37	 	  	$	1.44	 	  	$	0.52	 	 	$	0.82	 	  	$	(0.86	) 	 	$	(0.13	) 	 	$	0.35	 	
Weighted-average common shares outstanding	  				  				 				  				  				 				  				 				 				
Basic	  	 	507.4	 	  	 	507.0	 	 	 	506.0	 	  	 	506.8	 	  	 	505.6	 	 	 	505.6	 	  	 	505.4	 	 	 	504.3	 	 	 	505.2	 	
Diluted(2)	  	 	514.2	 	  	 	515.0	 	 	 	513.8	 	  	 	514.4	 	  	 	512.5	 	 	 	511.5	 	  	 	512.5	 	 	 	504.3	 	 	 	511.6	 	

(1) 	Income (loss) from discontinued operations relates to the company’s former Australia mortgage insurance business that was sold on March 3, 2021 and its former lifestyle protection insurance business that was sold on December 1, 2015. Refer to page 30 for operating results of Genworth Australia reported as discontinued operations. In the first quarter of 2021, due to the sale of Genworth Australia, the company recorded an after-tax favorable adjustment of $11 million associated with a refinement to its tax matters agreement liability. During the third, second and first quarters of 2021 and the fourth, third and second quarters of 2020, the company recorded after-tax income (loss) of $9 million, $(4) million, $(1) million, $(30) million, $(22) million and $(520) million, respectively, related to a secured promissory note with AXA S.A. (AXA) resulting from a settlement agreement reached in 2020 regarding a dispute over payment protection insurance claims sold by the company’s former lifestyle protection insurance business. During the first quarter of 2021 and the third quarter of 2020, based on an updated estimate, the company adjusted a liability associated with underwriting losses on a product sold by a distributor in the company’s former lifestyle protection insurance business which resulted in an after-tax benefit (loss) of $(4) million and $23 million, respectively.	
(2) 	Under applicable accounting guidance, companies in a loss position are required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share. Therefore, as a result of the loss from continuing operations for the three months ended March 31, 2020, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share for the three months ended March 31, 2020, as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 5.4 million would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations for the three months ended March 31, 2020, dilutive potential weighted-average common shares outstanding would have been 509.7 million.	
 
8

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Reconciliation of Net Income (Loss) to Adjusted Operating Income (Loss)
(amounts in millions, except per share amounts)

 	  	2021	 	 	2020	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S	  			 	  				 				 				 				 				 				 				 				
COMMON STOCKHOLDERS	  	$	314	 	  	$	240	 	 	$	187	 	 	$	741	 	 	$	267	 	 	$	418	 	 	$	(441	) 	 	$	(66	) 	 	$	178	 	
Add: net income from continuing operations attributable to noncontrolling interests	  	 	4	 	  	 	—  	 	 	 	—  	 	 	 	4	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Add: net income (loss) from discontinued operations attributable to noncontrolling interests	  	 	—  	 	  	 	—  	 	 	 	8	 	 	 	8	 	 	 	(1	) 	 	 	18	 	 	 	23	 	 	 	(6	) 	 	 	34	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)	  	 	318	 	  	 	240	 	 	 	195	 	 	 	753	 	 	 	266	 	 	 	436	 	 	 	(418	) 	 	 	(72	) 	 	 	212	 	
Less: income (loss) from discontinued operations, net of taxes	  	 	12	 	  	 	(5	) 	 	 	21	 	 	 	28	 	 	 	(35	) 	 	 	34	 	 	 	(473	) 	 	 	(12	) 	 	 	(486	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	306	 	  	 	245	 	 	 	174	 	 	 	725	 	 	 	301	 	 	 	402	 	 	 	55	 	 	 	(60	) 	 	 	698	 	
Less: net income from continuing operations attributable to noncontrolling interests	  	 	4	 	  	 	—  	 	 	 	—  	 	 	 	4	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	 	302	 	  	 	245	 	 	 	174	 	 	 	721	 	 	 	301	 	 	 	402	 	 	 	55	 	 	 	(60	) 	 	 	698	 	
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	  			 	  				 				 				 				 				 				 				 				
Net investment (gains) losses, net(1)	  	 	(88	) 	  	 	(70	) 	 	 	(33	) 	 	 	(191	) 	 	 	(144	) 	 	 	(350	) 	 	 	(97	) 	 	 	88	 	 	 	(503	) 	
(Gains) losses on early extinguishment of debt	  	 	6	 	  	 	—  	 	 	 	4	 	 	 	10	 	 	 	—  	 	 	 	—  	 	 	 	(3	) 	 	 	12	 	 	 	9	 	
Expenses related to restructuring	  	 	3	 	  	 	5	 	 	 	21	 	 	 	29	 	 	 	1	 	 	 	—  	 	 	 	1	 	 	 	1	 	 	 	3	 	
Taxes on adjustments	  	 	16	 	  	 	14	 	 	 	2	 	 	 	32	 	 	 	30	 	 	 	73	 	 	 	21	 	 	 	(21	) 	 	 	103	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	239	 	  	$	194	 	 	$	168	 	 	$	601	 	 	$	188	 	 	$	125	 	 	$	(23	) 	 	$	20	 	 	$	310	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS):	  			 	  				 				 				 				 				 				 				 				
Enact segment	  	$	134	 	  	$	135	 	 	$	126	 	 	$	395	 	 	$	95	 	 	$	141	 	 	$	(3	) 	 	$	148	 	 	$	381	 	
U.S. Life Insurance segment:	  			 	  				 				 				 				 				 				 				 				
Long-Term Care Insurance	  	 	133	 	  	 	98	 	 	 	95	 	 	 	326	 	 	 	129	 	 	 	59	 	 	 	48	 	 	 	1	 	 	 	237	 	
Life Insurance	  	 	(68	) 	  	 	(40	) 	 	 	(63	) 	 	 	(171	) 	 	 	(20	) 	 	 	(69	) 	 	 	(81	) 	 	 	(77	) 	 	 	(247	) 	
Fixed Annuities	  	 	28	 	  	 	13	 	 	 	30	 	 	 	71	 	 	 	20	 	 	 	24	 	 	 	28	 	 	 	6	 	 	 	78	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance segment	  	 	93	 	  	 	71	 	 	 	62	 	 	 	226	 	 	 	129	 	 	 	14	 	 	 	(5	) 	 	 	(70	) 	 	 	68	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Runoff segment	  	 	11	 	  	 	15	 	 	 	12	 	 	 	38	 	 	 	13	 	 	 	19	 	 	 	24	 	 	 	(13	) 	 	 	43	 	
Corporate and Other	  	 	1	 	  	 	(27	) 	 	 	(32	) 	 	 	(58	) 	 	 	(49	) 	 	 	(49	) 	 	 	(39	) 	 	 	(45	) 	 	 	(182	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	239	 	  	$	194	 	 	$	168	 	 	$	601	 	 	$	188	 	 	$	125	 	 	$	(23	) 	 	$	20	 	 	$	310	 	

Earnings (Loss) Per Share Data:	  				  				 				 				 				 				 				 				 				
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share	  				  				 				 				 				 				 				 				 				
Basic	  	$	0.62	 	  	$	0.47	 	 	$	0.37	 	 	$	1.46	 	 	$	0.53	 	 	$	0.83	 	 	$	(0.87	) 	 	$	(0.13	) 	 	$	0.35	 	
Diluted	  	$	0.61	 	  	$	0.47	 	 	$	0.37	 	 	$	1.44	 	 	$	0.52	 	 	$	0.82	 	 	$	(0.86	) 	 	$	(0.13	) 	 	$	0.35	 	
Adjusted operating income (loss) per share	  				  				 				 				 				 				 				 				 				
Basic	  	$	0.47	 	  	$	0.38	 	 	$	0.33	 	 	$	1.19	 	 	$	0.37	 	 	$	0.25	 	 	$	(0.05	) 	 	$	0.04	 	 	$	0.61	 	
Diluted	  	$	0.46	 	  	$	0.38	 	 	$	0.33	 	 	$	1.17	 	 	$	0.37	 	 	$	0.25	 	 	$	(0.05	) 	 	$	0.04	 	 	$	0.61	 	
Weighted-average common shares outstanding	  				  				 				 				 				 				 				 				 				
Basic	  	 	507.4	 	  	 	507.0	 	 	 	506.0	 	 	 	506.8	 	 	 	505.6	 	 	 	505.6	 	 	 	505.4	 	 	 	504.3	 	 	 	505.2	 	
Diluted(2)	  	 	514.2	 	  	 	515.0	 	 	 	513.8	 	 	 	514.4	 	 	 	512.5	 	 	 	511.5	 	 	 	512.5	 	 	 	504.3	 	 	 	511.6	 	

(1)	Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves (see page 35 for reconciliation).	
(2)	Under applicable accounting guidance, companies in a loss position are required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share. Therefore, as a result of the loss from continuing operations for the three months ended March 31, 2020, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share for the three months ended March 31, 2020, as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 5.4 million would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations for the three months ended March 31, 2020, dilutive potential weighted-average common shares outstanding would have been 509.7 million.	
 
9

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Consolidated Balance Sheets
(amounts in millions)

 	 	September 30,
2021	 	  	June 30,
2021	 	 	March 31,
2021	 	 	December 31,
2020	 	 	September 30,
2020	 	
ASSETS	 			 	  				 				 				 				
Investments:	 			 	  				 				 				 				
Fixed maturity securities available-for-sale, at fair value(1)	 	$	61,274	 	  	$	61,649	 	 	$	60,231	 	 	$	63,495	 	 	$	62,372	 	
Equity securities, at fair value	 	 	156	 	  	 	147	 	 	 	238	 	 	 	386	 	 	 	575	 	
Commercial mortgage loans(2)	 	 	6,916	 	  	 	6,912	 	 	 	6,787	 	 	 	6,774	 	 	 	6,911	 	
Less: Allowance for credit losses	 	 	(30	) 	  	 	(33	) 	 	 	(32	) 	 	 	(31	) 	 	 	(31	) 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Commercial mortgage loans, net	 	 	6,886	 	  	 	6,879	 	 	 	6,755	 	 	 	6,743	 	 	 	6,880	 	
Policy loans	 	 	2,067	 	  	 	2,083	 	 	 	1,976	 	 	 	1,978	 	 	 	2,153	 	
Other invested assets	 	 	2,335	 	  	 	2,260	 	 	 	1,759	 	 	 	2,099	 	 	 	2,171	 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total investments	 	 	72,718	 	  	 	73,018	 	 	 	70,959	 	 	 	74,701	 	 	 	74,151	 	
Cash, cash equivalents and restricted cash	 	 	1,937	 	  	 	2,214	 	 	 	1,964	 	 	 	2,561	 	 	 	2,740	 	
Accrued investment income	 	 	626	 	  	 	573	 	 	 	704	 	 	 	655	 	 	 	635	 	
Deferred acquisition costs	 	 	1,193	 	  	 	1,212	 	 	 	1,247	 	 	 	1,487	 	 	 	1,585	 	
Intangible assets	 	 	147	 	  	 	151	 	 	 	155	 	 	 	157	 	 	 	165	 	
Reinsurance recoverable	 	 	16,722	 	  	 	16,716	 	 	 	16,788	 	 	 	16,864	 	 	 	16,832	 	
Less: Allowance for credit losses	 	 	(51	) 	  	 	(50	) 	 	 	(44	) 	 	 	(45	) 	 	 	(44	) 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Reinsurance recoverable, net	 	 	16,671	 	  	 	16,666	 	 	 	16,744	 	 	 	16,819	 	 	 	16,788	 	
Other assets	 	 	396	 	  	 	403	 	 	 	439	 	 	 	404	 	 	 	419	 	
Deferred tax asset	 	 	209	 	  	 	211	 	 	 	314	 	 	 	65	 	 	 	201	 	
Separate account assets	 	 	5,978	 	  	 	6,202	 	 	 	6,032	 	 	 	6,081	 	 	 	5,700	 	
Assets related to discontinued operations(3)	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	2,817	 	 	 	2,541	 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total assets	 	$	99,875	 	  	$	100,650	 	 	$	98,558	 	 	$	105,747	 	 	$	104,925	 	

 
(1)  Amortized cost of $53,181 million, $53,111 million, $53,470 million, $53,417 million and $53,241 million as of September 30, 2021, June 30, 2021, March 31, 2021, December 31, 2020 and September 30, 2020, respectively, and allowance for credit losses of $—, $—, $3 million, $4 million and $5 million as of September 30, 2021, June 30, 2021, March 31, 2021, December 31, 2020 and September 30, 2020, respectively.
(2)  Net of unamortized balance of loan origination fees and costs of $4 million as of September 30, 2021, June 30, 2021, March 31, 2021, December 31, 2020 and September 30, 2020.
(3)  Prior to the sale on March 3, 2021, the assets of Genworth Australia were segregated in the consolidated balance sheets. The major asset categories of Genworth Australia reported as discontinued operations were as follows:
 	  
  
   
	
  	 	September 30,
2021	 	  	June 30,
2021	 	 	March 31,
2021	 	 	December 31,
2020	 	 	September 30,
2020	 	
ASSETS	 				  				 				 				 				
Investments:	 				  				 				 				 				
Fixed maturity securities available-for-sale, at fair value	 	$	—  	 	  	$	—  	 	 	$	—  	 	 	$	2,295	 	 	$	2,044	 	
Equity securities, at fair value	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	90	 	 	 	54	 	
Other invested assets	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	154	 	 	 	231	 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total investments	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	2,539	 	 	 	2,329	 	
Cash, cash equivalents and restricted cash	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	95	 	 	 	40	 	
Accrued investment income	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	16	 	 	 	15	 	
Deferred acquisition costs	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	42	 	 	 	38	 	
Intangible assets	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	43	 	 	 	44	 	
Other assets	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	40	 	 	 	26	 	
Deferred tax asset	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	42	 	 	 	49	 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Assets related to discontinued operations	 	$	     —  	 	  	$	       —  	 	 	$	     —  	 	 	$	    2,817	 	 	$	    2,541	 	

10

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Consolidated Balance Sheets
(amounts in millions)

 	  	September 30,
2021	 	  	June 30,
2021	 	 	March 31,
2021	 	 	December 31,
2020	 	 	September 30,
2020	 	
LIABILITIES AND EQUITY	  			 	  				 				 				 				
Liabilities:	  			 	  				 				 				 				
Future policy benefits	  	$	41,794	 	  	$	42,165	 	 	$	40,634	 	 	$	42,695	 	 	$	41,995	 	
Policyholder account balances	  	 	19,607	 	  	 	19,944	 	 	 	19,999	 	 	 	21,503	 	 	 	22,731	 	
Liability for policy and contract claims	  	 	11,743	 	  	 	11,546	 	 	 	11,415	 	 	 	11,486	 	 	 	11,135	 	
Unearned premiums	  	 	685	 	  	 	695	 	 	 	728	 	 	 	775	 	 	 	794	 	
Other liabilities	  	 	1,568	 	  	 	1,664	 	 	 	1,710	 	 	 	1,614	 	 	 	1,822	 	
Long-term borrowings	  	 	2,412	 	  	 	2,924	 	 	 	2,922	 	 	 	3,403	 	 	 	3,401	 	
Separate account liabilities	  	 	5,978	 	  	 	6,202	 	 	 	6,032	 	 	 	6,081	 	 	 	5,700	 	
Liabilities related to discontinued operations(1)	  	 	36	 	  	 	346	 	 	 	360	 	 	 	2,370	 	 	 	2,115	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities	  	 	83,823	 	  	 	85,486	 	 	 	83,800	 	 	 	89,927	 	 	 	89,693	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Equity:	  			 	  				 				 				 				
Common stock	  	 	1	 	  	 	1	 	 	 	1	 	 	 	1	 	 	 	1	 	
Additional paid-in capital	  	 	11,850	 	  	 	12,018	 	 	 	12,011	 	 	 	12,008	 	 	 	11,997	 	
Accumulated other comprehensive income (loss)	  	 	3,800	 	  	 	3,834	 	 	 	3,675	 	 	 	4,425	 	 	 	4,141	 	
Retained earnings	  	 	2,325	 	  	 	2,011	 	 	 	1,771	 	 	 	1,584	 	 	 	1,317	 	
Treasury stock, at cost	  	 	(2,700	) 	  	 	(2,700	) 	 	 	(2,700	) 	 	 	(2,700	) 	 	 	(2,700	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	15,276	 	  	 	15,164	 	 	 	14,758	 	 	 	15,318	 	 	 	14,756	 	
Noncontrolling interests	  	 	776	 	  	 	—  	 	 	 	—  	 	 	 	502	 	 	 	476	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total equity	  	 	16,052	 	  	 	15,164	 	 	 	14,758	 	 	 	15,820	 	 	 	15,232	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	99,875	 	  	$	100,650	 	 	$	98,558	 	 	$	105,747	 	 	$	104,925	 	

 

(1) 	Liabilities related to discontinued operations relates to a liability recorded in connection with a settlement agreement reached with AXA involving the sale of the company’s former lifestyle protection insurance business. Liabilities related to discontinued operations also includes an unrelated liability associated with underwriting losses on a product sold by a distributor in the company’s former lifestyle protection insurance business. In addition, prior to the sale on March 3, 2021, the liabilities of Genworth Australia were segregated in the consolidated balance sheets. The major liability categories of Genworth Australia reported as discontinued operations were as follows:	

 	  	September 30,
2021	 	  	June 30,
2021	 	  	March 31,
2021	 	  	December 31,
2020	 	  	September 30,
2020	 	
LIABILITIES	  				  				  				  				  				
Liability for policy and contract claims	  	$	—  	 	  	$	—  	 	  	$	—  	 	  	$	331	 	  	$	238	 	
Unearned premiums	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	1,193	 	  	 	1,052	 	
Other liabilities	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	104	 	  	 	91	 	
Long-term borrowings	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	145	 	  	 	169	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Liabilities related to discontinued operations	  	$	    —  	 	  	$	    —  	 	  	$	    —  	 	  	$	   1,773	 	  	$	   1,550	 	

11

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Consolidated Balance Sheet by Segment    
(amounts in millions)    

 	  	September 30, 2021	 	
 	  	Enact	 	  	U.S. Life
Insurance	 	  	Runoff	 	  	Corporate
and
Other(1)	 	 	Total	 	
ASSETS	  				  				  				  				 				
Cash and investments	  	$	5,871	 	  	$	64,627	 	  	$	2,616	 	  	$	2,167	 	 	$	75,281	 	
Deferred acquisition costs and intangible assets	  	 	39	 	  	 	1,175	 	  	 	115	 	  	 	11	 	 	 	1,340	 	
Reinsurance recoverable, net	  	 	—  	 	  	 	16,017	 	  	 	654	 	  	 	—  	 	 	 	16,671	 	
Deferred tax and other assets	  	 	77	 	  	 	426	 	  	 	55	 	  	 	47	 	 	 	605	 	
Separate account assets	  	 	—  	 	  	 	—  	 	  	 	5,978	 	  	 	—  	 	 	 	5,978	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total assets	  	$	5,987	 	  	$	82,245	 	  	$	9,418	 	  	$	2,225	 	 	$	99,875	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
LIABILITIES AND EQUITY	  				  				  				  				 				
Liabilities:	  				  				  				  				 				
Future policy benefits	  	$	—  	 	  	$	41,792	 	  	$	2	 	  	$	—  	 	 	$	41,794	 	
Policyholder account balances	  	 	—  	 	  	 	16,603	 	  	 	3,004	 	  	 	—  	 	 	 	19,607	 	
Liability for policy and contract claims	  	 	648	 	  	 	11,065	 	  	 	20	 	  	 	10	 	 	 	11,743	 	
Unearned premiums	  	 	255	 	  	 	427	 	  	 	3	 	  	 	—  	 	 	 	685	 	
Other liabilities	  	 	122	 	  	 	741	 	  	 	40	 	  	 	665	 	 	 	1,568	 	
Borrowings	  	 	740	 	  	 	—  	 	  	 	—  	 	  	 	1,672	 	 	 	2,412	 	
Separate account liabilities	  	 	—  	 	  	 	—  	 	  	 	5,978	 	  	 	—  	 	 	 	5,978	 	
Liabilities related to discontinued operations	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	36	 	 	 	36	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total liabilities	  	 	1,765	 	  	 	70,628	 	  	 	9,047	 	  	 	2,383	 	 	 	83,823	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Equity:	  				  				  				  				 				
Allocated equity, excluding accumulated other comprehensive income (loss)	  	 	3,337	 	  	 	7,907	 	  	 	365	 	  	 	(133	) 	 	 	11,476	 	
Allocated accumulated other comprehensive income (loss)	  	 	109	 	  	 	3,710	 	  	 	6	 	  	 	(25	) 	 	 	3,800	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	3,446	 	  	 	11,617	 	  	 	371	 	  	 	(158	) 	 	 	15,276	 	
Noncontrolling interests	  	 	776	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	776	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total equity	  	 	4,222	 	  	 	11,617	 	  	 	371	 	  	 	(158	) 	 	 	16,052	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	5,987	 	  	$	82,245	 	  	$	9,418	 	  	$	2,225	 	 	$	99,875	 	

(1) 	Includes inter-segment eliminations and other businesses that are managed outside the operating segments.	
 
12

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Consolidated Balance Sheet by Segment
(amounts in millions)

 	  	June 30, 2021	 	
 	  	Enact	 	  	U.S. Life
Insurance	 	  	Runoff	 	  	Corporate
and
Other(1)	 	 	Total	 	
ASSETS	  				  				  				  				 				
Cash and investments	  	$	5,735	 	  	$	65,209	 	  	$	2,548	 	  	$	2,313	 	 	$	75,805	 	
Deferred acquisition costs and intangible assets	  	 	40	 	  	 	1,195	 	  	 	117	 	  	 	11	 	 	 	1,363	 	
Reinsurance recoverable, net	  	 	—  	 	  	 	16,001	 	  	 	665	 	  	 	—  	 	 	 	16,666	 	
Deferred tax and other assets	  	 	70	 	  	 	117	 	  	 	61	 	  	 	366	 	 	 	614	 	
Separate account assets	  	 	—  	 	  	 	—  	 	  	 	6,202	 	  	 	—  	 	 	 	6,202	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total assets	  	$	5,845	 	  	$	82,522	 	  	$	9,593	 	  	$	2,690	 	 	$	100,650	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
LIABILITIES AND EQUITY	  				  				  				  				 				
Liabilities:	  				  				  				  				 				
Future policy benefits	  	$	—  	 	  	$	42,163	 	  	$	2	 	  	$	—  	 	 	$	42,165	 	
Policyholder account balances	  	 	—  	 	  	 	16,968	 	  	 	2,976	 	  	 	—  	 	 	 	19,944	 	
Liability for policy and contract claims	  	 	624	 	  	 	10,897	 	  	 	15	 	  	 	10	 	 	 	11,546	 	
Unearned premiums	  	 	264	 	  	 	428	 	  	 	3	 	  	 	—  	 	 	 	695	 	
Other liabilities	  	 	107	 	  	 	770	 	  	 	43	 	  	 	744	 	 	 	1,664	 	
Borrowings	  	 	739	 	  	 	—  	 	  	 	—  	 	  	 	2,185	 	 	 	2,924	 	
Separate account liabilities	  	 	—  	 	  	 	—  	 	  	 	6,202	 	  	 	—  	 	 	 	6,202	 	
Liabilities related to discontinued operations	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	346	 	 	 	346	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total liabilities	  	 	1,734	 	  	 	71,226	 	  	 	9,241	 	  	 	3,285	 	 	 	85,486	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Equity:	  				  				  				  				 				
Allocated equity, excluding accumulated other comprehensive income (loss)	  	 	3,951	 	  	 	7,613	 	  	 	345	 	  	 	(579	) 	 	 	11,330	 	
Allocated accumulated other comprehensive income (loss)	  	 	160	 	  	 	3,683	 	  	 	7	 	  	 	(16	) 	 	 	3,834	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	4,111	 	  	 	11,296	 	  	 	352	 	  	 	(595	) 	 	 	15,164	 	
Noncontrolling interests	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total equity	  	 	4,111	 	  	 	11,296	 	  	 	352	 	  	 	(595	) 	 	 	15,164	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	5,845	 	  	$	82,522	 	  	$	9,593	 	  	$	2,690	 	 	$	100,650	 	

(1) 	Includes inter-segment eliminations and other businesses that are managed outside the operating segments.	
 
13

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Deferred Acquisition Costs Rollforward
(amounts in millions)

 	  	Enact	 	 	U.S. Life
Insurance	 	 	Runoff	 	 	Total	 	
Unamortized balance as of June 30, 2021	  	$	28	 	 	$	2,496	 	 	$	142	 	 	$	2,666	 	
Costs deferred	  	 	3	 	 	 	—  	 	 	 	—  	 	 	 	3	 	
Amortization, net of interest accretion	  	 	(3	) 	 	 	(92	) 	 	 	(6	) 	 	 	(101	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Unamortized balance as of September 30, 2021	  	 	28	 	 	 	2,404	 	 	 	136	 	 	 	2,568	 	
Effect of accumulated net unrealized investment (gains) losses	  	 	—  	 	 	 	(1,351	) 	 	 	(24	) 	 	 	(1,375	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Balance as of September 30, 2021	  	$	28	 	 	$	1,053	 	 	$	112	 	 	$	1,193	 	

14

 
Enact Segment

 
15

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Adjusted Operating Income (Loss) and Sales—Enact Segment
(amounts in millions)    

 	  	2021	 	 	2020	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	  	Total	 	
REVENUES:	  			 	  				 				 				 				 				 				 				  				
Premiums	  	$	243	 	  	$	243	 	 	$	252	 	 	$	738	 	 	$	251	 	 	$	251	 	 	$	243	 	 	$	226	 	  	$	971	 	
Net investment income	  	 	36	 	  	 	35	 	 	 	35	 	 	 	106	 	 	 	35	 	 	 	34	 	 	 	31	 	 	 	33	 	  	 	133	 	
Net investment gains (losses)	  	 	1	 	  	 	(2	) 	 	 	(1	) 	 	 	(2	) 	 	 	(1	) 	 	 	(2	) 	 	 	(1	) 	 	 	—  	 	  	 	(4	) 	
Policy fees and other income	  	 	1	 	  	 	—  	 	 	 	2	 	 	 	3	 	 	 	2	 	 	 	1	 	 	 	1	 	 	 	2	 	  	 	6	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Total revenues	  	 	281	 	  	 	276	 	 	 	288	 	 	 	845	 	 	 	287	 	 	 	284	 	 	 	274	 	 	 	261	 	  	 	1,106	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				 				 				  				
Benefits and other changes in policy reserves	  	 	34	 	  	 	30	 	 	 	55	 	 	 	119	 	 	 	89	 	 	 	45	 	 	 	228	 	 	 	19	 	  	 	381	 	
Acquisition and operating expenses, net of deferrals	  	 	55	 	  	 	63	 	 	 	57	 	 	 	175	 	 	 	55	 	 	 	54	 	 	 	47	 	 	 	50	 	  	 	206	 	
Amortization of deferred acquisition costs and intangibles	  	 	3	 	  	 	4	 	 	 	4	 	 	 	11	 	 	 	10	 	 	 	3	 	 	 	4	 	 	 	4	 	  	 	21	 	
Interest expense	  	 	13	 	  	 	12	 	 	 	13	 	 	 	38	 	 	 	12	 	 	 	6	 	 	 	—  	 	 	 	—  	 	  	 	18	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	105	 	  	 	109	 	 	 	129	 	 	 	343	 	 	 	166	 	 	 	108	 	 	 	279	 	 	 	73	 	  	 	626	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	176	 	  	 	167	 	 	 	159	 	 	 	502	 	 	 	121	 	 	 	176	 	 	 	(5	) 	 	 	188	 	  	 	480	 	
Provision (benefit) for income taxes	  	 	38	 	  	 	35	 	 	 	34	 	 	 	107	 	 	 	26	 	 	 	37	 	 	 	(1	) 	 	 	40	 	  	 	102	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	138	 	  	 	132	 	 	 	125	 	 	 	395	 	 	 	95	 	 	 	139	 	 	 	(4	) 	 	 	148	 	  	 	378	 	
Less: net income from continuing operations attributable to noncontrolling interests	  	 	4	 	  	 	—  	 	 	 	—  	 	 	 	4	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	 	134	 	  	 	132	 	 	 	125	 	 	 	391	 	 	 	95	 	 	 	139	 	 	 	(4	) 	 	 	148	 	  	 	378	 	
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	  			 	  				 				 				 				 				 				 				  				
Net investment (gains) losses	  	 	(1	) 	  	 	2	 	 	 	1	 	 	 	2	 	 	 	1	 	 	 	2	 	 	 	1	 	 	 	—  	 	  	 	4	 	
Expenses related to restructuring	  	 	1	 	  	 	2	 	 	 	—  	 	 	 	3	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	  	 	—  	 	
Taxes on adjustments	  	 	—  	 	  	 	(1	) 	 	 	—  	 	 	 	(1	) 	 	 	(1	) 	 	 	—  	 	 	 	—  	 	 	 	—  	 	  	 	(1	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	134	 	  	$	135	 	 	$	126	 	 	$	395	 	 	$	95	 	 	$	141	 	 	$	(3	) 	 	$	148	 	  	$	381	 	

SALES:	  				  				 				 				 				 				 				 				  				
Primary New Insurance Written (NIW)	  	$	24,000	 	  	$	26,700	 	 	$	24,900	 	 	$	75,600	 	 	$	27,000	 	 	$	26,600	 	 	$	28,400	 	 	$	17,900	 	  	$	99,900	 	

16

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Primary New Insurance Written Metrics—Enact Segment
(amounts in millions)

 	  	  	 	  	  	 	  	2021	 	 	  	 	 	2020	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	
 	  	Primary
NIW	 	  	% of
Primary
NIW	 	  	Primary
NIW	 	  	% of
Primary
NIW	 	 	Primary
NIW	 	  	% of
Primary
NIW	 	 	Primary
NIW	 	  	% of
Primary
NIW	 	 	Primary
NIW	 	  	% of
Primary
NIW	 	 	Primary
NIW	 	  	% of
Primary
NIW	 	 	Primary
NIW	 	  	% of
Primary
NIW	 	
Product	  				  			 	  				  				 				  				 				  				 				  				 				  				 				  				
Monthly	  	$	21,500	 	  	 	90	% 	  	$	24,900	 	  	 	94	% 	 	$	23,400	 	  	 	94	% 	 	$	24,700	 	  	 	92	% 	 	$	23,400	 	  	 	88	% 	 	$	25,800	 	  	 	91	% 	 	$	16,200	 	  	 	91	% 	
Single	  	 	2,400	 	  	 	10	 	  	 	1,700	 	  	 	6	 	 	 	1,400	 	  	 	6	 	 	 	2,200	 	  	 	8	 	 	 	3,100	 	  	 	12	 	 	 	2,500	 	  	 	9	 	 	 	1,500	 	  	 	8	 	
Other(1)	  	 	100	 	  	 	—  	 	  	 	100	 	  	 	—  	 	 	 	100	 	  	 	—  	 	 	 	100	 	  	 	—  	 	 	 	100	 	  	 	—  	 	 	 	100	 	  	 	—  	 	 	 	200	 	  	 	1	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Primary	  	$	24,000	 	  	 	100	% 	  	$	26,700	 	  	 	100	% 	 	$	24,900	 	  	 	100	% 	 	$	27,000	 	  	 	100	% 	 	$	26,600	 	  	 	100	% 	 	$	28,400	 	  	 	100	% 	 	$	17,900	 	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Origination	  				  			 	  				  				 				  				 				  				 				  				 				  				 				  				
Purchase	  	$	21,000	 	  	 	88	% 	  	$	21,100	 	  	 	79	% 	 	$	15,500	 	  	 	62	% 	 	$	17,800	 	  	 	66	% 	 	$	20,000	 	  	 	75	% 	 	$	17,400	 	  	 	61	% 	 	$	12,000	 	  	 	67	% 	
Refinance	  	 	3,000	 	  	 	12	 	  	 	5,600	 	  	 	21	 	 	 	9,400	 	  	 	38	 	 	 	9,200	 	  	 	34	 	 	 	6,600	 	  	 	25	 	 	 	11,000	 	  	 	39	 	 	 	5,900	 	  	 	33	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Primary	  	$	24,000	 	  	 	100	% 	  	$	26,700	 	  	 	100	% 	 	$	24,900	 	  	 	100	% 	 	$	27,000	 	  	 	100	% 	 	$	26,600	 	  	 	100	% 	 	$	28,400	 	  	 	100	% 	 	$	17,900	 	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
FICO Scores	  				  			 	  				  				 				  				 				  				 				  				 				  				 				  				
Over 760	  	$	10,700	 	  	 	45	% 	  	$	11,800	 	  	 	44	% 	 	$	10,500	 	  	 	42	% 	 	$	10,500	 	  	 	39	% 	 	$	11,300	 	  	 	43	% 	 	$	12,300	 	  	 	43	% 	 	$	7,500	 	  	 	42	% 	
740 - 759	  	 	3,800	 	  	 	16	 	  	 	4,000	 	  	 	15	 	 	 	3,800	 	  	 	15	 	 	 	4,300	 	  	 	16	 	 	 	4,100	 	  	 	15	 	 	 	4,800	 	  	 	17	 	 	 	3,200	 	  	 	18	 	
720 - 739	  	 	3,200	 	  	 	13	 	  	 	3,500	 	  	 	13	 	 	 	3,400	 	  	 	14	 	 	 	4,000	 	  	 	15	 	 	 	3,500	 	  	 	13	 	 	 	4,200	 	  	 	15	 	 	 	2,600	 	  	 	14	 	
700 - 719	  	 	2,700	 	  	 	11	 	  	 	3,100	 	  	 	12	 	 	 	3,000	 	  	 	12	 	 	 	3,600	 	  	 	13	 	 	 	3,100	 	  	 	12	 	 	 	3,300	 	  	 	11	 	 	 	2,200	 	  	 	12	 	
680 - 699	  	 	1,900	 	  	 	8	 	  	 	2,500	 	  	 	9	 	 	 	2,500	 	  	 	10	 	 	 	2,700	 	  	 	10	 	 	 	2,400	 	  	 	9	 	 	 	2,200	 	  	 	8	 	 	 	1,500	 	  	 	8	 	
660 - 679(2)	  	 	1,000	 	  	 	4	 	  	 	1,100	 	  	 	4	 	 	 	1,000	 	  	 	4	 	 	 	1,100	 	  	 	4	 	 	 	1,300	 	  	 	5	 	 	 	900	 	  	 	3	 	 	 	500	 	  	 	3	 	
640 - 659	  	 	500	 	  	 	2	 	  	 	500	 	  	 	2	 	 	 	500	 	  	 	2	 	 	 	600	 	  	 	2	 	 	 	600	 	  	 	2	 	 	 	500	 	  	 	2	 	 	 	300	 	  	 	2	 	
620 - 639	  	 	200	 	  	 	1	 	  	 	200	 	  	 	1	 	 	 	200	 	  	 	1	 	 	 	200	 	  	 	1	 	 	 	300	 	  	 	1	 	 	 	200	 	  	 	1	 	 	 	100	 	  	 	1	 	
<620	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Primary	  	$	24,000	 	  	 	100	% 	  	$	26,700	 	  	 	100	% 	 	$	24,900	 	  	 	100	% 	 	$	27,000	 	  	 	100	% 	 	$	26,600	 	  	 	100	% 	 	$	28,400	 	  	 	100	% 	 	$	17,900	 	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Loan-To-Value Ratio	  				  			 	  				  				 				  				 				  				 				  				 				  				 				  				
95.01% and above	  	$	3,400	 	  	 	14	% 	  	$	2,800	 	  	 	11	% 	 	$	2,200	 	  	 	9	% 	 	$	2,900	 	  	 	11	% 	 	$	3,700	 	  	 	14	% 	 	$	3,200	 	  	 	11	% 	 	$	1,800	 	  	 	10	% 	
90.01% to 95.00%	  	 	8,800	 	  	 	37	 	  	 	10,700	 	  	 	40	 	 	 	9,500	 	  	 	38	 	 	 	11,100	 	  	 	41	 	 	 	11,700	 	  	 	44	 	 	 	12,300	 	  	 	43	 	 	 	7,700	 	  	 	43	 	
85.01% to 90.00%	  	 	7,500	 	  	 	31	 	  	 	8,600	 	  	 	32	 	 	 	8,400	 	  	 	34	 	 	 	8,100	 	  	 	30	 	 	 	7,100	 	  	 	27	 	 	 	8,100	 	  	 	29	 	 	 	5,500	 	  	 	31	 	
85.00% and below	  	 	4,300	 	  	 	18	 	  	 	4,600	 	  	 	17	 	 	 	4,800	 	  	 	19	 	 	 	4,900	 	  	 	18	 	 	 	4,100	 	  	 	15	 	 	 	4,800	 	  	 	17	 	 	 	2,900	 	  	 	16	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Primary	  	$	24,000	 	  	 	100	% 	  	$	26,700	 	  	 	100	% 	 	$	24,900	 	  	 	100	% 	 	$	27,000	 	  	 	100	% 	 	$	26,600	 	  	 	100	% 	 	$	28,400	 	  	 	100	% 	 	$	17,900	 	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Debt-To-Income Ratio	  				  			 	  				  				 				  				 				  				 				  				 				  				 				  				
45.01% and above	  	$	4,200	 	  	 	17	% 	  	$	3,300	 	  	 	12	% 	 	$	2,600	 	  	 	10	% 	 	$	3,100	 	  	 	11	% 	 	$	3,100	 	  	 	12	% 	 	$	4,000	 	  	 	14	% 	 	$	3,500	 	  	 	20	% 	
38.01% to 45.00%	  	 	7,900	 	  	 	33	 	  	 	9,200	 	  	 	35	 	 	 	8,700	 	  	 	35	 	 	 	10,200	 	  	 	38	 	 	 	9,900	 	  	 	37	 	 	 	9,600	 	  	 	34	 	 	 	6,000	 	  	 	33	 	
38.00% and below	  	 	11,900	 	  	 	50	 	  	 	14,200	 	  	 	53	 	 	 	13,600	 	  	 	55	 	 	 	13,700	 	  	 	51	 	 	 	13,600	 	  	 	51	 	 	 	14,800	 	  	 	52	 	 	 	8,400	 	  	 	47	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Primary	  	$	24,000	 	  	 	100	% 	  	$	26,700	 	  	 	100	% 	 	$	24,900	 	  	 	100	% 	 	$	27,000	 	  	 	100	% 	 	$	26,600	 	  	 	100	% 	 	$	28,400	 	  	 	100	% 	 	$	17,900	 	  	 	100	% 	

 

(1)	Includes loans with annual and split payment types.	
(2)	Loans with unknown FICO scores are included in the 660-679 category.	
 
17

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Other Metrics—Enact Segment
(dollar amounts in millions)

 	 	2021	 	 	2020	 	
 	 	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
	 									
Primary Insurance In-Force(1)	 	$	222,500	 	  	$	217,500	 	 	$	210,200	 	 				 	$	207,900	 	 	$	203,100	 	 	$	197,000	 	 	$	188,000	 	 				
	 									
Risk In-Force	 			 	  				 				 				 				 				 				 				 				
Primary(2)	 	$	55,866	 	  	$	54,643	 	 	$	52,866	 	 				 	$	52,475	 	 	$	51,393	 	 	$	49,868	 	 	$	47,740	 	 				
Pool	 	 	117	 	  	 	123	 	 	 	134	 	 				 	 	146	 	 	 	156	 	 	 	169	 	 	 	179	 	 				
	 	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Risk In-Force	 	$	55,983	 	  	$	54,766	 	 	$	53,000	 	 				 	$	52,621	 	 	$	51,549	 	 	$	50,037	 	 	$	47,919	 	 				

Expense Ratio (Net Earned Premiums)(3)	 	 	24	% 	  	 	27	% 	 	 	24	% 	 	 	25	% 	 	 	26	% 	 	 	23	% 	 	 	21	% 	 	 	24	% 	 	 	23	% 	
	 									
Primary Persistency	 	 	65	% 	  	 	63	% 	 	 	56	% 	 	 	61	% 	 	 	57	% 	 	 	59	% 	 	 	59	% 	 	 	74	% 	 	 	59	% 	
	 									
Combined Risk To Capital Ratio(4)	 	 	11.8:1	 	  	 	11.8:1	 	 	 	11.7:1	 	 				 	 	12.1:1	 	 	 	12.1:1	 	 	 	12.0:1	 	 	 	12.2:1	 	 				
	 									
GMICO Risk To Capital Ratio(4),(5)	 	 	11.9:1	 	  	 	12.0:1	 	 	 	11.9:1	 	 				 	 	12.3:1	 	 	 	12.3:1	 	 	 	12.2:1	 	 	 	12.4:1	 	 				
	 									
PMIERs Available Assets(6)	 	$	5,126	 	  	$	4,926	 	 	$	4,769	 	 				 	$	4,588	 	 	$	4,451	 	 	$	4,218	 	 	$	3,974	 	 				
	 									
PMIERs Required Assets(6)	 	$	2,839	 	  	$	2,985	 	 	$	3,005	 	 				 	$	3,359	 	 	$	3,377	 	 	$	2,943	 	 	$	2,803	 	 				
	 									
Available Assets Above PMIERs Requirements(6)	 	$	2,287	 	  	$	1,941	 	 	$	1,764	 	 				 	$	1,229	 	 	$	1,074	 	 	$	1,275	 	 	$	1,171	 	 				
	 									
PMIERs Sufficiency Ratio(6)	 	 	181	% 	  	 	165	% 	 	 	159	% 	 				 	 	137	% 	 	 	132	% 	 	 	143	% 	 	 	142	% 	 				
	 									
Average Primary Loan Size (in thousands)	 	$	237	 	  	$	233	 	 	$	228	 	 				 	$	225	 	 	$	222	 	 	$	220	 	 	$	217	 	 				
The expense ratio included above was calculated using whole dollars and may be different than the ratio calculated using the rounded numbers included herein.

(1)	Primary insurance in-force represents aggregate unpaid balance for loans the company insures. Original loan balances are primarily used to determine premiums.	
(2)	Primary risk in-force represents risk on current loan balances as provided by servicers, lenders and investors and conforms to the presentation under the Private Mortgage Insurer Eligibility Requirements (PMIERs).	
(3)	The ratio of an insurer’s general expenses to net earned premiums. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles. Expenses associated with strategic transaction preparations and restructuring costs increased the expense ratio by two percentage points for the three months ended June 30, 2021.	
(4)	Certain states limit a private mortgage insurer’s risk in-force to 25 times the total of the insurer’s policyholders’ surplus plus the statutory contingency reserve, commonly known as the “risk to capital” requirement. The current period risk to capital ratio is an estimate due to the timing of the filing of statutory statements and is prepared consistent with the presentation of the statutory financial statements in the combined annual statement of the company’s U.S. mortgage insurance subsidiaries.	
(5)	Genworth Mortgage Insurance Corporation (GMICO), the company’s principal U.S. mortgage insurance subsidiary.	
(6)	The PMIERs sufficiency ratio is calculated as available assets divided by required assets as defined within PMIERs. The current period PMIERs sufficiency ratio is an estimate due to the timing of the PMIERs filing and does not take into consideration the impact of restrictions recently imposed by the government-sponsored enterprises (GSEs). The GSEs have imposed certain capital restrictions on the company’s Enact segment which remain in effect until certain conditions are met. These restrictions currently require GMICO to maintain 115% of published PMIERs minimum required assets among other restrictions.	
 
18

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Loss Metrics—Enact Segment
(amounts in millions)

 	    	2021	 	 	2020	 	
 	    	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Average Paid Claim (in thousands)(1) 	    	$	26.7	 	  	$	63.1	 	 	$	54.7	 	 				 	$	47.2	 	 	$	55.6	 	 	$	47.1	 	 	$	45.0	 	 				
Average Reserve Per Primary Delinquency (in thousands)(2) 	    	$	21.2	 	  	$	17.5	 	 	$	13.6	 	 				 	$	11.5	 	 	$	8.8	 	 	$	7.1	 	 	$	13.1	 	 				
	 									
Reserves:	    			 	  				 				 				 				 				 				 				 				
Primary direct case	    	$	613	 	  	$	589	 	 	$	564	 	 				 	$	517	 	 	$	436	 	 	$	379	 	 	$	202	 	 				
All other(3)	    	 	35	 	  	 	35	 	 	 	39	 	 				 	 	38	 	 	 	38	 	 	 	60	 	 	 	28	 	 				
	    	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Reserves	    	$	648	 	  	$	624	 	 	$	603	 	 				 	$	555	 	 	$	474	 	 	$	439	 	 	$	230	 	 				

Beginning Reserves	    	$	624	 	  	$	603	 	 	$	555	 	 	$	555	 	 	$	474	 	 	$	439	 	 	$	230	 	 	$	233	 	 	$	233	 	
Paid claims	    	 	(10	) 	  	 	(9	) 	 	 	(7	) 	 	 	(26	) 	 	 	(8	) 	 	 	(10	) 	 	 	(19	) 	 	 	(22	) 	 	 	(59	) 	
Increase in reserves	    	 	34	 	  	 	30	 	 	 	55	 	 	 	119	 	 	 	89	 	 	 	45	 	 	 	228	 	 	 	19	 	 	 	381	 	
	    	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reserves	    	$	648	 	  	$	624	 	 	$	603	 	 	$	648	 	 	$	555	 	 	$	474	 	 	$	439	 	 	$	230	 	 	$	555	 	
	    	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Loss Ratio(4)	    	 	14	% 	  	 	12	% 	 	 	22	% 	 	 	16	% 	 	 	35	% 	 	 	18	% 	 	 	94	% 	 	 	8	% 	 	 	39	% 	
	    	 	 	 	  				 				 				 				 				 				 				 				
The loss ratio included above was calculated using whole dollars and may be different than the ratio calculated using the rounded numbers included herein.    

(1)	Average paid claim in the third quarter of 2021 includes payment in relation to an agreement on non-performing loans.    	
(2)	Primary direct case reserves divided by primary delinquency count.    	
(3)	Other includes loss adjustment expenses, pool, incurred but not reported and reinsurance reserves.    	
(4)	The ratio of benefits and other changes in policy reserves to net earned premiums.     	
 
19

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Delinquency Metrics—Enact Segment
(dollar amounts in millions)

 	 	2021	 	 	2020	 		
 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 		
	Primary Loans	 			 	 				 				 				 				 				 				 				 				
Primary loans in-force	 	 	936,934	 	 	 	933,616	 	 	 	922,186	 	 				 	 	924,624	 	 	 	913,974	 	 	 	896,232	 	 	 	868,111	 	 					
Primary delinquent loans	 	 	28,904	 	 	 	33,568	 	 	 	41,332	 	 				 	 	44,904	 	 	 	49,692	 	 	 	53,587	 	 	 	15,417	 	 					
Primary delinquency rate	 	 	3.08	% 	 	 	3.60	% 	 	 	4.48	% 	 				 	 	4.86	% 	 	 	5.44	% 	 	 	5.98	% 	 	 	1.78	% 	 					
	 										
Beginning Number of Primary Delinquencies	 	 	33,568	 	 	 	41,332	 	 	 	44,904	 	 	 	44,904	 	 	 	49,692	 	 	 	53,587	 	 	 	15,417	 	 	 	16,392	 	 	 	16,392	 		
New delinquencies	 	 	7,427	 	 	 	6,862	 	 	 	10,053	 	 	 	24,342	 	 	 	11,923	 	 	 	16,664	 	 	 	48,373	 	 	 	8,114	 	 	 	85,074	 		
Delinquency cures	 	 	(11,746	) 	 	 	(14,473	) 	 	 	(13,478	) 	 	 	(39,697	) 	 	 	(16,548	) 	 	 	(20,404	) 	 	 	(9,795	) 	 	 	(8,649	) 	 	 	(55,396	) 		
Paid claims	 	 	(343	) 	 	 	(143	) 	 	 	(134	) 	 	 	(620	) 	 	 	(152	) 	 	 	(152	) 	 	 	(404	) 	 	 	(440	) 	 	 	(1,148	) 		
Rescissions and claim denials	 	 	(2	) 	 	 	(10	) 	 	 	(13	) 	 	 	(25	) 	 	 	(11	) 	 	 	(3	) 	 	 	(4	) 	 	 	—  	 	 	 	(18	) 		
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
Ending Number of Primary Delinquencies	 	 	28,904	 	 	 	33,568	 	 	 	41,332	 	 	 	28,904	 	 	 	44,904	 	 	 	49,692	 	 	 	53,587	 	 	 	15,417	 	 	 	44,904	 		

Composition of Cures	 			 	 				 				 				 				 				 				 				 					
Reported delinquent and cured-intraquarter	 	 	1,143	 	 	 	1,149	 	 	 	1,549	 	 				 	 	1,433	 	 	 	1,939	 	 	 	3,992	 	 	 	2,236	 	 					
Number of missed payments delinquent prior to cure:	 			 	 				 				 				 				 				 				 				 					
3 payments or less	 	 	3,080	 	 	 	4,179	 	 	 	4,812	 	 				 	 	5,567	 	 	 	13,022	 	 	 	4,522	 	 	 	4,850	 	 					
4 - 11 payments	 	 	3,492	 	 	 	6,055	 	 	 	6,849	 	 				 	 	9,347	 	 	 	5,239	 	 	 	1,122	 	 	 	1,389	 	 					
12 payments or more	 	 	4,031	 	 	 	3,090	 	 	 	268	 	 				 	 	201	 	 	 	204	 	 	 	159	 	 	 	174	 	 					
	 	 	 	 	 	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 					
Total	 	 	11,746	 	 	 	14,473	 	 	 	13,478	 	 				 	 	16,548	 	 	 	20,404	 	 	 	9,795	 	 	 	8,649	 	 					
	 	 	 	 	 	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 					
Primary Delinquencies by Missed Payment Status	 			 	 				 				 				 				 				 				 				 					
3 payments or less	 	 	6,192	 	 	 	6,030	 	 	 	8,296	 	 				 	 	10,484	 	 	 	13,904	 	 	 	43,158	 	 	 	7,650	 	 					
4 - 11 payments	 	 	9,021	 	 	 	12,378	 	 	 	21,011	 	 				 	 	30,324	 	 	 	32,366	 	 	 	7,448	 	 	 	4,909	 	 					
12 payments or more	 	 	13,691	 	 	 	15,160	 	 	 	12,025	 	 				 	 	4,096	 	 	 	3,422	 	 	 	2,981	 	 	 	2,858	 	 					
	 	 	 	 	 	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 					
Primary Delinquencies	 	 	28,904	 	 	 	33,568	 	 	 	41,332	 	 				 	 	44,904	 	 	 	49,692	 	 	 	53,587	 	 	 	15,417	 	 					

	 	 	 	 	 				 				 				 				 				 				 				 					
									
 	 	September 30, 2021	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
	Primary Direct Case Reserves(1) and Percentage
Reserved by Payment Status	 	Direct Case
Reserves	 	 	Risk
In-Force	 	 	Reserves as % of
Risk In-Force	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
3 payments or less in default	 	$	32	 	 	$	320	 	 	 	10	% 	 				 				 				 				 				 					
4 - 11 payments in default	 	 	128	 	 	 	528	 	 	 	24	% 	 				 				 				 				 				 					
12 payments or more in default	 	 	453	 	 	 	813	 	 	 	56	% 	 				 				 				 				 				 					
	 	 	 	 	 	 	 	 	 				 				 				 				 				 				 					
Total	 	$	613	 	 	$	1,661	 	 	 	37	% 	 				 				 				 				 				 					

 	 	December 31, 2020	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
	Primary Direct Case Reserves(1) and Percentage
Reserved by Payment Status	 	Direct Case
Reserves	 	 	Risk
In-Force	 	 	Reserves as % of
Risk In-Force	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
3 payments or less in default	 	$	43	 	 	$	549	 	 	 	8	% 	 				 				 				 				 				 					
4 - 11 payments in default	 	 	331	 	 	 	1,853	 	 	 	18	% 	 				 				 				 				 				 					
12 payments or more in default	 	 	143	 	 	 	204	 	 	 	70	% 	 				 				 				 				 				 					
	 	 	 	 	 	 	 	 	 				 				 				 				 				 				 					
Total	 	$	517	 	 	$	2,606	 	 	 	20	% 	 				 				 				 				 				 					

(1)	Primary direct case reserves exclude loss adjustment expenses, incurred but not reported and reinsurance reserves.	
 
20

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Portfolio Quality Metrics—Enact Segment
(amounts in millions)

 	  	September 30, 2021	 		
	Policy Year	  	Average Rate(1)	 	 	% of Direct Case
Reserves(2)	 	 	Primary Insurance
In-Force	 	  	% of Total	 	 	Primary Risk
In-Force	 	  	% of Total	 	 	Delinquency
Rate	 	
2004 and prior	  	 	6.19	% 	 	 	3	% 	 	$	583	 	  	 	—  	% 	 	$	167	 	  	 	—  	% 	 	 	14.96	% 		
2005 to 2008	  	 	5.57	% 	 	 	24	 	 	 	8,380	 	  	 	4	 	 	 	2,142	 	  	 	4	 	 	 	11.14	% 		
2009 to 2013	  	 	4.28	% 	 	 	3	 	 	 	1,656	 	  	 	1	 	 	 	441	 	  	 	1	 	 	 	6.03	% 		
2014	  	 	4.49	% 	 	 	3	 	 	 	2,293	 	  	 	1	 	 	 	621	 	  	 	1	 	 	 	5.81	% 		
2015	  	 	4.17	% 	 	 	5	 	 	 	5,087	 	  	 	2	 	 	 	1,355	 	  	 	2	 	 	 	4.67	% 		
2016	  	 	3.89	% 	 	 	8	 	 	 	10,082	 	  	 	4	 	 	 	2,676	 	  	 	5	 	 	 	4.31	% 		
2017	  	 	4.26	% 	 	 	10	 	 	 	10,185	 	  	 	5	 	 	 	2,631	 	  	 	5	 	 	 	5.31	% 		
2018	  	 	4.78	% 	 	 	13	 	 	 	10,568	 	  	 	5	 	 	 	2,656	 	  	 	5	 	 	 	6.51	% 		
2019	  	 	4.20	% 	 	 	18	 	 	 	24,884	 	  	 	11	 	 	 	6,239	 	  	 	11	 	 	 	4.43	% 		
2020	  	 	3.24	% 	 	 	12	 	 	 	75,785	 	  	 	34	 	 	 	18,965	 	  	 	34	 	 	 	1.43	% 		
2021	  	 	3.04	% 	 	 	1	 	 	 	72,961	 	  	 	33	 	 	 	17,973	 	  	 	32	 	 	 	0.24	% 		
	  				 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 					
Total	  	 	3.57	% 	 	 	100	% 	 	$	222,464	 	  	 	100	% 	 	$	55,866	 	  	 	100	% 	 	 	3.08	% 		

 	  	September 30, 2021	 	 	June 30, 2021	 	 	September 30, 2020	 	 	 	 		
 	  	Primary Risk
In-Force	 	 	Percent of
Primary Risk
In-Force	 	 	Primary Risk
In-Force	 	  	Percent of
Primary Risk
In-Force	 	 	Primary Risk
In-Force	 	  	Percent of
Primary Risk
In-Force	 	 	 	 		
Loan-to-value ratio	  				 				 				  				 				  				 					
95.01% and above	  	$	9,490	 	 	 	17	% 	 	$	9,228	 	  	 	17	% 	 	$	9,196	 	  	 	18	% 	 					
90.01% to 95.00%	  	 	27,509	 	 	 	49	 	 	 	27,308	 	  	 	50	 	 	 	26,403	 	  	 	51	 	 					
85.01% to 90.00%	  	 	15,322	 	 	 	28	 	 	 	14,776	 	  	 	27	 	 	 	13,188	 	  	 	26	 	 					
85.00% and below	  	 	3,545	 	 	 	6	 	 	 	3,331	 	  	 	6	 	 	 	2,606	 	  	 	5	 	 					
	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 					
Total	  	$	55,866	 	 	 	100	% 	 	$	54,643	 	  	 	100	% 	 	$	51,393	 	  	 	100	% 	 					

 	  	September 30, 2021	 	 	June 30, 2021	 	 	September 30, 2020	 	 	 	 		
 	  	Primary Risk
In-Force	 	 	Percent of
Primary Risk
In-Force	 	 	Primary Risk
In-Force	 	  	Percent of
Primary Risk
In-Force	 	 	Primary Risk
In-Force	 	  	Percent of
Primary Risk
In-Force	 	 	 	 		
Credit Quality	  				 				 				  				 				  				 					
Over 760	  	$	21,767	 	 	 	39	% 	 	$	20,908	 	  	 	38	% 	 	$	19,549	 	  	 	38	% 	 					
740 - 759	  	 	8,824	 	 	 	16	 	 	 	8,628	 	  	 	16	 	 	 	8,424	 	  	 	16	 	 					
720 - 739	  	 	7,966	 	 	 	14	 	 	 	7,879	 	  	 	14	 	 	 	7,489	 	  	 	15	 	 					
700 - 719	  	 	6,923	 	 	 	12	 	 	 	6,848	 	  	 	13	 	 	 	6,288	 	  	 	12	 	 					
680 - 699	  	 	5,383	 	 	 	10	 	 	 	5,385	 	  	 	10	 	 	 	4,864	 	  	 	9	 	 					
660 - 679(3)	  	 	2,568	 	 	 	5	 	 	 	2,531	 	  	 	5	 	 	 	2,331	 	  	 	5	 	 					
640 - 659	  	 	1,497	 	 	 	3	 	 	 	1,494	 	  	 	3	 	 	 	1,423	 	  	 	3	 	 					
620 - 639	  	 	705	 	 	 	1	 	 	 	720	 	  	 	1	 	 	 	725	 	  	 	1	 	 					
<620	  	 	233	 	 	 	—	 	 	 	250	 	  	 	—	 	 	 	300	 	  	 	1	 	 					
	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 					
Total	  	$	55,866	 	 	 	100	% 	 	$	54,643	 	  	 	100	% 	 	$	51,393	 	  	 	100	% 	 					

(1) 	Average annual mortgage interest rate weighted by insurance in-force.	
(2) 	Direct primary case reserves exclude loss adjustment expenses, incurred but not reported and reinsurance reserves.	
(3) 	Loans with unknown FICO scores are included in the 660-679 category.	
 
21

 
U.S. Life Insurance Segment

 
22

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment
(amounts in millions)

 	  	2021	 	 	2020	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				 				 				 				
Premiums	  	$	699	 	  	$	703	 	 	$	714	 	 	$	2,116	 	 	$	717	 	 	$	711	 	 	$	712	 	 	$	718	 	 	$	2,858	 	
Net investment income	  	 	773	 	  	 	763	 	 	 	716	 	 	 	2,252	 	 	 	765	 	 	 	726	 	 	 	692	 	 	 	695	 	 	 	2,878	 	
Net investment gains (losses)	  	 	87	 	  	 	66	 	 	 	42	 	 	 	195	 	 	 	121	 	 	 	348	 	 	 	118	 	 	 	(70	) 	 	 	517	 	
Policy fees and other income	  	 	144	 	  	 	145	 	 	 	148	 	 	 	437	 	 	 	157	 	 	 	152	 	 	 	142	 	 	 	144	 	 	 	595	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	1,703	 	  	 	1,677	 	 	 	1,620	 	 	 	5,000	 	 	 	1,760	 	 	 	1,937	 	 	 	1,664	 	 	 	1,487	 	 	 	6,848	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	1,097	 	  	 	1,129	 	 	 	1,155	 	 	 	3,381	 	 	 	1,050	 	 	 	1,221	 	 	 	1,213	 	 	 	1,297	 	 	 	4,781	 	
Interest credited	  	 	85	 	  	 	87	 	 	 	90	 	 	 	262	 	 	 	91	 	 	 	95	 	 	 	97	 	 	 	100	 	 	 	383	 	
Acquisition and operating expenses, net of deferrals	  	 	211	 	  	 	219	 	 	 	192	 	 	 	622	 	 	 	164	 	 	 	158	 	 	 	147	 	 	 	151	 	 	 	620	 	
Amortization of deferred acquisition costs and intangibles	  	 	96	 	  	 	77	 	 	 	68	 	 	 	241	 	 	 	161	 	 	 	87	 	 	 	83	 	 	 	87	 	 	 	418	 	
Interest expense	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	5	 	 	 	5	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	1,489	 	  	 	1,512	 	 	 	1,505	 	 	 	4,506	 	 	 	1,466	 	 	 	1,561	 	 	 	1,540	 	 	 	1,640	 	 	 	6,207	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	214	 	  	 	165	 	 	 	115	 	 	 	494	 	 	 	294	 	 	 	376	 	 	 	124	 	 	 	(153	) 	 	 	641	 	
Provision (benefit) for income taxes	  	 	53	 	  	 	42	 	 	 	32	 	 	 	127	 	 	 	70	 	 	 	87	 	 	 	33	 	 	 	(27	) 	 	 	163	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	161	 	  	 	123	 	 	 	83	 	 	 	367	 	 	 	224	 	 	 	289	 	 	 	91	 	 	 	(126	) 	 	 	478	 	
	 									
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				 				 				 				
Net investment (gains) losses, net(1)	  	 	(87	) 	  	 	(67	) 	 	 	(41	) 	 	 	(195	) 	 	 	(123	) 	 	 	(348	) 	 	 	(121	) 	 	 	67	 	 	 	(525	) 	
Losses on early extinguishment of debt	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	4	 	 	 	4	 	
Expenses related to restructuring	  	 	1	 	  	 	2	 	 	 	14	 	 	 	17	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	
Taxes on adjustments	  	 	18	 	  	 	13	 	 	 	6	 	 	 	37	 	 	 	27	 	 	 	73	 	 	 	25	 	 	 	(15	) 	 	 	110	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	93	 	  	$	71	 	 	$	62	 	 	$	226	 	 	$	129	 	 	$	14	 	 	$	(5	) 	 	$	(70	) 	 	$	68	 	

 
(1)  Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves as reconciled below:	   	
Net investment (gains) losses, gross	  	$	(87	) 	  	$	(66	) 	 	$	(42	) 	 	$	(195	) 	 	$	(121	) 	 	$	(348	) 	 	$	(118	) 	 	$	70	 	 	$	(517	) 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	—  	 	  	 	(1	) 	 	 	1	 	 	 	—  	 	 	 	(2	) 	 	 	—  	 	 	 	(3	) 	 	 	(3	) 	 	 	(8	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment (gains) losses, net	  	$	(87	) 	  	$	(67	) 	 	$	(41	) 	 	$	(195	) 	 	$	(123	) 	 	$	(348	) 	 	$	(121	) 	 	$	67	 	 	$	(525	) 	

23

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Adjusted Operating Income—U.S. Life Insurance Segment—Long-Term Care Insurance
(amounts in millions)

 	  	2021	 	 	2020	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				 				 				 				
Premiums	  	$	652	 	  	$	648	 	 	$	646	 	 	$	1,946	 	 	$	668	 	 	$	661	 	 	$	649	 	 	$	642	 	 	$	2,620	 	
Net investment income	  	 	521	 	  	 	509	 	 	 	465	 	 	 	1,495	 	 	 	499	 	 	 	456	 	 	 	422	 	 	 	419	 	 	 	1,796	 	
Net investment gains (losses)	  	 	80	 	  	 	67	 	 	 	27	 	 	 	174	 	 	 	118	 	 	 	347	 	 	 	129	 	 	 	(55	) 	 	 	539	 	
Policy fees and other income	  	 	3	 	  	 	2	 	 	 	2	 	 	 	7	 	 	 	3	 	 	 	2	 	 	 	—  	 	 	 	—  	 	 	 	5	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	1,256	 	  	 	1,226	 	 	 	1,140	 	 	 	3,622	 	 	 	1,288	 	 	 	1,466	 	 	 	1,200	 	 	 	1,006	 	 	 	4,960	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	802	 	  	 	822	 	 	 	829	 	 	 	2,453	 	 	 	863	 	 	 	901	 	 	 	876	 	 	 	928	 	 	 	3,568	 	
Interest credited	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Acquisition and operating expenses, net of deferrals	  	 	165	 	  	 	176	 	 	 	141	 	 	 	482	 	 	 	114	 	 	 	108	 	 	 	103	 	 	 	101	 	 	 	426	 	
Amortization of deferred acquisition costs and intangibles	  	 	31	 	  	 	27	 	 	 	24	 	 	 	82	 	 	 	21	 	 	 	25	 	 	 	21	 	 	 	24	 	 	 	91	 	
Interest expense	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	998	 	  	 	1,025	 	 	 	994	 	 	 	3,017	 	 	 	998	 	 	 	1,034	 	 	 	1,000	 	 	 	1,053	 	 	 	4,085	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	258	 	  	 	201	 	 	 	146	 	 	 	605	 	 	 	290	 	 	 	432	 	 	 	200	 	 	 	(47	) 	 	 	875	 	
Provision (benefit) for income taxes	  	 	63	 	  	 	50	 	 	 	38	 	 	 	151	 	 	 	69	 	 	 	99	 	 	 	49	 	 	 	(4	) 	 	 	213	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	195	 	  	 	151	 	 	 	108	 	 	 	454	 	 	 	221	 	 	 	333	 	 	 	151	 	 	 	(43	) 	 	 	662	 	
	 									
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				 				 				 				
Net investment (gains) losses	  	 	(80	) 	  	 	(67	) 	 	 	(27	) 	 	 	(174	) 	 	 	(118	) 	 	 	(347	) 	 	 	(129	) 	 	 	55	 	 	 	(539	) 	
Expenses related to restructuring	  	 	1	 	  	 	1	 	 	 	10	 	 	 	12	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	
Taxes on adjustments	  	 	17	 	  	 	13	 	 	 	4	 	 	 	34	 	 	 	25	 	 	 	73	 	 	 	26	 	 	 	(11	) 	 	 	113	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME	  	$	133	 	  	$	98	 	 	$	95	 	 	$	326	 	 	$	129	 	 	$	59	 	 	$	48	 	 	$	1	 	 	$	237	 	

RATIOS:	  				  				 				 				 				 				 				 				 				
Loss Ratio(1)	  	 	58	% 	  	 	62	% 	 	 	62	% 	 	 	61	% 	 	 	65	% 	 	 	71	% 	 	 	69	% 	 	 	78	% 	 	 	71	% 	
Gross Benefits Ratio(2)	  	 	123	% 	  	 	127	% 	 	 	128	% 	 	 	126	% 	 	 	129	% 	 	 	136	% 	 	 	135	% 	 	 	145	% 	 	 	136	% 	

(1) 	The loss ratio was calculated by dividing benefits and other changes in policy reserves less tabular interest on reserves less loss adjustment expenses by net earned premiums.	
(2) 	The gross benefits ratio was calculated by dividing benefits and other changes in policy reserves by net earned premiums.	
 
24

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Adjusted Operating Loss—U.S. Life Insurance Segment—Life Insurance
(amounts in millions)

 	 	2021	 	 	2020	 	
 	 	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	 			 	  				 				 				 				 				 				 				 				
Premiums	 	$	47	 	  	$	55	 	 	$	68	 	 	$	170	 	 	$	49	 	 	$	50	 	 	$	63	 	 	$	76	 	 	$	238	 	
Net investment income	 	 	128	 	  	 	126	 	 	 	125	 	 	 	379	 	 	 	131	 	 	 	131	 	 	 	127	 	 	 	130	 	 	 	519	 	
Net investment gains (losses)	 	 	6	 	  	 	6	 	 	 	12	 	 	 	24	 	 	 	10	 	 	 	4	 	 	 	5	 	 	 	1	 	 	 	20	 	
Policy fees and other income	 	 	139	 	  	 	142	 	 	 	143	 	 	 	424	 	 	 	151	 	 	 	148	 	 	 	140	 	 	 	141	 	 	 	580	 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	 	 	320	 	  	 	329	 	 	 	348	 	 	 	997	 	 	 	341	 	 	 	333	 	 	 	335	 	 	 	348	 	 	 	1,357	 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	 			 	  				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	 	 	252	 	  	 	245	 	 	 	282	 	 	 	779	 	 	 	131	 	 	 	269	 	 	 	289	 	 	 	302	 	 	 	991	 	
Interest credited	 	 	53	 	  	 	53	 	 	 	56	 	 	 	162	 	 	 	55	 	 	 	57	 	 	 	57	 	 	 	59	 	 	 	228	 	
Acquisition and operating expenses, net of deferrals	 	 	36	 	  	 	34	 	 	 	40	 	 	 	110	 	 	 	38	 	 	 	39	 	 	 	34	 	 	 	39	 	 	 	150	 	
Amortization of deferred acquisition costs and intangibles	 	 	59	 	  	 	43	 	 	 	41	 	 	 	143	 	 	 	133	 	 	 	52	 	 	 	53	 	 	 	44	 	 	 	282	 	
Interest expense	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	5	 	 	 	5	 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	 	 	400	 	  	 	375	 	 	 	419	 	 	 	1,194	 	 	 	357	 	 	 	417	 	 	 	433	 	 	 	449	 	 	 	1,656	 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	 	 	(80	) 	  	 	(46	) 	 	 	(71	) 	 	 	(197	) 	 	 	(16	) 	 	 	(84	) 	 	 	(98	) 	 	 	(101	) 	 	 	(299	) 	
Benefit for income taxes	 	 	(17	) 	  	 	(10	) 	 	 	(15	) 	 	 	(42	) 	 	 	(3	) 	 	 	(18	) 	 	 	(21	) 	 	 	(22	) 	 	 	(64	) 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LOSS FROM CONTINUING OPERATIONS	 	 	(63	) 	  	 	(36	) 	 	 	(56	) 	 	 	(155	) 	 	 	(13	) 	 	 	(66	) 	 	 	(77	) 	 	 	(79	) 	 	 	(235	) 	
	 									
ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:	 			 	  				 				 				 				 				 				 				 				
Net investment (gains) losses	 	 	(6	) 	  	 	(6	) 	 	 	(12	) 	 	 	(24	) 	 	 	(10	) 	 	 	(4	) 	 	 	(5	) 	 	 	(1	) 	 	 	(20	) 	
Losses on early extinguishment of debt	 	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	4	 	 	 	4	 	
Expenses related to restructuring	 	 	—  	 	  	 	1	 	 	 	3	 	 	 	4	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Taxes on adjustments	 	 	1	 	  	 	1	 	 	 	2	 	 	 	4	 	 	 	3	 	 	 	1	 	 	 	1	 	 	 	(1	) 	 	 	4	 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING LOSS	 	$	(68	) 	  	$	(40	) 	 	$	(63	) 	 	$	(171	) 	 	$	(20	) 	 	$	(69	) 	 	$	(81	) 	 	$	(77	) 	 	$	(247	) 	

 
25

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Adjusted Operating Income—U.S. Life Insurance Segment—Fixed Annuities
(amounts in millions)

 	  	2021	 	 	2020	 	
 	  	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	 				 				 				 				 				 				 				 				
Premiums	  	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	
Net investment income	  	 	124	 	 	 	128	 	 	 	126	 	 	 	378	 	 	 	135	 	 	 	139	 	 	 	143	 	 	 	146	 	 	 	563	 	
Net investment gains (losses)	  	 	1	 	 	 	(7	) 	 	 	3	 	 	 	(3	) 	 	 	(7	) 	 	 	(3	) 	 	 	(16	) 	 	 	(16	) 	 	 	(42	) 	
Policy fees and other income	  	 	2	 	 	 	1	 	 	 	3	 	 	 	6	 	 	 	3	 	 	 	2	 	 	 	2	 	 	 	3	 	 	 	10	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	127	 	 	 	122	 	 	 	132	 	 	 	381	 	 	 	131	 	 	 	138	 	 	 	129	 	 	 	133	 	 	 	531	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	 				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	43	 	 	 	62	 	 	 	44	 	 	 	149	 	 	 	56	 	 	 	51	 	 	 	48	 	 	 	67	 	 	 	222	 	
Interest credited	  	 	32	 	 	 	34	 	 	 	34	 	 	 	100	 	 	 	36	 	 	 	38	 	 	 	40	 	 	 	41	 	 	 	155	 	
Acquisition and operating expenses, net of deferrals	  	 	10	 	 	 	9	 	 	 	11	 	 	 	30	 	 	 	12	 	 	 	11	 	 	 	10	 	 	 	11	 	 	 	44	 	
Amortization of deferred acquisition costs and intangibles	  	 	6	 	 	 	7	 	 	 	3	 	 	 	16	 	 	 	7	 	 	 	10	 	 	 	9	 	 	 	19	 	 	 	45	 	
Interest expense	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	91	 	 	 	112	 	 	 	92	 	 	 	295	 	 	 	111	 	 	 	110	 	 	 	107	 	 	 	138	 	 	 	466	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	36	 	 	 	10	 	 	 	40	 	 	 	86	 	 	 	20	 	 	 	28	 	 	 	22	 	 	 	(5	) 	 	 	65	 	
Provision (benefit) for income taxes	  	 	7	 	 	 	2	 	 	 	9	 	 	 	18	 	 	 	4	 	 	 	6	 	 	 	5	 	 	 	(1	) 	 	 	14	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	29	 	 	 	8	 	 	 	31	 	 	 	68	 	 	 	16	 	 	 	22	 	 	 	17	 	 	 	(4	) 	 	 	51	 	
	 									
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	 				 				 				 				 				 				 				 				
Net investment (gains) losses, net(1)	  	 	(1	) 	 	 	6	 	 	 	(2	) 	 	 	3	 	 	 	5	 	 	 	3	 	 	 	13	 	 	 	13	 	 	 	34	 	
Expenses related to restructuring	  	 	—  	 	 	 	—  	 	 	 	1	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Taxes on adjustments	  	 	—  	 	 	 	(1	) 	 	 	—  	 	 	 	(1	) 	 	 	(1	) 	 	 	(1	) 	 	 	(2	) 	 	 	(3	) 	 	 	(7	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME	  	$	28	 	 	$	13	 	 	$	30	 	 	$	71	 	 	$	20	 	 	$	24	 	 	$	28	 	 	$	6	 	 	$	78	 	

 
(1)  Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves as reconciled below:	   	 				
Net investment (gains) losses, gross	  	$	(1	) 	 	$	7	 	 	$	(3	) 	 	$	3	 	 	$	7	 	 	$	3	 	 	$	16	 	 	$	16	 	 	$	42	 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	—  	 	 	 	(1	) 	 	 	1	 	 	 	—  	 	 	 	(2	) 	 	 	—  	 	 	 	(3	) 	 	 	(3	) 	 	 	(8	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment (gains) losses, net	  	$	(1	) 	 	$	6	 	 	$	(2	) 	 	$	3	 	 	$	5	 	 	$	3	 	 	$	13	 	 	$	13	 	 	$	34	 	

26

 
Runoff Segment

 
27

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Adjusted Operating Income (Loss)—Runoff Segment
(amounts in millions)

 	 	2021	 	 	2020	 	
 	 	3Q	 	  	2Q	 	  	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	 			 	  				  				 				 				 				 				 				 				
Net investment income	 	$	49	 	  	$	43	 	  	$	49	 	 	$	141	 	 	$	52	 	 	$	55	 	 	$	54	 	 	$	49	 	 	$	210	 	
Net investment gains (losses)	 	 	(1	) 	  	 	10	 	  	 	(6	) 	 	 	3	 	 	 	30	 	 	 	15	 	 	 	4	 	 	 	(75	) 	 	 	(26	) 	
Policy fees and other income	 	 	33	 	  	 	35	 	  	 	33	 	 	 	101	 	 	 	32	 	 	 	33	 	 	 	32	 	 	 	33	 	 	 	130	 	
	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	 	 	81	 	  	 	88	 	  	 	76	 	 	 	245	 	 	 	114	 	 	 	103	 	 	 	90	 	 	 	7	 	 	 	314	 	
	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	 			 	  				  				 				 				 				 				 				 				
Benefits and other changes in policy reserves	 	 	12	 	  	 	2	 	  	 	8	 	 	 	22	 	 	 	17	 	 	 	7	 	 	 	4	 	 	 	20	 	 	 	48	 	
Interest credited	 	 	38	 	  	 	40	 	  	 	41	 	 	 	119	 	 	 	41	 	 	 	42	 	 	 	42	 	 	 	41	 	 	 	166	 	
Acquisition and operating expenses, net of deferrals	 	 	12	 	  	 	14	 	  	 	13	 	 	 	39	 	 	 	12	 	 	 	12	 	 	 	11	 	 	 	13	 	 	 	48	 	
Amortization of deferred acquisition costs and intangibles	 	 	7	 	  	 	4	 	  	 	5	 	 	 	16	 	 	 	3	 	 	 	4	 	 	 	(1	) 	 	 	17	 	 	 	23	 	
	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	 	 	69	 	  	 	60	 	  	 	67	 	 	 	196	 	 	 	73	 	 	 	65	 	 	 	56	 	 	 	91	 	 	 	285	 	
	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	 	 	12	 	  	 	28	 	  	 	9	 	 	 	49	 	 	 	41	 	 	 	38	 	 	 	34	 	 	 	(84	) 	 	 	29	 	
Provision (benefit) for income taxes	 	 	2	 	  	 	6	 	  	 	1	 	 	 	9	 	 	 	8	 	 	 	8	 	 	 	6	 	 	 	(18	) 	 	 	4	 	
	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	 	 	10	 	  	 	22	 	  	 	8	 	 	 	40	 	 	 	33	 	 	 	30	 	 	 	28	 	 	 	(66	) 	 	 	25	 	
	 									
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	 			 	  				  				 				 				 				 				 				 				
Net investment (gains) losses, net(1)	 	 	1	 	  	 	(9	) 	  	 	5	 	 	 	(3	) 	 	 	(25	) 	 	 	(14	) 	 	 	(5	) 	 	 	67	 	 	 	23	 	
Taxes on adjustments	 	 	—	 	  	 	2	 	  	 	(1	) 	 	 	1	 	 	 	5	 	 	 	3	 	 	 	1	 	 	 	(14	) 	 	 	(5	) 	
	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	 	$	11	 	  	$	15	 	  	$	12	 	 	$	38	 	 	$	13	 	 	$	19	 	 	$	24	 	 	$	(13	) 	 	$	43	 	

 
(1)  Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves as reconciled below:	   	
Net investment (gains) losses, gross	 	$	1	 	  	$	(10	) 	  	$	6	 	 	$	(3	) 	 	$	(30	) 	 	$	(15	) 	 	$	(4	) 	 	$	75	 	 	$	26	 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	 	 	—  	 	  	 	1	 	  	 	(1	) 	 	 	—  	 	 	 	5	 	 	 	1	 	 	 	(1	) 	 	 	(8	) 	 	 	(3	) 	
	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment (gains) losses, net	 	$	1	 	  	$	(9	) 	  	$	5	 	 	$	(3	) 	 	$	(25	) 	 	$	(14	) 	 	$	(5	) 	 	$	67	 	 	$	23	 	

28

 
Corporate and Other

 
29

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Adjusted Operating Income (Loss)—Corporate and Other(1),(2)
(amounts in millions)

 	  	2021	 	  	2020	 	
 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				  				  				  				
Premiums	  	$	2	 	  	$	1	 	  	$	2	 	  	$	5	 	  	$	2	 	  	$	1	 	  	$	2	 	  	$	2	 	  	$	7	 	
Net investment income	  	 	1	 	  	 	3	 	  	 	1	 	  	 	5	 	  	 	(6	) 	  	 	5	 	  	 	2	 	  	 	5	 	  	 	6	 	
Net investment gains (losses)	  	 	1	 	  	 	(4	) 	  	 	(2	) 	  	 	(5	) 	  	 	(3	) 	  	 	(10	) 	  	 	(28	) 	  	 	46	 	  	 	5	 	
Policy fees and other income	  	 	1	 	  	 	—  	 	  	 	—  	 	  	 	1	 	  	 	—  	 	  	 	(2	) 	  	 	(1	) 	  	 	1	 	  	 	(2	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	5	 	  	 	—  	 	  	 	1	 	  	 	6	 	  	 	(7	) 	  	 	(6	) 	  	 	(25	) 	  	 	54	 	  	 	16	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				  				  				  				  				  				  				  				
Benefits and other changes in policy reserves	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	1	 	  	 	—  	 	  	 	2	 	  	 	1	 	  	 	4	 	
Acquisition and operating expenses, net of deferrals	  	 	12	 	  	 	8	 	  	 	13	 	  	 	33	 	  	 	22	 	  	 	11	 	  	 	5	 	  	 	23	 	  	 	61	 	
Amortization of deferred acquisition costs and intangibles	  	 	—  	 	  	 	1	 	  	 	—  	 	  	 	1	 	  	 	—  	 	  	 	—  	 	  	 	1	 	  	 	—  	 	  	 	1	 	
Interest expense	  	 	22	 	  	 	31	 	  	 	38	 	  	 	91	 	  	 	43	 	  	 	41	 	  	 	42	 	  	 	46	 	  	 	172	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	34	 	  	 	40	 	  	 	51	 	  	 	125	 	  	 	66	 	  	 	52	 	  	 	50	 	  	 	70	 	  	 	238	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(29	) 	  	 	(40	) 	  	 	(50	) 	  	 	(119	) 	  	 	(73	) 	  	 	(58	) 	  	 	(75	) 	  	 	(16	) 	  	 	(222	) 	
Benefit for income taxes	  	 	(26	) 	  	 	(8	) 	  	 	(8	) 	  	 	(42	) 	  	 	(22	) 	  	 	(2	) 	  	 	(15	) 	  	 	—  	 	  	 	(39	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
LOSS FROM CONTINUING OPERATIONS	  	 	(3	) 	  	 	(32	) 	  	 	(42	) 	  	 	(77	) 	  	 	(51	) 	  	 	(56	) 	  	 	(60	) 	  	 	(16	) 	  	 	(183	) 	
	 									
ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:	  			 	  				  				  				  				  				  				  				  				
Net investment (gains) losses	  	 	(1	) 	  	 	4	 	  	 	2	 	  	 	5	 	  	 	3	 	  	 	10	 	  	 	28	 	  	 	(46	) 	  	 	(5	) 	
(Gains) losses on early extinguishment of debt	  	 	6	 	  	 	—  	 	  	 	4	 	  	 	10	 	  	 	—  	 	  	 	—  	 	  	 	(3	) 	  	 	8	 	  	 	5	 	
Expenses related to restructuring	  	 	1	 	  	 	1	 	  	 	7	 	  	 	9	 	  	 	—  	 	  	 	—  	 	  	 	1	 	  	 	1	 	  	 	2	 	
Taxes on adjustments	  	 	(2	) 	  	 	—  	 	  	 	(3	) 	  	 	(5	) 	  	 	(1	) 	  	 	(3	) 	  	 	(5	) 	  	 	8	 	  	 	(1	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	1	 	  	$	(27)	 	  	$	(32)	 	  	$	(58)	 	  	$	(49)	 	  	$	(49)	 	  	$	(39)	 	  	$	(45)	 	  	$	(182)	 	

 
(1)  Includes inter-segment eliminations and the results of other businesses that are managed outside the operating segments, including certain international mortgage insurance businesses.
(2)  Income (loss) from discontinued operations is considered part of Corporate and Other activities but is excluded from the above table. Income (loss) from discontinued operations on pages 8 and 9 herein include operating results of Genworth Australia that was sold on March 3, 2021 and amounts related to the company’s former lifestyle protection insurance business that was sold on December 1, 2015. In the third quarter of 2021, the company refined its original after-tax loss on sale of Genworth Australia by recording a favorable provision to return tax adjustment of $3 million. Operating results of Genworth Australia reported as discontinued operations were as follows:
 	   
   
	
  	  	2021	 	  	2020	 	
 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  				  				  				  				  				  				  				  				  				
Premiums	  	$	—  	 	  	$	—  	 	  	$	51	 	  	$	51	 	  	$	72	 	  	$	71	 	  	$	62	 	  	$	69	 	  	$	274	 	
Net investment income	  	 	—  	 	  	 	—  	 	  	 	4	 	  	 	4	 	  	 	8	 	  	 	7	 	  	 	7	 	  	 	11	 	  	 	33	 	
Net investment gains (losses)	  	 	—  	 	  	 	—  	 	  	 	(5	) 	  	 	(5	) 	  	 	29	 	  	 	24	 	  	 	66	 	  	 	(53	) 	  	 	66	 	
Policy fees and other income	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	1	 	  	 	1	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	—  	 	  	 	—  	 	  	 	50	 	  	 	50	 	  	 	109	 	  	 	102	 	  	 	135	 	  	 	28	 	  	 	374	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  				  				  				  				  				  				  				  				  				
Benefits and other changes in policy reserves	  	 	—  	 	  	 	—  	 	  	 	11	 	  	 	11	 	  	 	88	 	  	 	26	 	  	 	39	 	  	 	24	 	  	 	177	 	
Acquisition and operating expenses, net of deferrals	  	 	—  	 	  	 	—  	 	  	 	7	 	  	 	7	 	  	 	14	 	  	 	14	 	  	 	13	 	  	 	12	 	  	 	53	 	
Amortization of deferred acquisition costs and intangibles	  	 	—  	 	  	 	—  	 	  	 	6	 	  	 	6	 	  	 	8	 	  	 	7	 	  	 	6	 	  	 	8	 	  	 	29	 	
Goodwill impairment	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	5	 	  	 	—  	 	  	 	5	 	
Interest expense	  	 	—  	 	  	 	—  	 	  	 	1	 	  	 	1	 	  	 	2	 	  	 	2	 	  	 	2	 	  	 	1	 	  	 	7	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	—  	 	  	 	—  	 	  	 	25	 	  	 	25	 	  	 	112	 	  	 	49	 	  	 	65	 	  	 	45	 	  	 	271	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES AND GAIN (LOSS) ON SALE	  	 	—  	 	  	 	—  	 	  	 	25	 	  	 	25	 	  	 	(3	) 	  	 	53	 	  	 	70	 	  	 	(17	) 	  	 	103	 	
Provision (benefit) for income taxes	  	 	—  	 	  	 	—  	 	  	 	8	 	  	 	8	 	  	 	2	 	  	 	20	 	  	 	23	 	  	 	(5	) 	  	 	40	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) BEFORE GAIN (LOSS) ON SALE	  	 	—  	 	  	 	—  	 	  	 	17	 	  	 	17	 	  	 	(5	) 	  	 	33	 	  	 	47	 	  	 	(12	) 	  	 	63	 	
Gain (loss) on sale, net of taxes	  	 	3	 	  	 	—  	 	  	 	(3	) 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAXES	  	 	3	 	  	 	—  	 	  	 	14	 	  	 	17	 	  	 	(5	) 	  	 	33	 	  	 	47	 	  	 	(12	) 	  	 	63	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Less: net income (loss) from discontinued operations attributable to noncontrolling interests	  	 	—  	 	  	 	—  	 	  	 	8	 	  	 	8	 	  	 	(1	) 	  	 	18	 	  	 	23	 	  	 	(6	) 	  	 	34	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM DISCONTINUED OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	$	      3	 	  	$	    —  	 	  	$	      6	 	  	$	      9	 	  	$	    (4)	 	  	$	      15	 	  	$	      24	 	  	$	    (6)	 	  	$	      29	 	

30

 
Additional Financial Data

 
31

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Investments Summary
(amounts in millions)

 	  	September 30, 2021	 	  	June 30, 2021	 	 	March 31, 2021	 	 	December 31, 2020	 	 	September 30, 2020	 		
 	  	Carrying
Amount	 	  	% of
Total	 	  	Carrying
Amount	 	  	% of
Total	 	 	Carrying
Amount	 	  	% of
Total	 	 	Carrying
Amount	 	  	% of
Total	 	 	Carrying
Amount	 	  	% of
Total	 		
	Composition of Investment Portfolio	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	
Fixed maturity securities:	  				  			 	  				  				 				  				 				  				 				  					
Investment grade:	  				  			 	  				  				 				  				 				  				 				  					
Public fixed maturity securities	  	$	34,382	 	  	 	46	% 	  	$	34,610	 	  	 	47	% 	 	$	33,376	 	  	 	47	% 	 	$	35,678	 	  	 	46	% 	 	$	34,742	 	  	 	45	% 		
Private fixed maturity securities	  	 	13,742	 	  	 	18	 	  	 	13,722	 	  	 	18	 	 	 	13,402	 	  	 	18	 	 	 	13,734	 	  	 	18	 	 	 	13,522	 	  	 	17	 		
Residential mortgage-backed securities(1)	  	 	1,572	 	  	 	2	 	  	 	1,683	 	  	 	2	 	 	 	1,766	 	  	 	2	 	 	 	1,900	 	  	 	2	 	 	 	2,042	 	  	 	3	 		
Commercial mortgage-backed securities	  	 	2,656	 	  	 	4	 	  	 	2,714	 	  	 	4	 	 	 	2,770	 	  	 	4	 	 	 	2,955	 	  	 	4	 	 	 	2,957	 	  	 	4	 		
Other asset-backed securities	  	 	2,374	 	  	 	3	 	  	 	2,500	 	  	 	3	 	 	 	2,806	 	  	 	4	 	 	 	3,076	 	  	 	4	 	 	 	3,028	 	  	 	4	 		
State and political subdivisions	  	 	3,418	 	  	 	5	 	  	 	3,371	 	  	 	4	 	 	 	3,135	 	  	 	4	 	 	 	3,165	 	  	 	4	 	 	 	3,110	 	  	 	4	 		
Non-investment grade fixed maturity securities	  	 	3,130	 	  	 	4	 	  	 	3,049	 	  	 	4	 	 	 	2,976	 	  	 	4	 	 	 	2,987	 	  	 	4	 	 	 	2,971	 	  	 	4	 		
Equity securities:	  				  			 	  				  				 				  				 				  				 				  					
Common stocks and mutual funds	  	 	72	 	  	 	—  	 	  	 	63	 	  	 	—  	 	 	 	155	 	  	 	—  	 	 	 	296	 	  	 	—  	 	 	 	475	 	  	 	1	 		
Preferred stocks	  	 	84	 	  	 	—  	 	  	 	84	 	  	 	—  	 	 	 	83	 	  	 	—  	 	 	 	90	 	  	 	—  	 	 	 	100	 	  	 	—  	 		
Commercial mortgage loans, net	  	 	6,886	 	  	 	9	 	  	 	6,879	 	  	 	9	 	 	 	6,755	 	  	 	9	 	 	 	6,743	 	  	 	9	 	 	 	6,880	 	  	 	9	 		
Policy loans	  	 	2,067	 	  	 	3	 	  	 	2,083	 	  	 	3	 	 	 	1,976	 	  	 	3	 	 	 	1,978	 	  	 	3	 	 	 	2,153	 	  	 	3	 		
Cash, cash equivalents, restricted cash and short-term investments	  	 	2,006	 	  	 	3	 	  	 	2,335	 	  	 	3	 	 	 	1,981	 	  	 	3	 	 	 	2,606	 	  	 	3	 	 	 	2,788	 	  	 	3	 		
Securities lending	  	 	—  	 	  	 	—  	 	  	 	105	 	  	 	—  	 	 	 	68	 	  	 	—  	 	 	 	67	 	  	 	—  	 	 	 	75	 	  	 	—  	 		
Other invested assets:	  	Limited partnerships	  	 	1,617	 	  	 	2	 	  	 	1,354	 	  	 	2	 	 	 	1,160	 	  	 	2	 	 	 	1,049	 	  	 	1	 	 	 	844	 	  	 	1	 		
	  	Derivatives:	  				  			 	  				  				 				  				 				  				 				  					
	  	Interest rate swaps	  	 	298	 	  	 	—  	 	  	 	280	 	  	 	—  	 	 	 	84	 	  	 	—  	 	 	 	468	 	  	 	1	 	 	 	708	 	  	 	1	 		
	  	Foreign currency swaps	  	 	5	 	  	 	—  	 	  	 	2	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	1	 	  	 	—  	 	 	 	10	 	  	 	—  	 		
	  	Equity index options	  	 	33	 	  	 	—  	 	  	 	47	 	  	 	—  	 	 	 	53	 	  	 	—  	 	 	 	63	 	  	 	—  	 	 	 	67	 	  	 	—  	 		
	  	Other foreign currency contracts	  	 	2	 	  	 	—  	 	  	 	24	 	  	 	—  	 	 	 	27	 	  	 	—  	 	 	 	42	 	  	 	—  	 	 	 	17	 	  	 	—  	 		
	  	Other	  	 	311	 	  	 	1	 	  	 	327	 	  	 	1	 	 	 	350	 	  	 	—  	 	 	 	364	 	  	 	1	 	 	 	402	 	  	 	1	 		
	  		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
Total invested assets and cash	  	$	74,655	 	  	 	100	% 	  	$	75,232	 	  	 	100	% 	 	$	72,923	 	  	 	100	% 	 	$	77,262	 	  	 	100	% 	 	$	76,891	 	  	 	100	% 		
	  		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
	Public Fixed Maturity Securities—Credit Quality:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	
	NRSRO(2) Designation	  	 	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	
                           AAA	  	$	8,393	 	  	 	19	% 	  	$	8,505	 	  	 	20	% 	 	$	8,308	 	  	 	20	% 	 	$	9,252	 	  	 	21	% 	 	$	9,409	 	  	 	21	% 		
                             AA	  	 	3,907	 	  	 	9	 	  	 	3,872	 	  	 	9	 	 	 	3,500	 	  	 	8	 	 	 	3,699	 	  	 	8	 	 	 	3,661	 	  	 	8	 		
                               A	  	 	11,134	 	  	 	26	 	  	 	11,158	 	  	 	26	 	 	 	10,986	 	  	 	26	 	 	 	11,784	 	  	 	26	 	 	 	11,852	 	  	 	27	 		
                           BBB	  	 	17,980	 	  	 	42	 	  	 	18,208	 	  	 	41	 	 	 	17,581	 	  	 	42	 	 	 	18,327	 	  	 	41	 	 	 	17,275	 	  	 	40	 		
                             BB	  	 	1,658	 	  	 	4	 	  	 	1,637	 	  	 	4	 	 	 	1,579	 	  	 	4	 	 	 	1,634	 	  	 	4	 	 	 	1,607	 	  	 	4	 		
                               B	  	 	53	 	  	 	—  	 	  	 	45	 	  	 	—  	 	 	 	69	 	  	 	—  	 	 	 	74	 	  	 	—  	 	 	 	71	 	  	 	—  	 		
                     CCC and lower	  	 	—  	 	  	 	—  	 	  	 	6	 	  	 	—  	 	 	 	6	 	  	 	—  	 	 	 	6	 	  	 	—  	 	 	 	42	 	  	 	—  	 		
	  		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
Total public fixed maturity securities	  	$	43,125	 	  	 	100	% 	  	$	43,431	 	  	 	100	% 	 	$	42,029	 	  	 	100	% 	 	$	44,776	 	  	 	100	% 	 	$	43,917	 	  	 	100	% 		
	  		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
	Private Fixed Maturity Securities—Credit Quality:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	
	NRSRO(2) Designation	  	 	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 	
                           AAA	  	$	856	 	  	 	5	% 	  	$	862	 	  	 	5	% 	 	$	973	 	  	 	5	% 	 	$	1,103	 	  	 	6	% 	 	$	1,099	 	  	 	6	% 		
                             AA	  	 	1,831	 	  	 	10	 	  	 	1,850	 	  	 	10	 	 	 	1,882	 	  	 	10	 	 	 	2,020	 	  	 	11	 	 	 	2,010	 	  	 	11	 		
                               A	  	 	5,240	 	  	 	29	 	  	 	5,183	 	  	 	28	 	 	 	5,188	 	  	 	29	 	 	 	5,482	 	  	 	29	 	 	 	5,377	 	  	 	29	 		
                           BBB	  	 	8,803	 	  	 	48	 	  	 	8,962	 	  	 	49	 	 	 	8,837	 	  	 	49	 	 	 	8,841	 	  	 	47	 	 	 	8,718	 	  	 	47	 		
                             BB	  	 	1,252	 	  	 	7	 	  	 	1,190	 	  	 	7	 	 	 	1,117	 	  	 	6	 	 	 	1,042	 	  	 	6	 	 	 	1,054	 	  	 	6	 		
                               B	  	 	158	 	  	 	1	 	  	 	162	 	  	 	1	 	 	 	197	 	  	 	1	 	 	 	219	 	  	 	1	 	 	 	183	 	  	 	1	 		
                     CCC and lower	  	 	9	 	  	 	—  	 	  	 	9	 	  	 	—  	 	 	 	8	 	  	 	—  	 	 	 	12	 	  	 	—  	 	 	 	14	 	  	 	—  	 		
	  		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
Total private fixed maturity securities	  	$	18,149	 	  	 	100	% 	  	$	18,218	 	  	 	100	% 	 	$	18,202	 	  	 	100	% 	 	$	18,719	 	  	 	100	% 	 	$	18,455	 	  	 	100	% 		

 

(1) 	The company does not have any material exposure to residential mortgage-backed securities collateralized debt obligations (CDOs).	
(2) 	Nationally Recognized Statistical Rating Organizations.	
 
32

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
 
Fixed Maturity Securities Summary
(amounts in millions)

 	  	September 30, 2021	 	  	June 30, 2021	 	 	March 31, 2021	 	 	December 31, 2020	 	 	September 30, 2020	 	
 	  	Fair Value	 	  	% of
Total	 	  	Fair Value	 	  	% of
Total	 	 	Fair Value	 	  	% of
Total	 	 	Fair Value	 	  	% of
Total	 	 	Fair Value	 	  	% of
Total	 	
Fixed Maturity Securities—Security Sector:	  				  			 	  				  				 				  				 				  				 				  				
	 	 									
U.S. government, agencies and government-sponsored enterprises	  	$	4,500	 	  	 	7	% 	  	$	4,484	 	  	 	7	% 	 	$	4,273	 	  	 	7	% 	 	$	4,805	 	  	 	8	% 	 	$	4,792	 	  	 	8	% 	
State and political subdivisions	  	 	3,418	 	  	 	6	 	  	 	3,371	 	  	 	6	 	 	 	3,135	 	  	 	5	 	 	 	3,165	 	  	 	5	 	 	 	3,110	 	  	 	5	 	
Foreign government	  	 	835	 	  	 	1	 	  	 	802	 	  	 	1	 	 	 	820	 	  	 	1	 	 	 	854	 	  	 	1	 	 	 	747	 	  	 	1	 	
U.S. corporate	  	 	35,132	 	  	 	57	 	  	 	35,289	 	  	 	57	 	 	 	34,107	 	  	 	57	 	 	 	35,857	 	  	 	56	 	 	 	35,004	 	  	 	56	 	
Foreign corporate	  	 	10,740	 	  	 	18	 	  	 	10,744	 	  	 	18	 	 	 	10,485	 	  	 	17	 	 	 	10,811	 	  	 	17	 	 	 	10,595	 	  	 	17	 	
Residential mortgage-backed securities	  	 	1,572	 	  	 	3	 	  	 	1,691	 	  	 	3	 	 	 	1,774	 	  	 	3	 	 	 	1,909	 	  	 	3	 	 	 	2,075	 	  	 	3	 	
Commercial mortgage-backed securities	  	 	2,670	 	  	 	4	 	  	 	2,734	 	  	 	4	 	 	 	2,794	 	  	 	5	 	 	 	2,974	 	  	 	5	 	 	 	2,976	 	  	 	5	 	
Other asset-backed securities	  	 	2,407	 	  	 	4	 	  	 	2,534	 	  	 	4	 	 	 	2,843	 	  	 	5	 	 	 	3,120	 	  	 	5	 	 	 	3,073	 	  	 	5	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total fixed maturity securities	  	$	61,274	 	  	 	100	% 	  	$	61,649	 	  	 	100	% 	 	$	60,231	 	  	 	100	% 	 	$	63,495	 	  	 	100	% 	 	$	62,372	 	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Corporate Bond Holdings—Industry Sector:	  				  			 	  				  				 				  				 				  				 				  				
	 	 									
Investment Grade:	  				  			 	  				  				 				  				 				  				 				  				
Finance and insurance	  	$	11,231	 	  	 	25	% 	  	$	11,155	 	  	 	24	% 	 	$	10,807	 	  	 	25	% 	 	$	11,303	 	  	 	25	% 	 	$	10,723	 	  	 	24	% 	
Utilities	  	 	5,953	 	  	 	13	 	  	 	5,948	 	  	 	13	 	 	 	5,736	 	  	 	13	 	 	 	6,019	 	  	 	13	 	 	 	5,985	 	  	 	13	 	
Energy	  	 	3,645	 	  	 	8	 	  	 	3,592	 	  	 	8	 	 	 	3,417	 	  	 	8	 	 	 	3,496	 	  	 	7	 	 	 	3,337	 	  	 	7	 	
Consumer - non-cyclical	  	 	6,703	 	  	 	15	 	  	 	6,726	 	  	 	15	 	 	 	6,545	 	  	 	15	 	 	 	6,977	 	  	 	15	 	 	 	6,867	 	  	 	15	 	
Consumer - cyclical	  	 	1,891	 	  	 	4	 	  	 	1,979	 	  	 	4	 	 	 	1,922	 	  	 	4	 	 	 	1,944	 	  	 	4	 	 	 	2,043	 	  	 	4	 	
Capital goods	  	 	3,349	 	  	 	7	 	  	 	3,371	 	  	 	7	 	 	 	3,275	 	  	 	7	 	 	 	3,431	 	  	 	7	 	 	 	3,485	 	  	 	8	 	
Industrial	  	 	2,251	 	  	 	5	 	  	 	2,344	 	  	 	5	 	 	 	2,299	 	  	 	5	 	 	 	2,390	 	  	 	5	 	 	 	2,273	 	  	 	5	 	
Technology and communications	  	 	4,547	 	  	 	10	 	  	 	4,518	 	  	 	10	 	 	 	4,376	 	  	 	10	 	 	 	4,589	 	  	 	10	 	 	 	4,258	 	  	 	9	 	
Transportation	  	 	1,836	 	  	 	4	 	  	 	1,924	 	  	 	4	 	 	 	1,877	 	  	 	4	 	 	 	2,053	 	  	 	4	 	 	 	2,135	 	  	 	5	 	
Other	  	 	1,510	 	  	 	3	 	  	 	1,596	 	  	 	4	 	 	 	1,516	 	  	 	3	 	 	 	1,639	 	  	 	4	 	 	 	1,702	 	  	 	4	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	42,916	 	  	 	94	 	  	 	43,153	 	  	 	94	 	 	 	41,770	 	  	 	94	 	 	 	43,841	 	  	 	94	 	 	 	42,808	 	  	 	94	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Non-Investment Grade:	  				  			 	  				  				 				  				 				  				 				  				
Finance and insurance	  	 	226	 	  	 	—  	 	  	 	234	 	  	 	1	 	 	 	243	 	  	 	1	 	 	 	275	 	  	 	1	 	 	 	288	 	  	 	1	 	
Utilities	  	 	95	 	  	 	—  	 	  	 	88	 	  	 	—  	 	 	 	94	 	  	 	—  	 	 	 	97	 	  	 	—  	 	 	 	95	 	  	 	—  	 	
Energy	  	 	782	 	  	 	2	 	  	 	759	 	  	 	1	 	 	 	712	 	  	 	1	 	 	 	767	 	  	 	2	 	 	 	738	 	  	 	2	 	
Consumer - non-cyclical	  	 	270	 	  	 	1	 	  	 	243	 	  	 	1	 	 	 	243	 	  	 	1	 	 	 	233	 	  	 	—  	 	 	 	219	 	  	 	—  	 	
Consumer - cyclical	  	 	369	 	  	 	1	 	  	 	368	 	  	 	1	 	 	 	389	 	  	 	1	 	 	 	374	 	  	 	1	 	 	 	347	 	  	 	1	 	
Capital goods	  	 	163	 	  	 	—  	 	  	 	141	 	  	 	—  	 	 	 	152	 	  	 	—  	 	 	 	136	 	  	 	—  	 	 	 	152	 	  	 	—  	 	
Industrial	  	 	366	 	  	 	1	 	  	 	368	 	  	 	1	 	 	 	356	 	  	 	1	 	 	 	340	 	  	 	1	 	 	 	340	 	  	 	1	 	
Technology and communications	  	 	490	 	  	 	1	 	  	 	520	 	  	 	1	 	 	 	488	 	  	 	1	 	 	 	463	 	  	 	1	 	 	 	451	 	  	 	1	 	
Transportation	  	 	26	 	  	 	—  	 	  	 	26	 	  	 	—  	 	 	 	18	 	  	 	—  	 	 	 	17	 	  	 	—  	 	 	 	56	 	  	 	—  	 	
Other	  	 	169	 	  	 	—  	 	  	 	133	 	  	 	—  	 	 	 	127	 	  	 	—  	 	 	 	125	 	  	 	—  	 	 	 	105	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	2,956	 	  	 	6	 	  	 	2,880	 	  	 	6	 	 	 	2,822	 	  	 	6	 	 	 	2,827	 	  	 	6	 	 	 	2,791	 	  	 	6	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total	  	$	45,872	 	  	 	100	% 	  	$	46,033	 	  	 	100	% 	 	$	44,592	 	  	 	100	% 	 	$	46,668	 	  	 	100	% 	 	$	45,599	 	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Fixed Maturity Securities—Contractual Maturity Dates:	  				  			 	  				  				 				  				 				  				 				  				
	 	 									
Due in one year or less	  	$	1,449	 	  	 	2	% 	  	$	1,291	 	  	 	2	% 	 	$	1,291	 	  	 	2	% 	 	$	1,305	 	  	 	2	% 	 	$	1,375	 	  	 	2	% 	
Due after one year through five years	  	 	9,039	 	  	 	15	 	  	 	9,030	 	  	 	15	 	 	 	8,926	 	  	 	15	 	 	 	9,185	 	  	 	14	 	 	 	8,998	 	  	 	15	 	
Due after five years through ten years	  	 	14,956	 	  	 	24	 	  	 	15,158	 	  	 	25	 	 	 	14,904	 	  	 	24	 	 	 	14,759	 	  	 	23	 	 	 	14,548	 	  	 	23	 	
Due after ten years	  	 	29,181	 	  	 	48	 	  	 	29,211	 	  	 	47	 	 	 	27,699	 	  	 	46	 	 	 	30,243	 	  	 	48	 	 	 	29,327	 	  	 	47	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	54,625	 	  	 	89	 	  	 	54,690	 	  	 	89	 	 	 	52,820	 	  	 	87	 	 	 	55,492	 	  	 	87	 	 	 	54,248	 	  	 	87	 	
Mortgage and asset-backed securities	  	 	6,649	 	  	 	11	 	  	 	6,959	 	  	 	11	 	 	 	7,411	 	  	 	13	 	 	 	8,003	 	  	 	13	 	 	 	8,124	 	  	 	13	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total fixed maturity securities	  	$	61,274	 	  	 	100	% 	  	$	61,649	 	  	 	100	% 	 	$	60,231	 	  	 	100	% 	 	$	63,495	 	  	 	100	% 	 	$	62,372	 	  	 	100	% 	

 
33

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
General Account U.S. GAAP Net Investment Income Yields
(amounts in millions)

 	  	2021	 	 	2020	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
U.S. GAAP Net Investment Income	  			 	  				 				 				 				 				 				 				 				
Fixed maturity securities - taxable	  	$	614	 	  	$	608	 	 	$	599	 	 	$	1,821	 	 	$	618	 	 	$	625	 	 	$	594	 	 	$	611	 	 	$	2,448	 	
Fixed maturity securities - non-taxable	  	 	2	 	  	 	1	 	 	 	2	 	 	 	5	 	 	 	1	 	 	 	2	 	 	 	1	 	 	 	2	 	 	 	6	 	
Equity securities	  	 	2	 	  	 	2	 	 	 	3	 	 	 	7	 	 	 	5	 	 	 	3	 	 	 	2	 	 	 	2	 	 	 	12	 	
Commercial mortgage loans	  	 	93	 	  	 	103	 	 	 	78	 	 	 	274	 	 	 	94	 	 	 	82	 	 	 	84	 	 	 	85	 	 	 	345	 	
Other invested assets	  	 	63	 	  	 	58	 	 	 	58	 	 	 	179	 	 	 	65	 	 	 	57	 	 	 	52	 	 	 	49	 	 	 	223	 	
Limited partnerships	  	 	59	 	  	 	54	 	 	 	31	 	 	 	144	 	 	 	38	 	 	 	22	 	 	 	14	 	 	 	(2	) 	 	 	72	 	
Policy loans	  	 	47	 	  	 	40	 	 	 	50	 	 	 	137	 	 	 	50	 	 	 	51	 	 	 	49	 	 	 	49	 	 	 	199	 	
Cash, cash equivalents, restricted cash and short-term investments	  	 	1	 	  	 	—  	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	1	 	 	 	4	 	 	 	10	 	 	 	15	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees	  	 	881	 	  	 	866	 	 	 	821	 	 	 	2,568	 	 	 	871	 	 	 	843	 	 	 	800	 	 	 	806	 	 	 	3,320	 	
Expenses and fees	  	 	(22	) 	  	 	(22	) 	 	 	(20	) 	 	 	(64	) 	 	 	(25	) 	 	 	(23	) 	 	 	(21	) 	 	 	(24	) 	 	 	(93	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income	  	$	859	 	  	$	844	 	 	$	801	 	 	$	2,504	 	 	$	846	 	 	$	820	 	 	$	779	 	 	$	782	 	 	$	3,227	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Annualized Yields	  			 	  				 				 				 				 				 				 				 				
Fixed maturity securities - taxable	  	 	4.6	% 	  	 	4.6	% 	 	 	4.5	% 	 	 	4.6	% 	 	 	4.6	% 	 	 	4.7	% 	 	 	4.5	% 	 	 	4.7	% 	 	 	4.7	% 	
Fixed maturity securities - non-taxable	  	 	6.3	% 	  	 	3.1	% 	 	 	6.3	% 	 	 	5.2	% 	 	 	3.1	% 	 	 	6.2	% 	 	 	2.6	% 	 	 	5.2	% 	 	 	4.3	% 	
Equity securities	  	 	5.3	% 	  	 	4.1	% 	 	 	3.8	% 	 	 	4.0	% 	 	 	4.2	% 	 	 	3.3	% 	 	 	5.3	% 	 	 	4.8	% 	 	 	4.2	% 	
Commercial mortgage loans	  	 	5.4	% 	  	 	6.0	% 	 	 	4.6	% 	 	 	5.4	% 	 	 	5.5	% 	 	 	4.8	% 	 	 	4.9	% 	 	 	4.9	% 	 	 	5.0	% 	
Other invested assets(1)	  	 	79.5	% 	  	 	68.6	% 	 	 	65.0	% 	 	 	70.8	% 	 	 	67.9	% 	 	 	56.2	% 	 	 	50.0	% 	 	 	48.2	% 	 	 	56.0	% 	
Limited partnerships(2)	  	 	15.9	% 	  	 	17.2	% 	 	 	11.2	% 	 	 	14.8	% 	 	 	16.1	% 	 	 	10.9	% 	 	 	7.8	% 	 	 	(1.2	)% 	 	 	9.1	% 	
Policy loans	  	 	9.1	% 	  	 	7.9	% 	 	 	10.1	% 	 	 	9.0	% 	 	 	9.7	% 	 	 	9.4	% 	 	 	9.3	% 	 	 	9.5	% 	 	 	9.5	% 	
Cash, cash equivalents, restricted cash and short-term investments	  	 	0.2	% 	  	 	—  	% 	 	 	—  	% 	 	 	0.1	% 	 	 	—  	% 	 	 	0.1	% 	 	 	0.6	% 	 	 	1.4	% 	 	 	0.5	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees	  	 	5.3	% 	  	 	5.2	% 	 	 	5.0	% 	 	 	5.2	% 	 	 	5.2	% 	 	 	5.1	% 	 	 	4.9	% 	 	 	4.9	% 	 	 	5.0	% 	
Expenses and fees	  	 	(0.1	)% 	  	 	(0.1	)% 	 	 	(0.2	)% 	 	 	(0.2	)% 	 	 	(0.1	)% 	 	 	(0.2	)% 	 	 	(0.1	)% 	 	 	(0.1	)% 	 	 	(0.1	)% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income	  	 	5.2	% 	  	 	5.1	% 	 	 	4.8	% 	 	 	5.0	% 	 	 	5.1	% 	 	 	4.9	% 	 	 	4.8	% 	 	 	4.8	% 	 	 	4.9	% 	

Yields are based on net investment income as reported under U.S. GAAP and are consistent with how the company measures its investment performance for management purposes. Yields are annualized, for interim periods, and are calculated as net investment income as a percentage of average quarterly asset carrying values except for fixed maturity securities, derivatives and derivative counterparty collateral, which exclude unrealized fair value adjustments and securities lending activity, which is included in other invested assets and is calculated net of the corresponding securities lending liability. See page 38 herein for average invested assets and cash used in the yield calculation.

(1) 	Investment income for other invested assets includes amortization of terminated cash flow hedges, which have no corresponding book value within the yield calculation.	
(2) 	Limited partnership investments are primarily equity-based and do not have fixed returns by period.	
 
34

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Net Investment Gains (Losses), Net—Detail
(amounts in millions)

 	  	2021	 	 	2020	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net realized gains (losses) on available-for-sale securities:	  			 	  				 				 				 				 				 				 				 				
Fixed maturity securities:	  			 	  				 				 				 				 				 				 				 				
U.S. corporate	  	$	8	 	  	$	2	 	 	$	4	 	 	$	14	 	 	$	7	 	 	$	2	 	 	$	2	 	 	$	2	 	 	$	13	 	
U.S. government, agencies and government-sponsored enterprises	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	316	 	 	 	94	 	 	 	—  	 	 	 	410	 	
Foreign corporate	  	 	1	 	  	 	(2	) 	 	 	1	 	 	 	—  	 	 	 	5	 	 	 	1	 	 	 	(1	) 	 	 	—  	 	 	 	5	 	
Foreign government	  	 	(1	) 	  	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	1	 	
Tax exempt	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	
Mortgage-backed securities	  	 	3	 	  	 	—  	 	 	 	(1	) 	 	 	2	 	 	 	11	 	 	 	—  	 	 	 	4	 	 	 	—  	 	 	 	15	 	
Asset-backed securities	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	 	 	—  	 	 	 	(2	) 	 	 	—  	 	 	 	(3	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total net realized gains (losses) on available-for-sale securities	  	 	11	 	  	 	1	 	 	 	4	 	 	 	16	 	 	 	23	 	 	 	319	 	 	 	98	 	 	 	2	 	 	 	442	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net change in allowance for credit losses on available-for-sale fixed maturity securities	  	 	—  	 	  	 	(4	) 	 	 	(2	) 	 	 	(6	) 	 	 	—  	 	 	 	2	 	 	 	(7	) 	 	 	—  	 	 	 	(5	) 	
Write-down of available-for-sale fixed maturity securities	  	 	—  	 	  	 	—  	 	 	 	(1	) 	 	 	(1	) 	 	 	—  	 	 	 	(4	) 	 	 	—  	 	 	 	—  	 	 	 	(4	) 	
Net realized gains (losses) on equity securities sold	  	 	—  	 	  	 	(2	) 	 	 	(5	) 	 	 	(7	) 	 	 	2	 	 	 	(3	) 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	
Net unrealized gains (losses) on equity securities still held	  	 	(1	) 	  	 	6	 	 	 	(8	) 	 	 	(3	) 	 	 	8	 	 	 	3	 	 	 	5	 	 	 	(12	) 	 	 	4	 	
Limited partnerships	  	 	75	 	  	 	65	 	 	 	37	 	 	 	177	 	 	 	84	 	 	 	31	 	 	 	37	 	 	 	(40	) 	 	 	112	 	
Commercial mortgage loans	  	 	3	 	  	 	(1	) 	 	 	(1	) 	 	 	1	 	 	 	—  	 	 	 	(3	) 	 	 	1	 	 	 	—  	 	 	 	(2	) 	
Derivative instruments	  	 	(3	) 	  	 	4	 	 	 	8	 	 	 	9	 	 	 	26	 	 	 	9	 	 	 	(36	) 	 	 	(48	) 	 	 	(49	) 	
Other	  	 	3	 	  	 	1	 	 	 	1	 	 	 	5	 	 	 	4	 	 	 	(3	) 	 	 	(5	) 	 	 	(1	) 	 	 	(5	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), gross	  	 	88	 	  	 	70	 	 	 	33	 	 	 	191	 	 	 	147	 	 	 	351	 	 	 	93	 	 	 	(99	) 	 	 	492	 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(3	) 	 	 	(1	) 	 	 	4	 	 	 	11	 	 	 	11	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), net	  	$	88	 	  	$	70	 	 	$	33	 	 	$	191	 	 	$	144	 	 	$	350	 	 	$	97	 	 	$	(88	) 	 	$	503	 	

 
35

 
Reconciliations of Non-GAAP Measures

 
36

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Reconciliation of Operating ROE
(amounts in millions)

	Twelve Month Rolling Average ROE	  	Twelve months ended	 	
U.S. GAAP Basis ROE	  	September 30,
2021	 	 	June 30,
2021	 	 	March 31,
2021	 	 	December 31,
2020	 	 	September 30,
2020	 		
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the twelve months ended(1)	  	$	1,008	 	 	$	1,112	 	 	$	431	 	 	$	178	 	 	$	(106	) 		
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income(2)	  	$	11,079	 	 	$	10,823	 	 	$	10,684	 	 	$	10,618	 	 	$	10,592	 		
U.S. GAAP Basis ROE (1)/(2)	  	 	9.1	% 	 	 	10.3	% 	 	 	4.0	% 	 	 	1.7	% 	 	 	(1.0	)% 		
							
Operating ROE	  				 				 				 				 					
Adjusted operating income for the twelve months ended(1)	  	$	789	 	 	$	675	 	 	$	458	 	 	$	310	 	 	$	125	 		
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income(2)	  	$	11,079	 	 	$	10,823	 	 	$	10,684	 	 	$	10,618	 	 	$	10,592	 		
Operating ROE (1)/(2)	  	 	7.1	% 	 	 	6.2	% 	 	 	4.3	% 	 	 	2.9	% 	 	 	1.2	% 		
			
	Quarterly Average ROE	  	Three months ended	 	
U.S. GAAP Basis ROE	  	September 30,
2021	 	 	June 30,
2021	 	 	March 31,
2021	 	 	December 31,
2020	 	 	September 30,
2020	 		
Net income available to Genworth Financial, Inc.’s common stockholders for the period ended(3)	  	$	314	 	 	$	240	 	 	$	187	 	 	$	267	 	 	$	418	 		
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income(4)	  	$	11,403	 	 	$	11,207	 	 	$	10,988	 	 	$	10,754	 	 	$	10,406	 		
Annualized U.S. GAAP Quarterly Basis ROE (3)/(4)	  	 	11.0	% 	 	 	8.6	% 	 	 	6.8	% 	 	 	9.9	% 	 	 	16.1	% 		
							
Operating ROE	  				 				 				 				 					
Adjusted operating income for the period ended(3)	  	$	239	 	 	$	194	 	 	$	168	 	 	$	188	 	 	$	125	 		
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income(4)	  	$	11,403	 	 	$	11,207	 	 	$	10,988	 	 	$	10,754	 	 	$	10,406	 		
Annualized Operating Quarterly Basis ROE (3)/(4)	  	 	8.4	% 	 	 	6.9	% 	 	 	6.1	% 	 	 	7.0	% 	 	 	4.8	% 		
Non-GAAP Definition for Operating ROE
The company references the non-GAAP financial measure entitled “operating return on equity” or “operating ROE.” The company defines operating ROE as adjusted operating income (loss) divided by average ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss) in average ending Genworth Financial, Inc.’s stockholders’ equity. Management believes that analysis of operating ROE enhances understanding of the efficiency with which the company deploys its capital. However, operating ROE is not a substitute for net income (loss) available to Genworth Financial, Inc.’s common stockholders divided by average ending Genworth Financial, Inc.’s stockholders’ equity determined in accordance with U.S. GAAP.

(1) 	The twelve months ended information is derived by adding the four quarters of net income (loss) available to Genworth Financial, Inc.’s common stockholders and adjusted operating income from page 9 herein.	
(2) 	Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income, is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income, for the most recent five quarters.	
(3) 	Net income available to Genworth Financial, Inc.’s common stockholders and adjusted operating income from page 9 herein.	
(4) 	Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income, is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income.	
 
37

GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
 
Reconciliation of Reported Yield to Core Yield

 	  	 	  	2021	 	 	2020	 	
	  	(Assets - amounts in billions)	  	 	3Q	 	  	 	2Q	 	 	 	1Q	 	 	 	Total	 	 	 	4Q	 	 	 	3Q	 	 	 	2Q	 	 	 	1Q	 	 	 	Total	 	
	  	Reported - Total Invested Assets and Cash	  	$	74.7	 	  	$	75.2	 	 	$	72.9	 	 	$	74.7	 	 	$	77.3	 	 	$	76.9	 	 	$	75.7	 	 	$	71.3	 	 	$	77.3	 	
	  	Subtract:	  			 	  				 				 				 				 				 				 				 				
	  	Securities lending	  	 	—	 	  	 	0.1	 	 	 	0.1	 	 	 	—	 	 	 	0.1	 	 	 	0.1	 	 	 	0.1	 	 	 	0.1	 	 	 	0.1	 	
	  	Unrealized gains (losses)	  	 	8.5	 	  	 	8.9	 	 	 	6.9	 	 	 	8.5	 	 	 	10.7	 	 	 	9.9	 	 	 	9.7	 	 	 	6.0	 	 	 	10.7	 	
	  		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
	  	Adjusted end of period invested assets and cash	  	$	66.2	 	  	$	66.2	 	 	$	65.9	 	 	$	66.2	 	 	$	66.5	 	 	$	66.9	 	 	$	65.9	 	 	$	65.2	 	 	$	66.5	 	
	  		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(A)	  	Average Invested Assets and Cash Used in Reported and Core Yield Calculation	  	$	66.2	 	  	$	66.1	 	 	$	66.2	 	 	$	66.2	 	 	$	66.7	 	 	$	66.4	 	 	$	65.6	 	 	$	65.3	 	 	$	66.0	 	
		 									
	  	(Income - amounts in millions)	  			 	  				 				 				 				 				 				 				 				
		 									
(B)	  	Reported - Net Investment Income	  	$	859	 	  	$	844	 	 	$	801	 	 	$	2,504	 	 	$	846	 	 	$	820	 	 	$	779	 	 	$	782	 	 	$	3,227	 	
	  	Subtract:	  			 	  				 				 				 				 				 				 				 				
	  	Bond calls and commercial mortgage loan prepayments	  	 	43	 	  	 	39	 	 	 	15	 	 	 	97	 	 	 	40	 	 	 	23	 	 	 	8	 	 	 	16	 	 	 	87	 	
	  	Other non-core items(1)	  	 	(4	) 	  	 	3	 	 	 	2	 	 	 	1	 	 	 	6	 	 	 	6	 	 	 	2	 	 	 	7	 	 	 	21	 	
	  		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(C)	  	Core Net Investment Income	  	$	820	 	  	$	802	 	 	$	784	 	 	$	2,406	 	 	$	800	 	 	$	791	 	 	$	769	 	 	$	759	 	 	$	3,119	 	

(B) / (A)	  	Reported Yield	  	 	5.19	% 	  	 	5.11	% 	 	 	4.84	% 	 	 	5.04	% 	 	 	5.07	% 	 	 	4.94	% 	 	 	4.75	% 	 	 	4.79	% 	 	 	4.89	% 	
(C) / (A)	  	Core Yield	  	 	4.95	% 	  	 	4.85	% 	 	 	4.73	% 	 	 	4.84	% 	 	 	4.80	% 	 	 	4.76	% 	 	 	4.69	% 	 	 	4.65	% 	 	 	4.73	% 	
Note:    Yields have been annualized.
Non-GAAP Definition for Core Yield
The company references the non-GAAP financial measure entitled “core yield” as a measure of investment yield. The company defines core yield as the investment yield adjusted for items that do not reflect the underlying performance of the investment portfolio. Management believes that analysis of core yield enhances understanding of the investment yield of the company. However, core yield is not a substitute for investment yield determined in accordance with U.S. GAAP.    

(1) 	Includes cost basis adjustments on structured securities and various other immaterial items.	
 
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Corporate Information

			

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2021
Financial Strength Ratings As Of November 1, 2021

	Company	  	Standard & Poor’s Financial
Services LLC (S&P)	  	Moody’s Investors Service,
Inc. (Moody’s)	  	A.M. Best Company, Inc.
(A.M. Best)	
Genworth Mortgage Insurance Corporation	  	BBB (Good)	  	Baa2 (Adequate)	  	N/A		
Genworth Life Insurance Company	  	N/A	  	N/A	  	C++ (Marginal)		
Genworth Life and Annuity Insurance Company	  	N/A	  	N/A	  	B (Fair)		
Genworth Life Insurance Company of New York	  	N/A	  	N/A	  	C++ (Marginal)		
The ratings included herewith represent those solicited by the company and are not designed to be, and do not serve as, measures of protection or valuation offered to investors. These financial strength ratings should not be relied on with respect to making an investment in the company’s securities.
S&P states that an insurer rated “BBB” (Good) has good financial security characteristics. The “BBB” range is the fourth-highest of nine financial strength rating ranges assigned by S&P, which range from “AAA” to “R.” A plus (+) or minus (-) shows relative standing within a rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “CCC” category. Accordingly, the “BBB” rating is the ninth-highest of S&P’s 21 ratings categories.
Moody’s states that insurance companies rated “Baa” (Adequate) offer adequate financial security. The “Baa” (Adequate) range is the fourth-highest of nine financial strength rating ranges assigned by Moody’s, which range from “Aaa” to “C.” Numeric modifiers are used to refer to the ranking within the groups, with 1 being the highest and 3 being the lowest. These modifiers are not added to ratings in the “Aaa” category or to ratings below the “Caa” category. Accordingly, the “Baa2” rating is the ninth-highest of Moody’s 21 ratings categories.
A.M. Best states that its “B” (Fair) rating is assigned to companies that have, in its opinion, a fair ability to meet their ongoing insurance obligations while “C++” (Marginal) is assigned to those companies that have, in its opinion, a marginal ability to meet their ongoing insurance obligations. The “B” (Fair) and “C++” (Marginal) ratings are the seventh- and ninth-highest of 15 ratings assigned by A.M. Best, which range from “A++” to “F.”
The company also solicits a rating from HR Ratings on a local scale for Genworth Seguros de Credito a la Vivienda S.A. de C.V., its Mexican mortgage insurance subsidiary, with a short-term rating of “HR1” and long-term rating of “HR AA.” For short-term ratings, HR Ratings states that “HR1” rated companies are viewed as exhibiting high capacity for timely payment of debt obligations in the short-term and maintain low credit risk. The “HR1” short-term rating category is the highest of six short-term rating categories, which range from “HR1” to “HR D.” For long-term ratings, HR Ratings states that “HR AA” rated companies are viewed as having high credit quality and offer high safety for timely payment of debt obligations and maintain low credit risk under adverse economic scenarios. The “HR AA” long-term rating is the second-highest of HR Ratings’ eight long-term rating categories, which range from “HR AAA” to “HR D.”
S&P, Moody’s, A.M. Best and HR Ratings review their ratings periodically and the company cannot assure you that it will maintain the current ratings in the future. These and other agencies may also rate the company or its insurance subsidiaries on a solicited or an unsolicited basis. The company does not provide information to agencies issuing unsolicited ratings and cannot ensure that any agencies that rate the company or its insurance subsidiaries on an unsolicited basis will continue to do so.
 
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