Exhibit 99.1

Genworth Financial Reports Fourth Quarter 2005 Earnings

Richmond, VA (January 26, 2006)—Genworth Financial, Inc. (NYSE: GNW) today reported net earnings for the fourth quarter of 2005 of $307 million, or $0.64 per diluted share. Net earnings for the fourth quarter of 2004 were $346 million, or $0.70 per diluted share. Net earnings for the full year of 2005 were $1,221 million, or $2.52 per diluted share, compared to net earnings of $1,157 million or $2.36 per diluted share for the full year of 2004.

Net earnings for the fourth quarter of 2005 included $7 million of after-tax gains. Net earnings for the fourth quarter of 2004 included a $68 million IPO-related net tax benefit and $24 million of after-tax gains.

Net operating earnings for the fourth quarter of 2005 were $300 million, or $0.62 per diluted share, compared to net operating earnings of $254 million or $0.52 per diluted share in the fourth quarter of 2004. Net operating earnings for the full year of 2005 were $1,222 million, or $2.52 per diluted share, compared to pro forma net operating earnings of $1,044 million or $2.13 per diluted share for the full year of 2004.

Net operating earnings for the fourth quarter of 2005 included a $19 million after-tax, or $.04 per diluted share, increase in net investment income from an adjustment to commercial mortgage loan loss reserves resulting from a change in the process for estimating credit losses.

“Genworth’s strong performance of $2.52 per share of net operating earnings in 2005 is a testament to our execution focus and growth strategies,” said Michael D. Fraizer, chairman and chief executive officer. “We have continued to effectively generate and redeploy capital, delivering solid improvement in our operating return on equity.”

Recent Highlights

2006 Outlook

“Genworth remains focused on expanding our three strong growth platforms serving the homeownership, protection and retirement income needs of consumers,” Fraizer said. “We will continue to execute growth, efficiency and capital reallocation strategies in 2006, and reaffirm our 2006 outlook for operating earnings of $2.65 to $2.75 per diluted share. At the same time, we will build our brand across global markets, driving product innovation, distribution expansion and differentiated service.”

Segment Results

Segment net operating earnings presented below are equivalent to net earnings for all segments except Corporate and Other. All earnings components discussed below are presented on an after-tax basis. For a reconciliation of the Corporate and Other segment net operating earnings to GAAP net earnings, see the disclosure at the end of this release.

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Protection Segment earnings increased 9 percent to $152 million, driven by strong growth in life insurance and $6 million of net investment income from the mortgage loan reserve adjustment. Life insurance earnings increased 18 percent from solid in-force growth, favorable mortality and $3 million from the mortgage loan reserve adjustment. Long-term care (LTC) earnings declined 7 percent, as in-force growth was more than offset by lower investment yields, lower deferred expenses, and continued low policy terminations in older blocks. LTC results this quarter included a $7 million favorable reserve adjustment related to benefit elections for a large group case. In the fourth quarter of 2004, LTC earnings benefited from a $7 million reserve release associated with a change in process for recording policy lapses. Payment Protection earnings were flat as solid business growth was offset primarily by investments in new country expansion and $1 million unfavorable foreign exchange. Group earnings were up $3 million from business growth and lower expenses.

Term life sales grew 37 percent from the ongoing combination of competitive pricing, distribution expansion and focused customer service. Total universal life sales doubled to $27 million reflecting a three-fold increase in excess deposits and a 16 percent growth in annual deposits from growth in age 50+ and survivorship product offerings. Long-term care sales increased $5 million, primarily from increased coverage elections by group LTC participants. Payment protection experienced growth across all regions as sales grew 20 percent. Group sales were up 5 percent, as higher dental and disability sales offset lower medical product sales.

RI&I Segment earnings increased to $68 million. Spread-based retail results of $43 million were driven primarily by business growth and wider interest spreads. Unusual items in both periods impacted earnings for the Spread-based retail business line:

The fourth quarter of 2005 included:

The fourth quarter of 2004 included:

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Fee-based earnings benefited from strong growth in assets under management, but were down $2 million due to favorability in guarantee fund assessments in the prior year totaling $3 million. Spread institutional earnings increased 10 percent.

Fee-based sales grew 45 percent, driven by sales of income distribution series products, which more than doubled to $201 million in the quarter. Sales benefited from the new guaranteed minimum withdrawal benefit for life product introduced in the quarter. Fee-based managed asset sales grew 57 percent driven primarily by the expansion of wholesaling support and growth in the advisor platform.

Spread-based retail sales were about flat reflecting the challenging interest rate and yield curve environment. Spread-based institutional sales of $531 million in the quarter included Genworth’s first registered notes offering of $300 million.

Mortgage Insurance Segment earnings were up 11 percent to $119 million. International mortgage insurance earnings grew 26 percent, driven by revenue growth partially offset by loss seasoning associated with normal aging of the in-force book and higher expenses related to investments in growth markets. International earnings also included $5 million of favorable foreign exchange. International new insurance written (NIW) increased 44 percent from strong account penetration in Australia and Europe as well as $1 billion of favorable foreign exchange.

U.S. Mortgage Insurance earnings declined 6 percent to $47 million primarily from higher losses including $7 million related to unusually favorable delinquencies in the prior year period and $3 million higher delinquencies in the current quarter related to areas severely impacted by hurricanes Katrina and Rita. These unfavorable impacts were mostly offset by lower paid claims of $3 million and lower tax expense of $4 million.

U.S. flow persistency increased to 68 percent in the fourth quarter versus 59 percent in the third quarter, as higher interest rates slowed refinancing activity. Domestic flow NIW increased 4 percent to $6.6 billion, reflecting continued progress in penetrating new customer segments as well as growing success in HomeOpeners^SM product sales. In total, domestic NIW decreased 6 percent as we completed fewer bulk transactions.

The Corporate and Other Segment net operating loss was $39 million in the current quarter. Losses were higher by $11 million as compared to the prior year primarily from $8 million higher taxes and higher public company costs. These impacts were partially offset by favorable investment income.

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Stockholders’ equity as of December 31, 2005 was $13.3 billion, or $28.26 per share compared with $12.9 billion, or $26.28 per share at December 31, 2004. Stockholders’ equity, excluding accumulated other comprehensive income, as of December 31, 2005 was $11.9 billion or $25.28 per share compared with $11.3 billion, or $22.99 per share at December 31, 2004.

Conference Call Information

Genworth will conduct a conference call on January 27 from 9 a.m. to 10 a.m. (EST).

The conference call will be accessible via telephone and the Internet. This earnings release and the financial supplement are now posted on the company’s website. Investors are encouraged to review all of these materials. The web cast will be available at www.genworth.com. To access the call by telephone, dial 1-800-599-9795 (U.S.) or 1-617-786-2905 (outside the U.S.), access code “Genworth”. A replay of the call will be available from 1 p.m. EST on January 27 through February 3, 2006 at 1-888-286-8010 or 1-617-801-6888 (outside the U.S.), access code 57552239. The call will also be replayed at the company’s website during this same time period.

Use of Non-GAAP Measures

This press release includes the non-GAAP financial measure entitled “net operating earnings.” The company defines net operating earnings as net earnings from continuing operations, excluding after-tax net realized investment gains and losses (which can fluctuate significantly from period to period), changes in accounting principles and infrequent or unusual non-operating items. There were no infrequent or unusual non-operating items excluded from net operating earnings for the periods presented in this press release other than a $22 million IPO-related tax charge recorded during the second quarter of 2004, a $68 million IPO-related net tax benefit recorded during the fourth quarter of 2004 and a $25 million after-tax gain related to our waiver of contractual rights under an outsourcing services agreement with GE’s global business processing operation, 60% of which was sold in the fourth quarter of 2004.

Management believes that analysis of net operating earnings enhances understanding and comparability of performance by highlighting underlying business activity and profitability drivers. However, net operating earnings should not be viewed as a substitute for GAAP net earnings. In addition, the company’s definition of net operating earnings may differ from the definitions used by other companies. The tables at the end of this press release include a reconciliation of net earnings to net operating earnings and to pro forma net operating earnings.

Due to the unpredictable nature of the items excluded from the company’s definition of net operating earnings, the company is unable to reconcile its outlook for net operating earnings to net earnings from continuing operations presented in accordance with GAAP.

From time to time, the company also references the non-GAAP financial measure entitled “operating return on equity” or “operating ROE.” The company defines operating ROE as net operating earnings divided by average stockholders’ equity, excluding accumulated other comprehensive income (AOCI) in average stockholders’ equity. Management believes that analysis of operating ROE enhances understanding of the efficiency with which the company deploys its capital. However, operating ROE as defined by the company should not be viewed as a substitute for GAAP net earnings divided by average stockholders’ equity. The tables at the end of this press release include a reconciliation of ROE to operating ROE.

Due to the unpredictable nature of net earnings and average stockholders’ equity excluding AOCI, the company is unable to reconcile its outlook for operating ROE to GAAP net earnings divided by average stockholders’ equity.

From time to time, the company also references the non-GAAP financial measure entitled “expense ratio” as a measure of productivity. The company defines expense ratio as acquisition and operating expenses, net of deferrals, divided by total revenues, excluding the effects of the payment protection business. The payment

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protection business is excluded from this ratio as its expense base is comprised of varying levels of non-deferrable acquisition costs. Management believes that analysis of the expense ratio excluding the payment protection business enhances understanding of the underlying productivity of the company. However, the expense ratio as defined by the company should not be viewed as a substitute for the GAAP expense ratio of acquisition and operating expenses, net of deferrals, divided by total revenues. In addition, the company’s definition of expense ratio may differ from the definitions used by other companies. The tables at the end of this press release include a reconciliation of the company’s GAAP expense ratio to the expense ratio as defined by the company.

All net realized investment gains (losses) are reflected in the Corporate and Other segment and are not reflected in the results of any of the company’s other segments. As a result, the segment results contained in this press release are presented on a net operating earnings basis, which is the same as segment net earnings from continuing operations before accounting change under GAAP for all segments, except Corporate and Other segment. For a reconciliation of net operating earnings for Corporate and Other segment to net earnings presented in accordance with GAAP, see the table at the end of this press release. The term “net operating loss” as used in this press release is also a non-GAAP financial measure and has an analogous meaning to “net operating earnings.”

Definition of Sales

The term “sales” as used in this press release means (1) annualized first-year premiums for term life insurance, long-term care insurance, and group life and health insurance; (2) new and additional premiums/deposits for universal life insurance, spread-based and variable products; (3) new deposits for managed assets; (4) written premiums gross of reinsurance and cancellations for payment protection insurance; and (5) new insurance written for mortgage insurance, which in each case reflects the amount of business the company generated during each period presented. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers annualized first-year premiums, new premiums/deposits, written premiums and new insurance written to be a measure of the company’s operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company’s revenues or profitability during that period. This operating measure enables 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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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. 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 due to global political, economic, business, competitive, market, regulatory and other factors and risks, including the following:

The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

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About Genworth Financial

Genworth is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 24 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information, visit www.genworth.com.

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Contact Information:

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STATEMENT OF EARNINGS INFORMATION

(Amounts in millions, except per share data)

(Unaudited)

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COMBINED STATEMENT OF EARNINGS INFORMATION

(Amounts in millions, except per share data)

(Unaudited)

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Reconciliation of Net Earnings to Net Operating Earnings

(Amounts in millions, except per share data)

(Unaudited)

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RECONCILIATION OF CORPORATE AND OTHER SEGMENT NET EARNINGS (LOSS) TO PRO FORMA NET OPERATING LOSS

(Amounts in millions)

(Unaudited)

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PRO FORMA FINANCIAL INFORMATION

(Amounts in millions)

(Unaudited)

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Reconciliation of Operating ROE

(Amounts in millions)

(Unaudited)

For purposes of computing Operating ROE, we use a 5-point quarterly average of Stockholders’ Equity, as shown below.

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Reconciliation of Expense Ratio

(Amounts in millions)

(Unaudited)