Exhibit 99.1

Genworth Financial Announces Third Quarter 2015 Results

Net Operating Income Of $0.13 Per Share; Net Loss Per Share Of $0.57 Driven By Planned Life Block Sale

Richmond, VA (October 29, 2015) – Genworth Financial, Inc. (NYSE: GNW) today reported results for the period ended September 30, 2015. The company reported a net loss¹ of $284 million, or $0.57 per diluted share, compared with a net loss of $844 million, or $1.70 per diluted share, in the third quarter of 2014. The net loss in the quarter includes an after-tax loss of $296 million, or $0.59 per diluted share, related to a write-off of deferred acquisition costs (DAC) from the previously announced life block sale. Net operating income² for the third quarter of 2015 was $64 million, or $0.13 per diluted share, compared with a net operating loss of $323 million, or $0.65 per diluted share, in the third quarter of 2014.

Strategic Update

As of September 30, 2015, the U.S. mortgage insurance (MI) business would be compliant with the private mortgage insurer eligibility requirements (PMIERs) capital requirements, with a prudent buffer, when including:

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The company has generated or expects to generate a total of approximately $525 million in PMIERs capital credit year-to-date from three reinsurance transactions covering the 2009 through 2015 books of business in addition to the intercompany sale of its ownership of affiliated preferred securities of approximately $200 million. The company will work to maintain a prudent level of capital in excess of the PMIERs capital requirements.

The company continues to make progress on the completion of the planned sale of its lifestyle protection insurance business. The transaction is expected to generate approximately $400 million in net proceeds and close by the end of 2015, subject to customary conditions, including requisite regulatory approvals.

In September 2015, the company announced it had agreed to sell certain blocks of its term life insurance to Protective Life Insurance Company which is expected to generate initial capital of approximately $100 to $150 million in aggregate to Genworth. The transaction is expected to utilize all of the net operating losses in the U.S. life insurance companies resulting in expected intercompany tax payments over time to the holding company and other entities for the use of tax benefits. The transaction is expected to close in the first quarter of 2016, subject to customary conditions, including requisite regulatory approvals.

In October 2015, the company announced it had entered into an agreement to sell its European mortgage insurance business to AmTrust Financial Services, Inc. that is expected to result in net proceeds of approximately $55 million. These proceeds will provide additional capital credit to Genworth Mortgage Insurance Corporation under PMIERs. Additionally, the company expects to record an after-tax GAAP loss of approximately $140 million related to the sale in the fourth quarter of 2015. The transaction is expected to close in the first quarter of 2016 and is subject to customary conditions, including requisite regulatory approvals.

The company has taken and will continue to take steps to bring cash expenses in line with near-term sales levels. The company now expects to achieve its annualized cash savings target of $100 million pre-tax or more in the first half of 2016.

“Our Global Mortgage Insurance Division is performing well with strong loss ratios and U.S. MI made substantial progress towards PMIERs compliance. Long term care insurance remains challenged, but we continue to receive significant premium rate increases and claims experience remained in line with our expectations,” said Tom McInerney, President and CEO. “We are making progress on our strategic priorities and will continue to explore strategic options to accelerate our turnaround.”

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Net investment losses, net of taxes and other adjustments, were $22 million in the quarter, compared to net investment gains of $4 million in the prior quarter and net investment losses of $10 million in the prior year. Total impairments, net of tax, were $6 million in the quarter, compared to none in the prior quarter and $4 million in the prior year.

Net investment income decreased to $783 million, compared to $793 million in the prior quarter primarily from lower limited partnership income. The reported yield for the current quarter was 4.46 percent. The core yield² was 4.39 percent, down from the prior quarter.

Net operating income (loss) results are summarized in the table below:

Net operating income (loss) represents net operating income (loss) from continuing operations excluding net investment gains (losses), goodwill impairments, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and other adjustments, net of taxes. A reconciliation of net operating income (loss) of segments and Corporate and Other activities to net loss is included at the end of this press release.

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Unless specifically noted in the discussion of results for the International Mortgage Insurance segment, references to percentage changes exclude the impact of translating foreign denominated activity into U.S. dollars (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 results in the third quarter of 2015 was an unfavorable $13 million versus the prior year.

Global Mortgage Insurance Division

Global Mortgage Insurance Division had net operating income of $91 million, compared with $110 million in the prior quarter and $85 million a year ago.

Canada Mortgage Insurance

Canada reported net operating income of $38 million versus $37 million in the prior quarter and $46 million in the prior year. The loss ratio in the quarter was 21 percent, up four points from the prior quarter driven by a seasonal increase in new delinquencies, net of cures, and flat compared to the prior year. Results included lower expenses versus the prior quarter and unfavorable foreign exchange versus the prior year of $7 million. Flow new insurance written (NIW) was up 26 percent⁴ sequentially from a seasonally larger originations market and up 15 percent⁴ year over year primarily from an increase in market penetration. In addition, the company completed several bulk transactions in the quarter of approximately $4.8 billion in total, consisting of low loan-to-value prime loans.

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Australia Mortgage Insurance

Australia reported net operating income of $21 million versus $29 million in the prior quarter and $48 million in the prior year. The loss ratio in the quarter was 29 percent, up one point sequentially and eight points from the prior year. Results in the quarter include actuarial updates to earned premiums and loss reserves which combined had a negligible impact on earnings, but did unfavorably impact the loss ratio by approximately seven points. New delinquencies were down 10 percent sequentially and cures were up 11 percent sequentially from normal seasonal variation, including improved performance in Queensland and Western Australia. Results versus the prior quarter were lower by $6 million from the company’s further sell down of approximately 14 percent of its ownership in the Australia business in May 2015, less favorable tax benefits and unfavorable foreign exchange. Results versus the prior year were also impacted by less favorable tax benefits of $15 million, an unfavorable $8 million related to the further sell down in May 2015 and unfavorable foreign exchange of $6 million. Flow NIW was up two percent⁴ sequentially and down two percent⁴ year over year.

Other Countries Mortgage Insurance

Other Countries had a net operating loss of $5 million, flat to the prior quarter and down from a net operating loss of $7 million in the prior year.

U.S. Mortgage Insurance

U.S. MI net operating income was $37 million, compared with net operating income of $49 million in the prior quarter and a net operating loss of $2 million in the prior year. The prior year included an unfavorable impact of $34 million related to loss mitigation settlements. The loss ratio in the current quarter was 43 percent, up 10 points sequentially reflecting normal seasonal variation in new flow delinquencies which increased approximately 13 percent from the prior quarter and decreased approximately 11 percent from the prior year, reflecting the continued burn through of delinquencies from the 2005 to 2008 book years. Results versus the prior year also reflected lower net investment income, primarily related to an approximately $8 million reduction from the affiliated preferred securities that were transferred to the holding company in July 2015.

Flow NIW of $9.3 billion increased 13 percent from the prior quarter from a larger purchase originations market and increased 24 percent versus the prior year primarily from a larger purchase originations market and higher refinance activity. During the third quarter, the company increased its single premium lender paid new insurance written and continues its selective participation in this market. Future volumes of this product will vary in part depending on the company’s evaluation of the risk return profile of these transactions.

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U.S. Life Insurance Division

U.S. Life Insurance Division net operating income was $40 million, compared with net operating income of $57 million in the prior quarter and a net operating loss of $322 million a year ago.

Long Term Care Insurance

Long term care insurance (LTC) had a net operating loss of $10 million, compared with net operating income of $10 million in the prior quarter and a net operating loss of $361 million in the prior year. Results in the quarter reflected $21 million of after-tax unfavorable items, due largely to corrections to reinsurance, premium taxes and group LTC reserves. The current quarter included favorable mortality on existing claims versus the prior year, unfavorable severity given the mix of new claims with a higher average reserve versus the prior year and less favorable benefits from reinsurance versus both the prior quarter and prior year. Results in the prior quarter included net favorable items of $12 million after-tax while results in the prior year included $380 million after-tax of unfavorable items. The loss ratio in the current quarter was 76 percent. Given that experience in aggregate included in this year’s claim reserves review was in line with expectations, the company made no significant adjustments in the current quarter to its assumptions and methodologies related to its LTC claim reserves.

Results for the quarter included a favorable impact from higher premiums and reduced benefit options of $19 million after-tax versus the prior quarter and $16 million after-tax versus the prior year related to premium increases from in force rate actions approved and implemented to date.

Individual LTC sales of $7 million were lower than the prior quarter and the prior year. Sales are expected to continue at low levels in the near term due to the 2014 introduction of a higher priced LTC product and lower ratings, but build over time as new products and distribution strategies are introduced.

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Life Insurance

Life insurance net operating income was $31 million, compared with $22 million in the prior quarter and $13 million in the prior year. Results in the quarter included favorable mortality versus both the prior quarter and prior year in addition to higher reinsurance expenses versus the prior year. Results in the prior year reflected $10 million of net unfavorable items. Sales of $12 million decreased compared to the prior quarter and the prior year.

Fixed Annuities

Fixed annuities net operating income was $19 million, compared with $25 million in the prior quarter and $26 million in the prior year. Results in the quarter reflected unfavorable impacts from mortality and lower limited partnership income versus both the prior quarter and prior year. Sales in the quarter totaled $260 million, up sequentially and down versus the prior year.

Corporate and Other Division

Corporate and Other Division net operating loss was $67 million, compared with $48 million in the prior quarter and $86 million in the prior year.

Runoff net operating loss was $4 million, compared with net operating income of $9 million in the prior quarter and net operating income of $5 million in the prior year reflecting unfavorable equity market performance versus the prior quarter and prior year and lower limited partnership income versus the prior quarter. Results in the prior year also included a favorable impact from refinement of DAC assumptions related to the company’s annual review of assumptions in variable annuity products.

Corporate and Other net operating loss was $63 million, compared with $57 million in the prior quarter and $91 million in the prior year. Results in the current quarter included higher legal accruals and expenses of $17 million after-tax. Results versus the prior year reflected less favorable taxes.

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Capital & Liquidity

Genworth maintains solid capital positions in its operating subsidiaries.

Key Points

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About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company committed to helping families become more financially secure, self-reliant and prepared for the future. Genworth has leadership positions in mortgage insurance and long term care insurance and product offerings in life insurance and fixed annuities that assist consumers in solving their home ownership, insurance and retirement needs. To help families start “the talk” about their futures and long term care planning, Genworth recently completed the first stage of its national #LetsTalk Tour to encourage conversations and information sharing. Headquartered in Richmond, Virginia, Genworth 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. From time to time, Genworth’s publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth Mortgage Insurance Australia Limited, separately release financial and other information about their operations. This information can be found at http://genworth.ca and http://www.genworth.com.au.

Conference Call and Financial Supplement Information

This press release and the third quarter 2015 financial supplement are now posted on the company’s website. Additional information regarding business results and strategic update will be posted on the company’s website, http://investor.genworth.com, by 7:30 a.m. on October 30, 2015. Investors are encouraged to review these materials.

Genworth will conduct a conference call on October 30, 2015 at 8:00 a.m. (ET) to discuss third quarter 2015 results and provide an update on strategic priorities. The conference call will be accessible via telephone and the Internet. The dial-in number for the conference call is 877 888.4034 or 913 489.5101 (outside the U.S.); conference ID # 726558. 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.

Replays of the call will be available through November 13, 2015 at 888 203.1112 or 719 457.0820 (outside the U.S.); conference ID # 726558. The webcast will also be archived on the company’s website.

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Use of Non-GAAP Measures

This press release includes the non-GAAP financial measures entitled “net operating income (loss)” and “net operating income (loss) per common share.” Net operating income (loss) per common 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, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and infrequent or unusual non-operating items. Gains (losses) on insurance block transactions are defined as gains (losses) on the early extinguishment of non-recourse funding obligations, early termination fees for other financing restructuring and/or resulting gains (losses) on reinsurance restructuring for certain blocks of business. 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, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions and restructuring costs are also excluded from net operating income (loss) because, in the company’s opinion, they are not indicative of overall operating trends. 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) 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.

In the third quarter of 2014, the company recorded goodwill impairments of $167 million, net of taxes, in the long-term care insurance business and $350 million, net of taxes, in the life insurance business.

In the third quarter of 2015, the company paid an early redemption payment of approximately $1 million, net of taxes and portion attributable to noncontrolling interests, related to the early redemption of Genworth Financial Mortgage Insurance Pty Limited’s notes that were scheduled to mature in 2021. In the third quarter of 2015, the company also repurchased approximately $50 million principal amount of Genworth Holdings, Inc.’s notes with various maturity dates for a loss of $1 million, net of taxes. These transactions were excluded from net operating income (loss) for the periods presented as they related to a loss on the early extinguishment of debt.

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In the third quarter of 2015, the company recorded a DAC impairment of $296 million, net of taxes, on certain term life insurance policies in connection with entering into an agreement to complete a life block transaction.

In the second quarter of 2015, the company recorded a $2 million after-tax expense related to restructuring costs as part of an expense reduction plan as the company evaluates and appropriately sizes its organizational needs and expenses.

There were no infrequent or unusual items excluded from net operating income (loss) during the periods presented other than the following item. The company recognized a tax charge of $7 million in the third quarter of 2015 from potential business portfolio changes related to its mortgage insurance business in Europe.

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 (loss) available to Genworth’s common stockholders for the three months ended September 30, 2015 and 2014, as well as for the three months ended June 30, 2015.

Adjustments to reconcile net income (loss) attributable to Genworth’s common stockholders and net operating income (loss) assume a 35 percent tax rate and are net of the portion attributable to noncontrolling interests. Net investment gains (losses) are also adjusted for DAC and other intangible amortization and certain benefit reserves.

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 is not a substitute for investment yield determined in accordance with GAAP. 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.

Results of Operations by Segment

In the first quarter of 2015, the company revised how it allocates the consolidated provision for income taxes to its operating segments to simplify the process and reflect how the chief operating decision maker is evaluating segment performance. The revised methodology applies a specific tax rate to the pre-tax income (loss) of each segment, which is then adjusted in each segment to reflect the tax attributes of items unique to that segment such as foreign income. The difference between the consolidated provision for income taxes and the sum of the provision for income taxes in each segment is reflected in Corporate and Other activities. Previously, the company calculated a unique income tax provision for each segment based on quarterly changes to tax attributes and implications of transactions specific to each product within the segment.

The annually-determined tax rates and adjustments to each segment’s provision for income taxes are estimates which are subject to review and could change from year to year. Prior year amounts have not been re-presented to reflect this revised presentation and are, therefore, not comparable to the current year provision for income taxes by segment. However, the company does not believe that the previous methodology would have resulted in a materially different segment-level provision for income taxes.

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) new insurance written for mortgage insurance; (2) annualized first-year premiums for long term care and term life

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insurance products; (3) annualized first-year deposits plus five percent of excess deposits for universal and term universal life insurance products; (4) 10 percent of premium deposits for linked-benefits products; and (5) new and additional premiums/deposits for fixed annuities. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers new insurance written, annualized first-year premiums/deposits, premium equivalents and new premiums/deposits 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 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 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. In Australia, the company has certain risk share arrangements where it provides pro-rata coverage of certain loans rather than 100 percent coverage. As a result, for loans with these risk share arrangements, the applicable pro-rata coverage amount provided is used when applying the factor. 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 measures of the company’s operating performance because they represent measures of the size of the business at a specific date which will generate revenues and profits in a future period, rather than measures of the company’s revenues or profitability during that period.

Management also regularly monitors and reports a loss ratio for the company’s businesses. For the mortgage 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 percent is utilized in certain adjustments to net operating income (loss) and in the explanation of specific variances of operating performance and investment results.

These operating performance 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.

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 (Loss) to Net 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 Results⁸

Three months ended September 30, 2015

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Reconciliation of Core Yield to Reported Yield

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