Financial Performance and Key Metrics - Genworth reported net income of $116 million and adjusted operating income of $17 million, or $0.04 per share, driven by strong performance from its mortgage insurance subsidiary, Enact, which contributed $134 million to adjusted operating income [4][5] - The estimated pre-tax statutory income for U.S. life insurance companies was approximately $68 million year-to-date through the end of Q3 2025 [4] - The company ended the quarter with $254 million in cash and liquid assets, indicating a healthy liquidity position [4][31] Business Line Performance - The long-term care (LTC) insurance segment reported an adjusted operating loss of $100 million, primarily due to unfavorable variances in actual experience [19] - Life and annuities reported adjusted operating income of $4 million, with life insurance showing an adjusted operating loss of $15 million, while annuities generated adjusted operating income of $19 million [20] - Enact's adjusted operating income was $134 million, down slightly from the previous quarter and down 9% year-over-year, reflecting a lower reserve release [21] Market Data and Key Metrics - Enact's primary insurance in force grew slightly year-over-year to $272 billion, supported by new insurance written and elevated persistency [21] - The CareScout Quality Network expanded to over 700 providers, covering over 95% of the U.S. population aged 65 and older, with over 2,500 matches achieved year-to-date [8][9] Company Strategy and Industry Competition - Genworth's strategic priorities include creating shareholder value through Enact, stabilizing legacy LTC businesses, and driving growth through CareScout [5][6] - The acquisition of Seniorly enhances CareScout's offerings, allowing the company to reach more aging adults and families beyond its policyholder base [10][11] - The company is focused on managing LTC risk through its multi-year rate action plan (MIRAP), which has achieved approximately $31.8 billion in net present value since its inception [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining momentum and delivering on strategic objectives, despite challenges in the LTC segment due to rising claims and benefit utilization [18][19] - The company anticipates that the aging baby boomer population will drive demand for long-term care services, positioning CareScout to meet this need [37] - Management emphasized the importance of premium increases and benefit reductions in achieving self-sustainability for legacy life companies [36][40] Other Important Information - The company expects to allocate between $200-$225 million to share repurchases in 2025, with a new $350 million repurchase authorization in place [32][33] - Genworth's holding company debt stands at $790 million, with a cash-interest coverage ratio of approximately seven times [33] Q&A Session Summary Question: Long-term resolution of the LTC situation - Management highlighted ongoing efforts to ensure the self-sustainability of legacy life companies through premium increases and benefit reductions, while CareScout is positioned to assist the aging population with care needs [36][37] Question: Transition to negative statutory earnings - The primary driver of pressure on statutory income is the long-term care segment, with increasing claims and benefit utilization impacting results [39][40] Question: Future statutory income expectations - Management indicated that while there may be quarter-to-quarter variations, the goal is to achieve break-even through the multi-year rate action plan, with no expectation of generating statutory income from the legacy LTC block [44]

3Q Investor Presentation Earnings Summary November 5, 2025 1 This presentation 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," "may" or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company's future business and financial performan ...