Financial Performance - Genworth Financial reported a net income of $187 million for Q1 2021, a significant improvement from a net loss of $66 million in Q1 2020[273]. - Total revenues increased by 10% to $1,985 million compared to $1,809 million in the prior year[1]. - Net investment income rose by 2% to $801 million from $782 million[1]. - Net investment gains improved significantly to $33 million from a loss of $99 million, representing a 133% change[1]. - Adjusted operating income available to common stockholders was $168 million for Q1 2021, significantly up from $20 million in Q1 2020[307]. - Basic earnings per share increased to $0.37 in Q1 2021 from a loss of $0.13 in Q1 2020, while diluted earnings per share also improved to $0.37 from a loss of $0.13[310]. - Total revenues for the U.S. Life Insurance segment increased to $1,620 million in Q1 2021, up 9% from $1,487 million in Q1 2020[404]. - Adjusted operating income available to common stockholders decreased to $62 million, down 70% from $132 million in the prior year[409]. Insurance Operations - The U.S. Mortgage Insurance segment had adjusted operating income of $126 million in Q1 2021, down from $148 million in Q1 2020, primarily due to higher losses from new delinquencies related to COVID-19[273]. - New insurance written in the U.S. Mortgage Insurance segment rose to $24.9 billion in Q1 2021, a 39% increase compared to Q1 2020, fueled by higher refinance and purchase originations[279]. - The long-term care insurance business generated adjusted operating income of $95 million in Q1 2021, up from $1 million in Q1 2020, driven by higher claim terminations and favorable development on incurred but not reported claims[273]. - The company implemented significant premium rate increases in its long-term care insurance business, receiving 43 filing approvals representing a weighted-average increase of 40% on approximately $396 million in annualized in-force premiums[280]. - The U.S. Life Insurance segment experienced a decrease of $4 million in premiums, with long-term care insurance showing a $4 million increase[2]. Strategic Initiatives - Genworth Financial plans to raise liquidity to address future debt maturities and other near-term liabilities, with a focus on long-term shareholder value[266]. - The company is focused on stabilizing its U.S. life insurance businesses through a multi-year long-term care insurance in-force rate action plan[269]. - Genworth is preparing for a planned partial sale of its U.S. mortgage insurance business, subject to market conditions and necessary approvals[266]. - Genworth is open to exploring other strategic alternatives to address future holding company debt maturities and financial obligations[266]. - The termination of the merger agreement with China Oceanwide may adversely affect Genworth's business and stock price[261]. Market Conditions - The U.S. unemployment rate was 6.0% in March 2021, down from a peak of 14.8% in April 2020, indicating a gradual economic recovery[320]. - Mortgage origination activity remained robust in Q1 2021, driven by refinance activity and strong home sales, although sales of previously owned homes decreased by 3.7% in early 2021[322]. - The total unsold inventory of single-family homes was low at a 1.9-month supply as of February 2021, contributing to rising home prices[322]. - The company continues to monitor the impact of COVID-19 on its business, with potential adverse effects on future results due to ongoing uncertainties[323]. Risk Management - As of March 31, 2021, the PMIERs sufficiency ratio for the U.S. mortgage insurance business was 159%, indicating $1,764 million above the required assets[277]. - The delinquency rate for primary insurance was 4.48% as of March 31, 2021, up from 1.78% a year earlier[365]. - Approximately 54% of new primary delinquencies in Q1 2021 were subject to a forbearance plan, compared to less than 5% in prior quarters[335]. - The company continues to monitor cash and liquid investments to ensure obligations can be met under stressed liquidity scenarios[381]. Regulatory and Compliance - Standard & Poor's modified its outlook for Genworth from Negative to Creditwatch Positive, contingent on the successful execution of its strategic plan[284]. - The GSE Restrictions require GMICO to maintain 115% of PMIERs minimum required assets through 2021, increasing to 125% thereafter[340]. - The approval process for in-force rate actions varies by state, affecting the timing and amount of premium increases realized over time[392].

Genworth Financial, Inc. (NYSE:GNW) Q1 2021 Earnings Conference Call April 30, 2021 9:00 AM ET Company Participants Tim Owens - VP, IR Tom McInerney - President and CEO Dan Sheehan - CFO and Chief Investment Officer Rohit Gupta - CEO, Genworth Mortgage Insurance Conference Call Participants Peter Troisi - Barclays Joshua Esterov - CreditSights Operator Good morning, ladies and gentlemen, and welcome to Genworth Financial's First Quarter 2021 Earnings Conference. My name is [Shion] [Ph], and I will be your c ...

Table of Contents Title of Each ClassTrading SymbolName of each exchange on which registered Class A Common Stock, par value $.001 per share GNW New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Co ...

Genworth Financial, Inc. (NYSE:GNW) Q4 2020 Earnings Conference Call February 17, 2021 9:00 AM ET Company Participants Tim Owens - Vice President, Investor Relations Tom McInerney - President and Chief Executive Officer Dan Sheehan - Chief Financial Officer and Chief Investment Officer Rohit Gupta - Chief Executive Officer, Genworth Mortgage Insurance Conference Call Participants Ryan Krueger - KBW Joshua Esterov - CreditSights Ryan Gilbert - BTIG Geoffrey Dunn - Dowling & Partners Howard Amster - Horizon G ...

Financial Data and Key Metrics Changes - The company reported strong net income of $418 million and adjusted operating income of $132 million for Q3 2020, driven by the performance of the US mortgage insurance business [12][17]. - Adjusted operating income for US Mortgage Insurance (USMI) was $141 million, a significant improvement from an adjusted operating loss of $3 million in the prior quarter [13][17]. - The company achieved $26.6 billion in new insurance written during the quarter, up 41% year-over-year, primarily due to higher refinance originations [13][21]. Business Line Data and Key Metrics Changes - The USMI business saw a loss ratio of 18% for the quarter, with new primary delinquencies down 66% sequentially [18][20]. - The Australia MI business reported adjusted operating income of $7 million, up from $1 million in the prior quarter but down from $12 million in the prior year [14][24]. - In the US life insurance segment, adjusted operating income was $14 million, up from a loss of $5 million in the prior quarter [15][25]. Market Data and Key Metrics Changes - The Australian economy showed signs of recovery, with a decrease in households utilizing loan deferral programs from 11% to 7% [23]. - The US housing market remained resilient, with improving home prices and a large origination market benefiting the USMI business [18]. Company Strategy and Development Direction - The company is focused on enhancing liquidity and preparing for a potential IPO of its USMI business, contingent on market conditions and the status of the Oceanwide transaction [10][40]. - The multiyear LTC Rate Action Plan (MYRAP) is being executed to stabilize the legacy long-term care insurance business, with $595 million of annualized in-force premiums approved [11][29]. Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the closing of the Oceanwide transaction by the end of November, pending regulatory approvals [8][9]. - The company is maintaining a conservative approach to capital management in light of ongoing economic uncertainty due to COVID-19 [14][16]. Other Important Information - The company raised $750 million of debt at the USMI holding company level to address upcoming debt maturities [10]. - The PMIERs sufficiency ratio for USMI was reported at 132%, exceeding $1 billion above published requirements [13][36]. Q&A Session Summary Question: Clarification on Oceanwide closing and potential IPO of USMI - Management indicated that Hony Capital is expected to finalize the $1.8 billion financing in November, with hopes to close the transaction by the end of the month [42]. - If the Oceanwide deal does not close, the company is prepared to launch an IPO for USMI in the first half of next year, subject to market conditions [43]. Question: Status of Hony Capital's funding - Management confirmed that Hony Capital has arranged the necessary funding and is awaiting regulatory approval from NDRC and SAFE [52][55]. Question: Market share and pricing strategy - Management acknowledged a slight decline in market share due to a more conservative approach in price-sensitive areas, but emphasized strong performance in new insurance written [58][62].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |--------------------------------------------------------------------------------------|------------------------------------------ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32195 GENWORTH FINANCIAL, INC. (Exact name of registrant as specified in its charter) Delaware 80-0873306 (State or other ...