EX-99.2

Exhibit 99.2

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021


Table of Contents	Page
Investor Letter		3
Use of Non-GAAP Measures		4
Results of Operations and Selected Operating Performance Measures		5
Financial Highlights		6

*Consolidated Quarterly Results*
Consolidated Net Income (Loss) by Quarter		8
Reconciliation of Net Income (Loss) to Adjusted Operating Income (Loss)		9
Consolidated Balance Sheets		10-11
Consolidated Balance Sheets by Segment		12-13
Deferred Acquisition Costs (DAC) Rollforward		14

*Quarterly Results by Business*
Adjusted Operating Income (Loss) and Sales - Enact Segment		16-21
Adjusted Operating Income (Loss) - U.S. Life Insurance Segment		23-26
Adjusted Operating Income (Loss) - Runoff Segment		28
Adjusted Operating Income (Loss) - Corporate and Other Activities		30

*Additional Financial Data*
Investments Summary		32
Fixed Maturity Securities Summary		33
General Account U.S. GAAP Net Investment Income Yields		34
Net Investment Gains (Losses), Net - Detail		35

*Reconciliations of Non-GAAP Measures*
Reconciliation of Operating Return On Equity (ROE)		37
Reconciliation of Reported Yield to Core Yield		38

*Corporate Information*
Financial Strength Ratings		40

Note:

Unless otherwise stated, all references in this financial supplement to income (loss) from continuing operations, income (loss) from continuing operations per share, net income (loss), net income (loss) per share, adjusted operating income (loss), adjusted operating income (loss) per share, book value and book value per share should be read as income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders, income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per share, net income (loss) available to Genworth Financial, Inc.’s common stockholders, net income (loss) available to Genworth Financial, Inc.’s common stockholders per share, non-U.S. Generally Accepted Accounting Principles (U.S. GAAP) adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders, non-GAAP adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders per share, book value available to Genworth Financial, Inc.’s common stockholders and book value available to Genworth Financial, Inc.’s common stockholders per share, respectively.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Dear Investor,

On September 20, 2021, the company completed a minority initial public offering of 18.4% of Enact Holdings, Inc. (Enact Holdings), an indirect subsidiary, and now reflects net income attributable to noncontrolling interests in its Enact segment (formerly known as the U.S. Mortgage Insurance segment). Differences in the results of operations between the company’s Enact segment included herein and the Enact Holdings standalone results are predominantly due to the allocation of corporate overhead expenses, tax differences and operating results of Enact Holdings’ mortgage insurance run-off block with reference properties in Mexico as well as the operating results of its minority ownership interest in a mortgage guarantee business in India, which the company reports in Corporate and Other activities.

On March 3, 2021, the company completed the sale of its entire ownership interest of approximately 52% in Genworth Mortgage Insurance Australia Limited (“Genworth Australia”) through an underwriting agreement. Genworth Australia, previously the primary business in the Australia Mortgage Insurance segment, is reported as discontinued operations for all periods presented. Accordingly, all prior periods reflected herein have been re-presented on this basis. The following table presents a reconciliation of adjusted operating income (loss) as previously reported to adjusted operating income (loss) re-presented to reflect the Australia mortgage insurance business as discontinued operations for the periods indicated:


(Amounts in millions)	2020
(Amounts in millions)	4Q			3Q			2Q			1Q			Total
ADJUSTED OPERATING INCOME (LOSS) AS PREVIOUSLY REPORTED	$	173		$	132		$	(21	)	$	33		$	317
Remove Australia Mortgage Insurance segment adjusted operating (income) loss reported as discontinued operations		16			(7	)		(1	)		(9	)		(1	)
Adjustment for corporate overhead allocations, net of taxes⁽¹⁾		(5	)		(4	)		(4	)		(4	)		(17	)
Tax adjustments⁽²⁾		4			4			3			—			11

RE-PRESENTED ADJUSTED OPERATING INCOME (LOSS)	$	188		$	125		$	(23	)	$	20		$	310

⁽¹⁾	Expenses previously reported in the Australia Mortgage Insurance segment and moved to Corporate and Other activities.

⁽²⁾	Tax impacts resulting from the classification of Genworth Australia as discontinued operations.

Thank you for your continued interest in Genworth Financial, Inc.

Regards,

Investor Relations

InvestorInfo@genworth.com

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Use of Non-GAAP Measures

This financial supplement includes the non-GAAP financial measures entitled “adjusted operating income (loss)” and “adjusted operating income (loss) per share.” Adjusted operating income (loss) per share is derived from adjusted operating income (loss). The chief operating decision maker evaluates segment performance and allocates resources on the basis of adjusted operating income (loss). The company defines adjusted operating income (loss) as income (loss) from continuing operations excluding the after-tax effects of income (loss) from continuing operations attributable to noncontrolling interests, net investment gains (losses), gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, initial gains (losses) on insurance block transactions, restructuring costs and infrequent or unusual non-operating items. Initial 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 initial 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 estimated future credit losses, 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. Gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, initial gains (losses) on insurance block transactions and restructuring costs are also excluded from adjusted 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 adjusted 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 Financial, Inc.’s common stockholders in accordance with U.S. GAAP, the company believes that adjusted operating income (loss) and measures that are derived from or incorporate adjusted operating income (loss), including adjusted operating income (loss) per 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 adjusted 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 adjusted operating income (loss) have occurred in the past and could, and in some cases will, recur in the future. Adjusted operating income (loss) and adjusted operating income (loss) per share on a basic and diluted basis are not substitutes for net income (loss) available to Genworth Financial, Inc.’s common stockholders or net income (loss) available to Genworth Financial, Inc.’s common stockholders per share on a basic and diluted basis determined in accordance with U.S. GAAP. In addition, the company’s definition of adjusted operating income (loss) may differ from the definitions used by other companies.

Adjustments to reconcile net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) assume a 21% 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 (see page 35).

In the fourth and third quarters of 2021, the company paid a pre-tax make-whole premium of $20 million and $6 million, respectively, related to the early redemption of Genworth Holdings, Inc.’s (Genworth Holdings) senior notes originally scheduled to mature in August 2023 and September 2021, respectively. In the fourth quarter of 2021, the company repurchased $209 million principal amount of Genworth Holdings’ senior notes due in 2023 and 2024 for a pre-tax loss of $15 million. In the first quarter of 2021, the company repurchased $146 million principal amount of Genworth Holdings’ senior notes due in September 2021 for a pre-tax loss of $4 million. During 2020, the company repurchased $84 million principal amount of Genworth Holdings’ senior notes with 2021 maturity dates for a pre-tax gain of $3 million and $1 million in the second and first quarters of 2020, respectively. In January 2020, the company paid a pre-tax make-whole expense of $9 million related to the early redemption of Genworth Holdings’ senior notes originally scheduled to mature in June 2020 and Rivermont Life Insurance Company I, the company’s indirect wholly-owned special purpose consolidated captive insurance subsidiary, early redeemed all of its $315 million outstanding non-recourse funding obligations originally due in 2050 resulting in a pre-tax loss of $4 million from the write-off of deferred borrowing costs. These transactions were excluded from adjusted operating income (loss) as they relate to gains (losses) on the early extinguishment of debt.

In the fourth quarter of 2021, the company recorded a pre-tax loss of $92 million as a result of ceding certain term life insurance policies as part of a life block transaction.

The company recorded a pre-tax expense of $5 million, $3 million, $5 million and $21 million in the fourth, third, second and first quarters of 2021, respectively, and $1 million in each of the fourth, second and first quarters of 2020 related to restructuring costs as it continues to evaluate and appropriately size its organizational needs and expenses. There were no infrequent or unusual items excluded from adjusted operating income (loss) during the periods presented.

The table on page 9 of this financial supplement provides a reconciliation of net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) for the periods presented and reflects adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting. This financial supplement includes other non-GAAP measures management believes enhances the understanding and comparability of performance by highlighting underlying business activity and profitability drivers. These additional non-GAAP measures are on pages 37 and 38 of this financial supplement.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Results of Operations and Selected Operating Performance Measures

The company’s chief operating decision maker evaluates segment performance and allocates resources on the basis of adjusted operating income (loss). The table on page 9 of this financial supplement provides a reconciliation of net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) for the periods presented and reflects adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting.

The company taxes its businesses at the U.S. corporate federal income tax rate of 21%. Each segment is then adjusted to reflect the unique tax attributes of that segment, such as permanent differences between U.S. GAAP and tax law. 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.

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.

This financial supplement contains 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 business generated in a period. Sales refer to new insurance written for mortgage insurance products included in the company’s Enact segment. The company considers new insurance written to be a measure of the operating performance of its Enact segment because it represents a measure of new sales of insurance policies during a specified period, rather than a measure of revenues or profitability during that period.

Management regularly monitors and reports insurance in-force and risk in-force for the company’s Enact segment. Insurance in-force is a measure of the aggregate unpaid principal balance as of the respective reporting date for loans insured by the company’s U.S. mortgage insurance subsidiaries. Risk in-force is based on the coverage percentage applied to the estimated current outstanding loan balance. The company considers insurance in-force and risk in-force to be measures of the operating performance of its Enact segment because they represent measures of the size of its business at a specific date which will generate revenues and profits in a future period, rather than measures of its revenues or profitability during that period.

Management also regularly monitors and reports a loss ratio for the company’s businesses. For the U.S. mortgage insurance business included in the company’s Enact segment, the loss ratio is the ratio of benefits and other changes in policy reserves to net earned premiums. For the long-term care insurance business included in the company’s U.S. Life Insurance segment, 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.

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.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Financial Highlights

(amounts in millions, except per share data)


Balance Sheet Data	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020
Total Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income	$	11,649		$	11,476		$	11,330		$	11,083		$	10,893
Total accumulated other comprehensive income		3,861			3,800			3,834			3,675			4,425

Total Genworth Financial, Inc.’s stockholders’ equity	$	15,510		$	15,276		$	15,164		$	14,758		$	15,318

Book value per share	$	30.57		$	30.11		$	29.89		$	29.14		$	30.28
Book value per share, excluding accumulated other comprehensive income	$	22.96		$	22.62		$	22.33		$	21.88		$	21.54
Common shares outstanding as of the balance sheet date		507.4			507.4			507.4			506.5			505.8

	Twelve months ended
Twelve Month Rolling Average ROE	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020
U.S. GAAP Basis ROE		8.0	%		9.1	%		10.3	%		4.0	%		1.7	%
Operating ROE⁽¹⁾		6.8	%		7.1	%		6.2	%		4.3	%		2.9	%

	Three months ended
Quarterly Average ROE	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020
U.S. GAAP Basis ROE		5.6	%		11.0	%		8.6	%		6.8	%		9.9	%
Operating ROE⁽¹⁾		5.7	%		8.4	%		6.9	%		6.1	%		7.0	%


Basic and Diluted Shares	Three months ended December 31, 2021		Twelve months ended December 31, 2021
Weighted-average common shares used in basic earnings per share calculations		507.4		506.9
Potentially dilutive securities:
Stock options, restricted stock units and stock appreciation rights		8.2		7.8

Weighted-average common shares used in diluted earnings per share calculations		515.6		514.7

⁽¹⁾	See page 37 herein for a reconciliation of U.S. GAAP Basis ROE to Operating ROE.

Consolidated Quarterly Results

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Consolidated Net Income (Loss) by Quarter

(amounts in millions, except per share amounts)


	2021												2020
	4Q			3Q		2Q			1Q		Total		4Q			3Q		2Q			1Q			Total
REVENUES:
Premiums	$	576		$	944	$	947		$	968	$	3,435	$	970		$	963	$	957		$	946		$	3,836
Net investment income		866			859		844			801		3,370		846			820		779			782			3,227
Net investment gains (losses)		132			88		70			33		323		147			351		93			(99	)		492
Policy fees and other income		162			179		180			183		704		191			184		174			180			729

Total revenues		1,736			2,070		2,041			1,985		7,832		2,154			2,318		2,003			1,809			8,284

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		861			1,143		1,161			1,218		4,383		1,157			1,273		1,447			1,337			5,214
Interest credited		127			123		127			131		508		132			137		139			141			549
Acquisition and operating expenses, net of deferrals		354			290		304			275		1,223		253			235		210			237			935
Amortization of deferred acquisition costs and intangibles		108			106		86			77		377		174			94		87			108			463
Interest expense		31			35		43			51		160		55			47		42			51			195

Total benefits and expenses		1,481			1,697		1,721			1,752		6,651		1,771			1,786		1,925			1,874			7,356

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		255			373		320			233		1,181		383			532		78			(65	)		928
Provision (benefit) for income taxes		62			67		75			59		263		82			130		23			(5	)		230

INCOME (LOSS) FROM CONTINUING OPERATIONS		193			306		245			174		918		301			402		55			(60	)		698
Income (loss) from discontinued operations, net of taxes⁽¹⁾		(1	)		12		(5	)		21		27		(35	)		34		(473	)		(12	)		(486	)

NET INCOME (LOSS)		192			318		240			195		945		266			436		(418	)		(72	)		212
Less: net income from continuing operations attributable to noncontrolling interests		29			4		—			—		33		—			—		—			—			—
Less: net income (loss) from discontinued operations attributable to noncontrolling interests		—			—		—			8		8		(1	)		18		23			(6	)		34

NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	$	163		$	314	$	240		$	187	$	904	$	267		$	418	$	(441	)	$	(66	)	$	178

NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders	$	164		$	302	$	245		$	174	$	885	$	301		$	402	$	55		$	(60	)	$	698
Income (loss) from discontinued operations available to Genworth Financial, Inc.’s common stockholders		(1	)		12		(5	)		13		19		(34	)		16		(496	)		(6	)		(520	)

NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	$	163		$	314	$	240		$	187	$	904	$	267		$	418	$	(441	)	$	(66	)	$	178


Earnings (Loss) Per Share Data:
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per share
Basic	$	0.32		$	0.59	$	0.48		$	0.35	$	1.75	$	0.60		$	0.79	$	0.11		$	(0.12	)	$	1.38
Diluted	$	0.32		$	0.59	$	0.47		$	0.34	$	1.72	$	0.59		$	0.79	$	0.11		$	(0.12	)	$	1.36
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share
Basic	$	0.32		$	0.62	$	0.47		$	0.37	$	1.78	$	0.53		$	0.83	$	(0.87	)	$	(0.13	)	$	0.35
Diluted	$	0.32		$	0.61	$	0.47		$	0.37	$	1.76	$	0.52		$	0.82	$	(0.86	)	$	(0.13	)	$	0.35
Weighted-average common shares outstanding
Basic		507.4			507.4		507.0			506.0		506.9		505.6			505.6		505.4			504.3			505.2
Diluted⁽²⁾		515.6			514.2		515.0			513.8		514.7		512.5			511.5		512.5			504.3			511.6

⁽¹⁾

Income (loss) from discontinued operations relates to the company’s former Australia mortgage insurance business that was sold on March 3, 2021 and its former lifestyle protection insurance business that was sold on December 1, 2015. Refer to page 30 for operating results of Genworth Australia reported as discontinued operations. The company recorded an after-tax unfavorable adjustment of $1 million in the fourth quarter of 2021 and an after-tax favorable adjustment of $11 million in the first quarter of 2021 associated with a refinement to its tax matters agreement liability. During the third, second and first quarters of 2021 and the fourth, third and second quarters of 2020, the company recorded after-tax income (loss) of $9 million, $(4) million, $(1) million, $(30) million, $(22) million and $(520) million, respectively, related to a secured promissory note with AXA S.A. (AXA) resulting from a settlement agreement reached in 2020 regarding a dispute over payment protection insurance claims sold by the company’s former lifestyle protection insurance business. During the first quarter of 2021 and the third quarter of 2020, based on an updated estimate, the company adjusted a liability associated with underwriting losses on a product sold by a distributor in the company’s former lifestyle protection insurance business which resulted in an after-tax benefit (loss) of $(4) million and $23 million, respectively.

⁽²⁾

Under applicable accounting guidance, companies in a loss position are required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share. Therefore, as a result of the loss from continuing operations for the three months ended March 31, 2020, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share for the three months ended March 31, 2020, as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 5.4 million would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations for the three months ended March 31, 2020, dilutive potential weighted-average common shares outstanding would have been 509.7 million.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

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

(amounts in millions, except per share amounts)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S
COMMON STOCKHOLDERS	$	163		$	314		$	240		$	187		$	904		$	267		$	418		$	(441	)	$	(66	)	$	178
Add: net income from continuing operations attributable to noncontrolling interests		29			4			—			—			33			—			—			—			—			—
Add: net income (loss) from discontinued operations attributable to noncontrolling interests		—			—			—			8			8			(1	)		18			23			(6	)		34

NET INCOME (LOSS)		192			318			240			195			945			266			436			(418	)		(72	)		212
Less: income (loss) from discontinued operations, net of taxes		(1	)		12			(5	)		21			27			(35	)		34			(473	)		(12	)		(486	)

INCOME (LOSS) FROM CONTINUING OPERATIONS		193			306			245			174			918			301			402			55			(60	)		698
Less: net income from continuing operations attributable to noncontrolling interests		29			4			—			—			33			—			—			—			—			—

INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		164			302			245			174			885			301			402			55			(60	)		698

ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO
GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:
Net investment (gains) losses, net⁽¹⁾		(133	)		(88	)		(70	)		(33	)		(324	)		(144	)		(350	)		(97	)		88			(503	)
(Gains) losses on early extinguishment of debt		35			6			—			4			45			—			—			(3	)		12			9
Initial loss from life block transaction		92			—			—			—			92			—			—			—			—			—
Expenses related to restructuring		5			3			5			21			34			1			—			1			1			3
Taxes on adjustments		1			16			14			2			33			30			73			21			(21	)		103

ADJUSTED OPERATING INCOME (LOSS)	$	164		$	239		$	194		$	168		$	765		$	188		$	125		$	(23	)	$	20		$	310

ADJUSTED OPERATING INCOME (LOSS):
Enact segment	$	125		$	134		$	135		$	126		$	520		$	95		$	141		$	(3	)	$	148		$	381
U.S. Life Insurance segment:
Long-Term Care Insurance		119			133			98			95			445			129			59			48			1			237
Life Insurance		(98	)		(68	)		(40	)		(63	)		(269	)		(20	)		(69	)		(81	)		(77	)		(247	)
Fixed Annuities		20			28			13			30			91			20			24			28			6			78

Total U.S. Life Insurance segment		41			93			71			62			267			129			14			(5	)		(70	)		68

Runoff segment		16			11			15			12			54			13			19			24			(13	)		43
Corporate and Other		(18	)		1			(27	)		(32	)		(76	)		(49	)		(49	)		(39	)		(45	)		(182	)

ADJUSTED OPERATING INCOME (LOSS)	$	164		$	239		$	194		$	168		$	765		$	188		$	125		$	(23	)	$	20		$	310


Earnings (Loss) Per Share Data:
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share
Basic	$	0.32		$	0.62		$	0.47		$	0.37		$	1.78		$	0.53		$	0.83		$	(0.87	)	$	(0.13	)	$	0.35
Diluted	$	0.32		$	0.61		$	0.47		$	0.37		$	1.76		$	0.52		$	0.82		$	(0.86	)	$	(0.13	)	$	0.35
Adjusted operating income (loss) per share
Basic	$	0.32		$	0.47		$	0.38		$	0.33		$	1.51		$	0.37		$	0.25		$	(0.05	)	$	0.04		$	0.61
Diluted	$	0.32		$	0.46		$	0.38		$	0.33		$	1.48		$	0.37		$	0.25		$	(0.05	)	$	0.04		$	0.61
Weighted-average common shares outstanding
Basic		507.4			507.4			507.0			506.0			506.9			505.6			505.6			505.4			504.3			505.2
Diluted⁽²⁾		515.6			514.2			515.0			513.8			514.7			512.5			511.5			512.5			504.3			511.6

⁽¹⁾	Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves (see page 35 for reconciliation).

⁽²⁾

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Consolidated Balance Sheets

(amounts in millions)


	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020
ASSETS
Investments:
Fixed maturity securities available-for-sale, at fair value⁽¹⁾	$	60,480		$	61,274		$	61,649		$	60,231		$	63,495
Equity securities, at fair value		198			156			147			238			386
Commercial mortgage loans⁽²⁾		6,856			6,916			6,912			6,787			6,774
Less: Allowance for credit losses		(26	)		(30	)		(33	)		(32	)		(31	)

Commercial mortgage loans, net		6,830			6,886			6,879			6,755			6,743
Policy loans		2,050			2,067			2,083			1,976			1,978
Limited partnerships		1,900			1,617			1,354			1,160			1,049
Other invested assets		820			718			906			599			1,050

Total investments		72,278			72,718			73,018			70,959			74,701
Cash, cash equivalents and restricted cash		1,571			1,937			2,214			1,964			2,561
Accrued investment income		647			626			573			704			655
Deferred acquisition costs		1,146			1,193			1,212			1,247			1,487
Intangible assets		143			147			151			155			157
Reinsurance recoverable		16,868			16,722			16,716			16,788			16,864
Less: Allowance for credit losses		(55	)		(51	)		(50	)		(44	)		(45	)

Reinsurance recoverable, net		16,813			16,671			16,666			16,744			16,819
Other assets		388			396			403			439			404
Deferred tax asset		119			209			211			314			65
Separate account assets		6,066			5,978			6,202			6,032			6,081
Assets related to discontinued operations⁽³⁾		—			—			—			—			2,817

Total assets	$	99,171		$	99,875		$	100,650		$	98,558		$	105,747


⁽¹⁾ Amortized cost of $52,611 million, $53,181 million, $53,111 million, $53,470 million and $53,417 million as of December 31, 2021, September 30, 2021, June 30, 2021, March 31, 2021 and December 31, 2020, respectively, and allowance for credit losses of $—, $—, $—, $3 million and $4 million as of December 31, 2021, September 30, 2021, June 30, 2021, March 31, 2021 and December 31, 2020, respectively. ⁽²⁾ Net of unamortized balance of loan origination fees and costs of $4 million as of December 31, 2021, September 30, 2021, June 30, 2021, March 31, 2021 and December 31, 2020. ⁽³⁾ Prior to the sale on March 3, 2021, the assets of Genworth Australia were segregated in the consolidated balance sheets. The major asset categories of Genworth Australia reported as discontinued operations were as follows:
	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020
ASSETS
Investments:
Fixed maturity securities available-for-sale, at fair value	$	—		$	—		$	—		$	—		$	2,295
Equity securities, at fair value		—			—			—			—			90
Other invested assets		—			—			—			—			154

Total investments		—			—			—			—			2,539
Cash, cash equivalents and restricted cash		—			—			—			—			95
Accrued investment income		—			—			—			—			16
Deferred acquisition costs		—			—			—			—			42
Intangible assets		—			—			—			—			43
Other assets		—			—			—			—			40
Deferred tax asset		—			—			—			—			42

Assets related to discontinued operations	$	—		$	—		$	—		$	—		$	2,817

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Consolidated Balance Sheets

(amounts in millions)


	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020
LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	41,528		$	41,794		$	42,165		$	40,634		$	42,695
Policyholder account balances		19,354			19,607			19,944			19,999			21,503
Liability for policy and contract claims		11,841			11,743			11,546			11,415			11,486
Unearned premiums		672			685			695			728			775
Other liabilities		1,511			1,568			1,664			1,710			1,614
Long-term borrowings		1,899			2,412			2,924			2,922			3,403
Separate account liabilities		6,066			5,978			6,202			6,032			6,081
Liabilities related to discontinued operations⁽¹⁾		34			36			346			360			2,370

Total liabilities		82,905			83,823			85,486			83,800			89,927

Equity:
Common stock		1			1			1			1			1
Additional paid-in capital		11,858			11,850			12,018			12,011			12,008
Accumulated other comprehensive income (loss)		3,861			3,800			3,834			3,675			4,425
Retained earnings		2,490			2,325			2,011			1,771			1,584
Treasury stock, at cost		(2,700	)		(2,700	)		(2,700	)		(2,700	)		(2,700	)

Total Genworth Financial, Inc.’s stockholders’ equity		15,510			15,276			15,164			14,758			15,318
Noncontrolling interests		756			776			—			—			502

Total equity		16,266			16,052			15,164			14,758			15,820

Total liabilities and equity	$	99,171		$	99,875		$	100,650		$	98,558		$	105,747

⁽¹⁾

Liabilities related to discontinued operations relates to a liability recorded in connection with a settlement agreement reached with AXA involving the sale of the company’s former lifestyle protection insurance business. Liabilities related to discontinued operations also includes an unrelated liability associated with underwriting losses on a product sold by a distributor in the company’s former lifestyle protection insurance business. In addition, prior to the sale on March 3, 2021, the liabilities of Genworth Australia were segregated in the consolidated balance sheets. The major liability categories of Genworth Australia reported as discontinued operations were as follows:


	December 31, 2021		September 30, 2021		June 30, 2021		March 31, 2021		December 31, 2020
LIABILITIES
Liability for policy and contract claims	$	—	$	—	$	—	$	—	$	331
Unearned premiums		—		—		—		—		1,193
Other liabilities		—		—		—		—		104
Long-term borrowings		—		—		—		—		145

Liabilities related to discontinued operations	$	—	$	—	$	—	$	—	$	1,773

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Consolidated Balance Sheet by Segment

(amounts in millions)


	December 31, 2021
	Enact		U.S. Life Insurance			Runoff		Corporate and Other⁽¹⁾			Total
ASSETS
Cash and investments	$	5,723	$	64,084		$	2,574	$	2,115		$	74,496
Deferred acquisition costs and intangible assets		37		1,129			113		10			1,289
Reinsurance recoverable, net		—		16,168			645		—			16,813
Deferred tax and other assets		90		(171	)		62		526			507
Separate account assets		—		—			6,066		—			6,066

Total assets	$	5,850	$	81,210		$	9,460	$	2,651		$	99,171

LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	—	$	41,526		$	2	$	—		$	41,528
Policyholder account balances		—		16,343			3,011		—			19,354
Liability for policy and contract claims		641		11,183			8		9			11,841
Unearned premiums		246		423			3		—			672
Other liabilities		123		765			40		583			1,511
Borrowings		740		—			—		1,159			1,899
Separate account liabilities		—		—			6,066		—			6,066
Liabilities related to discontinued operations		—		—			—		34			34

Total liabilities		1,750		70,240			9,130		1,785			82,905

Equity:
Allocated equity, excluding accumulated other comprehensive income (loss)		3,276		7,159			324		890			11,649
Allocated accumulated other comprehensive income (loss)		68		3,811			6		(24	)		3,861

Total Genworth Financial, Inc.’s stockholders’ equity		3,344		10,970			330		866			15,510
Noncontrolling interests		756		—			—		—			756
Total equity		4,100		10,970			330		866			16,266

Total liabilities and equity	$	5,850	$	81,210		$	9,460	$	2,651		$	99,171

⁽¹⁾	Includes inter-segment eliminations and other businesses that are managed outside the operating segments.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Consolidated Balance Sheet by Segment

(amounts in millions)


	September 30, 2021
	Enact		U.S. Life Insurance		Runoff		Corporate and Other⁽¹⁾			Total
ASSETS
Cash and investments	$	5,871	$	64,627	$	2,616	$	2,167		$	75,281
Deferred acquisition costs and intangible assets		39		1,175		115		11			1,340
Reinsurance recoverable, net		—		16,017		654		—			16,671
Deferred tax and other assets		77		426		55		47			605
Separate account assets		—		—		5,978		—			5,978

Total assets	$	5,987	$	82,245	$	9,418	$	2,225		$	99,875

LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	—	$	41,792	$	2	$	—		$	41,794
Policyholder account balances		—		16,603		3,004		—			19,607
Liability for policy and contract claims		648		11,065		20		10			11,743
Unearned premiums		255		427		3		—			685
Other liabilities		122		741		40		665			1,568
Borrowings		740		—		—		1,672			2,412
Separate account liabilities		—		—		5,978		—			5,978
Liabilities related to discontinued operations		—		—		—		36			36

Total liabilities		1,765		70,628		9,047		2,383			83,823

Equity:
Allocated equity, excluding accumulated other comprehensive income (loss)		3,337		7,907		365		(133	)		11,476
Allocated accumulated other comprehensive income (loss)		109		3,710		6		(25	)		3,800

Total Genworth Financial, Inc.’s stockholders’ equity		3,446		11,617		371		(158	)		15,276
Noncontrolling interests		776		—		—		—			776

Total equity		4,222		11,617		371		(158	)		16,052

Total liabilities and equity	$	5,987	$	82,245	$	9,418	$	2,225		$	99,875

⁽¹⁾	Includes inter-segment eliminations and other businesses that are managed outside the operating segments.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Deferred Acquisition Costs Rollforward

(amounts in millions)


	Enact			U.S. Life Insurance			Runoff			Total
Unamortized balance as of September 30, 2021	$	28		$	2,404		$	136		$	2,568
Costs deferred		1			1			—			2
Amortization, net of interest accretion⁽¹⁾		(2	)		(126	)		(4	)		(132	)

Unamortized balance as of December 31, 2021		27			2,279			132			2,438
Effect of accumulated net unrealized investment (gains) losses		—			(1,271	)		(21	)		(1,292	)

Balance as of December 31, 2021	$	27		$	1,008		$	111		$	1,146

⁽¹⁾	Effective December 1, 2021, the company entered into a new reinsurance agreement under which it wrote off maintenance reserves of $33 million associated with certain term life insurance policies in connection with a life block transaction.

Enact Segment

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Adjusted Operating Income (Loss) and Sales—Enact Segment

(amounts in millions)


	2021														2020
	4Q		3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q		Total
REVENUES:
Premiums	$	237	$	243		$	243		$	252		$	975		$	251		$	251		$	243		$	226	$	971
Net investment income		35		36			35			35			141			35			34			31			33		133
Net investment gains (losses)		—		1			(2	)		(1	)		(2	)		(1	)		(2	)		(1	)		—		(4	)
Policy fees and other income		1		1			—			2			4			2			1			1			2		6

Total revenues		273		281			276			288			1,118			287			284			274			261		1,106

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		6		34			30			55			125			89			45			228			19		381
Acquisition and operating expenses, net of deferrals		55		55			63			57			230			55			54			47			50		206
Amortization of deferred acquisition costs and intangibles		4		3			4			4			15			10			3			4			4		21
Interest expense		13		13			12			13			51			12			6			—			—		18

Total benefits and expenses		78		105			109			129			421			166			108			279			73		626

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		195		176			167			159			697			121			176			(5	)		188		480
Provision (benefit) for income taxes		41		38			35			34			148			26			37			(1	)		40		102

INCOME (LOSS) FROM CONTINUING OPERATIONS		154		138			132			125			549			95			139			(4	)		148		378
Less: net income from continuing operations attributable to noncontrolling interests		29		4			—			—			33			—			—			—			—		—

INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		125		134			132			125			516			95			139			(4	)		148		378
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:
Net investment (gains) losses		—		(1	)		2			1			2			1			2			1			—		4
Expenses related to restructuring		—		1			2			—			3			—			—			—			—		—
Taxes on adjustments		—		—			(1	)		—			(1	)		(1	)		—			—			—		(1	)

ADJUSTED OPERATING INCOME (LOSS)	$	125	$	134		$	135		$	126		$	520		$	95		$	141		$	(3)		$	148	$	381


SALES:
Primary New Insurance Written (NIW)	$	21,400	$	24,000		$	26,700		$	24,900		$	97,000		$	27,000		$	26,600		$	28,400		$	17,900	$	99,900

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Primary New Insurance Written Metrics—Enact Segment

(amounts in millions)


	2021																				2020
	4Q					3Q					2Q					1Q					4Q					3Q					2Q					1Q
	Primary NIW		% of Primary NIW			Primary NIW		% of Primary NIW			Primary NIW		% of Primary NIW			Primary NIW		% of Primary NIW			Primary NIW		% of Primary NIW			Primary NIW		% of Primary NIW			Primary NIW		% of Primary NIW			Primary NIW		% of Primary NIW
Payment Type
Monthly	$	19,400		91	%	$	21,500		90	%	$	24,900		94	%	$	23,400		94	%	$	24,700		92	%	$	23,400		88	%	$	25,800		91	%	$	16,200		91	%
Single		2,000		9			2,400		10			1,700		6			1,400		6			2,200		8			3,100		12			2,500		9			1,500		8
Other⁽¹⁾		—		—			100		—			100		—			100		—			100		—			100		—			100		—			200		1

Total Primary	$	21,400		100	%	$	24,000		100	%	$	26,700		100	%	$	24,900		100	%	$	27,000		100	%	$	26,600		100	%	$	28,400		100	%	$	17,900		100	%

Origination
Purchase	$	19,300		90	%	$	21,000		88	%	$	21,100		79	%	$	15,500		62	%	$	17,800		66	%	$	20,000		75	%	$	17,400		61	%	$	12,000		67	%
Refinance		2,100		10			3,000		12			5,600		21			9,400		38			9,200		34			6,600		25			11,000		39			5,900		33

Total Primary	$	21,400		100	%	$	24,000		100	%	$	26,700		100	%	$	24,900		100	%	$	27,000		100	%	$	26,600		100	%	$	28,400		100	%	$	17,900		100	%

FICO Scores
Over 760	$	9,400		44	%	$	10,700		45	%	$	11,800		44	%	$	10,500		42	%	$	10,500		39	%	$	11,300		43	%	$	12,300		43	%	$	7,500		42	%
740 - 759		3,400		16			3,800		16			4,000		15			3,800		15			4,300		16			4,100		15			4,800		17			3,200		18
720 - 739		2,800		13			3,200		13			3,500		13			3,400		14			4,000		15			3,500		13			4,200		15			2,600		14
700 - 719		2,300		11			2,700		11			3,100		12			3,000		12			3,600		13			3,100		12			3,300		11			2,200		12
680 - 699		1,600		7			1,900		8			2,500		9			2,500		10			2,700		10			2,400		9			2,200		8			1,500		8
660 - 679⁽²⁾		1,100		5			1,000		4			1,100		4			1,000		4			1,100		4			1,300		5			900		3			500		3
640 - 659		600		3			500		2			500		2			500		2			600		2			600		2			500		2			300		2
620 - 639		200		1			200		1			200		1			200		1			200		1			300		1			200		1			100		1
<620		—		—			—		—			—		—			—		—			—		—			—		—			—		—			—		—

Total Primary	$	21,400		100	%	$	24,000		100	%	$	26,700		100	%	$	24,900		100	%	$	27,000		100	%	$	26,600		100	%	$	28,400		100	%	$	17,900		100	%

Loan-To-Value Ratio
95.01% and above	$	3,700		17	%	$	3,400		14	%	$	2,800		11	%	$	2,200		9	%	$	2,900		11	%	$	3,700		14	%	$	3,200		11	%	$	1,800		10	%
90.01% to 95.00%		7,500		35			8,800		37			10,700		40			9,500		38			11,100		41			11,700		44			12,300		43			7,700		43
85.01% to 90.00%		6,200		29			7,500		31			8,600		32			8,400		34			8,100		30			7,100		27			8,100		29			5,500		31
85.00% and below		4,000		19			4,300		18			4,600		17			4,800		19			4,900		18			4,100		15			4,800		17			2,900		16

Total Primary	$	21,400		100	%	$	24,000		100	%	$	26,700		100	%	$	24,900		100	%	$	27,000		100	%	$	26,600		100	%	$	28,400		100	%	$	17,900		100	%

Debt-To-Income Ratio
45.01% and above	$	5,000		23	%	$	4,200		17	%	$	3,300		12	%	$	2,600		10	%	$	3,100		11	%	$	3,100		12	%	$	4,000		14	%	$	3,500		20	%
38.01% to 45.00%		7,000		33			7,900		33			9,200		35			8,700		35			10,200		38			9,900		37			9,600		34			6,000		33
38.00% and below		9,400		44			11,900		50			14,200		53			13,600		55			13,700		51			13,600		51			14,800		52			8,400		47

Total Primary	$	21,400		100	%	$	24,000		100	%	$	26,700		100	%	$	24,900		100	%	$	27,000		100	%	$	26,600		100	%	$	28,400		100	%	$	17,900		100	%

⁽¹⁾	Includes loans with annual and split payment types.

⁽²⁾	Loans with unknown FICO scores are included in the 660-679 category.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Other Metrics—Enact Segment

(dollar amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total

Primary Insurance In-Force⁽¹⁾	$	226,514		$	222,464		$	217,477		$	210,187					$	207,947		$	203,062		$	197,047		$	187,981

Risk In-Force
Primary⁽²⁾	$	56,881		$	55,866		$	54,643		$	52,866					$	52,475		$	51,393		$	49,868		$	47,740
Pool		105			117			123			134						146			156			169			179

Total Risk In-Force	$	56,986		$	55,983		$	54,766		$	53,000					$	52,621		$	51,549		$	50,037		$	47,919


Expense Ratio⁽³⁾		25	%		24	%		27	%		24	%		25	%		26	%		23	%		21	%		24	%		23	%

Primary Persistency		69	%		65	%		63	%		56	%		62	%		57	%		59	%		59	%		74	%		59	%

Combined Risk To Capital Ratio⁽⁴⁾		12.2:1			11.8:1			11.8:1			11.7:1						12.1:1			12.1:1			12.0:1			12.2:1

GMICO Risk To Capital Ratio^(4),(5)		12.3:1			11.9:1			12.0:1			11.9:1						12.3:1			12.3:1			12.2:1			12.4:1

PMIERs Available Assets⁽⁶⁾	$	5,077		$	5,126		$	4,926		$	4,769					$	4,588		$	4,451		$	4,218		$	3,974

PMIERs Required Assets⁽⁶⁾	$	3,074		$	2,839		$	2,985		$	3,005					$	3,359		$	3,377		$	2,943		$	2,803

Available Assets Above PMIERs Requirements⁽⁶⁾	$	2,003		$	2,287		$	1,941		$	1,764					$	1,229		$	1,074		$	1,275		$	1,171

PMIERs Sufficiency Ratio⁽⁶⁾		165	%		181	%		165	%		159	%					137	%		132	%		143	%		142	%

Average Primary Loan Size (in thousands)	$	242		$	237		$	233		$	228					$	225		$	222		$	220		$	217

The expense ratio included above was calculated using whole dollars and may be different than the ratio calculated using the rounded numbers included herein.

⁽¹⁾	Primary insurance in-force represents aggregate unpaid balance for loans the company’s U.S. mortgage insurance subsidiaries insure. Original loan balances are primarily used to determine premiums.

⁽²⁾	Primary risk in-force represents risk on current loan balances as provided by servicers, lenders and investors.

⁽³⁾

The ratio of an insurer’s general expenses to net earned premiums. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles. Expenses associated with strategic transaction preparations and restructuring costs increased the expense ratio by two percentage points for the three months ended June 30, 2021.

⁽⁴⁾

Certain states limit a private mortgage insurer’s risk in-force to 25 times the total of the insurer’s policyholders’ surplus plus the statutory contingency reserve, commonly known as the “risk to capital” requirement. The current period risk to capital ratio is an estimate due to the timing of the filing of statutory statements and is prepared consistent with the presentation of the statutory financial statements in the combined annual statement of the company’s U.S. mortgage insurance subsidiaries.

⁽⁵⁾	Genworth Mortgage Insurance Corporation (GMICO), the company’s principal U.S. mortgage insurance subsidiary.

⁽⁶⁾

The Private Mortgage Insurer Eligibility Requirements (PMIERs) sufficiency ratio is calculated as available assets divided by required assets as defined within PMIERs. The current period PMIERs sufficiency ratio is an estimate due to the timing of the PMIERs filing and does not take into consideration the impact of restrictions recently imposed by the government-sponsored enterprises (GSEs). The GSEs have imposed certain capital restrictions on the company’s U.S. mortgage insurance subsidiaries which remain in effect until certain conditions are met. These restrictions required GMICO to maintain 115% of published PMIERs minimum required assets among other restrictions as of December 31, 2021. Effective January 1, 2022, these requirements increased to 120%.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Loss Metrics—Enact Segment

(amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
Average Paid Claim (in thousands)⁽¹⁾	$	27.2		$	26.7		$	63.1		$	54.7					$	47.2		$	55.6		$	47.1		$	45.0
Average Reserve Per Primary Delinquency (in thousands)⁽²⁾	$	24.4		$	21.2		$	17.5		$	13.7					$	11.5		$	8.8		$	7.1		$	13.1

Reserves:
Primary direct case	$	606		$	613		$	589		$	564					$	517		$	436		$	379		$	202
All other⁽³⁾		35			35			35			39						38			38			60			28

Total Reserves	$	641		$	648		$	624		$	603					$	555		$	474		$	439		$	230


Beginning Reserves	$	648		$	624		$	603		$	555		$	555		$	474		$	439		$	230		$	233		$	233
Paid claims		(13	)		(10	)		(9	)		(7	)		(39	)		(8	)		(10	)		(19	)		(22	)		(59	)
Increase in reserves		6			34			30			55			125			89			45			228			19			381

Ending Reserves	$	641		$	648		$	624		$	603		$	641		$	555		$	474		$	439		$	230		$	555

Loss Ratio⁽⁴⁾		3	%		14	%		12	%		22	%		13	%		35	%		18	%		94	%		8	%		39	%

The loss ratio included above was calculated using whole dollars and may be different than the ratio calculated using the rounded numbers included herein.

⁽¹⁾	Average paid claim in the fourth and third quarters of 2021 includes payment in relation to agreements on non-performing loans.

⁽²⁾	Primary direct case reserves divided by primary delinquency count.

⁽³⁾	Other includes loss adjustment expenses, pool, incurred but not reported and reinsurance reserves.

⁽⁴⁾	The ratio of benefits and other changes in policy reserves to net earned premiums.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Delinquency Metrics—Enact Segment

(dollar amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
Primary Loans
Primary loans in-force		937,350			936,934			933,616			922,186						924,624			913,974			896,232			868,111
Primary delinquent loans		24,820			28,904			33,568			41,332						44,904			49,692			53,587			15,417
Primary delinquency rate		2.65	%		3.08	%		3.60	%		4.48	%					4.86	%		5.44	%		5.98	%		1.78	%

Beginning Number of Primary Delinquencies		28,904			33,568			41,332			44,904			44,904			49,692			53,587			15,417			16,392			16,392
New delinquencies		8,282			7,427			6,862			10,053			32,624			11,923			16,664			48,373			8,114			85,074
Delinquency cures		(11,929	)		(11,746	)		(14,473	)		(13,478	)		(51,626	)		(16,548	)		(20,404	)		(9,795	)		(8,649	)		(55,396	)
Paid claims		(430	)		(343	)		(143	)		(134	)		(1,050	)		(152	)		(152	)		(404	)		(440	)		(1,148	)
Rescissions and claim denials		(7	)		(2	)		(10	)		(13	)		(32	)		(11	)		(3	)		(4	)		—			(18	)

Ending Number of Primary Delinquencies		24,820			28,904			33,568			41,332			24,820			44,904			49,692			53,587			15,417			44,904


Composition of Cures
Reported delinquent and cured-intraquarter		1,274			1,143			1,149			1,549						1,433			1,939			3,992			2,236
Number of missed payments delinquent prior to cure:
3 payments or less		3,563			3,080			4,179			4,812						5,567			13,022			4,522			4,850
4 - 11 payments		2,691			3,492			6,055			6,849						9,347			5,239			1,122			1,389
12 payments or more		4,401			4,031			3,090			268						201			204			159			174

Total		11,929			11,746			14,473			13,478						16,548			20,404			9,795			8,649

Primary Delinquencies by Missed Payment Status
3 payments or less		6,586			6,192			6,030			8,296						10,484			13,904			43,158			7,650
4 - 11 payments		7,360			9,021			12,378			21,011						30,324			32,366			7,448			4,909
12 payments or more		10,874			13,691			15,160			12,025						4,096			3,422			2,981			2,858

Primary Delinquencies		24,820			28,904			33,568			41,332						44,904			49,692			53,587			15,417




	December 31, 2021
Primary Direct Case Reserves⁽¹⁾ and Percentage Reserved by Payment Status	Direct Case Reserves			Risk In-Force			Reserves as % of Risk In-Force
3 payments or less in default	$	35		$	340			10	%
4 - 11 payments in default		111			426			26	%
12 payments or more in default		460			643			72	%

Total	$	606		$	1,409			43	%


	December 31, 2020
Primary Direct Case Reserves⁽¹⁾ and Percentage Reserved by Payment Status	Direct Case Reserves			Risk In-Force			Reserves as % of Risk In-Force
3 payments or less in default	$	43		$	549			8	%
4 - 11 payments in default		331			1,853			18	%
12 payments or more in default		143			204			70	%

Total	$	517		$	2,606			20	%

⁽¹⁾	Primary direct case reserves exclude loss adjustment expenses, pool, incurred but not reported and reinsurance reserves.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Portfolio Quality Metrics—Enact Segment

(amounts in millions)


	December 31, 2021
Policy Year	Average Rate⁽¹⁾			% of Direct Case Reserves⁽²⁾			Primary Insurance In-Force		% of Total			Primary Risk In-Force		% of Total			Delinquency Rate
2004 and prior		6.20	%		2	%	$	541		—	%	$	154		—	%		13.24	%
2005 to 2008		5.58	%		22			7,655		3			1,958		3			10.23	%
2009 to 2013		4.32	%		2			1,404		1			370		1			5.54	%
2014		4.49	%		3			1,965		1			534		1			5.51	%
2015		4.17	%		5			4,488		2			1,197		2			4.24	%
2016		3.89	%		8			8,997		4			2,388		4			3.69	%
2017		4.26	%		10			8,962		4			2,324		4			4.78	%
2018		4.78	%		13			9,263		4			2,330		4			5.93	%
2019		4.20	%		19			21,730		10			5,454		10			3.89	%
2020		3.23	%		14			69,963		31			17,574		31			1.50	%
2021		3.08	%		2			91,546		40			22,598		40			0.37	%

Total		3.52	%		100	%	$	226,514		100	%	$	56,881		100	%		2.65	%


	December 31, 2021						September 30, 2021					December 31, 2020
	Primary Risk In-Force			Percent of Primary Risk In-Force			Primary Risk In-Force		Percent of Primary Risk In-Force			Primary Risk In-Force		Percent of Primary Risk In-Force
Loan-to-value ratio
95.01% and above	$	9,907			17	%	$	9,490		17	%	$	9,279		18	%
90.01% to 95.00%		27,608			49			27,509		49			26,774		51
85.01% to 90.00%		15,644			27			15,322		28			13,562		26
85.00% and below		3,722			7			3,545		6			2,860		5

Total	$	56,881			100	%	$	55,866		100	%	$	52,475		100	%


	December 31, 2021						September 30, 2021					December 31, 2020
	Primary Risk In-Force			Percent of Primary Risk In-Force			Primary Risk In-Force		Percent of Primary Risk In-Force			Primary Risk In-Force		Percent of Primary Risk In-Force
Credit Quality
Over 760	$	22,489			40	%	$	21,767		39	%	$	19,691		37	%
740 - 759		9,009			16			8,824		16			8,497		16
720 - 739		8,055			14			7,966		14			7,673		15
700 - 719		6,907			12			6,923		12			6,579		12
680 - 699		5,334			9			5,383		10			5,100		10
660 - 679⁽³⁾		2,638			5			2,568		5			2,442		5
640 - 659		1,530			3			1,497		3			1,472		3
620 - 639		702			1			705		1			737		1
<620		217			—			233		—			284		1

Total	$	56,881			100	%	$	55,866		100	%	$	52,475		100	%

⁽¹⁾	Average annual mortgage interest rate weighted by insurance in-force.

⁽²⁾	Direct primary case reserves exclude loss adjustment expenses, pool, incurred but not reported and reinsurance reserves.

⁽³⁾	Loans with unknown FICO scores are included in the 660-679 category.

U.S. Life Insurance Segment

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Adjusted Operating Income (Loss)—U.S. Life Insurance Segment

(amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	338		$	699		$	703		$	714		$	2,454		$	717		$	711		$	712		$	718		$	2,858
Net investment income		777			773			763			716			3,029			765			726			692			695			2,878
Net investment gains (losses)		134			87			66			42			329			121			348			118			(70	)		517
Policy fees and other income		128			144			145			148			565			157			152			142			144			595

Total revenues		1,377			1,703			1,677			1,620			6,377			1,760			1,937			1,664			1,487			6,848

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		849			1,097			1,129			1,155			4,230			1,050			1,221			1,213			1,297			4,781
Interest credited		84			85			87			90			346			91			95			97			100			383
Acquisition and operating expenses, net of deferrals		243			211			219			192			865			164			158			147			151			620
Amortization of deferred acquisition costs and intangibles		99			96			77			68			340			161			87			83			87			418
Interest expense		—			—			—			—			—			—			—			—			5			5

Total benefits and expenses		1,275			1,489			1,512			1,505			5,781			1,466			1,561			1,540			1,640			6,207

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		102			214			165			115			596			294			376			124			(153	)		641
Provision (benefit) for income taxes		28			53			42			32			155			70			87			33			(27	)		163

INCOME (LOSS) FROM CONTINUING OPERATIONS		74			161			123			83			441			224			289			91			(126	)		478

ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses, net⁽¹⁾		(135	)		(87	)		(67	)		(41	)		(330	)		(123	)		(348	)		(121	)		67			(525	)
Losses on early extinguishment of debt		—			—			—			—			—			—			—			—			4			4
Initial loss from life block transaction		92			—			—			—			92			—			—			—			—			—
Expenses related to restructuring		—			1			2			14			17			1			—			—			—			1
Taxes on adjustments		10			18			13			6			47			27			73			25			(15	)		110

ADJUSTED OPERATING INCOME (LOSS)	$	41		$	93		$	71		$	62		$	267		$	129		$	14		$	(5	)	$	(70	)	$	68


⁽¹⁾ Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves as reconciled below:
Net investment (gains) losses, gross	$	(134	)	$	(87	)	$	(66	)	$	(42	)	$	(329	)	$	(121	)	$	(348	)	$	(118	)	$	70		$	(517	)
Adjustment for DAC and other intangible amortization and certain benefit reserves		(1	)		—			(1	)		1			(1	)		(2	)		—			(3	)		(3	)		(8	)

Net investment (gains) losses, net	$	(135	)	$	(87	)	$	(67	)	$	(41	)	$	(330	)	$	(123	)	$	(348	)	$	(121	)	$	67		$	(525	)

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Adjusted Operating Income—U.S. Life Insurance Segment—Long-Term Care Insurance

(amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	644		$	652		$	648		$	646		$	2,590		$	668		$	661		$	649		$	642		$	2,620
Net investment income		532			521			509			465			2,027			499			456			422			419			1,796
Net investment gains (losses)		83			80			67			27			257			118			347			129			(55	)		539
Policy fees and other income		(6	)		3			2			2			1			3			2			—			—			5

Total revenues		1,253			1,256			1,226			1,140			4,875			1,288			1,466			1,200			1,006			4,960

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		817			802			822			829			3,270			863			901			876			928			3,568
Interest credited		—			—			—			—			—			—			—			—			—			—
Acquisition and operating expenses, net of deferrals		163			165			176			141			645			114			108			103			101			426
Amortization of deferred acquisition costs and intangibles		30			31			27			24			112			21			25			21			24			91
Interest expense		—			—			—			—			—			—			—			—			—			—

Total benefits and expenses		1,010			998			1,025			994			4,027			998			1,034			1,000			1,053			4,085

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		243			258			201			146			848			290			432			200			(47	)		875
Provision (benefit) for income taxes		59			63			50			38			210			69			99			49			(4	)		213

INCOME (LOSS) FROM CONTINUING OPERATIONS		184			195			151			108			638			221			333			151			(43	)		662

ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses		(83	)		(80	)		(67	)		(27	)		(257	)		(118	)		(347	)		(129	)		55			(539	)
Expenses related to restructuring		—			1			1			10			12			1			—			—			—			1
Taxes on adjustments		18			17			13			4			52			25			73			26			(11	)		113

ADJUSTED OPERATING INCOME	$	119		$	133		$	98		$	95		$	445		$	129		$	59		$	48		$	1		$	237


RATIOS:
Loss Ratio⁽¹⁾		62	%		58	%		62	%		62	%		61	%		65	%		71	%		69	%		78	%		71	%
Gross Benefits Ratio⁽²⁾		127	%		123	%		127	%		128	%		126	%		129	%		136	%		135	%		145	%		136	%

⁽¹⁾	The loss ratio was calculated by dividing benefits and other changes in policy reserves less tabular interest on reserves less loss adjustment expenses by net earned premiums.

⁽²⁾	The gross benefits ratio was calculated by dividing benefits and other changes in policy reserves by net earned premiums.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Adjusted Operating Loss—U.S. Life Insurance Segment—Life Insurance

(amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums⁽¹⁾	$	(306	)	$	47		$	55		$	68		$	(136	)	$	49		$	50		$	63		$	76		$	238
Net investment income		124			128			126			125			503			131			131			127			130			519
Net investment gains (losses)		50			6			6			12			74			10			4			5			1			20
Policy fees and other income		131			139			142			143			555			151			148			140			141			580

Total revenues		(1	)		320			329			348			996			341			333			335			348			1,357

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves⁽¹⁾		(14	)		252			245			282			765			131			269			289			302			991
Interest credited		53			53			53			56			215			55			57			57			59			228
Acquisition and operating expenses, net of deferrals		66			36			34			40			176			38			39			34			39			150
Amortization of deferred acquisition costs and intangibles		62			59			43			41			205			133			52			53			44			282
Interest expense		—			—			—			—			—			—			—			—			5			5

Total benefits and expenses		167			400			375			419			1,361			357			417			433			449			1,656

LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(168	)		(80	)		(46	)		(71	)		(365	)		(16	)		(84	)		(98	)		(101	)		(299	)
Benefit for income taxes		(37	)		(17	)		(10	)		(15	)		(79	)		(3	)		(18	)		(21	)		(22	)		(64	)

LOSS FROM CONTINUING OPERATIONS		(131	)		(63	)		(36	)		(56	)		(286	)		(13	)		(66	)		(77	)		(79	)		(235	)

ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:
Net investment (gains) losses		(50	)		(6	)		(6	)		(12	)		(74	)		(10	)		(4	)		(5	)		(1	)		(20	)
Losses on early extinguishment of debt		—			—			—			—			—			—			—			—			4			4
Initial loss from life block transaction		92			—			—			—			92			—			—			—			—			—
Expenses related to restructuring		—			—			1			3			4			—			—			—			—			—
Taxes on adjustments		(9	)		1			1			2			(5	)		3			1			1			(1	)		4

ADJUSTED OPERATING LOSS	$	(98	)	$	(68	)	$	(40	)	$	(63	)	$	(269	)	$	(20	)	$	(69	)	$	(81	)	$	(77	)	$	(247	)

⁽¹⁾

In the fourth quarter of 2021, as part of a life block transaction, the company entered into a new reinsurance agreement to cede certain of its term life insurance policies. This new reinsurance agreement primarily reduced premiums by $360 million and reduced benefits and other changes in policy reserves by $268 million for the amounts initially ceded.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Adjusted Operating Income—U.S. Life Insurance Segment—Fixed Annuities

(amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment income		121			124			128			126			499			135			139			143			146			563
Net investment gains (losses)		1			1			(7	)		3			(2	)		(7	)		(3	)		(16	)		(16	)		(42	)
Policy fees and other income		3			2			1			3			9			3			2			2			3			10

Total revenues		125			127			122			132			506			131			138			129			133			531

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		46			43			62			44			195			56			51			48			67			222
Interest credited		31			32			34			34			131			36			38			40			41			155
Acquisition and operating expenses, net of deferrals		14			10			9			11			44			12			11			10			11			44
Amortization of deferred acquisition costs and intangibles		7			6			7			3			23			7			10			9			19			45
Interest expense		—			—			—			—			—			—			—			—			—			—

Total benefits and expenses		98			91			112			92			393			111			110			107			138			466

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		27			36			10			40			113			20			28			22			(5	)		65
Provision (benefit) for income taxes		6			7			2			9			24			4			6			5			(1	)		14

INCOME (LOSS) FROM CONTINUING OPERATIONS		21			29			8			31			89			16			22			17			(4	)		51

ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses, net⁽¹⁾		(2	)		(1	)		6			(2	)		1			5			3			13			13			34
Expenses related to restructuring		—			—			—			1			1			—			—			—			—			—
Taxes on adjustments		1			—			(1	)		—			—			(1	)		(1	)		(2	)		(3	)		(7	)

ADJUSTED OPERATING INCOME	$	20		$	28		$	13		$	30		$	91		$	20		$	24		$	28		$	6		$	78


⁽¹⁾ Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves as reconciled below:
Net investment (gains) losses, gross	$	(1	)	$	(1	)	$	7		$	(3	)	$	2		$	7		$	3		$	16		$	16		$	42
Adjustment for DAC and other intangible amortization and certain benefit reserves		(1	)		—			(1	)		1			(1	)		(2	)		—			(3	)		(3	)		(8	)

Net investment (gains) losses, net	$	(2	)	$	(1	)	$	6		$	(2	)	$	1		$	5		$	3		$	13		$	13		$	34

Runoff Segment

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Adjusted Operating Income (Loss)—Runoff Segment

(amounts in millions)


	2021														2020
	4Q		3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Net investment income	$	53	$	49		$	43		$	49		$	194		$	52		$	55		$	54		$	49		$	210
Net investment gains (losses)		—		(1	)		10			(6	)		3			30			15			4			(75	)		(26	)
Policy fees and other income		33		33			35			33			134			32			33			32			33			130

Total revenues		86		81			88			76			331			114			103			90			7			314

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		5		12			2			8			27			17			7			4			20			48
Interest credited		43		38			40			41			162			41			42			42			41			166
Acquisition and operating expenses, net of deferrals		14		12			14			13			53			12			12			11			13			48
Amortization of deferred acquisition costs and intangibles		4		7			4			5			20			3			4			(1	)		17			23

Total benefits and expenses		66		69			60			67			262			73			65			56			91			285

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		20		12			28			9			69			41			38			34			(84	)		29
Provision (benefit) for income taxes		4		2			6			1			13			8			8			6			(18	)		4

INCOME (LOSS) FROM CONTINUING OPERATIONS		16		10			22			8			56			33			30			28			(66	)		25

ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses, net⁽¹⁾		—		1			(9	)		5			(3	)		(25	)		(14	)		(5	)		67			23
Taxes on adjustments		—		—			2			(1	)		1			5			3			1			(14	)		(5	)

ADJUSTED OPERATING INCOME (LOSS)	$	16	$	11		$	15		$	12		$	54		$	13		$	19		$	24		$	(13	)	$	43


⁽¹⁾ Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves as reconciled below:
Net investment (gains) losses, gross	$	—	$	1		$	(10	)	$	6		$	(3	)	$	(30	)	$	(15	)	$	(4	)	$	75		$	26
Adjustment for DAC and other intangible amortization and certain benefit reserves		—		—			1			(1	)		—			5			1			(1	)		(8	)		(3	)

Net investment (gains) losses, net	$	—	$	1		$	(9	)	$	5		$	(3	)	$	(25	)	$	(14	)	$	(5	)	$	67		$	23

Corporate and Other

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Adjusted Operating Income (Loss)—Corporate and Other^(1),(2)

(amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	1		$	2		$	1		$	2		$	6		$	2		$	1		$	2		$	2		$	7
Net investment income		1			1			3			1			6			(6	)		5			2			5			6
Net investment gains (losses)		(2	)		1			(4	)		(2	)		(7	)		(3	)		(10	)		(28	)		46			5
Policy fees and other income		—			1			—			—			1			—			(2	)		(1	)		1			(2	)

Total revenues		—			5			—			1			6			(7	)		(6	)		(25	)		54			16

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		1			—			—			—			1			1			—			2			1			4
Acquisition and operating expenses, net of deferrals		42			12			8			13			75			22			11			5			23			61
Amortization of deferred acquisition costs and intangibles		1			—			1			—			2			—			—			1			—			1
Interest expense		18			22			31			38			109			43			41			42			46			172

Total benefits and expenses		62			34			40			51			187			66			52			50			70			238

LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(62	)		(29	)		(40	)		(50	)		(181	)		(73	)		(58	)		(75	)		(16	)		(222	)
Benefit for income taxes		(11	)		(26	)		(8	)		(8	)		(53	)		(22	)		(2	)		(15	)		—			(39	)

LOSS FROM CONTINUING OPERATIONS		(51	)		(3	)		(32	)		(42	)		(128	)		(51	)		(56	)		(60	)		(16	)		(183	)

ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:
Net investment (gains) losses		2			(1	)		4			2			7			3			10			28			(46	)		(5	)
(Gains) losses on early extinguishment of debt		35			6			—			4			45			—			—			(3	)		8			5
Expenses related to restructuring		5			1			1			7			14			—			—			1			1			2
Taxes on adjustments		(9	)		(2	)		—			(3	)		(14	)		(1	)		(3	)		(5	)		8			(1	)

ADJUSTED OPERATING INCOME (LOSS)	$	(18)		$	1		$	(27)		$	(32)		$	(76)		$	(49)		$	(49)		$	(39)		$	(45)		$	(182)


⁽¹⁾ Includes inter-segment eliminations and the results of other businesses that are managed outside the operating segments, including certain international mortgage insurance businesses. ⁽²⁾ Income (loss) from discontinued operations is considered part of Corporate and Other activities but is excluded from the above table. Income (loss) from discontinued operations on pages 8 and 9 herein include operating results of Genworth Australia that was sold on March 3, 2021 and amounts related to the company’s former lifestyle protection insurance business that was sold on December 1, 2015. In the third quarter of 2021, the company refined its original after-tax loss on sale of Genworth Australia by recording a favorable provision to return tax adjustment of $3 million. Operating results of Genworth Australia reported as discontinued operations were as follows:
	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	—		$	—		$	—		$	51		$	51		$	72		$	71		$	62		$	69		$	274
Net investment income		—			—			—			4			4			8			7			7			11			33
Net investment gains (losses)		—			—			—			(5	)		(5	)		29			24			66			(53	)		66
Policy fees and other income		—			—			—			—			—			—			—			—			1			1

Total revenues		—			—			—			50			50			109			102			135			28			374

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		—			—			—			11			11			88			26			39			24			177
Acquisition and operating expenses, net of deferrals		—			—			—			7			7			14			14			13			12			53
Amortization of deferred acquisition costs and intangibles		—			—			—			6			6			8			7			6			8			29
Goodwill impairment		—			—			—			—			—			—			—			5			—			5
Interest expense		—			—			—			1			1			2			2			2			1			7

Total benefits and expenses		—			—			—			25			25			112			49			65			45			271

INCOME (LOSS) BEFORE INCOME TAXES AND GAIN (LOSS) ON SALE		—			—			—			25			25			(3	)		53			70			(17	)		103
Provision (benefit) for income taxes		—			—			—			8			8			2			20			23			(5	)		40

INCOME (LOSS) BEFORE GAIN (LOSS) ON SALE		—			—			—			17			17			(5	)		33			47			(12	)		63
Gain (loss) on sale, net of taxes		—			3			—			(3	)		—			—			—			—			—			—

INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAXES		—			3			—			14			17			(5	)		33			47			(12	)		63

Less: net income (loss) from discontinued operations attributable to noncontrolling interests		—			—			—			8			8			(1	)		18			23			(6	)		34

INCOME (LOSS) FROM DISCONTINUED OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	$	—		$	3		$	—		$	6		$	9		$	(4)		$	15		$	24		$	(6)		$	29

Additional Financial Data

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Investments Summary

(amounts in millions)


		December 31, 2021					September 30, 2021					June 30, 2021					March 31, 2021					December 31, 2020
		Carrying Amount		% of Total			Carrying Amount		% of Total			Carrying Amount		% of Total			Carrying Amount		% of Total			Carrying Amount		% of Total
Composition of Investment Portfolio
Fixed maturity securities:
Investment grade:
Public fixed maturity securities		$	34,181		46	%	$	34,382		46	%	$	34,610		47	%	$	33,376		47	%	$	35,678		46	%
Private fixed maturity securities			13,872		19			13,742		18			13,722		18			13,402		18			13,734		18
Residential mortgage-backed securities⁽¹⁾			1,440		2			1,572		2			1,683		2			1,766		2			1,900		2
Commercial mortgage-backed securities			2,570		3			2,656		4			2,714		4			2,770		4			2,955		4
Other asset-backed securities			2,127		3			2,374		3			2,500		3			2,806		4			3,076		4
State and political subdivisions			3,450		5			3,418		5			3,371		4			3,135		4			3,165		4
Non-investment grade fixed maturity securities			2,840		4			3,130		4			3,049		4			2,976		4			2,987		4
Equity securities:
Common stocks and mutual funds			115		—			72		—			63		—			155		—			296		—
Preferred stocks			83		—			84		—			84		—			83		—			90		—
Commercial mortgage loans, net			6,830		9			6,886		9			6,879		9			6,755		9			6,743		9
Policy loans			2,050		3			2,067		3			2,083		3			1,976		3			1,978		3
Limited partnerships			1,900		3			1,617		2			1,354		2			1,160		2			1,049		1
Cash, cash equivalents, restricted cash and short-term investments			1,597		2			2,006		3			2,335		3			1,981		3			2,606		3
Securities lending			—		—			—		—			105		—			68		—			67		—
Other invested assets:	Derivatives:
	Interest rate swaps		364		—			298		—			280		—			84		—			468		1
	Foreign currency swaps		6		—			5		—			2		—			—		—			1		—
	Equity index options		42		—			33		—			47		—			53		—			63		—
	Other foreign currency contracts		2		—			2		—			24		—			27		—			42		—
	Other		380		1			311		1			327		1			350		—			364		1

Total invested assets and cash		$	73,849		100	%	$	74,655		100	%	$	75,232		100	%	$	72,923		100	%	$	77,262		100	%

Public Fixed Maturity Securities—Credit Quality:
NRSRO⁽²⁾ Designation
AAA		$	8,316		20	%	$	8,393		19	%	$	8,505		20	%	$	8,308		20	%	$	9,252		21	%
AA			3,872		9			3,907		9			3,872		9			3,500		8			3,699		8
A			11,039		26			11,134		26			11,158		26			10,986		26			11,784		26
BBB			17,789		42			17,980		42			18,208		41			17,581		42			18,327		41
BB			1,443		3			1,658		4			1,637		4			1,579		4			1,634		4
B			42		—			53		—			45		—			69		—			74		—
CCC and lower			—		—			—		—			6		—			6		—			6		—

Total public fixed maturity securities		$	42,501		100	%	$	43,125		100	%	$	43,431		100	%	$	42,029		100	%	$	44,776		100	%

Private Fixed Maturity Securities—Credit Quality:
NRSRO⁽²⁾ Designation
AAA		$	821		5	%	$	856		5	%	$	862		5	%	$	973		5	%	$	1,103		6	%
AA			1,718		9			1,831		10			1,850		10			1,882		10			2,020		11
A			5,224		29			5,240		29			5,183		28			5,188		29			5,482		29
BBB			8,861		49			8,803		48			8,962		49			8,837		49			8,841		47
BB			1,186		7			1,252		7			1,190		7			1,117		6			1,042		6
B			161		1			158		1			162		1			197		1			219		1
CCC and lower			8		—			9		—			9		—			8		—			12		—

Total private fixed maturity securities		$	17,979		100	%	$	18,149		100	%	$	18,218		100	%	$	18,202		100	%	$	18,719		100	%

⁽¹⁾	The company does not have any material exposure to residential mortgage-backed securities collateralized debt obligations (CDOs).

⁽²⁾	Nationally Recognized Statistical Rating Organizations.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Fixed Maturity Securities Summary

(amounts in millions)


	December 31, 2021					September 30, 2021					June 30, 2021					March 31, 2021					December 31, 2020
	Fair Value		% of Total			Fair Value		% of Total			Fair Value		% of Total			Fair Value		% of Total			Fair Value		% of Total
Fixed Maturity Securities—Security Sector:

U.S. government, agencies and government-sponsored enterprises	$	4,552		8	%	$	4,500		7	%	$	4,484		7	%	$	4,273		7	%	$	4,805		8	%
State and political subdivisions		3,450		6			3,418		6			3,371		6			3,135		5			3,165		5
Foreign government		835		1			835		1			802		1			820		1			854		1
U.S. corporate		34,924		58			35,132		57			35,289		57			34,107		57			35,857		56
Foreign corporate		10,535		17			10,740		18			10,744		18			10,485		17			10,811		17
Residential mortgage-backed securities		1,440		2			1,572		3			1,691		3			1,774		3			1,909		3
Commercial mortgage-backed securities		2,584		4			2,670		4			2,734		4			2,794		5			2,974		5
Other asset-backed securities		2,160		4			2,407		4			2,534		4			2,843		5			3,120		5

Total fixed maturity securities	$	60,480		100	%	$	61,274		100	%	$	61,649		100	%	$	60,231		100	%	$	63,495		100	%

Corporate Bond Holdings—Industry Sector:

Investment Grade:
Finance and insurance	$	11,204		25	%	$	11,231		25	%	$	11,155		24	%	$	10,807		25	%	$	11,303		25	%
Utilities		5,963		13			5,953		13			5,948		13			5,736		13			6,019		13
Energy		3,622		8			3,645		8			3,592		8			3,417		8			3,496		7
Consumer - non-cyclical		6,635		15			6,703		15			6,726		15			6,545		15			6,977		15
Consumer - cyclical		1,877		4			1,891		4			1,979		4			1,922		4			1,944		4
Capital goods		3,291		7			3,349		7			3,371		7			3,275		7			3,431		7
Industrial		2,278		5			2,251		5			2,344		5			2,299		5			2,390		5
Technology and communications		4,612		10			4,547		10			4,518		10			4,376		10			4,589		10
Transportation		1,832		4			1,836		4			1,924		4			1,877		4			2,053		4
Other		1,473		3			1,510		3			1,596		4			1,516		3			1,639		4

Subtotal		42,787		94			42,916		94			43,153		94			41,770		94			43,841		94

Non-Investment Grade:
Finance and insurance		219		—			226		—			234		1			243		1			275		1
Utilities		69		—			95		—			88		—			94		—			97		—
Energy		695		2			782		2			759		1			712		1			767		2
Consumer - non-cyclical		267		1			270		1			243		1			243		1			233		—
Consumer - cyclical		363		1			369		1			368		1			389		1			374		1
Capital goods		159		—			163		—			141		—			152		—			136		—
Industrial		263		1			366		1			368		1			356		1			340		1
Technology and communications		446		1			490		1			520		1			488		1			463		1
Transportation		28		—			26		—			26		—			18		—			17		—
Other		163		—			169		—			133		—			127		—			125		—

Subtotal		2,672		6			2,956		6			2,880		6			2,822		6			2,827		6

Total	$	45,459		100	%	$	45,872		100	%	$	46,033		100	%	$	44,592		100	%	$	46,668		100	%

Fixed Maturity Securities—Contractual Maturity Dates:

Due in one year or less	$	1,499		2	%	$	1,449		2	%	$	1,291		2	%	$	1,291		2	%	$	1,305		2	%
Due after one year through five years		8,807		15			9,039		15			9,030		15			8,926		15			9,185		14
Due after five years through ten years		15,053		25			14,956		24			15,158		25			14,904		24			14,759		23
Due after ten years		28,937		48			29,181		48			29,211		47			27,699		46			30,243		48

Subtotal		54,296		90			54,625		89			54,690		89			52,820		87			55,492		87
Mortgage and asset-backed securities		6,184		10			6,649		11			6,959		11			7,411		13			8,003		13

Total fixed maturity securities	$	60,480		100	%	$	61,274		100	%	$	61,649		100	%	$	60,231		100	%	$	63,495		100	%

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

General Account U.S. GAAP Net Investment Income Yields

(amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
U.S. GAAP Net Investment Income
Fixed maturity securities - taxable	$	590		$	614		$	608		$	599		$	2,411		$	618		$	625		$	594		$	611		$	2,448
Fixed maturity securities - non-taxable		2			2			1			2			7			1			2			1			2			6
Equity securities		2			2			2			3			9			5			3			2			2			12
Commercial mortgage loans		102			93			103			78			376			94			82			84			85			345
Policy loans		52			47			40			50			189			50			51			49			49			199
Limited partnerships		79			59			54			31			223			38			22			14			(2	)		72
Other invested assets		62			63			58			58			241			65			57			52			49			223
Cash, cash equivalents, restricted cash and short-term investments		—			1			—			—			1			—			1			4			10			15

Gross investment income before expenses and fees		889			881			866			821			3,457			871			843			800			806			3,320
Expenses and fees		(23	)		(22	)		(22	)		(20	)		(87	)		(25	)		(23	)		(21	)		(24	)		(93	)

Net investment income	$	866		$	859		$	844		$	801		$	3,370		$	846		$	820		$	779		$	782		$	3,227

Annualized Yields
Fixed maturity securities - taxable		4.5	%		4.6	%		4.6	%		4.5	%		4.5	%		4.6	%		4.7	%		4.5	%		4.7	%		4.7	%
Fixed maturity securities - non-taxable		6.7	%		6.3	%		3.1	%		6.3	%		5.6	%		3.1	%		6.2	%		2.6	%		5.2	%		4.3	%
Equity securities		4.5	%		5.3	%		4.1	%		3.8	%		4.0	%		4.2	%		3.3	%		5.3	%		4.8	%		4.2	%
Commercial mortgage loans		5.9	%		5.4	%		6.0	%		4.6	%		5.5	%		5.5	%		4.8	%		4.9	%		4.9	%		5.0	%
Policy loans		10.1	%		9.1	%		7.9	%		10.1	%		9.3	%		9.7	%		9.4	%		9.3	%		9.5	%		9.5	%
Limited partnerships⁽¹⁾		18.0	%		15.9	%		17.2	%		11.2	%		15.7	%		16.1	%		10.9	%		7.8	%		(1.2	)%		9.1	%
Other invested assets⁽²⁾		71.9	%		79.5	%		68.6	%		65.0	%		69.7	%		67.9	%		56.2	%		50.0	%		48.2	%		56.0	%
Cash, cash equivalents, restricted cash and short-term investments		—	%		0.2	%		—	%		—	%		—	%		—	%		0.1	%		0.6	%		1.4	%		0.5	%

Gross investment income before expenses and fees		5.4	%		5.3	%		5.2	%		5.0	%		5.2	%		5.2	%		5.1	%		4.9	%		4.9	%		5.0	%
Expenses and fees		(0.1	)%		(0.1	)%		(0.1	)%		(0.2	)%		(0.1	)%		(0.1	)%		(0.2	)%		(0.1	)%		(0.1	)%		(0.1	)%

Net investment income		5.3	%		5.2	%		5.1	%		4.8	%		5.1	%		5.1	%		4.9	%		4.8	%		4.8	%		4.9	%

Yields are based on net investment income as reported under U.S. GAAP and are consistent with how the company measures its investment performance for management purposes. Yields are annualized, for interim periods, and are calculated as net investment income as a percentage of average quarterly asset carrying values except for fixed maturity securities, derivatives and derivative counterparty collateral, which exclude unrealized fair value adjustments and securities lending activity, which is included in other invested assets and is calculated net of the corresponding securities lending liability. See page 38 herein for average invested assets and cash used in the yield calculation.

⁽¹⁾	Limited partnership investments are primarily equity-based and do not have fixed returns by period.

⁽²⁾	Investment income for other invested assets includes amortization of terminated cash flow hedges, which have no corresponding book value within the yield calculation.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Net Investment Gains (Losses), Net—Detail

(amounts in millions)


	2021															2020
	4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
Realized investment gains (losses):
Net realized gains (losses) on available-for-sale securities:
Fixed maturity securities:
U.S. corporate	$	28		$	8		$	2		$	4		$	42		$	7		$	2		$	2		$	2		$	13
U.S. government, agencies and government-sponsored enterprises		—			—			—			—			—			—			316			94			—			410
Foreign corporate		10			1			(2	)		1			10			5			1			(1	)		—			5
Foreign government		—			(1	)		1			—			—			—			—			1			—			1
Tax exempt		—			—			—			—			—			1			—			—			—			1
Mortgage-backed securities		3			3			—			(1	)		5			11			—			4			—			15
Asset-backed securities		—			—			—			—			—			(1	)		—			(2	)		—			(3	)

Total net realized gains (losses) on available-for-sale securities		41			11			1			4			57			23			319			98			2			442
Net realized gains (losses) on equity securities sold		—			—			(2	)		(5	)		(7	)		2			(3	)		—			—			(1	)
Net realized gains (losses) on limited partnerships		—			—			—			3			3			—			—			—			—			—

Total net realized investment gains (losses)		41			11			(1	)		2			53			25			316			98			2			441

Net change in allowance for credit losses on available-for-sale fixed maturity securities		—			—			(4	)		(2	)		(6	)		—			2			(7	)		—			(5	)
Write-down of available-for-sale fixed maturity securities		—			—			—			(1	)		(1	)		—			(4	)		—			—			(4	)
Net unrealized gains (losses) on equity securities still held		4			(1	)		6			(8	)		1			8			3			5			(12	)		4
Net unrealized gains (losses) on limited partnerships		90			75			65			34			264			84			31			37			(40	)		112
Commercial mortgage loans		(4	)		3			(1	)		(1	)		(3	)		—			(3	)		1			—			(2	)
Derivative instruments		5			(3	)		4			8			14			26			9			(36	)		(48	)		(49	)
Other		(4	)		3			1			1			1			4			(3	)		(5	)		(1	)		(5	)

Net investment gains (losses), gross		132			88			70			33			323			147			351			93			(99	)		492
Adjustment for DAC and other intangible amortization and certain benefit reserves		1			—			—			—			1			(3	)		(1	)		4			11			11

Net investment gains (losses), net	$	133		$	88		$	70		$	33		$	324		$	144		$	350		$	97		$	(88	)	$	503

Reconciliations of Non-GAAP Measures

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Reconciliation of Operating ROE

(amounts in millions)


Twelve Month Rolling Average ROE	Twelve months ended
U.S. GAAP Basis ROE	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020
Net income available to Genworth Financial, Inc.’s common stockholders for the twelve months ended⁽¹⁾	$	904		$	1,008		$	1,112		$	431		$	178
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income⁽²⁾	$	11,286		$	11,079		$	10,823		$	10,684		$	10,618
U.S. GAAP Basis ROE^(1)/(2)		8.0	%		9.1	%		10.3	%		4.0	%		1.7	%

Operating ROE
Adjusted operating income for the twelve months ended⁽¹⁾	$	765		$	789		$	675		$	458		$	310
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income⁽²⁾	$	11,286		$	11,079		$	10,823		$	10,684		$	10,618
Operating ROE^(1)/(2)		6.8	%		7.1	%		6.2	%		4.3	%		2.9	%

Quarterly Average ROE	Three months ended
U.S. GAAP Basis ROE	December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			December 31, 2020
Net income available to Genworth Financial, Inc.’s common stockholders for the period ended⁽³⁾	$	163		$	314		$	240		$	187		$	267
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income⁽⁴⁾	$	11,563		$	11,403		$	11,207		$	10,988		$	10,754
Annualized U.S. GAAP Quarterly Basis ROE^(3)/(4)		5.6	%		11.0	%		8.6	%		6.8	%		9.9	%

Operating ROE
Adjusted operating income for the period ended⁽³⁾	$	164		$	239		$	194		$	168		$	188
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income⁽⁴⁾	$	11,563		$	11,403		$	11,207		$	10,988		$	10,754
Annualized Operating Quarterly Basis ROE^(3)/(4)		5.7	%		8.4	%		6.9	%		6.1	%		7.0	%

Non-GAAP Definition for Operating ROE

The company references the non-GAAP financial measure entitled “operating return on equity” or “operating ROE.” The company defines operating ROE as adjusted operating income (loss) divided by average ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss) in average ending Genworth Financial, Inc.’s stockholders’ equity. Management believes that analysis of operating ROE enhances understanding of the efficiency with which the company deploys its capital. However, operating ROE is not a substitute for net income (loss) available to Genworth Financial, Inc.’s common stockholders divided by average ending Genworth Financial, Inc.’s stockholders’ equity determined in accordance with U.S. GAAP.

⁽¹⁾	The twelve months ended information is derived by adding the four quarters of net income (loss) available to Genworth Financial, Inc.’s common stockholders and adjusted operating income (loss) from page 9 herein.

⁽²⁾	Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income, is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income, for the most recent five quarters.

⁽³⁾	Net income available to Genworth Financial, Inc.’s common stockholders and adjusted operating income from page 9 herein.

⁽⁴⁾	Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income, is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Reconciliation of Reported Yield to Core Yield


		2021															2020
	(Assets - amounts in billions)		4Q			3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
	Reported - Total Invested Assets and Cash	$	73.8		$	74.7		$	75.2		$	72.9		$	73.8		$	77.3		$	76.9		$	75.7		$	71.3		$	77.3
	Subtract:
	Securities lending		—			—			0.1			0.1			—			0.1			0.1			0.1			0.1			0.1
	Unrealized gains (losses)		8.2			8.5			8.9			6.9			8.2			10.7			9.9			9.7			6.0			10.7

	Adjusted end of period invested assets and cash	$	65.6		$	66.2		$	66.2		$	65.9		$	65.6		$	66.5		$	66.9		$	65.9		$	65.2		$	66.5

(A)	Average Invested Assets and Cash Used in Reported and Core Yield Calculation	$	65.9		$	66.2		$	66.1		$	66.2		$	66.1		$	66.7		$	66.4		$	65.6		$	65.3		$	66.0

	(Income - amounts in millions)

(B)	Reported - Net Investment Income	$	866		$	859		$	844		$	801		$	3,370		$	846		$	820		$	779		$	782		$	3,227
	Subtract:
	Bond calls and commercial mortgage loan prepayments		38			43			39			15			135			40			23			8			16			87
	Other non-core items⁽¹⁾		2			(4	)		3			2			3			6			6			2			7			21

(C)	Core Net Investment Income	$	826		$	820		$	802		$	784		$	3,232		$	800		$	791		$	769		$	759		$	3,119


(B) / (A)	Reported Yield		5.26	%		5.19	%		5.11	%		4.84	%		5.10	%		5.07	%		4.94	%		4.75	%		4.79	%		4.89	%
(C) / (A)	Core Yield		5.01	%		4.95	%		4.85	%		4.73	%		4.89	%		4.80	%		4.76	%		4.69	%		4.65	%		4.73	%

Note: Yields have been annualized.

Non-GAAP Definition for Core Yield

The company references 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 items that do not reflect the underlying performance of the investment portfolio. 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 U.S. GAAP.

⁽¹⁾	Includes cost basis adjustments on structured securities and various other immaterial items.

Corporate Information

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2021

Financial Strength Ratings As Of January 31, 2022


Company	Standard & Poor’s Financial Services LLC (S&P)	Moody’s Investors Service, Inc. (Moody’s)	Fitch Ratings, Inc. (Fitch)	A.M. Best Company, Inc. (A.M. Best)
Genworth Mortgage Insurance Corporation	BBB (Good)	Baa2 (Adequate)	BBB+ (Good)	N/A
Genworth Life Insurance Company	N/A	N/A	N/A	C++ (Marginal)
Genworth Life and Annuity Insurance Company	N/A	N/A	N/A	B (Fair)
Genworth Life Insurance Company of New York	N/A	N/A	N/A	C++ (Marginal)

The ratings included herewith represent those solicited by the company and are not designed to be, and do not serve as, measures of protection or valuation offered to investors. These financial strength ratings should not be relied on with respect to making an investment in the company’s securities.

S&P states that an insurer rated “BBB” (Good) has good financial security characteristics. The “BBB” rating is the fourth-highest of nine financial strength rating ranges assigned by S&P, which range from “AAA” to “R.” A plus (+) or minus (-) shows relative standing within a rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “CCC” category. Accordingly, the “BBB” rating is the ninth-highest of S&P’s 21 ratings categories.

Moody’s states that insurance companies rated “Baa” (Adequate) offer adequate financial security. The “Baa” rating is the fourth-highest of nine financial strength rating ranges assigned by Moody’s, which range from “Aaa” to “C.” Numeric modifiers are used to refer to the ranking within the groups, with 1 being the highest and 3 being the lowest. These modifiers are not added to ratings in the “Aaa” category or to ratings below the “Caa” category. Accordingly, the “Baa2” rating is the ninth-highest of Moody’s 21 ratings categories.

Fitch states that “BBB” (Good) rated insurance companies are viewed as possessing good capacity to meet policyholder and contract obligations. The “BBB” rating category is the fourth-highest of nine financial strength rating categories, which range from “AAA” to “C.” The symbol (+) or (-) may be appended to a rating to indicate the relative position within a rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “B” category. Accordingly, the “BBB+” rating is the eighth-highest of Fitch’s 19 ratings categories.

A.M. Best states that its “B” (Fair) rating is assigned to companies that have a fair ability to meet their ongoing insurance obligations while “C++” (Marginal) is assigned to those companies that have a marginal ability to meet their ongoing insurance obligations. The “B” and “C++” ratings are the seventh- and ninth-highest of 15 ratings assigned by A.M. Best, which range from “A++” to “F.”

The company also solicits a rating from HR Ratings on a local scale for Genworth Seguros de Credito a la Vivienda S.A. de C.V., its Mexican mortgage insurance subsidiary, with a short-term rating of “HR1” and long-term rating of “HR AA.” For short-term ratings, HR Ratings states that “HR1” rated companies are viewed as exhibiting high capacity for timely payment of debt obligations in the short-term and maintain low credit risk. The “HR1” short-term rating category is the highest of six short-term rating categories, which range from “HR1” to “HR D.” For long-term ratings, HR Ratings states that “HR AA” rated companies are viewed as having high credit quality and offer high safety for timely payment of debt obligations and maintain low credit risk under adverse economic scenarios. The “HR AA” long-term rating is the second-highest of HR Ratings’ eight long-term rating categories, which range from “HR AAA” to “HR D.”

S&P, Moody’s, Fitch, A.M. Best and HR Ratings review their ratings periodically and the company cannot assure you that it will maintain the current ratings in the future. These and other agencies may also rate the company or its insurance subsidiaries on a solicited or an unsolicited basis. The company does not provide non-public information to agencies issuing unsolicited ratings and cannot ensure that any agencies that rate the company or its insurance subsidiaries on an unsolicited basis will continue to do so.