Exhibit 99.1

Genworth Financial Announces Fourth Quarter 2009 Results

Earnings Improvement Demonstrates Strategic Progress

Richmond, VA (January 28, 2010)—Genworth Financial, Inc. (NYSE: GNW) today reported results for the fourth quarter of 2009. Net income¹, before provision for noncontrolling interests, was $75 million, or $0.15 per diluted share, compared with a net loss of $321 million, or $0.74 per diluted share, in the fourth quarter of 2008. Net operating income², before provision for noncontrolling interests, for the fourth quarter of 2009 was $128 million, or $0.26 per diluted share, compared to a net operating loss of $207 million, or $0.48 per diluted share, in the fourth quarter of 2008.

Reflecting the company’s reduction in ownership of Genworth MI Canada in the third quarter of 2009 from 100 percent to 57.5 percent in connection with an initial public offering (IPO) transaction, Genworth’s net income available to Genworth’s common stockholders was $40 million, or $0.08 per diluted share, in the fourth quarter of 2009. On this same basis, net operating income available to Genworth’s common stockholders for the fourth quarter of 2009 was $94 million, or $0.19 per diluted share.

Genworth’s results in the quarter included net operating income of $129 million from the Retirement and Protection segment and $101 million from the International segment. This was partially offset by lower net operating losses of $74 million in the U.S. Mortgage Insurance (U.S. MI) segment and a loss of $62 million in Corporate and Other. The impact of foreign exchange on net operating income in the fourth quarter of 2009 was a favorable $21 million.

Net investment losses, net of tax and other adjustments, decreased to $54 million from $89 million in the fourth quarter of 2008, and decreased on a sequential basis from $62 million in the third quarter. Net unrealized investment losses, net of tax and other adjustments, declined to $1.4 billion from $4.0 billion in the prior year quarter. Book value per share

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decreased one percent sequentially to $25.12 per share from $25.42 per share as of September 30, 2009 reflecting fluctuations in valuations for risk management related hedges. Book value per share, excluding accumulated other comprehensive income (loss), increased sequentially to $25.46 per share from $25.37 per share as of September 30, 2009.

“Genworth’s results in the quarter demonstrate sound overall earnings improvement and execution of our strategy,” said Michael D. Fraizer, chairman and chief executive officer. “Active loss mitigation, numerous repricing actions and cash reinvestment all contributed to earnings improvement. In addition, new product introductions, broadened distribution relationships and targeted service enhancements will continue to support new business growth in 2010.”

Fourth Quarter Highlights

New Business Growth

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Earnings Power & Risk Positions

Capital Management & Flexibility

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Segment Results

Net operating income (loss) presented in the tables below excludes net investment gains (losses) and other adjustments, net of taxes. In the discussion of International results, all references to percentage changes exclude the impact of foreign exchange. The percentage changes including the impact of foreign exchange are included in a table at the end of this press release.

A reconciliation of net operating income (loss) of segments and Corporate and Other activities to net income (loss) is included at the end of this press release.

In December 2009, Genworth began reporting the institutional and corporate owned life insurance (COLI) products in Corporate and Other activities, as they were deemed non-strategic. These were previously included in the Retirement and Protection segment, with the COLI product reported as part of the LTC business. All prior period amounts have been re-presented.

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Retirement and Protection

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Retirement and Protection earned $129 million compared with a loss of $199 million a year ago as the prior year quarter included a $238 million goodwill write-off. After adjusting for a $16 million favorable universal life deferred acquisition costs (DAC) unlocking in the third quarter, sequential quarter earnings grew, primarily from growth in investment income, including a $15 million improvement in investment income from limited partnership (LP) investments and $9 million from the reinvestment of excess cash. Consolidated U.S. life insurance companies ended the quarter with an estimated RBC ratio of approximately 365 percent⁵. In January, the holding company contributed $200 million of capital to the U.S. life insurance companies in support of growth opportunities in life and LTC insurance, which will further strengthen the life companies’ capital base and result in 2009 year-end statutory RBC increasing to an estimated 390 percent⁵.

Life insurance earnings decreased to $43 million from $49 million primarily from lower investment income associated with holding higher cash balances. On a sequential basis, earnings in the fourth quarter decreased as earnings in the third quarter were elevated as a result of a $16 million favorable universal life DAC unlocking, highly favorable term life mortality and certain federal tax benefits. Life insurance sales increased 10 percent sequentially, with good distributor adoption of the new suite of life insurance products which have more capital efficient designs and provide higher returns. Total life sales decreased 13 percent from the prior year primarily reflecting an overall industry decline in universal life sales.

LTC earnings declined $5 million to $49 million, as profit emergence from favorable new block business growth and higher premiums from the rate increase on old block policies was more than offset by higher claims in the Medicare Supplement line and lower current quarter terminations in the old LTC block. Individual LTC sales decreased $3 million year-over-year, primarily reflecting an overall industry decline in LTC new business. Sales on a sequential quarter basis increased $2 million through improvements in sales through brokerage general agencies and financial institutions.

Wealth management earnings decreased from $8 million to $7 million as increased revenue from higher AUM was offset by expenses related to investments for future growth. Net flows were positive for the third consecutive quarter improving to $605 million compared with $468

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million in the third quarter. Net flows, combined with favorable market performance, resulted in a $0.9 billion sequential increase in AUM.

Retirement income fee-based earnings increased to $18 million from a $109 million loss in the prior year. Results in the prior year included a $53 million write-off of goodwill and a significant acceleration in DAC amortization associated with equity market declines. Total variable annuity sales decreased six percent sequentially to $204 million.

The retirement income spread-based business had net operating income of $12 million compared to a loss of $201 million in the prior year. Earnings in the prior year included a $185 million goodwill write-off and acceleration in DAC amortization. Total spread-based AUM remained relatively flat sequentially ending at $19.2 billion reflecting the company’s targeted annuity strategy.

International

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International earnings decreased 11 percent⁸ from the prior year while demonstrating sound performance in a difficult economic environment. On a sequential basis, earnings increased four percent⁸ reflecting stable performance in Canada and Australia mortgage insurance and improved results in lifestyle protection and other international.

In Canada, home prices improved as a result of government stimulus programs that began in late 2008 to lower interest rates which enhanced housing affordability and increased home sales. Sequentially, the unemployment rate in Canada remained relatively flat.

Total Canadian operating earnings decreased nine percent⁸ from the prior year primarily from increased losses associated with normal seasoning of the 2007 and 2008 books during a challenging economic period. On a sequential basis, the loss ratio declined from 41 percent in the third quarter to 39 percent in the fourth quarter.

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Flow NIW in Canada declined 15 percent from the prior year quarter primarily associated with tightened underwriting, economic conditions and weaker consumer confidence. Canada NIW increased approximately five percent sequentially as targeted service strategies resulted in increased sales with lenders.

The regulatory capital ratio in Canada increased sequentially to 149 percent⁵ from 147 percent, well in excess of the company’s targeted 135 percent. At the end of 2009, Canada mortgage insurance had approximately $175 million of capital in excess of regulatory requirements. GAAP book value for the Canada MI business was $2.5 billion at quarter end, of which $1.4 billion represented Genworth’s 57.5 percent ownership interest.

In Australia, a sequential lift in reported national home prices is estimated for the quarter, continuing the favorable trends the company has observed since the beginning of the year. The unemployment rate in Australia also continued to improve and ended the quarter at 5.5 percent, down from 5.7 percent at the end of the third quarter.

Australia earnings decreased 20 percent primarily from lower premiums associated with a smaller earnings curve adjustment and reduced tax benefits compared with the prior year. On a sequential basis, the loss ratio was stable. Flow NIW in Australia was down three percent from the prior year and 11 percent sequentially. This reflects stable account penetration in view of reduced government first-time homebuyer program benefits, which slowed mortgage originations, while maintaining strong lender sales penetration.

The regulatory capital ratio in Australia increased sequentially to 131 percent⁵, in excess of the minimum capital requirement of 120 percent. GAAP book value for Australia mortgage insurance at the end of the quarter was $1.5 billion.

Other international mortgage insurance had a $4 million net operating loss compared to an $8 million loss a year ago. In Europe, loss mitigation actions continued to lower RIF, which declined by approximately $1.1 billion to $4.7 billion from the prior year, with the largest reduction occurring in Spain where RIF was reduced by approximately $900 million from $1.4 billion a year ago to about $500 million at year end.

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Lifestyle protection earnings decreased to $23 million versus the prior year primarily from increased claims associated with unemployment related policies in Europe, partially offset by higher earnings from repricing actions. New claim registrations for unemployment related policies in Europe peaked in March 2009, and have subsequently trended downward. Accordingly, earnings increased sequentially from $18 million to $23 million reflecting lower losses, lower taxes and the impact of repricing, offset partially by the impact of lower sales volumes. Significant price or distribution contract changes have been made for both new and eligible in force policies, with the majority of these planned actions completed by year end. These actions will benefit earnings going forward and will mitigate the pressure from continued high unemployment on claims duration as well as an expected decline in new structured transactions.

Lifestyle protection sales decreased 10 percent as a result of the stressed economic environment in Europe and continued lower consumer lending along with selective risk management actions. Initiatives to expand lifestyle protection lender distribution relationships have been successful, with over 85 new distribution agreements completed in 2009 with new and existing clients.

In lifestyle protection, the regulatory capital ratio ended the quarter at 220 percent⁵, more than twice the regulatory requirement.

U.S. Mortgage Insurance

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U.S. MI had a $74 million net operating loss, an improvement from a $114 million loss during the prior year quarter and from a $116 million loss in the third quarter of 2009 as loss mitigation benefits continued to increase and losses declined.

Total losses decreased sequentially from $346 million in the third quarter to $272 million in the fourth quarter from lower bulk losses. Gross bulk losses decreased sequentially from $176 million to $36 million as third quarter results had reflected a settlement charge of $95 million pre-tax. Approximately two thirds of the current quarter losses were related to GSE Alt-A business. Subsequent to year end, the company executed an agreement effective January 1, 2010 resulting in the cancellation of approximately 80 percent of the GSE Alt-A bulk RIF. The agreement resulted in a total claim payment of approximately $182 million in January which was already fully reserved. This will reduce the GSE Alt-A bulk RIF from $295 million to approximately $65 million in the first quarter.

Gross flow losses increased to $274 million from $219 million sequentially as third quarter loss experience reflected favorability relating to significant reserving impacts from increased loss mitigation activity earlier in the year. On a net basis, adjusting for reinsurance benefits, losses increased to $234 million from $170 million in the third quarter.

Flow delinquencies grew at a slower rate than the previous quarter showing lower levels of seasonal increase. Flow delinquencies totaled approximately 107,500, up from approximately 100,200 and 87,600 in the third and second quarters of 2009, respectively, reflecting seasonal increases and a decline in cured delinquencies. The flow average reserve per delinquency decreased sequentially to $18,900 from $20,000 from two factors. First, the mix of delinquencies shifted from a concentration in higher loan balance states and alternative products to a more national distribution of delinquencies across traditional loan product driven by rising unemployment. Second, continuing loss mitigation activities contributed to the decline in average reserve per delinquency.

Loss mitigation activities, including workouts, presales and policy rescissions, net of reinstatements, resulted in $290 million of savings in the quarter, bringing total 2009 savings to $847 million. This included approximately $35 million in savings from delinquent loans that were modified through HAMP. Based upon reporting from the GSEs and certain servicers, Genworth estimates that there are approximately 22,200 delinquent loans that are

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currently pending within HAMP, nearly double the number at the end of the third quarter 2009. Benefits from loss mitigation in 2010 in total are expected to be at or above 2009, with the benefits mix shifting from rescissions to loan modifications.

Flow NIW increased sequentially by $300 million as the changes to underwriting guidelines in the third quarter of 2009 broadened the addressable market in which the company participates resulting in increased market share, which is estimated to have grown from nine percent to 14 percent sequentially.

The risk to capital ratio improved on a sequential basis to 14.6:1⁵ from 15.1:1 in the third quarter driven primarily by a $108 million benefit from the impact of new federal legislation allowing for expanded use of tax losses.

Corporate and Other

Corporate and other operating loss increased to $62 million primarily from higher income associated with repurchases of debt and funding agreements backing notes in the prior year quarter.

Investments

Net income in the quarter included net investment losses of $54 million, net of tax and other adjustments, including $74 million of net other-than-temporary impairments, $31 million of net realized gains from asset sales, $26 million of losses related to the sale of LPs and $6 million of gains on derivatives used for risk management purposes.

Credit related impairments totaled $74 million and were primarily comprised of

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Net unrealized investment losses were $1.4 billion, net of tax and other items, as of December 31, 2009, declining from $4.0 billion in the prior year quarter. The fixed maturity securities portfolio had gross unrealized investment losses of $3.5 billion compared to $7.9 billion as of December 31, 2008 and gross unrealized investment gains of $1.3 billion compared to $0.9 billion as of December 31, 2008.

Stockholders’ Equity

Stockholders’ equity as of December 31, 2009 increased to $12.3 billion, or $25.12 per share, compared with $8.9 billion, or $20.60 per share, as of December 31, 2008. Stockholders’ equity, excluding accumulated other comprehensive income (loss), as of December 31, 2009 increased to $12.4 billion, or $25.46 per share, compared with $12.0 billion, or $27.67 per share, as of December 31, 2008.

About Genworth Financial

Genworth Financial, Inc. (NYSE:GNW) is a leading Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 6,000 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of more than 15 million customers. Genworth operates through three segments: Retirement & Protection, U.S. Mortgage Insurance and International. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. 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.

Conference Call and Financial Supplement Information

This press release and the fourth quarter 2009 financial supplement are now posted on the company’s website. Investors are encouraged to review all of these materials.

Genworth will conduct a conference call on January 29, 2010 at 9 a.m. (ET) to discuss the quarter’s results. The conference call will be accessible via telephone and the Internet. The

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dial-in number for Genworth’s January 29 conference call is 877 741.4244 or 719 325.4896 (outside the U.S.). 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.

The webcast will be archived on the company’s website and a replay of the call will be available at 888 203.1112 or 719 457.0820 (outside the U.S.); passcode 6613249. The replay will be available through February 12, 2010.

Use of Non-GAAP Measures

This press release includes the non-GAAP financial measure entitled “net operating income (loss).” The chief operating decision maker evaluates segment performance and allocates resources on the basis of net operating income (loss). The company defines net operating income (loss) as income (loss) from continuing operations excluding net income attributable to noncontrolling interests, after-tax net investment gains (losses) and other adjustments and infrequent or unusual non-operating items. This metric excludes these items because the company does not consider them to be related to the operating performance of its segments and Corporate and Other activities. A significant component of the 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) are often subject to Genworth’s discretion and are influenced by market opportunities, as well as asset-liability matching considerations. Infrequent or unusual non-operating items are also excluded from net 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) in accordance with GAAP, the company believes that net operating income (loss), and measures that are derived from or incorporate net operating income (loss), are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. However, net operating income (loss) is not a substitute for GAAP net income (loss). In addition, the company’s definition of net operating income (loss) may differ from the definitions used by other companies. There were no infrequent or unusual non-operating items excluded from net operating income (loss) during the periods presented in this press release. The tables at the end of this press release reflect net operating income (loss) as determined in accordance with accounting guidance related to segment reporting and a

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reconciliation of net operating income (loss) of the company’s segments and Corporate and Other activities to net income (loss) for the three and twelve months ended December 31, 2009 and 2008.

Definition of Selected Operating Performance Measures

The company reports selected operating performance measures including “sales,” “assets under management” and “insurance in force” or “risk in force” which are commonly used in the insurance and investment industries as measures of operating performance. Management regularly monitors and reports the sales metric as a measure of volume of new and renewal business generated in a period. “Sales” refer to (1) annualized first-year premiums for term life insurance, long term care insurance and Medicare supplement insurance; (2) new and additional premiums/deposits for universal life insurance, linked-benefits, spread-based and variable products; (3) gross and net flows, which represent gross flows less redemptions, for the wealth management business; (4) written premiums and deposits, gross of ceded reinsurance and cancellations, and premium equivalents, where we earn a fee for administrative services only business, for lifestyle protection insurance; (5) new insurance written for mortgage insurance, which in each case reflects the amount of business the company generated during each period presented; and (6) written premiums, net of cancellations, for the Mexican insurance operations. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers annualized first-year premiums, new premiums/deposits, gross and net flows, written premiums, premium equivalents and new insurance written to be measures 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 measures of the company’s revenues or profitability during that period.

Management regularly monitors and reports assets under management for the wealth management business, insurance in force and risk in force. Assets under management for the wealth management business represent third-party assets under management that are not consolidated in the financial statements. Insurance in force for the life insurance, international and U.S. mortgage insurance businesses is a measure of the aggregate face value of outstanding insurance policies as of the respective reporting date. Risk in force for the international and U.S. mortgage insurance businesses is a measure that recognizes that the loss on any particular mortgage loan will be reduced by the net proceeds received upon

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sale of the underlying property. The company considers assets under management for its wealth management business, 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, rather than measures of the company’s revenues or profitability during that period.

This press release also includes a metric related to loss mitigation activities for the U.S. mortgage insurance business. The company defines loss mitigation activities as rescissions, cancellations, borrower loan modifications, repayment plans, lender- and borrower-titled presales and other loan workouts and claim mitigation actions. Estimated savings related to rescissions are the reduction in carried loss reserves, net of premium refunds and reinstatement of prior rescissions. Estimated savings related to loan modifications and other cure related loss mitigation actions represent the reduction in carried loss reserves. For non-cure related actions, including presales, the estimated savings represent the difference between the full claim obligation and the actual amount paid. The company believes that this metric helps to enhance the understanding of the operating performance of the U.S. mortgage insurance business.

These operating 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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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:

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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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Contact Information:

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Condensed Consolidated Statements of Income

(Amounts in millions, except per share amounts)

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Reconciliation of Net Operating Income (Loss) to Net Income (Loss)

(Amounts in millions, except per share amounts)

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Condensed Consolidated Balance Sheets

(Amounts in millions)

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Impact of Foreign Exchange on Operating Results⁹

Three months ended December 31, 2009

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