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
May 1, 2018
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))	
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 May 1, 2018, Genworth Financial, Inc. (the “Company”) issued (1) a press release announcing its financial results for the quarter ended March 31, 2018, 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 March 31, 2018, 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 May 1, 2018.	
		
99.2	  	Financial Supplement for the quarter ended March 31, 2018.	
 
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Exhibit Index

Exhibit
Number	  	Description of Exhibit	
		
99.1	  	Press Release dated May 1, 2018.	
		
99.2	  	Financial Supplement for the quarter ended March 31, 2018.	
 
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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: May 1, 2018	 		 	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 First Quarter 2018 Results
Net Income Of $112 Million And Adjusted Operating Income Of $125 Million
 
 	•	 	As Disclosed On April 24, 2018, Genworth And China Oceanwide Holdings Group Co., Ltd. (Oceanwide) Refiled Their Joint Voluntary Notice With The Committee On Foreign Investment In The United States (CFIUS)	
 
 	•	 	U.S. Mortgage Insurance (MI) Adjusted Operating Income Of $111 Million, Increased 52 Percent Compared To First Quarter Of 2017	
 
 	•	 	U.S. MI’s PMIERs 1 Sufficiency Ratio At 124 Percent, In Excess Of $600 Million Above Requirements	
 
 	•	 	Strong Performance For Canada MI, Adjusted Operating Income Of $49 Million, Up 28 Percent 2 Versus First Quarter Of 2017	
 
 	•	 	U.S. Life Insurance Adjusted Operating Loss Of $(5) Million Compared To Adjusted Operating Income Of $53 Million In First Quarter Of 2017	
 
 	•	 	Holding Company Cash And Liquid Assets Of Approximately $1.2 Billion Reflecting Recently Completed $450 Million Senior Secured Term Loan	
Richmond, VA (May 1, 2018) – Genworth Financial, Inc. (NYSE: GNW) today reported results for the quarter ended March 31, 2018. The company reported net income 3 of $112 million, or $0.22 per diluted share, in the first quarter of 2018, compared with net income of $155 million, or $0.31 per diluted share, in the first quarter of 2017. The adjusted operating income 4 for the first quarter of 2018 was $125 million, or $0.25 per diluted share, compared with adjusted operating income of $143 million, or $0.29 per diluted share, in the first quarter of 2017.
Genworth’s effective tax rate for the quarter was approximately 28 percent. Beginning January 1, 2018, the company taxed its international businesses at their local statutory rates and its domestic businesses at the new enacted tax rate of 21 percent. However, gains on forward starting swaps settled prior to the change in the corporate tax rate will continue to be tax effected at 35 percent as they are amortized into net investment income.

1  	Private Mortgage Insurer Eligibility Requirements.	
2  	Percent change excludes the impact of foreign exchange.	
3  	Unless otherwise stated, all references in this press release to net income (loss), net income (loss) per share, adjusted operating income (loss), adjusted operating income (loss) per share and book value per share should be read as net income (loss) available to Genworth’s common stockholders, net income (loss) available to Genworth’s common stockholders per diluted share, adjusted operating income (loss) available to Genworth’s common stockholders, adjusted operating income (loss) available to Genworth’s common stockholders per diluted share and book value available to Genworth’s common stockholders per share, respectively.	
4  	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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Strategic Update
Genworth and Oceanwide continue to work towards closing their previously announced proposed transaction as quickly as possible.
In order to allow for additional time for regulatory reviews of the transaction, Genworth and Oceanwide agreed to a fourth waiver and agreement of each party’s right to terminate the previously announced merger agreement, extending the deadline to July 1, 2018.
Due to the delay in receiving necessary regulatory approvals, Genworth successfully closed a $450 million senior secured term loan in March. The proceeds of the term loan will be used, together with cash on hand, to repay existing indebtedness due May 2018. Oceanwide was the lead investor in the term loan with a $60 million allocation as it remains committed to supporting Genworth.
As announced on April 24, 2018, Genworth and Oceanwide have re-filed their joint voluntary notice with CFIUS to provide CFIUS additional time to review and discuss the proposed transaction between Genworth and Oceanwide. In connection with the re-filing, CFIUS has agreed to proceed directly to a 45-day investigation period following a one-day review period. Additional information about the CFIUS review process can be found in the definitive proxy statement filed by Genworth with the Securities and Exchange Commission on January 25, 2017. There can be no assurances that CFIUS will ultimately agree to clear the transaction.
In addition to clearance by CFIUS, the closing of the proposed transaction remains subject to the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions and other closing conditions. Genworth and Oceanwide continue to be actively engaged with the relevant regulators regarding the pending applications.
“Genworth’s continued strong operating performance and progress against our strategic initiatives is a result of our unwavering focus on maximizing the company’s value,” said Tom McInerney, president and CEO of Genworth. “We continue to believe the transaction with Oceanwide represents the greatest and most certain value for our stockholders, and are encouraged by the meaningful progress we have made towards achieving the necessary regulatory approvals.”
LU Zhiqiang, chairman of Oceanwide, added: “Oceanwide continues to work diligently with Genworth towards closing the transaction as soon as possible. We remain committed to the transaction, which would provide Oceanwide with the opportunity to enhance our global insurance expertise and bring better insurance market solutions to China.”
 
2

Financial Performance

Consolidated Net Income &
Adjusted Operating Income	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
 	  	Three months ended March 31	 	  	 	 	
 	  	2018	 	  	2017	 	  	 	 	
(Amounts in millions, except per share)	  	Total	 	  	Per
diluted
share	 	  	Total	 	  	Per
diluted
share	 	  	Total
% change	 	
Net income available to Genworth’s common stockholders	  	$	112		  	$	0.22		  	$	155		  	$	0.31		  	 	(28	)% 	
Adjusted operating income	  	$	125		  	$	0.25		  	$	143		  	$	0.29		  	 	(13	)% 	
Weighted-average diluted shares	  	 	502.7		  				  	 	501.0		  				  				

 	  	As of March 31	 	
 	  	2018	 	  	2017	 	
Book value per common share	  	$	26.00	 	  	$	25.68	 	
Book value per common share, excluding accumulated other comprehensive income (loss)	  	$	20.76	 	  	$	19.47	 	
Net income in the first quarter of 2018 was reduced by net investment losses, net of taxes and other adjustments, of $13 million in the quarter. Net income in the first quarter of 2017 benefitted from net investment gains, net of taxes and other adjustments, of $13 million.
Net investment income was $804 million in the quarter, down from $812 million in the prior quarter and up from $790 million in the prior year. Net investment income decreased versus the prior quarter due to lower income from limited partnerships and increased versus prior year from higher average invested assets. The reported yield and the core yield 4 for the quarter were 4.55 percent and 4.50 percent, respectively.
Adjusted operating income (loss) by segment are summarized in the table below:

Adjusted Operating Income (Loss)
(Amounts in millions)	  	Q1 18	 	  	Q4 17	 	  	Q1 17	 	
U.S. Mortgage Insurance	  	$	111	 	  	$	74	 	  	$	73		
Canada Mortgage Insurance	  	 	49	 	  	 	43	 	  	 	36		
Australia Mortgage Insurance	  	 	19	 	  	 	(125	) 	  	 	13		
U.S. Life Insurance	  	 	(5	) 	  	 	(69	) 	  	 	53		
Runoff	  	 	10	 	  	 	13	 	  	 	14		
Corporate and Other	  	 	(59	) 	  	 	390	 	  	 	(46	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Total Adjusted Operating Income	  	$	125	 	  	$ 	326 	 	  	$	143		
	  	 	 	 	  	 	 	 	  	 	 	 	
Adjusted operating income (loss) represents income (loss) from continuing operations excluding net investment gains (losses), gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and other adjustments, net of taxes. A reconciliation of net income (loss) to adjusted operating income (loss) by segments and Corporate and Other activities is included at the end of this press release.
 
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Unless specifically noted in the discussion of results for the MI businesses in Canada and Australia, references to percentage changes exclude the impact of translating foreign denominated activity into U.S. dollars (foreign exchange). Percentage changes, which 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)	  	Q1 18	 	 	Q4 17	 	 	Q1 17	 	
Adjusted operating income	  	$	111	 	 	$	74	 	 	$	73	 	
New insurance written	  				 				 				
Primary Flow	  	$	9,000	 	 	$	10,200	 	 	$	7,600	 	
Loss ratio	  	 	9	% 	 	 	22	% 	 	 	17	% 	
U.S. MI reported adjusted operating income of $111 million, compared with $74 million in the prior quarter and $73 million in the prior year. The loss ratio in the current quarter was nine percent, down 13 points sequentially and down eight points from the prior year. Losses in the quarter benefitted from lower new delinquencies, seasonally higher cures and favorable aging. Results in the quarter also benefitted from a lower corporate tax rate. There were no material incremental incurred losses from areas impacted by hurricanes in the quarter, although the company had reserved approximately $5 million pre-tax for hurricane-related delinquencies in the prior quarter.
Flow New Insurance Written (NIW) of $9.0 billion decreased 12 percent from the prior quarter primarily from a seasonally smaller purchase originations market and lower refinance originations, and increased 18 percent versus the prior year primarily from a larger mortgage insurance market. During the first quarter of 2018, the company’s concentration of single premium flow NIW was down four points from the prior quarter and down slightly from the prior year as it continues its selective participation in this market. U.S. MI’s flow insurance in force increased 12 percent versus the prior year driven primarily by strong NIW and persistency.
 
4

Canada Mortgage Insurance

Operating Metrics
(Dollar amounts in millions)	  	Q1 18	 	 	Q4 17	 	 	Q1 17	 	
Adjusted operating income	  	$	49	 	 	$	43	 	 	$	36	 	
New insurance written	  				 				 				
Flow	  	$	2,500	 	 	$	3,600	 	 	$	2,300	 	
Bulk	  	$	900	 	 	$	800	 	 	$	8,000	 	
Loss ratio	  	 	13	% 	 	 	9	% 	 	 	16	% 	
Canada MI reported adjusted operating income of $49 million versus $43 million in the prior quarter and $36 million in the prior year. The loss ratio in the quarter was 13 percent, up four points sequentially primarily from higher severity on new delinquencies. The loss ratio was down three points compared to the prior year from a decrease in new delinquencies, net of cures, and a lower average reserve per delinquency reflecting the ongoing housing market strength and underlying economic conditions. Results in the quarter also reflected a lower effective tax rate of approximately 27 percent.
Flow NIW was down 31 percent 2 sequentially primarily from a seasonally smaller originations market and up four percent 2 from the prior year. Bulk NIW decreased versus the prior year as a result of regulatory changes introduced in 2016 and 2017.
Australia Mortgage Insurance

Operating Metrics
(Dollar amounts in millions)	  	Q1 18	 	 	Q4 17	 	 	Q1 17	 	
Adjusted operating income (loss)	  	$	19	 	 	$	(125	) 	 	$	13	 	
New insurance written	  				 				 				
Flow	  	$	3,400	 	 	$	4,200	 	 	$	4,100	 	
Bulk	  	$	—  	 	 	$	—  	 	 	$	1,000	 	
Loss ratio	  	 	30	% 	 	 	(7	)% 	 	 	35	% 	
Australia MI reported adjusted operating income of $19 million, compared with an adjusted operating loss of $125 million in the prior quarter and adjusted operating income of $13 million in the prior year. The prior quarter results included a $141 million unfavorable impact from an annual review of its premium earnings pattern. Results in the quarter also reflected a lower effective tax rate of approximately 30 percent.
The loss ratio in the quarter was 30 percent. The change in the premium earnings pattern reduced the prior quarter loss ratio by 35 points. Excluding this impact, the loss ratio was up two points sequentially from delinquency aging and lower seasonal cures and down five points from the prior year primarily from a higher level of earned premiums.
Flow NIW was down 19 percent 2  sequentially from lower activity with certain customers and down 20 percent 2  from the prior year primarily from lower market penetration.
 
5

U.S. Life Insurance

Adjusted Operating Income (Loss)
(Amounts in millions)	  	Q1 18	 	  	Q4 17	 	  	Q1 17	 	
Adjusted operating income (loss)	  				  				  				
Long Term Care Insurance	  	$	(32	) 	  	$	17		  	$	14		
Life Insurance	  	 	(1	) 	  	 	(85	) 	  	 	16		
Fixed Annuities	  	 	28		  	 	(1	) 	  	 	23		
	  	 	 	 	  	 	 	 	  	 	 	 	
Total U.S. Life Insurance	  	$	(5	) 	  	$	(69	) 	  	$	53		
	  	 	 	 	  	 	 	 	  	 	 	 	
Long Term Care Insurance
Long term care insurance reported an adjusted operating loss of $32 million, compared with adjusted operating income of $17 million in the prior quarter and adjusted operating income of $14 million in the prior year. Results versus the prior quarter reflected lower earnings from the acquired block, higher utilization of available benefits and lower renewal premiums due to the timing of policy anniversary dates partially offset by seasonally higher active policy and existing claim termination experience. Prior quarter results included an after-tax reduction to claim reserves of $20 million primarily driven by assumption changes related to claims administrative expenses. Compared to the prior year, results reflected less favorable existing claims performance, including higher utilization of available benefits, and lower earnings from the acquired block, partially offset by higher in-force rate action premiums. Results in the prior year included a $14 million after-tax accrual for state guaranty fund assessments relating to the Penn Treaty Network American Insurance Company and American Network Insurance Company plan of liquidation.
The change in the corporate tax rate had a negative impact on the results given LTC had a pre-tax loss for the quarter. In addition, current quarter results also include an incremental tax expense of $5 million above the 21 percent corporate tax rate related to the amortization of forward starting swap gains settled prior to the change in the corporate tax rate.
Life Insurance
Life insurance reported an adjusted operating loss of $1 million, compared with an adjusted operating loss of $85 million in the prior quarter and adjusted operating income of $16 million in the prior year. During the prior quarter, the company completed its annual review of life insurance assumptions and recorded an after-tax charge of $74 million primarily driven by assumption changes due to emerging mortality experience as well as adjustments from lower forward interest rates. Results versus the prior quarter also reflect higher seasonal premiums in the company’s term life block of business offset by unfavorable mortality in the company’s universal life insurance block of business. Compared to the prior year, the current quarter reflected higher lapses resulting in lower insurance premiums and accelerated write-off of deferred acquisition costs (DAC) primarily associated with the large 20-year term life insurance blocks entering their post-level premium periods and unfavorable mortality in the company’s universal life insurance block of business.
 
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Fixed Annuities
Fixed annuities reported adjusted operating income of $28 million, compared with an adjusted operating loss of $1 million in the prior quarter and adjusted operating income of $23 million in the prior year. Current quarter results reflect favorable mortality and a lower tax rate. Results in the prior quarter included a net after-tax charge of $30 million from loss recognition testing and assumption updates.
Runoff
Runoff reported adjusted operating income of $10 million, compared with $13 million in the prior quarter and $14 million in the prior year, reflecting unfavorable equity market performance supporting the company’s variable annuity business versus the prior quarter and prior year.
Corporate And Other
Corporate and Other reported an adjusted operating loss of $59 million, compared with adjusted operating income of $390 million in the prior quarter and an adjusted operating loss of $46 million in the prior year. Given the change in the corporate tax rate, the current period results reflect a lower tax benefit offsetting the Corporate and Other pre-tax loss. Results in the prior quarter included a net favorable impact of $456 million related to deferred taxes due to the combination of tax reform, business forecast improvements and other items. Results in the prior quarter also included an unfavorable $11 million tax charge related to the Australia MI premium earnings pattern review. The first quarter of 2017 included a favorable $7 million after-tax correction to the company’s Tax Matters Agreement liability.
 
7

Capital & Liquidity
Genworth maintains the following capital positions in its operating subsidiaries:

Key Capital & Liquidity Metrics
(Dollar amounts in millions)	  	Q1 18	 	 	Q4 17	 	 	Q1 17	 	
U.S. MI	  				 				 				
Consolidated Risk-To-Capital Ratio 5  	  	 	12.5:1	 	 	 	12.7:1	 	 	 	13.6:1	 	
Genworth Mortgage Insurance Corporation Risk-To-Capital Ratio 5	  	 	12.7:1	 	 	 	12.9:1	 	 	 	13.7:1	 	
Private Mortgage Insurer Eligibility Requirements (PMIERs) Sufficiency Ratio 6	  	 	124	% 	 	 	121	% 	 	 	118	% 	
Canada MI	  				 				 				
Minimum Capital Test (MCT) Ratio 5	  	 	170	% 	 	 	172	% 	 	 	162	% 	
Australia MI	  				 				 				
Prescribed Capital Amount (PCA) Ratio 5	  	 	185	% 	 	 	193	% 	 	 	171	% 	
U.S. Life Insurance Companies	  				 				 				
Consolidated Risk-Based Capital (RBC) Ratio 5	  	 	280	% 	 	 	282	% 	 	 	326	% 	
Holding Company 7 Cash and Liquid Assets 8	  	$	1,204		 	$	870		 	$	999		
Key Points
 
•	 	U.S. MI’s PMIERs sufficiency ratio increased to 124 percent as an increase in operating cash flows and lower non-performing required assets were partially offset by higher required assets associated with strong new business written. The PMIERs sufficiency ratio remained negatively impacted by approximately four points related to the incremental hurricane delinquency inventory;	
 
•	 	Canada MI’s MCT ratio as of March 31, 2018 is estimated to be 170 percent, above both the regulatory minimum requirement of 150 percent and an operating range of 160 to 165 percent;	
 
•	 	Australia MI’s capital levels decreased sequentially to 185 percent driven primarily by lower levels of reinsurance and capital returns to shareholders; and	
 
•	 	The holding company ended the quarter with $1,204 million of cash and liquid assets, of which approximately $600 million is dedicated to pay the May 2018 debt maturity.	

5  	Company estimate for the first quarter of 2018 due to timing of the filing of statutory statements.	
6  	Calculated as available assets divided by required assets as defined within PMIERs. As of March 31, 2018, December 31, 2017 and March 31, 2017, the PMIERs sufficiency ratios were in excess of approximately $600 million, $550 million and $400 million, respectively, of available assets above the PMIERs requirements. Company estimate for the first quarter of 2018.	
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 had $1,129 million, $795 million and $849 million of cash, cash equivalents and restricted cash as of March 31, 2018, December 31, 2017 and March 31, 2017, respectively, which included approximately $4 million, $4 million, and $33 million of restricted cash, respectively. Genworth Holdings also held $75 million, $75 million and $150 million in U.S. government securities as of March 31, 2018, December 31, 2017 and March 31, 2017, respectively, which included approximately $37 million, $41 million, and $41 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 first quarter 2018 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 May 2, 2018. Investors are encouraged to review these materials.
Genworth will conduct a conference call on May 2, 2018 at 8:00 a.m. (ET) to discuss business results and provide an update on strategic objectives including the pending transaction with China Oceanwide Holdings Group Co., Ltd. The 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 # 5788286. 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.
Replays of the call will be available through May 16, 2018 at 888 203.1112 or 719 457.0820 (outside the U.S.); conference ID # 5788286. The webcast will also be archived on the company’s website for one year.
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) 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
 
9

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.
On December 22, 2017, the Tax Cuts and Jobs Act (“TCJA”) was signed into law. The TCJA reduced the U.S. corporate federal income tax rate to 21 percent effective for taxable years beginning on January 1, 2018 and migrated the worldwide tax system to a territorial international tax system. Therefore, beginning on January 1, 2018, the company taxed its international businesses at their local statutory tax rates and its domestic businesses at the new enacted tax rate of 21 percent. The company allocates its consolidated provision for income taxes to its operating segments. The company’s allocation methodology applies a specific 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 income. 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.
In the first quarter of 2018, the company assumed a tax rate of 21 percent on certain adjustments to reconcile net income available to Genworth Financial Inc.’s common stockholders and adjusted operating income and in the explanation of specific variances of operating performance (unless otherwise indicated). In the prior year, the company assumed a tax rate of 35 percent, the previous U.S. corporate federal income tax rate prior to the enactment of the TCJA, on certain adjustments to reconcile net income available to Genworth Financial Inc.’s common stockholders and adjusted operating income and in the explanation of specific variances of operating performance. 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.
The company recorded a pre-tax expense of $1 million in the first quarter of 2017 related to restructuring costs as the company continued 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.
 
10

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 March 31, 2018 and 2017, as well as for the three months ended December 31, 2017, 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 core yield to reported U.S. GAAP yield is included in a table at the end of this press release.
Definition of Selected Operating Performance Measures
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. 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 business 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. 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.
 
11

Cautionary Note Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company’s future business and financial performance. Examples of forward-looking statements include statements the company makes relating to the transaction with China Oceanwide Holdings Group Co., Ltd. (China Oceanwide) and the company’s discussions with regulators in connection therewith. 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 China Oceanwide including: the company’s inability to complete the transaction in a timely manner or at all; the parties’ inability to obtain regulatory approvals, including from the Committee on Foreign Investment in the United States (CFIUS), or the possibility that such regulatory approvals may further delay the transaction or will not be received prior to July 1, 2018 (and either or both of the parties may not be willing to further waive their end date termination rights beyond July 1, 2018) or that materially burdensome or adverse regulatory conditions may be imposed or undesirable measures may be required in connection with any such regulatory approvals, including any mitigation approaches that may be necessary to obtain CFIUS approval (including conditions or measures that either or both of the parties may be unwilling to accept or undertake, as applicable); the risk that the parties will not be able to obtain other regulatory approvals or regulatory approvals may further delay the transaction; existing and potential legal proceedings may be instituted against the company in connection with the transaction that may delay the transaction, make it more costly or ultimately preclude it; the risk that the proposed transaction disrupts the company’s current plans and operations as a result of the announcement and consummation of the transaction; certain restrictions during the pendency of the transaction 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 transaction; 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; the amount of the costs, fees, expenses and other charges related to the transaction; the risks related to diverting management’s attention from the company’s ongoing business operations; the merger agreement may be terminated in circumstances that would require the company to pay China Oceanwide a fee; 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 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 China 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 its U.S. life insurance businesses, debt obligations, cost savings, ratings and capital); the company’s ability to continue to sell long term care insurance policies; 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	
 
12

 	anticipated or the benefits achieved being less than anticipated; inability to achieve anticipated cost-savings in a timely manner; and adverse tax or accounting charges; and the company’s ability to increase the capital needed in its businesses in a timely manner and on anticipated terms, including through improved 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); inaccurate models; deviations from the company’s estimates and actuarial assumptions or other reasons in its long-term care insurance, life insurance and/or annuity businesses; accelerated amortization of deferred acquisition costs (“DAC”) and present value of future profits (“PVFP”) (including as a result of any changes it may make to its assumptions, methodologies or otherwise in connection with periodic or other reviews); adverse impact on the company’s financial results as a result of projected profits followed by projected losses (as is currently the case with its long-term care insurance business); adverse impact on the company’s results of operations and changes in valuation of fixed maturity, and equity securities;	
 
 	•	 	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 (particularly given the historically low interest rate environment) 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 and hazardous financial condition standards; 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); 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	
 
13

 	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 its 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 sufficiently, and in a timely manner, premiums on in force long term care insurance policies and/or reduce in force benefits, and charge higher premiums on new 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 company’s failure to obtain any necessary regulatory approvals or unwillingness or inability of policyholders to pay increased premiums), including to offset any impact on the company’s margins; failure to sufficiently increase new sales for the company’s long term care insurance products; 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: occurrence of natural or man-made disasters or a pandemic; 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.	
 
14

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
March 31,	 	  	Three months ended
December 31,	 	
 	  	2018	 	 	2017	 	  	2017	 	
Revenues:	  				 				  				
Premiums	  	$	1,140		 	$	1,136		  	$	622		
Net investment income	  	 	804		 	 	790		  	 	812		
Net investment gains (losses)	  	 	(31	) 	 	 	34		  	 	45		
Policy fees and other income	  	 	202		 	 	211		  	 	207		
	  	 	 	 	 	 	 	 	  	 	 	 	
Total revenues	  	 	2,115		 	 	2,171		  	 	1,686		
	  	 	 	 	 	 	 	 	  	 	 	 	
Benefits and expenses:	  				 				  				
Benefits and other changes in policy reserves	  	 	1,311		 	 	1,246		  	 	1,383		
Interest credited	  	 	156		 	 	167		  	 	152		
Acquisition and operating expenses, net of deferrals	  	 	240		 	 	270		  	 	247		
Amortization of deferred acquisition costs and intangibles	  	 	104		 	 	94		  	 	119		
Interest expense	  	 	76		 	 	62		  	 	75		
	  	 	 	 	 	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	1,887		 	 	1,839		  	 	1,976		
	  	 	 	 	 	 	 	 	  	 	 	 	
Income (loss) from continuing operations before income taxes	  	 	228		 	 	332		  	 	(290	) 	
Provision (benefit) for income taxes	  	 	63		 	 	116		  	 	(555	) 	
	  	 	 	 	 	 	 	 	  	 	 	 	
Income from continuing operations	  	 	165	 	 	 	216	 	  	 	265	 	
Loss from discontinued operations, net of taxes	  	 	—  		 	 	—  		  	 	—  		
	  	 	 	 	 	 	 	 	  	 	 	 	
Net income	  	 	165		 	 	216		  	 	265		
Less: net income (loss) attributable to noncontrolling interests	  	 	53		 	 	61		  	 	(88	) 	
	  	 	 	 	 	 	 	 	  	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders	  	$	112		 	$	155		  	$	353		
	  	 	 	 	 	 	 	 	  	 	 	 	
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders per share:	  				 				  				
Basic	  	$	0.22		 	$	0.31		  	$	0.71		
	  	 	 	 	 	 	 	 	  	 	 	 	
Diluted	  	$	0.22		 	$	0.31		  	$	0.70		
	  	 	 	 	 	 	 	 	  	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders per share:	  				 				  				
Basic	  	$	0.22		 	$	0.31		  	$	0.71		
	  	 	 	 	 	 	 	 	  	 	 	 	
Diluted	  	$	0.22		 	$	0.31		  	$	0.70		
	  	 	 	 	 	 	 	 	  	 	 	 	
Weighted-average common shares outstanding:	  				 				  				
Basic	  	 	499.6		 	 	498.6		  	 	499.2		
	  	 	 	 	 	 	 	 	  	 	 	 	
Diluted	  	 	502.7		 	 	501.0		  	 	502.1		

16

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

 	  	Three
months ended
March 31,	 	 	Three
months ended
December 31,	 	
 	  	2018	 	 	2017	 	 	2017	 	
Net income available to Genworth Financial, Inc.’s common stockholders	  	$	112		 	$	155		 	$	353	 	
Add: net income (loss) attributable to noncontrolling interests	  	 	53		 	 	61		 	 	(88	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income	  	 	165		 	 	216		 	 	265	 	
Loss from discontinued operations, net of taxes	  	 	—  		 	 	—  		 	 	—  		
	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations	  	 	165		 	 	216		 	 	265	 	
Less: income (loss) from continuing operations attributable to noncontrolling interests	  	 	53		 	 	61		 	 	(88	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders	  	 	112		 	 	155		 	 	353	 	
Adjustments to income from continuing operations available to Genworth	  				 				 				
Financial, Inc.’s common stockholders:	  				 				 				
Net investment (gains) losses, net 9	  	 	17		 	 	(20	) 	 	 	(41	) 	
Expenses related to restructuring	  	 	—  		 	 	1		 	 	—  	 	
Taxes on adjustments	  	 	(4	) 	 	 	7		 	 	14	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income	  	$	125		 	$	143		 	$	326	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income (loss):	  				 				 				
U.S. Mortgage Insurance segment	  	$	111		 	$	73		 	$	74	 	
Canada Mortgage Insurance segment	  	 	49		 	 	36		 	 	43	 	
Australia Mortgage Insurance segment	  	 	19		 	 	13		 	 	(125	) 	
U.S. Life Insurance segment:	  				 				 				
Long Term Care Insurance	  	 	(32	) 	 	 	14		 	 	17	 	
Life Insurance	  	 	(1	) 	 	 	16		 	 	(85	) 	
Fixed Annuities	  	 	28		 	 	23		 	 	(1	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance segment	  	 	(5	) 	 	 	53		 	 	(69	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Runoff segment	  	 	10		 	 	14		 	 	13	 	
Corporate and Other	  	 	(59	) 	 	 	(46	) 	 	 	390	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income	  	$	125		 	$	143		 	$	326	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders per share:	  				 				 				
Basic	  	$	0.22		 	$	0.31		 	$	0.71	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.22		 	$	0.31		 	$	0.70	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Adjusted operating income per share:	  				 				 				
Basic	  	$	0.25		 	$	0.29		 	$	0.65	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.25		 	$	0.29		 	$	0.65	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Weighted-average common shares outstanding:	  				 				 				
Basic	  	 	499.6		 	 	498.6		 	 	499.2	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	 	502.7		 	 	501.0		 	 	502.1	 	

9  	For the three months ended March 31, 2018 and 2017 and the three months ended December 31, 2017, net investment gains (losses) were adjusted for DAC and intangible assets amortization and certain benefit reserves of $(3) million, zero and $(3) million, respectively, and adjusted for net investment gains (losses) attributable to noncontrolling interests of $(11) million, $14 million and $7 million, respectively.	
 
17

Condensed Consolidated Balance Sheets
(Amounts in millions)

 	  	March 31,
2018	 	 	December 31,
2017	 	
 	  	(Unaudited)	 	 	 	 	
Assets	  				 				
Cash, cash equivalents, restricted cash and invested assets	  	$	75,318		 	$	76,911		
Deferred acquisition costs	  	 	2,699		 	 	2,329		
Intangible assets and goodwill	  	 	339		 	 	301		
Reinsurance recoverable	  	 	17,482		 	 	17,569		
Deferred tax and other assets	  	 	1,033		 	 	957		
Separate account assets	  	 	6,902		 	 	7,230		
	  	 	 	 	 	 	 	 	
Total assets	  	$	103,773		 	$	105,297		
	  	 	 	 	 	 	 	 	
Liabilities and equity	  				 				
Liabilities:	  				 				
Future policy benefits	  	$	37,946		 	$	38,472		
Policyholder account balances	  	 	23,751		 	 	24,195		
Liability for policy and contract claims	  	 	9,651		 	 	9,594		
Unearned premiums	  	 	3,797		 	 	3,967		
Deferred tax and other liabilities	  	 	1,868		 	 	1,937		
Borrowings related to securitization entities	  	 	32		 	 	40		
Non-recourse funding obligations	  	 	310		 	 	310		
Long-term borrowings	  	 	4,654		 	 	4,224		
Separate account liabilities	  	 	6,902		 	 	7,230		
	  	 	 	 	 	 	 	 	
Total liabilities	  	 	88,911		 	 	89,969		
	  	 	 	 	 	 	 	 	
Equity:	  				 				
Common stock	  	 	1		 	 	1		
Additional paid-in capital	  	 	11,979		 	 	11,977		
	  	 	 	 	 	 	 	 	
Accumulated other comprehensive income (loss):	  				 				
Net unrealized investment gains (losses):	  				 				
Net unrealized gains (losses) on securities not other-than-temporarily impaired	  	 	905		 	 	1,075		
Net unrealized gains (losses) on other-than-temporarily impaired securities	  	 	12		 	 	10		
	  	 	 	 	 	 	 	 	
Net unrealized investment gains (losses)	  	 	917		 	 	1,085		
	  	 	 	 	 	 	 	 	
Derivatives qualifying as hedges	  	 	1,927		 	 	2,065		
Foreign currency translation and other adjustments	  	 	(217	) 	 	 	(123	) 	
	  	 	 	 	 	 	 	 	
Total accumulated other comprehensive income (loss)	  	 	2,627		 	 	3,027		
Retained earnings	  	 	1,111		 	 	1,113		
Treasury stock, at cost	  	 	(2,700	) 	 	 	(2,700	) 	
	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	13,018		 	 	13,418		
Noncontrolling interests	  	 	1,844		 	 	1,910		
	  	 	 	 	 	 	 	 	
Total equity	  	 	14,862		 	 	15,328		
	  	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	103,773		 	$	105,297		

18

Impact of Foreign Exchange on Adjusted Operating Income and Flow New Insurance Written 10
Three months ended March 31, 2018

 	  	Percentages
Including Foreign
Exchange	 	 	Percentages
Excluding Foreign
Exchange 11	 	
Canada Mortgage Insurance (MI):	  				 				
Adjusted operating income	  	 	36	% 	 	 	28	% 	
Flow new insurance written	  	 	9	% 	 	 	4	% 	
Flow new insurance written (1Q18 vs. 4Q17)	  	 	(31	)% 	 	 	(31	)% 	
			
Australia MI:	  				 				
Adjusted operating income	  	 	46	% 	 	 	38	% 	
Flow new insurance written	  	 	(17	)% 	 	 	(20	)% 	
Flow new insurance written (1Q18 vs. 4Q17)	  	 	(19	)% 	 	 	(19	)% 	

10  	All percentages are comparing the first quarter of 2018 to the first quarter of 2017 unless otherwise stated.	
11	The impact of foreign exchange was calculated using the comparable prior period exchange rates.	
 
19

Reconciliation of Core Yield to Reported Yield

 	  	Three
months ended
March 31,
2018	 	
(Assets - amounts in billions)	  				
Reported Total Invested Assets and Cash	  	$	74.6	 	
Subtract:	  				
Securities lending	  	 	0.2	 	
Unrealized gains (losses)	  	 	3.7	 	
	  	 	 	 	
Adjusted end of period invested assets	  	$	70.7	 	
	  	 	 	 	
Average Invested Assets Used in Reported Yield Calculation	  	$	70.7	 	
Subtract:	  				
Restricted commercial mortgage loans related to securitization entities 12	  	 	0.1	 	
	  	 	 	 	
Average Invested Assets Used in Core Yield Calculation	  	$	70.6	 	
	  	 	 	 	
(Income - amounts in millions)	  				
Reported Net Investment Income	  	$	804	 	
Subtract:	  				
Bond calls and commercial mortgage loan prepayments	  	 	11	 	
Other non-core items 13	  	 	(2	) 	
Restricted commercial mortgage loans related to securitization entities 12	  	 	1	 	
	  	 	 	 	
Core Net Investment Income	  	$	794	 	
	  	 	 	 	
Reported Yield	  	 	4.55	% 	
	  	 	 	 	
Core Yield	  	 	4.50	% 	

12  	Represents the incremental assets and investment income related to restricted commercial mortgage loans and other invested assets.	
13  	Includes cost basis adjustments on structured securities and various other immaterial items.	
 
20

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Exhibit 99.2

 
 
First Quarter Financial Supplement March 31, 2018

Table of Contents
 GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018

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 by Quarter	  	 	8	 	
Reconciliation of Net Income to Adjusted Operating Income	  	 	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—Canada Mortgage Insurance Segment	  	 	24-27	 	
Adjusted Operating Income (Loss) and Sales—Australia Mortgage Insurance Segment	  	 	29-32	 	
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment	  	 	34-37	 	
Adjusted Operating Income—Runoff Segment	  	 	39	 	
Adjusted Operating Income (Loss)—Corporate and Other Activities	  	 	41	 	
		
Additional Financial Data	  				
Investments Summary	  	 	43	 	
Fixed Maturity Securities Summary	  	 	44	 	
General Account U.S. GAAP Net Investment Income Yields	  	 	45	 	
Net Investment Gains (Losses), Net—Detail	  	 	46	 	
		
Reconciliations of Non-GAAP Measures	  				
Reconciliation of Operating Return On Equity (ROE)	  	 	48	 	
Reconciliation of Core Yield	  	 	49	 	
		
Corporate Information	  				
Financial Strength Ratings	  	 	51	 	
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

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Dear Investor,
Thank you for your continued interest in Genworth Financial.
Regards,
Investor Relations
InvestorInfo@genworth.com
 
3

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 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) 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.
On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was signed into law. The TCJA reduced the U.S. corporate federal income tax rate to 21% effective for taxable years beginning on January 1, 2018. Therefore, in the first quarter of 2018, the company assumed a tax rate of 21% on certain adjustments to reconcile net income available to Genworth Financial, Inc.’s common stockholders and adjusted operating income (unless otherwise indicated). In the prior year, the company assumed a tax rate of 35%, the previous U.S. corporate federal income tax rate prior to the enactment of the TCJA, on certain adjustments to reconcile net income available to Genworth Financial, Inc.’s common stockholders and adjusted operating income. 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 46).
In the third and first quarters of 2017, the company recorded a pre-tax expense of $1 million related to restructuring costs as the company continued to evaluate and appropriately size its organizational needs and expenses. There were no infrequent or unusual items excluded from adjusted operating income (loss) during the periods presented.
The table on page 9 of this financial supplement provides a reconciliation of net income available to Genworth Financial, Inc.’s common stockholders to adjusted operating income for the periods presented and reflects adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting. The 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 48 and 49 of this financial supplement.
 
4

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
 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 available to Genworth Financial, Inc.’s common stockholders to adjusted operating income for the periods presented and reflects adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting.
On December 22, 2017, the TCJA was signed into law. The TCJA reduced the U.S. corporate federal income tax rate to 21% effective for taxable years beginning on January 1, 2018 and migrated the worldwide tax system to a territorial international tax system. Therefore, beginning on January 1, 2018 the company taxed its international businesses at their local statutory tax rates and its domestic businesses at the new enacted tax rate of 21%. The company allocates its consolidated provision for income taxes to its operating segments. The allocation methodology applies a specific 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 income. 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. 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 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 U.S. mortgage insurance business is based on the coverage percentage applied to the estimated current outstanding loan balance. For risk in-force in the mortgage insurance businesses in Canada and Australia, the company 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 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 businesses in Canada and Australia. In Australia, the company 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. The company considers insurance in-force and risk in-force to be measures of the company’s operating performance because they represent measures of the size of the business at a specific date which will generate revenues and profits in a future period, rather than measures of the company’s 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.
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
 Financial Highlights
(amounts in millions, except per share data)

Balance Sheet Data	  	March 31,
2018	 	 	December 31,
2017	 	 	September 30,
2017	 	 	June 30,
2017	 	 	March 31,
2017	 	
Total Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income	  	$	10,391	 	 	$	10,391	 	 	$	10,034	 	 	$	9,923	 	 	$	9,716	 	
Total accumulated other comprehensive income	  	 	2,627	 	 	 	3,027	 	 	 	3,035	 	 	 	3,095	 	 	 	3,096	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	$	13,018	 	 	$	13,418	 	 	$	13,069	 	 	$	13,018	 	 	$	12,812	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Book value per share	  	$	26.00	 	 	$	26.88	 	 	$	26.19	 	 	$	26.08	 	 	$	25.68	 	
Book value per share, excluding accumulated other comprehensive income	  	$	20.76	 	 	$	20.82	 	 	$	20.10	 	 	$	19.88	 	 	$	19.47	 	
Common shares outstanding as of the balance sheet date	  	 	500.6	 	 	 	499.2	 	 	 	499.1	 	 	 	499.1	 	 	 	498.9	 	
		
 	  	Twelve months ended	 	
Twelve Month Rolling Average ROE	  	March 31,
2018	 	 	December 31,
2017	 	 	September 30,
2017	 	 	June 30,
2017	 	 	March 31,
2017	 	
U.S. GAAP Basis ROE	  	 	7.7	% 	 	 	8.2	% 	 	 	3.5	% 	 	 	-1.5	% 	 	 	-1.8	% 	
Operating ROE (1)	  	 	6.7	% 	 	 	7.0	% 	 	 	2.4	% 	 	 	-2.5	% 	 	 	-2.8	% 	
		
 	  	Three months ended	 	
Quarterly Average ROE	  	March 31,
2018	 	 	December 31,
2017	 	 	September 30,
2017	 	 	June 30,
2017	 	 	March 31,
2017	 	
U.S. GAAP Basis ROE	  	 	4.3	% 	 	 	13.8	% 	 	 	4.3	% 	 	 	8.2	% 	 	 	6.4	% 	
Operating ROE (1)	  	 	4.8	% 	 	 	12.8	% 	 	 	3.0	% 	 	 	6.2	% 	 	 	5.9	% 	

Basic and Diluted Shares	  	Three months ended
March 31, 2018	 	
Weighted-average common shares used in basic earnings per share calculations	  	 	499.6	 	
Potentially dilutive securities:	  				
Stock options, restricted stock units and stock appreciation rights	  	 	3.1	 	
	  	 	 	 	
Weighted-average common shares used in diluted earnings per share calculations	  	 	502.7	 	

(1)  	See page 48 herein for a reconciliation of U.S. GAAP Basis ROE to Operating ROE.	
 
6

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Consolidated Quarterly Results

7

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Consolidated Net Income by Quarter
(amounts in millions, except per share amounts)

 	  	2018	 	 	2017	 	
 	  	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	 				 				 				  				  				
Premiums	  	$	1,140	 	 	$	622	 	 	$	1,135	 	 	$	1,111	 	  	$	1,136	 	  	$	4,004	 	
Net investment income	  	 	804	 	 	 	812	 	 	 	797	 	 	 	801	 	  	 	790	 	  	 	3,200	 	
Net investment gains (losses)	  	 	(31	) 	 	 	45	 	 	 	85	 	 	 	101	 	  	 	34	 	  	 	265	 	
Policy fees and other income	  	 	202	 	 	 	207	 	 	 	198	 	 	 	210	 	  	 	211	 	  	 	826	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	2,115	 	 	 	1,686	 	 	 	2,215	 	 	 	2,223	 	  	 	2,171	 	  	 	8,295	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	 				 				 				  				  				
Benefits and other changes in policy reserves	  	 	1,311	 	 	 	1,383	 	 	 	1,344	 	 	 	1,206	 	  	 	1,246	 	  	 	5,179	 	
Interest credited	  	 	156	 	 	 	152	 	 	 	164	 	 	 	163	 	  	 	167	 	  	 	646	 	
Acquisition and operating expenses, net of deferrals	  	 	240	 	 	 	247	 	 	 	265	 	 	 	240	 	  	 	270	 	  	 	1,022	 	
Amortization of deferred acquisition costs and intangibles	  	 	104	 	 	 	119	 	 	 	83	 	 	 	139	 	  	 	94	 	  	 	435	 	
Interest expense	  	 	76	 	 	 	75	 	 	 	73	 	 	 	74	 	  	 	62	 	  	 	284	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	1,887	 	 	 	1,976	 	 	 	1,929	 	 	 	1,822	 	  	 	1,839	 	  	 	7,566	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	228	 	 	 	(290	) 	 	 	286	 	 	 	401	 	  	 	332	 	  	 	729	 	
Provision (benefit) for income taxes	  	 	63	 	 	 	(555	) 	 	 	102	 	 	 	130	 	  	 	116	 	  	 	(207	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	
INCOME FROM CONTINUING OPERATIONS	  	 	165	 	 	 	265	 	 	 	184	 	 	 	271	 	  	 	216	 	  	 	936	 	
Loss from discontinued operations, net of taxes (1)	  	 	—  	 	 	 	—  	 	 	 	(9	) 	 	 	—  	 	  	 	—  	 	  	 	(9	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME	  	 	165	 	 	 	265	 	 	 	175	 	 	 	271	 	  	 	216	 	  	 	927	 	
Less: net income (loss) attributable to noncontrolling interests	  	 	53	 	 	 	(88	) 	 	 	68	 	 	 	69	 	  	 	61	 	  	 	110	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	$	112	 	 	$	353	 	 	$	107	 	 	$	202	 	  	$	155	 	  	$	817	 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	
Earnings Per Share Data:	  	 	 	 	 				 				 				  				  				
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders per share	  				 				 				 				  				  				
Basic	  	$	0.22	 	 	$	0.71	 	 	$	0.23	 	 	$	0.40	 	  	$	0.31	 	  	$	1.66	 	
Diluted	  	$	0.22	 	 	$	0.70	 	 	$	0.23	 	 	$	0.40	 	  	$	0.31	 	  	$	1.65	 	
Net income available to Genworth Financial, Inc.’s common stockholders per share	  				 				 				 				  				  				
Basic	  	$	0.22	 	 	$	0.71	 	 	$	0.21	 	 	$	0.40	 	  	$	0.31	 	  	$	1.64	 	
Diluted	  	$	0.22	 	 	$	0.70	 	 	$	0.21	 	 	$	0.40	 	  	$	0.31	 	  	$	1.63	 	
Weighted-average common shares outstanding	  				 				 				 				  				  				
Basic	  	 	499.6	 	 	 	499.2	 	 	 	499.1	 	 	 	499.0	 	  	 	498.6	 	  	 	499.0	 	
Diluted	  	 	502.7	 	 	 	502.1	 	 	 	501.6	 	 	 	501.2	 	  	 	501.0	 	  	 	501.4	 	

(1)  	Loss from discontinued operations related to the lifestyle protection insurance business that was sold on December 1, 2015. During the third quarter of 2017, the company recorded an additional after-tax loss of $9 million related to certain claims adjustments and tax items associated with the lifestyle protection insurance business.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Reconciliation of Net Income to Adjusted Operating Income
(amounts in millions, except per share amounts)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
NET INCOME AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	$	112	 	  	$	353	 	 	$	107	 	 	$	202	 	 	$	155	 	 	$	817	 	
Add: net income (loss) attributable to noncontrolling interests	  	 	53	 	  	 	(88	) 	 	 	68	 	 	 	69	 	 	 	61	 	 	 	110	 	
 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME	  	 	165	 	  	 	265	 	 	 	175	 	 	 	271	 	 	 	216	 	 	 	927	 	
Loss from discontinued operations, net of taxes	  	 	—  	 	  	 	—  	 	 	 	(9	) 	 	 	—  	 	 	 	—  	 	 	 	(9	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS	  	 	165	 	  	 	265	 	 	 	184	 	 	 	271	 	 	 	216	 	 	 	936	 	
Less: income (loss) from continuing operations attributable to noncontrolling interests	  	 	53	 	  	 	(88	) 	 	 	68	 	 	 	69	 	 	 	61	 	 	 	110	 	
 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	 	112	 	  	 	353	 	 	 	116	 	 	 	202	 	 	 	155	 	 	 	826	 	
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	  			 	  				 				 				 				 				
Net investment (gains) losses, net (1)	  	 	17	 	  	 	(41	) 	 	 	(62	) 	 	 	(79	) 	 	 	(20	) 	 	 	(202	) 	
Expenses related to restructuring	  	 	—  	 	  	 	—  	 	 	 	1	 	 	 	—  	 	 	 	1	 	 	 	2	 	
Taxes on adjustments	  	 	(4	) 	  	 	14	 	 	 	21	 	 	 	28	 	 	 	7	 	 	 	70	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME	  	$	125	 	  	$	326	 	 	$	76	 	 	$	151	 	 	$	143	 	 	$	696	 	

ADJUSTED OPERATING INCOME (LOSS):	  			 	  				 				 				 				 				
U.S. Mortgage Insurance segment	  	$	111	 	  	$	74	 	 	$	73	 	 	$	91	 	 	$	73	 	 	$	311	 	
Canada Mortgage Insurance segment	  	 	49	 	  	 	43	 	 	 	37	 	 	 	41	 	 	 	36	 	 	 	157	 	
Australia Mortgage Insurance segment	  	 	19	 	  	 	(125	) 	 	 	12	 	 	 	12	 	 	 	13	 	 	 	(88	) 	
U.S. Life Insurance segment:	  			 	  				 				 				 				 				
Long-Term Care Insurance	  	 	(32	) 	  	 	17	 	 	 	(5	) 	 	 	33	 	 	 	14	 	 	 	59	 	
Life Insurance	  	 	(1	) 	  	 	(85	) 	 	 	(9	) 	 	 	(1	) 	 	 	16	 	 	 	(79	) 	
Fixed Annuities	  	 	28	 	  	 	(1	) 	 	 	13	 	 	 	7	 	 	 	23	 	 	 	42	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance segment	  	 	(5	) 	  	 	(69	) 	 	 	(1	) 	 	 	39	 	 	 	53	 	 	 	22	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Runoff segment	  	 	10	 	  	 	13	 	 	 	13	 	 	 	11	 	 	 	14	 	 	 	51	 	
Corporate and Other	  	 	(59	) 	  	 	390	 	 	 	(58	) 	 	 	(43	) 	 	 	(46	) 	 	 	243	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME	  	$	125	 	  	$	326	 	 	$	76	 	 	$	151	 	 	$	143	 	 	$	696	 	

Earnings Per Share Data:	  				  				 				 				 				 				
Net income available to Genworth Financial, Inc.’s common stockholders per share	  				  				 				 				 				 				
Basic	  	$	0.22	 	  	$	0.71	 	 	$	0.21	 	 	$	0.40	 	 	$	0.31	 	 	$	1.64	 	
Diluted	  	$	0.22	 	  	$	0.70	 	 	$	0.21	 	 	$	0.40	 	 	$	0.31	 	 	$	1.63	 	
Adjusted operating income per share	  				  				 				 				 				 				
Basic	  	$	0.25	 	  	$	0.65	 	 	$	0.15	 	 	$	0.30	 	 	$	0.29	 	 	$	1.40	 	
Diluted	  	$	0.25	 	  	$	0.65	 	 	$	0.15	 	 	$	0.30	 	 	$	0.29	 	 	$	1.39	 	
Weighted-average common shares outstanding	  				  				 				 				 				 				
Basic	  	 	499.6	 	  	 	499.2	 	 	 	499.1	 	 	 	499.0	 	 	 	498.6	 	 	 	499.0	 	
Diluted	  	 	502.7	 	  	 	502.1	 	 	 	501.6	 	 	 	501.2	 	 	 	501.0	 	 	 	501.4	 	

(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 46 for reconciliation).	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Consolidated Balance Sheets
(amounts in millions)

 	 	March 31,
2018	 	  	December 31,
2017	 	  	September 30,
2017	 	  	June 30,
2017	 	  	March 31,
2017	 	
ASSETS	 			 	  				  				  				  				
Investments:	 			 	  				  				  				  				
Fixed maturity securities available-for-sale, at fair value	 	$	61,080	 	  	$	62,525	 	  	$	62,552	 	  	$	61,944	 	  	$	60,597	 	
Equity securities, at fair value	 	 	799	 	  	 	820	 	  	 	765	 	  	 	855	 	  	 	709	 	
Commercial mortgage loans	 	 	6,336	 	  	 	6,341	 	  	 	6,268	 	  	 	6,237	 	  	 	6,107	 	
Restricted commercial mortgage loans related to securitization entities	 	 	99	 	  	 	107	 	  	 	111	 	  	 	118	 	  	 	122	 	
Policy loans	 	 	1,789	 	  	 	1,786	 	  	 	1,818	 	  	 	1,824	 	  	 	1,761	 	
Other invested assets	 	 	1,674	 	  	 	1,813	 	  	 	1,590	 	  	 	2,177	 	  	 	2,272	 	
Restricted other invested assets related to securitization entities	 	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	81	 	  	 	84	 	
	 	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total investments	 	 	71,777	 	  	 	73,392	 	  	 	73,104	 	  	 	73,236	 	  	 	71,652	 	
Cash, cash equivalents and restricted cash	 	 	2,843	 	  	 	2,875	 	  	 	2,836	 	  	 	2,853	 	  	 	3,018	 	
Accrued investment income	 	 	698	 	  	 	644	 	  	 	639	 	  	 	599	 	  	 	717	 	
Deferred acquisition costs	 	 	2,699	 	  	 	2,329	 	  	 	2,342	 	  	 	2,378	 	  	 	3,207	 	
Intangible assets and goodwill	 	 	339	 	  	 	301	 	  	 	315	 	  	 	334	 	  	 	381	 	
Reinsurance recoverable	 	 	17,482	 	  	 	17,569	 	  	 	17,553	 	  	 	17,609	 	  	 	17,681	 	
Other assets	 	 	431	 	  	 	453	 	  	 	552	 	  	 	715	 	  	 	703	 	
Deferred tax asset	 	 	602	 	  	 	504	 	  	 	24	 	  	 	23	 	  	 	—  	 	
Separate account assets	 	 	6,902	 	  	 	7,230	 	  	 	7,264	 	  	 	7,269	 	  	 	7,327	 	
	 	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total assets	 	$	103,773	 	  	$	105,297	 	  	$	104,629	 	  	$	105,016	 	  	$	104,686	 	

 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
Consolidated Balance Sheets
(amounts in millions)

 	  	March 31,
2018	 	  	December 31,
2017	 	 	September 30,
2017	 	 	June 30,
2017	 	 	March 31,
2017	 	
LIABILITIES AND EQUITY	  			 	  				 				 				 				
Liabilities:	  			 	  				 				 				 				
Future policy benefits	  	$	37,946	 	  	$	38,472	 	 	$	38,022	 	 	$	37,772	 	 	$	37,291	 	
Policyholder account balances	  	 	23,751	 	  	 	24,195	 	 	 	24,531	 	 	 	24,971	 	 	 	25,383	 	
Liability for policy and contract claims	  	 	9,651	 	  	 	9,594	 	 	 	9,384	 	 	 	9,239	 	 	 	9,295	 	
Unearned premiums	  	 	3,797	 	  	 	3,967	 	 	 	3,512	 	 	 	3,400	 	 	 	3,370	 	
Other liabilities	  	 	1,841	 	  	 	1,910	 	 	 	2,002	 	 	 	2,629	 	 	 	2,657	 	
Borrowings related to securitization entities	  	 	32	 	  	 	40	 	 	 	59	 	 	 	63	 	 	 	68	 	
Non-recourse funding obligations	  	 	310	 	  	 	310	 	 	 	310	 	 	 	310	 	 	 	310	 	
Long-term borrowings	  	 	4,654	 	  	 	4,224	 	 	 	4,224	 	 	 	4,205	 	 	 	4,194	 	
Deferred tax liability	  	 	27	 	  	 	27	 	 	 	234	 	 	 	162	 	 	 	75	 	
Separate account liabilities	  	 	6,902	 	  	 	7,230	 	 	 	7,264	 	 	 	7,269	 	 	 	7,327	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities	  	 	88,911	 	  	 	89,969	 	 	 	89,542	 	 	 	90,020	 	 	 	89,970	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Equity:	  			 	  				 				 				 				
Common stock	  	 	1	 	  	 	1	 	 	 	1	 	 	 	1	 	 	 	1	 	
Additional paid-in capital	  	 	11,979	 	  	 	11,977	 	 	 	11,973	 	 	 	11,969	 	 	 	11,964	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Accumulated other comprehensive income (loss):	  			 	  				 				 				 				
Net unrealized investment gains (losses):	  			 	  				 				 				 				
Net unrealized gains (losses) on securities not other-than-temporarily impaired	  	 	905	 	  	 	1,075	 	 	 	1,098	 	 	 	1,170	 	 	 	1,233	 	
Net unrealized gains (losses) on other-than-temporarily impaired securities	  	 	12	 	  	 	10	 	 	 	10	 	 	 	10	 	 	 	10	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net unrealized investment gains (losses)	  	 	917	 	  	 	1,085	 	 	 	1,108	 	 	 	1,180	 	 	 	1,243	 	
Derivatives qualifying as hedges	  	 	1,927	 	  	 	2,065	 	 	 	2,052	 	 	 	2,064	 	 	 	2,036	 	
Foreign currency translation and other adjustments	  	 	(217	) 	  	 	(123	) 	 	 	(125	) 	 	 	(149	) 	 	 	(183	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total accumulated other comprehensive income	  	 	2,627	 	  	 	3,027	 	 	 	3,035	 	 	 	3,095	 	 	 	3,096	 	
Retained earnings	  	 	1,111	 	  	 	1,113	 	 	 	760	 	 	 	653	 	 	 	451	 	
Treasury stock, at cost	  	 	(2,700	) 	  	 	(2,700	) 	 	 	(2,700	) 	 	 	(2,700	) 	 	 	(2,700	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	13,018	 	  	 	13,418	 	 	 	13,069	 	 	 	13,018	 	 	 	12,812	 	
Noncontrolling interests	  	 	1,844	 	  	 	1,910	 	 	 	2,018	 	 	 	1,978	 	 	 	1,904	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total equity	  	 	14,862	 	  	 	15,328	 	 	 	15,087	 	 	 	14,996	 	 	 	14,716	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 Total liabilities and equity	  	$	103,773	 	  	$	105,297	 	 	$	104,629	 	 	$	105,016	 	 	$	104,686	 	

 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Consolidated Balance Sheet by Segment
(amounts in millions)

 	 	March 31, 2018	 	
 	 	U.S.
Mortgage
Insurance	 	 	Canada
Mortgage
Insurance	 	 	Australia
Mortgage
Insurance	 	 	U.S. Life
Insurance	 	 	Runoff	 	 	Corporate and
Other (1) 	 	 	Total	 	
ASSETS	 				 				 				 				 				 				 				
Cash and investments	 	$	3,089	 	 	$	5,057	 	 	$	2,543	 	 	$	60,984	 	 	$	2,749	 	 	$	896	 	 	$	75,318	 	
Deferred acquisition costs and intangible assets	 	 	47	 	 	 	141	 	 	 	94	 	 	 	2,519	 	 	 	229	 	 	 	8	 	 	 	3,038	 	
Reinsurance recoverable	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	16,697	 	 	 	785	 	 	 	—  	 	 	 	17,482	 	
Deferred tax and other assets	 	 	180	 	 	 	109	 	 	 	192	 	 	 	(267	) 	 	 	18	 	 	 	801	 	 	 	1,033	 	
Separate account assets	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	6,902	 	 	 	—  	 	 	 	6,902	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total assets	 	$	3,316	 	 	$	5,307	 	 	$	2,829	 	 	$	79,933	 	 	$	10,683	 	 	$	1,705	 	 	$	103,773	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LIABILITIES AND EQUITY	 				 				 				 				 				 				 				
Liabilities:	 				 				 				 				 				 				 				
Future policy benefits	 	$	—  	 	 	$	—  	 	 	$	—  	 	 	$	37,944	 	 	$	2	 	 	$	—  	 	 	$	37,946	 	
Policyholder account balances	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	20,765	 	 	 	2,986	 	 	 	—  	 	 	 	23,751	 	
Liability for policy and contract claims	 	 	415	 	 	 	84	 	 	 	211	 	 	 	8,921	 	 	 	13	 	 	 	7	 	 	 	9,651	 	
Unearned premiums	 	 	411	 	 	 	1,606	 	 	 	1,240	 	 	 	535	 	 	 	5	 	 	 	—  	 	 	 	3,797	 	
Non-recourse funding obligations	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	310	 	 	 	—  	 	 	 	—  	 	 	 	310	 	
Deferred tax and other liabilities	 	 	52	 	 	 	239	 	 	 	180	 	 	 	553	 	 	 	46	 	 	 	798	 	 	 	1,868	 	
Borrowings and capital securities	 	 	—  	 	 	 	336	 	 	 	152	 	 	 	—  	 	 	 	—  	 	 	 	4,198	 	 	 	4,686	 	
Separate account liabilities	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	6,902	 	 	 	—  	 	 	 	6,902	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities	 	 	878	 	 	 	2,265	 	 	 	1,783	 	 	 	69,028	 	 	 	9,954	 	 	 	5,003	 	 	 	88,911	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Equity:	 				 				 				 				 				 				 				
Allocated equity, excluding accumulated other comprehensive income (loss)	 	 	2,453	 	 	 	1,929	 	 	 	444	 	 	 	8,099	 	 	 	727	 	 	 	(3,261	) 	 	 	10,391	 	
Allocated accumulated other comprehensive income (loss)	 	 	(15	) 	 	 	(201	) 	 	 	72	 	 	 	2,806	 	 	 	2	 	 	 	(37	) 	 	 	2,627	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	 	 	2,438	 	 	 	1,728	 	 	 	516	 	 	 	10,905	 	 	 	729	 	 	 	(3,298	) 	 	 	13,018	 	
Noncontrolling interests	 	 	—  	 	 	 	1,314	 	 	 	530	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1,844	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total equity	 	 	2,438	 	 	 	3,042	 	 	 	1,046	 	 	 	10,905	 	 	 	729	 	 	 	(3,298	) 	 	 	14,862	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and equity	 	$	3,316	 	 	$	5,307	 	 	$	2,829	 	 	$	79,933	 	 	$	10,683	 	 	$	1,705	 	 	$	103,773	 	

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

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
Consolidated Balance Sheet by Segment
(amounts in millions)

 	  	December 31, 2017	 	
 	  	U.S.
Mortgage
Insurance	 	  	Canada
Mortgage
Insurance	 	 	Australia
Mortgage
Insurance	 	  	U.S. Life
Insurance	 	 	Runoff	 	  	Corporate and
Other (1) 	 	 	Total	 	
ASSETS	  				  				 				  				 				  				 				
Cash and investments	  	$	3,019	 	  	$	5,293	 	 	$	2,664	 	  	$	62,994	 	 	$	2,615	 	  	$	326	 	 	$	76,911	 	
Deferred acquisition costs and intangible assets	  	 	48	 	  	 	147	 	 	 	102	 	  	 	2,101	 	 	 	224	 	  	 	8	 	 	 	2,630	 	
Reinsurance recoverable	  	 	1	 	  	 	—  	 	 	 	—  	 	  	 	16,766	 	 	 	802	 	  	 	—  	 	 	 	17,569	 	
Deferred tax and other assets	  	 	205	 	  	 	94	 	 	 	207	 	  	 	(566	) 	 	 	36	 	  	 	981	 	 	 	957	 	
Separate account assets	  	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	7,230	 	  	 	—  	 	 	 	7,230	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Total assets	  	$	3,273	 	  	$	5,534	 	 	$	2,973	 	  	$	81,295	 	 	$	10,907	 	  	$	1,315	 	 	$	105,297	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
LIABILITIES AND EQUITY	  				  				 				  				 				  				 				
Liabilities:	  				  				 				  				 				  				 				
Future policy benefits	  	$	—  	 	  	$	—  	 	 	$	—  	 	  	$	38,469	 	 	$	3	 	  	$	—  	 	 	$	38,472	 	
Policyholder account balances	  	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	21,138	 	 	 	3,057	 	  	 	—  	 	 	 	24,195	 	
Liability for policy and contract claims	  	 	455	 	  	 	87	 	 	 	218	 	  	 	8,816	 	 	 	11	 	  	 	7	 	 	 	9,594	 	
Unearned premiums	  	 	404	 	  	 	1,700	 	 	 	1,299	 	  	 	560	 	 	 	4	 	  	 	—  	 	 	 	3,967	 	
Non-recourse funding obligations	  	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	310	 	 	 	—  	 	  	 	—  	 	 	 	310	 	
Deferred tax and other liabilities	  	 	71	 	  	 	281	 	 	 	189	 	  	 	483	 	 	 	49	 	  	 	864	 	 	 	1,937	 	
Borrowings and capital securities	  	 	—  	 	  	 	346	 	 	 	154	 	  	 	—  	 	 	 	—  	 	  	 	3,764	 	 	 	4,264	 	
Separate account liabilities	  	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	7,230	 	  	 	—  	 	 	 	7,230	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Total liabilities	  	 	930	 	  	 	2,414	 	 	 	1,860	 	  	 	69,776	 	 	 	10,354	 	  	 	4,635	 	 	 	89,969	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Equity:	  				  				 				  				 				  				 				
Allocated equity, excluding accumulated other comprehensive income (loss)	  	 	2,324	 	  	 	1,885	 	 	 	430	 	  	 	7,831	 	 	 	551	 	  	 	(2,630	) 	 	 	10,391	 	
Allocated accumulated other comprehensive income (loss)	  	 	19	 	  	 	(112	) 	 	 	120	 	  	 	3,688	 	 	 	2	 	  	 	(690	) 	 	 	3,027	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	2,343	 	  	 	1,773	 	 	 	550	 	  	 	11,519	 	 	 	553	 	  	 	(3,320	) 	 	 	13,418	 	
Noncontrolling interests	  	 	—  	 	  	 	1,347	 	 	 	563	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	1,910	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
Total equity	  	 	2,343	 	  	 	3,120	 	 	 	1,113	 	  	 	11,519	 	 	 	553	 	  	 	(3,320	) 	 	 	15,328	 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	
 Total liabilities and equity	  	$	3,273	 	  	$	5,534	 	 	$	2,973	 	  	$	81,295	 	 	$	10,907	 	  	$	1,315	 	 	$	105,297	 	

(1)  	Includes inter-segment eliminations and other businesses that are managed outside the operating segments.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Deferred Acquisition Costs Rollforward
(amounts in millions)

 	  	U.S.
Mortgage
Insurance	 	 	Canada
Mortgage
Insurance	 	 	Australia
Mortgage
Insurance	 	 	U.S. Life
Insurance (1) 	 	 	Runoff (2) 	 	 	Corporate and
Other	 	  	Total	 	
Unamortized balance as of December 31, 2017	  	$	28	 	 	$	131	 	 	$	49	 	 	$	3,569	 	 	$	222	 	 	$	—  	 	  	$	3,999	 	
Costs deferred	  	 	2	 	 	 	8	 	 	 	3	 	 	 	5	 	 	 	—  	 	 	 	—  	 	  	 	18	 	
Amortization, net of interest accretion	  	 	(2	) 	 	 	(11	) 	 	 	(4	) 	 	 	(61	) 	 	 	(8	) 	 	 	—  	 	  	 	(86	) 	
Impact of foreign currency translation	  	 	—  	 	 	 	(3	) 	 	 	(1	) 	 	 	—  	 	 	 	—  	 	 	 	—  	 	  	 	(4	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Unamortized balance as of March 31, 2018	  	 	28	 	 	 	125	 	 	 	47	 	 	 	3,513	 	 	 	214	 	 	 	—  	 	  	 	3,927	 	
Effect of accumulated net unrealized investment (gains) losses	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1,233	) 	 	 	5	 	 	 	—  	 	  	 	(1,228	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Balance as of March 31, 2018	  	$	28	 	 	$	125	 	 	$	47	 	 	$	2,280	 	 	$	219	 	 	$	—  	 	  	$	2,699	 	

(1)  	Amortization, net of interest accretion, included $1 million of amortization related to net investment gains for the policyholder account balances.	
(2)  	Amortization, net of interest accretion, included $2 million of amortization related to net investment gains for the policyholder account balances.	
 
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U.S. Mortgage Insurance Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Adjusted Operating Income and Sales—U.S. Mortgage Insurance Segment
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Premiums	  	$	179	 	  	$	181	 	  	$	175	 	  	$	170	 	  	$	169	 	  	$	695	 	
Net investment income	  	 	21	 	  	 	20	 	  	 	18	 	  	 	18	 	  	 	17	 	  	 	73	 	
Net investment gains (losses)	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	
Policy fees and other income	  	 	—  	 	  	 	1	 	  	 	1	 	  	 	1	 	  	 	1	 	  	 	4	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	200	 	  	 	202	 	  	 	194	 	  	 	189	 	  	 	187	 	  	 	772	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				  				  				  				  				
Benefits and other changes in policy reserves	  	 	16	 	  	 	40	 	  	 	35	 	  	 	3	 	  	 	29	 	  	 	107	 	
Acquisition and operating expenses, net of deferrals	  	 	39	 	  	 	41	 	  	 	43	 	  	 	41	 	  	 	40	 	  	 	165	 	
Amortization of deferred acquisition costs and intangibles	  	 	4	 	  	 	4	 	  	 	3	 	  	 	3	 	  	 	4	 	  	 	14	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	59	 	  	 	85	 	  	 	81	 	  	 	47	 	  	 	73	 	  	 	286	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	141	 	  	 	117	 	  	 	113	 	  	 	142	 	  	 	114	 	  	 	486	 	
Provision for income taxes	  	 	30	 	  	 	43	 	  	 	40	 	  	 	51	 	  	 	41	 	  	 	175	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME FROM CONTINUING OPERATIONS	  	 	111	 	  	 	74	 	  	 	73	 	  	 	91	 	  	 	73	 	  	 	311	 	
	 						
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS:	  			 	  				  				  				  				  				
Net investment (gains) losses	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	
Taxes on adjustments	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
ADJUSTED OPERATING INCOME	  	$	111	 	  	$	74	 	  	$	73	 	  	$	91	 	  	$	73	 	  	$	311	 	

SALES:	  				  				  				  				  				  				
Flow New Insurance Written (NIW)	  	$	9,000	 	  	$	10,200	 	  	$	11,300	 	  	$	9,800	 	  	$	7,600	 	  	$	38,900	 	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Flow New Insurance Written Metrics—U.S. Mortgage Insurance Segment
(amounts in millions)

 	 	2018	 	  	2017	 	
 	 	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	 	
Product	 				 			 	  				  				 				  				 				  				 				  				
Monthly (1)	 	$	7,300	 	 	 	81	% 	  	$	7,900	 	  	 	77	% 	 	$	8,600	 	  	 	76	% 	 	$	7,900	 	  	 	81	% 	 	$	6,100	 	  	 	80	% 	
Single	 	 	1,700	 	 	 	19	 	  	 	2,300	 	  	 	23	 	 	 	2,700	 	  	 	24	 	 	 	1,900	 	  	 	19	 	 	 	1,500	 	  	 	20	 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	 	$	9,000	 	 	 	100	% 	  	$	10,200	 	  	 	100	% 	 	$	11,300	 	  	 	100	% 	 	$	9,800	 	  	 	100	% 	 	$	7,600	 	  	 	100	% 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
FICO Scores	 				 			 	  				  				 				  				 				  				 				  				
Over 735	 	$	5,300	 	 	 	59	% 	  	$	5,900	 	  	 	58	% 	 	$	6,900	 	  	 	61	% 	 	$	6,000	 	  	 	61	% 	 	$	4,700	 	  	 	62	% 	
680-735	 	 	3,000	 	 	 	33	 	  	 	3,400	 	  	 	33	 	 	 	3,500	 	  	 	31	 	 	 	3,100	 	  	 	32	 	 	 	2,300	 	  	 	30	 	
660-679 (2)	 	 	400	 	 	 	5	 	  	 	500	 	  	 	5	 	 	 	500	 	  	 	4	 	 	 	400	 	  	 	4	 	 	 	300	 	  	 	4	 	
620-659	 	 	300	 	 	 	3	 	  	 	400	 	  	 	4	 	 	 	400	 	  	 	4	 	 	 	300	 	  	 	3	 	 	 	300	 	  	 	4	 	
<620	 	 	—  	 	 	 	—  	 	  	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	 	 	—  	 	  	 	—  	 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	 	$	9,000	 	 	 	100	% 	  	$	10,200	 	  	 	100	% 	 	$	11,300	 	  	 	100	% 	 	$	9,800	 	  	 	100	% 	 	$	7,600	 	  	 	100	% 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Loan-To-Value Ratio	 				 			 	  				  				 				  				 				  				 				  				
95.01% and above	 	$	1,600	 	 	 	18	% 	  	$	1,700	 	  	 	17	% 	 	$	1,600	 	  	 	14	% 	 	$	1,100	 	  	 	11	% 	 	$	800	 	  	 	11	% 	
90.01% to 95.00%	 	 	3,900	 	 	 	43	 	  	 	4,500	 	  	 	44	 	 	 	5,200	 	  	 	46	 	 	 	4,700	 	  	 	48	 	 	 	3,500	 	  	 	46	 	
85.01% to 90.00%	 	 	2,500	 	 	 	28	 	  	 	2,900	 	  	 	28	 	 	 	3,300	 	  	 	29	 	 	 	2,900	 	  	 	30	 	 	 	2,300	 	  	 	30	 	
85.00% and below	 	 	1,000	 	 	 	11	 	  	 	1,100	 	  	 	11	 	 	 	1,200	 	  	 	11	 	 	 	1,100	 	  	 	11	 	 	 	1,000	 	  	 	13	 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	 	$	9,000	 	 	 	100	% 	  	$	10,200	 	  	 	100	% 	 	$	11,300	 	  	 	100	% 	 	$	9,800	 	  	 	100	% 	 	$	7,600	 	  	 	100	% 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Origination	 				 			 	  				  				 				  				 				  				 				  				
Purchase	 	$	8,000	 	 	 	89	% 	  	$	9,100	 	  	 	89	% 	 	$	10,300	 	  	 	91	% 	 	$	9,000	 	  	 	92	% 	 	$	6,300	 	  	 	83	% 	
Refinance	 	 	1,000	 	 	 	11	 	  	 	1,100	 	  	 	11	 	 	 	1,000	 	  	 	9	 	 	 	800	 	  	 	8	 	 	 	1,300	 	  	 	17	 	
	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	 	$	9,000	 	 	 	100	% 	  	$	10,200	 	  	 	100	% 	 	$	11,300	 	  	 	100	% 	 	$	9,800	 	  	 	100	% 	 	$	7,600	 	  	 	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
FIRST QUARTER 2018
Other Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net Premiums Written	  	$	185	 	  	$	196	 	 	$	200	 	 	$	186	 	 	$	175	 	 	$	757	 	
	 						
Flow New Risk Written	  	$	2,247	 	  	$	2,539	 	 	$	2,846	 	 	$	2,478	 	 	$	1,864	 	 	$	9,727	 	
	 						
Primary Insurance In-Force (1) 	  	$	154,900	 	  	$	151,800	 	 	$	148,000	 	 	$	143,000	 	 	$	139,300	 	 				
Risk In-Force	  			 	  				 				 				 				 				
Flow (2)	  	$	37,252	 	  	$	36,498	 	 	$	35,567	 	 	$	34,286	 	 	$	33,347	 	 				
Bulk (3)	  	 	202	 	  	 	212	 	 	 	252	 	 	 	257	 	 	 	266	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Primary	  	 	37,454	 	  	 	36,710	 	 	 	35,819	 	 	 	34,543	 	 	 	33,613	 	 				
Pool	  	 	80	 	  	 	83	 	 	 	86	 	 	 	92	 	 	 	96	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Risk In-Force	  	$	37,534	 	  	$	36,793	 	 	$	35,905	 	 	$	34,635	 	 	$	33,709	 	 				

Primary Risk In-Force That Is GSE Conforming	  	 	94	% 	  	 	94	% 	 	 	95	% 	 	 	95	% 	 	 	95	% 	 				
	 						
Expense Ratio (Net Earned Premiums) (4) 	  	 	24	% 	  	 	25	% 	 	 	26	% 	 	 	26	% 	 	 	26	% 	 	 	26	% 	
	 						
Expense Ratio (Net Premiums Written) (5) 	  	 	23	% 	  	 	23	% 	 	 	23	% 	 	 	24	% 	 	 	25	% 	 	 	24	% 	
	 						
Flow Persistency	  	 	84	% 	  	 	83	% 	 	 	83	% 	 	 	82	% 	 	 	83	% 	 				
	 						
Risk To Capital Ratio (6) 	  	 	12.5:1	 	  	 	12.7:1	 	 	 	12.8:1	 	 	 	13.0:1	 	 	 	13.6:1	 	 				
	 						
PMIERs Sufficiency Ratio (7) 	  	 	124	% 	  	 	121	% 	 	 	122	% 	 	 	122	% 	 	 	118	% 	 				
	 						
Average Primary Loan Size (in thousands)	  	$	207	 	  	$	205	 	 	$	203	 	 	$	200	 	 	$	198	 	 				
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 conform to the presentation under the Private Mortgage Insurer Eligibility Requirements (PMIERs).	
(3)  	As of March 31, 2018, 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 the current 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 March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017, the PMIERs sufficiency ratios were in excess of $600 million, $550 million, $500 million, $500 million and $400 million, respectively, of available assets above the current PMIERs requirements. The PMIERs sufficiency ratio as of March 31, 2018 and December 31, 2017 was negatively impacted by approximately four points by the increase in new delinquencies in areas impacted by hurricanes Harvey and Irma.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Loss Metrics—U.S. Mortgage Insurance Segment
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Paid Claims	  			 	  				 				 				 				 				
Flow	  			 	  				 				 				 				 				
Direct (1)	  	$	53	 	  	$	41	 	 	$	62	 	 	$	92	 	 	$	76	 	 	$	271	 	
Assumed (2)	  	 	1	 	  	 	1	 	 	 	—  	 	 	 	—  	 	 	 	2	 	 	 	3	 	
Ceded	  	 	(1	) 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	 	 	(1	) 	
Loss adjustment expenses	  	 	2	 	  	 	2	 	 	 	2	 	 	 	2	 	 	 	2	 	 	 	8	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Flow	  	 	55	 	  	 	44	 	 	 	64	 	 	 	94	 	 	 	79	 	 	 	281	 	
Bulk	  	 	1	 	  	 	1	 	 	 	1	 	 	 	1	 	 	 	1	 	 	 	4	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Primary	  	 	56	 	  	 	45	 	 	 	65	 	 	 	95	 	 	 	80	 	 	 	285	 	
Pool	  	 	—  	 	  	 	—  	 	 	 	1	 	 	 	1	 	 	 	—  	 	 	 	2	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	56	 	  	$	45	 	 	$	66	 	 	$	96	 	 	$	80	 	 	$	287	 	

Average Paid Claim (in thousands) (1) 	  	$	47.5	 	  	$	51.0	 	 	$	50.6	 	 	$	46.6	 	 	$	51.2	 	 				
	 	 					
Average Reserve Per Delinquency (in thousands)	  			 	  				 				 				 				 				
Flow (3)	  	$	20.2	 	  	$	19.7	 	 	$	22.6	 	 	$	24.1	 	 	$	25.8	 	 				
Bulk loans with established reserve	  	 	17.6	 	  	 	18.1	 	 	 	18.7	 	 	 	19.5	 	 	 	19.1	 	 				
	 	 					
Reserves:	  			 	  				 				 				 				 				
Flow direct case	  	$	372	 	  	$	408	 	 	$	412	 	 	$	440	 	 	$	530	 	 				
Bulk direct case	  	 	8	 	  	 	10	 	 	 	11	 	 	 	12	 	 	 	12	 	 				
Assumed (2)	  	 	2	 	  	 	3	 	 	 	3	 	 	 	4	 	 	 	4	 	 				
All other (4)	  	 	33	 	  	 	34	 	 	 	34	 	 	 	34	 	 	 	37	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Reserves	  	$	415	 	  	$	455	 	 	$	460	 	 	$	490	 	 	$	583	 	 				

Beginning Reserves	  	$	455	 	  	$	460	 	 	$	490	 	 	$	583	 	 	$	635	 	 	$	635	 	
Paid claims	  	 	(57	) 	  	 	(45	) 	 	 	(66	) 	 	 	(96	) 	 	 	(81	) 	 	 	(288	) 	
Increase in reserves	  	 	17	 	  	 	40	 	 	 	36	 	 	 	3	 	 	 	29	 	 	 	108	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reserves	  	$	415	 	  	$	455	 	 	$	460	 	 	$	490	 	 	$	583	 	 	$	455	 	

Beginning Reinsurance Recoverable (5) 	  	$	1	 	  	$	1	 	 	$	1	 	 	$	1	 	 	$	2	 	 	$	2	 	
Ceded paid claims	  	 	(1	) 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	 	 	(1	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reinsurance Recoverable	  	$	—  	 	  	$	1	 	 	$	1	 	 	$	1	 	 	$	1	 	 	$	1	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Loss Ratio (6) 	  	 	9	% 	  	 	22	% 	 	 	20	% 	 	 	2	% 	 	 	17	% 	 	 	15	% 	
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)  	Direct paid claims and average paid claim in the second quarter of 2017 included payments in relation to an agreement on non-performing loans.	
(2)  	Assumed is comprised of reinsurance arrangements with state governmental housing finance agencies.	
(3)  	Average reserve per delinquency in the fourth quarter of 2017 reflected a decrease in the hurricanes Harvey and Irma impacted areas. There were approximately three thousand new delinquencies in impacted areas. However, the company’s experience indicated that these delinquencies had different ultimate claim rates and, therefore, the company lowered its expected claim frequency for the incremental delinquencies.	
(4)  	Other includes loss adjustment expenses, pool and incurred but not reported reserves.	
(5)  	Reinsurance recoverable excludes ceded unearned premium recoveries and amounts for which cash proceeds have not yet been received.	
(6)  	The ratio of benefits and other changes in policy reserves to net earned premiums. The fourth quarter of 2017 reflected an increase in the hurricanes Harvey and Irma impacted areas, which negatively impacted benefits and other changes in policy reserves by approximately $5 million.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Delinquency Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Number of Primary Delinquencies	  			 	  				 				 				 				 				
Flow (1)	  	 	20,007	 	  	 	22,483	 	 	 	19,765	 	 	 	19,733	 	 	 	22,036	 	 				
Bulk loans with an established reserve	  	 	494	 	  	 	614	 	 	 	631	 	 	 	653	 	 	 	695	 	 				
Bulk loans with no reserve (2)	  	 	101	 	  	 	91	 	 	 	112	 	 	 	291	 	 	 	288	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Number of Primary Delinquencies	  	 	20,602	 	  	 	23,188	 	 	 	20,508	 	 	 	20,677	 	 	 	23,019	 	 				

Beginning Number of Primary Delinquencies	  	 	23,188	 	  	 	20,508	 	 	 	20,677	 	 	 	23,019	 	 	 	25,709	 	 	 	25,709	 	
New delinquencies (1)	  	 	8,409	 	  	 	11,979	 	 	 	8,753	 	 	 	7,776	 	 	 	8,456	 	 	 	36,964	 	
Delinquency cures (1)	  	 	(9,840	) 	  	 	(8,419	) 	 	 	(7,654	) 	 	 	(8,085	) 	 	 	(9,583	) 	 	 	(33,741	) 	
Paid claims	  	 	(1,155	) 	  	 	(880	) 	 	 	(1,268	) 	 	 	(2,033	) 	 	 	(1,563	) 	 	 	(5,744	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Number of Primary Delinquencies	  	 	20,602	 	  	 	23,188	 	 	 	20,508	 	 	 	20,677	 	 	 	23,019	 	 	 	23,188	 	

Composition of Cures	  			 	  				 				 				 				 				
Reported delinquent and cured-intraquarter	  	 	2,288	 	  	 	2,007	 	 	 	1,713	 	 	 	1,697	 	 	 	2,350	 	 				
Number of missed payments delinquent prior to cure:	  			 	  				 				 				 				 				
3 payments or less	  	 	5,413	 	  	 	4,547	 	 	 	4,104	 	 	 	4,285	 	 	 	5,375	 	 				
4 -11 payments	  	 	1,719	 	  	 	1,346	 	 	 	1,305	 	 	 	1,678	 	 	 	1,432	 	 				
12 payments or more	  	 	420	 	  	 	519	 	 	 	532	 	 	 	425	 	 	 	426	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total (1) 	  	 	9,840	 	  	 	8,419	 	 	 	7,654	 	 	 	8,085	 	 	 	9,583	 	 				

Primary Delinquencies by Missed Payment Status	  			 	  				 				 				 				 				
3 payments or less	  	 	8,335	 	  	 	10,852	 	 	 	8,542	 	 	 	7,877	 	 	 	8,114	 	 				
4 - 11 payments	  	 	6,875	 	  	 	6,319	 	 	 	5,420	 	 	 	5,520	 	 	 	6,341	 	 				
12 payments or more	  	 	5,392	 	  	 	6,017	 	 	 	6,546	 	 	 	7,280	 	 	 	8,564	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Primary Delinquencies (1) 	  	 	20,602	 	  	 	23,188	 	 	 	20,508	 	 	 	20,677	 	 	 	23,019	 	 				

				
 	  	March 31, 2018	 	 	 	 	 	 	 	
Flow Delinquencies and Percentage
Reserved by Payment Status	  	Delinquencies	 	  	Direct Case
Reserves (3) 	 	 	Risk In-Force	 	 	Reserves as % of
Risk In-Force	 	 	 	 	 	 	 	
3 payments or less in default	  	 	8,095	 	  	$	39	 	 	$	357	 	 	 	11	% 	 				 				
4 - 11 payments in default	  	 	6,761	 	  	 	124	 	 	 	316	 	 	 	39	% 	 				 				
12 payments or more in default	  	 	5,151	 	  	 	209	 	 	 	254	 	 	 	82	% 	 				 				
	  	 	 	 	  	 	 	 	 	 	 	 	 				 				 				
Total	  	 	20,007	 	  	$	372	 	 	$	927	 	 	 	40	% 	 				 				

 	  	December 31, 2017	 	 	 	 	 	 	 	
Flow Delinquencies and Percentage
Reserved by Payment Status	  	Delinquencies (1) 	 	  	Direct Case
Reserves (3) 	 	 	Risk In-Force	 	 	Reserves as % of
Risk In-Force	 	 	 	 	 	 	 	
3 payments or less in default	  	 	10,594	 	  	$	46	 	 	$	474	 	 	 	10	% 	 				 				
4 - 11 payments in default	  	 	6,178	 	  	 	125	 	 	 	279	 	 	 	45	% 	 				 				
12 payments or more in default	  	 	5,711	 	  	 	237	 	 	 	281	 	 	 	84	% 	 				 				
	  	 	 	 	  	 	 	 	 	 	 	 	 				 				 				
Total	  	 	22,483	 	  	$	408	 	 	$	1,034	 	 	 	39	% 	 				 				

(1)  	The number of delinquencies, new delinquencies and delinquency cures in the fourth quarter of 2017 reflected increases in the hurricanes Harvey and Irma impacted areas.	
(2)  	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.	
(3)	Direct flow case reserves exclude loss adjustment expenses, incurred but not reported and reinsurance reserves.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Portfolio Quality Metrics—U.S. Mortgage Insurance Segment

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	
Primary Loans	  			 	  				 				 				 				
Primary loans in-force	  	 	749,145	 	  	 	742,094	 	 	 	730,174	 	 	 	714,254	 	 	 	703,214	 	
Primary delinquent loans (1)	  	 	20,602	 	  	 	23,188	 	 	 	20,508	 	 	 	20,677	 	 	 	23,019	 	
Primary delinquency rate (1)	  	 	2.75	% 	  	 	3.12	% 	 	 	2.81	% 	 	 	2.89	% 	 	 	3.27	% 	
	 					
Flow loans in-force	  	 	734,411	 	  	 	725,748	 	 	 	712,848	 	 	 	695,383	 	 	 	683,532	 	
Flow delinquent loans (1)	  	 	20,007	 	  	 	22,483	 	 	 	19,765	 	 	 	19,733	 	 	 	22,036	 	
Flow delinquency rate (1)	  	 	2.72	% 	  	 	3.10	% 	 	 	2.77	% 	 	 	2.84	% 	 	 	3.22	% 	
	 					
Bulk loans in-force	  	 	14,734	 	  	 	16,346	 	 	 	17,326	 	 	 	18,871	 	 	 	19,682	 	
Bulk delinquent loans	  	 	595	 	  	 	705	 	 	 	743	 	 	 	944	 	 	 	983	 	
Bulk delinquency rate	  	 	4.04	% 	  	 	4.31	% 	 	 	4.29	% 	 	 	5.00	% 	 	 	4.99	% 	
	 					
A minus and sub-prime loans in-force	  	 	17,964	 	  	 	18,912	 	 	 	19,828	 	 	 	20,797	 	 	 	22,056	 	
A minus and sub-prime delinquent loans	  	 	3,557	 	  	 	4,054	 	 	 	4,080	 	 	 	4,148	 	 	 	4,572	 	
A minus and sub-prime delinquency rate	  	 	19.80	% 	  	 	21.44	% 	 	 	20.58	% 	 	 	19.95	% 	 	 	20.73	% 	
	 					
Pool Loans	  			 	  				 				 				 				
Pool loans in-force	  	 	4,961	 	  	 	5,039	 	 	 	5,145	 	 	 	5,406	 	 	 	5,586	 	
Pool delinquent loans	  	 	220	 	  	 	249	 	 	 	252	 	 	 	276	 	 	 	276	 	
Pool delinquency rate	  	 	4.43	% 	  	 	4.94	% 	 	 	4.90	% 	 	 	5.11	% 	 	 	4.94	% 	
	 					
Primary Risk In-Force by Credit Quality	  			 	  				 				 				 				
Over 735	  	 	57	% 	  	 	57	% 	 	 	57	% 	 	 	56	% 	 	 	55	% 	
680-735	  	 	32	% 	  	 	31	% 	 	 	31	% 	 	 	31	% 	 	 	31	% 	
660-679 (2)	  	 	5	% 	  	 	6	% 	 	 	6	% 	 	 	6	% 	 	 	6	% 	
620-659	  	 	5	% 	  	 	5	% 	 	 	5	% 	 	 	5	% 	 	 	6	% 	
<620	  	 	1	% 	  	 	1	% 	 	 	1	% 	 	 	2	% 	 	 	2	% 	

(1)  	Delinquent loans and delinquency rates in the fourth quarter of 2017 reflected increases in the hurricanes Harvey and Irma impacted areas.	
(2)  	Loans with unknown FICO scores are included in the 660-679 category.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Portfolio Quality Metrics—U.S. Mortgage Insurance Segment
(amounts in millions)

 	  	March 31, 2018	 	
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	  	 	6.02	% 	 	 	9.4	% 	 	$	2,031	 	  	 	1.3	% 	 	$	386	 	  	 	1.0	% 	 	 	12.64	% 	
2005	  	 	5.59	% 	 	 	8.7	 	 	 	1,930	 	  	 	1.2	 	 	 	456	 	  	 	1.2	 	 	 	11.73	% 	
2006	  	 	5.72	% 	 	 	14.3	 	 	 	3,597	 	  	 	2.3	 	 	 	841	 	  	 	2.2	 	 	 	11.24	% 	
2007	  	 	5.65	% 	 	 	30.9	 	 	 	9,417	 	  	 	6.1	 	 	 	2,190	 	  	 	5.9	 	 	 	10.36	% 	
2008	  	 	5.18	% 	 	 	14.8	 	 	 	7,825	 	  	 	5.1	 	 	 	1,807	 	  	 	4.8	 	 	 	6.31	% 	
2009	  	 	4.91	% 	 	 	0.7	 	 	 	703	 	  	 	0.5	 	 	 	149	 	  	 	0.4	 	 	 	2.65	% 	
2010	  	 	4.66	% 	 	 	0.5	 	 	 	856	 	  	 	0.5	 	 	 	198	 	  	 	0.5	 	 	 	1.89	% 	
2011	  	 	4.54	% 	 	 	0.7	 	 	 	1,431	 	  	 	0.9	 	 	 	335	 	  	 	0.9	 	 	 	1.91	% 	
2012	  	 	3.85	% 	 	 	0.9	 	 	 	3,857	 	  	 	2.5	 	 	 	935	 	  	 	2.5	 	 	 	1.08	% 	
2013	  	 	4.06	% 	 	 	1.9	 	 	 	7,166	 	  	 	4.6	 	 	 	1,770	 	  	 	4.7	 	 	 	1.27	% 	
2014	  	 	4.44	% 	 	 	4.2	 	 	 	11,151	 	  	 	7.2	 	 	 	2,714	 	  	 	7.3	 	 	 	1.79	% 	
2015	  	 	4.12	% 	 	 	5.4	 	 	 	21,516	 	  	 	13.9	 	 	 	5,249	 	  	 	14.0	 	 	 	1.35	% 	
2016	  	 	3.86	% 	 	 	5.6	 	 	 	37,280	 	  	 	24.1	 	 	 	9,025	 	  	 	24.1	 	 	 	0.89	% 	
2017	  	 	4.24	% 	 	 	2.0	 	 	 	37,129	 	  	 	24.0	 	 	 	9,166	 	  	 	24.5	 	 	 	0.44	% 	
2018	  	 	4.39	% 	 	 	—  	 	 	 	8,970	 	  	 	5.8	 	 	 	2,233	 	  	 	6.0	 	 	 	0.03	% 	
	  				 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 				
Total	  	 	4.43	% 	 	 	100.0	% 	 	$	154,859	 	  	 	100.0	% 	 	$	37,454	 	  	 	100.0	% 	 	 	2.75	% 	

 	  	March 31, 2018	 	 	December 31, 2017	 	 	March 31, 2017	 	 	 	 	
 	  	Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	Primary
Risk In-Force	 	  	Primary
Delinquency Rate (3) 	 	 	Primary
Risk In-Force	 	  	Primary
Delinquency Rate	 	 	 	 	
Lender concentration (by original applicant)	  	$	37,454	 	 	 	2.75	% 	 	$	36,710	 	  	 	3.12	% 	 	$	33,613	 	  	 	3.27	% 	 				
Top 10 lenders	  	$	10,935	 	 	 	3.29	% 	 	$	10,686	 	  	 	3.73	% 	 	$	10,356	 	  	 	4.21	% 	 				
Top 20 lenders	  	$	14,604	 	 	 	3.18	% 	 	$	14,288	 	  	 	3.64	% 	 	$	13,689	 	  	 	3.70	% 	 				
								
Loan-to-value ratio	  				 				 				  				 				  				 				
95.01% and above	  	$	6,245	 	 	 	4.96	% 	 	$	6,057	 	  	 	5.77	% 	 	$	5,653	 	  	 	6.21	% 	 				
90.01% to 95.00%	  	 	19,474	 	 	 	2.06	% 	 	 	19,043	 	  	 	2.35	% 	 	 	17,122	 	  	 	2.24	% 	 				
80.01% to 90.00%	  	 	11,544	 	 	 	2.36	% 	 	 	11,410	 	  	 	2.62	% 	 	 	10,590	 	  	 	2.89	% 	 				
80.00% and below	  	 	191	 	 	 	2.89	% 	 	 	200	 	  	 	3.08	% 	 	 	248	 	  	 	3.20	% 	 				
	  	 	 	 	 				 	 	 	 	  				 	 	 	 	  				 				
Total	  	$	37,454	 	 	 	2.75	% 	 	$	36,710	 	  	 	3.12	% 	 	$	33,613	 	  	 	3.27	% 	 				
	  	 	 	 	 				 	 	 	 	  				 	 	 	 	  				 				
Loan grade	  				 				 				  				 				  				 				
Prime	  	$	36,826	 	 	 	2.33	% 	 	$	36,049	 	  	 	2.65	% 	 	$	32,837	 	  	 	2.71	% 	 				
A minus and sub-prime	  	 	628	 	 	 	19.80	% 	 	 	661	 	  	 	21.44	% 	 	 	776	 	  	 	20.73	% 	 				
	  	 	 	 	 				 	 	 	 	  				 	 	 	 	  				 				
Total	  	$	37,454	 	 	 	2.75	% 	 	$	36,710	 	  	 	3.12	% 	 	$	33,613	 	  	 	3.27	% 	 				

(1)  	Average Annual Mortgage Interest Rate.	
(2)  	Total reserves were $415 million as of March 31, 2018.	
(3)  	 Delinquency rates in the fourth quarter of 2017 reflected increases in the hurricanes Harvey and Irma impacted areas.	
 
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Canada Mortgage Insurance Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Adjusted Operating Income and Sales—Canada Mortgage Insurance Segment
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	139	 	  	$	136	 	 	$	131	 	 	$	126	 	 	$	126	 	 	$	519	 	
Net investment income	  	 	34	 	  	 	36	 	 	 	33	 	 	 	31	 	 	 	32	 	 	 	132	 	
Net investment gains (losses)	  	 	(15	) 	  	 	15	 	 	 	55	 	 	 	47	 	 	 	11	 	 	 	128	 	
Policy fees and other income	  	 	—  	 	  	 	—  	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	1	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	158	 	  	 	187	 	 	 	220	 	 	 	204	 	 	 	169	 	 	 	780	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves	  	 	18	 	  	 	12	 	 	 	18	 	 	 	4	 	 	 	20	 	 	 	54	 	
Acquisition and operating expenses, net of deferrals	  	 	17	 	  	 	23	 	 	 	20	 	 	 	16	 	 	 	21	 	 	 	80	 	
Amortization of deferred acquisition costs and intangibles	  	 	10	 	  	 	11	 	 	 	11	 	 	 	11	 	 	 	10	 	 	 	43	 	
Interest expense	  	 	5	 	  	 	5	 	 	 	4	 	 	 	5	 	 	 	4	 	 	 	18	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	50	 	  	 	51	 	 	 	53	 	 	 	36	 	 	 	55	 	 	 	195	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	108	 	  	 	136	 	 	 	167	 	 	 	168	 	 	 	114	 	 	 	585	 	
Provision for income taxes	  	 	30	 	  	 	44	 	 	 	55	 	 	 	56	 	 	 	36	 	 	 	191	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS	  	 	78	 	  	 	92	 	 	 	112	 	 	 	112	 	 	 	78	 	 	 	394	 	
Less: income from continuing operations attributable to noncontrolling interests	  	 	36	 	  	 	44	 	 	 	54	 	 	 	54	 	 	 	38	 	 	 	190	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	 	42	 	  	 	48	 	 	 	58	 	 	 	58	 	 	 	40	 	 	 	204	 	
	 						
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	  			 	  				 				 				 				 				
Net investment (gains) losses, net (1)	  	 	9	 	  	 	(9	) 	 	 	(32	) 	 	 	(27	) 	 	 	(6	) 	 	 	(74	) 	
Expenses related to restructuring	  	 	—  	 	  	 	—  	 	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	1	 	
Taxes on adjustments	  	 	(2	) 	  	 	4	 	 	 	10	 	 	 	10	 	 	 	2	 	 	 	26	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (2) 	  	$	49	 	  	$	43	 	 	$	37	 	 	$	41	 	 	$	36	 	 	$	157	 	

							
SALES:	  				  				 				 				 				 				
New Insurance Written (NIW)	  				  				 				 				 				 				
Flow	  	$	2,500	 	  	$	3,600	 	 	$	4,400	 	 	$	3,700	 	 	$	2,300	 	 	$	14,000	 	
Bulk	  	 	900	 	  	 	800	 	 	 	600	 	 	 	800	 	 	 	8,000	 	 	 	10,200	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Canada NIW (3) 	  	$	3,400	 	  	$	4,400	 	 	$	5,000	 	 	$	4,500	 	 	$	10,300	 	 	$	24,200	 	

 
(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	  	$	15	 	  	$	(15	) 	 	$	(55	) 	 	$	(47	) 	 	$	(11	) 	 	$	(128	) 	
Adjustment for net investment gains (losses) attributable to noncontrolling interests	  	 	(6	) 	  	 	6	 	 	 	23	 	 	 	20	 	 	 	5	 	 	 	54	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment (gains) losses, net	  	$	9	 	  	$	(9	) 	 	$	(32	) 	 	$	(27	) 	 	$	(6	) 	 	$	(74	) 	

(2)  	Adjusted operating income for the Canadian platform adjusted for foreign exchange as compared to the prior year period was $46 million for the three months ended March 31, 2018.	
(3)  	New insurance written for the Canadian platform adjusted for foreign exchange as compared to the prior year period was $3,300 million for the three months ended March 31, 2018.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Selected Key Performance Measures—Canada Mortgage Insurance Segment
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net Premiums Written	  	$	92	 	  	$	131	 	 	$	156	 	 	$	126	 	 	$	96	 	 	$	509	 	
Loss Ratio  (1) 	  	 	13	% 	  	 	9	% 	 	 	14	% 	 	 	4	% 	 	 	16	% 	 	 	10	% 	
Expense Ratio (Net Earned Premiums)  (2) 	  	 	20	% 	  	 	25	% 	 	 	23	% 	 	 	21	% 	 	 	25	% 	 	 	24	% 	
Expense Ratio (Net Premiums Written)  (3) 	  	 	30	% 	  	 	26	% 	 	 	20	% 	 	 	21	% 	 	 	32	% 	 	 	24	% 	
	 						
Primary Insurance In-Force  (4) 	  	$	384,600	 	  	$	392,500	 	 	$	390,700	 	 	$	371,500	 	 	$	358,900	 	 				
Primary Risk In-Force  (5) 	  			 	  				 				 				 				 				
Flow	  	$	90,500	 	  	$	92,300	 	 	$	91,400	 	 	$	86,500	 	 	$	83,200	 	 				
Bulk	  	 	44,100	 	  	 	45,100	 	 	 	45,300	 	 	 	43,500	 	 	 	42,400	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total	  	$	134,600	 	  	$	137,400	 	 	$	136,700	 	 	$	130,000	 	 	$	125,600	 	 				

			
	  	 	March 31, 2018	 	 	 	December 31, 2017	 	
Risk In-Force by Loan-To-Value Ratio (6)	  	 	Primary	 	  	 	Flow	 	 	 	Bulk	 	 	 	Primary	 	 	 	Flow	 	 	 	Bulk	 	
95.01% and above	  	$	44,793	 	  	$	44,793	 	 	$	—  	 	 	$	45,545	 	 	$	45,545	 	 	$	—  	 	
90.01% to 95.00%	  	 	26,869	 	  	 	26,869	 	 	 	—  	 	 	 	27,424	 	 	 	27,424	 	 	 	—  	 	
80.01% to 90.00%	  	 	15,681	 	  	 	15,678	 	 	 	3	 	 	 	16,054	 	 	 	16,051	 	 	 	3	 	
80.00% and below	  	 	47,252	 	  	 	3,136	 	 	 	44,116	 	 	 	48,353	 	 	 	3,215	 	 	 	45,138	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total	  	$	134,595	 	  	$	90,476	 	 	$	44,119	 	 	$	137,376	 	 	$	92,235	 	 	$	45,141	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
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)  	As part of an ongoing effort to improve the estimate of outstanding insurance exposure, the company is receiving updated outstanding balances in Canada from almost all of its customers. As a result, the company estimates that the outstanding balance of insured mortgages was approximately $168.0 billion, $174.0 billion, $178.0 billion, $174.0 billion and $170.0 billion as of March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017, respectively. This is based on the extrapolation of the amounts reported by lenders to the entire insured population.	
(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, Canada 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.	
(6)  	Loan amount in loan-to-value ratio calculation includes capitalized premiums, where applicable.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Selected Key Performance Measures—Canada Mortgage Insurance Segment
(dollar amounts in millions)

Primary Insurance	  	March 31, 2018	 	 	December 31, 2017	 	 	September 30, 2017	 	 	June 30, 2017	 	 	March 31, 2017	 	 	 	 	
Insured loans in-force (1),(2)	  	 	2,123,727	 	 	 	2,110,324	 	 	 	2,098,771	 	 	 	2,082,586	 	 	 	2,074,984	 	 				
Insured delinquent loans	  	 	1,723	 	 	 	1,718	 	 	 	1,759	 	 	 	1,809	 	 	 	2,082	 	 				
Insured delinquency rate (2),(3)	  	 	0.08	% 	 	 	0.08	% 	 	 	0.08	% 	 	 	0.09	% 	 	 	0.10	% 	 				
							
Flow loans in-force (1)	  	 	1,456,573	 	 	 	1,447,794	 	 	 	1,434,662	 	 	 	1,418,076	 	 	 	1,402,813	 	 				
Flow delinquent loans	  	 	1,385	 	 	 	1,369	 	 	 	1,434	 	 	 	1,476	 	 	 	1,697	 	 				
Flow delinquency rate (3)	  	 	0.10	% 	 	 	0.09	% 	 	 	0.10	% 	 	 	0.10	% 	 	 	0.12	% 	 				
							
Bulk loans in-force (1)	  	 	667,154	 	 	 	662,530	 	 	 	664,109	 	 	 	664,510	 	 	 	672,171	 	 				
Bulk delinquent loans	  	 	338	 	 	 	349	 	 	 	325	 	 	 	333	 	 	 	385	 	 				
Bulk delinquency rate (3)	  	 	0.05	% 	 	 	0.05	% 	 	 	0.05	% 	 	 	0.05	% 	 	 	0.06	% 	 				
							
Loss Metrics	  	March 31, 2018	 	 	December 31, 2017	 	 	September 30, 2017	 	 	June 30, 2017	 	 	March 31, 2017	 	 	 	 	
Beginning Reserves	  	$	87	 	 	$	97	 	 	$	94	 	 	$	109	 	 	$	112	 	 				
Paid claims (4)	  	 	(19	) 	 	 	(21	) 	 	 	(19	) 	 	 	(21	) 	 	 	(24	) 	 				
Increase in reserves	  	 	18	 	 	 	12	 	 	 	18	 	 	 	4	 	 	 	20	 	 				
Impact of changes in foreign exchange rates	  	 	(2	) 	 	 	(1	) 	 	 	4	 	 	 	2	 	 	 	1	 	 				
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Ending Reserves	  	$	84	 	 	$	87	 	 	$	97	 	 	$	94	 	 	$	109	 	 				

 	  	March 31, 2018	 	 	December 31, 2017	 	 	March 31, 2017	 	
Province and Territory	  	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	
Ontario	  	 	47	% 	 	 	0.03	% 	 	 	47	% 	 	 	0.03	% 	 	 	48	% 	 	 	0.04	% 	
Alberta	  	 	16	 	 	 	0.17	% 	 	 	16	 	 	 	0.17	% 	 	 	16	 	 	 	0.21	% 	
British Columbia	  	 	15	 	 	 	0.04	% 	 	 	15	 	 	 	0.05	% 	 	 	15	 	 	 	0.06	% 	
Quebec	  	 	13	 	 	 	0.10	% 	 	 	13	 	 	 	0.11	% 	 	 	13	 	 	 	0.15	% 	
Saskatchewan	  	 	3	 	 	 	0.30	% 	 	 	3	 	 	 	0.28	% 	 	 	3	 	 	 	0.27	% 	
Nova Scotia	  	 	2	 	 	 	0.15	% 	 	 	2	 	 	 	0.16	% 	 	 	2	 	 	 	0.21	% 	
Manitoba	  	 	2	 	 	 	0.10	% 	 	 	2	 	 	 	0.08	% 	 	 	2	 	 	 	0.09	% 	
New Brunswick	  	 	1	 	 	 	0.17	% 	 	 	1	 	 	 	0.16	% 	 	 	1	 	 	 	0.18	% 	
All Other	  	 	1	 	 	 	0.19	% 	 	 	1	 	 	 	0.17	% 	 	 	—  	 	 	 	0.19	% 	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.08	% 	 	 	100	% 	 	 	0.08	% 	 	 	100	% 	 	 	0.10	% 	

By Policy Year	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2009 and prior	  	 	36	% 	 	 	0.04	% 	 	 	36	% 	 	 	0.04	% 	 	 	38	% 	 	 	0.06	% 	
2010	  	 	5	 	 	 	0.12	% 	 	 	5	 	 	 	0.11	% 	 	 	5	 	 	 	0.17	% 	
2011	  	 	5	 	 	 	0.15	% 	 	 	5	 	 	 	0.16	% 	 	 	5	 	 	 	0.23	% 	
2012	  	 	6	 	 	 	0.18	% 	 	 	6	 	 	 	0.18	% 	 	 	7	 	 	 	0.23	% 	
2013	  	 	6	 	 	 	0.17	% 	 	 	7	 	 	 	0.17	% 	 	 	7	 	 	 	0.20	% 	
2014	  	 	8	 	 	 	0.16	% 	 	 	8	 	 	 	0.17	% 	 	 	8	 	 	 	0.16	% 	
2015	  	 	11	 	 	 	0.10	% 	 	 	12	 	 	 	0.10	% 	 	 	12	 	 	 	0.10	% 	
2016	  	 	14	 	 	 	0.07	% 	 	 	14	 	 	 	0.05	% 	 	 	14	 	 	 	0.04	% 	
2017	  	 	7	 	 	 	0.03	% 	 	 	7	 	 	 	0.02	% 	 	 	4	 	 	 	—  	% 	
2018	  	 	2	 	 	 	—  	% 	 	 	—  	 	 	 	—  	% 	 	 	—  	 	 	 	—  	% 	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.08	% 	 	 	100	% 	 	 	0.08	% 	 	 	100	% 	 	 	0.10	% 	

(1)  	Insured loans in-force represent the original number of loans insured for which the coverage term has not expired, and for which no policy level cancellation or termination has been received.	
(2)  	As part of an ongoing effort to improve the estimate of outstanding insurance exposure, the company is receiving updated outstanding loans in-force in Canada from almost all of its customers. As a result, the company estimates that the outstanding loans in-force were 946,000 as of March 31, 2018, 949,000 as of December 31, 2017, 967,000 as of September 30, 2017, 981,000 as of June 30, 2017 and 978,000 as of March 31, 2017. This is based on the extrapolation of the amounts reported by lenders to the entire insured population. The corresponding insured delinquency rate was 0.18% as of March 31, 2018, December 31, 2017, September 30, 2017 and June 30, 2017 and 0.21% as of March 31, 2017.	
(3)  	Delinquency rates are based on insured loans in-force.	
(4)  	Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Selected Key Performance Measures—Canada Mortgage Insurance Segment
(Canadian dollar amounts in millions)

 	  	2018	 	  	2017	 	
	  	 	1Q	 	  	 	4Q	 	 	 	3Q	 	 	 	2Q	 	 	 	1Q	 	 	 	Total	 	
Paid Claims (1) 	  			 	  				 				 				 				 				
Flow	  	$	23	 	  	$	25	 	 	$	25	 	 	$	30	 	 	$	28	 	 	$	108	 	
Bulk	  	 	2	 	  	 	2	 	 	 	1	 	 	 	2	 	 	 	3	 	 	 	8	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	25	 	  	$	27	 	 	$	26	 	 	$	32	 	 	$	31	 	 	$	116	 	

Average Paid Claim (in thousands)	  	$	68.5	 	  	$	68.8	 	 	$	66.6	 	 	$	73.6	 	 	$	65.3	 	 				
	 						
Average Reserve Per Delinquency (in thousands)	  	$	62.7	 	  	$	63.5	 	 	$	68.8	 	 	$	67.8	 	 	$	69.7	 	 				
	 						
Loss Metrics	  			 	  				 				 				 				 				
Beginning Reserves	  	$	109	 	  	$	121	 	 	$	123	 	 	$	145	 	 	$	151	 	 	$	151	 	
Paid claims (1)	  	 	(25	) 	  	 	(27	) 	 	 	(26	) 	 	 	(32	) 	 	 	(31	) 	 	 	(116	) 	
Increase in reserves	  	 	24	 	  	 	15	 	 	 	24	 	 	 	10	 	 	 	25	 	 	 	74	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reserves	  	$	108	 	  	$	109	 	 	$	121	 	 	$	123	 	 	$	145	 	 	$	109	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Loan Amount (2) 	  			 	  				 				 				 				 				
	 						
Over $550K	  	 	8	% 	  	 	8	% 	 	 	8	% 	 	 	8	% 	 	 	8	% 	 				
$400K to $550K	  	 	15	 	  	 	15	 	 	 	14	 	 	 	14	 	 	 	14	 	 				
$250K to $400K	  	 	34	 	  	 	34	 	 	 	34	 	 	 	34	 	 	 	34	 	 				
$100K to $250K	  	 	39	 	  	 	39	 	 	 	40	 	 	 	40	 	 	 	40	 	 				
$100K or Less	  	 	4	 	  	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total	  	 	100	% 	  	 	100	% 	 	 	100	% 	 	 	100	% 	 	 	100	% 	 				

Average Primary Loan Size (in thousands)	  	$	233	 	  	$	233	 	 	$	232	 	 	$	231	 	 	$	230	 	 				
All amounts presented in Canadian 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.	
 
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Australia Mortgage Insurance Segment
 
28

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Adjusted Operating Income (Loss) and Sales—Australia Mortgage Insurance Segment
(amounts in millions)

 	 	2018	 	 	2017	 	
 	 	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	 			 	 				 				 				 				 				
Premiums (1)	 	$	98	 	 	$	(377	) 	 	$	78	 	 	$	78	 	 	$	81	 	 	$	(140	) 	
Net investment income	 	 	17	 	 	 	18	 	 	 	19	 	 	 	17	 	 	 	21	 	 	 	75	 	
Net investment gains (losses)	 	 	(9	) 	 	 	2	 	 	 	1	 	 	 	2	 	 	 	20	 	 	 	25	 	
Policy fees and other income	 	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	 	 	107	 	 	 	(357	) 	 	 	98	 	 	 	97	 	 	 	122	 	 	 	(40	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	 			 	 				 				 				 				 				
Benefits and other changes in policy reserves	 	 	30	 	 	 	25	 	 	 	29	 	 	 	27	 	 	 	28	 	 	 	109	 	
Acquisition and operating expenses, net of deferrals	 	 	17	 	 	 	17	 	 	 	18	 	 	 	9	 	 	 	23	 	 	 	67	 	
Amortization of deferred acquisition costs and intangibles (1)	 	 	11	 	 	 	(7	) 	 	 	10	 	 	 	17	 	 	 	4	 	 	 	24	 	
Interest expense	 	 	2	 	 	 	2	 	 	 	3	 	 	 	2	 	 	 	2	 	 	 	9	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	 	 	60	 	 	 	37	 	 	 	60	 	 	 	55	 	 	 	57	 	 	 	209	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	 	 	47	 	 	 	(394	) 	 	 	38	 	 	 	42	 	 	 	65	 	 	 	(249	) 	
Provision (benefit) for income taxes	 	 	14	 	 	 	(138	) 	 	 	12	 	 	 	14	 	 	 	22	 	 	 	(90	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	 	 	33	 	 	 	(256	) 	 	 	26	 	 	 	28	 	 	 	43	 	 	 	(159	) 	
Less: income (loss) from continuing operations attributable to noncontrolling interests	 	 	17	 	 	 	(132	) 	 	 	14	 	 	 	15	 	 	 	23	 	 	 	(80	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	 	 	16	 	 	 	(124	) 	 	 	12	 	 	 	13	 	 	 	20	 	 	 	(79	) 	
	 						
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	 			 	 				 				 				 				 				
Net investment (gains) losses, net (2)	 	 	4	 	 	 	(1	) 	 	 	(1	) 	 	 	—  	 	 	 	(11	) 	 	 	(13	) 	
Taxes on adjustments	 	 	(1	) 	 	 	—  	 	 	 	1	 	 	 	(1	) 	 	 	4	 	 	 	4	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS) (1),(3) 	 	$	19	 	 	$	(125	) 	 	$	12	 	 	$	12	 	 	$	13	 	 	$	(88	) 	

							
SALES:	 				 				 				 				 				 				
New Insurance Written (NIW)	 				 				 				 				 				 				
Flow	 	$	3,400	 	 	$	4,200	 	 	$	3,700	 	 	$	4,100	 	 	$	4,100	 	 	$	16,100	 	
Bulk	 	 	—  	 	 	 	—  	 	 	 	600	 	 	 	600	 	 	 	1,000	 	 	 	2,200	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Australia NIW (4),(5) 	 	$	3,400	 	 	$	4,200	 	 	$	4,300	 	 	$	4,700	 	 	$	5,100	 	 	$	18,300	 	

 
(1)    In the fourth quarter of 2017, the Australian platform adopted new premium recognition factors. These refinements decreased premiums by $468 million and decreased amortization of deferred acquisition costs and intangibles by $18 million in the fourth quarter of 2017. After noncontrolling interests and taxes, these adjustments unfavorably impacted adjusted operating income (loss) by $141 million in the fourth quarter of 2017.
(2)    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	 	 	$	(2	) 	 	$	(1	) 	 	$	(2	) 	 	$	(20	) 	 	$	(25	) 	
Adjustment for net investment gains (losses) attributable to noncontrolling interests	 	 	(5	) 	 	 	1	 	 	 	—  	 	 	 	2	 	 	 	9	 	 	 	12	 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment (gains) losses, net	 	$	4	 	 	$	(1	) 	 	$	(1	) 	 	$	—  	 	 	$	(11	) 	 	$	(13	) 	

(3)  	Adjusted operating income (loss) for the Australian platform adjusted for foreign exchange as compared to the prior year period was $18 million for the three months ended March 31, 2018.	
(4)  	New insurance written for the Australian platform adjusted for foreign exchange as compared to the prior year period was $3,200 million for the three months ended March 31, 2018.	
(5)  	The business currently has structured insurance transactions with two 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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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
Selected Key Performance Measures—Australia Mortgage Insurance Segment
(amounts in millions)

 	  	2018	 	  	2017	 	  	 	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	  	 	 	
Net Premiums Written	  	$	60	 	  	$	63	 	  	$	56	 	  	$	58	 	  	$	54	 	  	$	231	 	  				
Loss Ratio (1)	  	 	30	% 	  	 	-7	% 	  	 	37	% 	  	 	34	% 	  	 	35	% 	  	 	-79	% 	  				
Expense Ratio (Net Earned Premiums) (2)	  	 	29	% 	  	 	-3	% 	  	 	37	% 	  	 	34	% 	  	 	33	% 	  	 	-65	% 	  				
Expense Ratio (Net Premiums Written) (3)	  	 	47	% 	  	 	15	% 	  	 	51	% 	  	 	46	% 	  	 	49	% 	  	 	39	% 	  				
	 							
Primary Insurance In-Force (4)	  	$	246,300	 	  	$	251,400	 	  	$	252,200	 	  	$	247,700	 	  	$	246,400	 	  				  				
Primary Risk In-Force (4),(5)	  			 	  				  				  				  				  				  				
Flow	  	$	79,600	 	  	$	81,200	 	  	$	81,300	 	  	$	80,000	 	  	$	79,700	 	  				  				
Bulk	  	 	6,100	 	  	 	6,300	 	  	 	6,400	 	  	 	6,200	 	  	 	6,000	 	  				  				
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  				  				
Total	  	$	85,700	 	  	$	87,500	 	  	$	87,700	 	  	$	86,200	 	  	$	85,700	 	  				  				

				
 	  	March 31, 2018	 	  	December 31, 2017	 	  	 	 	
Risk In-Force by Loan-To-Value Ratio (4),(6) 	  	Primary	 	  	Flow	 	  	Bulk	 	  	Primary	 	  	Flow	 	  	Bulk	 	  	 	 	
95.01% and above	  	$	13,362	 	  	$	13,362	 	  	$	—  	 	  	$	13,849	 	  	$	13,849	 	  	$	—  	 	  				
90.01% to 95.00%	  	 	23,489	 	  	 	23,483	 	  	 	6	 	  	 	23,849	 	  	 	23,843	 	  	 	6	 	  				
80.01% to 90.00%	  	 	24,358	 	  	 	24,289	 	  	 	69	 	  	 	24,524	 	  	 	24,454	 	  	 	70	 	  				
80.00% and below	  	 	24,510	 	  	 	18,436	 	  	 	6,074	 	  	 	25,258	 	  	 	18,994	 	  	 	6,264	 	  				
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  				
Total	  	$	85,719	 	  	$	79,570	 	  	$	6,149	 	  	$	87,480	 	  	$	81,140	 	  	$	6,340	 	  				
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  				
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. During the fourth quarter of 2017, the company decreased net earned premiums $468 million from refinements to premium recognition factors. This adjustment reduced the loss ratio by 35 percentage points and 112 percentage points for the three and twelve months ended December 31, 2017, respectively.	
(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. During the fourth quarter of 2017, the company decreased net earned premiums $468 million and DAC amortization $18 million from refinements to premium recognition factors. These adjustments reduced the expense ratio (net earned premiums) by 33 percentage points and 98 percentage points for the three and twelve months ended December 31, 2017, respectively.	
(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. During the fourth quarter of 2017, the company decreased DAC amortization $18 million from refinements to premium recognition factors. This adjustment reduced the expense ratio (net premiums written) by 29 percentage points and eight percentage points for the three and twelve months ended December 31, 2017, respectively.	
(4)  	The business currently has structured insurance transactions with two 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 as of March 31, 2018 was approximately $160 million.	
(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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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Selected Key Performance Measures—Australia Mortgage Insurance Segment
(dollar amounts in millions)

Primary Insurance (1) 	  	March 31, 2018	 	 	December 31, 2017	 	 	September 30, 2017	 	 	June 30, 2017	 	 	March 31, 2017	 	 	 	 	
Insured loans in-force	  	 	1,407,431	 	 	 	1,416,525	 	 	 	1,422,501	 	 	 	1,438,100	 	 	 	1,443,836	 	 				
Insured delinquent loans	  	 	6,958	 	 	 	6,696	 	 	 	7,146	 	 	 	7,285	 	 	 	6,926	 	 				
Insured delinquency rate	  	 	0.49	% 	 	 	0.47	% 	 	 	0.50	% 	 	 	0.51	% 	 	 	0.48	% 	 				
							
Flow loans in-force	  	 	1,296,055	 	 	 	1,303,928	 	 	 	1,308,998	 	 	 	1,325,477	 	 	 	1,332,468	 	 				
Flow delinquent loans	  	 	6,735	 	 	 	6,476	 	 	 	6,912	 	 	 	7,007	 	 	 	6,650	 	 				
Flow delinquency rate	  	 	0.52	% 	 	 	0.50	% 	 	 	0.53	% 	 	 	0.53	% 	 	 	0.50	% 	 				
							
Bulk loans in-force	  	 	111,376	 	 	 	112,597	 	 	 	113,503	 	 	 	112,623	 	 	 	111,368	 	 				
Bulk delinquent loans	  	 	223	 	 	 	220	 	 	 	234	 	 	 	278	 	 	 	276	 	 				
Bulk delinquency rate	  	 	0.20	% 	 	 	0.20	% 	 	 	0.21	% 	 	 	0.25	% 	 	 	0.25	% 	 				
							
Loss Metrics	  	March 31, 2018	 	 	December 31, 2017	 	 	September 30, 2017	 	 	June 30, 2017	 	 	March 31, 2017	 	 	 	 	
Beginning Reserves	  	$	218	 	 	$	232	 	 	$	231	 	 	$	227	 	 	$	211	 	 				
Paid claims (2)	  	 	(35	) 	 	 	(41	) 	 	 	(33	) 	 	 	(30	) 	 	 	(25	) 	 				
Increase in reserves	  	 	31	 	 	 	27	 	 	 	29	 	 	 	33	 	 	 	28	 	 				
Impact of changes in foreign exchange rates	  	 	(3	) 	 	 	—  	 	 	 	5	 	 	 	1	 	 	 	13	 	 				
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Ending Reserves	  	$	211	 	 	$	218	 	 	$	232	 	 	$	231	 	 	$	227	 	 				

 	  	March 31, 2018	 	 	December 31, 2017	 	 	March 31, 2017	 	
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	% 	 	 	0.33	% 	 	 	28	% 	 	 	0.31	% 	 	 	28	% 	 	 	0.31	% 	
Queensland	  	 	23	 	 	 	0.67	% 	 	 	23	 	 	 	0.67	% 	 	 	23	 	 	 	0.68	% 	
Victoria	  	 	23	 	 	 	0.39	% 	 	 	23	 	 	 	0.37	% 	 	 	23	 	 	 	0.38	% 	
Western Australia	  	 	12	 	 	 	0.88	% 	 	 	12	 	 	 	0.83	% 	 	 	12	 	 	 	0.78	% 	
South Australia	  	 	6	 	 	 	0.63	% 	 	 	6	 	 	 	0.60	% 	 	 	6	 	 	 	0.66	% 	
Australian Capital Territory	  	 	3	 	 	 	0.18	% 	 	 	3	 	 	 	0.14	% 	 	 	3	 	 	 	0.19	% 	
Tasmania	  	 	2	 	 	 	0.32	% 	 	 	2	 	 	 	0.32	% 	 	 	2	 	 	 	0.36	% 	
New Zealand	  	 	2	 	 	 	0.06	% 	 	 	2	 	 	 	0.04	% 	 	 	2	 	 	 	0.07	% 	
Northern Territory	  	 	1	 	 	 	0.52	% 	 	 	1	 	 	 	0.48	% 	 	 	1	 	 	 	0.42	% 	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.49	% 	 	 	100	% 	 	 	0.47	% 	 	 	100	% 	 	 	0.48	% 	

By Policy Year (1) 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2009 and prior	  	 	43	% 	 	 	0.45	% 	 	 	44	% 	 	 	0.43	% 	 	 	46	% 	 	 	0.46	% 	
2010	  	 	4	 	 	 	0.56	% 	 	 	5	 	 	 	0.53	% 	 	 	5	 	 	 	0.60	% 	
2011	  	 	5	 	 	 	0.65	% 	 	 	5	 	 	 	0.64	% 	 	 	5	 	 	 	0.69	% 	
2012	  	 	6	 	 	 	0.87	% 	 	 	7	 	 	 	0.84	% 	 	 	7	 	 	 	0.79	% 	
2013	  	 	7	 	 	 	0.77	% 	 	 	8	 	 	 	0.74	% 	 	 	8	 	 	 	0.66	% 	
2014	  	 	8	 	 	 	0.71	% 	 	 	9	 	 	 	0.64	% 	 	 	10	 	 	 	0.58	% 	
2015	  	 	8	 	 	 	0.47	% 	 	 	8	 	 	 	0.43	% 	 	 	9	 	 	 	0.28	% 	
2016	  	 	7	 	 	 	0.26	% 	 	 	7	 	 	 	0.22	% 	 	 	8	 	 	 	0.05	% 	
2017	  	 	6	 	 	 	0.06	% 	 	 	7	 	 	 	0.03	% 	 	 	2	 	 	 	—  	% 	
2018	  	 	6	 	 	 	—  	% 	 	 	—  	 	 	 	—  	% 	 	 	—  	 	 	 	—  	% 	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.49	% 	 	 	100	% 	 	 	0.47	% 	 	 	100	% 	 	 	0.48	% 	

(1)  	The business currently has structured insurance transactions with two 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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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
Selected Key Performance Measures—Australia Mortgage Insurance Segment
(Australian dollar amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Paid Claims (1) 	  			 	  				 				 				 				 				
Flow	  	$	44	 	  	$	51	 	 	$	42	 	 	$	40	 	 	$	33	 	 	$	166	 	
Bulk	  	 	—  	 	  	 	1	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	44	 	  	$	52	 	 	$	42	 	 	$	40	 	 	$	33	 	 	$	167	 	

Average Paid Claim (in thousands)	  	$	119.5	 	  	$	134.4	 	 	$	110.6	 	 	$	112.7	 	 	$	92.5	 	 				
	 						
Average Reserve Per Delinquency (in thousands)	  	$	39.4	 	  	$	41.8	 	 	$	41.5	 	 	$	41.3	 	 	$	42.8	 	 				
	 						
Loss Metrics	  			 	  				 				 				 				 				
Beginning Reserves	  	$	280	 	  	$	297	 	 	$	301	 	 	$	297	 	 	$	293	 	 	$	293	 	
Paid claims (1)	  	 	(44	) 	  	 	(52	) 	 	 	(42	) 	 	 	(40	) 	 	 	(33	) 	 	 	(167	) 	
Increase in reserves	  	 	38	 	  	 	35	 	 	 	38	 	 	 	44	 	 	 	37	 	 	 	154	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reserves	  	$	274	 	  	$	280	 	 	$	297	 	 	$	301	 	 	$	297	 	 	$	280	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Loan Amount (2),(3) 	  			 	  				 				 				 				 				
	 						
Over $550K	  	 	17	% 	  	 	17	% 	 	 	17	% 	 	 	16	% 	 	 	16	% 	 				
$400K to $550K	  	 	20	 	  	 	20	 	 	 	20	 	 	 	20	 	 	 	20	 	 				
$250K to $400K	  	 	35	 	  	 	35	 	 	 	35	 	 	 	35	 	 	 	35	 	 				
$100K to $250K	  	 	23	 	  	 	23	 	 	 	23	 	 	 	24	 	 	 	24	 	 				
$100K or Less	  	 	5	 	  	 	5	 	 	 	5	 	 	 	5	 	 	 	5	 	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total	  	 	100	% 	  	 	100	% 	 	 	100	% 	 	 	100	% 	 	 	100	% 	 				

Average Primary Loan Size (in thousands) (3) 	  	$	228	 	  	$	227	 	 	$	226	 	 	$	224	 	 	$	223	 	 				
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 two 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
FIRST QUARTER 2018
 Adjusted Operating Income (Loss)—U.S. Life Insurance Segment
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Premiums	  	$	722	 	  	$	680	 	  	$	748	 	  	$	736	 	  	$	758	 	  	$	2,922	 	
Net investment income	  	 	688	 	  	 	697	 	  	 	683	 	  	 	694	 	  	 	681	 	  	 	2,755	 	
Net investment gains (losses)	  	 	8	 	  	 	43	 	  	 	27	 	  	 	57	 	  	 	7	 	  	 	134	 	
Policy fees and other income	  	 	163	 	  	 	166	 	  	 	154	 	  	 	170	 	  	 	170	 	  	 	660	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	1,581	 	  	 	1,586	 	  	 	1,612	 	  	 	1,657	 	  	 	1,616	 	  	 	6,471	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				  				  				  				  				
Benefits and other changes in policy reserves	  	 	1,238	 	  	 	1,298	 	  	 	1,255	 	  	 	1,163	 	  	 	1,164	 	  	 	4,880	 	
Interest credited	  	 	119	 	  	 	117	 	  	 	128	 	  	 	129	 	  	 	132	 	  	 	506	 	
Acquisition and operating expenses, net of deferrals	  	 	141	 	  	 	122	 	  	 	149	 	  	 	144	 	  	 	157	 	  	 	572	 	
Amortization of deferred acquisition costs and intangibles	  	 	71	 	  	 	107	 	  	 	50	 	  	 	101	 	  	 	70	 	  	 	328	 	
Interest expense	  	 	4	 	  	 	4	 	  	 	3	 	  	 	3	 	  	 	3	 	  	 	13	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	1,573	 	  	 	1,648	 	  	 	1,585	 	  	 	1,540	 	  	 	1,526	 	  	 	6,299	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	8	 	  	 	(62	) 	  	 	27	 	  	 	117	 	  	 	90	 	  	 	172	 	
Provision (benefit) for income taxes	  	 	6	 	  	 	(23	) 	  	 	10	 	  	 	41	 	  	 	32	 	  	 	60	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	2	 	  	 	(39	) 	  	 	17	 	  	 	76	 	  	 	58	 	  	 	112	 	
	 						
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				  				  				  				  				
Net investment (gains) losses, net (1)	  	 	(9	) 	  	 	(45	) 	  	 	(28	) 	  	 	(57	) 	  	 	(8	) 	  	 	(138	) 	
Taxes on adjustments	  	 	2	 	  	 	15	 	  	 	10	 	  	 	20	 	  	 	3	 	  	 	48	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	(5	) 	  	$	(69	) 	  	$	(1	) 	  	$	39	 	  	$	53	 	  	$	22	 	

 
(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	  	$	(8	) 	  	$	(43	) 	  	$	(27	) 	  	$	(57	) 	  	$	(7	) 	  	$	(134	) 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	(1	) 	  	 	(2	) 	  	 	(1	) 	  	 	—  	 	  	 	(1	) 	  	 	(4	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Net investment (gains) losses, net	  	$	(9	) 	  	$	(45	) 	  	$	(28	) 	  	$	(57	) 	  	$	(8	) 	  	$	(138	) 	

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment—Long-Term Care Insurance
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Premiums	  	$	631	 	  	$	595	 	  	$	641	 	  	$	623	 	  	$	634	 	  	$	2,493	 	
Net investment income	  	 	382	 	  	 	386	 	  	 	369	 	  	 	369	 	  	 	356	 	  	 	1,480	 	
Net investment gains (losses)	  	 	6	 	  	 	17	 	  	 	23	 	  	 	44	 	  	 	3	 	  	 	87	 	
Policy fees and other income	  	 	1	 	  	 	1	 	  	 	—  	 	  	 	—  	 	  	 	1	 	  	 	2	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	1,020	 	  	 	999	 	  	 	1,033	 	  	 	1,036	 	  	 	994	 	  	 	4,062	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				  				  				  				  				
Benefits and other changes in policy reserves	  	 	928	 	  	 	853	 	  	 	896	 	  	 	821	 	  	 	835	 	  	 	3,405	 	
Interest credited	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	
Acquisition and operating expenses, net of deferrals	  	 	93	 	  	 	80	 	  	 	98	 	  	 	97	 	  	 	112	 	  	 	387	 	
Amortization of deferred acquisition costs and intangibles	  	 	27	 	  	 	22	 	  	 	23	 	  	 	23	 	  	 	23	 	  	 	91	 	
Interest expense	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	1,048	 	  	 	955	 	  	 	1,017	 	  	 	941	 	  	 	970	 	  	 	3,883	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(28	) 	  	 	44	 	  	 	16	 	  	 	95	 	  	 	24	 	  	 	179	 	
Provision (benefit) for income taxes	  	 	(1	) 	  	 	15	 	  	 	6	 	  	 	34	 	  	 	8	 	  	 	63	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	(27	) 	  	 	29	 	  	 	10	 	  	 	61	 	  	 	16	 	  	 	116	 	
	 						
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				  				  				  				  				
Net investment (gains) losses	  	 	(6	) 	  	 	(17	) 	  	 	(23	) 	  	 	(44	) 	  	 	(3	) 	  	 	(87	) 	
Taxes on adjustments	  	 	1	 	  	 	5	 	  	 	8	 	  	 	16	 	  	 	1	 	  	 	30	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	(32	) 	  	$	17	 	  	$	(5	) 	  	$	33	 	  	$	14	 	  	$	59	 	

RATIOS:	  				  				  				  				  				  				
Loss Ratio (1)	  	 	84.1	% 	  	 	82.0	% 	  	 	78.8	% 	  	 	71.0	% 	  	 	72.0	% 	  	 	75.9	% 	
Gross Benefits Ratio (2)	  	 	147.2	% 	  	 	143.3	% 	  	 	139.8	% 	  	 	131.8	% 	  	 	131.6	% 	  	 	136.6	% 	

(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
FIRST QUARTER 2018
 
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment—Life Insurance
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Premiums	  	$	91	 	  	$	85	 	  	$	107	 	  	$	113	 	  	$	124	 	  	$	429	 	
Net investment income	  	 	124	 	  	 	117	 	  	 	124	 	  	 	126	 	  	 	125	 	  	 	492	 	
Net investment gains (losses)	  	 	5	 	  	 	11	 	  	 	7	 	  	 	5	 	  	 	3	 	  	 	26	 	
Policy fees and other income	  	 	159	 	  	 	161	 	  	 	151	 	  	 	167	 	  	 	165	 	  	 	644	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	379	 	  	 	374	 	  	 	389	 	  	 	411	 	  	 	417	 	  	 	1,591	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				  				  				  				  				
Benefits and other changes in policy reserves	  	 	247	 	  	 	324	 	  	 	280	 	  	 	248	 	  	 	261	 	  	 	1,113	 	
Interest credited	  	 	61	 	  	 	55	 	  	 	63	 	  	 	62	 	  	 	63	 	  	 	243	 	
Acquisition and operating expenses, net of deferrals	  	 	35	 	  	 	34	 	  	 	36	 	  	 	33	 	  	 	33	 	  	 	136	 	
Amortization of deferred acquisition costs and intangibles	  	 	29	 	  	 	78	 	  	 	13	 	  	 	62	 	  	 	29	 	  	 	182	 	
Interest expense	  	 	4	 	  	 	4	 	  	 	3	 	  	 	3	 	  	 	3	 	  	 	13	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	376	 	  	 	495	 	  	 	395	 	  	 	408	 	  	 	389	 	  	 	1,687	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	3	 	  	 	(121	) 	  	 	(6	) 	  	 	3	 	  	 	28	 	  	 	(96	) 	
Provision (benefit) for income taxes	  	 	—  	 	  	 	(43	) 	  	 	(2	) 	  	 	1	 	  	 	10	 	  	 	(34	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	3	 	  	 	(78	) 	  	 	(4	) 	  	 	2	 	  	 	18	 	  	 	(62	) 	
	 						
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				  				  				  				  				
Net investment (gains) losses	  	 	(5	) 	  	 	(11	) 	  	 	(7	) 	  	 	(5	) 	  	 	(3	) 	  	 	(26	) 	
Taxes on adjustments	  	 	1	 	  	 	4	 	  	 	2	 	  	 	2	 	  	 	1	 	  	 	9	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	(1	) 	  	$	(85	) 	  	$	(9	) 	  	$	(1	) 	  	$	16	 	  	$	(79	) 	

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
Adjusted Operating Income (Loss)—U.S. Life Insurance Segment—Fixed Annuities
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Premiums	  	$	—  	 	  	$	—  	 	  	$	—  	 	  	$	—  	 	  	$	—  	 	  	$	—  	 	
Net investment income	  	 	182	 	  	 	194	 	  	 	190	 	  	 	199	 	  	 	200	 	  	 	783	 	
Net investment gains (losses)	  	 	(3	) 	  	 	15	 	  	 	(3	) 	  	 	8	 	  	 	1	 	  	 	21	 	
Policy fees and other income	  	 	3	 	  	 	4	 	  	 	3	 	  	 	3	 	  	 	4	 	  	 	14	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	182	 	  	 	213	 	  	 	190	 	  	 	210	 	  	 	205	 	  	 	818	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				  				  				  				  				
Benefits and other changes in policy reserves	  	 	63	 	  	 	121	 	  	 	79	 	  	 	94	 	  	 	68	 	  	 	362	 	
Interest credited	  	 	58	 	  	 	62	 	  	 	65	 	  	 	67	 	  	 	69	 	  	 	263	 	
Acquisition and operating expenses, net of deferrals	  	 	13	 	  	 	8	 	  	 	15	 	  	 	14	 	  	 	12	 	  	 	49	 	
Amortization of deferred acquisition costs and intangibles	  	 	15	 	  	 	7	 	  	 	14	 	  	 	16	 	  	 	18	 	  	 	55	 	
Interest expense	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	149	 	  	 	198	 	  	 	173	 	  	 	191	 	  	 	167	 	  	 	729	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	33	 	  	 	15	 	  	 	17	 	  	 	19	 	  	 	38	 	  	 	89	 	
Provision for income taxes	  	 	7	 	  	 	5	 	  	 	6	 	  	 	6	 	  	 	14	 	  	 	31	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME FROM CONTINUING OPERATIONS	  	 	26	 	  	 	10	 	  	 	11	 	  	 	13	 	  	 	24	 	  	 	58	 	
	 						
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS:	  			 	  				  				  				  				  				
Net investment (gains) losses, net (1)	  	 	2	 	  	 	(17	) 	  	 	2	 	  	 	(8	) 	  	 	(2	) 	  	 	(25	) 	
Taxes on adjustments	  	 	—  	 	  	 	6	 	  	 	—  	 	  	 	2	 	  	 	1	 	  	 	9	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	28	 	  	$	(1	) 	  	$	13	 	  	$	7	 	  	$	23	 	  	$	42	 	

 
(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	  	$	3	 	  	$	(15	) 	  	$	3	 	  	$	(8	) 	  	$	(1	) 	  	$	(21	) 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	(1	) 	  	 	(2	) 	  	 	(1	) 	  	 	—  	 	  	 	(1	) 	  	 	(4	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
 Net investment (gains) losses, net	  	$	2	 	  	$	(17	) 	  	$	2	 	  	$	(8	) 	  	$	(2	) 	  	$	(25	) 	

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Runoff Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Adjusted Operating Income—Runoff Segment
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Net investment income	  	$	42	 	  	$	41	 	  	$	40	 	  	$	41	 	  	$	38	 	  	$	160	 	
Net investment gains (losses)	  	 	(14	) 	  	 	(8	) 	  	 	9	 	  	 	7	 	  	 	8	 	  	 	16	 	
Policy fees and other income	  	 	40	 	  	 	40	 	  	 	41	 	  	 	41	 	  	 	41	 	  	 	163	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues	  	 	68	 	  	 	73	 	  	 	90	 	  	 	89	 	  	 	87	 	  	 	339	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				  				  				  				  				
Benefits and other changes in policy reserves	  	 	8	 	  	 	8	 	  	 	5	 	  	 	9	 	  	 	4	 	  	 	26	 	
Interest credited	  	 	37	 	  	 	35	 	  	 	36	 	  	 	34	 	  	 	35	 	  	 	140	 	
Acquisition and operating expenses, net of deferrals	  	 	15	 	  	 	14	 	  	 	16	 	  	 	16	 	  	 	15	 	  	 	61	 	
Amortization of deferred acquisition costs and intangibles	  	 	7	 	  	 	4	 	  	 	7	 	  	 	7	 	  	 	6	 	  	 	24	 	
Interest expense	  	 	—  	 	  	 	1	 	  	 	—  	 	  	 	1	 	  	 	—  	 	  	 	2	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses	  	 	67	 	  	 	62	 	  	 	64	 	  	 	67	 	  	 	60	 	  	 	253	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	1	 	  	 	11	 	  	 	26	 	  	 	22	 	  	 	27	 	  	 	86	 	
Provision for income taxes	  	 	—  	 	  	 	2	 	  	 	8	 	  	 	7	 	  	 	8	 	  	 	25	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME FROM CONTINUING OPERATIONS	  	 	1	 	  	 	9	 	  	 	18	 	  	 	15	 	  	 	19	 	  	 	61	 	
	 						
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS:	  			 	  				  				  				  				  				
Net investment (gains) losses, net (1)	  	 	12	 	  	 	7	 	  	 	(8	) 	  	 	(7	) 	  	 	(7	) 	  	 	(15	) 	
Taxes on adjustments	  	 	(3	) 	  	 	(3	) 	  	 	3	 	  	 	3	 	  	 	2	 	  	 	5	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
ADJUSTED OPERATING INCOME	  	$	10	 	  	$	13	 	  	$	13	 	  	$	11	 	  	$	14	 	  	$	51	 	

 
(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	  	$	14	 	  	$	8	 	  	$	(9	) 	  	$	(7	) 	  	$	(8	) 	  	$	(16	) 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	(2	) 	  	 	(1	) 	  	 	1	 	  	 	—  	 	  	 	1	 	  	 	1	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Net investment (gains) losses, net	  	$	12	 	  	$	7	 	  	$	(8	) 	  	$	(7	) 	  	$	(7	) 	  	$	(15	) 	

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Corporate and Other
 
40

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Adjusted Operating Income (Loss)—Corporate and Other (1)
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	2	 	  	$	2	 	 	$	3	 	 	$	1	 	 	$	2	 	 	$	8	 	
Net investment income	  	 	2	 	  	 	—  	 	 	 	4	 	 	 	—  	 	 	 	1	 	 	 	5	 	
Net investment gains (losses)	  	 	(1	) 	  	 	(7	) 	 	 	(7	) 	 	 	(12	) 	 	 	(12	) 	 	 	(38	) 	
Policy fees and other income	  	 	(2	) 	  	 	—  	 	 	 	1	 	 	 	(2	) 	 	 	(1	) 	 	 	(2	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	1	 	  	 	(5	) 	 	 	1	 	 	 	(13	) 	 	 	(10	) 	 	 	(27	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves	  	 	1	 	  	 	—  	 	 	 	2	 	 	 	—  	 	 	 	1	 	 	 	3	 	
Acquisition and operating expenses, net of deferrals	  	 	11	 	  	 	30	 	 	 	19	 	 	 	14	 	 	 	14	 	 	 	77	 	
Amortization of deferred acquisition costs and intangibles	  	 	1	 	  	 	—  	 	 	 	2	 	 	 	—  	 	 	 	—  	 	 	 	2	 	
Interest expense	  	 	65	 	  	 	63	 	 	 	63	 	 	 	63	 	 	 	53	 	 	 	242	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	78	 	  	 	93	 	 	 	86	 	 	 	77	 	 	 	68	 	 	 	324	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(77	) 	  	 	(98	) 	 	 	(85	) 	 	 	(90	) 	 	 	(78	) 	 	 	(351	) 	
Benefit for income taxes	  	 	(17	) 	  	 	(483	) 	 	 	(23	) 	 	 	(39	) 	 	 	(23	) 	 	 	(568	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	(60	) 	  	 	385	 	 	 	(62	) 	 	 	(51	) 	 	 	(55	) 	 	 	217	 	
	 						
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				
Net investment (gains) losses	  	 	1	 	  	 	7	 	 	 	7	 	 	 	12	 	 	 	12	 	 	 	38	 	
Expenses related to restructuring	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	1	 	 	 	1	 	
Taxes on adjustments	  	 	—  	 	  	 	(2	) 	 	 	(3	) 	 	 	(4	) 	 	 	(4	) 	 	 	(13	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
ADJUSTED OPERATING INCOME (LOSS)	  	$	(59	) 	  	$	390	 	 	$	(58	) 	 	$	(43	) 	 	$	(46	) 	 	$	243	 	

 

(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.	
 
41

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Additional Financial Data
 
42

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Investments Summary
(amounts in millions)

 	 	 	 	March 31, 2018	 	 	December 31, 2017	 	 	September 30, 2017	 	 	June 30, 2017	 	 	March 31, 2017	 	
 	 	 	 	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	 	$	33,438	 	 	 	45	% 	 	$	34,281	 	 	 	45	% 	 	$	34,315	 	 	 	45	% 	 	$	33,699	 	 	 	44	% 	 	$	33,049	 	 	 	44	% 	
Private fixed maturity securities	 	 	12,278	 	 	 	16	 	 	 	12,504	 	 	 	16	 	 	 	12,354	 	 	 	16	 	 	 	12,058	 	 	 	16	 	 	 	11,483	 	 	 	15	 	
Residential mortgage-backed securities (1)	 	 	3,780	 	 	 	5	 	 	 	4,000	 	 	 	6	 	 	 	4,148	 	 	 	6	 	 	 	4,257	 	 	 	6	 	 	 	4,340	 	 	 	6	 	
Commercial mortgage-backed securities	 	 	3,332	 	 	 	4	 	 	 	3,426	 	 	 	5	 	 	 	3,393	 	 	 	5	 	 	 	3,387	 	 	 	5	 	 	 	3,283	 	 	 	5	 	
Other asset-backed securities	 	 	3,067	 	 	 	4	 	 	 	3,060	 	 	 	4	 	 	 	3,057	 	 	 	4	 	 	 	3,181	 	 	 	4	 	 	 	3,214	 	 	 	4	 	
State and political subdivisions	 	 	2,876	 	 	 	4	 	 	 	2,926	 	 	 	4	 	 	 	2,860	 	 	 	4	 	 	 	2,805	 	 	 	4	 	 	 	2,710	 	 	 	4	 	
Non-investment grade fixed maturity securities	 	 	2,309	 	 	 	3	 	 	 	2,328	 	 	 	3	 	 	 	2,425	 	 	 	3	 	 	 	2,557	 	 	 	3	 	 	 	2,518	 	 	 	3	 	
Equity securities:	 				 			 	 				 				 				 				 				 				 				 				
Common stocks and mutual funds	 	 	210	 	 	 	1	 	 	 	229	 	 	 	—  	 	 	 	211	 	 	 	—  	 	 	 	219	 	 	 	—  	 	 	 	202	 	 	 	—  	 	
Preferred stocks	 	 	589	 	 	 	1	 	 	 	591	 	 	 	1	 	 	 	554	 	 	 	1	 	 	 	636	 	 	 	1	 	 	 	507	 	 	 	1	 	
Commercial mortgage loans	 	 	6,336	 	 	 	8	 	 	 	6,341	 	 	 	8	 	 	 	6,268	 	 	 	8	 	 	 	6,237	 	 	 	8	 	 	 	6,107	 	 	 	8	 	
Restricted commercial mortgage loans related to securitization entities	 	 	99	 	 	 	—  	 	 	 	107	 	 	 	—  	 	 	 	111	 	 	 	—  	 	 	 	118	 	 	 	—  	 	 	 	122	 	 	 	—  	 	
Policy loans	 	 	1,789	 	 	 	2	 	 	 	1,786	 	 	 	3	 	 	 	1,818	 	 	 	3	 	 	 	1,824	 	 	 	2	 	 	 	1,761	 	 	 	3	 	
Cash, cash equivalents, restricted cash and short-term investments	 	 	3,605	 	 	 	5	 	 	 	3,777	 	 	 	5	 	 	 	3,623	 	 	 	5	 	 	 	3,799	 	 	 	5	 	 	 	4,021	 	 	 	5	 	
Securities lending	 	 	252	 	 	 	1	 	 	 	268	 	 	 	—  	 	 	 	237	 	 	 	—  	 	 	 	226	 	 	 	1	 	 	 	281	 	 	 	1	 	
Other invested assets:	 	Limited partnerships	 	 	301	 	 	 	1	 	 	 	258	 	 	 	—  	 	 	 	244	 	 	 	—  	 	 	 	240	 	 	 	—  	 	 	 	224	 	 	 	—  	 	
	 	Derivatives:	 				 			 	 				 				 				 				 				 				 				 				
	 	Long-term care (LTC) forward starting swap—cash flow	 	 	54	 	 	 	—  	 	 	 	74	 	 	 	—  	 	 	 	70	 	 	 	—  	 	 	 	243	 	 	 	—  	 	 	 	227	 	 	 	—  	 	
	 	Other cash flow	 	 	114	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	2	 	 	 	—  	 	 	 	2	 	 	 	—  	 	 	 	4	 	 	 	—  	 	
	 	Equity index options—non-qualified	 	 	60	 	 	 	—  	 	 	 	80	 	 	 	—  	 	 	 	81	 	 	 	—  	 	 	 	81	 	 	 	—  	 	 	 	77	 	 	 	—  	 	
	 	Other non-qualified	 	 	1	 	 	 	—  	 	 	 	121	 	 	 	—  	 	 	 	108	 	 	 	—  	 	 	 	418	 	 	 	1	 	 	 	367	 	 	 	1	 	
	 	Trading portfolio	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	71	 	 	 	—  	 	
	 	Restricted other invested assets related to securitization entities	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	81	 	 	 	—  	 	 	 	84	 	 	 	—  	 	
	 	Other	 	 	130	 	 	 	—  	 	 	 	109	 	 	 	—  	 	 	 	61	 	 	 	—  	 	 	 	21	 	 	 	—  	 	 	 	18	 	 	 	—  	 	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total invested assets and cash	 	$	74,620	 	 	 	100	% 	 	$	76,267	 	 	 	100	% 	 	$	75,940	 	 	 	100	% 	 	$	76,089	 	 	 	100	% 	 	$	74,670	 	 	 	100	% 	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Public Fixed Maturity Securities—Credit Quality:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NRSRO  (2) Designation	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
AAA	 		 	$	12,673	 	 	 	29	% 	 	$	13,248	 	 	 	29	% 	 	$	13,494	 	 	 	30	% 	 	$	13,541	 	 	 	30	% 	 	$	13,270	 	 	 	30	% 	
AA	 		 	 	4,409	 	 	 	10	 	 	 	4,380	 	 	 	10	 	 	 	4,221	 	 	 	9	 	 	 	4,244	 	 	 	9	 	 	 	4,369	 	 	 	10	 	
A	 		 	 	12,637	 	 	 	28	 	 	 	13,261	 	 	 	29	 	 	 	13,328	 	 	 	29	 	 	 	13,044	 	 	 	29	 	 	 	12,770	 	 	 	29	 	
BBB	 		 	 	13,164	 	 	 	30	 	 	 	13,271	 	 	 	29	 	 	 	13,262	 	 	 	29	 	 	 	12,972	 	 	 	29	 	 	 	12,688	 	 	 	28	 	
BB	 		 	 	1,328	 	 	 	3	 	 	 	1,356	 	 	 	3	 	 	 	1,413	 	 	 	3	 	 	 	1,476	 	 	 	3	 	 	 	1,489	 	 	 	3	 	
B	 		 	 	126	 	 	 	—  	 	 	 	109	 	 	 	—  	 	 	 	115	 	 	 	—  	 	 	 	114	 	 	 	—  	 	 	 	113	 	 	 	—  	 	
CCC and lower	 		 	 	40	 	 	 	—  	 	 	 	40	 	 	 	—  	 	 	 	49	 	 	 	—  	 	 	 	60	 	 	 	—  	 	 	 	60	 	 	 	—  	 	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total public fixed maturity securities	 	$	44,377	 	 	 	100	% 	 	$	45,665	 	 	 	100	% 	 	$	45,882	 	 	 	100	% 	 	$	45,451	 	 	 	100	% 	 	$	44,759	 	 	 	100	% 	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Private Fixed Maturity Securities—Credit Quality:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NRSRO  (2) Designation	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
AAA	 		 	$	1,973	 	 	 	12	% 	 	$	1,848	 	 	 	11	% 	 	$	1,818	 	 	 	11	% 	 	$	1,753	 	 	 	11	% 	 	$	1,695	 	 	 	11	% 	
AA	 		 	 	2,125	 	 	 	13	 	 	 	2,148	 	 	 	13	 	 	 	2,039	 	 	 	12	 	 	 	2,023	 	 	 	12	 	 	 	1,970	 	 	 	12	 	
A	 		 	 	4,731	 	 	 	28	 	 	 	4,856	 	 	 	29	 	 	 	4,835	 	 	 	29	 	 	 	4,957	 	 	 	30	 	 	 	4,836	 	 	 	31	 	
BBB	 		 	 	7,059	 	 	 	42	 	 	 	7,185	 	 	 	43	 	 	 	7,130	 	 	 	43	 	 	 	6,853	 	 	 	42	 	 	 	6,481	 	 	 	41	 	
BB	 		 	 	762	 	 	 	5	 	 	 	765	 	 	 	4	 	 	 	801	 	 	 	5	 	 	 	854	 	 	 	5	 	 	 	802	 	 	 	5	 	
B	 		 	 	51	 	 	 	—  	 	 	 	48	 	 	 	—  	 	 	 	38	 	 	 	—  	 	 	 	40	 	 	 	—  	 	 	 	41	 	 	 	—  	 	
CCC and lower	 		 	 	2	 	 	 	—  	 	 	 	10	 	 	 	—  	 	 	 	9	 	 	 	—  	 	 	 	13	 	 	 	—  	 	 	 	13	 	 	 	—  	 	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total private fixed maturity securities	 	$	16,703	 	 	 	100	% 	 	$	16,860	 	 	 	100	% 	 	$	16,670	 	 	 	100	% 	 	$	16,493	 	 	 	100	% 	 	$	15,838	 	 	 	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.                     	
 
43

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
 Fixed Maturity Securities Summary
(amounts in millions)

 	  	March 31, 2018	 	  	December 31, 2017	 	 	September 30, 2017	 	 	June 30, 2017	 	 	March 31, 2017	 	
 	  	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	  	$	5,398	 	  	 	9	% 	  	$	5,548	 	  	 	9	% 	 	$	5,670	 	  	 	9	% 	 	$	5,629	 	  	 	9	% 	 	$	5,493	 	  	 	9	% 	
State and political subdivisions	  	 	2,876	 	  	 	5	 	  	 	2,926	 	  	 	5	 	 	 	2,860	 	  	 	5	 	 	 	2,806	 	  	 	4	 	 	 	2,710	 	  	 	4	 	
Foreign government	  	 	2,299	 	  	 	4	 	  	 	2,233	 	  	 	4	 	 	 	2,226	 	  	 	4	 	 	 	2,091	 	  	 	3	 	 	 	1,817	 	  	 	3	 	
U.S. corporate	  	 	27,998	 	  	 	46	 	  	 	28,636	 	  	 	46	 	 	 	28,482	 	  	 	45	 	 	 	28,071	 	  	 	47	 	 	 	27,423	 	  	 	46	 	
Foreign corporate	  	 	12,257	 	  	 	20	 	  	 	12,611	 	  	 	20	 	 	 	12,623	 	  	 	20	 	 	 	12,430	 	  	 	20	 	 	 	12,224	 	  	 	21	 	
Residential mortgage-backed securities	  	 	3,836	 	  	 	6	 	  	 	4,057	 	  	 	6	 	 	 	4,209	 	  	 	7	 	 	 	4,319	 	  	 	7	 	 	 	4,404	 	  	 	7	 	
Commercial mortgage-backed securities	  	 	3,342	 	  	 	5	 	  	 	3,446	 	  	 	5	 	 	 	3,414	 	  	 	5	 	 	 	3,406	 	  	 	5	 	 	 	3,302	 	  	 	5	 	
Other asset-backed securities	  	 	3,074	 	  	 	5	 	  	 	3,068	 	  	 	5	 	 	 	3,068	 	  	 	5	 	 	 	3,192	 	  	 	5	 	 	 	3,224	 	  	 	5	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total fixed maturity securities	  	$	61,080	 	  	 	100	% 	  	$	62,525	 	  	 	100	% 	 	$	62,552	 	  	 	100	% 	 	$	61,944	 	  	 	100	% 	 	$	60,597	 	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Corporate Bond Holdings—Industry Sector:	  				  			 	  				  				 				  				 				  				 				  				
Investment Grade:	  				  			 	  				  				 				  				 				  				 				  				
Finance and insurance	  	$	8,934	 	  	 	22	% 	  	$	9,064	 	  	 	22	% 	 	$	9,062	 	  	 	22	% 	 	$	8,961	 	  	 	22	% 	 	$	8,661	 	  	 	22	% 	
Utilities	  	 	5,800	 	  	 	15	 	  	 	5,951	 	  	 	15	 	 	 	5,920	 	  	 	14	 	 	 	5,832	 	  	 	14	 	 	 	5,604	 	  	 	14	 	
Energy	  	 	3,381	 	  	 	8	 	  	 	3,442	 	  	 	8	 	 	 	3,360	 	  	 	8	 	 	 	3,151	 	  	 	8	 	 	 	3,049	 	  	 	8	 	
Consumer—non-cyclical	  	 	5,124	 	  	 	13	 	  	 	5,363	 	  	 	13	 	 	 	5,385	 	  	 	13	 	 	 	5,346	 	  	 	13	 	 	 	5,316	 	  	 	13	 	
Consumer—cyclical	  	 	1,866	 	  	 	5	 	  	 	1,973	 	  	 	5	 	 	 	1,950	 	  	 	5	 	 	 	1,907	 	  	 	5	 	 	 	1,840	 	  	 	4	 	
Capital goods	  	 	2,838	 	  	 	7	 	  	 	2,837	 	  	 	7	 	 	 	2,753	 	  	 	7	 	 	 	2,706	 	  	 	7	 	 	 	2,732	 	  	 	7	 	
Industrial	  	 	2,089	 	  	 	5	 	  	 	2,143	 	  	 	5	 	 	 	2,141	 	  	 	5	 	 	 	2,093	 	  	 	5	 	 	 	2,025	 	  	 	5	 	
Technology and communications	  	 	3,329	 	  	 	8	 	  	 	3,422	 	  	 	8	 	 	 	3,336	 	  	 	8	 	 	 	3,302	 	  	 	8	 	 	 	3,252	 	  	 	8	 	
Transportation	  	 	1,943	 	  	 	5	 	  	 	2,001	 	  	 	5	 	 	 	1,993	 	  	 	5	 	 	 	1,853	 	  	 	4	 	 	 	1,841	 	  	 	5	 	
Other	  	 	2,909	 	  	 	7	 	  	 	3,001	 	  	 	7	 	 	 	3,066	 	  	 	8	 	 	 	3,077	 	  	 	8	 	 	 	3,045	 	  	 	8	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	38,213	 	  	 	95	 	  	 	39,197	 	  	 	95	 	 	 	38,966	 	  	 	95	 	 	 	38,228	 	  	 	94	 	 	 	37,365	 	  	 	94	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Non-Investment Grade:	  				  			 	  				  				 				  				 				  				 				  				
Finance and insurance	  	 	201	 	  	 	1	 	  	 	199	 	  	 	1	 	 	 	221	 	  	 	1	 	 	 	219	 	  	 	1	 	 	 	244	 	  	 	1	 	
Utilities	  	 	77	 	  	 	—  	 	  	 	64	 	  	 	—  	 	 	 	65	 	  	 	—  	 	 	 	69	 	  	 	—  	 	 	 	51	 	  	 	—  	 	
Energy	  	 	456	 	  	 	1	 	  	 	506	 	  	 	1	 	 	 	543	 	  	 	1	 	 	 	653	 	  	 	2	 	 	 	685	 	  	 	2	 	
Consumer—non-cyclical	  	 	224	 	  	 	1	 	  	 	180	 	  	 	1	 	 	 	159	 	  	 	—  	 	 	 	182	 	  	 	—  	 	 	 	189	 	  	 	1	 	
Consumer—cyclical	  	 	176	 	  	 	—  	 	  	 	172	 	  	 	—  	 	 	 	188	 	  	 	1	 	 	 	186	 	  	 	1	 	 	 	183	 	  	 	—  	 	
Capital goods	  	 	173	 	  	 	—  	 	  	 	163	 	  	 	—  	 	 	 	155	 	  	 	—  	 	 	 	155	 	  	 	—  	 	 	 	162	 	  	 	—  	 	
Industrial	  	 	219	 	  	 	1	 	  	 	247	 	  	 	1	 	 	 	263	 	  	 	1	 	 	 	266	 	  	 	1	 	 	 	251	 	  	 	1	 	
Technology and communications	  	 	418	 	  	 	1	 	  	 	405	 	  	 	1	 	 	 	418	 	  	 	1	 	 	 	416	 	  	 	1	 	 	 	403	 	  	 	1	 	
Transportation	  	 	17	 	  	 	—  	 	  	 	11	 	  	 	—  	 	 	 	31	 	  	 	—  	 	 	 	30	 	  	 	—  	 	 	 	29	 	  	 	—  	 	
Other	  	 	81	 	  	 	—  	 	  	 	103	 	  	 	—  	 	 	 	96	 	  	 	—  	 	 	 	97	 	  	 	—  	 	 	 	85	 	  	 	—  	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	2,042	 	  	 	5	 	  	 	2,050	 	  	 	5	 	 	 	2,139	 	  	 	5	 	 	 	2,273	 	  	 	6	 	 	 	2,282	 	  	 	6	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total	  	$	40,255	 	  	 	100	% 	  	$	41,247	 	  	 	100	% 	 	$	41,105	 	  	 	100	% 	 	$	40,501	 	  	 	100	% 	 	$	39,647	 	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Fixed Maturity Securities—Contractual Maturity Dates:	  				  			 	  				  				 				  				 				  				 				  				
Due in one year or less	  	$	1,677	 	  	 	3	% 	  	$	1,738	 	  	 	3	% 	 	$	1,966	 	  	 	3	% 	 	$	1,906	 	  	 	3	% 	 	$	1,776	 	  	 	3	% 	
Due after one year through five years	  	 	11,146	 	  	 	18	 	  	 	11,197	 	  	 	18	 	 	 	11,333	 	  	 	18	 	 	 	10,967	 	  	 	18	 	 	 	10,764	 	  	 	18	 	
Due after five years through ten years	  	 	12,876	 	  	 	21	 	  	 	12,865	 	  	 	20	 	 	 	12,933	 	  	 	21	 	 	 	12,722	 	  	 	21	 	 	 	12,386	 	  	 	20	 	
Due after ten years	  	 	25,129	 	  	 	41	 	  	 	26,154	 	  	 	42	 	 	 	25,629	 	  	 	41	 	 	 	25,432	 	  	 	41	 	 	 	24,741	 	  	 	41	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	50,828	 	  	 	83	 	  	 	51,954	 	  	 	83	 	 	 	51,861	 	  	 	83	 	 	 	51,027	 	  	 	83	 	 	 	49,667	 	  	 	82	 	
Mortgage and asset-backed securities	  	 	10,252	 	  	 	17	 	  	 	10,571	 	  	 	17	 	 	 	10,691	 	  	 	17	 	 	 	10,917	 	  	 	17	 	 	 	10,930	 	  	 	18	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total fixed maturity securities	  	$	61,080	 	  	 	100	% 	  	$	62,525	 	  	 	100	% 	 	$	62,552	 	  	 	100	% 	 	$	61,944	 	  	 	100	% 	 	$	60,597	 	  	 	100	% 	

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
 General Account U.S. GAAP Net Investment Income Yields
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
U.S. GAAP Net Investment Income	  			 	  				 				 				 				 				
Fixed maturity securities—taxable	  	$	635	 	  	$	648	 	 	$	640	 	 	$	649	 	 	$	641	 	 	$	2,578	 	
Fixed maturity securities—non-taxable	  	 	3	 	  	 	3	 	 	 	3	 	 	 	3	 	 	 	3	 	 	 	12	 	
Commercial mortgage loans	  	 	82	 	  	 	75	 	 	 	78	 	 	 	76	 	 	 	77	 	 	 	306	 	
Restricted commercial mortgage loans related to securitization entities	  	 	2	 	  	 	2	 	 	 	3	 	 	 	2	 	 	 	2	 	 	 	9	 	
Equity securities	  	 	10	 	  	 	10	 	 	 	9	 	 	 	9	 	 	 	8	 	 	 	36	 	
Other invested assets	  	 	37	 	  	 	39	 	 	 	35	 	 	 	30	 	 	 	31	 	 	 	135	 	
Limited partnerships	  	 	2	 	  	 	12	 	 	 	4	 	 	 	5	 	 	 	1	 	 	 	22	 	
Restricted other invested assets related to securitization entities	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	1	 	
Policy loans	  	 	43	 	  	 	33	 	 	 	39	 	 	 	39	 	 	 	42	 	 	 	153	 	
Cash, cash equivalents, restricted cash and short-term investments	  	 	12	 	  	 	10	 	 	 	10	 	 	 	10	 	 	 	6	 	 	 	36	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees	  	 	826	 	  	 	832	 	 	 	821	 	 	 	824	 	 	 	811	 	 	 	3,288	 	
Expenses and fees	  	 	(22	) 	  	 	(20	) 	 	 	(24	) 	 	 	(23	) 	 	 	(21	) 	 	 	(88	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income	  	$	804	 	  	$	812	 	 	$	797	 	 	$	801	 	 	$	790	 	 	$	3,200	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Annualized Yields	  			 	  				 				 				 				 				
Fixed maturity securities—taxable	  	 	4.4	% 	  	 	4.5	% 	 	 	4.5	% 	 	 	4.6	% 	 	 	4.5	% 	 	 	4.5	% 	
Fixed maturity securities—non-taxable	  	 	3.7	% 	  	 	3.7	% 	 	 	3.7	% 	 	 	3.7	% 	 	 	3.7	% 	 	 	3.7	% 	
Commercial mortgage loans	  	 	5.2	% 	  	 	4.8	% 	 	 	5.0	% 	 	 	4.9	% 	 	 	5.0	% 	 	 	4.9	% 	
Restricted commercial mortgage loans related to securitization entities	  	 	7.8	% 	  	 	7.3	% 	 	 	10.5	% 	 	 	6.7	% 	 	 	6.4	% 	 	 	7.7	% 	
Equity securities	  	 	5.1	% 	  	 	5.4	% 	 	 	5.1	% 	 	 	5.3	% 	 	 	4.9	% 	 	 	5.2	% 	
Other invested assets	  	 	129.8	% 	  	 	167.7	% 	 	 	1251.7	% 	 	 	601.0	% 	 	 	81.1	% 	 	 	132.4	% 	
Limited partnerships (1)	  	 	2.9	% 	  	 	19.1	% 	 	 	6.6	% 	 	 	8.6	% 	 	 	1.9	% 	 	 	9.4	% 	
Restricted other invested assets related to securitization entities	  	 	—  	% 	  	 	—  	% 	 	 	—  	% 	 	 	4.8	% 	 	 	—  	% 	 	 	1.1	% 	
Policy loans	  	 	9.6	% 	  	 	7.3	% 	 	 	8.6	% 	 	 	8.7	% 	 	 	9.6	% 	 	 	8.6	% 	
Cash, cash equivalents, restricted cash and short-term investments	  	 	1.3	% 	  	 	1.1	% 	 	 	1.1	% 	 	 	1.0	% 	 	 	0.7	% 	 	 	1.0	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees	  	 	4.8	% 	  	 	4.7	% 	 	 	4.7	% 	 	 	4.7	% 	 	 	4.7	% 	 	 	4.7	% 	
Expenses and fees	  	 	-0.2	% 	  	 	-0.1	% 	 	 	-0.2	% 	 	 	-0.1	% 	 	 	-0.2	% 	 	 	-0.1	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income	  	 	4.6	% 	  	 	4.6	% 	 	 	4.5	% 	 	 	4.6	% 	 	 	4.5	% 	 	 	4.6	% 	

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 and equity 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 49 herein for average invested assets and cash used in the yield calculation.

(1)  	Limited partnership investments are equity-based and do not have fixed returns by period.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Net Investment Gains (Losses), Net—Detail
(amounts in millions)

 	  	2018	 	  	2017	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net realized gains (losses) on available-for-sale securities:	  			 	  				 				 				 				 				
Fixed maturity securities:	  			 	  				 				 				 				 				
U.S. corporate	  	$	(3	) 	  	$	38	 	 	$	27	 	 	$	56	 	 	$	15	 	 	$	136	 	
U.S. government, agencies and government-sponsored enterprises	  	 	—  	 	  	 	1	 	 	 	—  	 	 	 	1	 	 	 	(10	) 	 	 	(8	) 	
Foreign corporate	  	 	(3	) 	  	 	1	 	 	 	(2	) 	 	 	3	 	 	 	20	 	 	 	22	 	
Foreign government	  	 	—  	 	  	 	—  	 	 	 	(1	) 	 	 	1	 	 	 	2	 	 	 	2	 	
Mortgage-backed securities	  	 	(2	) 	  	 	(1	) 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	
Asset-backed securities	  	 	—  	 	  	 	(1	) 	 	 	—  	 	 	 	(8	) 	 	 	(5	) 	 	 	(14	) 	
Equity securities (1)	  	 	—  	 	  	 	2	 	 	 	3	 	 	 	—  	 	 	 	2	 	 	 	7	 	
Foreign exchange	  	 	(1	) 	  	 	1	 	 	 	3	 	 	 	10	 	 	 	5	 	 	 	19	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total net realized gains (losses) on available-for-sale securities	  	 	(9	) 	  	 	41	 	 	 	30	 	 	 	63	 	 	 	29	 	 	 	163	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Impairments:	  			 	  				 				 				 				 				
Corporate fixed maturity securities	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(1	) 	 	 	(1	) 	
Limited partnerships	  	 	—  	 	  	 	(1	) 	 	 	—  	 	 	 	(1	) 	 	 	—  	 	 	 	(2	) 	
Equity securities	  	 	—  	 	  	 	(1	) 	 	 	(1	) 	 	 	(1	) 	 	 	—  	 	 	 	(3	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total impairments	  	 	—  	 	  	 	(2	) 	 	 	(1	) 	 	 	(2	) 	 	 	(1	) 	 	 	(6	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net realized gains (losses) on equity securities sold (1)	  	 	2	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Net unrealized gains (losses) on equity securities still held (1)	  	 	(18	) 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Trading securities	  	 	—  	 	  	 	—  	 	 	 	—  	 	 	 	1	 	 	 	—  	 	 	 	1	 	
Limited partnerships	  	 	7	 	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	
Commercial mortgage loans held-for-sale market valuation allowance	  	 	—  	 	  	 	—  	 	 	 	1	 	 	 	1	 	 	 	1	 	 	 	3	 	
Net gains (losses) related to securitization entities	  	 	—  	 	  	 	2	 	 	 	1	 	 	 	2	 	 	 	2	 	 	 	7	 	
Derivative instruments	  	 	(13	) 	  	 	4	 	 	 	54	 	 	 	36	 	 	 	3	 	 	 	97	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), gross	  	 	(31	) 	  	 	45	 	 	 	85	 	 	 	101	 	 	 	34	 	 	 	265	 	
Adjustment for DAC and other intangible amortization and certain benefit reserves	  	 	3	 	  	 	3	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	3	 	
Adjustment for net investment (gains) losses attributable to noncontrolling interests	  	 	11	 	  	 	(7	) 	 	 	(23	) 	 	 	(22	) 	 	 	(14	) 	 	 	(66	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), net	  	$	(17	) 	  	$	41	 	 	$	62	 	 	$	79	 	 	$	20	 	 	$	202	 	

 

(1)  	The change in the classification of equity securities related to the impact of adopting new accounting guidance related to the recognition and measurement of financial assets and financial liabilities on January 1, 2018.	
 
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Reconciliations of Non-GAAP Measures
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 Reconciliation of Operating ROE
(amounts in millions)

Twelve Month Rolling Average ROE	  	Twelve months ended	 	
 	  	March 31,
2018	 	  	December 31,
2017	 	  	September 30,
2017	 	  	June 30,
2017	 	  	March 31,
2017	 	
U.S. GAAP Basis ROE	  				  				  				  				  				
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the twelve months ended (1)	  	$	774	 	  	$	817	 	  	$	342	 	  	$	(145	) 	  	$	(175	) 	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss) (2)	  	$	10,091	 	  	$	9,923	 	  	$	9,778	 	  	$	9,781	 	  	$	9,770	 	
U.S. GAAP Basis ROE (1)/(2)	  	 	7.7	% 	  	 	8.2	% 	  	 	3.5	% 	  	 	-1.5	% 	  	 	-1.8	% 	
						
Operating ROE	  				  				  				  				  				
Adjusted operating income (loss) for the twelve months ended (1)	  	$	678	 	  	$	696	 	  	$	233	 	  	$	(248	) 	  	$	(276	) 	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss) (2)	  	$	10,091	 	  	$	9,923	 	  	$	9,778	 	  	$	9,781	 	  	$	9,770	 	
Operating ROE (1)/(2)	  	 	6.7	% 	  	 	7.0	% 	  	 	2.4	% 	  	 	-2.5	% 	  	 	-2.8	% 	
		
Quarterly Average ROE	  	Three months ended	 	
 	  	March 31,
2018	 	  	December 31,
2017	 	  	September 30,
2017	 	  	June 30,
2017	 	  	March 31,
2017	 	
U.S. GAAP Basis ROE	  				  				  				  				  				
Net income available to Genworth Financial, Inc.’s common stockholders for the period ended (3)	  	$	112	 	  	$	353	 	  	$	107	 	  	$	202	 	  	$	155	 	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss) (4)	  	$	10,391	 	  	$	10,213	 	  	$	9,979	 	  	$	9,820	 	  	$	9,633	 	
Annualized U.S. GAAP Quarterly Basis ROE (3)/(4)	  	 	4.3	% 	  	 	13.8	% 	  	 	4.3	% 	  	 	8.2	% 	  	 	6.4	% 	
						
Operating ROE	  				  				  				  				  				
Adjusted operating income for the period ended (3)	  	$	125	 	  	$	326	 	  	$	76	 	  	$	151	 	  	$	143	 	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss) (4)	  	$	10,391	 	  	$	10,213	 	  	$	9,979	 	  	$	9,820	 	  	$	9,633	 	
Annualized Operating Quarterly Basis ROE (3)/(4)	  	 	4.8	% 	  	 	12.8	% 	  	 	3.0	% 	  	 	6.2	% 	  	 	5.9	% 	
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 (loss), is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss), for the most recent five quarters.	
(3)  	Net income available to Genworth Financial, Inc.’s common stockholders and adjusted operating income from page 9 herein.	
(4)  	Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss), is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss).	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2018
 
 Reconciliation of Core Yield

 	 	 	  	2018	 	  	2017	 	
 	 	(Assets—amounts in billions)	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
	 	Reported—Total Invested Assets and Cash	  	$	74.6	 	  	$	76.3	 	  	$	75.9	 	  	$	76.1	 	  	$	74.7	 	  	$	76.3	 	
	 	Subtract:	  			 	  				  				  				  				  				
	 	Securities lending	  	 	0.2	 	  	 	0.3	 	  	 	0.2	 	  	 	0.2	 	  	 	0.3	 	  	 	0.3	 	
	 	Unrealized gains (losses)	  	 	3.7	 	  	 	5.4	 	  	 	5.1	 	  	 	5.6	 	  	 	4.6	 	  	 	5.4	 	
	 		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
	 	Adjusted end of period invested assets and cash	  	$	70.7	 	  	$	70.6	 	  	$	70.6	 	  	$	70.3	 	  	$	69.8	 	  	$	70.6	 	
	 		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
(A)	 	Average Invested Assets and Cash Used in Reported Yield Calculation	  	$	70.7	 	  	$	70.6	 	  	$	70.5	 	  	$	70.1	 	  	$	69.7	 	  	$	70.1	 	
	 	Subtract:	  			 	  				  				  				  				  				
	 	Restricted commercial mortgage loans and other invested assets related to securitization entities (1)	  	 	0.1	 	  	 	—  	 	  	 	0.1	 	  	 	0.1	 	  	 	0.1	 	  	 	0.1	 	
	 		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
(B)	 	Average Invested Assets and Cash Used in Core Yield Calculation	  	$	70.6	 	  	$	70.6	 	  	$	70.4	 	  	$	70.0	 	  	$	69.6	 	  	$	70.0	 	

	 	(Income—amounts in millions)	  			 	  				  				  				  				  				
		 						
(C)	 	Reported—Net Investment Income	  	$	804	 	  	$	812	 	  	$	797	 	  	$	801	 	  	$	790	 	  	$	3,200	 	
	 	Subtract:	  			 	  				  				  				  				  				
	 	Bond calls and commercial mortgage loan prepayments	  	 	11	 	  	 	13	 	  	 	10	 	  	 	8	 	  	 	6	 	  	 	37	 	
	 	Other non-core items (2)	  	 	(2	) 	  	 	3	 	  	 	3	 	  	 	8	 	  	 	3	 	  	 	17	 	
	 	Restricted commercial mortgage loans and other invested assets related to securitization entities (1)	  	 	1	 	  	 	2	 	  	 	1	 	  	 	2	 	  	 	1	 	  	 	6	 	
	 		  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
(D)	 	Core Net Investment Income	  	$	794	 	  	$	794	 	  	$	783	 	  	$	783	 	  	$	780	 	  	$	3,140	 	

(C) / (A)	 	Reported Yield	  	 	4.55	% 	  	 	4.60	% 	  	 	4.52	% 	  	 	4.57	% 	  	 	4.53	% 	  	 	4.56	% 	
(D) / (B)	 	Core Yield	  	 	4.50	% 	  	 	4.50	% 	  	 	4.45	% 	  	 	4.47	% 	  	 	4.48	% 	  	 	4.48	% 	
 
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 and other invested assets.
(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
FIRST QUARTER 2018
 Financial Strength Ratings As Of April 30, 2018

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)	  	Ba1 (Questionable)	  	Not rated	
Genworth Financial Mortgage Insurance Company Canada (1)	  	A+ (Strong)	  	Not rated	  	Not rated	
Genworth Financial Mortgage Insurance Pty Limited (Australia) (2)	  	A+ (Strong)	  	Baa1 (Adequate)	  	Not rated	
Genworth Life Insurance Company	  	B+ (Weak)	  	B3 (Poor)	  	B- (Fair)	
Genworth Life and Annuity Insurance Company	  	B+ (Weak)	  	Ba3 (Questionable)	  	B+ (Good)	
Genworth Life Insurance Company of New York	  	B+ (Weak)	  	B3 (Poor)	  	B- (Fair)	
The S&P, Moody’s, A.M. Best, Dominion Bond Rating Service (DBRS) and Fitch Rating Service (Fitch) 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 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 major 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 fifth-, eleventh- and fourteenth-highest of S&P’s 21 ratings categories.
Moody’s states that insurance companies rated “Baa” (Adequate) offer adequate financial security and that insurance companies rated “Ba” (Questionable) or “B” (Poor) offer questionable financial security. The “Baa” (Adequate), “Ba” (Questionable) and “B” (Poor) ranges are the fourth-, fifth- 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 group, 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 “Baa1,” “Ba1,” “Ba3” and “B3” ratings are the eighth-, eleventh-, thirteenth and sixteenth-highest, respectively, of Moody’s 21 ratings categories.
A.M. Best states that its “B+” (Good) rating is assigned to those companies that have, in its opinion, a good ability to meet their ongoing insurance obligations while “B-” (Fair) is assigned to those companies that have, in its opinion, a fair ability to meet their ongoing insurance obligations. The “B+” (Good) and “B-” (Fair) ratings are the sixth- and eighth-highest of 15 ratings assigned by A.M. Best, which range from “A++” to “F.”
DBRS states that long-term obligations rated “AA” are of superior credit quality. The capacity for the payment of financial obligations is considered high and unlikely to be significantly vulnerable to future events. Credit quality differs from “AAA” only to a small degree.
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, DBRS, Fitch and HR Ratings review their ratings periodically and the company cannot assure you that it will maintain the current ratings in the future. Other agencies may also rate the company or its insurance subsidiaries on a solicited or an unsolicited basis.

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