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
October 29, 2019
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 October 29, 2019, Genworth Financial, Inc. (the “Company”) issued (1) a press release announcing its financial results for the quarter ended September 30, 2019, 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, 2019, 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 October 29, 2019.	
 	 	 	 	 	
 	99.2	 	 	Financial Supplement for the quarter ended September 30, 2019.	
 	 	 	 	 	
 	104	 	 	Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document).	

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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: October 29, 2019	 		 	By:	 	/s/ Matthew D. Farney	
	 		 		 	Matthew D. Farney	
	 		 		 	Vice President and Controller	
	 		 		 	(Principal Accounting Officer)	

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Exhibit 99.1

Genworth Financial Announces Third Quarter 2019 Results
Net Income Of $18 Million And Adjusted Operating Income Of $123 Million
 
•	 	Reached Agreement To Sell Genworth’s Majority Interest In Genworth MI Canada Inc. To Brookfield Business Partners L.P. With Approximately $1.8 Billion Expected Net Proceeds	
 
•	 	Merger Agreement With China Oceanwide Holdings Group Co., Ltd (Oceanwide) Extended To Not Later Than December 31, 2019	
 
•	 	U.S. Mortgage Insurance (MI) Adjusted Operating Income Of $137 Million With $18.9 Billion In New Insurance Written (NIW) And Continued Strong Loss Performance	
 
•	 	U.S. MI’s PMIERs1 Sufficiency Ratio At 129 Percent, In Excess Of $850 Million Above Requirements	
 
•	 	$62 Million Capital Returned To The Holding Company In The Quarter From Canada And Australia MI	
 
•	 	Continued Progress With Long Term Care Insurance (LTC) In Force Rate Actions In Line With Plan	
 
•	 	Annual Review Of LTC Claim Reserves Completed With No Significant Adjustments. Loss Recognition Testing And Cash Flow Testing Will Be Completed In The Fourth Quarter	
 
•	 	$250 Million Dividend From U.S. MI To The Holding Company Completed In October 2019	
Richmond, VA (October 29, 2019) – Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended September 30, 2019. The company reported net income2 of $18 million, or $0.04 per diluted share, in the third quarter of 2019, compared with net income of $146 million, or $0.29 per diluted share, in the third quarter of 2018. The company reported adjusted operating income3 of $123 million, or $0.24 per diluted share, in the third quarter of 2019, compared with adjusted operating income of $99 million, or $0.20 per diluted share, in the third quarter of 2018.
With the pending sale of Genworth MI Canada Inc. (Genworth Canada), Canada MI segment results are reported as discontinued operations, and all prior periods have been re-presented accordingly. While the

1 	Private Mortgage Insurer Eligibility Requirements	
2 	Unless otherwise stated, all references in this press release to net income (loss), net income per share, net income (loss) from discontinued operations, adjusted operating income (loss), adjusted operating income 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, net income (loss) from discontinued operations available to Genworth’s common stockholders, 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.	
 
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expected net proceeds amount exceeds the balance sheet carrying value of Genworth Canada, the company recorded an estimated after-tax loss of $164 million on the sale due to historical foreign currency translation adjustments in accumulated other comprehensive income that must be recognized upon sale. Including the estimated loss on sale, the company recognized a net loss from discontinued operations of $110 million4 in the quarter.
Strategic Update
During and following the third quarter, Genworth and Oceanwide made progress towards closing their previously announced transaction.
On August 13, 2019, Genworth and Brookfield Business Partners L.P. (NYSE: BBU) (TSX: BBU.UN) (Brookfield Business Partners) announced an agreement for Brookfield Business Partners to purchase Genworth’s majority interest in Genworth Canada for CAD$48.86 per share, reflecting a total transaction value of approximately CAD$2.4 billion (the Canada Transaction). Genworth is selling its stake in Genworth Canada to facilitate the completion of the acquisition of Genworth by Oceanwide (the Oceanwide Transaction). Genworth also believes that the sale of its stake in Genworth Canada would allow it to increase its financial flexibility, whether or not the Oceanwide Transaction is consummated. Oceanwide consented to the Canada Transaction, and in connection with the announcement, Genworth and Oceanwide entered into the 12th Waiver and Agreement extending the merger agreement deadline to not later than December 31, 2019.
On October 22, 2019, Genworth announced it received feedback from Canadian regulators with respect to the Canada Transaction. The Canadian regulators remain focused on national security matters, including data protection and, in particular, the continued protection of Canadian customer data during the period after the closing of the Canada Transaction when Genworth will be providing certain transition services to Genworth Canada before it transitions away from Genworth’s information technology platforms. Genworth and Brookfield Business Partners are working to assure the regulators that Canadian customers’ information has appropriate protections.
Genworth and Brookfield Business Partners have received all other required approvals to complete the sale of Genworth Canada and are targeting a closing of the Canada Transaction by the end of 2019.
The Canada Transaction value of CAD$2.4 billion is expected to result in approximately USD$1.8 billion of net proceeds. Proceeds received at closing will be reduced by special dividends received from Genworth Canada

4 	A breakdown of the net loss from discontinued operations is provided in a table at the end of this press release.	
 
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during the period between signing and closing. Of the net proceeds, approximately USD$500 million will be paid to Genworth’s primary U.S. MI insurance subsidiary based on its ownership share of Genworth Canada. In addition, approximately USD$445 million of proceeds will be used to repay Genworth’s term loan issued March 7, 2018 as required under the terms of the loan agreement.
Previously, Oceanwide and Genworth had received approvals from all necessary U.S. regulators with respect to the Oceanwide Transaction. The parties recently provided supplemental information to certain regulators to reflect the Genworth Canada disposition and the passage of time since their prior approval of the Oceanwide Transaction. The approval of the New York Department of Financial Services (NYDFS) expired earlier in the year and the parties are in discussion with the NYDFS to secure an appropriate reapproval. In addition, Fannie Mae and Freddie Mac will need to reapprove the Oceanwide Transaction. Other regulators are still reviewing the supplemental information to determine whether it has any impact on their existing approvals. Following the receipt of all required U.S. regulatory approvals, Oceanwide will also need to receive clearance in China for the currency conversion and transfer of funds.
Genworth and Oceanwide remain committed to the capital investment plan under which Oceanwide and/or its affiliates will contribute an aggregate of $1.5 billion to Genworth over time following the consummation of the merger, subject to the receipt of the required regulatory approvals and clearances.
“Genworth has significant expertise in implementing security protocols that satisfy data security concerns as a result of the successful implementation of our Enhanced Data Security Program,” said Tom McInerney, president and CEO of Genworth Financial. “We are confident in our ability to satisfy the Canadian government’s requirements in order to move forward with the sale of Genworth Canada, which is the best path forward to ultimately close the transaction with Oceanwide. The Oceanwide Transaction continues to represent the best value for Genworth’s shareholders.”
LU Zhiqiang, chairman of Oceanwide, added: “Oceanwide remains committed to the transaction with Genworth, as well as the $1.5 billion contribution to Genworth over time following the consummation of the transaction, subject to the receipt of the required regulatory approvals and clearances. We look forward to closing the transaction as soon as possible.”
 
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Financial Performance
Consolidated Net Income & Adjusted Operating Income

 	  	Three months ended September 30	 	  	 	 		
 	  	2019	 	  	2018	 	  	 	 		
	(Amounts in millions, except per share) 	  		Total	 	  		Per
diluted
share	 	  		Total	 	  		Per
diluted
share	 	  		Total
% change	 	
Net income available to Genworth’s common stockholders	  	$	18		  	$	 0.04		  	$	146		  	$	 0.29		  	 	(88	)% 		
Adjusted operating income	  	$	123		  	$	 0.24		  	$	99		  	$	 0.20		  	 	24	% 		
Weighted-average diluted shares	  	 	511.2		  				  	 	503.3		  				  					

		
 	  	As of September 30	 	
 	  	2019	 	  	2018	 	
Book value per share	  	$	 28.57		  	$	 25.56		
Book value per share, excluding accumulated other comprehensive income (loss)	  	$	 21.38		  	$	 21.43		
Net investment gains, net of taxes and other adjustments, increased net income by $5 million in the quarter, with net trading gains and gains on limited partnerships offset by derivative losses. Net income in the third quarter of 2018 was reduced by net investment losses, net of taxes and other adjustments, of $11 million.
Net investment income was $816 million in the quarter, flat to the prior quarter and up from $780 million in the prior year. Net investment income increased versus the prior year primarily due to higher limited partnership income, favorable prepayment speed adjustments on mortgage-backed securities, and continued growth in invested assets. The reported yield and the core yield3 for the quarter were 4.93 percent and 4.80 percent, respectively, compared to 4.95 percent and 4.86 percent, respectively, in the prior quarter.
Genworth’s effective tax rate on income from continuing operations was approximately 20 percent, bringing the year-to-date effective tax rate to approximately 27 percent. The effective tax rate for the quarter was impacted by tax timing adjustments and lower taxes on foreign operations.
Adjusted operating income (loss) results by business line are summarized in the table below:

Adjusted Operating Income (Loss)	  	 	 	  	 	 	  	 	 		
	(Amounts in millions)	  	Q3 19 	 	  	Q2 19 	 	  	Q3 18	 	
U.S. Mortgage Insurance	  	$	 137	 	  	$	 147	 	  	$	 118			
Australia Mortgage Insurance	  	 	12	 	  	 	13	 	  	 	17			
U.S. Life Insurance	  	 	(1	)  	  	 	66	 	  	 	(3	) 		
Runoff	  	 	10	 	  	 	9	 	  	 	14			
Corporate and Other	  	 	(35	)  	  	 	(57	)  	  	 	(47	) 		
	  	 	 	 	  	 	 	 	  	 	 	 		
Total Adjusted Operating Income	  	$	123	 	  	$	178	 	  	$	99			
	  	 	 	 	  	 	 	 	  	 	 	 		
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), goodwill impairments, gains (losses) on the sale of businesses, gains (losses) on the early
 
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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.
Unless specifically noted in the discussion of results for the Australia MI business, references to percentage changes exclude the impact of translating foreign denominated activity into U.S. dollars (foreign exchange). Percentage changes that include the impact of foreign exchange are found in a table at the end of this press release.
U.S. Mortgage Insurance

Operating Metrics	  	 	 	 	 	 	 	 	 	
(Dollar amounts in millions)	  	Q3 19	 	 	Q2 19	 	 	Q3 18	 	
Adjusted operating income	  	$	137	 	 	$	147	 	 	$	118	 	
New insurance written	  				 				 				
Primary Flow	  	$	 18,900	 	 	$	 15,800	 	 	$	 10,300	 	
Loss ratio	  	 	11	% 	 	 	—  	% 	 	 	11	% 	
U.S. MI reported adjusted operating income of $137 million, compared with $147 million in the prior quarter and $118 million in the prior year. U.S. MI’s flow insurance in force increased 14 percent versus the prior year from strong NIW, driving continued growth in earned premiums, which exceeded $215 million. The loss ratio in the current quarter was 11 percent, up 11 points sequentially and flat to the prior year. Prior quarter results included a favorable $10 million pre-tax reserve adjustment which reduced that period’s loss ratio by five points.
U.S. MI achieved $18.9 billion in flow NIW in the quarter, up 20 percent from the prior quarter and 83 percent versus the prior year driven primarily by a larger estimated mortgage insurance market from higher refinance originations as rates declined further during the quarter. The increase in flow NIW versus the prior year was also driven by an estimated increase in market share with the market adoption of the company’s proprietary risk-based pricing engine, GenRATE, and selective participation in forward commitment transactions.
 
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Australia Mortgage Insurance

Operating Metrics	  	 	 	 	 	 	 	 	 		
	(Dollar amounts in millions)	  	Q3 19	 	 	Q2 19	 	 	Q3 18	 	
Adjusted operating income	  	$	12	 	 	$	13	 	 	$	17	 		
New insurance written	  				 				 					
Flow	  	$	 4,600	 	 	$	 3,700	 	 	$	 3,800	 		
Bulk	  	$	—  	 	 	$	1,200	 	 	$	—  	 		
Loss ratio	  	 	36	% 	 	 	34	% 	 	 	31	% 		
Australia MI reported adjusted operating income of $12 million versus $13 million in the prior quarter and $17 million in the prior year. Australia MI flow NIW increased 27 percent sequentially and 32 percent versus the prior year, primarily due to higher mortgage origination volume from certain key customers. The loss ratio in the quarter was 36 percent, up two points sequentially and up five points from the prior year primarily due to lower levels of earned premium from portfolio seasoning.
U.S. Life Insurance

Adjusted Operating Income (Loss)	  	 	 	  	 	 	  	 	 		
	(Amounts in millions)	  	Q3 19	 	  	Q2 19	 	  	Q3 18	 	
Long Term Care Insurance	  	$	 21		  	$	 37		  	$	 (24	) 		
Life Insurance	  	 	(25	) 	  	 	10		  	 	(2	) 		
Fixed Annuities	  	 	3		  	 	19		  	 	23			
	  	 	 	 	  	 	 	 	  	 	 	 		
Total U.S. Life Insurance	  	$	 (1	) 	  	$	 66		  	$	(3	) 		
	  	 	 	 	  	 	 	 	  	 	 	 		
Long Term Care Insurance
Long term care insurance reported adjusted operating income of $21 million, compared with adjusted operating income of $37 million in the prior quarter and an adjusted operating loss of $24 million in the prior year. Compared to the prior quarter and prior year, results reflected higher earnings from in force rate actions, partially offset by growth in new claims. Compared to the prior quarter, results also reflected seasonally lower claim terminations.
The company completed its annual review of LTC claim reserves in the third quarter. The review concluded with no significant adjustments to its assumptions and methodologies related to LTC claim reserves, as experience in aggregate was in line with expectations. In the fourth quarter of 2019, the company will perform loss recognition and cash flow testing for all of its U.S. life insurance products. Fourth quarter annual testing will include review of assumptions, including incidence, benefit utilization, mortality, interest rates and in force rate actions, among other assumptions, and incorporate emerging claim experience in newer LTC blocks. Results of the annual testing as well as assumption reviews will be part of fourth quarter earnings disclosures.
 
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Life Insurance
Life insurance reported an adjusted operating loss of $25 million, compared with adjusted operating income of $10 million in the prior quarter and an adjusted operating loss of $2 million in the prior year. Results versus the prior quarter and prior year reflected higher amortization of deferred acquisition costs (DAC) primarily associated with higher lapses from large 20-year level-premium term life insurance blocks entering their post-level premium periods, partially offset by lower mortality. Current quarter results included an unfavorable after-tax adjustment of $10 million for higher ceded reinsurance rates. Results in the prior quarter included a reinsurance correction and an adjustment for higher ceded reinsurance rates resulting in a net favorable after-tax impact of $17 million.
Fixed Annuities
Fixed annuities reported adjusted operating income of $3 million, compared with $19 million in the prior quarter and $23 million in the prior year. Results included unfavorable charges of $13 million after-tax from loss recognition testing on the single premium immediate annuity block due to lower interest rates versus $4 million in the prior quarter. Results versus the prior quarter and prior year reflected lower net spreads. Results versus the prior quarter and prior year also reflected higher reserves in fixed indexed annuities due to the decline in interest rates.
Runoff
Runoff reported adjusted operating income of $10 million, compared with $9 million in the prior quarter and $14 million in the prior year. Results in the current quarter reflected unfavorable impacts in the company’s variable annuity business from less favorable equity market performance and lower interest rates compared to the prior quarter and prior year, with lower mortality relative to the prior quarter.
Corporate And Other
Corporate and Other reported an adjusted operating loss of $35 million, compared with $57 million in the prior quarter and $47 million in the prior year. Results in the current quarter reflected favorable tax timing adjustments and lower expenses relative to the prior quarter and prior year.
 
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Capital & Liquidity
Genworth maintains the following capital positions in its operating subsidiaries:

Key Capital & Liquidity Metrics 	  				 				 					
	(Dollar amounts in millions)	  	Q3 19	 	 	Q2 19	 	 	Q3 18	 	
U.S. MI	  				 				 					
Consolidated Risk-To-Capital Ratio5 	  	 	11.9:1	 	 	 	11.8:1	 	 	 	12.3:1	 		
Genworth Mortgage Insurance Corporation Risk-To-Capital Ratio5 	  	 	12.1:1	 	 	 	12.1:1	 	 	 	12.6:1	 		
Private Mortgage Insurer Eligibility Requirements (PMIERs) Sufficiency Ratio5, 6	  	 	129	% 	 	 	123	% 	 	 	130	% 		
Australia MI	  				 				 					
Prescribed Capital Amount (PCA) Ratio5 	  	 	198	% 	 	 	208	% 	 	 	185	% 		
U.S. Life Insurance Companies	  				 				 					
Consolidated Risk-Based Capital (RBC) Ratio5 	  	 	200	% 	 	 	191	% 	 	 	268	% 		
Holding Company Cash and Liquid Assets7, 8	  	$	366		 	$	403		 	$	609			
Key Points
 
•	 	U.S. MI’s PMIERs sufficiency ratio is estimated to be 129 percent, in excess of $850 million above requirements. Capital sufficiency increased in the quarter from continued earnings as well as from the execution of an excess of loss reinsurance transaction during the quarter;	
 
•	 	Australia MI’s PCA ratio is estimated to be 198 percent, above the company’s target operating range of 132 to 144 percent. The ratio decreased in the quarter driven primarily by lower available capital from dividends paid in the quarter;	
 
•	 	The U.S. Life insurance companies’ consolidated RBC ratio is estimated to be approximately 200 percent, up from 191 percent in the prior quarter, as in force statutory earnings more than offset increases in required capital primarily in variable annuities from lower interest rates and growth of new claims in LTC;	
 
•	 	The holding company ended the quarter with $366 million of cash and liquid assets, which is below the company’s target of two times expected annual debt interest payments excluding restricted cash and assets. In fourth quarter results, holding company cash will reflect a $250 million ordinary dividend from U.S. MI and a $36 million special dividend from Canada MI, both of which were paid in October 2019.	

5 	Company estimate for the third quarter of 2019 due to timing of the preparation and filing of statutory statements.	
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 for the U.S. mortgage insurance business. The periods ending September 30, 2019 and June 30, 2019 reflect the revised PMIERs standards effective March 31, 2019. As of September 30, 2019, June 30, 2019, and September 30, 2018, the PMIERs sufficiency ratios were in excess of $850 million, $650 million and $750 million, respectively, of available assets above the applicable PMIERs requirements.	
7 	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.	
8 	Genworth Holdings, Inc. had $297 million, $358 million and $534 million of cash, cash equivalents and restricted cash as of September 30, 2019, June 30, 2019 and September 30, 2018, respectively, which included approximately $7 million, $7 million and $16 million of restricted cash, respectively. Genworth Holdings, Inc. also held $69 million, $45 million and $75 million in U.S. government securities as of September 30, 2019, June 30, 2019 and September 30, 2018, respectively, which included $59 million, $42 million and $37 million, respectively, of restricted assets.	
 
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About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 insurance holding company committed to helping families achieve the dream of homeownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.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. From time to time, Genworth’s publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth Mortgage Insurance Australia Limited, separately release financial and other information about their operations. This information can be found at http://genworth.ca and http://www.genworth.com.au.
Conference Call And Financial Supplement Information
This press release and the third quarter 2019 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 7:00 a.m. on October 30, 2019. Investors are encouraged to review these materials.
Genworth will conduct a conference call on October 30, 2019 at 8:00 a.m. (ET) to discuss business results and provide an update on strategic objectives, including the pending sale of Genworth Canada and pending transaction with Oceanwide. Genworth’s October 30th conference call will be accessible via telephone and the Internet. The dial-in number for the conference call is 888 208.1820 or 323 794.2110 (outside the U.S.); conference ID # 8212170. 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 # 8212170 through November 14, 2019. The webcast will also be archived on the company’s website for one year.
 
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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), goodwill impairments, 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 impairments, 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. Goodwill impairments, 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.
In 2019, the company revised how it taxes the adjustments to reconcile net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) to align the tax rate used in the reconciliation to each segment’s local jurisdictional tax rate. Beginning in the first quarter of 2019, the company used a tax rate of 30 percent for its Australia Mortgage Insurance segment to tax effect its adjustments. Its domestic segments remain at a 21 percent tax rate. In 2018, the company assumed a flat 21 percent tax rate on adjustments for all of its segments to reconcile net income (loss) available to Genworth Financial, Inc.’s common stockholders and adjusted operating income (loss). These adjustments are also net of the portion attributable to noncontrolling interests and net investment gains (losses) are adjusted for DAC and other intangible amortization and certain benefit reserves.
Prior year amounts have not been re-presented to reflect this revised presentation; however, the previous methodology would not have resulted in a materially different segment-level adjusted operating income (loss).
 
10

The company recorded a pre-tax expense of $2 million in the third quarter of 2018 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 during the periods presented.
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, 2019 and 2018, as well as for the three months ended June 30, 2019, 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.
Definition of Selected Operating Performance Measures
The company taxes its international businesses at their local jurisdictional tax rates and its domestic businesses at the U.S. corporate federal income tax rate of 21 percent. The company’s segment tax methodology applies the respective jurisdictional or domestic tax rate to the pre-tax income (loss) of each segment, which is then adjusted in each segment to reflect the tax attributes of items unique to that segment such as foreign withholding taxes and permanent differences between U.S. GAAP and local 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. 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. Insurance in force for the company’s mortgage insurance businesses is a measure of the aggregate original loan balance for outstanding insurance policies as of the respective reporting date. Risk in force for the company’s U.S. mortgage insurance business is based on the coverage percentage applied to the estimated current outstanding loan balance. Risk in force in the Australia mortgage insurance business is computed using an “effective” risk in force amount, which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in force has been calculated by applying to insurance in force a factor of 35 percent that represents the highest expected average per-claim payment for any one underwriting year over the life of the company’s mortgage insurance business in Australia. The company also has certain risk share arrangements in Australia where it provides pro-rata coverage of certain loans rather than 100 percent coverage. As a result, for loans with these risk share arrangements, the applicable
 
11

pro-rata coverage amount provided is used when applying the factor. 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 mortgage insurance businesses, 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, 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.
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 the transactions with China Oceanwide Holdings Group Co., Ltd. (together with its affiliates, Oceanwide), the company’s discussions with regulators in connection therewith and any capital contribution resulting therefrom, as well as any statements regarding the pending sale of Genworth MI Canada Inc. (Genworth Canada). 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:
• risks related to the proposed transaction with Oceanwide including: the company’s inability to complete the transaction with Oceanwide in a timely manner or at all; the parties’ inability to obtain regulatory approvals, clearances or extensions, or the possibility that such regulatory approvals or clearances may further delay the transaction with Oceanwide or will not be received prior to December 31, 2019 (and either or both of the parties may not be willing to further waive their end date termination rights beyond December 31, 2019) or that materially burdensome or adverse regulatory conditions may be imposed or undesirable measures may be required in connection with any such regulatory approvals, clearances or extensions (including those conditions or measures that either or both of the parties may be unwilling to accept or undertake, as applicable) or that with continuing delays, circumstances may arise that make one or both parties unwilling to proceed with the transaction with Oceanwide or unable to comply with the conditions to existing regulatory approvals; the risk that the parties will not be able to obtain other regulatory approvals, clearances or extensions, including in connection with a potential alternative funding structure or the current geo-political environment, or that one or more regulators may rescind or fail to extend existing approvals, or that the revocation by one regulator of approvals will lead to the revocation of approvals by other regulators; the parties’ inability to obtain any necessary regulatory approvals, clearances or extensions for the post-closing capital plan; the risk that a condition to the closing of the transaction with Oceanwide may not be satisfied or that a condition to closing that is currently satisfied may not remain satisfied due to the delay in closing the transaction with Oceanwide; the risk that the sale of Genworth Canada may not be completed in a timely manner or at all, which may adversely affect the company’s business and the price of its common stock; other risks relating to the sale of Genworth Canada that are similar to the foregoing, including the ability of the parties to obtain regulatory approvals for the sale of Genworth Canada, or the possibility that regulatory approvals may delay the sale of Genworth Canada or that materially burdensome or adverse regulatory conditions may be imposed in connection with any such
 
12

regulatory approvals; the risk that a condition to closing of the sale of Genworth Canada may not be satisfied or the risk that the transaction with Oceanwide might not close regardless of a sale of Genworth Canada; Genworth’s inability to recognize the anticipated benefits of the sale of Genworth Canada; the risk that existing and potential legal proceedings may be instituted against the company in connection with the transaction with Oceanwide or the sale of Genworth Canada that may delay the transactions, make it more costly or ultimately preclude it; the risk that any cash proceeds received by Genworth Financial International Holdings, LLC from the sale of Genworth Canada may be restricted or limited as a result of pending litigation summarized in Genworth’s Quarterly Report on Form 10-Q; the risk that the proposed transactions disrupt the company’s current plans and operations as a result of the announcement and consummation of the transactions; certain restrictions during the pendency of the transactions that may impact the company’s ability to pursue certain business opportunities or strategic transactions; continued availability of capital and financing to the company before, or in the absence of, the consummation of the transactions; further rating agency actions and downgrades in the company’s debt or financial strength ratings; changes in applicable laws or regulations; the company’s ability to recognize the anticipated benefits of the transaction with Oceanwide; the amount of the costs, fees, expenses and other charges related to the transactions, including costs and expenses related to conditions imposed in connection with regulatory approvals or clearances, which may be material; the company’s ability to attract, recruit, retain and motivate current and prospective employees may be adversely affected; and disruptions and uncertainty relating to the Oceanwide transaction, whether or not it is completed, may harm the company’s relationships with its employees, customers, distributors, vendors or other business partners, and may result in a negative impact on the company’s business;
• strategic risks in the event the proposed transaction with Oceanwide is not consummated including: the company’s inability to successfully execute alternative strategic plans to effectively address its current business challenges (including with respect to stabilizing its U.S. life insurance businesses, debt obligations, cost savings, ratings and capital); 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; failure to obtain any required regulatory, stockholder and/or noteholder approvals or consents for such alternative strategic plans, or 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; inability to achieve anticipated cost-savings in a timely manner; adverse tax or accounting charges; and the company’s ability to increase the capital needed in its mortgage insurance businesses in a timely manner and on anticipated terms, including through business performance, reinsurance or similar transactions, asset sales, securities offerings or otherwise, in each case as and when required;
• 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 the company expects to complete and carry out in the fourth quarter of 2019); risks related to the impact of the annual review of assumptions and methodologies related to the long term care insurance margin review in the fourth quarter of 2019, including risks that additional information obtained in finalizing the margin reviews in the fourth quarter of 2019 or other changes to assumptions or methodologies materially affect the impact on margins; inaccurate models; deviations from company estimates and actuarial assumptions or other reasons in the company’s 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 the company may make to assumptions, methodologies or otherwise in connection with periodic or other reviews, including reviews the company expects to complete and carry out in the fourth quarter of 2019); adverse impact on the company’s financial results as a result of projected profits followed by projected losses (as is currently the case with the long-term care insurance business); adverse impact on the company’s results of operations, including the outcome of annual review of the premium earnings pattern for the mortgage insurance business in Australia (which the company expects to carry out in the fourth quarter of 2019); and changes in valuation of fixed maturity and equity securities;
 
13

• risks relating to economic, market and political conditions including: downturns and volatility in global economies and equity and credit markets; 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 mortgage insurance; 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 the company’s subsidiaries (particularly its international subsidiaries) 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 and insurance, regulatory or corporate law restrictions; adverse change in regulatory requirements, including risk-based capital; changes in regulations adversely affecting the company’s international operations; inability to continue to maintain the private mortgage insurer eligibility requirements (PMIERs); 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 on 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 company’s mortgage insurance businesses; inability to continue to implement actions to mitigate the impact of statutory reserve requirements; impact of additional regulations pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act; changes in tax laws; and changes in accounting and reporting standards;
• liquidity, financial strength ratings, credit and counterparty risks including: insufficient internal sources to meet liquidity needs and limited or no access to capital (including the ability to obtain further financing under an additional secured term loan or credit facility); continued availability of capital and financing before the consummation of the sale of Genworth Canada; the amount of the costs, fees, expenses and other charges related to the commitment letter from Brookfield Business Partners L.P.; future adverse rating agency actions, including with respect to rating downgrades or potential downgrades or being put on review for potential downgrade, all of which could have adverse implications for the company, 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 events impacting the value of the company’s fixed maturity securities portfolio; and defaults on the company’s commercial mortgage loans or the mortgage loans underlying its investments in commercial mortgage-backed securities and volatility in performance;
• operational risks including: inability to retain, attract and motivate qualified employees or senior management; ineffective or inadequate risk management in identifying, controlling or mitigating risks; reliance on, and loss of, key customer or distribution relationships; competition, including in the company’s mortgage insurance businesses from government and government-owned and government-sponsored enterprises (GSEs) offering mortgage insurance; 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 and business continuity plans and failures to safeguard, or breaches of, its confidential information;
• insurance and product-related risks including: the company’s inability to increase premiums and associated benefit reductions sufficiently, and in a timely manner, on in force long term care insurance policies, and charge higher premiums on policies, in each case, as currently anticipated and as may be required from time to time in the future (including as a result of the
 
14

company’s failure to obtain any necessary regulatory approvals or unwillingness or inability of policyholders to pay increased premiums and/or accept reduced benefits), including to offset any impact on the company’s long term care insurance margins; availability, affordability and adequacy of reinsurance to protect the company against losses; inability to realize anticipated benefits of the company’s rescissions, curtailments, loan modifications or other similar programs in its mortgage insurance businesses; premiums for the significant portion of the company’s mortgage insurance risk in force with high loan-to-value ratios may not be sufficient to compensate the company for the greater risks associated with those policies; decreases in the volume of high loan-to-value 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;
• other risks including: impairments of or valuation allowances against the company’s deferred tax assets; the possibility that in certain circumstances the company will be obligated to make payments to General Electric Company (GE) under the tax matters agreement with GE even if its corresponding tax savings are never realized and payments could be accelerated in the event of certain changes in control; and provisions of the company’s certificate of incorporation and bylaws and the tax matters agreement with GE may discourage takeover attempts and business combinations that stockholders might consider in their best interests; and
• risks relating to the company’s common stock including: the continued suspension of payment of dividends; and stock price fluctuations.
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.
# # #
Contact Information:

Investors:	  	investorinfo@genworth.com	
		
Media:	  	Julie Westermann, 804 662.2423	
	  	julie.westermann@genworth.com	
 
15

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

 	  	Three months ended
September 30,	 	 	Three months ended
June 30,	 	
 	  	2019	 	 	2018	 	 	2019	 	
Revenues:	  				 				 				
Premiums	  	$	 1,015		 	$	995		 	$	 1,001		
Net investment income	  	 	816		 	 	780		 	 	816		
Net investment gains (losses)	  	 	(2	) 	 	 	(16	) 	 	 	(46	) 	
Policy fees and other income	  	 	191		 	 	193		 	 	223		
	  	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	2,020		 	 	1,952		 	 	1,994		
	  	 	 	 	 	 	 	 	 	 	 	 	
Benefits and expenses:	  				 				 				
Benefits and other changes in policy reserves	  	 	1,284		 	 	1,303		 	 	1,251		
Interest credited	  	 	146		 	 	151		 	 	146		
Acquisition and operating expenses, net of deferrals	  	 	247		 	 	231		 	 	229		
Amortization of deferred acquisition costs and intangibles	  	 	112		 	 	72		 	 	84		
Interest expense	  	 	59		 	 	60		 	 	60		
	  	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	1,848		 	 	1,817		 	 	1,770		
	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations before income taxes	  	 	172		 	 	135		 	 	224		
Provision for income taxes	  	 	34		 	 	30		 	 	66		
	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	 	138		 	 	105		 	 	158		
Income (loss) from discontinued operations, net of taxes	  	 	(80	) 	 	 	105		 	 	60		
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income	  	 	58		 	 	210		 	 	218		
Less: net income from continuing operations attributable to noncontrolling interests	  	 	10		 	 	18		 	 	15		
Less: net income from discontinued operations attributable to noncontrolling interests	  	 	30		 	 	46		 	 	35		
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders	  	$	18		 	$	146		 	$	168		
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders:	  				 				 				
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders	  	$	128		 	$	87		 	$	143		
Income (loss) from discontinued operations available to Genworth Financial, Inc.’s common stockholders	  	 	(110	) 	 	 	59		 	 	25		
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders	  	$	18		 	$	146		 	$	168		
	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders per share:	  				 				 				
Basic	  	$	0.25		 	$	0.17		 	$	0.29		
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.25		 	$	0.17		 	$	0.28		
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders per share:	  				 				 				
Basic	  	$	0.04		 	$	0.29		 	$	0.33		
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.04		 	$	0.29		 	$	0.33		
	  	 	 	 	 	 	 	 	 	 	 	 	
Weighted-average common shares outstanding:	  				 				 				
Basic	  	 	503.5		 	 	500.7		 	 	503.4		
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	 	511.2		 	 	503.3		 	 	508.7		

16

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

 	  	Three
months ended
September 30,	 	 	Three
months ended
June 30,	 	
 	  	2019	 	 	2018	 	 	2019	 	
Net income available to Genworth Financial, Inc.’s common stockholders	  	$	18		 	$	146		 	$	168		
Add: net income from continuing operations attributable to noncontrolling interests	  	 	10		 	 	18		 	 	15		
Add: net income from discontinued operations attributable to noncontrolling interests	  	 	30		 	 	46		 	 	35		
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income	  	 	58		 	 	210		 	 	218		
Less: income (loss) from discontinued operations, net of taxes	  	 	(80	) 	 	 	105		 	 	60		
	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	 	138		 	 	105		 	 	158		
Less: net income from continuing operations attributable to noncontrolling interests	  	 	10		 	 	18		 	 	15		
	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders	  	 	128		 	 	87		 	 	143		
Adjustments to income from continuing operations available to Genworth Financial, Inc.’s common stockholders:	  				 				 				
Net investment (gains) losses, net9	  	 	(5	) 	 	 	14		 	 	43		
Expenses related to restructuring	  	 	—  	 	 	 	2		 	 	—  	 	
Taxes on adjustments	  	 	—  	 	 	 	(4	) 	 	 	(8	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income	  	$	123		 	$	99		 	$	178		
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income (loss):	  				 				 				
U.S. Mortgage Insurance segment	  	$	137		 	$	118		 	$	147		
Australia Mortgage Insurance segment	  	 	12		 	 	17		 	 	13		
U.S. Life Insurance segment:	  				 				 				
Long Term Care Insurance	  	 	21		 	 	(24	) 	 	 	37		
Life Insurance	  	 	(25	) 	 	 	(2	) 	 	 	10		
Fixed Annuities	  	 	3		 	 	23		 	 	19		
	  	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance segment	  	 	(1	) 	 	 	(3	) 	 	 	66		
	  	 	 	 	 	 	 	 	 	 	 	 	
Runoff segment	  	 	10		 	 	14		 	 	9		
Corporate and Other	  	 	(35	) 	 	 	(47	) 	 	 	(57	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income	  	$	123		 	$	99		 	$	178		
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders per share:	  				 				 				
Basic	  	$	0.04		 	$	0.29		 	$	0.33		
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.04		 	$	0.29		 	$	0.33		
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income per share:	  				 				 				
Basic	  	$	0.25		 	$	0.20		 	$	0.35		
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.24		 	$	0.20		 	$	0.35		
	  	 	 	 	 	 	 	 	 	 	 	 	
Weighted-average common shares outstanding:	  				 				 				
Basic	  	 	503.5		 	 	500.7		 	 	503.4		
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	 	511.2		 	 	503.3		 	 	508.7		

 

9 	For the three months ended September 30, 2019, September 30, 2018 and June 30, 2019, net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves of $(3) million in each period and adjusted for net investment gains (losses) attributable to noncontrolling interests of $(4) million, $1 million and zero, respectively.	
 
17

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

 	  	September 30,
2019	 	 	December 31,
2018	 	
Assets	  				 				
Cash, cash equivalents, restricted cash and invested assets	  	$	74,539		 	$	68,165		
Deferred acquisition costs	  	 	1,881		 	 	3,142		
Intangible assets and goodwill	  	 	210		 	 	333		
Reinsurance recoverable	  	 	17,180		 	 	17,278		
Deferred tax and other assets	  	 	715		 	 	1,131		
Separate account assets	  	 	6,005		 	 	5,859		
Assets held for sale related to discontinued operations	  	 	5,123		 	 	5,015		
	  	 	 	 	 	 	 	 	
Total assets	  	$	 105,653		 	$	 100,923		
	  	 	 	 	 	 	 	 	
Liabilities and equity	  				 				
Liabilities:	  				 				
Future policy benefits	  	$	40,489		 	$	37,940		
Policyholder account balances	  	 	22,607		 	 	22,968		
Liability for policy and contract claims	  	 	10,780		 	 	10,295		
Unearned premiums	  	 	1,863		 	 	2,013		
Other liabilities	  	 	1,445		 	 	1,529		
Non-recourse funding obligations	  	 	311		 	 	311		
Long-term borrowings	  	 	3,706		 	 	3,707		
Separate account liabilities	  	 	6,005		 	 	5,859		
Liabilities held for sale related to discontinued operations	  	 	2,302		 	 	2,112		
	  	 	 	 	 	 	 	 	
Total liabilities	  	 	89,508		 	 	86,734		
	  	 	 	 	 	 	 	 	
Equity:	  				 				
Common stock	  	 	1		 	 	1		
Additional paid-in capital	  	 	11,986		 	 	11,987		
	  	 	 	 	 	 	 	 	
Accumulated other comprehensive income (loss):	  				 				
Net unrealized investment gains (losses):	  				 				
Net unrealized gains (losses) on securities not other-than-temporarily impaired	  	 	1,664		 	 	585		
Net unrealized gains (losses) on other-than-temporarily impaired securities	  	 	11		 	 	10		
	  	 	 	 	 	 	 	 	
Net unrealized investment gains (losses)	  	 	1,675		 	 	595		
Derivatives qualifying as hedges	  	 	2,259		 	 	1,781		
Foreign currency translation and other adjustments	  	 	(312	) 	 	 	(332	) 	
	  	 	 	 	 	 	 	 	
Total accumulated other comprehensive income (loss)	  	 	3,622		 	 	2,044		
Retained earnings	  	 	1,478		 	 	1,118		
Treasury stock, at cost	  	 	(2,700	) 	 	 	(2,700	) 	
	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	14,387		 	 	12,450		
Noncontrolling interests	  	 	1,758		 	 	1,739		
	  	 	 	 	 	 	 	 	
Total equity	  	 	16,145		 	 	14,189		
	  	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	 105,653		 	$	 100,923		

18

Summary of Loss From Discontinued Operations Available to
Genworth Financial Inc.’s Common Stockholders
(Amounts in millions)

 	  	Three months ended
September 30,
2019	 	
Estimated net proceeds10	  	$	 1,726		
	  				
Carrying value of Genworth Canada	  	 	3,017		
Less: carrying value attributable to noncontrolling interests 11	  	 	(1,303	) 	
	  	 	 	 	
Carrying value, excluding noncontrolling interests	  	 	1,714		
	  	 	 	 	
Excess of estimated net proceeds above carrying value	  	 	12		
Less: net deferred losses and other adjustments12	  	 	(201	) 	
	  	 	 	 	
Pre-tax loss on sale	  	 	(189	) 	
Tax benefit	  	 	25		
	  	 	 	 	
After-tax estimated loss on sale	  	 	(164	) 	
	  				
Income from discontinued operations, excluding loss on sale	  	 	84		
Less: net income from discontinued operations attributable to noncontrolling interests	  	 	(30	) 	
	  	 	 	 	
Loss from discontinued operations available to Genworth Financial, Inc.’s common stockholders	  	$	(110	) 	
	  	 	 	 	
Reconciliation of Adjusted Operating Income Previously Reported to Adjusted Operating Income
Re-Presented to Exclude Discontinued Operations
(Amounts in millions)

 	  	Three months ended	 	
 	  	June 30,
2019	 	  	September 30,
2018	 	
Adjusted operating income as previously reported	  	$	 204		  	$	 145		
Remove Canada Mortgage Insurance segment adjusted operating income reported as discontinued operations	  	 	(41	) 	  	 	(44	) 	
Adjustment for corporate overhead allocations, net of taxes13	  	 	(5	) 	  	 	(4	) 	
Adjustment for interest on debt that is required to be repaid as a result of the disposal transaction, net of taxes14	  	 	6		  	 	6		
Tax adjustments15	  	 	14		  	 	(4	) 	
	  	 	 	 	  	 	 	 	
Re-presented adjusted operating income 	  	$	 178		  	$	99		

10 	Net proceeds after adjusting for fees, expenses, foreign exchange, and special dividend of CAD$1.45 announced on September 12, 2019.	
11 	Excludes net deferred losses attributable to noncontrolling interests of $102 million that are described in the following footnote.	
12 	Primarily driven by net deferred losses from cumulative historical foreign currency translation adjustments and deferred taxes in other comprehensive income as a result of tax law changes and change of intent regarding permanent reinvestment partially offset by unrealized net gain on investments reflected in other comprehensive income.	
13 	Expenses previously reported in the Canada MI segment and moved to Corporate and Other Activities.	
14 	Interest on a senior secured term loan owed by Genworth Holdings, Inc. previously reported in Corporate and Other Activities and moved to discontinued operations.	
15 	Tax impacts resulting from the classification of Genworth Canada as held-for-sale.	
 
19

Impact of Foreign Exchange on Adjusted Operating Income and Flow New Insurance Written16
Three months ended September 30, 2019

 	  	Percentages
Including Foreign
Exchange	 	 	Percentages
Excluding Foreign
Exchange17	 	
Australia MI:	  				 				
Adjusted operating income	  	 	(29	)% 	 	 	(24	)% 	
Flow new insurance written	  	 	21	% 	 	 	32	% 	
Flow new insurance written (3Q19 vs. 2Q19)	  	 	24	% 	 	 	27	% 	

16 	All percentages are comparing the third quarter of 2019 to the third quarter of 2018 unless otherwise stated.	
17 	The impact of foreign exchange was calculated using the comparable prior period exchange rates.	
 
20

Reconciliation of Reported Yield to Core Yield

 	  	Three
months ended	 		
	(Assets - amounts in billions)	  	September 30,
2019	 	 	June 30,
2019	 	
Reported Total Invested Assets and Cash	  	$	73.9	 	 	$	72.0	 		
Subtract:	  				 					
Securities lending	  	 	0.1	 	 	 	0.1	 		
Unrealized gains (losses)	  	 	7.5	 	 	 	5.7	 		
	  	 	 	 	 	 	 	 		
Adjusted End of Period Invested Assets and Cash	  	$	66.3	 	 	$	66.2	 		
	  	 	 	 	 	 	 	 		
Average Invested Assets and Cash Used in Reported Yield Calculation	  	$	66.2	 	 	$	66.0	 		
Subtract:	  				 					
Restricted commercial mortgage loans related to a securitization entity18	  	 	—  	 	 	 	—  	 		
	  	 	 	 	 	 	 	 		
Average Invested Assets and Cash Used in Core Yield Calculation	  	$	66.2	 	 	$	66.0	 		

	(Income - amounts in millions)	  	 	 	 	 	 	
Reported Net Investment Income	  	$	816	 	 	$	816	 		
Subtract:	  				 					
Bond calls and commercial mortgage loan prepayments	  	 	13	 	 	 	7	 		
Other non-core items19	  	 	8	 	 	 	7	 		
Restricted commercial mortgage loans related to a securitization entity18	  	 	—  	 	 	 	—  	 		
	  	 	 	 	 	 	 	 		
Core Net Investment Income	  	$	795	 	 	$	802	 		
	  	 	 	 	 	 	 	 		
Reported Yield	  	 	4.93	% 	 	 	4.95	% 		
	  	 	 	 	 	 	 	 		
Core Yield	  	 	4.80	% 	 	 	4.86	% 		

18 	Represents the incremental assets and investment income related to restricted commercial mortgage loans.	
19 	Includes cost basis adjustments on structured securities and various other immaterial items.	
 
21

Table of Contents
Exhibit 99.2

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019

	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 and Sales—U.S. Mortgage Insurance Segment	  	 	16-22	 		
Adjusted Operating Income and Sales—Australia Mortgage Insurance Segment	  	 	24-27	 		
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment	  	 	29-32	 		
Adjusted Operating Income (Loss)—Runoff Segment	  	 	34	 		
Adjusted Operating Loss—Corporate and Other Activities	  	 	36	 		
			
Additional Financial Data	  					
Investments Summary	  	 	38	 		
Fixed Maturity Securities Summary	  	 	39	 		
General Account U.S. GAAP Net Investment Income Yields	  	 	40	 		
Net Investment Gains (Losses), Net—Detail	  	 	41	 		
			
Reconciliations of Non-GAAP Measures	  					
Reconciliation of Operating Return On Equity (ROE)	  	 	43	 		
Reconciliation of Core Yield	  	 	44	 		
			
Corporate Information	  					
Financial Strength Ratings	  	 	46	 		
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

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Dear Investor,
Beginning in the third quarter of 2019, the Canada mortgage insurance business (Genworth Canada), previously the only business in the Canada Mortgage Insurance segment, is reported as discontinued operations. Accordingly, all prior periods herein have been re-presented. During the third quarter of 2019, in connection with the plan to sell Genworth Canada, the company recorded an estimated after-tax loss of approximately $164 million. In accordance with the accounting guidance for groups of assets that are held-for-sale, an impairment and cost to sell of $196 million was recorded to reduce the carrying value of the business to its fair value, which was based on estimated cash proceeds of $1.8 billion less a special declared dividend of CAD$1.45 per common share and closing costs. Genworth Financial International Holdings, LLC and Genworth Mortgage Insurance Corporation, indirect wholly-owned subsidiaries of the company that own 40.4% and 16.5%, respectively, of the issued and outstanding shares of Genworth Canada, will receive the net cash proceeds based upon their respective ownership percentage upon deal closing. The sale is targeted to close by the end of 2019 and is subject to other customary conditions, including requisite regulatory approvals.
The following table presents a reconciliation of adjusted operating income (loss) as previously reported to adjusted operating income (loss) re-presented to reflect the Canada mortgage insurance business as discontinued operations for the periods indicated:

 	  	2019	 	 	2018	 		
	(Amounts in millions)	  	2Q	 	 	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
ADJUSTED OPERATING INCOME (LOSS) AS PREVIOUSLY REPORTED	  	$	204	 	 	$	121	 	 	$	(291	) 	 	$	145	 	 	$	200	 	 	$	125	 	 	$	179	 		
Remove Canada Mortgage Insurance segment adjusted operating income reported as discontinued operations	  	 	(41	) 	 	 	(41	) 	 	 	(48	) 	 	 	(44	) 	 	 	(46	) 	 	 	(49	) 	 	 	(187	) 		
Adjustment for corporate overhead allocations, net of taxes(1)	  	 	(5	) 	 	 	(4	) 	 	 	(4	) 	 	 	(4	) 	 	 	(3	) 	 	 	(4	) 	 	 	(15	) 		
Adjustment for interest on debt that is required to be repaid as a result of the disposal transaction, net of taxes(2)	  	 	6	 	 	 	6	 	 	 	7	 	 	 	6	 	 	 	5	 	 	 	2	 	 	 	20	 		
Tax adjustments(3)	  	 	14	 	 	 	13	 	 	 	31	 	 	 	(4	) 	 	 	(26	) 	 	 	(3	) 	 	 	(2	) 		
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
RE-PRESENTED ADJUSTED OPERATING INCOME (LOSS)	  	$	178	 	 	$	95	 	 	$	(305	) 	 	$	99	 	 	$	130	 	 	$	71	 	 	$	(5	) 		

(1)	Expenses previously reported in the Canada Mortgage Insurance segment and moved to Corporate and Other Activities.	
(2)	Interest on a senior secured term loan facility owed by Genworth Holdings, Inc. previously reported in Corporate and Other Activities and moved to discontinued operations.	
(3)	Tax impacts resulting from the classification of Genworth Canada as held-for-sale.	
Thank you for your continued interest in Genworth Financial, Inc.
Regards,
Investor Relations
InvestorInfo@genworth.com
 
3

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
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), goodwill impairments, 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 impairments, 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. Goodwill impairments, 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.
In 2019, the company revised how it taxes the adjustments to reconcile net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) to align the tax rate used in the reconciliation to each segment’s local jurisdictional tax rate. Beginning in the first quarter of 2019, the company used a tax rate of 30% for its Australia Mortgage Insurance segment to tax effect its adjustments. Its domestic segments remain at a 21% tax rate. In 2018, the company assumed a flat 21% tax rate on adjustments for all of its segments to reconcile net income (loss) available to Genworth Financial, Inc.’s common stockholders and adjusted operating income (loss). These adjustments are also net of the portion attributable to noncontrolling interests and net investment gains (losses) are adjusted for DAC and other intangible amortization and certain benefit reserves (see page 41).
Prior year amounts have not been re-presented to reflect this revised presentation; however, the previous methodology would not have resulted in a materially different segment-level adjusted operating income (loss).
The company recorded a pre-tax expense of $4 million in the first quarter of 2019 and $2 million in the third quarter of 2018 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 other than fees incurred during the fourth quarter of 2018 related to Genworth Holdings, Inc.’s bond consent solicitation of $6 million for broker, advisor and investment banking fees.
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 43 and 44 of this financial supplement.
 
4

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
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 international businesses at their local jurisdictional tax rates and its domestic businesses at the U.S. corporate federal income tax rate of 21%. The company's segment tax methodology applies the respective jurisdictional or domestic tax rate to the pre-tax income (loss) of each segment, which is then adjusted in each segment to reflect the tax attributes of items unique to that segment such as foreign withholding taxes and permanent differences between U.S. GAAP and local 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. 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. Insurance in-force for the company’s mortgage insurance businesses is a measure of the aggregate original loan balance for outstanding insurance policies as of the respective reporting date. Risk in-force for the company's U.S. mortgage insurance business is based on the coverage percentage applied to the estimated current outstanding loan balance. Risk in-force in the Australia mortgage insurance business is computed using an “effective” risk in-force amount, which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in-force has been calculated by applying to insurance in-force a factor of 35% that represents the highest expected average per-claim payment for any one underwriting year over the life of the company's mortgage insurance business in Australia. The company also has certain risk share arrangements in Australia where it provides pro-rata coverage of certain loans rather than 100% coverage. As a result, for loans with these risk share arrangements, the applicable pro-rata coverage amount provided is used when applying the factor. 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 mortgage insurance businesses, 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, 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

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Financial Highlights
(amounts in millions, except per share data)

	Balance Sheet Data	  	September 30,
2019	 	 	June 30,
2019	 	 	March 31,
2019	 	 	December 31,
2018	 	 	September 30,
2018	 	
Total Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income	  	$	10,765	 	 	$	10,744	 	 	$	10,582	 	 	$	10,406	 	 	$	10,731	 		
Total accumulated other comprehensive income	  	 	3,622	 	 	 	3,013	 	 	 	2,492	 	 	 	2,044	 	 	 	2,067	 		
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
Total Genworth Financial, Inc.’s stockholders’ equity	  	$	14,387	 	 	$	13,757	 	 	$	13,074	 	 	$	12,450	 	 	$	12,798	 		
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
Book value per share	  	$	28.57	 	 	$	27.32	 	 	$	25.98	 	 	$	24.86	 	 	$	25.56	 		
Book value per share, excluding accumulated other comprehensive income	  	$	21.38	 	 	$	21.34	 	 	$	21.03	 	 	$	20.78	 	 	$	21.43	 		
Common shares outstanding as of the balance sheet date	  	 	503.5	 	 	 	503.5	 	 	 	503.3	 	 	 	500.8	 	 	 	500.8	 		
			
 	  	Twelve months ended	 		
	Twelve Month Rolling Average ROE	  	September 30,
2019	 	 	June 30,
2019	 	 	March 31,
2019	 	 	December 31,
2018	 	 	September 30,
2018	 	
U.S. GAAP Basis ROE	  	 	0.3	% 	 	 	1.5	% 	 	 	1.7	% 	 	 	1.1	% 	 	 	7.7	% 		
Operating ROE(1)	  	 	0.9	% 	 	 	0.6	% 	 	 	0.2	% 	 	 	—  	% 	 	 	5.7	% 		
			
 	  	Three months ended	 		
	Quarterly Average ROE	  	September 30,
2019	 	 	June 30,
2019	 	 	March 31,
2019	 	 	December 31,
2018	 	 	September 30,
2018	 	
U.S. GAAP Basis ROE	  	 	0.7	% 	 	 	6.3	% 	 	 	6.6	% 	 	 	(12.5	)% 	 	 	5.5	% 		
Operating ROE(1)	  	 	4.6	% 	 	 	6.7	% 	 	 	3.6	% 	 	 	(11.5	)% 	 	 	3.7	% 		

	Basic and Diluted Shares	  	Three months ended
September 30, 2019	 	  	Nine months ended
September 30, 2019	 	
Weighted-average common shares used in basic earnings per share calculations	  	 	503.5	 	  	 	502.7	 		
Potentially dilutive securities:	  				  					
Stock options, restricted stock units and stock appreciation rights	  	 	7.7	 	  	 	6.8	 		
	  	 	 	 	  	 	 	 		
Weighted-average common shares used in diluted earnings per share calculations	  	 	511.2	 	  	 	509.5	 		

(1) 	See page 43 herein for a reconciliation of U.S. GAAP Basis ROE to Operating ROE.	
 
6

Table of Contents
 
Consolidated Quarterly Results

 
7

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Consolidated Net Income (Loss) by Quarter
(amounts in millions, except per share amounts)

 	  	2019	 	 	2018	 	
 	  	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	 				 				 				 				 				 				 				 				
Premiums	  	$	1,015	 	 	$	1,001	 	 	$	988	 	 	$	3,004	 	 	$	993	 	 	$	995	 	 	$	1,005	 	 	$	1,001	 	 	$	3,994	 	
Net investment income	  	 	816	 	 	 	816	 	 	 	794	 	 	 	2,426	 	 	 	779	 	 	 	780	 	 	 	792	 	 	 	770	 	 	 	3,121	 	
Net investment gains (losses)	  	 	(2	) 	 	 	(46	) 	 	 	75	 	 	 	27	 	 	 	22	 	 	 	(16	) 	 	 	1	 	 	 	(16	) 	 	 	(9	) 	
Policy fees and other income	  	 	191	 	 	 	223	 	 	 	187	 	 	 	601	 	 	 	191	 	 	 	193	 	 	 	209	 	 	 	202	 	 	 	795	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	2,020	 	 	 	1,994	 	 	 	2,044	 	 	 	6,058	 	 	 	1,985	 	 	 	1,952	 	 	 	2,007	 	 	 	1,957	 	 	 	7,901	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	 				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	1,284	 	 	 	1,251	 	 	 	1,282	 	 	 	3,817	 	 	 	1,824	 	 	 	1,303	 	 	 	1,186	 	 	 	1,293	 	 	 	5,606	 	
Interest credited	  	 	146	 	 	 	146	 	 	 	147	 	 	 	439	 	 	 	152	 	 	 	151	 	 	 	152	 	 	 	156	 	 	 	611	 	
Acquisition and operating expenses, net of deferrals	  	 	247	 	 	 	229	 	 	 	237	 	 	 	713	 	 	 	249	 	 	 	231	 	 	 	236	 	 	 	227	 	 	 	943	 	
Amortization of deferred acquisition costs and intangibles	  	 	112	 	 	 	84	 	 	 	81	 	 	 	277	 	 	 	81	 	 	 	72	 	 	 	101	 	 	 	94	 	 	 	348	 	
Interest expense	  	 	59	 	 	 	60	 	 	 	60	 	 	 	179	 	 	 	61	 	 	 	60	 	 	 	66	 	 	 	69	 	 	 	256	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	1,848	 	 	 	1,770	 	 	 	1,807	 	 	 	5,425	 	 	 	2,367	 	 	 	1,817	 	 	 	1,741	 	 	 	1,839	 	 	 	7,764	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	172	 	 	 	224	 	 	 	237	 	 	 	633	 	 	 	(382	) 	 	 	135	 	 	 	266	 	 	 	118	 	 	 	137	 	
Provision (benefit) for income taxes	  	 	34	 	 	 	66	 	 	 	69	 	 	 	169	 	 	 	(109	) 	 	 	30	 	 	 	113	 	 	 	36	 	 	 	70	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	138	 	 	 	158	 	 	 	168	 	 	 	464	 	 	 	(273	) 	 	 	105	 	 	 	153	 	 	 	82	 	 	 	67	 	
Income (loss) from discontinued operations, net of taxes(1)	  	 	(80	) 	 	 	60	 	 	 	62	 	 	 	42	 	 	 	(54	) 	 	 	105	 	 	 	96	 	 	 	83	 	 	 	230	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)	  	 	58	 	 	 	218	 	 	 	230	 	 	 	506	 	 	 	(327	) 	 	 	210	 	 	 	249	 	 	 	165	 	 	 	297	 	
Less: net income from continuing operations attributable to noncontrolling interests	  	 	10	 	 	 	15	 	 	 	20	 	 	 	45	 	 	 	8	 	 	 	18	 	 	 	27	 	 	 	17	 	 	 	70	 	
Less: net income (loss) from discontinued operations attributable to noncontrolling interests	  	 	30	 	 	 	35	 	 	 	36	 	 	 	101	 	 	 	(6	) 	 	 	46	 	 	 	32	 	 	 	36	 	 	 	108	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	$	18	 	 	$	168	 	 	$	174	 	 	$	360	 	 	$	(329	) 	 	$	146	 	 	$	190	 	 	$	112	 	 	$	119	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	  			 	 				 				 				 				 				 				 				 				
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders	  	$	128	 	 	$	143	 	 	$	148	 	 	$	419	 	 	$	(281	) 	 	$	87	 	 	$	126	 	 	$	65	 	 	$	(3	) 	
Income (loss) from discontinued operations available to Genworth Financial, Inc.’s common stockholders	  	 	(110	) 	 	 	25	 	 	 	26	 	 	 	(59	) 	 	 	(48	) 	 	 	59	 	 	 	64	 	 	 	47	 	 	 	122	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	$	18	 	 	$	168	 	 	$	174	 	 	$	360	 	 	$	(329	) 	 	$	146	 	 	$	190	 	 	$	112	 	 	$	119	 	

Earnings (Loss) Per Share Data:	  				 				 				 				 				 				 				 				 				
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per share	  				 				 				 				 				 				 				 				 				
Basic	  	$	0.25	 	 	$	0.29	 	 	$	0.29	 	 	$	0.83	 	 	$	(0.56	) 	 	$	0.17	 	 	$	0.25	 	 	$	0.13	 	 	$	(0.01	) 	
Diluted	  	$	0.25	 	 	$	0.28	 	 	$	0.29	 	 	$	0.82	 	 	$	(0.56	) 	 	$	0.17	 	 	$	0.25	 	 	$	0.13	 	 	$	(0.01	) 	
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share	  				 				 				 				 				 				 				 				 				
Basic	  	$	0.04	 	 	$	0.33	 	 	$	0.35	 	 	$	0.72	 	 	$	(0.66	) 	 	$	0.29	 	 	$	0.38	 	 	$	0.22	 	 	$	0.24	 	
Diluted	  	$	0.04	 	 	$	0.33	 	 	$	0.34	 	 	$	0.71	 	 	$	(0.66	) 	 	$	0.29	 	 	$	0.38	 	 	$	0.22	 	 	$	0.24	 	
Weighted-average common shares outstanding	  				 				 				 				 				 				 				 				 				
Basic	  	 	503.5	 	 	 	503.4	 	 	 	501.2	 	 	 	502.7	 	 	 	500.8	 	 	 	500.7	 	 	 	500.6	 	 	 	499.6	 	 	 	500.4	 	
Diluted(2)	  	 	511.2	 	 	 	508.7	 	 	 	508.6	 	 	 	509.5	 	 	 	500.8	 	 	 	503.3	 	 	 	502.6	 	 	 	502.7	 	 	 	500.4	 	

(1) 	Income (loss) from discontinued operations related to the Canada mortgage insurance business. Refer to page 36 for operating results of discontinued operations.	
(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 available to Genworth Financial, Inc.’s common stockholders for the three and twelve months ended December 31, 2018, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share for the three and twelve months ended December 31, 2018, as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 7.6 million and 3.8 million, respectively, would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations available to Genworth Financial, Inc.’s common stockholders for the three and twelve months ended December 31, 2018, dilutive potential weighted-average common shares outstanding would have been 508.4 million and 504.2 million, respectively.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Reconciliation of Net Income (Loss) to Adjusted Operating Income (Loss)
(amounts in millions, except per share amounts)

 	 	2019	 	 	2018	 	
 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	 	$	18	 	 	$	168	 	 	$	174	 	 	$	360	 	 	$	(329	) 	 	$	146	 	 	$	190	 	 	$	112	 	 	$	119	 	
Add: net income from continuing operations attributable to noncontrolling interests	 	 	10	 	 	 	15	 	 	 	20	 	 	 	45	 	 	 	8	 	 	 	18	 	 	 	27	 	 	 	17	 	 	 	70	 	
Add: net income (loss) from discontinued operations attributable to noncontrolling interests	 	 	30	 	 	 	35	 	 	 	36	 	 	 	101	 	 	 	(6	) 	 	 	46	 	 	 	32	 	 	 	36	 	 	 	108	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)	 	 	58	 	 	 	218	 	 	 	230	 	 	 	506	 	 	 	(327	) 	 	 	210	 	 	 	249	 	 	 	165	 	 	 	297	 	
Less: income (loss) from discontinued operations, net of taxes	 	 	(80	) 	 	 	60	 	 	 	62	 	 	 	42	 	 	 	(54	) 	 	 	105	 	 	 	96	 	 	 	83	 	 	 	230	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	 	 	138	 	 	 	158	 	 	 	168	 	 	 	464	 	 	 	(273	) 	 	 	105	 	 	 	153	 	 	 	82	 	 	 	67	 	
Less: net income from continuing operations attributable to noncontrolling interests	 	 	10	 	 	 	15	 	 	 	20	 	 	 	45	 	 	 	8	 	 	 	18	 	 	 	27	 	 	 	17	 	 	 	70	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	 	 	128	 	 	 	143	 	 	 	148	 	 	 	419	 	 	 	(281	) 	 	 	87	 	 	 	126	 	 	 	65	 	 	 	(3	) 	
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	 			 	 				 				 				 				 				 				 				 				
Net investment (gains) losses, net(1)	 	 	(5	) 	 	 	43	 	 	 	(71	) 	 	 	(33	) 	 	 	(36	) 	 	 	14	 	 	 	4	 	 	 	8	 	 	 	(10	) 	
Expenses related to restructuring	 	 	—  	 	 	 	—  	 	 	 	4	 	 	 	4	 	 	 	—  	 	 	 	2	 	 	 	—  	 	 	 	—  	 	 	 	2	 	
Fees associated with bond consent solicitation	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	6	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	6	 	
Taxes on adjustments	 	 	—  	 	 	 	(8	) 	 	 	14	 	 	 	6	 	 	 	6	 	 	 	(4	) 	 	 	—  	 	 	 	(2	) 	 	 	—  	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	 	$	123	 	 	$	178	 	 	$	95	 	 	$	396	 	 	$	(305	) 	 	$	99	 	 	$	130	 	 	$	71	 	 	$	(5	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS):	 			 	 				 				 				 				 				 				 				 				
U.S. Mortgage Insurance segment	 	$	137	 	 	$	147	 	 	$	124	 	 	$	408	 	 	$	124	 	 	$	118	 	 	$	137	 	 	$	111	 	 	$	490	 	
Australia Mortgage Insurance segment	 	 	12	 	 	 	13	 	 	 	14	 	 	 	39	 	 	 	18	 	 	 	17	 	 	 	22	 	 	 	19	 	 	 	76	 	
U.S. Life Insurance segment:	 			 	 				 				 				 				 				 				 				 				
Long-Term Care Insurance	 	 	21	 	 	 	37	 	 	 	(20	) 	 	 	38	 	 	 	(314	) 	 	 	(24	) 	 	 	22	 	 	 	(32	) 	 	 	(348	) 	
Life Insurance	 	 	(25	) 	 	 	10	 	 	 	(2	) 	 	 	(17	) 	 	 	(108	) 	 	 	(2	) 	 	 	4	 	 	 	(1	) 	 	 	(107	) 	
Fixed Annuities	 	 	3	 	 	 	19	 	 	 	17	 	 	 	39	 	 	 	(3	) 	 	 	23	 	 	 	31	 	 	 	28	 	 	 	79	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance segment	 	 	(1	) 	 	 	66	 	 	 	(5	) 	 	 	60	 	 	 	(425	) 	 	 	(3	) 	 	 	57	 	 	 	(5	) 	 	 	(376	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Runoff segment	 	 	10	 	 	 	9	 	 	 	20	 	 	 	39	 	 	 	(2	) 	 	 	14	 	 	 	13	 	 	 	10	 	 	 	35	 	
Corporate and Other	 	 	(35	) 	 	 	(57	) 	 	 	(58	) 	 	 	(150	) 	 	 	(20	) 	 	 	(47	) 	 	 	(99	) 	 	 	(64	) 	 	 	(230	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	 	$	123	 	 	$	178	 	 	$	95	 	 	$	396	 	 	$	(305	) 	 	$	99	 	 	$	130	 	 	$	71	 	 	$	(5	) 	

Earnings (Loss) Per Share Data:	 				 				 				 				 				 				 				 				 				
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share	 				 				 				 				 				 				 				 				 				
Basic	 	$	0.04	 	 	$	0.33	 	 	$	0.35	 	 	$	0.72	 	 	$	(0.66	) 	 	$	0.29	 	 	$	0.38	 	 	$	0.22	 	 	$	0.24	 	
Diluted	 	$	0.04	 	 	$	0.33	 	 	$	0.34	 	 	$	0.71	 	 	$	(0.66	) 	 	$	0.29	 	 	$	0.38	 	 	$	0.22	 	 	$	0.24	 	
Adjusted operating income (loss) per share	 				 				 				 				 				 				 				 				 				
Basic	 	$	0.25	 	 	$	0.35	 	 	$	0.19	 	 	$	0.79	 	 	$	(0.61	) 	 	$	0.20	 	 	$	0.26	 	 	$	0.14	 	 	$	(0.01	) 	
Diluted	 	$	0.24	 	 	$	0.35	 	 	$	0.19	 	 	$	0.78	 	 	$	(0.61	) 	 	$	0.20	 	 	$	0.26	 	 	$	0.14	 	 	$	(0.01	) 	
Weighted-average common shares outstanding	 				 				 				 				 				 				 				 				 				
Basic	 	 	503.5	 	 	 	503.4	 	 	 	501.2	 	 	 	502.7	 	 	 	500.8	 	 	 	500.7	 	 	 	500.6	 	 	 	499.6	 	 	 	500.4	 	
Diluted(2)	 	 	511.2	 	 	 	508.7	 	 	 	508.6	 	 	 	509.5	 	 	 	500.8	 	 	 	503.3	 	 	 	502.6	 	 	 	502.7	 	 	 	500.4	 	

(1)	Net investment (gains) losses were adjusted for the portion attributable to noncontrolling interests and DAC and other intangible amortization and certain benefit reserves (see page 41 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 available to Genworth Financial, Inc.’s common stockholders for the three and twelve months ended December 31, 2018, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share for the three and twelve months ended December 31, 2018, as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 7.6 million and 3.8 million, respectively, would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations available to Genworth Financial, Inc.’s common stockholders for the three and twelve months ended December 31, 2018, dilutive potential weighted-average common shares outstanding would have been 508.4 million and 504.2 million, respectively.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Consolidated Balance Sheets
(amounts in millions)

 	  	September 30,
2019	 	  	June 30,
2019	 	  	March 31,
2019	 	  	December 31,
2018	 	  	September 30,
2018	 	
ASSETS	  			 	  				  				  				  				
Investments:	  			 	  				  				  				  				
Fixed maturity securities available-for-sale, at fair value	  	$	61,233	 	  	$	59,491	 	  	$	57,153	 	  	$	55,589	 	  	$	55,167	 	
Equity securities, at fair value	  	 	239	 	  	 	262	 	  	 	251	 	  	 	275	 	  	 	320	 	
Commercial mortgage loans(1)	  	 	7,033	 	  	 	7,019	 	  	 	6,988	 	  	 	6,749	 	  	 	6,655	 	
Policy loans	  	 	2,069	 	  	 	2,076	 	  	 	1,994	 	  	 	1,861	 	  	 	1,859	 	
Other invested assets	  	 	1,693	 	  	 	1,396	 	  	 	1,106	 	  	 	1,072	 	  	 	1,167	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total investments	  	 	72,267	 	  	 	70,244	 	  	 	67,492	 	  	 	65,546	 	  	 	65,168	 	
Cash, cash equivalents and restricted cash	  	 	1,629	 	  	 	1,715	 	  	 	2,020	 	  	 	1,974	 	  	 	2,297	 	
Accrued investment income	  	 	643	 	  	 	595	 	  	 	685	 	  	 	645	 	  	 	619	 	
Deferred acquisition costs	  	 	1,881	 	  	 	1,980	 	  	 	2,097	 	  	 	3,142	 	  	 	3,208	 	
Intangible assets and goodwill	  	 	210	 	  	 	229	 	  	 	250	 	  	 	333	 	  	 	340	 	
Reinsurance recoverable	  	 	17,180	 	  	 	17,211	 	  	 	17,257	 	  	 	17,278	 	  	 	17,351	 	
Other assets	  	 	479	 	  	 	516	 	  	 	467	 	  	 	395	 	  	 	421	 	
Deferred tax asset	  	 	236	 	  	 	383	 	  	 	573	 	  	 	736	 	  	 	650	 	
Separate account assets	  	 	6,005	 	  	 	6,187	 	  	 	6,210	 	  	 	5,859	 	  	 	6,745	 	
Assets held for sale related to discontinued operations(2)	  	 	5,123	 	  	 	5,246	 	  	 	5,137	 	  	 	5,015	 	  	 	5,322	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total assets	  	$	105,653	 	  	$	104,306	 	  	$	102,188	 	  	$	100,923	 	  	$	102,121	 	

 

(1)	Included restricted commercial mortgage loans of $53 million, $56 million, $59 million, $62 million and $87 million, respectively, as of September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018 and September 30, 2018 related to a securitization entity.	
(2)	The assets held for sale related to discontinued operations have been segregated in the consolidated balance sheets. The major asset categories for discontinued operations were as follows:	

 	  	September 30,
2019	 	  	June 30,
2019	 	  	March 31,
2019	 	  	December 31,
2018	 	  	September 30,
2018	 	
ASSETS	  				  				  				  				  				
Investments:	  				  				  				  				  				
Fixed maturity securities available-for-sale, at fair value	  	$	4,225	 	  	$	4,283	 	  	$	4,207	 	  	$	4,072	 	  	$	4,237	 	
Equity securities, at fair value	  	 	373	 	  	 	382	 	  	 	384	 	  	 	380	 	  	 	463	 	
Other invested assets	  	 	129	 	  	 	139	 	  	 	102	 	  	 	116	 	  	 	187	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total investments	  	 	4,727	 	  	 	4,804	 	  	 	4,693	 	  	 	4,568	 	  	 	4,887	 	
Cash, cash equivalents and restricted cash	  	 	362	 	  	 	223	 	  	 	201	 	  	 	203	 	  	 	208	 	
Accrued investment income	  	 	38	 	  	 	31	 	  	 	41	 	  	 	30	 	  	 	38	 	
Deferred acquisition costs	  	 	125	 	  	 	125	 	  	 	122	 	  	 	121	 	  	 	128	 	
Intangible assets and goodwill	  	 	15	 	  	 	15	 	  	 	15	 	  	 	14	 	  	 	15	 	
Other assets	  	 	52	 	  	 	48	 	  	 	65	 	  	 	79	 	  	 	46	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Assets held for sale related to discontinued operations	  	 	5,319	 	  	 	5,246	 	  	 	5,137	 	  	 	5,015	 	  	 	5,322	 	
Impairment of disposal group and cost to sell	  	 	(196	) 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total assets held for sale related to discontinued operations	  	$	5,123	 	  	$	5,246	 	  	$	5,137	 	  	$	5,015	 	  	$	5,322	 	

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Consolidated Balance Sheets
(amounts in millions)
																					
 	  	September 30,
2019	 	  	June 30,
2019	 	 	March 31,
2019	 	 	December 31,
2018	 	 	September 30,
2018	 	
LIABILITIES AND EQUITY	  			 	  				 				 				 				
Liabilities:	  			 	  				 				 				 				
Future policy benefits	  	$	40,489	 	  	$	39,583	 	 	$	38,369	 	 	$	37,940	 	 	$	38,018	 	
Policyholder account balances	  	 	22,607	 	  	 	22,673	 	 	 	22,651	 	 	 	22,968	 	 	 	22,993	 	
Liability for policy and contract claims	  	 	10,780	 	  	 	10,586	 	 	 	10,448	 	 	 	10,295	 	 	 	9,762	 	
Unearned premiums	  	 	1,863	 	  	 	1,917	 	 	 	1,964	 	 	 	2,013	 	 	 	2,041	 	
Other liabilities	  	 	1,445	 	  	 	1,604	 	 	 	1,564	 	 	 	1,529	 	 	 	1,672	 	
Borrowings related to a securitization entity	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	20	 	
Non-recourse funding obligations	  	 	311	 	  	 	311	 	 	 	311	 	 	 	311	 	 	 	310	 	
Long-term borrowings	  	 	3,706	 	  	 	3,711	 	 	 	3,711	 	 	 	3,707	 	 	 	3,715	 	
Separate account liabilities	  	 	6,005	 	  	 	6,187	 	 	 	6,210	 	 	 	5,859	 	 	 	6,745	 	
Liabilities held for sale related to discontinued operations(1)	  	 	2,302	 	  	 	2,142	 	 	 	2,078	 	 	 	2,112	 	 	 	2,224	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities	  	 	89,508	 	  	 	88,714	 	 	 	87,306	 	 	 	86,734	 	 	 	87,500	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Equity:	  			 	  				 				 				 				
Common stock	  	 	1	 	  	 	1	 	 	 	1	 	 	 	1	 	 	 	1	 	
Additional paid-in capital	  	 	11,986	 	  	 	11,983	 	 	 	11,989	 	 	 	11,987	 	 	 	11,983	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Accumulated other comprehensive income (loss):	  			 	  				 				 				 				
Net unrealized investment gains (losses):	  			 	  				 				 				 				
Net unrealized gains (losses) on securities not other-than-temporarily impaired	  	 	1,664	 	  	 	1,294	 	 	 	932	 	 	 	585	 	 	 	598	 	
Net unrealized gains (losses) on other-than-temporarily impaired securities	  	 	11	 	  	 	11	 	 	 	11	 	 	 	10	 	 	 	10	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net unrealized investment gains (losses)	  	 	1,675	 	  	 	1,305	 	 	 	943	 	 	 	595	 	 	 	608	 	
Derivatives qualifying as hedges	  	 	2,259	 	  	 	1,983	 	 	 	1,850	 	 	 	1,781	 	 	 	1,717	 	
Foreign currency translation and other adjustments	  	 	(312	) 	  	 	(275	) 	 	 	(301	) 	 	 	(332	) 	 	 	(258	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total accumulated other comprehensive income	  	 	3,622	 	  	 	3,013	 	 	 	2,492	 	 	 	2,044	 	 	 	2,067	 	
Retained earnings	  	 	1,478	 	  	 	1,460	 	 	 	1,292	 	 	 	1,118	 	 	 	1,447	 	
Treasury stock, at cost	  	 	(2,700	) 	  	 	(2,700	) 	 	 	(2,700	) 	 	 	(2,700	) 	 	 	(2,700	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.'s stockholders' equity	  	 	14,387	 	  	 	13,757	 	 	 	13,074	 	 	 	12,450	 	 	 	12,798	 	
Noncontrolling interests	  	 	1,758	 	  	 	1,835	 	 	 	1,808	 	 	 	1,739	 	 	 	1,823	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total equity	  	 	16,145	 	  	 	15,592	 	 	 	14,882	 	 	 	14,189	 	 	 	14,621	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	105,653	 	  	$	104,306	 	 	$	102,188	 	 	$	100,923	 	 	$	102,121	 	

	  				  				 				 				 				
 
(1)  The liabilities held for sale related to discontinued operations have been segregated in the consolidated balance sheets. The major liability categories for discontinued operations were as follows:
 	 	
  	  	September 30,
2019	 	  	June 30,
2019	 	 	March 31,
2019	 	 	December 31,
2018	 	 	September 30,
2018	 	
LIABILITIES	  				  				 				 				 				
Liability for policy and contract claims	  	$	95	 	  	$	91	 	 	$	88	 	 	$	84	 	 	$	82	 	
Unearned premiums	  	 	1,588	 	  	 	1,571	 	 	 	1,518	 	 	 	1,533	 	 	 	1,627	 	
Other liabilities	  	 	264	 	  	 	121	 	 	 	119	 	 	 	154	 	 	 	161	 	
Long-term borrowings	  	 	329	 	  	 	333	 	 	 	324	 	 	 	318	 	 	 	336	 	
Deferred tax liability	  	 	26	 	  	 	26	 	 	 	29	 	 	 	23	 	 	 	18	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Liabilities held for sale related to discontinued operations	  	$	2,302	 	  	$	2,142	 	 	$	2,078	 	 	$	2,112	 	 	$	2,224	 	

 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Consolidated Balance Sheet by Segment
(amounts in millions)

 	  	September 30, 2019	 	
 	  	U.S.
Mortgage
Insurance	 	  	Australia
Mortgage
Insurance	 	  	U.S. Life
Insurance	 	 	Runoff	 	  	Corporate and
Other(1)	 	 	Total	 	
ASSETS	  				  				  				 				  				 				
Cash and investments	  	$	3,995	 	  	$	2,179	 	  	$	64,213	 	 	$	3,004	 	  	$	1,148	 	 	$	74,539	 	
Deferred acquisition costs and intangible assets	  	 	49	 	  	 	58	 	  	 	1,809	 	 	 	165	 	  	 	10	 	 	 	2,091	 	
Reinsurance recoverable	  	 	—  	 	  	 	—  	 	  	 	16,450	 	 	 	730	 	  	 	—  	 	 	 	17,180	 	
Deferred tax and other assets	  	 	95	 	  	 	153	 	  	 	(94	) 	 	 	27	 	  	 	534	 	 	 	715	 	
Separate account assets	  	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	6,005	 	  	 	—  	 	 	 	6,005	 	
Assets held for sale related to discontinued operations	  	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	5,123	 	 	 	5,123	 	
	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Total assets	  	$	4,139	 	  	$	2,390	 	  	$	82,378	 	 	$	9,931	 	  	$	6,815	 	 	$	105,653	 	
	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
LIABILITIES AND EQUITY	  				  				  				 				  				 				
Liabilities:	  				  				  				 				  				 				
Future policy benefits	  	$	—  	 	  	$	—  	 	  	$	40,487	 	 	$	2	 	  	$	—  	 	 	$	40,489	 	
Policyholder account balances	  	 	—  	 	  	 	—  	 	  	 	19,293	 	 	 	3,314	 	  	 	—  	 	 	 	22,607	 	
Liability for policy and contract claims	  	 	247	 	  	 	204	 	  	 	10,311	 	 	 	10	 	  	 	8	 	 	 	10,780	 	
Unearned premiums	  	 	413	 	  	 	949	 	  	 	497	 	 	 	4	 	  	 	—  	 	 	 	1,863	 	
Non-recourse funding obligations	  	 	—  	 	  	 	—  	 	  	 	311	 	 	 	—  	 	  	 	—  	 	 	 	311	 	
Other liabilities	  	 	78	 	  	 	199	 	  	 	564	 	 	 	43	 	  	 	561	 	 	 	1,445	 	
Borrowings and capital securities	  	 	—  	 	  	 	135	 	  	 	—  	 	 	 	—  	 	  	 	3,571	 	 	 	3,706	 	
Separate account liabilities	  	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	6,005	 	  	 	—  	 	 	 	6,005	 	
Liabilities held for sale related to discontinued operations	  	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	2,302	 	 	 	2,302	 	
	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Total liabilities	  	 	738	 	  	 	1,487	 	  	 	71,463	 	 	 	9,378	 	  	 	6,442	 	 	 	89,508	 	
	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Equity:	  				  				  				 				  				 				
Allocated equity, excluding accumulated other comprehensive income (loss)	  	 	3,307	 	  	 	419	 	  	 	7,192	 	 	 	537	 	  	 	(690	) 	 	 	10,765	 	
Allocated accumulated other comprehensive income (loss)	  	 	94	 	  	 	27	 	  	 	3,723	 	 	 	16	 	  	 	(238	) 	 	 	3,622	 	
	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.'s stockholders' equity	  	 	3,401	 	  	 	446	 	  	 	10,915	 	 	 	553	 	  	 	(928	) 	 	 	14,387	 	
Noncontrolling interests	  	 	—  	 	  	 	457	 	  	 	—  	 	 	 	—  	 	  	 	1,301	 	 	 	1,758	 	
	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Total equity	  	 	3,401	 	  	 	903	 	  	 	10,915	 	 	 	553	 	  	 	373	 	 	 	16,145	 	
	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	4,139	 	  	$	2,390	 	  	$	82,378	 	 	$	9,931	 	  	$	6,815	 	 	$	105,653	 	

(1)	Includes inter-segment eliminations and other businesses that are managed outside the operating segments, including discontinued operations.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Consolidated Balance Sheet by Segment
(amounts in millions)

 
																									
 	  	June 30, 2019	 	
 	  	U.S.
Mortgage
Insurance	 	  	Australia
Mortgage
Insurance	 	  	U.S. Life
Insurance	 	  	Runoff	 	  	Corporate and
Other(1)	 	 	Total	 	
ASSETS	  				  				  				  				  				 				
Cash and investments	  	$	3,846	 	  	$	2,303	 	  	$	62,499	 	  	$	2,896	 	  	$	1,010	 	 	$	72,554	 	
Deferred acquisition costs and intangible assets	  	 	50	 	  	 	65	 	  	 	1,911	 	  	 	173	 	  	 	10	 	 	 	2,209	 	
Reinsurance recoverable	  	 	—  	 	  	 	2	 	  	 	16,474	 	  	 	735	 	  	 	—  	 	 	 	17,211	 	
Deferred tax and other assets	  	 	81	 	  	 	154	 	  	 	118	 	  	 	27	 	  	 	519	 	 	 	899	 	
Separate account assets	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	6,187	 	  	 	—  	 	 	 	6,187	 	
Assets held for sale related to discontinued operations	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	5,246	 	 	 	5,246	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total assets	  	$	3,977	 	  	$	2,524	 	  	$	81,002	 	  	$	10,018	 	  	$	6,785	 	 	$	104,306	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
LIABILITIES AND EQUITY	  				  				  				  				  				 				
Liabilities:	  				  				  				  				  				 				
Future policy benefits	  	$	—  	 	  	$	—  	 	  	$	39,581	 	  	$	2	 	  	$	—  	 	 	$	39,583	 	
Policyholder account balances	  	 	—  	 	  	 	—  	 	  	 	19,434	 	  	 	3,239	 	  	 	—  	 	 	 	22,673	 	
Liability for policy and contract claims	  	 	254	 	  	 	209	 	  	 	10,102	 	  	 	13	 	  	 	8	 	 	 	10,586	 	
Unearned premiums	  	 	419	 	  	 	997	 	  	 	497	 	  	 	4	 	  	 	—  	 	 	 	1,917	 	
Non-recourse funding obligations	  	 	—  	 	  	 	—  	 	  	 	311	 	  	 	—  	 	  	 	—  	 	 	 	311	 	
Other liabilities	  	 	79	 	  	 	185	 	  	 	560	 	  	 	52	 	  	 	728	 	 	 	1,604	 	
Borrowings and capital securities	  	 	—  	 	  	 	140	 	  	 	—  	 	  	 	—  	 	  	 	3,571	 	 	 	3,711	 	
Separate account liabilities	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	6,187	 	  	 	—  	 	 	 	6,187	 	
Liabilities held for sale related to discontinued operations	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	2,142	 	 	 	2,142	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total liabilities	  	 	752	 	  	 	1,531	 	  	 	70,485	 	  	 	9,497	 	  	 	6,449	 	 	 	88,714	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Equity:	  				  				  				  				  				 				
Allocated equity, excluding accumulated other comprehensive income (loss)	  	 	3,148	 	  	 	453	 	  	 	7,419	 	  	 	515	 	  	 	(791	) 	 	 	10,744	 	
Allocated accumulated other comprehensive income (loss)	  	 	77	 	  	 	40	 	  	 	3,098	 	  	 	6	 	  	 	(208	) 	 	 	3,013	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.'s stockholders' equity	  	 	3,225	 	  	 	493	 	  	 	10,517	 	  	 	521	 	  	 	(999	) 	 	 	13,757	 	
Noncontrolling interests	  	 	—  	 	  	 	500	 	  	 	—  	 	  	 	—  	 	  	 	1,335	 	 	 	1,835	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total equity	  	 	3,225	 	  	 	993	 	  	 	10,517	 	  	 	521	 	  	 	336	 	 	 	15,592	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	3,977	 	  	$	2,524	 	  	$	81,002	 	  	$	10,018	 	  	$	6,785	 	 	$	104,306	 	

(1) 	Includes inter-segment eliminations and other businesses that are managed outside the operating segments, including discontinued operations.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Deferred Acquisition Costs Rollforward
(amounts in millions)

 	  	U.S.
Mortgage
Insurance	 	  	Australia
Mortgage
Insurance	 	  	U.S. Life
Insurance	 	  	Runoff	 	  	Total	 	
Unamortized balance as of June 30, 2019	  	$	28	 	  	$	37	 	  	$	3,260	 	  	$	184	 	  	$	3,509	 	
Costs deferred	  	 	3	 	  	 	3	 	  	 	—  	 	  	 	—  	 	  	 	6	 	
Amortization, net of interest accretion	  	 	(2	) 	  	 	(2	) 	  	 	(82	) 	  	 	(9	) 	  	 	(95	) 	
Impact of foreign currency translation	  	 	—  	 	  	 	(2	) 	  	 	—  	 	  	 	—  	 	  	 	(2	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Unamortized balance as of September 30, 2019	  	 	29	 	  	 	36	 	  	 	3,178	 	  	 	175	 	  	 	3,418	 	
Effect of accumulated net unrealized investment (gains) losses	  	 	—  	 	  	 	—  	 	  	 	(1,519	) 	  	 	(18	) 	  	 	(1,537	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Balance as of September 30, 2019	  	$	29	 	  	$	36	 	  	$	1,659	 	  	$	157	 	  	$	1,881	 	

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U.S. Mortgage Insurance Segment

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Adjusted Operating Income and Sales—U.S. Mortgage Insurance Segment
(amounts in millions)

 	 	2019	 	 	2018	 	
 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	 			 	 				 				 				 				 				 				 				 				
Premiums	 	$	219	 	 	$	206	 	 	$	194	 	 	$	619	 	 	$	193	 	 	$	190	 	 	$	184	 	 	$	179	 	 	$	746	 	
Net investment income	 	 	31	 	 	 	28	 	 	 	28	 	 	 	87	 	 	 	26	 	 	 	23	 	 	 	23	 	 	 	21	 	 	 	93	 	
Net investment gains (losses)	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Policy fees and other income	 	 	1	 	 	 	1	 	 	 	1	 	 	 	3	 	 	 	—  	 	 	 	1	 	 	 	1	 	 	 	—  	 	 	 	2	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	 	 	251	 	 	 	235	 	 	 	223	 	 	 	709	 	 	 	219	 	 	 	214	 	 	 	208	 	 	 	200	 	 	 	841	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	 			 	 				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	 	 	23	 	 	 	—  	 	 	 	16	 	 	 	39	 	 	 	14	 	 	 	20	 	 	 	(14	) 	 	 	16	 	 	 	15,800	 	
Acquisition and operating expenses, net of deferrals	 	 	51	 	 	 	44	 	 	 	46	 	 	 	141	 	 	 	44	 	 	 	41	 	 	 	45	 	 	 	39	 	 	 	169	 	
Amortization of deferred acquisition costs and intangibles	 	 	3	 	 	 	4	 	 	 	4	 	 	 	11	 	 	 	3	 	 	 	4	 	 	 	3	 	 	 	4	 	 	 	14	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	 	 	77	 	 	 	48	 	 	 	66	 	 	 	191	 	 	 	61	 	 	 	65	 	 	 	34	 	 	 	59	 	 	 	219	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	 	 	174	 	 	 	187	 	 	 	157	 	 	 	518	 	 	 	158	 	 	 	149	 	 	 	174	 	 	 	141	 	 	 	622	 	
Provision for income taxes	 	 	37	 	 	 	40	 	 	 	33	 	 	 	110	 	 	 	34	 	 	 	31	 	 	 	37	 	 	 	30	 	 	 	132	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS	 	 	137	 	 	 	147	 	 	 	124	 	 	 	408	 	 	 	124	 	 	 	118	 	 	 	137	 	 	 	111	 	 	 	490	 	
	 									
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS:	 			 	 				 				 				 				 				 				 				 				
Net investment (gains) losses	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Taxes on adjustments	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME	 	$	137	 	 	$	147	 	 	$	124	 	 	$	408	 	 	$	124	 	 	$	118	 	 	$	137	 	 	$	111	 	 	$	490	 	

SALES:	 				 				 				 				 				 				 				 				 				
Flow New Insurance Written (NIW)	 	$	18,900	 	 	$	15,800	 	 	$	9,600	 	 	$	44,300	 	 	$	9,300	 	 	$	10,300	 	 	$	11,400	 	 	$	9,000	 	 	$	40,000	 	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
Flow New Insurance Written Metrics—U.S. Mortgage Insurance Segment
(amounts in millions)

 	 	2019	 	 	2018	 	
 	 	3Q	 	  	2Q	 	 	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	
 	 	Flow
NIW	 	 	% of
Flow
NIW	 	  	Flow
NIW	 	  	% of
Flow
NIW	 	 	Flow
NIW	 	  	% of
Flow
NIW	 	 	Flow
NIW	 	  	% of
Flow
NIW	 	 	Flow
NIW	 	  	% of
Flow
NIW	 	 	Flow
NIW	 	  	% of
Flow
NIW	 	 	Flow
NIW	 	  	% of
Flow
NIW	 	
Product	 				 			 	  				  				 				  				 				  				 				  				 				  				 				  				
Monthly(1)	 	$	16,800	 	 	 	89	% 	  	$	13,900	 	  	 	88	% 	 	$	8,400	 	  	 	87	% 	 	$	7,900	 	  	 	85	% 	 	$	8,400	 	  	 	82	% 	 	$	9,700	 	  	 	85	% 	 	$	7,300	 	  	 	81	% 	
Single	 	 	2,100	 	 	 	11	 	  	 	1,900	 	  	 	12	 	 	 	1,200	 	  	 	13	 	 	 	1,400	 	  	 	15	 	 	 	1,900	 	  	 	18	 	 	 	1,700	 	  	 	15	 	 	 	1,700	 	  	 	19	 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	 	$	18,900	 	 	 	100	% 	  	$	15,800	 	  	 	100	% 	 	$	9,600	 	  	 	100	% 	 	$	9,300	 	  	 	100	% 	 	$	10,300	 	  	 	100	% 	 	$	11,400	 	  	 	100	% 	 	$	9,000	 	  	 	100	% 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
FICO Scores	 				 			 	  				  				 				  				 				  				 				  				 				  				 				  				
Over 735	 	$	11,300	 	 	 	60	% 	  	$	9,200	 	  	 	58	% 	 	$	5,500	 	  	 	57	% 	 	$	5,200	 	  	 	56	% 	 	$	6,000	 	  	 	58	% 	 	$	6,900	 	  	 	60	% 	 	$	5,300	 	  	 	59	% 	
680-735	 	 	6,300	 	 	 	33	 	  	 	5,500	 	  	 	35	 	 	 	3,300	 	  	 	35	 	 	 	3,200	 	  	 	35	 	 	 	3,300	 	  	 	32	 	 	 	3,700	 	  	 	32	 	 	 	3,000	 	  	 	33	 	
660-679(2)	 	 	700	 	 	 	4	 	  	 	600	 	  	 	4	 	 	 	400	 	  	 	4	 	 	 	500	 	  	 	5	 	 	 	500	 	  	 	5	 	 	 	400	 	  	 	4	 	 	 	400	 	  	 	5	 	
620-659	 	 	600	 	 	 	3	 	  	 	500	 	  	 	3	 	 	 	400	 	  	 	4	 	 	 	400	 	  	 	4	 	 	 	500	 	  	 	5	 	 	 	400	 	  	 	4	 	 	 	300	 	  	 	3	 	
<620	 	 	—  	 	 	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	 	$	18,900	 	 	 	100	% 	  	$	15,800	 	  	 	100	% 	 	$	9,600	 	  	 	100	% 	 	$	9,300	 	  	 	100	% 	 	$	10,300	 	  	 	100	% 	 	$	11,400	 	  	 	100	% 	 	$	9,000	 	  	 	100	% 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Loan-To-Value Ratio	 				 			 	  				  				 				  				 				  				 				  				 				  				 				  				
95.01% and above	 	$	2,900	 	 	 	16	% 	  	$	2,900	 	  	 	18	% 	 	$	1,800	 	  	 	19	% 	 	$	2,000	 	  	 	21	% 	 	$	2,000	 	  	 	19	% 	 	$	2,400	 	  	 	21	% 	 	$	1,600	 	  	 	18	% 	
90.01% to 95.00%	 	 	8,000	 	 	 	42	 	  	 	6,900	 	  	 	44	 	 	 	4,200	 	  	 	44	 	 	 	4,000	 	  	 	43	 	 	 	4,500	 	  	 	44	 	 	 	4,900	 	  	 	43	 	 	 	3,900	 	  	 	43	 	
85.01% to 90.00%	 	 	5,500	 	 	 	29	 	  	 	4,300	 	  	 	27	 	 	 	2,500	 	  	 	26	 	 	 	2,300	 	  	 	25	 	 	 	2,800	 	  	 	27	 	 	 	2,900	 	  	 	25	 	 	 	2,500	 	  	 	28	 	
85.00% and below	 	 	2,500	 	 	 	13	 	  	 	1,700	 	  	 	11	 	 	 	1,100	 	  	 	11	 	 	 	1,000	 	  	 	11	 	 	 	1,000	 	  	 	10	 	 	 	1,200	 	  	 	11	 	 	 	1,000	 	  	 	11	 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	 	$	18,900	 	 	 	100	% 	  	$	15,800	 	  	 	100	% 	 	$	9,600	 	  	 	100	% 	 	$	9,300	 	  	 	100	% 	 	$	10,300	 	  	 	100	% 	 	$	11,400	 	  	 	100	% 	 	$	9,000	 	  	 	100	% 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Origination	 				 			 	  				  				 				  				 				  				 				  				 				  				 				  				
Purchase	 	$	14,900	 	 	 	79	% 	  	$	13,900	 	  	 	88	% 	 	$	8,600	 	  	 	90	% 	 	$	8,800	 	  	 	95	% 	 	$	9,800	 	  	 	95	% 	 	$	10,700	 	  	 	94	% 	 	$	8,000	 	  	 	89	% 	
Refinance	 	 	4,000	 	 	 	21	 	  	 	1,900	 	  	 	12	 	 	 	1,000	 	  	 	10	 	 	 	500	 	  	 	5	 	 	 	500	 	  	 	5	 	 	 	700	 	  	 	6	 	 	 	1,000	 	  	 	11	 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	 	$	18,900	 	 	 	100	% 	  	$	15,800	 	  	 	100	% 	 	$	9,600	 	  	 	100	% 	 	$	9,300	 	  	 	100	% 	 	$	10,300	 	  	 	100	% 	 	$	11,400	 	  	 	100	% 	 	$	9,000	 	  	 	100	% 	

 

(1) 	Includes loans with annual and split payment types.	
(2) 	Loans with unknown FICO scores are included in the 660-679 category.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Other Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net Premiums Written	  	$	213	 	 	$	204	 	 	$	193	 	 	$	610	 	 	$	192	 	 	$	195	 	 	$	191	 	 	$	185	 	 	$	763	 	
	 									
Flow New Risk Written	  	$	4,647	 	 	$	3,931	 	 	$	2,403	 	 	$	10,981	 	 	$	2,300	 	 	$	2,559	 	 	$	2,866	 	 	$	2,247	 	 	$	9,972	 	
	 									
Primary Insurance In-Force(1)	  	$	186,300	 	 	$	178,500	 	 	$	170,400	 	 				 	$	166,700	 	 	$	163,200	 	 	$	159,500	 	 	$	154,900	 	 				
	 									
Risk In-Force	  			 	 				 				 				 				 				 				 				 				
Flow(2)	  	$	44,885	 	 	$	42,917	 	 	$	41,020	 	 				 	$	40,115	 	 	$	39,304	 	 	$	38,433	 	 	$	37,252	 	 				
Bulk(3)	  	 	160	 	 	 	167	 	 	 	173	 	 				 	 	178	 	 	 	188	 	 	 	195	 	 	 	202	 	 				
	  	 	 	 	 	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Primary	  	 	45,045	 	 	 	43,084	 	 	 	41,193	 	 				 	 	40,293	 	 	 	39,492	 	 	 	38,628	 	 	 	37,454	 	 				
Pool	  	 	59	 	 	 	62	 	 	 	66	 	 				 	 	69	 	 	 	72	 	 	 	75	 	 	 	80	 	 				
	  	 	 	 	 	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Risk In-Force	  	$	45,104	 	 	$	43,146	 	 	$	41,259	 	 				 	$	40,362	 	 	$	39,564	 	 	$	38,703	 	 	$	37,534	 	 				

Primary Risk In-Force That Is GSE Conforming	  	 	93	% 	 	 	93	% 	 	 	93	% 	 				 	 	94	% 	 	 	94	% 	 	 	94	% 	 	 	94	% 	 				
	 									
Expense Ratio (Net Earned Premiums)(4)	  	 	24	% 	 	 	24	% 	 	 	25	% 	 	 	24	% 	 	 	24	% 	 	 	23	% 	 	 	26	% 	 	 	24	% 	 	 	25	% 	
	 									
Expense Ratio (Net Premiums Written)(5)	  	 	25	% 	 	 	24	% 	 	 	26	% 	 	 	25	% 	 	 	25	% 	 	 	23	% 	 	 	25	% 	 	 	23	% 	 	 	24	% 	
	 									
Flow Persistency	  	 	75	% 	 	 	82	% 	 	 	86	% 	 				 	 	86	% 	 	 	84	% 	 	 	83	% 	 	 	84	% 	 				
	 									
Risk To Capital Ratio(6)	  	 	11.9:1	 	 	 	11.8:1	 	 	 	11.9:1	 	 				 	 	12.2:1	 	 	 	12.3:1	 	 	 	12.6:1	 	 	 	12.5:1	 	 				
	 									
PMIERs Sufficiency Ratio(7)	  	 	129	% 	 	 	123	% 	 	 	123	% 	 				 	 	129	% 	 	 	130	% 	 	 	129	% 	 	 	124	% 	 				
	 									
Average Primary Loan Size (in thousands)	  	$	221	 	 	$	218	 	 	$	215	 	 				 	$	213	 	 	$	211	 	 	$	209	 	 	$	207	 	 				
The expense ratios included above were calculated using whole dollars and may be different than the ratios calculated using the rounded numbers included herein.

(1) 	Primary insurance in-force represents aggregate loan balances for outstanding insurance policies and is used to determine premiums. Original loan balances are presented for policies with level renewal premiums. Amortized loan balances are presented for policies with annual, amortizing renewal premiums.	
(2) 	Flow risk in-force represents current loan balances as provided by servicers, lenders and investors and conforms to the presentation under the Private Mortgage Insurer Eligibility Requirements (PMIERs).	
(3) 	As of September 30, 2019, 88% of the bulk risk in-force was related to loans financed by lenders who participated in the mortgage programs sponsored by the Federal Home Loan Banks.	
(4) 	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.	
(5) 	The ratio of an insurer's general expenses to net premiums written. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.	
(6) 	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 U.S. mortgage insurance business.	
(7) 	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 for the U.S. mortgage insurance business. As of September 30, 2019, June 30, 2019 and March 31, 2019, the PMIERs sufficiency ratios were in excess of $850 million, $650 million and $600 million, respectively, of available assets above the PMIERs requirements. As of December 31, 2018, September 30, 2018, June 30, 2018 and March 31, 2018, the PMIERs sufficiency ratios were in excess of $750 million, $750 million, $700 million and $600 million, respectively, of available assets above the prior PMIERs requirements.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Loss Metrics—U.S. Mortgage Insurance Segment
(amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Paid claims	  			 	  				 				 				 				 				 				 				 				
Flow	  			 	  				 				 				 				 				 				 				 				
Direct	  	$	28	 	  	$	24	 	 	$	30	 	 	$	82	 	 	$	34	 	 	$	52	 	 	$	45	 	 	$	53	 	 	$	184	 	
Assumed(1)	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	 	 	1	 	
Ceded	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	 	 	(1	) 	
Loss adjustment expenses	  	 	1	 	  	 	2	 	 	 	2	 	 	 	5	 	 	 	—  	 	 	 	3	 	 	 	2	 	 	 	2	 	 	 	7	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Flow	  	 	29	 	  	 	26	 	 	 	32	 	 	 	87	 	 	 	34	 	 	 	55	 	 	 	47	 	 	 	55	 	 	 	191	 	
Bulk	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	1	 	 	 	2	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Primary	  	 	29	 	  	 	26	 	 	 	32	 	 	 	87	 	 	 	34	 	 	 	56	 	 	 	47	 	 	 	56	 	 	 	193	 	
Pool	  	 	1	 	  	 	—  	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	1	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	30	 	  	$	26	 	 	$	32	 	 	$	88	 	 	$	34	 	 	$	56	 	 	$	48	 	 	$	56	 	 	$	194	 	

Average Paid Claim (in thousands)	  	$	44.2	 	  	$	45.4	 	 	$	49.0	 	 				 	$	41.4	 	 	$	45.9	 	 	$	43.1	 	 	$	47.5	 	 				
	 									
Average Reserve Per Delinquency (in thousands)	  			 	  				 				 				 				 				 				 				 				
Flow	  	$	15.5	 	  	$	16.5	 	 	$	17.4	 	 				 	$	17.3	 	 	$	18.8	 	 	$	19.6	 	 	$	20.2	 	 				
Bulk loans with established reserve	  	$	13.3	 	  	$	14.1	 	 	$	13.8	 	 				 	$	14.6	 	 	$	17.6	 	 	$	18.4	 	 	$	17.6	 	 				
	 									
Reserves:	  			 	  				 				 				 				 				 				 				 				
Flow direct case	  	$	216	 	  	$	222	 	 	$	246	 	 				 	$	261	 	 	$	280	 	 	$	314	 	 	$	372	 	 				
Bulk direct case	  	 	4	 	  	 	4	 	 	 	4	 	 				 	 	5	 	 	 	7	 	 	 	8	 	 	 	8	 	 				
Assumed(1)	  	 	1	 	  	 	1	 	 	 	1	 	 				 	 	2	 	 	 	2	 	 	 	2	 	 	 	2	 	 				
All other(2)	  	 	26	 	  	 	27	 	 	 	29	 	 				 	 	28	 	 	 	28	 	 	 	28	 	 	 	33	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Reserves	  	$	247	 	  	$	254	 	 	$	280	 	 				 	$	296	 	 	$	317	 	 	$	352	 	 	$	415	 	 				

Beginning Reserves	  	$	254	 	  	$	280	 	 	$	296	 	 	$	296	 	 	$	317	 	 	$	352	 	 	$	415	 	 	$	455	 	 	$	455	 	
Paid claims	  	 	(30	) 	  	 	(26	) 	 	 	(32	) 	 	 	(88	) 	 	 	(34	) 	 	 	(56	) 	 	 	(48	) 	 	 	(57	) 	 	 	(195	) 	
Increase (decrease) in reserves	  	 	23	 	  	 	—  	 	 	 	16	 	 	 	39	 	 	 	13	 	 	 	21	 	 	 	(15	) 	 	 	17	 	 	 	36	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reserves	  	$	247	 	  	$	254	 	 	$	280	 	 	$	247	 	 	$	296	 	 	$	317	 	 	$	352	 	 	$	415	 	 	$	296	 	

Beginning Reinsurance Recoverable(3)	  	$	—  	 	  	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	1	 	 	$	1	 	
Ceded paid claims	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	 	 	(1	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reinsurance Recoverable	  	$	—  	 	  	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Loss Ratio(4)	  	 	11	% 	  	 	—  	% 	 	 	8	% 	 	 	6	% 	 	 	7	% 	 	 	11	% 	 	 	(8	)% 	 	 	9	% 	 	 	5	% 	
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) 	Assumed is comprised of reinsurance arrangements with state governmental housing finance agencies.	
(2) 	Other includes loss adjustment expenses, pool and incurred but not reported reserves.	
(3) 	Reinsurance recoverable excludes ceded unearned premium recoveries and amounts for which cash proceeds have not yet been received.	
(4) 	The ratio of benefits and other changes in policy reserves to net earned premiums. During the second quarter of 2019, the company recorded a favorable reserve adjustment of $10 million, which reduced the loss ratio by five percentage points for the three months ended June 30, 2019. During the second quarter of 2018, the company recorded a favorable reserve adjustment of $28 million, which reduced the loss ratio by four percentage points for the twelve months ended December 31, 2018 and 15 percentage points for the three months ended June 30, 2018.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Delinquency Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	2019	 	 	2018	 		
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 		
Number of Primary Delinquencies	  			 	  				 				 				 				 				 				 				 					
Flow	  	 	15,575	 	  	 	15,070	 	 	 	15,764	 	 				 	 	16,670	 	 	 	16,367	 	 	 	17,505	 	 	 	20,007	 	 					
Bulk loans with an established reserve	  	 	375	 	  	 	347	 	 	 	360	 	 				 	 	403	 	 	 	415	 	 	 	445	 	 	 	494	 	 					
Bulk loans with no reserve(1)	  	 	55	 	  	 	65	 	 	 	82	 	 				 	 	86	 	 	 	92	 	 	 	101	 	 	 	101	 	 					
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 					
Total Number of Primary Delinquencies	  	 	16,005	 	  	 	15,482	 	 	 	16,206	 	 				 	 	17,159	 	 	 	16,874	 	 	 	18,051	 	 	 	20,602	 	 					

Beginning Number of Primary Delinquencies	  	 	15,482	 	  	 	16,206	 	 	 	17,159	 	 	 	17,159	 	 	 	16,874	 	 	 	18,051	 	 	 	20,602	 	 	 	23,188	 	 	 	23,188	 		
New delinquencies	  	 	8,650	 	  	 	7,705	 	 	 	8,539	 	 	 	24,894	 	 	 	8,719	 	 	 	7,884	 	 	 	7,049	 	 	 	8,409	 	 	 	32,061	 		
Delinquency cures	  	 	(7,451	) 	  	 	(7,872	) 	 	 	(8,835	) 	 	 	(24,158	) 	 	 	(7,601	) 	 	 	(7,857	) 	 	 	(8,488	) 	 	 	(9,840	) 	 	 	(33,786	) 		
Paid claims	  	 	(676	) 	  	 	(557	) 	 	 	(657	) 	 	 	(1,890	) 	 	 	(833	) 	 	 	(1,204	) 	 	 	(1,112	) 	 	 	(1,155	) 	 	 	(4,304	) 		
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
Ending Number of Primary Delinquencies	  	 	16,005	 	  	 	15,482	 	 	 	16,206	 	 	 	16,005	 	 	 	17,159	 	 	 	16,874	 	 	 	18,051	 	 	 	20,602	 	 	 	17,159	 		
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
Composition of Cures	  			 	  				 				 				 				 				 				 				 					
Reported delinquent and cured-intraquarter	  	 	1,803	 	  	 	1,621	 	 	 	2,342	 	 				 	 	1,767	 	 	 	1,651	 	 	 	1,514	 	 	 	2,288	 	 					
Number of missed payments delinquent prior to cure:	  			 	  				 				 				 				 				 				 				 					
3 payments or less	  	 	4,280	 	  	 	4,567	 	 	 	4,862	 	 				 	 	4,131	 	 	 	3,951	 	 	 	4,568	 	 	 	5,413	 	 					
4 - 11 payments	  	 	1,132	 	  	 	1,434	 	 	 	1,345	 	 				 	 	1,382	 	 	 	1,943	 	 	 	2,070	 	 	 	1,719	 	 					
12 payments or more	  	 	236	 	  	 	250	 	 	 	286	 	 				 	 	321	 	 	 	312	 	 	 	336	 	 	 	420	 	 					
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 					
Total	  	 	7,451	 	  	 	7,872	 	 	 	8,835	 	 				 	 	7,601	 	 	 	7,857	 	 	 	8,488	 	 	 	9,840	 	 					
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 					
Primary Delinquencies by Missed Payment Status	  			 	  				 				 				 				 				 				 				 					
3 payments or less	  	 	8,398	 	  	 	7,807	 	 	 	7,873	 	 				 	 	8,578	 	 	 	7,853	 	 	 	7,539	 	 	 	8,335	 	 					
4 - 11 payments	  	 	4,411	 	  	 	4,243	 	 	 	4,755	 	 				 	 	4,689	 	 	 	4,745	 	 	 	5,657	 	 	 	6,875	 	 					
12 payments or more	  	 	3,196	 	  	 	3,432	 	 	 	3,578	 	 				 	 	3,892	 	 	 	4,276	 	 	 	4,855	 	 	 	5,392	 	 					
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 					
Primary Delinquencies	  	 	16,005	 	  	 	15,482	 	 	 	16,206	 	 				 	 	17,159	 	 	 	16,874	 	 	 	18,051	 	 	 	20,602	 	 					

								
 	  	September 30, 2019	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
Flow Delinquencies and Percentage	
Reserved by Payment Status	  	Delinquencies	 	  	Direct Case
Reserves(2)	 	 	Risk In-Force	 	 	Reserves as % of
Risk In-Force	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
3 payments or less in default	  	 	8,201	 	  	$	29	 	 	$	369	 	 	 	8	% 	 				 				 				 				 					
4 - 11 payments in default	  	 	4,319	 	  	 	76	 	 	 	199	 	 	 	38	% 	 				 				 				 				 					
12 payments or more in default	  	 	3,055	 	  	 	111	 	 	 	155	 	 	 	72	% 	 				 				 				 				 					
	  	 	 	 	  	 	 	 	 	 	 	 	 				 				 				 				 				 					
Total	  	 	15,575	 	  	$	216	 	 	$	723	 	 	 	30	% 	 				 				 				 				 					

 	  	December 31, 2018	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		
Flow Delinquencies and Percentage	
Reserved by Payment Status	  	Delinquencies	 	  	Direct Case
Reserves(2)	 	 	Risk In-Force	 	 	Reserves as % of
Risk In-Force	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
3 payments or less in default	  	 	8,360	 	  	$	31	 	 	$	365	 	 	 	8	% 	 				 				 				 				 					
4 - 11 payments in default	  	 	4,591	 	  	 	88	 	 	 	208	 	 	 	42	% 	 				 				 				 				 					
12 payments or more in default	  	 	3,719	 	  	 	142	 	 	 	188	 	 	 	76	% 	 				 				 				 				 					
	  	 	 	 	  	 	 	 	 	 	 	 	 				 				 				 				 				 					
Total	  	 	16,670	 	  	$	261	 	 	$	761	 	 	 	34	% 	 				 				 				 				 					

(1) 	Reserves were not established on loans where the company was in a secondary loss position due to an existing deductible and the company believes they currently have no risk for claim.	
(2) 	Direct flow case reserves exclude loss adjustment expenses, incurred but not reported and reinsurance reserves.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Portfolio Quality Metrics—U.S. Mortgage Insurance Segment

 	  	2019	 	 	2018	 	
 	  	3Q	 	 	2Q	 	 	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	
Primary Loans	  			 	 				 				 				 				 				 				
Primary loans in-force	  	 	842,692	 	 	 	818,358	 	 	 	792,800	 	 	 	783,288	 	 	 	773,290	 	 	 	762,727	 	 	 	749,145	 	
Primary delinquent loans	  	 	16,005	 	 	 	15,482	 	 	 	16,206	 	 	 	17,159	 	 	 	16,874	 	 	 	18,051	 	 	 	20,602	 	
Primary delinquency rate	  	 	1.90	% 	 	 	1.89	% 	 	 	2.04	% 	 	 	2.19	% 	 	 	2.18	% 	 	 	2.37	% 	 	 	2.75	% 	
	 							
Flow loans in-force	  	 	831,586	 	 	 	806,739	 	 	 	780,733	 	 	 	770,657	 	 	 	759,965	 	 	 	748,497	 	 	 	734,411	 	
Flow delinquent loans	  	 	15,575	 	 	 	15,070	 	 	 	15,764	 	 	 	16,670	 	 	 	16,367	 	 	 	17,505	 	 	 	20,007	 	
Flow delinquency rate	  	 	1.87	% 	 	 	1.87	% 	 	 	2.02	% 	 	 	2.16	% 	 	 	2.15	% 	 	 	2.34	% 	 	 	2.72	% 	
	 							
Bulk loans in-force	  	 	11,106	 	 	 	11,619	 	 	 	12,067	 	 	 	12,631	 	 	 	13,325	 	 	 	14,230	 	 	 	14,734	 	
Bulk delinquent loans	  	 	430	 	 	 	412	 	 	 	442	 	 	 	489	 	 	 	507	 	 	 	546	 	 	 	595	 	
Bulk delinquency rate	  	 	3.87	% 	 	 	3.55	% 	 	 	3.66	% 	 	 	3.87	% 	 	 	3.80	% 	 	 	3.84	% 	 	 	4.04	% 	
	 							
A minus and sub-prime loans in-force	  	 	13,450	 	 	 	14,180	 	 	 	14,712	 	 	 	15,348	 	 	 	16,087	 	 	 	16,928	 	 	 	17,964	 	
A minus and sub-prime delinquent loans	  	 	2,339	 	 	 	2,367	 	 	 	2,530	 	 	 	2,727	 	 	 	2,817	 	 	 	3,058	 	 	 	3,557	 	
A minus and sub-prime delinquency rate	  	 	17.39	% 	 	 	16.69	% 	 	 	17.20	% 	 	 	17.77	% 	 	 	17.51	% 	 	 	18.06	% 	 	 	19.80	% 	
	 							
Pool Loans	  			 	 				 				 				 				 				 				
Pool loans in-force	  	 	4,261	 	 	 	4,331	 	 	 	4,470	 	 	 	4,535	 	 	 	4,636	 	 	 	4,774	 	 	 	4,961	 	
Pool delinquent loans	  	 	168	 	 	 	177	 	 	 	187	 	 	 	220	 	 	 	215	 	 	 	204	 	 	 	220	 	
Pool delinquency rate	  	 	3.94	% 	 	 	4.09	% 	 	 	4.18	% 	 	 	4.85	% 	 	 	4.64	% 	 	 	4.27	% 	 	 	4.43	% 	
	 							
Primary Risk In-Force by Credit Quality	  			 	 				 				 				 				 				 				
Over 735	  	 	57	% 	 	 	57	% 	 	 	57	% 	 	 	57	% 	 	 	57	% 	 	 	57	% 	 	 	57	% 	
680-735	  	 	33	% 	 	 	32	% 	 	 	32	% 	 	 	32	% 	 	 	32	% 	 	 	32	% 	 	 	32	% 	
660-679(1)	  	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	
620-659	  	 	4	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	5	% 	
<620	  	 	1	% 	 	 	1	% 	 	 	1	% 	 	 	1	% 	 	 	1	% 	 	 	1	% 	 	 	1	% 	

(1)	Loans with unknown FICO scores are included in the 660-679 category.	
 
21

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Portfolio Quality Metrics—U.S. Mortgage Insurance Segment
(amounts in millions)

 	  	September 30, 2019	 		
	Policy Year	  	Average
 Rate(1)	 	 	% of Total
 Reserves(2)	 	 	Primary Insurance
In-Force	 	  	% of Total	 	 	Primary Risk
In-Force	 	  	% of Total	 	 	Delinquency
Rate	 	
2004 and prior	  	 	6.12	% 	 	 	8.0	% 	 	$	1,436	 	  	 	0.8	% 	 	$	271	 	  	 	0.6	% 	 	 	11.27	% 		
2005 to 2008	  	 	5.47	% 	 	 	54.6	 	 	 	16,534	 	  	 	8.9	 	 	 	3,797	 	  	 	8.4	 	 	 	8.17	% 		
2009 to 2012	  	 	4.29	% 	 	 	2.3	 	 	 	3,525	 	  	 	1.9	 	 	 	813	 	  	 	1.8	 	 	 	1.92	% 		
2013	  	 	4.29	% 	 	 	2.0	 	 	 	4,276	 	  	 	2.3	 	 	 	1,043	 	  	 	2.3	 	 	 	1.60	% 		
2014	  	 	4.12	% 	 	 	4.1	 	 	 	7,630	 	  	 	4.1	 	 	 	1,854	 	  	 	4.1	 	 	 	1.80	% 		
2015	  	 	4.45	% 	 	 	6.2	 	 	 	15,529	 	  	 	8.3	 	 	 	3,753	 	  	 	8.4	 	 	 	1.40	% 		
2016	  	 	4.15	% 	 	 	7.9	 	 	 	28,607	 	  	 	15.3	 	 	 	6,894	 	  	 	15.3	 	 	 	1.08	% 		
2017	  	 	3.89	% 	 	 	8.5	 	 	 	31,414	 	  	 	16.9	 	 	 	7,634	 	  	 	17.0	 	 	 	1.08	% 		
2018	  	 	4.25	% 	 	 	5.6	 	 	 	34,328	 	  	 	18.4	 	 	 	8,388	 	  	 	18.6	 	 	 	0.76	% 		
2019	  	 	4.77	% 	 	 	0.8	 	 	 	42,976	 	  	 	23.1	 	 	 	10,598	 	  	 	23.5	 	 	 	0.12	% 		
	  				 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 					
Total	  	 	4.41	% 	 	 	100.0	% 	 	$	186,255	 	  	 	100.0	% 	 	$	45,045	 	  	 	100.0	% 	 	 	1.90	% 		

 	  	September 30, 2019	 	 	June 30, 2019	 	 	September 30, 2018	 	 	 	 		
 	  	Primary Risk
In-Force	 	 	Primary
Delinquency
Rate	 	 	Primary Risk
In-Force	 	  	Primary
Delinquency
Rate	 	 	Primary Risk
In-Force	 	  	Primary
Delinquency
Rate	 	 	 	 		
Lender concentration (by original applicant)	  	$	45,045	 	 	 	1.90	% 	 	$	43,084	 	  	 	1.89	% 	 	$	39,492	 	  	 	2.18	% 	 					
Top 10 lenders	  	$	13,474	 	 	 	2.04	% 	 	$	12,597	 	  	 	2.11	% 	 	$	11,196	 	  	 	2.56	% 	 					
Top 20 lenders	  	$	17,647	 	 	 	1.88	% 	 	$	16,729	 	  	 	2.03	% 	 	$	15,005	 	  	 	2.51	% 	 					
									
Loan-to-value ratio	  				 				 				  				 				  				 					
95.01% and above	  	$	8,238	 	 	 	3.19	% 	 	$	7,837	 	  	 	3.16	% 	 	$	6,857	 	  	 	3.88	% 	 					
90.01% to 95.00%	  	 	23,314	 	 	 	1.53	% 	 	 	22,389	 	  	 	1.49	% 	 	 	20,527	 	  	 	1.62	% 	 					
80.01% to 90.00%	  	 	13,340	 	 	 	1.54	% 	 	 	12,699	 	  	 	1.59	% 	 	 	11,931	 	  	 	1.86	% 	 					
80.00% and below	  	 	153	 	 	 	2.42	% 	 	 	159	 	  	 	2.43	% 	 	 	177	 	  	 	2.73	% 	 					
	  	 	 	 	 				 	 	 	 	  				 	 	 	 	  				 					
Total	  	$	45,045	 	 	 	1.90	% 	 	$	43,084	 	  	 	1.89	% 	 	$	39,492	 	  	 	2.18	% 	 					
	  	 	 	 	 				 	 	 	 	  				 	 	 	 	  				 					
Loan grade	  				 				 				  				 				  				 					
Prime	  	$	44,572	 	 	 	1.65	% 	 	$	42,587	 	  	 	1.63	% 	 	$	38,930	 	  	 	1.86	% 	 					
A minus and sub-prime	  	 	473	 	 	 	17.39	% 	 	 	497	 	  	 	16.69	% 	 	 	562	 	  	 	17.51	% 	 					
	  	 	 	 	 				 	 	 	 	  				 	 	 	 	  				 					
Total	  	$	45,045	 	 	 	1.90	% 	 	$	43,084	 	  	 	1.89	% 	 	$	39,492	 	  	 	2.18	% 	 					

(1) 	Average Annual Mortgage Interest Rate.	
(2) 	Total reserves were $247 million as of September 30, 2019.	
 
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Australia Mortgage Insurance Segment

 
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Adjusted Operating Income and Sales—Australia Mortgage Insurance Segment
(amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				 				 				 				
Premiums	  	$	77	 	  	$	80	 	 	$	83	 	 	$	240	 	 	$	82	 	 	$	87	 	 	$	106	 	 	$	98	 	 	$	373	 	
Net investment income	  	 	13	 	  	 	15	 	 	 	16	 	 	 	44	 	 	 	15	 	 	 	17	 	 	 	18	 	 	 	17	 	 	 	67	 	
Net investment gains (losses)	  	 	(9	) 	  	 	1	 	 	 	12	 	 	 	4	 	 	 	(19	) 	 	 	1	 	 	 	12	 	 	 	(9	) 	 	 	(15	) 	
Policy fees and other income	  	 	1	 	  	 	—  	 	 	 	(1	) 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	1	 	 	 	2	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	82	 	  	 	96	 	 	 	110	 	 	 	288	 	 	 	79	 	 	 	105	 	 	 	136	 	 	 	107	 	 	 	427	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	28	 	  	 	26	 	 	 	28	 	 	 	82	 	 	 	24	 	 	 	27	 	 	 	29	 	 	 	30	 	 	 	110	 	
Acquisition and operating expenses, net of deferrals	  	 	17	 	  	 	17	 	 	 	17	 	 	 	51	 	 	 	16	 	 	 	15	 	 	 	17	 	 	 	17	 	 	 	65	 	
Amortization of deferred acquisition costs and intangibles	  	 	9	 	  	 	9	 	 	 	9	 	 	 	27	 	 	 	10	 	 	 	10	 	 	 	12	 	 	 	11	 	 	 	43	 	
Interest expense	  	 	2	 	  	 	2	 	 	 	2	 	 	 	6	 	 	 	2	 	 	 	3	 	 	 	2	 	 	 	2	 	 	 	9	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	56	 	  	 	54	 	 	 	56	 	 	 	166	 	 	 	52	 	 	 	55	 	 	 	60	 	 	 	60	 	 	 	227	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	26	 	  	 	42	 	 	 	54	 	 	 	122	 	 	 	27	 	 	 	50	 	 	 	76	 	 	 	47	 	 	 	200	 	
Provision for income taxes	  	 	8	 	  	 	13	 	 	 	16	 	 	 	37	 	 	 	8	 	 	 	15	 	 	 	23	 	 	 	14	 	 	 	60	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS	  	 	18	 	  	 	29	 	 	 	38	 	 	 	85	 	 	 	19	 	 	 	35	 	 	 	53	 	 	 	33	 	 	 	140	 	
Less: net income from continuing operations attributable to noncontrolling interests	  	 	10	 	  	 	15	 	 	 	20	 	 	 	45	 	 	 	8	 	 	 	18	 	 	 	27	 	 	 	17	 	 	 	70	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	 	8	 	  	 	14	 	 	 	18	 	 	 	40	 	 	 	11	 	 	 	17	 	 	 	26	 	 	 	16	 	 	 	70	 	
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	  			 	  				 				 				 				 				 				 				 				
Net investment (gains) losses, net(1)	  	 	5	 	  	 	(1	) 	 	 	(6	) 	 	 	(2	) 	 	 	10	 	 	 	—  	 	 	 	(6	) 	 	 	4	 	 	 	8	 	
Taxes on adjustments	  	 	(1	) 	  	 	—  	 	 	 	2	 	 	 	1	 	 	 	(3	) 	 	 	—  	 	 	 	2	 	 	 	(1	) 	 	 	(2	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME(2)	  	$	12	 	  	$	13	 	 	$	14	 	 	$	39	 	 	$	18	 	 	$	17	 	 	$	22	 	 	$	19	 	 	$	76	 	

										
SALES:	  				  				 				 				 				 				 				 				 				
New Insurance Written (NIW)	  				  				 				 				 				 				 				 				 				
Flow	  	$	4,600	 	  	$	3,700	 	 	$	3,400	 	 	$	11,700	 	 	$	4,000	 	 	$	3,800	 	 	$	3,700	 	 	$	3,400	 	 	$	14,900	 	
Bulk	  	 	—  	 	  	 	1,200	 	 	 	500	 	 	 	1,700	 	 	 	800	 	 	 	—  	 	 	 	900	 	 	 	—  	 	 	 	1,700	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Australia NIW(3),(4)	  	$	4,600	 	  	$	4,900	 	 	$	3,900	 	 	$	13,400	 	 	$	4,800	 	 	$	3,800	 	 	$	4,600	 	 	$	3,400	 	 	$	16,600	 	

 
(1)  Net investment (gains) losses were adjusted for the portion of net investment gains (losses) attributable to noncontrolling interests as reconciled below:	   	
										
Net investment (gains) losses, gross	  	$	9	 	  	$	(1	) 	 	$	(12	) 	 	$	(4	) 	 	$	19	 	 	$	(1	) 	 	$	(12	) 	 	$	9	 	 	$	15	 	
Adjustment for net investment gains (losses) attributable to noncontrolling interests	  	 	(4	) 	  	 	—  	 	 	 	6	 	 	 	2	 	 	 	(9	) 	 	 	1	 	 	 	6	 	 	 	(5	) 	 	 	(7	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment (gains) losses, net	  	$	5	 	  	$	(1	) 	 	$	(6	) 	 	$	(2	) 	 	$	10	 	 	$	—	 	 	$	(6	) 	 	$	4	 	 	$	8	 	

(2) 	Adjusted operating income for the Australian platform adjusted for foreign exchange as compared to the prior year period was $13 million and $43 million for the three and nine months ended September 30, 2019, respectively.	
(3) 	New insurance written for the Australian platform adjusted for foreign exchange as compared to the prior year period was $5,000 million and $14,600 million for the three and nine months ended September 30, 2019, respectively.	
(4) 	The business currently has structured insurance transactions with three lenders where it is in a secondary loss position. The new insurance written associated with these arrangements is excluded from these metrics.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Selected Key Performance Measures—Australia Mortgage Insurance Segment
(amounts in millions)

 	  	2019	 	 	2018	 		
 	  	3Q	 	  	2Q	 	 	1Q	 	 	  Total  	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 		
Net Premiums Written	  	$	70	 	  	$	58	 	 	$	52	 	 	$	180	 	 	$	70	 	 	$	56	 	 	$	56	 	 	$	60	 	 	$	242	 		
Loss Ratio(1)	  	 	36	% 	  	 	34	% 	 	 	34	% 	 	 	34	% 	 	 	29	% 	 	 	31	% 	 	 	28	% 	 	 	30	% 	 	 	30	% 		
Expense Ratio (Net Earned Premiums)(2)	  	 	34	% 	  	 	33	% 	 	 	31	% 	 	 	32	% 	 	 	32	% 	 	 	29	% 	 	 	27	% 	 	 	29	% 	 	 	29	% 		
Expense Ratio (Net Premiums Written)(3)	  	 	38	% 	  	 	44	% 	 	 	50	% 	 	 	43	% 	 	 	38	% 	 	 	46	% 	 	 	50	% 	 	 	47	% 	 	 	45	% 		
	 										
Primary Insurance In-Force(4)	  	$	206,400	 	  	$	215,600	 	 	$	219,200	 	 				 	$	218,200	 	 	$	222,500	 	 	$	229,400	 	 	$	246,300	 	 					
Primary Risk In-Force(4),(5)	  			 	  				 				 				 				 				 				 				 					
Flow	  	$	66,400	 	  	$	69,100	 	 	$	70,600	 	 				 	$	70,300	 	 	$	71,900	 	 	$	74,000	 	 	$	79,600	 	 					
Bulk	  	 	5,500	 	  	 	6,000	 	 	 	5,700	 	 				 	 	5,700	 	 	 	5,600	 	 	 	5,900	 	 	 	6,100	 	 					
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 					
Total	  	$	71,900	 	  	$	75,100	 	 	$	76,300	 	 				 	$	76,000	 	 	$	77,500	 	 	$	79,900	 	 	$	85,700	 	 					

							
 	  	September 30, 2019	 	 	 	 	 	June 30, 2019	 	 	 	 	 	 	 		
	Risk In-Force by Loan-To-Value Ratio(4),(6)	  	Primary	 	  	Flow	 	 	Bulk	 	 	 	 	 	Primary	 	 	Flow	 	 	Bulk	 	 	 	 	 	 	 	
95.01% and above	  	$	9,986	 	  	$	9,985	 	 	$	1	 	 				 	$	10,624	 	 	$	10,624	 	 	$	—  	 	 				 					
90.01% to 95.00%	  	 	20,195	 	  	 	20,190	 	 	 	5	 	 				 	 	20,938	 	 	 	20,932	 	 	 	6	 	 				 					
80.01% to 90.00%	  	 	22,171	 	  	 	22,112	 	 	 	59	 	 				 	 	22,722	 	 	 	22,656	 	 	 	66	 	 				 					
80.00% and below	  	 	19,544	 	  	 	14,160	 	 	 	5,384	 	 				 	 	20,809	 	 	 	14,924	 	 	 	5,885	 	 				 					
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 				 					
Total	  	$	71,896	 	  	$	66,447	 	 	$	5,449	 	 				 	$	75,093	 	 	$	69,136	 	 	$	5,957	 	 				 					
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	 	 	 	 	 				 					
The loss and expense ratios included above were calculated using whole dollars and may be different than the ratios calculated using the rounded numbers included herein.

(1)	The ratio of benefits and other changes in policy reserves to net earned premiums.	
(2)	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.	
(3)	The ratio of an insurer’s general expenses to net premiums written. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.	
(4)	The business currently has structured insurance transactions with three lenders where it is in a secondary loss position. The insurance in-force and risk in-force associated with these arrangements are excluded from these metrics. The risk in-force on these transactions was approximately $152 million, $157 million, $157 million, $154 million, $158 million, $159 million and $160 million as of September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018, June 30, 2018 and March 31, 2018, respectively.	
(5)	The business currently provides 100% coverage on the majority of the loans the company insures. For the purpose of representing the risk in-force, Australia has computed an “effective risk in-force” amount which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in-force has been calculated by applying to insurance in-force a factor that represents the highest expected average per-claim payment for any one underwriting year over the life of the business. This factor was 35% for all periods presented. Australia also has certain risk share arrangements where it provides pro-rata coverage of certain loans rather than 100% coverage. As a result, for loans with these risk share arrangements, the applicable pro-rata coverage amount provided is used when applying the factor.	
(6)	Loan amount in loan-to-value ratio calculation includes capitalized premiums, where applicable.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Selected Key Performance Measures—Australia Mortgage Insurance Segment
(dollar amounts in millions)

	Primary Insurance(1)	  	September 30, 2019	 	 	June 30, 2019	 	 	March 31, 2019	 	 	December 31, 2018	 	 	September 30, 2018	 	 	 	 	
Insured loans in-force	  	 	1,293,961	 	 	 	1,308,811	 	 	 	1,323,172	 	 	 	1,332,906	 	 	 	1,335,133	 	 					
Insured delinquent loans	  	 	7,713	 	 	 	7,891	 	 	 	7,490	 	 	 	7,145	 	 	 	7,350	 	 					
Insured delinquency rate	  	 	0.60	% 	 	 	0.60	% 	 	 	0.57	% 	 	 	0.54	% 	 	 	0.55	% 	 					
								
Flow loans in-force	  	 	1,192,282	 	 	 	1,200,603	 	 	 	1,217,050	 	 	 	1,226,219	 	 	 	1,229,558	 	 					
Flow delinquent loans	  	 	7,469	 	 	 	7,642	 	 	 	7,265	 	 	 	6,931	 	 	 	7,133	 	 					
Flow delinquency rate	  	 	0.63	% 	 	 	0.64	% 	 	 	0.60	% 	 	 	0.57	% 	 	 	0.58	% 	 					
								
Bulk loans in-force	  	 	101,679	 	 	 	108,208	 	 	 	106,122	 	 	 	106,687	 	 	 	105,575	 	 					
Bulk delinquent loans	  	 	244	 	 	 	249	 	 	 	225	 	 	 	214	 	 	 	217	 	 					
Bulk delinquency rate	  	 	0.24	% 	 	 	0.23	% 	 	 	0.21	% 	 	 	0.20	% 	 	 	0.21	% 	 					
								
	Loss Metrics	  	September 30, 2019	 	 	June 30, 2019	 	 	March 31, 2019	 	 	December 31, 2018	 	 	September 30, 2018	 	 	 	 	
Beginning Reserves	  	$	209	 	 	$	204	 	 	$	196	 	 	$	201	 	 	$	206	 	 					
Paid claims(2)	  	 	(24	) 	 	 	(20	) 	 	 	(22	) 	 	 	(25	) 	 	 	(27	) 	 					
Increase in reserves	  	 	27	 	 	 	27	 	 	 	28	 	 	 	25	 	 	 	26	 	 					
Impact of changes in foreign exchange rates	  	 	(8	) 	 	 	(2	) 	 	 	2	 	 	 	(5	) 	 	 	(4	) 	 					
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 					
Ending Reserves	  	$	204	 	 	$	209	 	 	$	204	 	 	$	196	 	 	$	201	 	 					

 	  	September 30, 2019	 	 	June 30, 2019	 	 	September 30, 2018	 		
	State and Territory(1)	  	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	
New South Wales	  	 	28	% 	 	 	0.45	% 	 	 	27	% 	 	 	0.45	% 	 	 	28	% 	 	 	0.38	% 		
Queensland	  	 	23	 	 	 	0.80	% 	 	 	23	 	 	 	0.81	% 	 	 	23	 	 	 	0.73	% 		
Victoria	  	 	22	 	 	 	0.43	% 	 	 	23	 	 	 	0.45	% 	 	 	23	 	 	 	0.42	% 		
Western Australia	  	 	13	 	 	 	1.06	% 	 	 	13	 	 	 	1.10	% 	 	 	12	 	 	 	1.01	% 		
South Australia	  	 	6	 	 	 	0.69	% 	 	 	6	 	 	 	0.68	% 	 	 	6	 	 	 	0.70	% 		
Australian Capital Territory	  	 	3	 	 	 	0.26	% 	 	 	3	 	 	 	0.25	% 	 	 	3	 	 	 	0.15	% 		
Tasmania	  	 	2	 	 	 	0.31	% 	 	 	2	 	 	 	0.31	% 	 	 	2	 	 	 	0.35	% 		
New Zealand	  	 	2	 	 	 	0.02	% 	 	 	2	 	 	 	0.02	% 	 	 	2	 	 	 	0.05	% 		
Northern Territory	  	 	1	 	 	 	0.85	% 	 	 	1	 	 	 	0.83	% 	 	 	1	 	 	 	0.70	% 		
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 					
Total	  	 	100	% 	 	 	0.60	% 	 	 	100	% 	 	 	0.60	% 	 	 	100	% 	 	 	0.55	% 		

	By Policy Year(1)	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2010 and prior	  	 	43	% 	 	 	0.51	% 	 	 	44	% 	 	 	0.52	% 	 	 	46	% 	 	 	0.50	% 		
2011	  	 	4	 	 	 	0.77	% 	 	 	4	 	 	 	0.80	% 	 	 	5	 	 	 	0.75	% 		
2012	  	 	6	 	 	 	1.04	% 	 	 	6	 	 	 	1.11	% 	 	 	6	 	 	 	0.93	% 		
2013	  	 	6	 	 	 	1.13	% 	 	 	7	 	 	 	1.10	% 	 	 	7	 	 	 	0.92	% 		
2014	  	 	8	 	 	 	1.01	% 	 	 	8	 	 	 	0.97	% 	 	 	9	 	 	 	0.84	% 		
2015	  	 	7	 	 	 	0.86	% 	 	 	7	 	 	 	0.82	% 	 	 	8	 	 	 	0.64	% 		
2016	  	 	7	 	 	 	0.60	% 	 	 	7	 	 	 	0.60	% 	 	 	7	 	 	 	0.42	% 		
2017	  	 	7	 	 	 	0.41	% 	 	 	7	 	 	 	0.36	% 	 	 	7	 	 	 	0.19	% 		
2018	  	 	7	 	 	 	0.22	% 	 	 	7	 	 	 	0.15	% 	 	 	5	 	 	 	0.02	% 		
2019	  	 	5	 	 	 	0.01	% 	 	 	3	 	 	 	0.01	% 	 	 	—  	 	 	 	—  	% 		
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 					
Total	  	 	100	% 	 	 	0.60	% 	 	 	100	% 	 	 	0.60	% 	 	 	100	% 	 	 	0.55	% 		

(1) 	The business currently has structured insurance transactions with three lenders where it is in a secondary loss position. The loans in-force, including delinquent loans, and risk in-force associated with these arrangements are excluded from these metrics.	
(2) 	Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Selected Key Performance Measures—Australia Mortgage Insurance Segment
(Australian dollar amounts in millions)

 	  	2019	 	  	2018	 	
 	  	3Q	 	  	2Q	 	  	1Q	 	 	Total	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Paid Claims(1)	  			 	  				  				 				  				 				 				 				 				
Flow	  	$	35	 	  	$	28	 	  	$	30	 	 	$	93	 	  	$	34	 	 	$	38	 	 	$	33	 	 	$	44	 	 	$	149	 	
	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	35	 	  	$	28	 	  	$	30	 	 	$	93	 	  	$	34	 	 	$	38	 	 	$	33	 	 	$	44	 	 	$	149	 	

Average Paid Claim (in thousands)	  	$	97.9	 	  	$	94.1	 	  	$	94.2	 	 				  	$	104.2	 	 	$	117.2	 	 	$	110.1	 	 	$	119.5	 	 				
	 	 								
Average Reserve Per Delinquency (in thousands)	  	$	39.2	 	  	$	37.8	 	  	$	38.4	 	 				  	$	39.0	 	 	$	37.9	 	 	$	38.2	 	 	$	39.4	 	 				
	 	 								
Loss Metrics	  	 	 	  	 	 	  	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Beginning Reserves	  	$	298	 	  	$	288	 	  	$	279	 	 	$	279	 	  	$	278	 	 	$	279	 	 	$	274	 	 	$	280	 	 	$	280	 	
Paid claims(1)	  	 	(35	) 	  	 	(28	) 	  	 	(30	) 	 	 	(93	) 	  	 	(34	) 	 	 	(38	) 	 	 	(33	) 	 	 	(44	) 	 	 	(149	) 	
Increase in reserves	  	 	39	 	  	 	38	 	  	 	39	 	 	 	116	 	  	 	35	 	 	 	37	 	 	 	38	 	 	 	38	 	 	 	148	 	
	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reserves	  	$	302	 	  	$	298	 	  	$	288	 	 	$	302	 	  	$	279	 	 	$	278	 	 	$	279	 	 	$	274	 	 	$	279	 	

Loan Amount(2),(3)	  			 	  				  				 				  				 				 				 				 				
Over $550K	  	 	19	% 	  	 	19	% 	  	 	18	% 	 				  	 	18	% 	 	 	18	% 	 	 	17	% 	 	 	17	% 	 				
$400K to $550K	  	 	22	 	  	 	21	 	  	 	21	 	 				  	 	21	 	 	 	21	 	 	 	21	 	 	 	20	 	 				
$250K to $400K	  	 	33	 	  	 	33	 	  	 	34	 	 				  	 	34	 	 	 	34	 	 	 	34	 	 	 	35	 	 				
$100K to $250K	  	 	21	 	  	 	22	 	  	 	22	 	 				  	 	22	 	 	 	22	 	 	 	23	 	 	 	23	 	 				
$100K or Less	  	 	5	 	  	 	5	 	  	 	5	 	 				  	 	5	 	 	 	5	 	 	 	5	 	 	 	5	 	 				
	  	 	 	 	  	 	 	 	  	 	 	 	 				  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total	  	 	100	% 	  	 	100	% 	  	 	100	% 	 				  	 	100	% 	 	 	100	% 	 	 	100	% 	 	 	100	% 	 				

Average Primary Loan Size (in thousands)(3)	  	$	236	 	  	$	235	 	  	$	233	 	 				  	$	232	 	 	$	231	 	 	$	229	 	 	$	228	 	 				
All amounts presented in Australian dollars.

(1) 	Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.	
(2) 	The percentages in this table are based on the amount of primary insurance in-force in each loan band as a percentage of total insurance in-force.	
(3) 	The business currently has structured insurance transactions with three lenders where it is in a secondary loss position. The loans in-force associated with these arrangements are excluded from these metrics.	
 
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U.S. Life Insurance Segment

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment
(amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				 				 				 				
Premiums	  	$	717	 	  	$	713	 	 	$	709	 	 	$	2,139	 	 	$	716	 	 	$	717	 	 	$	712	 	 	$	722	 	 	$	2,867	 	
Net investment income	  	 	722	 	  	 	724	 	 	 	701	 	 	 	2,147	 	 	 	690	 	 	 	696	 	 	 	707	 	 	 	688	 	 	 	2,781	 	
Net investment gains (losses)	  	 	11	 	  	 	(36	) 	 	 	84	 	 	 	59	 	 	 	38	 	 	 	(7	) 	 	 	(10	) 	 	 	8	 	 	 	29	 	
Policy fees and other income	  	 	152	 	  	 	187	 	 	 	151	 	 	 	490	 	 	 	154	 	 	 	155	 	 	 	169	 	 	 	163	 	 	 	641	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	1,602	 	  	 	1,588	 	 	 	1,645	 	 	 	4,835	 	 	 	1,598	 	 	 	1,561	 	 	 	1,578	 	 	 	1,581	 	 	 	6,318	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	1,225	 	  	 	1,211	 	 	 	1,236	 	 	 	3,672	 	 	 	1,767	 	 	 	1,248	 	 	 	1,163	 	 	 	1,238	 	 	 	5,416	 	
Interest credited	  	 	106	 	  	 	106	 	 	 	106	 	 	 	318	 	 	 	113	 	 	 	113	 	 	 	116	 	 	 	119	 	 	 	461	 	
Acquisition and operating expenses, net of deferrals	  	 	158	 	  	 	142	 	 	 	148	 	 	 	448	 	 	 	153	 	 	 	144	 	 	 	146	 	 	 	141	 	 	 	584	 	
Amortization of deferred acquisition costs and intangibles	  	 	89	 	  	 	67	 	 	 	66	 	 	 	222	 	 	 	55	 	 	 	53	 	 	 	78	 	 	 	71	 	 	 	257	 	
Interest expense	  	 	4	 	  	 	4	 	 	 	5	 	 	 	13	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	16	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	1,582	 	  	 	1,530	 	 	 	1,561	 	 	 	4,673	 	 	 	2,092	 	 	 	1,562	 	 	 	1,507	 	 	 	1,573	 	 	 	6,734	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	20	 	  	 	58	 	 	 	84	 	 	 	162	 	 	 	(494	) 	 	 	(1	) 	 	 	71	 	 	 	8	 	 	 	(416	) 	
Provision (benefit) for income taxes	  	 	10	 	  	 	19	 	 	 	24	 	 	 	53	 	 	 	(101	) 	 	 	6	 	 	 	21	 	 	 	6	 	 	 	(68	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	10	 	  	 	39	 	 	 	60	 	 	 	109	 	 	 	(393	) 	 	 	(7	) 	 	 	50	 	 	 	2	 	 	 	(348	) 	
	 									
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				 				 				 				
Net investment (gains) losses, net(1)	  	 	(14	) 	  	 	35	 	 	 	(86	) 	 	 	(65	) 	 	 	(41	) 	 	 	6	 	 	 	9	 	 	 	(9	) 	 	 	(35	) 	
Expenses related to restructuring	  	 	—  	 	  	 	(1	) 	 	 	4	 	 	 	3	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Taxes on adjustments	  	 	3	 	  	 	(7	) 	 	 	17	 	 	 	13	 	 	 	9	 	 	 	(2	) 	 	 	(2	) 	 	 	2	 	 	 	7	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	(1	) 	  	$	66	 	 	$	(5	) 	 	$	60	 	 	$	(425	) 	 	$	(3	) 	 	$	57	 	 	$	(5	) 	 	$	(376	) 	

 
(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	  	$	(11	) 	  	$	36	 	 	$	(84	) 	 	$	(59	) 	 	$	(38	) 	 	$	7	 	 	$	10	 	 	$	(8	) 	 	$	(29	) 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	(3	) 	  	 	(1	) 	 	 	(2	) 	 	 	(6	) 	 	 	(3	) 	 	 	(1	) 	 	 	(1	) 	 	 	(1	) 	 	 	(6	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment (gains) losses, net	  	$	(14	) 	  	$	35	 	 	$	(86	) 	 	$	(65	) 	 	$	(41	) 	 	$	6	 	 	$	9	 	 	$	(9	) 	 	$	(35	) 	

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment—Long-Term Care Insurance
(amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				  				  				 				 				 				 				 				
Premiums	  	$	652	 	  	$	640	 	  	$	628	 	  	$	1,920	 	 	$	650	 	 	$	648	 	 	$	632	 	 	$	631	 	 	$	2,561	 	
Net investment income	  	 	432	 	  	 	428	 	  	 	406	 	  	 	1,266	 	 	 	398	 	 	 	397	 	 	 	399	 	 	 	382	 	 	 	1,576	 	
Net investment gains (losses)	  	 	28	 	  	 	(15	) 	  	 	80	 	  	 	93	 	 	 	46	 	 	 	4	 	 	 	3	 	 	 	6	 	 	 	59	 	
Policy fees and other income	  	 	(2	) 	  	 	2	 	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	(1	) 	 	 	1	 	 	 	1	 	 	 	1	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	1,110	 	  	 	1,055	 	  	 	1,114	 	  	 	3,279	 	 	 	1,094	 	 	 	1,048	 	 	 	1,035	 	 	 	1,020	 	 	 	4,197	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				  				  				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	916	 	  	 	896	 	  	 	927	 	  	 	2,739	 	 	 	1,311	 	 	 	944	 	 	 	874	 	 	 	928	 	 	 	4,057	 	
Interest credited	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Acquisition and operating expenses, net of deferrals	  	 	106	 	  	 	93	 	  	 	101	 	  	 	300	 	 	 	105	 	 	 	99	 	 	 	101	 	 	 	93	 	 	 	398	 	
Amortization of deferred acquisition costs and intangibles	  	 	25	 	  	 	26	 	  	 	25	 	  	 	76	 	 	 	25	 	 	 	24	 	 	 	22	 	 	 	27	 	 	 	98	 	
Interest expense	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	1,047	 	  	 	1,015	 	  	 	1,053	 	  	 	3,115	 	 	 	1,441	 	 	 	1,067	 	 	 	997	 	 	 	1,048	 	 	 	4,553	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	63	 	  	 	40	 	  	 	61	 	  	 	164	 	 	 	(347	) 	 	 	(19	) 	 	 	38	 	 	 	(28	) 	 	 	(356	) 	
Provision (benefit) for income taxes	  	 	19	 	  	 	15	 	  	 	19	 	  	 	53	 	 	 	(69	) 	 	 	1	 	 	 	14	 	 	 	(1	) 	 	 	(55	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	44	 	  	 	25	 	  	 	42	 	  	 	111	 	 	 	(278	) 	 	 	(20	) 	 	 	24	 	 	 	(27	) 	 	 	(301	) 	
	 									
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				  				  				 				 				 				 				 				
Net investment (gains) losses	  	 	(28	) 	  	 	15	 	  	 	(80	) 	  	 	(93	) 	 	 	(46	) 	 	 	(4	) 	 	 	(3	) 	 	 	(6	) 	 	 	(59	) 	
Expenses related to restructuring	  	 	—  	 	  	 	(1	) 	  	 	2	 	  	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Taxes on adjustments	  	 	5	 	  	 	(2	) 	  	 	16	 	  	 	19	 	 	 	10	 	 	 	—  	 	 	 	1	 	 	 	1	 	 	 	12	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	21	 	  	$	37	 	  	$	(20	) 	  	$	38	 	 	$	(314	) 	 	$	(24	) 	 	$	22	 	 	$	(32	) 	 	$	(348	) 	

RATIOS:	  				  				  				  				 				 				 				 				 				
Loss Ratio(1)	  	 	76	% 	  	 	74	% 	  	 	81	% 	  	 	77	% 	 	 	138	% 	 	 	83	% 	 	 	75	% 	 	 	84	% 	 	 	95	% 	
Gross Benefits Ratio(2)	  	 	140	% 	  	 	140	% 	  	 	148	% 	  	 	143	% 	 	 	202	% 	 	 	146	% 	 	 	138	% 	 	 	147	% 	 	 	158	% 	

(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.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment—Life Insurance
(amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				 				 				 				
Premiums	  	$	65	 	  	$	73	 	 	$	81	 	 	$	219	 	 	$	66	 	 	$	69	 	 	$	80	 	 	$	91	 	 	$	306	 	
Net investment income	  	 	133	 	  	 	130	 	 	 	133	 	 	 	396	 	 	 	127	 	 	 	128	 	 	 	125	 	 	 	124	 	 	 	504	 	
Net investment gains (losses)	  	 	(2	) 	  	 	(3	) 	 	 	10	 	 	 	5	 	 	 	(5	) 	 	 	(4	) 	 	 	(2	) 	 	 	5	 	 	 	(6	) 	
Policy fees and other income	  	 	151	 	  	 	182	 	 	 	148	 	 	 	481	 	 	 	151	 	 	 	152	 	 	 	164	 	 	 	159	 	 	 	626	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	347	 	  	 	382	 	 	 	372	 	 	 	1,101	 	 	 	339	 	 	 	345	 	 	 	367	 	 	 	379	 	 	 	1,430	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	228	 	  	 	244	 	 	 	242	 	 	 	714	 	 	 	367	 	 	 	239	 	 	 	225	 	 	 	247	 	 	 	1,078	 	
Interest credited	  	 	60	 	  	 	58	 	 	 	58	 	 	 	176	 	 	 	61	 	 	 	59	 	 	 	60	 	 	 	61	 	 	 	241	 	
Acquisition and operating expenses, net of deferrals	  	 	40	 	  	 	37	 	 	 	34	 	 	 	111	 	 	 	35	 	 	 	33	 	 	 	33	 	 	 	35	 	 	 	136	 	
Amortization of deferred acquisition costs and intangibles	  	 	50	 	  	 	28	 	 	 	27	 	 	 	105	 	 	 	14	 	 	 	16	 	 	 	42	 	 	 	29	 	 	 	101	 	
Interest expense	  	 	4	 	  	 	4	 	 	 	5	 	 	 	13	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	16	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	382	 	  	 	371	 	 	 	366	 	 	 	1,119	 	 	 	481	 	 	 	351	 	 	 	364	 	 	 	376	 	 	 	1,572	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(35	) 	  	 	11	 	 	 	6	 	 	 	(18	) 	 	 	(142	) 	 	 	(6	) 	 	 	3	 	 	 	3	 	 	 	(142	) 	
Provision (benefit) for income taxes	  	 	(8	) 	  	 	3	 	 	 	1	 	 	 	(4	) 	 	 	(30	) 	 	 	(1	) 	 	 	1	 	 	 	—  	 	 	 	(30	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	(27	) 	  	 	8	 	 	 	5	 	 	 	(14	) 	 	 	(112	) 	 	 	(5	) 	 	 	2	 	 	 	3	 	 	 	(112	) 	
	 									
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				 				 				 				
Net investment (gains) losses	  	 	2	 	  	 	3	 	 	 	(10	) 	 	 	(5	) 	 	 	5	 	 	 	4	 	 	 	2	 	 	 	(5	) 	 	 	6	 	
Expenses related to restructuring	  	 	—  	 	  	 	—  	 	 	 	1	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Taxes on adjustments	  	 	—  	 	  	 	(1	) 	 	 	2	 	 	 	1	 	 	 	(1	) 	 	 	(1	) 	 	 	—  	 	 	 	1	 	 	 	(1	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	(25	) 	  	$	10	 	 	$	(2	) 	 	$	(17	) 	 	$	(108	) 	 	$	(2	) 	 	$	4	 	 	$	(1	) 	 	$	(107	) 	

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment—Fixed Annuities
(amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				 				 				 				
Premiums	  	$	—  	 	  	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	—  	 	
Net investment income	  	 	157	 	  	 	166	 	 	 	162	 	 	 	485	 	 	 	165	 	 	 	171	 	 	 	183	 	 	 	182	 	 	 	701	 	
Net investment gains (losses)	  	 	(15	) 	  	 	(18	) 	 	 	(6	) 	 	 	(39	) 	 	 	(3	) 	 	 	(7	) 	 	 	(11	) 	 	 	(3	) 	 	 	(24	) 	
Policy fees and other income	  	 	3	 	  	 	3	 	 	 	3	 	 	 	9	 	 	 	3	 	 	 	4	 	 	 	4	 	 	 	3	 	 	 	14	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	145	 	  	 	151	 	 	 	159	 	 	 	455	 	 	 	165	 	 	 	168	 	 	 	176	 	 	 	182	 	 	 	691	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	81	 	  	 	71	 	 	 	67	 	 	 	219	 	 	 	89	 	 	 	65	 	 	 	64	 	 	 	63	 	 	 	281	 	
Interest credited	  	 	46	 	  	 	48	 	 	 	48	 	 	 	142	 	 	 	52	 	 	 	54	 	 	 	56	 	 	 	58	 	 	 	220	 	
Acquisition and operating expenses, net of deferrals	  	 	12	 	  	 	12	 	 	 	13	 	 	 	37	 	 	 	13	 	 	 	12	 	 	 	12	 	 	 	13	 	 	 	50	 	
Amortization of deferred acquisition costs and intangibles	  	 	14	 	  	 	13	 	 	 	14	 	 	 	41	 	 	 	16	 	 	 	13	 	 	 	14	 	 	 	15	 	 	 	58	 	
Interest expense	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	    153	 	  	 	    144	 	 	 	    142	 	 	 	    439	 	 	 	    170	 	 	 	    144	 	 	 	    146	 	 	 	    149	 	 	 	    609	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(8	) 	  	 	7	 	 	 	17	 	 	 	16	 	 	 	(5	) 	 	 	24	 	 	 	30	 	 	 	33	 	 	 	82	 	
Provision (benefit) for income taxes	  	 	(1	) 	  	 	1	 	 	 	4	 	 	 	4	 	 	 	(2	) 	 	 	6	 	 	 	6	 	 	 	7	 	 	 	17	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	(7	) 	  	 	6	 	 	 	13	 	 	 	12	 	 	 	(3	) 	 	 	18	 	 	 	24	 	 	 	26	 	 	 	65	 	
	 									
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				 				 				 				
Net investment (gains) losses, net(1)	  	 	12	 	  	 	17	 	 	 	4	 	 	 	33	 	 	 	—  	 	 	 	6	 	 	 	10	 	 	 	2	 	 	 	18	 	
Expenses related to restructuring	  	 	—  	 	  	 	—  	 	 	 	1	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Taxes on adjustments	  	 	(2	) 	  	 	(4	) 	 	 	(1	) 	 	 	(7	) 	 	 	—  	 	 	 	(1	) 	 	 	(3	) 	 	 	—  	 	 	 	(4	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	3	 	  	$	19	 	 	$	17	 	 	$	39	 	 	$	(3	) 	 	$	23	 	 	$	31	 	 	$	28	 	 	$	79	 	

 
(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	  	$	15	 	  	$	18	 	 	$	6	 	 	$	39	 	 	$	3	 	 	$	7	 	 	$	11	 	 	$	3	 	 	$	24	 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	(3	) 	  	 	(1	) 	 	 	(2	) 	 	 	(6	) 	 	 	(3	) 	 	 	(1	) 	 	 	(1	) 	 	 	(1	) 	 	 	(6	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment (gains) losses, net	  	$	12	 	  	$	17	 	 	$	4	 	 	$	33	 	 	$	—  	 	 	$	6	 	 	$	10	 	 	$	2	 	 	$	18	 	

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Runoff Segment

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Adjusted Operating Income (Loss)—Runoff Segment
(amounts in millions)

 	  	2019	 	  	2018	 	
 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				  				  				  				
Net investment income	  	$	48	 	  	$	47	 	  	$	47	 	  	$	142	 	  	$	45	 	  	$	44	 	  	$	43	 	  	$	42	 	  	$	174	 	
Net investment gains (losses)	  	 	(9	) 	  	 	(4	) 	  	 	—  	 	  	 	(13	) 	  	 	(15	) 	  	 	(3	) 	  	 	(1	) 	  	 	(14	) 	  	 	(33	) 	
Policy fees and other income	  	 	35	 	  	 	35	 	  	 	35	 	  	 	105	 	  	 	37	 	  	 	38	 	  	 	38	 	  	 	40	 	  	 	153	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	74	 	  	 	78	 	  	 	82	 	  	 	234	 	  	 	67	 	  	 	79	 	  	 	80	 	  	 	68	 	  	 	294	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				  				  				  				  				  				  				  				
Benefits and other changes in policy reserves	  	 	8	 	  	 	13	 	  	 	1	 	  	 	22	 	  	 	17	 	  	 	7	 	  	 	7	 	  	 	8	 	  	 	39	 	
Interest credited	  	 	40	 	  	 	40	 	  	 	41	 	  	 	121	 	  	 	39	 	  	 	38	 	  	 	36	 	  	 	37	 	  	 	150	 	
Acquisition and operating expenses, net of deferrals	  	 	13	 	  	 	13	 	  	 	13	 	  	 	39	 	  	 	14	 	  	 	14	 	  	 	14	 	  	 	15	 	  	 	57	 	
Amortization of deferred acquisition costs and intangibles	  	 	10	 	  	 	4	 	  	 	2	 	  	 	16	 	  	 	13	 	  	 	5	 	  	 	8	 	  	 	7	 	  	 	33	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	71	 	  	 	70	 	  	 	57	 	  	 	198	 	  	 	83	 	  	 	64	 	  	 	65	 	  	 	67	 	  	 	279	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	3	 	  	 	8	 	  	 	25	 	  	 	36	 	  	 	(16	) 	  	 	15	 	  	 	15	 	  	 	1	 	  	 	15	 	
Provision (benefit) for income taxes	  	 	—  	 	  	 	1	 	  	 	5	 	  	 	6	 	  	 	(3	) 	  	 	2	 	  	 	3	 	  	 	—  	 	  	 	2	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	3	 	  	 	7	 	  	 	20	 	  	 	30	 	  	 	(13	) 	  	 	13	 	  	 	12	 	  	 	1	 	  	 	13	 	
	 									
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				  				  				  				  				  				  				  				
Net investment (gains) losses, net(1)	  	 	9	 	  	 	2	 	  	 	—  	 	  	 	11	 	  	 	13	 	  	 	1	 	  	 	1	 	  	 	12	 	  	 	27	 	
Taxes on adjustments	  	 	(2	) 	  	 	—  	 	  	 	—  	 	  	 	(2	) 	  	 	(2	) 	  	 	—  	 	  	 	—  	 	  	 	(3	) 	  	 	(5	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	10	 	  	$	9	 	  	$	20	 	  	$	39	 	  	$	(2	) 	  	$	14	 	  	$	13	 	  	$	10	 	  	$	35	 	

 
(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	  	$	9	 	  	$	4	 	  	$	—  	 	  	$	13	 	  	$	15	 	  	$	3	 	  	$	1	 	  	$	14	 	  	$	33	 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	—  	 	  	 	(2	) 	  	 	—  	 	  	 	(2	) 	  	 	(2	) 	  	 	(2	) 	  	 	—  	 	  	 	(2	) 	  	 	(6	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Net investment (gains) losses, net	  	$	9	 	  	$	2	 	  	$	—  	 	  	$	11	 	  	$	13	 	  	$	1	 	  	$	1	 	  	$	12	 	  	$	27	 	

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Corporate and Other

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Adjusted Operating Loss—Corporate and Other(1),(2) 
(amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				 				 				 				
Premiums	  	$	2	 	  	$	2	 	 	$	2	 	 	$	6	 	 	$	2	 	 	$	1	 	 	$	3	 	 	$	2	 	 	$	8	 	
Net investment income	  	 	2	 	  	 	2	 	 	 	2	 	 	 	6	 	 	 	3	 	 	 	—  	 	 	 	1	 	 	 	2	 	 	 	6	 	
Net investment gains (losses)	  	 	5	 	  	 	(7	) 	 	 	(21	) 	 	 	(23	) 	 	 	18	 	 	 	(7	) 	 	 	—  	 	 	 	(1	) 	 	 	10	 	
Policy fees and other income	  	 	2	 	  	 	—  	 	 	 	1	 	 	 	3	 	 	 	(1	) 	 	 	(1	) 	 	 	1	 	 	 	(2	) 	 	 	(3	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	11	 	  	(3)	 	 	(16)	 	 	(8)	 	 	22	 	 	(7)	 	 	5	 	 	1	 	 	21	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	—  	 	  	 	1	 	 	 	1	 	 	 	2	 	 	 	2	 	 	 	1	 	 	 	1	 	 	 	1	 	 	 	5	 	
Acquisition and operating expenses, net of deferrals	  	 	8	 	  	 	13	 	 	 	13	 	 	 	34	 	 	 	22	 	 	 	17	 	 	 	14	 	 	 	15	 	 	 	68	 	
Amortization of deferred acquisition costs and intangibles	  	 	1	 	  	 	—  	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	 	 	1	 	
Interest expense	  	 	53	 	  	 	54	 	 	 	53	 	 	 	160	 	 	 	55	 	 	 	53	 	 	 	60	 	 	 	63	 	 	 	231	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	62	 	  	68	 	 	67	 	 	197	 	 	79	 	 	71	 	 	75	 	 	80	 	 	305	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(51	) 	  	 	(71	) 	 	 	(83	) 	 	 	(205	) 	 	 	(57	) 	 	 	(78	) 	 	 	(70	) 	 	 	(79	) 	 	 	(284	) 	
Provision (benefit) for income taxes	  	 	(21	) 	  	 	(7	) 	 	 	(9	) 	 	 	(37	) 	 	 	(47	) 	 	 	(24	) 	 	 	29	 	 	 	(14	) 	 	 	(56	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LOSS FROM CONTINUING OPERATIONS	  	 	(30	) 	  	 	(64	) 	 	 	(74	) 	 	 	(168	) 	 	 	(10	) 	 	 	(54	) 	 	 	(99	) 	 	 	(65	) 	 	 	(228	) 	
	 									
ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				 				 				 				
Net investment (gains) losses	  	 	(5	) 	  	 	7	 	 	 	21	 	 	 	23	 	 	 	(18	) 	 	 	7	 	 	 	—  	 	 	 	1	 	 	 	(10	) 	
Expenses related to restructuring	  	 	—  	 	  	 	1	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	2	 	 	 	—  	 	 	 	—  	 	 	 	2	 	
Fees associated with bond consent solicitation	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	6	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	6	 	
Taxes on adjustments	  	 	—  	 	  	 	(1	) 	 	 	(5	) 	 	 	(6	) 	 	 	2	 	 	 	(2	) 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING LOSS	  	$	(35	) 	  	$	(57	) 	 	$	(58	) 	 	$	(150	) 	 	$	(20	) 	 	$	(47	) 	 	$	(99	) 	 	$	(64	) 	 	$	(230	) 	

 
(1)  Includes inter-segment eliminations and the results of other businesses that are managed outside the operating segments, including certain smaller 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. Operating results of the Canada mortgage insurance business presented as discontinued operations on pages 8 and 9 herein were as follows:
 	   
   
	
  	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  				  				 				 				 				 				 				 				 				
Premiums	  	$	130	 	  	$	125	 	 	$	126	 	 	$	381	 	 	$	128	 	 	$	127	 	 	$	131	 	 	$	139	 	 	$	525	 	
Net investment income	  	 	37	 	  	 	36	 	 	 	35	 	 	 	108	 	 	 	36	 	 	 	35	 	 	 	36	 	 	 	34	 	 	 	141	 	
Net investment gains (losses)	  	 	(12	) 	  	 	1	 	 	 	(1	) 	 	 	(12	) 	 	 	(136	) 	 	 	29	 	 	 	(15	) 	 	 	(15	) 	 	 	(137	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	155	 	  	 	162	 	 	 	160	 	 	 	477	 	 	 	28	 	 	 	191	 	 	 	152	 	 	 	158	 	 	 	529	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  				  				 				 				 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	23	 	  	 	19	 	 	 	19	 	 	 	61	 	 	 	23	 	 	 	18	 	 	 	19	 	 	 	18	 	 	 	78	 	
Acquisition and operating expenses, net of deferrals	  	 	20	 	  	 	18	 	 	 	14	 	 	 	52	 	 	 	12	 	 	 	12	 	 	 	17	 	 	 	13	 	 	 	54	 	
Amortization of deferred acquisition costs and intangibles	  	 	11	 	  	 	11	 	 	 	10	 	 	 	32	 	 	 	11	 	 	 	11	 	 	 	11	 	 	 	10	 	 	 	43	 	
Interest expense	  	 	12	 	  	 	13	 	 	 	12	 	 	 	37	 	 	 	13	 	 	 	12	 	 	 	11	 	 	 	7	 	 	 	43	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	66	 	  	 	61	 	 	 	55	 	 	 	182	 	 	 	59	 	 	 	53	 	 	 	58	 	 	 	48	 	 	 	218	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES AND LOSS ON SALE	  	 	89	 	  	 	101	 	 	 	105	 	 	 	295	 	 	 	(31	) 	 	 	138	 	 	 	94	 	 	 	110	 	 	 	311	 	
Provision (benefit) for income taxes	  	 	5	 	  	 	41	 	 	 	43	 	 	 	89	 	 	 	23	 	 	 	33	 	 	 	(2	) 	 	 	27	 	 	 	81	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE LOSS ON SALE	  	 	84	 	  	 	60	 	 	 	62	 	 	 	206	 	 	 	(54	) 	 	 	105	 	 	 	96	 	 	 	83	 	 	 	230	 	
Loss on sale, net of taxes	  	 	(164	) 	  	 	—  	 	 	 	—  	 	 	 	(164	) 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAXES	  	 	(80	) 	  	 	60	 	 	 	62	 	 	 	42	 	 	 	(54	) 	 	 	105	 	 	 	96	 	 	 	83	 	 	 	230	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Less: net income (loss) from discontinued operations attributable to noncontrolling interests	  	 	30	 	  	 	35	 	 	 	36	 	 	 	101	 	 	 	(6	) 	 	 	46	 	 	 	32	 	 	 	36	 	 	 	108	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM DISCONTINUED OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	$	(110	) 	  	$	25	 	 	$	26	 	 	$	(59	) 	 	$	(48	) 	 	$	59	 	 	$	64	 	 	$	47	 	 	$	122	 	

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Additional Financial Data

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Investments Summary
(amounts in millions)

 	  	September 30, 2019	 	  	June 30, 2019	 	 	March 31, 2019	 	 	December 31, 2018	 	 	September 30, 2018	 		
 	  	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	  	$	34,280	 	  	 	46	% 	  	$	32,958	 	  	 	46	% 	 	$	31,497	 	 	 	46	% 	 	$	30,588	 	  	 	45	% 	 	$	30,341	 	  	 	45	% 		
Private fixed maturity securities	  	 	13,411	 	  	 	18	 	  	 	13,091	 	  	 	18	 	 	 	12,566	 	 	 	18	 	 	 	11,790	 	  	 	18	 	 	 	11,438	 	  	 	17	 		
Residential mortgage-backed securities(1)	  	 	2,335	 	  	 	3	 	  	 	2,395	 	  	 	3	 	 	 	2,498	 	 	 	4	 	 	 	2,572	 	  	 	4	 	 	 	2,687	 	  	 	4	 		
Commercial mortgage-backed securities	  	 	3,051	 	  	 	4	 	  	 	2,970	 	  	 	4	 	 	 	2,943	 	 	 	4	 	 	 	3,007	 	  	 	4	 	 	 	3,146	 	  	 	5	 		
Other asset-backed securities	  	 	3,337	 	  	 	5	 	  	 	3,287	 	  	 	5	 	 	 	3,021	 	 	 	4	 	 	 	3,024	 	  	 	4	 	 	 	2,647	 	  	 	4	 		
State and political subdivisions	  	 	2,729	 	  	 	4	 	  	 	2,636	 	  	 	4	 	 	 	2,546	 	 	 	4	 	 	 	2,552	 	  	 	4	 	 	 	2,795	 	  	 	4	 		
Non-investment grade fixed maturity securities	  	 	2,090	 	  	 	3	 	  	 	2,154	 	  	 	3	 	 	 	2,082	 	 	 	3	 	 	 	2,056	 	  	 	3	 	 	 	2,113	 	  	 	3	 		
Equity securities:	  				  			 	  				  				 				 				 				  				 				  					
Common stocks and mutual funds	  	 	107	 	  	 	—  	 	  	 	111	 	  	 	—  	 	 	 	103	 	 	 	—  	 	 	 	141	 	  	 	—  	 	 	 	171	 	  	 	—  	 		
Preferred stocks	  	 	132	 	  	 	—  	 	  	 	151	 	  	 	—  	 	 	 	148	 	 	 	—  	 	 	 	134	 	  	 	—  	 	 	 	149	 	  	 	—  	 		
Commercial mortgage loans	  	 	6,980	 	  	 	10	 	  	 	6,963	 	  	 	10	 	 	 	6,929	 	 	 	10	 	 	 	6,687	 	  	 	10	 	 	 	6,568	 	  	 	10	 		
Restricted commercial mortgage loans related to a securitization entity	  	 	53	 	  	 	—  	 	  	 	56	 	  	 	—  	 	 	 	59	 	 	 	—  	 	 	 	62	 	  	 	—  	 	 	 	87	 	  	 	—  	 		
Policy loans	  	 	2,069	 	  	 	3	 	  	 	2,076	 	  	 	3	 	 	 	1,994	 	 	 	3	 	 	 	1,861	 	  	 	3	 	 	 	1,859	 	  	 	3	 		
Cash, cash equivalents, restricted cash and short-term investments	  	 	1,839	 	  	 	2	 	  	 	1,907	 	  	 	3	 	 	 	2,117	 	 	 	3	 	 	 	2,169	 	  	 	3	 	 	 	2,594	 	  	 	4	 		
Securities lending	  	 	62	 	  	 	—  	 	  	 	113	 	  	 	—  	 	 	 	106	 	 	 	—  	 	 	 	102	 	  	 	—  	 	 	 	166	 	  	 	—  	 		
Other invested assets:	 	Limited partnerships	  	 	565	 	  	 	1	 	  	 	512	 	  	 	1	 	 	 	462	 	 	 	1	 	 	 	409	 	  	 	1	 	 	 	372	 	  	 	1	 		
	 	Derivatives:	  				  			 	  				  				 				 				 				  				 				  					
	 	Interest rate swaps	  	 	402	 	  	 	1	 	  	 	144	 	  	 	—  	 	 	 	59	 	 	 	—  	 	 	 	42	 	  	 	—  	 	 	 	36	 	  	 	—  	 		
	 	Foreign currency swaps	  	 	10	 	  	 	—  	 	  	 	5	 	  	 	—  	 	 	 	3	 	 	 	—  	 	 	 	6	 	  	 	—  	 	 	 	2	 	  	 	—  	 		
	 	Equity index options	  	 	62	 	  	 	—  	 	  	 	65	 	  	 	—  	 	 	 	60	 	 	 	—  	 	 	 	39	 	  	 	—  	 	 	 	80	 	  	 	—  	 		
	 	Other foreign currency contracts	  	 	13	 	  	 	—  	 	  	 	8	 	  	 	—  	 	 	 	5	 	 	 	—  	 	 	 	10	 	  	 	—  	 	 	 	2	 	  	 	—  	 		
	 	Other	  	 	369	 	  	 	—  	 	  	 	357	 	  	 	—  	 	 	 	314	 	 	 	—  	 	 	 	269	 	  	 	1	 	 	 	212	 	  	 	—  	 		
	 		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
Total invested assets and cash	  	$	73,896	 	  	 	100	% 	  	$	71,959	 	  	 	100	% 	 	$	69,512	 	 	 	100	% 	 	$	67,520	 	  	 	100	% 	 	$	67,465	 	  	 	100	% 		
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
	Public Fixed Maturity Securities—Credit Quality:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	  	 	 	
	NRSRO(2) Designation	 	 	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	  	 	 	
AAA	 		  	$	10,561	 	  	 	25	% 	  	$	10,195	 	  	 	24	% 	 	$	9,995	 	 	 	25	% 	 	$	10,031	 	  	 	25	% 	 	$	10,790	 	  	 	27	% 		
AA	 		  	 	3,758	 	  	 	9	 	  	 	3,674	 	  	 	9	 	 	 	3,558	 	 	 	9	 	 	 	3,608	 	  	 	9	 	 	 	3,820	 	  	 	10	 		
A	 		  	 	12,040	 	  	 	28	 	  	 	11,690	 	  	 	28	 	 	 	11,431	 	 	 	28	 	 	 	11,177	 	  	 	28	 	 	 	11,095	 	  	 	28	 		
BBB	 		  	 	15,418	 	  	 	35	 	  	 	14,768	 	  	 	36	 	 	 	13,872	 	 	 	35	 	 	 	13,306	 	  	 	35	 	 	 	12,627	 	  	 	32	 		
BB	 		  	 	1,093	 	  	 	3	 	  	 	1,128	 	  	 	3	 	 	 	1,081	 	 	 	3	 	 	 	1,149	 	  	 	3	 	 	 	1,156	 	  	 	3	 		
B	 		  	 	53	 	  	 	—  	 	  	 	76	 	  	 	—  	 	 	 	76	 	 	 	—  	 	 	 	93	 	  	 	—  	 	 	 	130	 	  	 	—  	 		
CCC and lower	 		  	 	25	 	  	 	—  	 	  	 	25	 	  	 	—  	 	 	 	25	 	 	 	—  	 	 	 	25	 	  	 	—  	 	 	 	27	 	  	 	—  	 		
	 		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
Total public fixed maturity securities	  	$	42,948	 	  	 	100	% 	  	$	41,556	 	  	 	100	% 	 	$	40,038	 	 	 	100	% 	 	$	39,389	 	  	 	100	% 	 	$	39,645	 	  	 	100	% 		
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
	Private Fixed Maturity Securities—Credit Quality:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	  	 	 	
	NRSRO(2) Designation	 	 	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	  	 	 	
AAA	 		  	$	1,594	 	  	 	9	% 	  	$	1,504	 	  	 	8	% 	 	$	1,480	 	 	 	9	% 	 	$	1,531	 	  	 	9	% 	 	$	1,138	 	  	 	7	% 		
AA	 		  	 	2,254	 	  	 	12	 	  	 	2,315	 	  	 	13	 	 	 	2,165	 	 	 	13	 	 	 	1,994	 	  	 	12	 	 	 	1,999	 	  	 	13	 		
A	 		  	 	5,296	 	  	 	29	 	  	 	5,286	 	  	 	30	 	 	 	5,032	 	 	 	29	 	 	 	4,670	 	  	 	29	 	 	 	4,494	 	  	 	29	 		
BBB	 		  	 	8,222	 	  	 	45	 	  	 	7,905	 	  	 	44	 	 	 	7,538	 	 	 	44	 	 	 	7,216	 	  	 	45	 	 	 	7,091	 	  	 	46	 		
BB	 		  	 	851	 	  	 	5	 	  	 	865	 	  	 	5	 	 	 	839	 	 	 	5	 	 	 	733	 	  	 	5	 	 	 	720	 	  	 	5	 		
B	 		  	 	66	 	  	 	—  	 	  	 	58	 	  	 	—  	 	 	 	59	 	 	 	—  	 	 	 	54	 	  	 	—  	 	 	 	78	 	  	 	—  	 		
CCC and lower	 		  	 	2	 	  	 	—  	 	  	 	2	 	  	 	—  	 	 	 	2	 	 	 	—  	 	 	 	2	 	  	 	—  	 	 	 	2	 	  	 	—  	 		
	 		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 		
Total private fixed maturity securities	  	$	18,285	 	  	 	100	% 	  	$	17,935	 	  	 	100	% 	 	$	17,115	 	 	 	100	% 	 	$	16,200	 	  	 	100	% 	 	$	15,522	 	  	 	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.	
 
38

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
Fixed Maturity Securities Summary
(amounts in millions)

 	 	September 30, 2019	 	 	June 30, 2019	 	 	March 31, 2019	 	 	December 31, 2018	 	 	September 30, 2018	 	
 	 	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	 	$	5,254	 	 	 	9	%   	 	$	4,987	 	 	 	8	% 	 	$	4,731	 	 	 	8	% 	 	$	4,631	 	 	 	8	% 	 	$	5,181	 	 	 	9	% 	
State and political subdivisions	 	 	2,729	 	 	 	4	 	 	 	2,636	 	 	 	4	 	 	 	2,546	 	 	 	4	 	 	 	2,552	 	 	 	5	 	 	 	2,795	 	 	 	5	 	
Foreign government	 	 	1,359	 	 	 	2	 	 	 	1,336	 	 	 	2	 	 	 	1,311	 	 	 	2	 	 	 	1,268	 	 	 	2	 	 	 	1,217	 	 	 	2	 	
U.S. corporate	 	 	32,424	 	 	 	54	 	 	 	31,329	 	 	 	53	 	 	 	29,872	 	 	 	53	 	 	 	28,698	 	 	 	52	 	 	 	27,494	 	 	 	50	 	
Foreign corporate	 	 	10,656	 	 	 	17	 	 	 	10,462	 	 	 	18	 	 	 	10,149	 	 	 	19	 	 	 	9,770	 	 	 	18	 	 	 	9,940	 	 	 	18	 	
Residential mortgage-backed securities	 	 	2,375	 	 	 	4	 	 	 	2,436	 	 	 	4	 	 	 	2,540	 	 	 	4	 	 	 	2,618	 	 	 	5	 	 	 	2,731	 	 	 	5	 	
Commercial mortgage-backed securities	 	 	3,071	 	 	 	5	 	 	 	2,989	 	 	 	5	 	 	 	2,962	 	 	 	5	 	 	 	3,016	 	 	 	5	 	 	 	3,156	 	 	 	6	 	
Other asset-backed securities	 	 	3,365	 	 	 	5	 	 	 	3,316	 	 	 	6	 	 	 	3,042	 	 	 	5	 	 	 	3,036	 	 	 	5	 	 	 	2,653	 	 	 	5	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total fixed maturity securities	 	$	61,233	 	 	 	100	% 	 	$	59,491	 	 	 	100	% 	 	$	57,153	 	 	 	100	% 	 	$	55,589	 	 	 	100	% 	 	$	55,167	 	 	 	100	% 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Corporate Bond Holdings—Industry Sector:	 				 			 	 				 				 				 				 				 				 				 				
	 	 									
Investment Grade:	 				 			 	 				 				 				 				 				 				 				 				
Finance and insurance	 	$	9,995	 	 	 	22	% 	 	$	9,669	 	 	 	23	% 	 	$	9,255	 	 	 	24	% 	 	$	8,731	 	 	 	23	% 	 	$	8,347	 	 	 	22	% 	
Utilities	 	 	5,868	 	 	 	14	 	 	 	5,697	 	 	 	14	 	 	 	5,491	 	 	 	14	 	 	 	5,445	 	 	 	14	 	 	 	5,451	 	 	 	15	 	
Energy	 	 	3,801	 	 	 	9	 	 	 	3,732	 	 	 	9	 	 	 	3,596	 	 	 	9	 	 	 	3,294	 	 	 	9	 	 	 	3,192	 	 	 	9	 	
Consumer—non-cyclical	 	 	6,293	 	 	 	15	 	 	 	6,043	 	 	 	14	 	 	 	5,735	 	 	 	14	 	 	 	5,534	 	 	 	14	 	 	 	5,180	 	 	 	14	 	
Consumer—cyclical	 	 	2,003	 	 	 	5	 	 	 	1,836	 	 	 	4	 	 	 	1,731	 	 	 	4	 	 	 	1,693	 	 	 	4	 	 	 	1,645	 	 	 	4	 	
Capital goods	 	 	3,243	 	 	 	8	 	 	 	3,108	 	 	 	7	 	 	 	2,956	 	 	 	7	 	 	 	2,833	 	 	 	7	 	 	 	2,751	 	 	 	7	 	
Industrial	 	 	2,188	 	 	 	5	 	 	 	2,093	 	 	 	5	 	 	 	1,981	 	 	 	5	 	 	 	1,915	 	 	 	5	 	 	 	1,870	 	 	 	5	 	
Technology and communications	 	 	3,919	 	 	 	9	 	 	 	3,821	 	 	 	10	 	 	 	3,580	 	 	 	9	 	 	 	3,443	 	 	 	9	 	 	 	3,282	 	 	 	9	 	
Transportation	 	 	2,189	 	 	 	5	 	 	 	2,121	 	 	 	5	 	 	 	2,051	 	 	 	5	 	 	 	1,907	 	 	 	5	 	 	 	1,830	 	 	 	5	 	
Other	 	 	1,691	 	 	 	4	 	 	 	1,719	 	 	 	4	 	 	 	1,770	 	 	 	4	 	 	 	1,806	 	 	 	5	 	 	 	1,977	 	 	 	5	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Subtotal	 	 	41,190	 	 	 	96	 	 	 	39,839	 	 	 	95	 	 	 	38,146	 	 	 	95	 	 	 	36,601	 	 	 	95	 	 	 	35,525	 	 	 	95	 	

Non-Investment Grade:	 				 			 	 				 				 				 				 				 				 				 				
Finance and insurance	 	 	208	 	 	 	—  	 	 	 	216	 	 	 	1	 	 	 	200	 	 	 	1	 	 	 	183	 	 	 	—  	 	 	 	177	 	 	 	—  	 	
Utilities	 	 	85	 	 	 	—  	 	 	 	100	 	 	 	—  	 	 	 	94	 	 	 	—  	 	 	 	51	 	 	 	—  	 	 	 	57	 	 	 	—  	 	
Energy	 	 	346	 	 	 	1	 	 	 	331	 	 	 	1	 	 	 	308	 	 	 	1	 	 	 	339	 	 	 	1	 	 	 	357	 	 	 	1	 	
Consumer—non-cyclical	 	 	138	 	 	 	—  	 	 	 	155	 	 	 	—  	 	 	 	168	 	 	 	—  	 	 	 	192	 	 	 	1	 	 	 	193	 	 	 	1	 	
Consumer—cyclical	 	 	233	 	 	 	1	 	 	 	243	 	 	 	1	 	 	 	237	 	 	 	1	 	 	 	217	 	 	 	1	 	 	 	220	 	 	 	1	 	
Capital goods	 	 	137	 	 	 	—  	 	 	 	157	 	 	 	—  	 	 	 	146	 	 	 	—  	 	 	 	130	 	 	 	—  	 	 	 	154	 	 	 	—  	 	
Industrial	 	 	224	 	 	 	1	 	 	 	207	 	 	 	—  	 	 	 	189	 	 	 	—  	 	 	 	222	 	 	 	1	 	 	 	215	 	 	 	1	 	
Technology and communications	 	 	425	 	 	 	1	 	 	 	465	 	 	 	2	 	 	 	452	 	 	 	2	 	 	 	438	 	 	 	1	 	 	 	448	 	 	 	1	 	
Transportation	 	 	8	 	 	 	—  	 	 	 	8	 	 	 	—  	 	 	 	13	 	 	 	—  	 	 	 	23	 	 	 	—  	 	 	 	13	 	 	 	—  	 	
Other	 	 	86	 	 	 	—  	 	 	 	70	 	 	 	—  	 	 	 	68	 	 	 	—  	 	 	 	72	 	 	 	—  	 	 	 	75	 	 	 	—  	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Subtotal	 	 	1,890	 	 	 	4	 	 	 	1,952	 	 	 	5	 	 	 	1,875	 	 	 	5	 	 	 	1,867	 	 	 	5	 	 	 	1,909	 	 	 	5	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total	 	$	43,080	 	 	 	100	% 	 	$	41,791	 	 	 	100	% 	 	$	40,021	 	 	 	100	% 	 	$	38,468	 	 	 	100	% 	 	$	37,434	 	 	 	100	% 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Fixed Maturity Securities—Contractual Maturity Dates:	 				 			 	 				 				 				 				 				 				 				 				
	 	 									
Due in one year or less	 	$	1,587	 	 	 	3	% 	 	$	1,684	 	 	 	3	% 	 	$	1,777	 	 	 	3	% 	 	$	1,653	 	 	 	3	% 	 	$	1,496	 	 	 	3	% 	
Due after one year through five years	 	 	9,655	 	 	 	16	 	 	 	9,689	 	 	 	16	 	 	 	9,380	 	 	 	16	 	 	 	9,298	 	 	 	17	 	 	 	9,311	 	 	 	17	 	
Due after five years through ten years	 	 	12,387	 	 	 	20	 	 	 	11,985	 	 	 	20	 	 	 	11,554	 	 	 	20	 	 	 	11,294	 	 	 	20	 	 	 	11,312	 	 	 	21	 	
Due after ten years	 	 	28,793	 	 	 	47	 	 	 	27,392	 	 	 	46	 	 	 	25,898	 	 	 	46	 	 	 	24,674	 	 	 	44	 	 	 	24,508	 	 	 	44	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Subtotal	 	 	52,422	 	 	 	86	 	 	 	50,750	 	 	 	85	 	 	 	48,609	 	 	 	85	 	 	 	46,919	 	 	 	84	 	 	 	46,627	 	 	 	85	 	
Mortgage and asset-backed securities	 	 	8,811	 	 	 	14	 	 	 	8,741	 	 	 	15	 	 	 	8,544	 	 	 	15	 	 	 	8,670	 	 	 	16	 	 	 	8,540	 	 	 	15	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total fixed maturity securities	 	$	61,233	 	 	 	100	% 	 	$	59,491	 	 	 	100	% 	 	$	57,153	 	 	 	100	% 	 	$	55,589	 	 	 	100	% 	 	$	55,167	 	 	 	100	% 	

 
39

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
General Account U.S. GAAP Net Investment Income Yields
(amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
U.S. GAAP Net Investment Income	  			 	  				 				 				 				 				 				 				 				
Fixed maturity securities—taxable	  	$	631	 	  	$	634	 	 	$	613	 	 	$	1,878	 	 	$	617	 	 	$	613	 	 	$	621	 	 	$	605	 	 	$	2,456	 	
Fixed maturity securities—non-taxable	  	 	2	 	  	 	2	 	 	 	2	 	 	 	6	 	 	 	2	 	 	 	3	 	 	 	3	 	 	 	3	 	 	 	11	 	
Commercial mortgage loans	  	 	86	 	  	 	84	 	 	 	81	 	 	 	251	 	 	 	80	 	 	 	81	 	 	 	77	 	 	 	82	 	 	 	320	 	
Restricted commercial mortgage loans related to a securitization entity	  	 	1	 	  	 	1	 	 	 	1	 	 	 	3	 	 	 	2	 	 	 	1	 	 	 	2	 	 	 	2	 	 	 	7	 	
Equity securities	  	 	4	 	  	 	5	 	 	 	4	 	 	 	13	 	 	 	4	 	 	 	6	 	 	 	5	 	 	 	5	 	 	 	20	 	
Other invested assets	  	 	49	 	  	 	47	 	 	 	44	 	 	 	140	 	 	 	49	 	 	 	41	 	 	 	42	 	 	 	37	 	 	 	169	 	
Limited partnerships	  	 	13	 	  	 	12	 	 	 	15	 	 	 	40	 	 	 	(4	) 	 	 	3	 	 	 	11	 	 	 	2	 	 	 	12	 	
Policy loans	  	 	47	 	  	 	45	 	 	 	46	 	 	 	138	 	 	 	44	 	 	 	41	 	 	 	41	 	 	 	43	 	 	 	169	 	
Cash, cash equivalents, restricted cash and short-term investments	  	 	8	 	  	 	11	 	 	 	11	 	 	 	30	 	 	 	11	 	 	 	12	 	 	 	13	 	 	 	12	 	 	 	48	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees	  	 	841	 	  	 	841	 	 	 	817	 	 	 	2,499	 	 	 	805	 	 	 	801	 	 	 	815	 	 	 	791	 	 	 	3,212	 	
Expenses and fees	  	 	(25	) 	  	 	(25	) 	 	 	(23	) 	 	 	(73	) 	 	 	(26	) 	 	 	(21	) 	 	 	(23	) 	 	 	(21	) 	 	 	(91	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income	  	$	816	 	  	$	816	 	 	$	794	 	 	$	2,426	 	 	$	779	 	 	$	780	 	 	$	792	 	 	$	770	 	 	$	3,121	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Annualized Yields	  			 	  				 				 				 				 				 				 				 				
Fixed maturity securities—taxable	  	 	4.7	% 	  	 	4.7	% 	 	 	4.6	% 	 	 	4.7	% 	 	 	4.6	% 	 	 	4.6	% 	 	 	4.7	% 	 	 	4.6	% 	 	 	4.6	% 	
Fixed maturity securities—non-taxable	  	 	6.1	% 	  	 	6.1	% 	 	 	6.1	% 	 	 	6.1	% 	 	 	3.7	% 	 	 	3.9	% 	 	 	3.8	% 	 	 	3.7	% 	 	 	4.0	% 	
Commercial mortgage loans	  	 	4.9	% 	  	 	4.8	% 	 	 	4.8	% 	 	 	4.9	% 	 	 	4.8	% 	 	 	5.0	% 	 	 	4.8	% 	 	 	5.2	% 	 	 	4.9	% 	
Restricted commercial mortgage loans related to a securitization entity	  	 	7.3	% 	  	 	7.0	% 	 	 	6.7	% 	 	 	7.0	% 	 	 	10.8	% 	 	 	4.5	% 	 	 	8.4	% 	 	 	7.8	% 	 	 	7.9	% 	
Equity securities	  	 	6.4	% 	  	 	7.8	% 	 	 	6.1	% 	 	 	6.8	% 	 	 	5.0	% 	 	 	7.5	% 	 	 	5.9	% 	 	 	5.9	% 	 	 	6.3	% 	
Other invested assets(1)	  	 	54.0	% 	  	 	56.1	% 	 	 	65.7	% 	 	 	59.3	% 	 	 	99.0	% 	 	 	107.9	% 	 	 	150.0	% 	 	 	129.8	% 	 	 	111.9	% 	
Limited partnerships(2)	  	 	9.7	% 	  	 	9.9	% 	 	 	13.8	% 	 	 	11.0	% 	 	 	(4.1	)% 	 	 	3.4	% 	 	 	13.8	% 	 	 	2.9	% 	 	 	3.6	% 	
Policy loans	  	 	9.1	% 	  	 	8.8	% 	 	 	9.5	% 	 	 	9.2	% 	 	 	9.5	% 	 	 	8.8	% 	 	 	9.0	% 	 	 	9.6	% 	 	 	9.2	% 	
Cash, cash equivalents, restricted cash and short-term investments	  	 	1.7	% 	  	 	2.2	% 	 	 	2.1	% 	 	 	2.0	% 	 	 	1.8	% 	 	 	1.8	% 	 	 	1.7	% 	 	 	1.4	% 	 	 	1.7	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees	  	 	5.1	% 	  	 	5.1	% 	 	 	5.0	% 	 	 	5.1	% 	 	 	4.9	% 	 	 	4.9	% 	 	 	5.0	% 	 	 	4.8	% 	 	 	4.9	% 	
Expenses and fees	  	 	(0.2	)% 	  	 	(0.1	)% 	 	 	(0.2	)% 	 	 	(0.2	)% 	 	 	(0.1	)% 	 	 	(0.1	)% 	 	 	(0.2	)% 	 	 	(0.1	)% 	 	 	(0.1	)% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income	  	 	4.9	% 	  	 	5.0	% 	 	 	4.8	% 	 	 	4.9	% 	 	 	4.8	% 	 	 	4.8	% 	 	 	4.8	% 	 	 	4.7	% 	 	 	4.8	% 	

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 44 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.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
Net Investment Gains (Losses), Net—Detail
(amounts in millions)

 	  	2019	 	 	2018	 	
 	  	3Q	 	  	2Q	 	 	1Q	 	 	Total	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net realized gains (losses) on available-for-sale securities:	  			 	  				 				 				 				 				 				 				 				
Fixed maturity securities:	  			 	  				 				 				 				 				 				 				 				
U.S. corporate	  	$	11	 	  	$	(16	) 	 	$	30	 	 	$	25	 	 	$	10	 	 	$	(6	) 	 	$	(7	) 	 	$	(3	) 	 	$	(6	) 	
U.S. government, agencies and government-sponsored enterprises	  	 	—  	 	  	 	2	 	 	 	33	 	 	 	35	 	 	 	54	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	55	 	
Foreign corporate	  	 	1	 	  	 	(1	) 	 	 	(1	) 	 	 	(1	) 	 	 	(6	) 	 	 	—  	 	 	 	(1	) 	 	 	(3	) 	 	 	(10	) 	
Foreign government	  	 	2	 	  	 	2	 	 	 	—  	 	 	 	4	 	 	 	(4	) 	 	 	(2	) 	 	 	—  	 	 	 	—  	 	 	 	(6	) 	
State and political subdivisions	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	
Mortgage-backed securities	  	 	1	 	  	 	1	 	 	 	(2	) 	 	 	—  	 	 	 	(5	) 	 	 	(2	) 	 	 	2	 	 	 	(2	) 	 	 	(7	) 	
Asset-backed securities	  	 	—  	 	  	 	—  	 	 	 	(1	) 	 	 	(1	) 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	 	 	—  	 	 	 	(1	) 	
Foreign exchange	  	 	1	 	  	 	1	 	 	 	(1	) 	 	 	1	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total net realized gains (losses) on available-for-sale securities	  	 	16	 	  	 	(11	) 	 	 	58	 	 	 	63	 	 	 	49	 	 	 	(9	) 	 	 	(7	) 	 	 	(8	) 	 	 	25	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net realized gains (losses) on equity securities sold	  	 	6	 	  	 	—  	 	 	 	3	 	 	 	9	 	 	 	1	 	 	 	—  	 	 	 	8	 	 	 	2	 	 	 	11	 	
Net unrealized gains (losses) on equity securities still held	  	 	(4	) 	  	 	5	 	 	 	12	 	 	 	13	 	 	 	(23	) 	 	 	(2	) 	 	 	4	 	 	 	(13	) 	 	 	(34	) 	
Limited partnerships	  	 	6	 	  	 	(11	) 	 	 	15	 	 	 	10	 	 	 	3	 	 	 	3	 	 	 	(2	) 	 	 	7	 	 	 	11	 	
Commercial mortgage loans	  	 	(1	) 	  	 	1	 	 	 	(1	) 	 	 	(1	) 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Derivative instruments	  	 	(29	) 	  	 	(30	) 	 	 	(12	) 	 	 	(71	) 	 	 	(8	) 	 	 	(8	) 	 	 	(2	) 	 	 	(4	) 	 	 	(22	) 	
Other	  	 	4	 	  	 	—  	 	 	 	—  	 	 	 	4	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), gross	  	 	(2	) 	  	 	(46	) 	 	 	75	 	 	 	27	 	 	 	22	 	 	 	(16	) 	 	 	1	 	 	 	(16	) 	 	 	(9	) 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	3	 	  	 	3	 	 	 	2	 	 	 	8	 	 	 	5	 	 	 	3	 	 	 	1	 	 	 	3	 	 	 	12	 	
Adjustment for net investment (gains) losses attributable to noncontrolling interests	  	 	4	 	  	 	—  	 	 	 	(6	) 	 	 	(2	) 	 	 	9	 	 	 	(1	) 	 	 	(6	) 	 	 	5	 	 	 	7	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), net	  	$	5	 	  	$	(43	) 	 	$	71	 	 	$	33	 	 	$	36	 	 	$	(14	) 	 	$	(4	) 	 	$	(8	) 	 	$	10	 	

 
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Reconciliations of Non-GAAP Measures

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
Reconciliation of Operating ROE
(amounts in millions)

	Twelve Month Rolling Average ROE	  	Twelve months ended	 	
 	  	September 30,
2019	 	  	June 30,
2019	 	  	March 31,
2019	 	  	December 31,
2018	 	 	September 30,
2018	 		
U.S. GAAP Basis ROE	  				  				  				  				 					
Net income available to Genworth Financial, Inc.’s common stockholders for the twelve months ended(1)	  	$	31	 	  	$	159	 	  	$	181	 	  	$	119	 	 	$	801	 		
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income(2)	  	$	10,646	 	  	$	10,609	 	  	$	10,539	 	  	$	10,500	 	 	$	10,426	 		
U.S. GAAP Basis ROE(1)/(2)	  	 	0.3	% 	  	 	1.5	% 	  	 	1.7	% 	  	 	1.1	% 	 	 	7.7	% 		
							
Operating ROE	  				  				  				  				 					
Adjusted operating income (loss) for the twelve months ended(1)	  	$	91	 	  	$	67	 	  	$	19	 	  	$	(5	) 	 	$	590	 		
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income(2)	  	$	10,646	 	  	$	10,609	 	  	$	10,539	 	  	$	10,500	 	 	$	10,426	 		
Operating ROE(1)/(2)	  	 	0.9	% 	  	 	0.6	% 	  	 	0.2	% 	  	 	—  	% 	 	 	5.7	% 		
			
	Quarterly Average ROE	  	Three months ended	 	
 	  	September 30,
2019	 	  	June 30,
2019	 	  	March 31,
2019	 	  	December 31,
2018	 	 	September 30,
2018	 		
U.S. GAAP Basis ROE	  				  				  				  				 					
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the period ended(3)	  	$	18	 	  	$	168	 	  	$	174	 	  	$	(329	) 	 	$	146	 		
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income(4)	  	$	10,755	 	  	$	10,663	 	  	$	10,494	 	  	$	10,569	 	 	$	10,657	 		
Annualized U.S. GAAP Quarterly Basis ROE(3)/(4)	  	 	0.7	% 	  	 	6.3	% 	  	 	6.6	% 	  	 	(12.5	)% 	 	 	5.5	% 		
							
Operating ROE	  				  				  				  				 					
Adjusted operating income (loss) for the period ended(3)	  	$	123	 	  	$	178	 	  	$	95	 	  	$	(305	) 	 	$	99	 		
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income(4)	  	$	10,755	 	  	$	10,663	 	  	$	10,494	 	  	$	10,569	 	 	$	10,657	 		
Annualized Operating Quarterly Basis ROE(3)/(4)	  	 	4.6	% 	  	 	6.7	% 	  	 	3.6	% 	  	 	(11.5	)% 	 	 	3.7	% 		
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 (loss) 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 (loss) available to Genworth Financial, Inc.’s common stockholders and adjusted operating income (loss) 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.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
THIRD QUARTER 2019
 
Reconciliation of Core Yield

 	  	 	  	2019	 	 	2018	 	
	  	(Assets—amounts in billions)	  	 	3Q	 	  	 	2Q	 	 	 	1Q	 	 	 	Total	 	 	 	4Q	 	 	 	3Q	 	 	 	2Q	 	 	 	1Q	 	 	 	Total	 	
	  	Reported—Total Invested Assets and Cash	  	$	73.9	 	  	$	72.0	 	 	$	69.5	 	 	$	73.9	 	 	$	67.5	 	 	$	67.5	 	 	$	68.2	 	 	$	69.6	 	 	$	67.5	 	
	  	Subtract:	  			 	  				 				 				 				 				 				 				 				
	  	Securities lending	  	 	0.1	 	  	 	0.1	 	 	 	0.1	 	 	 	0.1	 	 	 	0.1	 	 	 	0.2	 	 	 	0.2	 	 	 	0.2	 	 	 	0.1	 	
	  	Unrealized gains (losses)	  	 	7.5	 	  	 	5.7	 	 	 	3.7	 	 	 	7.5	 	 	 	1.8	 	 	 	2.1	 	 	 	2.6	 	 	 	3.5	 	 	 	1.8	 	
	  		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
	  	Adjusted end of period invested assets and cash	  	$	66.3	 	  	$	66.2	 	 	$	65.7	 	 	$	66.3	 	 	$	65.6	 	 	$	65.2	 	 	$	65.4	 	 	$	65.9	 	 	$	65.6	 	
	  		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(A)	  	Average Invested Assets and Cash Used in Reported Yield Calculation	  	$	66.2	 	  	$	66.0	 	 	$	65.7	 	 	$	66.0	 	 	$	65.4	 	 	$	65.3	 	 	$	65.6	 	 	$	65.7	 	 	$	65.5	 	
	  	Subtract:	  			 	  				 				 				 				 				 				 				 				
	  	Restricted commercial mortgage loans related to a securitization entity(1)	  	 	—  	 	  	 	—  	 	 	 	0.1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	0.1	 	 	 	—  	 	
	  		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(B)	  	Average Invested Assets and Cash Used in Core Yield Calculation	  	$	66.2	 	  	$	66.0	 	 	$	65.6	 	 	$	66.0	 	 	$	65.4	 	 	$	65.3	 	 	$	65.6	 	 	$	65.6	 	 	$	65.5	 	
	  		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
	  	(Income—amounts in millions)	  			 	  				 				 				 				 				 				 				 				
		 									
(C)	  	Reported—Net Investment Income	  	$	816	 	  	$	816	 	 	$	794	 	 	$	2,426	 	 	$	779	 	 	$	780	 	 	$	792	 	 	$	770	 	 	$	3,121	 	
	  	Subtract:	  			 	  				 				 				 				 				 				 				 				
	  	Bond calls and commercial mortgage loan prepayments	  	 	13	 	  	 	7	 	 	 	6	 	 	 	26	 	 	 	8	 	 	 	8	 	 	 	9	 	 	 	11	 	 	 	36	 	
	  	Other non-core items(2)	  	 	8	 	  	 	7	 	 	 	2	 	 	 	17	 	 	 	2	 	 	 	1	 	 	 	2	 	 	 	(2	) 	 	 	3	 	
	  	Restricted commercial mortgage loans related to a securitization entity(1)	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	 	 	1	 	 	 	—  	 	 	 	1	 	 	 	3	 	
	  		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(D)	  	Core Net Investment Income	  	$	795	 	  	$	802	 	 	$	786	 	 	$	2,383	 	 	$	768	 	 	$	770	 	 	$	781	 	 	$	760	 	 	$	3,079	 	

(C) / (A)	  	Reported Yield	  	 	4.93	% 	  	 	4.95	% 	 	 	4.83	% 	 	 	4.90	% 	 	 	4.76	% 	 	 	4.78	% 	 	 	4.83	% 	 	 	4.69	% 	 	 	4.76	% 	
(D) / (B)	  	Core Yield	  	 	4.80	% 	  	 	4.86	% 	 	 	4.79	% 	 	 	4.82	% 	 	 	4.70	% 	 	 	4.72	% 	 	 	4.76	% 	 	 	4.63	% 	 	 	4.70	% 	
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) 	Represents the incremental assets and investment income related to restricted commercial mortgage loans.	
(2) 	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 2019
Financial Strength Ratings As Of October 28, 2019

	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	  	BB+ (Marginal)	  	Baa3 (Adequate)	  	N/A		
Genworth Financial Mortgage Insurance Pty Limited (Australia)(1)	  	A (Strong)	  	N/A	  	N/A		
Genworth Life Insurance Company	  	B- (Weak)	  	B3 (Poor)	  	C++ (Marginal)		
Genworth Life and Annuity Insurance Company	  	B- (Weak)	  	B1 (Poor)	  	B (Fair)		
Genworth Life Insurance Company of New York	  	B- (Weak)	  	B3 (Poor)	  	C++ (Marginal)		
The S&P, Moody’s, A.M. Best, Fitch Rating Service (Fitch) and HR Ratings ratings included 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 “A” (Strong) has strong financial security characteristics that outweigh any vulnerabilities and is highly likely to have the ability to meet financial commitments. Insurers rated “A” (Strong), “BB” (Marginal) or “B” (Weak) have strong, marginal or weak financial security characteristics, respectively. The “A,” “BB” and “B” ranges are the third-, fifth- and sixth-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 “A,” “BB+” and “B-” ratings are the sixth-, eleventh- and sixteenth-highest of S&P’s 21 ratings categories.
Moody’s states that insurance companies rated “Baa” (Adequate) offer adequate financial security and those rated “B” (Poor) offer questionable financial security. The “Baa” (Adequate) and “B” (Poor) ranges are the fourth- and sixth-highest, respectively, 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 “Baa3,” “B1” and “B3” ratings are the tenth-, fourteenth- and sixteenth-highest, respectively, 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 Australian mortgage insurance subsidiary also solicits a rating from Fitch. Fitch states that “A” (Strong) rated insurance companies are viewed as possessing strong capacity to meet policyholder and contract obligations. The “A” rating category is the third-highest of nine financial strength rating categories, which range from “AAA” to “C.” The symbol (+) or (-) may be appended to a rating to indicate the relative position of a credit within a rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “B” category. Accordingly, the “A+” rating is the fifth-highest of Fitch’s 21 ratings categories.
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 Rating’s eight long-term rating categories, which range from “HR AAA” to “HR D.”
S&P, Moody’s, A.M. Best, Fitch 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.

(1) 	Genworth Financial Mortgage Insurance Pty Limited (Australia) is also rated “A+” by Fitch.	
 
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