Exhibit 99.1

Genworth Financial Announces Third Quarter 2013 Results

Net Income Improves From Prior Year To $108 Million

Long Term Care Insurance Rate Actions Improve Earnings

Company Addresses Near Term Debt Maturities And Establishes Credit Line

Richmond, VA (October 29, 2013) – Genworth Financial, Inc. (NYSE: GNW) today reported results for the third quarter of 2013. The company reported net income¹ of $108 million, or $0.22 per diluted share, compared with net income of $35 million, or $0.07 per diluted share, in the third quarter of 2012. Net operating income² for the third quarter of 2013 was $119 million, or $0.24 per diluted share, compared with net operating income of $111 million, or $0.22 per diluted share, in the third quarter of 2012.

“Genworth is moving forward and rebuilding shareholder value through solid operating performance from our divisions, the increasing impact of long term care rate actions and continued achievement of key milestones,” said Tom Mclnerney, President and CEO. “We have increased our cash balance, established a new credit line, and addressed our near term debt maturities, which have strengthened our balance sheet and increased financial flexibility.”

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Net income for the quarter was negatively impacted by two charges in Corporate and Other activities consisting of $20 million from the make-whole expense related to the redemption of the company’s 2015 senior notes and an adjustment of $20 million, including $18 million from a correction of prior periods, related to non-deductible stock compensation expense resulting from cancellations.

Net investment losses, net of tax and other adjustments, were $13 million in the quarter compared to net investment losses of $2 million in the prior year. Total investment impairments, net of tax, were $3 million in the current quarter and $19 million in the prior year. The prior year included an after-tax goodwill impairment of all of the goodwill related to the International Protection segment of $86 million.

In August 2013, the company closed the sale of its wealth management business. During the quarter, the company recognized $2 million of income from discontinued operations, comprising $4 million of income and a true-up to the loss on sale of $2 million. Net proceeds of approximately $360 million, together with cash on hand at Genworth Holdings, Inc., will be used to address the company’s remaining 2014 debt at maturity or before.

Net operating income results are summarized in the table below:

Net operating income excludes net investment gains (losses), goodwill impairments, gains (losses) on the sale of businesses and restructuring charges, net of taxes. A reconciliation of net operating income of segments and Corporate and Other activities to net income is included at the end of this press release.

Unless specifically noted in the discussion of results for the International Mortgage Insurance and International Protection segments, references to percentage changes exclude the impact of foreign exchange. Percentage changes, which include the impact of foreign exchange, are found in a table at the end of this press release. The impact of foreign exchange on net operating income in the third quarter of 2013 was an unfavorable impact of $7 million versus the prior quarter and prior year.

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U.S. Life Insurance Division

U.S. Life Insurance Division net operating income was $111 million, compared with $79 million in the prior quarter and $86 million a year ago.

U.S. Life Insurance Division

Key Points

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Life Insurance

Life insurance net operating income was $54 million, compared with $27 million in the prior quarter and $22 million in the prior year. Results in the quarter included an $18 million favorable impact from a correction to reserves in the term universal life insurance product, a $12 million unfavorable tax valuation allowance on a deferred tax asset on a specific separate tax return net operating loss that is no longer expected to be realized and an $11 million net favorable impact from the unlocking of mortality and interest assumptions primarily impacting reserves and deferred acquisition costs (DAC). Mortality experience was favorable versus pricing expectations, the prior quarter and prior year because of lower frequency and severity. Prior year results included $15 million of unfavorable items, including a $6 million unfavorable impact from a life block transaction. Sales were flat versus the prior quarter and down $26 million versus the prior year when the company discontinued sales of its term universal life insurance product and began to transition to new term and universal life insurance product offerings. The company will continue to make pricing and product changes that are expected to increase sales over time.

Long Term Care Insurance

Long term care insurance net operating income was $41 million, compared with $26 million in the prior quarter and $45 million in the prior year. Results benefitted from premium increases and reduced benefits of $14 million versus the prior quarter and $26 million versus the prior year related to the premium increases approved and implemented to date. Results also included a $16 million correction that increased reserves to reflect a benefit for policyholders related to an accumulated benefit option. Mostly offsetting the increase was an $11 million favorable adjustment from a refinement of the methodology for calculating incurred but not reported reserves to more fully reflect product specific incidence rates and a $4 million favorable impact as part of the multi-stage system conversion. Total pending claims were up from the prior quarter as cancellations of pending claims were more than offset by new pending claims. Prior year results included favorable reserve adjustments of $29 million. The reported loss ratio for the current quarter was approximately 64 percent, three points lower than the prior quarter and one point higher than the prior year. Individual LTC sales of $37 million were modestly lower than the prior quarter. Sales are expected to trend down in the near term due to the cessation of sales of AARP branded products in the retail channel and the introduction of higher priced products in additional states. The company continues to utilize reinsurance in LTC as part of its capital optimization strategies.

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As previously announced in the third quarter of 2012, the company filed for LTC in force premium rate increases with the goal of achieving approximately $200 to $300 million of additional annual premiums when fully implemented by 2017. As of September 30, 2013, the company has received approvals representing approximately $155 to $160 million of the targeted premium increase.

In September 2013, the company announced that it began filing for LTC premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. The premium rate increases requested range between six and thirteen percent on more than $800 million in annualized in force premiums. Although these policies have generated positive operating earnings to date, the premium rate increases on these policies are primarily due to improvements in mortality and lower than priced-for lapse rates and are intended to return the projected lifetime loss ratios to the original priced-for loss ratios.

Fixed Annuities

Fixed annuities net operating income was $16 million, compared with $26 million in the prior quarter and $19 million in the prior year. Results in the quarter included lower limited partnership and bond call performance versus the prior quarter and spread compression versus both the prior quarter and prior year. Mortality was unfavorable versus the prior quarter. Sales in the quarter totaled $760 million, up sequentially benefitting from competitively priced products in the rising interest rate environment while still meeting or exceeding targeted returns.

U.S. Life Companies Capital

The consolidated RBC ratio is estimated to be approximately 450 percent³, up modestly from approximately 445 percent at the end of the second quarter of 2013 from in force capital generation, primarily from a reduction in variable annuity required capital related to favorable equity market trends offset by new business capital use.

Global Mortgage Insurance Division

Global Mortgage Insurance Division had net operating income of $87 million, compared with net operating income of $102 million in the prior quarter and $57 million a year ago.

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International Mortgage Insurance Segment

Key Points

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Canada Mortgage Insurance

Canada reported net operating earnings of $41 million versus $43 million in the prior quarter and $42 million in the prior year. The loss ratio in the quarter was 22 percent, down three points from the prior quarter and down eight points from the prior year primarily from a favorable shift in the geographic mix of delinquencies. Total delinquencies were flat sequentially as new delinquencies were offset by cures, processed claims, loss mitigation and improving economic conditions in most regions. Improvement in losses was more than offset by higher taxes versus the prior quarter and prior year and lower revenues versus the prior year. Flow NIW was up 30 percent⁴ sequentially from normal seasonal variation and down 15 percent⁴ year over year primarily from a smaller origination market. In addition, the company completed several bulk transactions, consisting of low loan-to-value prime loans, of approximately $3.9 billion reflecting its selective participation in this market. At quarter end, the Canada mortgage insurance business had a regulatory capital ratio of 218 percent³, well in excess of regulatory requirements. GAAP book value was $2.9 billion, of which $1.7 billion represented Genworth’s 57.4 percent ownership interest and was flat to the prior quarter.

Australia Mortgage Insurance

Australia reported net operating earnings of $61 million versus $55 million in the prior quarter and $57 million in the prior year. The loss ratio in the quarter was 31 percent, down four points sequentially and down 16 points from the prior year, and total delinquencies were down six percent sequentially from lower new delinquencies and higher cures. Improvements in losses were partially offset by unfavorable foreign exchange. Taxes were also favorable versus the prior quarter, including an $8 million favorable impact reflecting a partial reversal of an uncertain tax position. Flow NIW was up two percent⁴ sequentially and up one percent⁴ year over year as low interest rates continued to improve affordability. At quarter end, the Australia mortgage insurance business had a regulatory capital ratio of 135 percent³, in excess of regulatory requirements. The GAAP book value was $2.0 billion as of the end of the quarter, up $0.1 billion from the prior quarter.

Other Countries Mortgage Insurance

Other Countries had a net operating loss of $12 million, compared to $9 million in the prior quarter and $5 million in the prior year as the business continues to be pressured from elevated losses, primarily in Ireland.

U.S. Mortgage Insurance Segment

Key Points

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Total flow delinquencies decreased five percent sequentially and decreased 24 percent versus the prior year. New flow delinquencies increased approximately eight percent from the prior quarter from normal seasonal variation and decreased approximately 19 percent from the prior year, reflecting the continued burn through of delinquencies from the 2005 to 2008 book years. The flow average reserve per delinquency was $29,600, down slightly from the prior quarter.

Total losses were up $26 million compared to the prior quarter from a seasonal increase in new delinquency development, modest changes in aging of existing delinquencies and lower cure activity.

Loss mitigation savings were $136 million in the quarter, down $8 million from the prior quarter. Loss mitigation savings this year through September 30, 2013 were $439 million.

Flow NIW of $6.4 billion increased two percent over the prior quarter and increased 36 percent versus the prior year reflecting an increase in both refinance and purchase private mortgage insurance penetration and stable market share. Overall private mortgage insurance market penetration was up approximately three points from the prior quarter and up approximately six points year over year. The company’s estimate of market share at the end of the quarter is approximately 13 percent. Flow persistency was 79 percent. In addition, the Home Affordable Refinance Program (HARP) accounted for about $1.4 billion in the quarter of insurance that is treated as a modification of the coverage on existing insurance in force rather than NIW.

The combined U.S. MI statutory risk-to-capital ratio is estimated at 22.4:1³ at the end of the third quarter with the risk-to-capital ratio for GMICO estimated at 23.2:1³. GMICO currently maintains waivers or other authorizations from 45 states that permit the company to continue writing new business if its risk-to-capital ratio exceeds 25.0:1. Additionally, the company has separately capitalized and licensed legal entities to write new business for states where waivers are not in place, subject to the approval of applicable regulators and the GSE’s (government sponsored entities) approval. Currently, new business in one state is being written out of Genworth Residential Mortgage Assurance Corporation (GRMAC), a subsidiary of GMICO.

The company currently expects the U.S. mortgage insurance business to be modestly profitable in 2013 and expects that its 2014 results should improve over 2013. The company continues to expect seasonality in the remainder of 2013, which could cause the fourth quarter of the year to have a marginal net loss profile. Its profitability expectations are subject to the continued recovery of the U.S. housing market, the extent of seasonality that has been historically experienced in the second half of the year, and certain other items such as the cost of resolution of pending litigation.

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Corporate and Other Division

Corporate and Other Division net operating loss was $79 million, compared with $48 million in the prior quarter and $32 million in the prior year.

International Protection Segment

International Protection reported operating earnings of $4 million, compared with $1 million in the prior quarter and $8 million in the prior year. The business continues to be impacted by the slow consumer lending environment in Europe, and high unemployment in Southern Europe continues to keep losses elevated while a favorable shift in mix of contracts with profit share and lower expenses favorably impacted results in the quarter. At quarter end, the lifestyle protection business had a regulatory capital ratio of approximately 335 percent³, well in excess of regulatory requirements. Dividends of $24 million were paid to the holding company through September 30, 2013.

Runoff Segment

The Runoff segment’s net operating income was $25 million, compared with $6 million in the prior quarter and $9 million in the prior year. Results in the current quarter reflected more favorable equity market conditions versus the prior quarter. Taxes in the current quarter were also more favorable than the prior quarter and prior year. Results in the prior year included a $6 million unfavorable impact from refinement of DAC assumptions primarily related to the company’s annual review of assumptions.

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Corporate and Other

Corporate and Other’s net operating loss was $108 million, compared with $55 million in the prior quarter and $49 million in the prior year. Results in the current quarter included a $20 million make-whole expense related to the redemption of the company’s 2015 senior notes and an adjustment of $20 million, including $18 million from a correction of prior periods, related to non-deductible stock compensation expense resulting from cancellations.

Investment Portfolio Performance

Net investment income decreased to $801 million, compared to $821 million in the prior quarter primarily from unfavorable foreign exchange and lower impact from prepayment speeds on structured securities as interest rates increase. The reported yield for the current quarter was approximately 4.7 percent. The core yield² was flat to the prior quarter at approximately 4.5 percent.

Net income in the quarter included $13 million of net investment losses, net of tax, DAC amortization and other items of $4 million primarily related to mark-to-market on derivatives. Total investment impairments, net of tax, were $3 million in the current quarter and $19 million in the prior year.

Net unrealized investment gains were $1.1 billion, net of tax and other items, as of September 30, 2013 compared with $2.6 billion as of September 30, 2012 and $1.3 billion as of June 30, 2013 primarily driven by rising interest rates. The fixed maturity securities portfolio had gross unrealized investment gains of $3.7 billion compared with $6.7 billion as of September 30, 2012 and gross unrealized investment losses of $1.0 billion compared with $0.8 billion as of September 30, 2012.

Holding Company

Genworth’s holding company⁵ ended the quarter with approximately $1.3 billion⁶ of cash and liquid assets, up approximately $300 million compared to the prior quarter, from approximately $360 million of net proceeds from the sale of the wealth management business and $45 million of dividends received from the operating companies, partially offset by approximately $50 million of debt interest payments and $50 million of net other expenses. In September 2013, the company entered into a credit agreement that provides Genworth Holdings, Inc. with a three-year $300 million, multicurrency revolving credit facility, with a $100 million sublimit for letters of credit. With the addition of the credit facility, the holding company cash and liquid asset balance target changed from two to one and a half times its annual debt service expense, plus a risk buffer of $350 million. After deducting for the net proceeds from the sale of the wealth management business transaction and cash

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on hand at Genworth Holdings, Inc. that will be used to address the remaining $485 million 2014 debt at maturity or before, cash and highly liquid securities were approximately $830 million at the end of the quarter. The holding company has no debt maturities until June 2014.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement—including life insurance, long term care insurance, and financial protection coverages—and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.

Genworth operates through three divisions: U.S. Life Insurance, which includes life insurance, long term care insurance and fixed annuities; Global Mortgage Insurance, containing U.S. Mortgage Insurance and International Mortgage Insurance segments; and the Corporate and Other division, which includes the International Protection and Runoff segments. Products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth, headquartered in Richmond, Virginia, 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.

Conference Call and Financial Supplement Information

This press release and the third quarter 2013 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 7:30 a.m. on October 30, 2013. Investors are encouraged to review these materials.

Genworth will conduct a conference call on October 30, 2013 at 8 a.m. (ET) to discuss the quarter’s results and provide an update on the company’s strategy and 2013 goals. The conference call will be accessible via telephone and the Internet. The dial-in number for the conference call is 866 393.0571 or 206 453.2872 (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.

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Replays of the call will be available through November 13, 2013 at 855 859.2056 or 404 537.3406 (outside the U.S.); the conference ID # for the call is # 70370923. The webcast will also be archived on the company’s website.

Use of Non-GAAP Measures

This press release includes the non-GAAP financial measure entitled “net operating income (loss)” and “operating earnings per share.” Operating earnings per share is derived from 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 the after-tax effects of income attributable to noncontrolling interests, net investment gains (losses), goodwill impairments, gains (losses) on the sale of businesses and infrequent or unusual non-operating items. 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 and gains (losses) on the sale of businesses are also excluded from net operating income (loss) because in the company’s opinion, they are not indicative of overall operating trends. Other 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) available to Genworth’s common stockholders in accordance with GAAP, the company believes that net operating income (loss) and measures that are derived from or incorporate net operating income (loss), including net operating income (loss) per common 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 net 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 net operating income (loss) have occurred in the past and could, and in some cases will, recur in the future. Net operating income (loss) and net operating income (loss) per common share on a basic and diluted basis are not substitutes for net income (loss) available to Genworth’s common stockholders or net income (loss) available to Genworth’s common stockholders per common share on a basic and diluted basis determined in accordance with GAAP. 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 during the periods presented in this press release other than a $13 million after-tax expense recorded in the second quarter of 2013 related to restructuring costs. 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 reconciliation of net operating income (loss) of the company’s segments and Corporate and Other activities to net income available to Genworth’s common stockholders for the three months ended September 30, 2013 and 2012.

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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 those items that are not recurring in nature. Management believes that analysis of core yield enhances understanding of the investment yield of the company. However, core yield as defined by the company should not be viewed as a substitute for GAAP investment yield. 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 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 and renewal business generated in a period. Sales refer to: (1) annualized first-year premiums for term life and long term care insurance products; (2) annualized first-year deposits plus five percent of excess deposits for universal and term universal life insurance products; (3) 10 percent of premium deposits for linked-benefits products; (4) new and additional premiums/deposits for fixed annuities; (5) new insurance written for mortgage insurance; and (6) net written premiums for the lifestyle protection insurance business. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers annualized first-year premiums/deposits, premium equivalents, 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.

Management regularly monitors and reports insurance in force and risk in force. Insurance in force for the life, international mortgage and U.S. mortgage insurance businesses is a measure of the aggregate face value of outstanding insurance policies as of the respective reporting date. For the risk in force in the international mortgage insurance business, 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 percent that represents the highest expected average per-claim payment for any one underwriting year over the life of the company’s businesses in Canada and Australia. Risk in force for the U.S. mortgage insurance business is the obligation that is limited under contractual terms to the amounts less than 100 percent of the mortgage loan value. The company considers insurance in force and risk in force to be a measure of the company’s

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operating performance because they represent a measure of the size of the business at a specific date which will generate revenues and profits in a future period, rather than a measure of the company’s revenues or profitability during that period.

This press release also includes information 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, claims administration and other loan workouts. 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. Estimated savings related to claims mitigation activities represent amounts deducted or “curtailed” from claims due to acts or omissions by the insured or the servicer with respect to the servicing of an insured loan that is not in compliance with obligations under our master policy. For non-cure related actions, including presales, the estimated savings represent the difference between the full claim obligation and the actual amount paid. Loans subject to our loss mitigation actions, the results of which have been included in our reported estimated loss mitigation savings, are subject to re-default and may result in a potential claim in future periods, as well as potential future loss mitigation savings depending on the resolution of the re-defaulted loan. The company believes that this information helps to enhance the understanding of the operating performance of the U.S. mortgage insurance business as loss mitigation activities specifically impact current and future loss reserves and level of claim payments.

Management regularly monitors and reports a loss ratio for the company’s businesses. For the mortgage and lifestyle protection insurance businesses, the loss ratio is the ratio of incurred losses and loss adjustment expenses 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.

An assumed tax rate of 35% is utilized in the explanation of certain specific variances of operating performance and investment results.

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, but not limited to, 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 to Net Income

(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 Results⁷

Three months ended September 30, 2013

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Reconciliation of Net Investment Gains (Losses)

(Amounts in millions)

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Reconciliation of Core Yield to Reported Yield

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