EX-99.2

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Exhibit 99.2

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024


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

*Quarterly Results by Business*
Adjusted Operating Income, New Insurance Written and Metrics—Enact Segment		15-20
Adjusted Operating Income (Loss) and Statutory Impact of In-Force Rate Actions—Long-Term Care Insurance Segment		22-23
Adjusted Operating Income (Loss)—Life and Annuities Segment		25-28
Adjusted Operating Loss—Corporate and Other		30

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

*Reconciliations of Non-GAAP Measures*
Reconciliation of Operating Return On Equity (ROE)		37
Reconciliation of Consolidated Expense Ratio		38
Reconciliation of Reported Yield to Core Yield		39

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

THIRD QUARTER 2024

Dear Investor,

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

Please see the accompanying press release and summary presentation posted to the company’s website at http://investor.genworth.com for additional information regarding its third quarter 2024 earnings results.

Investors are encouraged to listen to the company’s earnings call on the third quarter 2024 results at 9:00 a.m. (EDT) on November 7, 2024.

Regards,

Brian Johnson, Investor Relations

InvestorInfo@genworth.com

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

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). Management 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) attributable to noncontrolling interests, net investment gains (losses), changes in fair value of market risk benefits and associated hedges, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, restructuring costs and infrequent or unusual non-operating items. 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. The company excludes net investment gains (losses), changes in fair value of market risk benefits and associated hedges, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, restructuring costs and infrequent or unusual non-operating items from adjusted operating income (loss) because, in the company’s opinion, they are not indicative of overall operating performance.

While some of these items may be significant components of net income (loss) available to Genworth Financial, Inc.’s common stockholders determined 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), among other key performance indicators, 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. Changes in fair value of market risk benefits and associated hedges are adjusted to exclude changes in reserves, attributed fees and benefit payments.

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 to 39 of this financial supplement.

Statutory Accounting Data

The company presents certain supplemental statutory data for Genworth Life Insurance Company (GLIC) and its consolidating life insurance subsidiaries that has been prepared on the basis of statutory accounting principles (SAP). GLIC and its consolidating life insurance subsidiaries file financial statements with state insurance regulatory authorities and the National Association of Insurance Commissioners that are prepared using SAP, an accounting basis either prescribed or permitted by such authorities. Due to differences in methodology between SAP and U.S. GAAP, the values for assets, liabilities and equity, and the recognition of income and expenses, reflected in financial statements prepared in accordance with U.S. GAAP are materially different from those reflected in financial statements prepared under SAP. This supplemental statutory data should not be viewed as an alternative to, or used in lieu of, U.S. GAAP.

This supplemental statutory data includes the impact from in-force rate actions on pre-tax long-term care insurance statutory earnings. Statutory pre-tax earnings represent the net gain from operations, including the impact from in-force rate actions, before dividends to policyholders, refunds to members and federal income taxes and before realized capital gains or (losses). Management uses and provides this supplemental statutory data because it believes it provides a useful measure of, among other things, statutory pre-tax earnings and the adequacy of capital. Management uses this data to measure against its policy to manage the U.S. life insurance companies with internally generated capital.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Results of Operations and Selected Operating Performance Measures

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.

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. U.S. GAAP generally requires an annualized effective tax rate to be used for interim reporting periods, utilizing projections of full year results. However, in certain circumstances, it is appropriate to record the actual effective tax rate for the period if a reliable estimate cannot be made for the full year. Although the company used the annualized projected effective tax rate during the interim reporting period ending March 31, 2024 for all segments, the company concluded that using an actual effective tax rate reflecting actual year-to-date income (loss) provides a better estimate for its Long-Term Care Insurance and Life and Annuities segments for interim reporting. Accordingly, for the three months ended June 30, 2024 and September 30, 2024, the company utilized the actual effective tax rate for the interim period to record the provision for income taxes for its Long-Term Care Insurance and Life and Annuities segments and the annualized projected effective tax rate for its Enact segment and Corporate and Other. This method was also utilized for the three months ended March 31, 2023, June 30, 2023 and September 30, 2023.

This financial supplement contains selected operating performance measures including “new insurance written,” “insurance in-force” and “risk in-force,” which are commonly used in the insurance industry as measures of operating performance.

Management regularly monitors and reports new insurance written for the company’s Enact segment as a measure of volume of new business generated in a period. 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 mortgage 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. These metrics are presented on a direct basis and exclude reinsurance. 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 Enact segment, which is the ratio of benefits and other changes in policy reserves to net earned premiums. The company considers the loss ratio to be a measure of underwriting performance and helps to enhance the understanding of the operating performance of the Enact segment.

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

THIRD QUARTER 2024

Financial Highlights

(amounts in millions, except per share data)


Balance Sheet Data	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Total Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss)	$	10,182		$	10,146		$	10,100		$	10,035		$	10,276
Total accumulated other comprehensive income (loss)⁽¹⁾		(1,871	)		(1,687	)		(2,094	)		(2,555	)		(2,220	)

Total Genworth Financial, Inc.’s stockholders’ equity	$	8,311		$	8,459		$	8,006		$	7,480		$	8,056

Book value per share	$	19.40		$	19.49		$	18.21		$	16.74		$	17.80
Book value per share, excluding accumulated other comprehensive income (loss)	$	23.77		$	23.38		$	22.98		$	22.46		$	22.70
Common shares outstanding as of the balance sheet date		428.4			434.0			439.6			446.8			452.7

	Twelve months ended
Twelve Month Rolling Average ROE	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
U.S. GAAP Basis ROE		0.9	%		0.3	%		0.9	%		0.7	%		6.6	%
Operating ROE⁽²⁾		0.3	%		0.2	%		(0.2	)%		0.4	%		6.0	%

	Three months ended
Quarterly Average ROE	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
U.S. GAAP Basis ROE		3.3	%		3.0	%		5.5	%		(8.4	)%		1.1	%
Operating ROE⁽²⁾		1.9	%		4.9	%		3.4	%		(9.1	)%		1.6	%

Basic and Diluted Shares	Three months ended September 30, 2024			Nine months ended September 30, 2024
Weighted-average common shares used in basic earnings per share calculations		430.8			436.7
Potentially dilutive securities:
Performance stock units, restricted stock units and other equity-based awards		5.0			5.6

Weighted-average common shares used in diluted earnings per share calculations		435.8			442.3

⁽¹⁾

As of September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023, total accumulated other comprehensive income (loss) includes $(1,341) million, $624 million, $(334) million, $(1,439) million and $1,826 million, net of taxes, respectively, related to changes in the discount rate used to remeasure the liability for future policy benefits and related reinsurance recoverables.

⁽²⁾	See page 37 herein for a reconciliation of U.S. GAAP Basis ROE to Operating ROE.

Consolidated Quarterly Results

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Consolidated Net Income (Loss) by Quarter

(amounts in millions, except per share amounts)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	874		$	855		$	875		$	2,604		$	904		$	915		$	902		$	915		$	3,636
Net investment income		777			808			782			2,367			810			801			785			787			3,183
Net investment gains (losses)		66			(61	)		49			54			38			(43	)		39			(11	)		23
Policy fees and other income		163			167			158			488			159			158			166			163			646

Total revenues		1,880			1,769			1,864			5,513			1,911			1,831			1,892			1,854			7,488

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		1,213			1,151			1,203			3,567			1,233			1,199			1,175			1,176			4,783
Liability remeasurement (gains) losses		34			39			(8	)		65			416			116			70			(15	)		587
Changes in fair value of market risk benefits and associated hedges		21			(8	)		(23	)		(10	)		14			(24	)		(19	)		17			(12	)
Interest credited		102			125			125			352			124			127			126			126			503
Acquisition and operating expenses, net of deferrals		259			229			236			724			248			228			226			240			942
Amortization of deferred acquisition costs and intangibles		62			60			65			187			63			65			64			72			264
Interest expense		28			30			30			88			30			30			29			29			118

Total benefits and expenses		1,719			1,626			1,628			4,973			2,128			1,741			1,671			1,645			7,185

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		161			143			236			540			(217	)		90			221			209			303
Provision (benefit) for income taxes		40			32			66			138			(36	)		30			55			55			104

INCOME (LOSS) FROM CONTINUING OPERATIONS		121			111			170			402			(181	)		60			166			154			199
Income (loss) from discontinued operations, net of taxes⁽¹⁾		(3	)		(1	)		(1	)		(5	)		(2	)		—			2			—			—

NET INCOME (LOSS)		118			110			169			397			(183	)		60			168			154			199
Less: net income attributable to noncontrolling interests		33			34			30			97			29			31			31			32			123

NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	$	85		$	76		$	139		$	300		$	(212	)	$	29		$	137		$	122		$	76


Earnings (Loss) Per Share Data:
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per share
Basic	$	0.20		$	0.18		$	0.32		$	0.70		$	(0.47	)	$	0.06		$	0.28		$	0.25		$	0.16
Diluted	$	0.20		$	0.17		$	0.31		$	0.69		$	(0.47	)	$	0.06		$	0.28		$	0.24		$	0.16
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share
Basic	$	0.20		$	0.17		$	0.31		$	0.69		$	(0.47	)	$	0.06		$	0.29		$	0.25		$	0.16
Diluted	$	0.19		$	0.17		$	0.31		$	0.68		$	(0.47	)	$	0.06		$	0.29		$	0.24		$	0.16
Weighted-average common shares outstanding
Basic		430.8			436.4			443.0			436.7			449.4			460.5			473.2			492.3			468.8
Diluted⁽²⁾		435.8			440.7			450.3			442.3			449.4			466.0			478.1			500.1			474.9

⁽¹⁾	Income (loss) from discontinued operations primarily relates to a settlement agreement involving the company’s former lifestyle protection insurance business that was sold on December 1, 2015.

⁽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 December 31, 2023, 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 December 31, 2023, as the inclusion of shares for performance stock units, restricted stock units and other equity-based awards of 6.3 million would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations for the three months ended December 31, 2023, dilutive potential weighted-average common shares outstanding would have been 455.7 million.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

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

(amounts in millions, except per share amounts)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	$	85		$	76		$	139		$	300		$	(212	)	$	29		$	137		$	122		$	76
Add: net income attributable to noncontrolling interests		33			34			30			97			29			31			31			32			123

NET INCOME (LOSS)		118			110			169			397			(183	)		60			168			154			199
Less: income (loss) from discontinued operations, net of taxes		(3	)		(1	)		(1	)		(5	)		(2	)		—			2			—			—

INCOME (LOSS) FROM CONTINUING OPERATIONS		121			111			170			402			(181	)		60			166			154			199
Less: net income from continuing operations attributable to noncontrolling interests		33			34			30			97			29			31			31			32			123

INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		88			77			140			305			(210	)		29			135			122			76

ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:
Net investment (gains) losses, net⁽¹⁾		(66	)		60			(50	)		(56	)		(38	)		43			(41	)		11			(25	)
Changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges⁽²⁾		17			(10	)		(26	)		(19	)		13			(26	)		(23	)		14			(22	)
(Gains) losses on early extinguishment of debt, net⁽³⁾		(2	)		7			(1	)		4			(1	)		—			—			(1	)		(2	)
Expenses related to restructuring		—			4			7			11			—			—			1			3			4
Taxes on adjustments		11			(13	)		15			13			6			(4	)		13			(5	)		10

ADJUSTED OPERATING INCOME (LOSS)	$	48		$	125		$	85		$	258		$	(230	)	$	42		$	85		$	144		$	41

ADJUSTED OPERATING INCOME (LOSS):
Enact segment	$	148		$	165		$	135		$	448		$	129		$	134		$	146		$	143		$	552
Long-Term Care Insurance segment		(46	)		(29	)		3			(72	)		(151	)		(71	)		(43	)		23			(242	)
Life and Annuities segment:
Life Insurance		(40	)		(23	)		(33	)		(96	)		(206	)		(25	)		(17	)		(27	)		(275	)
Fixed Annuities		6			12			11			29			9			17			10			14			50
Variable Annuities		7			10			7			24			14			5			9			9			37

Total Life and Annuities segment		(27	)		(1	)		(15	)		(43	)		(183	)		(3	)		2			(4	)		(188	)

Corporate and Other		(27	)		(10	)		(38	)		(75	)		(25	)		(18	)		(20	)		(18	)		(81	)

ADJUSTED OPERATING INCOME (LOSS)	$	48		$	125		$	85		$	258		$	(230	)	$	42		$	85		$	144		$	41


Earnings (Loss) Per Share Data:
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share
Basic	$	0.20		$	0.17		$	0.31		$	0.69		$	(0.47	)	$	0.06		$	0.29		$	0.25		$	0.16
Diluted	$	0.19		$	0.17		$	0.31		$	0.68		$	(0.47	)	$	0.06		$	0.29		$	0.24		$	0.16
Adjusted operating income (loss) per share
Basic	$	0.11		$	0.29		$	0.19		$	0.59		$	(0.51	)	$	0.09		$	0.18		$	0.29		$	0.09
Diluted	$	0.11		$	0.28		$	0.19		$	0.58		$	(0.51	)	$	0.09		$	0.18		$	0.29		$	0.09
Weighted-average common shares outstanding
Basic		430.8			436.4			443.0			436.7			449.4			460.5			473.2			492.3			468.8
Diluted⁽⁴⁾		435.8			440.7			450.3			442.3			449.4			466.0			478.1			500.1			474.9

⁽¹⁾	Net investment (gains) losses were adjusted for the portion attributable to noncontrolling interests (see page 35 for reconciliation).

⁽²⁾	Changes in fair value of market risk benefits and associated hedges were adjusted to exclude changes in reserves, attributed fees and benefit payments (see page 25 for reconciliation).

⁽³⁾	(Gains) losses on early extinguishment of debt are net of the portion attributable to noncontrolling interests of $2 million for the three months ended June 30, 2024.

⁽⁴⁾

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Consolidated Balance Sheets

(amounts in millions)


	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
ASSETS
Investments:
Fixed maturity securities available-for-sale, at fair value⁽¹⁾	$	47,342		$	45,233		$	46,065		$	46,781		$	43,968
Equity securities, at fair value		458			435			427			396			363
Commercial mortgage loans⁽²⁾		6,570			6,692			6,748			6,829			6,818
Less: Allowance for credit losses		(38	)		(30	)		(29	)		(27	)		(25	)

Commercial mortgage loans, net		6,532			6,662			6,719			6,802			6,793
Policy loans		2,316			2,359			2,219			2,220			2,233
Limited partnerships		3,100			2,968			2,949			2,821			2,699
Other invested assets		772			702			683			731			645

Total investments		60,520			58,359			59,062			59,751			56,701
Cash, cash equivalents and restricted cash		2,057			1,932			1,952			2,215			1,993
Accrued investment income		592			549			707			647			620
Deferred acquisition costs		1,831			1,884			1,934			1,988			2,042
Intangible assets		197			197			197			198			199
Reinsurance recoverable		18,626			17,739			18,315			19,054			17,623
Less: Allowance for credit losses		(27	)		(26	)		(27	)		(29	)		(28	)

Reinsurance recoverable, net		18,599			17,713			18,288			19,025			17,595
Other assets		443			518			516			489			453
Deferred tax asset		1,846			1,784			1,839			1,952			1,580
Market risk benefit assets		52			54			52			43			39
Separate account assets		4,623			4,553			4,645			4,509			4,244

Total assets	$	90,760		$	87,543		$	89,192		$	90,817		$	85,466

⁽¹⁾

Amortized cost of $48,961 million, $48,998 million, $49,281 million, $49,365 million and $49,855 million as of September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023, respectively, and allowance for credit losses of $—, $—, $7 million, $7 million and $6 million as of September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023, respectively.

⁽²⁾	Net of unamortized balance of loan origination fees and costs of $4 million as of September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Consolidated Balance Sheets

(amounts in millions)


	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	57,303		$	53,774		$	55,545		$	57,655		$	51,740
Policyholder account balances		14,864			15,047			15,315			15,540			15,590
Market risk benefit liabilities		532			500			528			625			579
Liability for policy and contract claims		655			649			673			652			631
Unearned premiums		121			130			139			149			162
Other liabilities		1,859			1,973			1,889			1,768			2,038
Long-term borrowings		1,548			1,564			1,579			1,584			1,602
Separate account liabilities		4,623			4,553			4,645			4,509			4,244
Liabilities related to discontinued operations⁽¹⁾		—			—			—			—			2

Total liabilities		81,505			78,190			80,313			82,482			76,588

Equity:
Common stock		1			1			1			1			1
Additional paid-in capital		11,868			11,880			11,873			11,884			11,877
Accumulated other comprehensive income (loss):
Change in the discount rate used to measure future policy benefits		(1,341	)		624			(334	)		(1,439	)		1,826
All other		(530	)		(2,311	)		(1,760	)		(1,116	)		(4,046	)

Total accumulated other comprehensive income (loss)		(1,871	)		(1,687	)		(2,094	)		(2,555	)		(2,220	)
Retained earnings		1,512			1,428			1,352			1,213			1,426
Treasury stock, at cost		(3,199	)		(3,163	)		(3,126	)		(3,063	)		(3,028	)

Total Genworth Financial, Inc.’s stockholders’ equity		8,311			8,459			8,006			7,480			8,056
Noncontrolling interests		944			894			873			855			822

Total equity		9,255			9,353			8,879			8,335			8,878

Total liabilities and equity	$	90,760		$	87,543		$	89,192		$	90,817		$	85,466

⁽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.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Consolidated Balance Sheet by Segment

(amounts in millions)


	September 30, 2024
	Enact			Long-Term Care Insurance			Life and Annuities			Corporate and Other⁽¹⁾			Total
ASSETS
Cash and investments	$	6,399		$	36,590		$	18,461		$	1,719		$	63,169
Deferred acquisition costs and intangible assets		52			858			1,103			15			2,028
Reinsurance recoverable, net		2			7,467			11,130			—			18,599
Deferred tax and other assets		146			1,772			193			178			2,289
Market risk benefit assets		—			—			52			—			52
Separate account assets		—			—			4,623			—			4,623

Total assets	$	6,599		$	46,687		$	35,562		$	1,912		$	90,760

LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	—		$	43,998		$	13,305		$	—		$	57,303
Policyholder account balances		—			—			14,864			—			14,864
Market risk benefit liabilities		—			—			532			—			532
Liability for policy and contract claims		510			—			138			7			655
Unearned premiums		121			—			—			—			121
Other liabilities		184			758			278			639			1,859
Borrowings		743			—			—			805			1,548
Separate account liabilities		—			—			4,623			—			4,623

Total liabilities		1,558			44,756			33,740			1,451			81,505

Equity:
Allocated equity, excluding accumulated other comprehensive income (loss)		4,181			2,657			2,444			900			10,182
Allocated accumulated other comprehensive income (loss)		(84	)		(726	)		(622	)		(439	)		(1,871	)

Total Genworth Financial, Inc.’s stockholders’ equity		4,097			1,931			1,822			461			8,311
Noncontrolling interests		944			—			—			—			944

Total equity		5,041			1,931			1,822			461			9,255

Total liabilities and equity	$	6,599		$	46,687		$	35,562		$	1,912		$	90,760

⁽¹⁾	Includes inter-segment eliminations and other businesses, including start-up growth initiatives and certain international businesses, that are not individually reportable.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Consolidated Balance Sheet by Segment

(amounts in millions)


	June 30, 2024
	Enact			Long-Term Care Insurance		Life and Annuities			Corporate and Other⁽¹⁾			Total
ASSETS
Cash and investments	$	6,115		$	35,095	$	18,061		$	1,569		$	60,840
Deferred acquisition costs and intangible assets		50			872		1,144			15			2,081
Reinsurance recoverable, net		1			6,994		10,718			—			17,713
Deferred tax and other assets		185			1,598		299			220			2,302
Market risk benefit assets		—			—		54			—			54
Separate account assets		—			—		4,553			—			4,553

Total assets	$	6,351		$	44,559	$	34,829		$	1,804		$	87,543

LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	—		$	41,024	$	12,750		$	—		$	53,774
Policyholder account balances		—			—		15,047			—			15,047
Market risk benefit liabilities		—			—		500			—			500
Liability for policy and contract claims		508			—		135			6			649
Unearned premiums		130			—		—			—			130
Other liabilities		135			934		288			616			1,973
Borrowings		742			—		—			822			1,564
Separate account liabilities		—			—		4,553			—			4,553

Total liabilities		1,515			41,958		33,273			1,444			78,190

Equity:
Allocated equity, excluding accumulated other comprehensive income (loss)		4,136			2,593		2,541			876			10,146
Allocated accumulated other comprehensive income (loss)		(194	)		8		(985	)		(516	)		(1,687	)

Total Genworth Financial, Inc.’s stockholders’ equity		3,942			2,601		1,556			360			8,459
Noncontrolling interests		894			—		—			—			894

Total equity		4,836			2,601		1,556			360			9,353

Total liabilities and equity	$	6,351		$	44,559	$	34,829		$	1,804		$	87,543

⁽¹⁾	Includes inter-segment eliminations and other businesses, including start-up growth initiatives and certain international businesses, that are not individually reportable.

Enact Segment

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Adjusted Operating Income—Enact Segment

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q		2Q			1Q			Total
REVENUES:
Premiums	$	249		$	244		$	241		$	734		$	240		$	243	$	239		$	235		$	957
Net investment income		62			59			57			178			57			55		50			46			208
Net investment gains (losses)		(1	)		(8	)		(6	)		(15	)		(1	)		—		(13	)		—			(14	)
Policy fees and other income		—			3			—			3			—			1		1			—			2

Total revenues		310			298			292			900			296			299		277			281			1,153

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		12			(17	)		20			15			24			18		(4	)		(11	)		27
Acquisition and operating expenses, net of deferrals		53			65			51			169			56			52		52			52			212
Amortization of deferred acquisition costs and intangibles		3			2			2			7			3			3		2			3			11
Interest expense		13			13			13			39			13			13		13			13			52

Total benefits and expenses		81			63			86			230			96			86		63			57			302

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		229			235			206			670			200			213		214			224			851
Provision for income taxes		49			51			45			145			43			48		46			49			186

INCOME FROM CONTINUING OPERATIONS		180			184			161			525			157			165		168			175			665
Less: net income attributable to noncontrolling interests		33			34			30			97			29			31		31			32			123

INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		147			150			131			428			128			134		137			143			542

ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:
Net investment (gains) losses, net⁽¹⁾		1			7			5			13			1			—		11			—			12
(Gains) losses on early extinguishment of debt, net⁽²⁾		—			9			—			9			—			—		—			—			—
Expenses related to restructuring		—			3			—			3			—			—		—			—			—
Taxes on adjustments		—			(4	)		(1	)		(5	)		—			—		(2	)		—			(2	)

ADJUSTED OPERATING INCOME	$	148		$	165		$	135		$	448		$	129		$	134	$	146		$	143		$	552



Direct Primary New Insurance Written (NIW)	$	13,591		$	13,619		$	10,526		$	37,736		$	10,453		$	14,391	$	15,083		$	13,154		$	53,081

⁽¹⁾	Net investment (gains) losses were adjusted for the portion attributable to noncontrolling interests of $1 million in the second and first quarters of 2024 and $2 million in the second quarter of 2023.

⁽²⁾	(Gains) losses on early extinguishment of debt are net of the portion attributable to noncontrolling interests of $2 million for the three months ended June 30, 2024.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Direct Primary New Insurance Written Metrics—Enact Segment

(amounts in millions)


	2024															2023
	3Q					2Q					1Q					4Q					3Q					2Q					1Q
	Direct Primary NIW		% of Direct Primary NIW			Direct Primary NIW		% of Direct Primary NIW			Direct Primary NIW		% of Direct Primary NIW			Direct Primary NIW		% of Direct Primary NIW			Direct Primary NIW		% of Direct Primary NIW			Direct Primary NIW		% of Direct Primary NIW			Direct Primary NIW		% of Direct Primary NIW
Payment Type
Monthly	$	12,851		95	%	$	13,177		97	%	$	10,034		95	%	$	10,187		98	%	$	14,099		98	%	$	14,774		98	%	$	12,809		97	%
Single		722		5			422		3			475		5			246		2			269		2			281		2			318		3
Other⁽¹⁾		18		—			20		—			17		—			20		—			23		—			28		—			27		—

Total	$	13,591		100	%	$	13,619		100	%	$	10,526		100	%	$	10,453		100	%	$	14,391		100	%	$	15,083		100	%	$	13,154		100	%

Origination
Purchase	$	12,982		96	%	$	13,173		97	%	$	10,072		96	%	$	10,169		97	%	$	14,073		98	%	$	14,720		98	%	$	12,761		97	%
Refinance		609		4			446		3			454		4			284		3			318		2			363		2			393		3

Total	$	13,591		100	%	$	13,619		100	%	$	10,526		100	%	$	10,453		100	%	$	14,391		100	%	$	15,083		100	%	$	13,154		100	%

FICO Scores
Over 760	$	6,433		47	%	$	6,471		47	%	$	5,218		49	%	$	5,086		49	%	$	6,679		46	%	$	6,911		46	%	$	6,004		46	%
740 - 759		2,172		16			2,113		16			1,664		16			1,680		16			2,438		17			2,608		17			2,268		17
720 - 739		1,855		14			1,839		13			1,368		13			1,378		13			1,928		13			2,097		14			1,817		14
700 - 719		1,398		10			1,334		10			990		9			997		10			1,422		10			1,499		10			1,296		10
680 - 699		905		7			893		7			629		6			664		6			974		7			1,060		7			954		7
660 - 679⁽²⁾		446		3			562		4			388		4			409		4			592		4			568		4			517		4
640 - 659		268		2			289		2			193		2			181		2			282		2			260		2			229		2
620 - 639		105		1			111		1			73		1			53		—			74		1			76		—			65		—
<620		9		—			7		—			3		—			5		—			2		—			4		—			4		—

Total	$	13,591		100	%	$	13,619		100	%	$	10,526		100	%	$	10,453		100	%	$	14,391		100	%	$	15,083		100	%	$	13,154		100	%

Loan-To-Value Ratio
95.01% and above	$	2,766		20	%	$	2,707		20	%	$	2,262		21	%	$	1,820		18	%	$	2,677		18	%	$	2,692		18	%	$	2,106		16	%
90.01% to 95.00%		5,232		39			5,228		38			3,876		37			3,759		36			5,431		38			5,743		38			4,928		38
85.01% to 90.00%		4,044		30			4,190		31			3,177		30			3,489		33			4,568		32			4,753		31			4,390		33
85.00% and below		1,549		11			1,494		11			1,211		12			1,385		13			1,715		12			1,895		13			1,730		13

Total	$	13,591		100	%	$	13,619		100	%	$	10,526		100	%	$	10,453		100	%	$	14,391		100	%	$	15,083		100	%	$	13,154		100	%

Debt-To-Income Ratio
45.01% and above	$	3,742		28	%	$	4,039		30	%	$	3,165		30	%	$	3,158		30	%	$	4,437		31	%	$	4,467		30	%	$	3,538		27	%
38.01% to 45.00%		5,026		37			5,036		37			3,824		36			3,816		37			4,936		34			5,214		34			4,940		38
38.00% and below		4,823		35			4,544		33			3,537		34			3,479		33			5,018		35			5,402		36			4,676		35

Total	$	13,591		100	%	$	13,619		100	%	$	10,526		100	%	$	10,453		100	%	$	14,391		100	%	$	15,083		100	%	$	13,154		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

THIRD QUARTER 2024

Other Metrics—Enact Segment

(dollar amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total

Direct Primary Insurance In-Force	$	268,003		$	266,060		$	263,645					$	262,937		$	262,014		$	257,816		$	252,516

Direct Risk In-Force
Primary	$	69,611		$	68,878		$	67,950					$	67,529		$	67,056		$	65,714		$	64,106
Pool		60			65			67						69			70			73			76

Total Direct Risk In-Force	$	69,671		$	68,943		$	68,017					$	67,598		$	67,126		$	65,787		$	64,182


Expense Ratio⁽¹⁾		22	%		28	%		22	%		24	%		25	%		23	%		23	%		23	%		23	%

Primary Persistency Rate		83	%		83	%		85	%		83	%		86	%		84	%		84	%		85	%		85	%

Combined Risk To Capital Ratio⁽²⁾		10.5:1			10.8:1			11.2:1						11.6:1			11.6:1			11.8:1			12.6:1

EMICO Risk To Capital Ratio^(2),(3)		10.4:1			10.8:1			11.2:1						11.6:1			11.6:1			11.9:1			12.7:1

PMIERs Available Assets⁽⁴⁾	$	5,194		$	5,024		$	4,853					$	5,006		$	5,268		$	5,093		$	5,357

PMIERs Required Assets⁽⁴⁾	$	3,004		$	2,967		$	2,970					$	3,119		$	3,251		$	3,135		$	3,259

Available Assets Above PMIERs Requirements⁽⁴⁾	$	2,190		$	2,057		$	1,883					$	1,887		$	2,017		$	1,958		$	2,098

PMIERs Sufficiency Ratio⁽⁴⁾		173	%		169	%		163	%					161	%		162	%		162	%		164	%

Average Primary Loan Size (in thousands)	$	277		$	274		$	272					$	270		$	268		$	265		$	262

⁽¹⁾

The ratio of an insurer’s general expenses to net earned premiums. Enact’s general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles. The expense ratio is calculated using whole dollars and may be different than the ratio calculated using the rounded numbers included herein. In the second quarter of 2024, the company incurred an $11 million loss on the early redemption of Enact Holdings, Inc.’s senior notes due in 2025, which increased the expense ratio by five percentage points for the three months ended June 30, 2024 and two percentage points for the nine months ended September 30, 2024.

⁽²⁾

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.

⁽³⁾	Enact Mortgage Insurance Corporation (EMICO), the company’s principal U.S. mortgage insurance subsidiary.

⁽⁴⁾	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.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Loss Metrics—Enact Segment

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
Average Direct Primary Paid Claim (in thousands)⁽¹⁾	$	39.7		$	39.3		$	37.5					$	37.2		$	38.7		$	37.4		$	39.0
Average Reserve Per Primary Delinquency (in thousands)⁽²⁾	$	21.9		$	24.3		$	24.9					$	23.3		$	23.9		$	25.0		$	24.8

Reserves:
Direct primary case⁽³⁾	$	461		$	462		$	486					$	477		$	460		$	452		$	462
All other⁽³⁾		49			46			46						41			41			38			40

Total Reserves	$	510		$	508		$	532					$	518		$	501		$	490		$	502


Beginning Reserves	$	508		$	532		$	518		$	518		$	501		$	490		$	502		$	519		$	519
Paid claims		(10	)		(7	)		(6	)		(23	)		(7	)		(7	)		(8	)		(6	)		(28	)
Increase (decrease) in reserves		12			(17	)		20			15			24			18			(4	)		(11	)		27

Ending Reserves	$	510		$	508		$	532		$	510		$	518		$	501		$	490		$	502		$	518

Loss Ratio⁽⁴⁾		5	%		(7	)%		8	%		2	%		10	%		7	%		(2	)%		(5	)%		3	%

⁽¹⁾

Paid claims on direct primary case reserves divided by the number of paid claims. Average direct primary paid claims in the third, second and first quarters of 2024 and the fourth quarter of 2023 include payments in relation to agreements on non-performing loans. Prior year amounts have been reclassified to conform to the current year presentation.

⁽²⁾	Direct primary case reserves divided by primary delinquency count.

⁽³⁾	Direct primary case reserves exclude loss adjustment expenses (LAE), pool, incurred but not reported (IBNR) and reinsurance reserves. Other includes LAE, pool, IBNR and reinsurance reserves.

⁽⁴⁾	The loss ratio is calculated using whole dollars and may be different than the ratio calculated using the rounded numbers included herein.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Delinquency Metrics—Enact Segment

(dollar amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
Primary Loans
Primary loans in-force		967,501			969,767			969,866						974,516			977,832			973,280			965,544
Primary delinquent loans		21,027			19,051			19,492						20,432			19,241			18,065			18,633
Primary delinquency rate		2.17	%		1.96	%		2.01	%					2.10	%		1.97	%		1.86	%		1.93	%

Beginning Number of Primary Delinquencies		19,051			19,492			20,432			20,432			19,241			18,065			18,633			19,943			19,943
New delinquencies		12,964			10,461			11,395			34,820			11,706			11,107			9,205			9,599			41,617
Delinquency cures		(10,749	)		(10,731	)		(12,160	)		(33,640	)		(10,317	)		(9,778	)		(9,609	)		(10,771	)		(40,475	)
Paid claims		(220	)		(160	)		(172	)		(552	)		(186	)		(147	)		(156	)		(126	)		(615	)
Rescissions and claim denials		(19	)		(11	)		(3	)		(33	)		(12	)		(6	)		(8	)		(12	)		(38	)

Ending Number of Primary Delinquencies		21,027			19,051			19,492			21,027			20,432			19,241			18,065			18,633			20,432


Composition of Cures
Reported delinquent and cured-intraquarter		2,304			1,886			2,726						2,058			1,877			1,661			2,016
Number of missed payments delinquent prior to cure:
3 payments or less		5,556			5,587			5,994						5,235			4,792			4,516			5,238
4 - 11 payments		2,305			2,573			2,749						2,331			2,265			2,448			2,431
12 payments or more		584			685			691						693			844			984			1,086

Total		10,749			10,731			12,160						10,317			9,778			9,609			10,771

Primary Delinquencies by Missed Payment Status
3 payments or less		11,132			9,704			9,506						10,166			9,398			8,162			7,876
4 - 11 payments		6,831			6,306			6,853						6,934			6,381			6,229			6,714
12 payments or more		3,064			3,041			3,133						3,332			3,462			3,674			4,043

Primary Delinquencies		21,027			19,051			19,492						20,432			19,241			18,065			18,633



	September 30, 2024
Direct Primary Case Reserves⁽¹⁾ and Percentage Reserved by Payment Status	Direct Primary Case Reserves			Direct Primary Risk In-Force			Reserves as % of Risk In-Force
3 payments or less in default	$	102		$	715			14	%
4 - 11 payments in default		188			477			39	%
12 payments or more in default		171			202			85	%

Total	$	461		$	1,394			33	%


	December 31, 2023
Direct Primary Case Reserves⁽¹⁾ and Percentage Reserved by Payment Status	Direct Primary Case Reserves			Direct Primary Risk In-Force			Reserves as % of Risk In-Force
3 payments or less in default	$	88		$	629			14	%
4 - 11 payments in default		205			469			44	%
12 payments or more in default		184			200			92	%

Total	$	477		$	1,298			37	%

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

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Portfolio Quality Metrics—Enact Segment

(amounts in millions)


	September 30, 2024
Policy Year	% of Direct Primary Case Reserves⁽¹⁾			Direct Primary Insurance In-Force		% of Total			Direct Primary Risk In-Force		% of Total			Delinquency Rate
2008 and prior		12	%	$	5,011		2	%	$	1,296		2	%		8.16	%
2009-2016		7			5,933		2			1,552		2			4.30	%
2017		4			4,205		2			1,114		2			4.06	%
2018		5			5,037		2			1,297		2			4.23	%
2019		8			11,924		4			3,113		4			3.02	%
2020		15			36,958		14			10,042		14			1.92	%
2021		22			60,342		22			15,710		23			1.90	%
2022		18			54,878		20			13,892		20			1.99	%
2023		8			47,387		18			12,271		18			1.27	%
2024		1			36,328		14			9,324		13			0.27	%

Total		100	%	$	268,003		100	%	$	69,611		100	%		2.17	%



	September 30, 2024					December 31, 2023					September 30, 2023
	Direct Primary Risk In-Force		% of Total			Direct Primary Risk In-Force		% of Total			Direct Primary Risk In-Force		% of Total
Loan-to-value ratio
95.01% and above	$	14,141		20	%	$	12,878		19	%	$	12,595		19	%
90.01% to 95.00%		32,579		47			31,781		47			31,696		47
85.01% to 90.00%		19,649		28			19,163		28			18,945		28
85.00% and below		3,242		5			3,707		6			3,820		6

Total	$	69,611		100	%	$	67,529		100	%	$	67,056		100	%



	September 30, 2024					December 31, 2023					September 30, 2023
	Direct Primary Risk In-Force		% of Total			Direct Primary Risk In-Force		% of Total			Direct Primary Risk In-Force		% of Total
Credit Quality
Over 760	$	29,644		43	%	$	28,363		42	%	$	28,014		42	%
740 - 759		11,423		17			11,096		17			11,009		17
720 - 739		9,912		14			9,621		14			9,553		14
700 - 719		7,751		11			7,623		11			7,615		12
680 - 699		5,553		8			5,557		8			5,582		8
660 - 679⁽²⁾		2,951		4			2,908		4			2,901		4
640 - 659		1,592		2			1,565		3			1,569		2
620 - 639		636		1			635		1			647		1
<620		149		—			161		—			166		—

Total	$	69,611		100	%	$	67,529		100	%	$	67,056		100	%

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

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

Long-Term Care Insurance Segment

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Adjusted Operating Income (Loss)—Long-Term Care Insurance Segment

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q⁽¹⁾			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	581		$	564		$	578		$	1,723		$	615		$	621		$	611		$	616		$	2,463
Net investment income		483			494			464			1,441			489			482			470			473			1,914
Net investment gains (losses)		71			(47	)		63			87			64			(21	)		62			9			114

Total revenues		1,135			1,011			1,105			3,251			1,168			1,082			1,143			1,098			4,491

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		949			934			936			2,819			964			953			941			944			3,802
Liability remeasurement (gains) losses		28			43			(16	)		55			188			104			61			(32	)		321
Acquisition and operating expenses, net of deferrals		118			82			102			302			116			109			108			119			452
Amortization of deferred acquisition costs and intangibles		17			18			17			52			18			17			18			18			71

Total benefits and expenses		1,112			1,077			1,039			3,228			1,286			1,183			1,128			1,049			4,646

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		23			(66	)		66			23			(118	)		(101	)		15			49			(155	)
Provision (benefit) for income taxes		13			—			14			27			(18	)		(13	)		10			18			(3	)

INCOME (LOSS) FROM CONTINUING OPERATIONS		10			(66	)		52			(4	)		(100	)		(88	)		5			31			(152	)
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses		(71	)		47			(63	)		(87	)		(64	)		21			(62	)		(9	)		(114	)
Expenses related to restructuring		—			—			1			1			—			—			1			(1	)		—
Taxes on adjustments		15			(10	)		13			18			13			(4	)		13			2			24

ADJUSTED OPERATING INCOME (LOSS)	$	(46	)	$	(29	)	$	3		$	(72	)	$	(151	)	$	(71	)	$	(43	)	$	23		$	(242	)

Liability remeasurement (gains) losses:
Cash flow assumption updates	$	(63	)	$	(24	)	$	(2	)	$	(89	)	$	61		$	(6	)	$	(24	)	$	21		$	52
Actual to expected experience		91			67			(14	)		144			127			110			85			(53	)		269

Total	$	28		$	43		$	(16	)	$	55		$	188		$	104		$	61		$	(32	)	$	321

Ratio of the liability remeasurement (gains) losses to beginning reserves⁽²⁾		0.07	%		0.10	%		(0.04	)%		0.13	%		0.45	%		0.25	%		0.15	%		(0.08	)%		0.77	%

⁽¹⁾

In the fourth quarter of 2023, the liability remeasurement loss of $188 million in the company’s long-term care insurance business reflected an unfavorable impact from annual cash flow assumption updates of $61 million, including updates to its healthy life assumptions to better align near-term experience for cost of care, mortality, incidence and lapse. These adverse assumption updates were partially offset by a favorable update to disabled life mortality assumptions to reflect an expectation that mortality will continue at elevated levels in the near term post the coronavirus pandemic (COVID-19). The company also evaluated its assumptions regarding expectations of future premium rate increase approvals and benefit reductions and made no significant changes to its 2023 multi-year in-force rate action plan. However, the company did increase its assumption for future approvals and benefit reductions given its current plans for rate increase filings and historical experience regarding approvals and regulatory support, as well as benefit reductions and legal settlement results. In addition, the company updated its assumptions for the third long-term care insurance legal settlement primarily impacting its Choice II policies, which represents approximately 35% of the overall block. As previously disclosed, the third legal settlement was mostly comprised of profitable uncapped cohorts and therefore had a muted favorable impact on the liability remeasurement (gain) loss in the income statement.

⁽²⁾	The ratio of the liability remeasurement (gains) losses to beginning reserves is calculated by dividing the liability remeasurement (gains) losses by the beginning liability for future policy benefits at the locked-in discount rate as of each applicable quarter.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Statutory Impact of In-Force Rate Actions—Long-Term Care Insurance Segment

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
Impact of in-force rate actions on pre-tax statutory earnings⁽¹⁾
Premiums, premium tax, commissions and other expenses, net⁽²⁾	$	232		$	220		$	217		$	669		$	232		$	231		$	224		$	219		$	906
Reserve changes⁽²⁾		90			102			114			306			119			99			104			94			416

Settlement impacts - reserve changes		133			222			240			595			232			169			97			93			591
Settlement impacts - litigation expenses and settlement payments		(45	)		(99	)		(109	)		(253	)		(116	)		(102	)		(54	)		(56	)		(328	)

Settlement impacts, net		88			123			131			342			116			67			43			37			263

Statutory earnings from in-force rate actions	$	410		$	445		$	462		$	1,317		$	467		$	397		$	371		$	350		$	1,585

⁽¹⁾	Includes all implemented in-force rate actions since 2012.

⁽²⁾

Earned premium and reserve change estimates for statutory earnings reflect certain simplifying assumptions that may vary materially from actual historical results, including but not limited to, a uniform rate of coinsurance and premium taxes in addition to consistent policyholder behavior over time. Actual behavior may differ significantly from these assumptions and these impacts exclude reserve updates.

Life and Annuities Segment

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Adjusted Operating Income (Loss)—Life and Annuities Segment

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q⁽¹⁾			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	42		$	44		$	53		$	139		$	47		$	48		$	50		$	62		$	207
Net investment income		228			250			254			732			256			261			261			264			1,042
Net investment gains (losses)		(4	)		(4	)		(4	)		(12	)		(14	)		(18	)		(7	)		(10	)		(49	)
Policy fees and other income		163			164			158			485			160			158			165			163			646

Total revenues		429			454			461			1,344			449			449			469			479			1,846

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		253			237			250			740			248			229			240			246			963
Liability remeasurement (gains) losses		6			(4	)		8			10			228			12			9			17			266
Changes in fair value of market risk benefits and associated hedges		21			(8	)		(23	)		(10	)		14			(24	)		(19	)		17			(12	)
Interest credited		102			125			125			352			124			127			126			126			503
Acquisition and operating expenses, net of deferrals		63			60			54			177			55			54			51			53			213
Amortization of deferred acquisition costs and intangibles		41			39			45			125			41			45			44			51			181

Total benefits and expenses		486			449			459			1,394			710			443			451			510			2,114

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(57	)		5			2			(50	)		(261	)		6			18			(31	)		(268	)
Provision (benefit) for income taxes		(13	)		1			—			(12	)		(56	)		1			3			(7	)		(59	)

INCOME (LOSS) FROM CONTINUING OPERATIONS		(44	)		4			2			(38	)		(205	)		5			15			(24	)		(209	)

ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses		4			4			4			12			14			18			7			10			49
Changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges⁽²⁾		17			(10	)		(26	)		(19	)		13			(26	)		(23	)		14			(22	)
Taxes on adjustments		(4	)		1			5			2			(5	)		—			3			(4	)		(6	)

ADJUSTED OPERATING INCOME (LOSS)	$	(27	)	$	(1	)	$	(15	)	$	(43	)	$	(183	)	$	(3	)	$	2		$	(4	)	$	(188	)



⁽¹⁾ In the fourth quarter of 2023, the liability remeasurement loss of $228 million was primarily driven by an unfavorable impact from cash flow assumption updates in the company’s life insurance products reflecting updates to persistency and mortality assumptions. Additional information is included on page 26.
⁽²⁾ Changes in fair value of market risk benefits and associated hedges were adjusted to exclude changes in reserves, attributed fees and benefit payments as reconciled below:
Changes in fair value of market risk benefits and associated hedges	$	21		$	(8	)	$	(23	)	$	(10	)	$	14		$	(24	)	$	(19	)	$	17		$	(12	)
Adjustment for changes in reserves, attributed fees and benefit payments		(4	)		(2	)		(3	)		(9	)		(1	)		(2	)		(4	)		(3	)		(10	)

Changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges	$	17		$	(10	)	$	(26	)	$	(19	)	$	13		$	(26	)	$	(23	)	$	14		$	(22	)

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Adjusted Operating Loss—Life and Annuities Segment—Life Insurance

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q^(1),(2)			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	42		$	44		$	53		$	139		$	47		$	48		$	50		$	62		$	207
Net investment income		146			167			167			480			167			169			165			164			665
Net investment gains (losses)		(2	)		5			5			8			(6	)		—			(1	)		(2	)		(9	)
Policy fees and other income		135			136			129			400			131			130			136			134			531

Total revenues		321			352			354			1,027			339			347			350			358			1,394

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		213			200			208			621			207			184			197			199			787
Liability remeasurement (gains) losses		5			—			11			16			229			22			7			18			276
Interest credited		78			101			99			278			98			99			98			98			393
Acquisition and operating expenses, net of deferrals		41			43			35			119			38			36			34			36			144
Amortization of deferred acquisition costs and intangibles		36			33			38			107			35			38			36			44			153

Total benefits and expenses		373			377			391			1,141			607			379			372			395			1,753

LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(52	)		(25	)		(37	)		(114	)		(268	)		(32	)		(22	)		(37	)		(359	)
Benefit for income taxes		(11	)		(5	)		(8	)		(24	)		(57	)		(7	)		(5	)		(8	)		(77	)

LOSS FROM CONTINUING OPERATIONS		(41	)		(20	)		(29	)		(90	)		(211	)		(25	)		(17	)		(29	)		(282	)

ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:
Net investment (gains) losses		2			(5	)		(5	)		(8	)		6			—			1			2			9
Taxes on adjustments		(1	)		2			1			2			(1	)		—			(1	)		—			(2	)

ADJUSTED OPERATING LOSS	$	(40	)	$	(23	)	$	(33	)	$	(96	)	$	(206	)	$	(25	)	$	(17	)	$	(27	)	$	(275	)

⁽¹⁾

In the fourth quarter of 2023, the company’s life insurance products had an unfavorable impact from cash flow assumption updates of $226 million reflecting updates to its persistency and mortality assumptions. The company made an unfavorable update to its persistency assumptions particularly in certain universal life insurance products with secondary guarantees to better reflect emerging experience, consistent with others in the industry. The company also made unfavorable updates to its mortality assumption in its term universal, universal and term life insurance products to better reflect emerging experience related to more modest mortality improvement and to include an expectation that mortality will continue at elevated levels in the near term post-COVID-19.

⁽²⁾

Effective December 31, 2023, the company entered into a binding letter of intent with a third-party to cede, on a yearly renewable term basis, certain term and universal life insurance products. Policy fees and other income included $5 million of ceded deposits and the remeasurement loss reflected higher ceded universal life insurance reserves of $40 million. As a result, this transaction resulted in a gain of $35 million that was deferred as cost of reinsurance in benefits and other changes in policy reserves. Therefore, there was no impact to net income (loss).

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Adjusted Operating Income—Life and Annuities Segment—Fixed Annuities

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Net investment income	$	76		$	77		$	80		$	233		$	82		$	85		$	87		$	91		$	345
Net investment gains (losses)		(2	)		(9	)		(9	)		(20	)		(8	)		(18	)		(5	)		(8	)		(39	)
Policy fees and other income		1			2			2			5			2			1			2			2			7

Total revenues		75			70			73			218			76			68			84			85			313

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		34			33			36			103			35			36			35			39			145
Liability remeasurement (gains) losses		1			(4	)		(3	)		(6	)		(1	)		(10	)		2			(1	)		(10	)
Changes in fair value of market risk benefits and associated hedges		8			(4	)		(7	)		(3	)		16			(18	)		(4	)		8			2
Interest credited		23			23			25			71			26			26			27			27			106
Acquisition and operating expenses, net of deferrals		12			9			8			29			8			9			7			8			32
Amortization of deferred acquisition costs and intangibles		2			2			3			7			2			3			4			3			12

Total benefits and expenses		80			59			62			201			86			46			71			84			287

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(5	)		11			11			17			(10	)		22			13			1			26
Provision (benefit) for income taxes		(1	)		3			2			4			(2	)		5			3			—			6

INCOME (LOSS) FROM CONTINUING OPERATIONS		(4	)		8			9			13			(8	)		17			10			1			20

ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses		2			9			9			20			8			18			5			8			39
Changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges⁽¹⁾		9			(3	)		(7	)		(1	)		14			(18	)		(5	)		8			(1	)
Taxes on adjustments		(1	)		(2	)		—			(3	)		(5	)		—			—			(3	)		(8	)

ADJUSTED OPERATING INCOME	$	6		$	12		$	11		$	29		$	9		$	17		$	10		$	14		$	50


⁽¹⁾ Changes in fair value of market risk benefits and associated hedges were adjusted to exclude changes in reserves, attributed fees and benefit payments as reconciled below:
Changes in fair value of market risk benefits and associated hedges	$	8		$	(4	)	$	(7	)	$	(3	)	$	16		$	(18	)	$	(4	)	$	8		$	2
Adjustment for changes in reserves, attributed fees and benefit payments		1			1			—			2			(2	)		—			(1	)		—			(3	)

Changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges	$	9		$	(3	)	$	(7	)	$	(1	)	$	14		$	(18	)	$	(5	)	$	8		$	(1	)

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Adjusted Operating Income—Life and Annuities Segment—Variable Annuities

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
REVENUES:
Net investment income	$	6		$	6		$	7		$	19		$	7		$	7		$	9		$	9		$	32
Net investment gains (losses)		—			—			—			—			—			—			(1	)		—			(1	)
Policy fees and other income		27			26			27			80			27			27			27			27			108

Total revenues		33			32			34			99			34			34			35			36			139

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		6			4			6			16			6			9			8			8			31
Changes in fair value of market risk benefits and associated hedges		13			(4	)		(16	)		(7	)		(2	)		(6	)		(15	)		9			(14	)
Interest credited		1			1			1			3			—			2			1			1			4
Acquisition and operating expenses, net of deferrals		10			8			11			29			9			9			10			9			37
Amortization of deferred acquisition costs and intangibles		3			4			4			11			4			4			4			4			16

Total benefits and expenses		33			13			6			52			17			18			8			31			74

INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		—			19			28			47			17			16			27			5			65
Provision (benefit) for income taxes		(1	)		3			6			8			3			3			5			1			12

INCOME FROM CONTINUING OPERATIONS		1			16			22			39			14			13			22			4			53

ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS:
Net investment (gains) losses		—			—			—			—			—			—			1			—			1
Changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges⁽¹⁾		8			(7	)		(19	)		(18	)		(1	)		(8	)		(18	)		6			(21	)
Taxes on adjustments		(2	)		1			4			3			1			—			4			(1	)		4

ADJUSTED OPERATING INCOME	$	7		$	10		$	7		$	24		$	14		$	5		$	9		$	9		$	37


⁽¹⁾ Changes in fair value of market risk benefits and associated hedges were adjusted to exclude changes in reserves, attributed fees and benefit payments as reconciled below:
Changes in fair value of market risk benefits and associated hedges	$	13		$	(4	)	$	(16	)	$	(7	)	$	(2	)	$	(6	)	$	(15	)	$	9		$	(14	)
Adjustment for changes in reserves, attributed fees and benefit payments		(5	)		(3	)		(3	)		(11	)		1			(2	)		(3	)		(3	)		(7	)

Changes in fair value of market risk benefits attributable to interest rates, equity markets and associated hedges	$	8		$	(7	)	$	(19	)	$	(18	)	$	(1	)	$	(8	)	$	(18	)	$	6		$	(21	)

Corporate and Other

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Adjusted Operating Loss—Corporate and Other⁽¹⁾

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total

REVENUES:
Premiums	$	2		$	3		$	3		$	8		$	2		$	3		$	2		$	2		$	9
Net investment income		4			5			7			16			8			3			4			4			19
Net investment gains (losses)		—			(2	)		(4	)		(6	)		(11	)		(4	)		(3	)		(10	)		(28	)
Policy fees and other income		—			—			—			—			(1	)		(1	)		—			—			(2	)

Total revenues		6			6			6			18			(2	)		1			3			(4	)		(2	)

BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		(1	)		(3	)		(3	)		(7	)		(3	)		(1	)		(2	)		(3	)		(9	)
Acquisition and operating expenses, net of deferrals		25			22			29			76			21			13			15			16			65
Amortization of deferred acquisition costs and intangibles		1			1			1			3			1			—			—			—			1
Interest expense		15			17			17			49			17			17			16			16			66

Total benefits and expenses		40			37			44			121			36			29			29			29			123

LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(34	)		(31	)		(38	)		(103	)		(38	)		(28	)		(26	)		(33	)		(125	)
Provision (benefit) for income taxes		(9	)		(20	)		7			(22	)		(5	)		(6	)		(4	)		(5	)		(20	)

LOSS FROM CONTINUING OPERATIONS		(25	)		(11	)		(45	)		(81	)		(33	)		(22	)		(22	)		(28	)		(105	)

ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:
Net investment (gains) losses		—			2			4			6			11			4			3			10			28
(Gains) losses on early extinguishment of debt		(2	)		(2	)		(1	)		(5	)		(1	)		—			—			(1	)		(2	)
Expenses related to restructuring		—			1			6			7			—			—			—			4			4
Taxes on adjustments		—			—			(2	)		(2	)		(2	)		—			(1	)		(3	)		(6	)

ADJUSTED OPERATING LOSS	$	(27	)	$	(10	)	$	(38	)	$	(75	)	$	(25	)	$	(18	)	$	(20	)	$	(18	)	$	(81	)

⁽¹⁾	Includes inter-segment eliminations and the results of other businesses, including start-up growth initiatives and certain international businesses, that are not individually reportable.

Additional Financial Data

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Investments Summary

(amounts in millions)


		September 30, 2024					June 30, 2024					March 31, 2024					December 31, 2023					September 30, 2023
		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		$	27,750		45	%	$	26,250		43	%	$	26,667		43	%	$	27,302		43	%	$	25,148		42	%
Private fixed maturity securities			11,369		18			10,933		18			11,021		18			11,016		18			10,432		17
Residential mortgage-backed securities⁽¹⁾			860		1			851		1			876		1			907		1			891		2
Commercial mortgage-backed securities			1,360		2			1,312		2			1,315		2			1,413		2			1,495		3
Other asset-backed securities			2,137		3			2,207		4			2,264		4			2,199		4			2,163		4
State and political subdivisions			2,266		4			2,168		4			2,266		4			2,302		4			2,164		4
Non-investment grade fixed maturity securities			1,600		3			1,512		3			1,656		3			1,642		3			1,675		3
Equity securities:
Common stocks and mutual funds			422		1			400		1			377		1			347		1			316		1
Preferred stocks			36		—			35		—			50		—			49		—			47		—
Commercial mortgage loans, net			6,532		10			6,662		11			6,719		11			6,802		10			6,793		11
Policy loans			2,316		4			2,359		4			2,219		4			2,220		4			2,233		4
Limited partnerships			3,100		5			2,968		5			2,949		5			2,821		5			2,699		5
Cash, cash equivalents, restricted cash and short-term investments			2,059		3			1,944		3			1,962		3			2,242		4			2,023		3
Other invested assets:	Derivatives:
	Interest rate swaps		60		—			26		—			35		—			55		—			12		—
	Foreign currency swaps		9		—			12		—			11		—			10		—			15		—
	Equity index options		21		—			21		—			20		—			15		—			11		—
	Forward bond purchase commitments		60		—			21		—			41		—			51		—			—		—
	Other		620		1			610		1			566		1			573		1			577		1

Total invested assets and cash		$	62,577		100	%	$	60,291		100	%	$	61,014		100	%	$	61,966		100	%	$	58,694		100	%

Public Fixed Maturity Securities—Credit Quality:
NRSRO⁽²⁾ Designation

AAA		$	2,558		8	%	$	2,456		8	%	$	2,472		8	%	$	2,559		8	%	$	2,533		8	%
AA			6,311		19			6,017		20			6,113		19			6,170		19			5,650		19
A			9,132		28			8,671		28			8,945		28			9,287		29			8,359		28
BBB			13,948		43			13,184		42			13,336		43			13,645		42			12,923		43
BB			562		2			496		2			519		2			498		2			519		2
B			28		—			27		—			27		—			30		—			20		—
CCC and lower			—		—			—		—			—		—			—		—			—		—

Total public fixed maturity securities		$	32,539		100	%	$	30,851		100	%	$	31,412		100	%	$	32,189		100	%	$	30,004		100	%

Private Fixed Maturity Securities—Credit Quality:
NRSRO⁽²⁾ Designation

AAA		$	828		6	%	$	811		6	%	$	851		6	%	$	832		6	%	$	867		6	%
AA			1,555		11			1,510		10			1,570		11			1,477		10			1,352		10
A			4,165		28			4,050		28			4,078		28			4,043		28			3,960		28
BBB			7,245		48			7,022		50			7,044		47			7,126		48			6,649		48
BB			883		6			891		6			991		7			975		7			993		7
B			98		1			70		—			104		1			117		1			121		1
CCC and lower			14		—			13		—			—		—			7		—			7		—
Not rated			15		—			15		—			15		—			15		—			15		—

Total private fixed maturity securities		$	14,803		100	%	$	14,382		100	%	$	14,653		100	%	$	14,592		100	%	$	13,964		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

THIRD QUARTER 2024

Fixed Maturity Securities Summary

(amounts in millions)


	September 30, 2024					June 30, 2024					March 31, 2024					December 31, 2023					September 30, 2023
	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	$	3,717		8	%	$	3,512		8	%	$	3,460		8	%	$	3,494		7	%	$	3,112		7	%
State and political subdivisions		2,266		5			2,168		5			2,266		5			2,302		5			2,164		5
Foreign government		863		2			709		2			613		1			626		1			583		1
U.S. corporate		28,313		60			26,813		58			27,437		59			27,985		60			25,956		60
Foreign corporate		7,804		16			7,636		17			7,802		17			7,811		17			7,554		17
Residential mortgage-backed securities		859		2			851		2			876		2			907		2			891		2
Commercial mortgage-backed securities		1,360		3			1,312		3			1,321		3			1,418		3			1,503		3
Other asset-backed securities		2,160		4			2,232		5			2,290		5			2,238		5			2,205		5

Total fixed maturity securities	$	47,342		100	%	$	45,233		100	%	$	46,065		100	%	$	46,781		100	%	$	43,968		100	%

Corporate Bond Holdings - Industry Sector:

Investment Grade:
Finance and insurance	$	9,089		25	%	$	8,695		26	%	$	8,876		25	%	$	9,045		25	%	$	8,541		26	%
Utilities		5,189		14			4,887		14			4,902		14			4,904		14			4,503		13
Energy		3,436		10			3,186		9			3,153		9			3,181		9			2,967		9
Consumer - non-cyclical		5,100		14			4,823		14			4,981		15			4,979		14			4,573		14
Consumer - cyclical		1,556		4			1,542		4			1,588		5			1,659		5			1,497		4
Capital goods		2,755		8			2,606		8			2,559		7			2,593		7			2,406		7
Industrial		1,802		5			1,740		5			1,832		5			1,869		5			1,773		5
Technology and communications		3,454		10			3,381		10			3,491		10			3,686		10			3,422		10
Transportation		1,538		4			1,461		4			1,466		4			1,498		4			1,371		4
Other		780		2			770		2			870		2			895		3			933		3

Subtotal		34,699		96			33,091		96			33,718		96			34,309		96			31,986		95

Non-Investment Grade:
Finance and insurance		185		1			185		1			204		1			181		1			176		1
Utilities		80		—			55		—			52		—			54		—			72		—
Energy		167		1			183		1			197		1			218		1			218		1
Consumer - non-cyclical		134		—			128		—			139		—			142		—			135		—
Consumer - cyclical		270		1			242		1			260		1			211		1			262		1
Capital goods		138		—			134		—			134		—			149		—			157		1
Industrial		160		—			157		—			170		—			161		—			145		—
Technology and communications		182		1			175		1			213		1			228		1			212		1
Transportation		24		—			23		—			27		—			28		—			29		—
Other		78		—			76		—			125		—			115		—			118		—

Subtotal		1,418		4			1,358		4			1,521		4			1,487		4			1,524		5

Total	$	36,117		100	%	$	34,449		100	%	$	35,239		100	%	$	35,796		100	%	$	33,510		100	%

Fixed Maturity Securities - Contractual Maturity Dates:

Due in one year or less	$	1,311		3	%	$	1,254		3	%	$	1,298		3	%	$	1,372		3	%	$	1,426		3	%
Due after one year through five years		8,238		17			8,022		18			8,112		18			8,205		18			8,115		18
Due after five years through ten years		11,895		26			11,427		25			11,851		26			12,114		26			11,368		26
Due after ten years		21,519		45			20,135		44			20,317		43			20,527		43			18,460		43

Subtotal		42,963		91			40,838		90			41,578		90			42,218		90			39,369		90
Mortgage and asset-backed securities		4,379		9			4,395		10			4,487		10			4,563		10			4,599		10

Total fixed maturity securities	$	47,342		100	%	$	45,233		100	%	$	46,065		100	%	$	46,781		100	%	$	43,968		100	%

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

U.S. GAAP Net Investment Income Yields

(amounts in millions)


	2024												2023
	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
U.S. GAAP Net Investment Income
Fixed maturity securities - taxable	$	557		$	571		$	554		$	1,682		$	557		$	559		$	567		$	561		$	2,244
Fixed maturity securities - non-taxable		—			—			1			1			—			1			1			1			3
Equity securities		3			3			2			8			5			1			3			2			11
Commercial mortgage loans		74			75			75			224			75			76			75			76			302
Policy loans		38			56			58			152			57			58			54			55			224
Limited partnerships		36			36			20			92			41			31			17			28			117
Other invested assets		70			67			68			205			72			69			70			68			279
Cash, cash equivalents, restricted cash and short-term investments		24			25			27			76			27			28			22			18			95

Gross investment income before expenses and fees		802			833			805			2,440			834			823			809			809			3,275
Expenses and fees		(25	)		(25	)		(23	)		(73	)		(24	)		(22	)		(24	)		(22	)		(92	)

Net investment income	$	777		$	808		$	782		$	2,367		$	810		$	801		$	785		$	787		$	3,183

Annualized Yields
Fixed maturity securities - taxable		4.6	%		4.7	%		4.5	%		4.6	%		4.5	%		4.5	%		4.5	%		4.4	%		4.5	%
Fixed maturity securities - non-taxable		—	%		—	%		10.8	%		3.8	%		—	%		5.6	%		4.9	%		4.6	%		4.2	%
Equity securities		2.7	%		2.8	%		1.9	%		2.5	%		5.3	%		1.1	%		3.2	%		2.3	%		3.0	%
Commercial mortgage loans		4.5	%		4.5	%		4.4	%		4.5	%		4.4	%		4.5	%		4.4	%		4.4	%		4.4	%
Policy loans		6.5	%		9.8	%		10.5	%		8.9	%		10.2	%		10.3	%		9.8	%		10.3	%		10.2	%
Limited partnerships⁽¹⁾		4.7	%		4.9	%		2.8	%		4.1	%		5.9	%		4.7	%		2.7	%		4.7	%		4.5	%
Other invested assets⁽²⁾		45.5	%		45.6	%		47.7	%		46.2	%		50.1	%		48.3	%		50.7	%		51.6	%		50.5	%
Cash, cash equivalents, restricted cash and short-term investments		4.8	%		5.1	%		5.1	%		4.9	%		5.1	%		5.3	%		4.5	%		4.0	%		4.7	%

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

Net investment income		4.9	%		5.0	%		4.9	%		4.9	%		5.0	%		5.0	%		4.9	%		4.9	%		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. See page 39 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

THIRD QUARTER 2024

Net Investment Gains (Losses)—Detail

(amounts in millions)


	2024												2023
	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	$	(1	)	$	(9	)	$	(17	)	$	(27	)	$	(15	)	$	(5	)	$	(39	)	$	(8	)	$	(67	)
U.S. government, agencies and government-sponsored enterprises		—			3			1			4			(30	)		2			1			1			(26	)
Foreign corporate		(6	)		(7	)		(3	)		(16	)		(5	)		(3	)		1			(3	)		(10	)
Foreign government		2			1			—			3			—			—			—			(1	)		(1	)
Mortgage-backed securities		(2	)		(7	)		(3	)		(12	)		(18	)		(5	)		(2	)		(5	)		(30	)
Asset-backed securities		—			—			—			—			—			—			9			—			9

Total net realized gains (losses) on available-for-sale securities		(7	)		(19	)		(22	)		(48	)		(68	)		(11	)		(30	)		(16	)		(125	)
Net realized gains (losses) on equity securities sold		—			—			—			—			—			—			(1	)		—			(1	)

Total net realized investment gains (losses)		(7	)		(19	)		(22	)		(48	)		(68	)		(11	)		(31	)		(16	)		(126	)

Net change in allowance for credit losses on available-for-sale fixed maturity securities		—			7			—			7			(1	)		(2	)		11			(15	)		(7	)
Write-down of available-for-sale fixed maturity securities		—			—			—			—			—			—			(1	)		—			(1	)
Net unrealized gains (losses) on equity securities still held		22			12			32			66			33			(12	)		21			11			53
Net unrealized gains (losses) on limited partnerships		55			(52	)		43			46			57			14			40			—			111
Commercial mortgage loans		(8	)		(1	)		(2	)		(11	)		(2	)		(1	)		—			(2	)		(5	)
Derivative instruments		10			(8	)		1			3			24			(28	)		(1	)		12			7
Other		(6	)		—			(3	)		(9	)		(5	)		(3	)		—			(1	)		(9	)

Net investment gains (losses), gross		66			(61	)		49			54			38			(43	)		39			(11	)		23
Adjustment for net investment (gains) losses attributable to noncontrolling interests		—			1			1			2			—			—			2			—			2

Net investment gains (losses), net	$	66		$	(60	)	$	50		$	56		$	38		$	(43	)	$	41		$	(11	)	$	25

Reconciliations of Non-GAAP Measures

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Reconciliation of Operating ROE

(amounts in millions)


Twelve Month Rolling Average ROE	Twelve months ended
U.S. GAAP Basis ROE	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Net income available to Genworth Financial, Inc.’s common stockholders for the twelve months ended⁽¹⁾	$	88		$	32		$	93		$	76		$	669
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss)⁽²⁾	$	10,148		$	10,176		$	10,205		$	10,234		$	10,205
U.S. GAAP Basis ROE^(1)/(2)		0.9	%		0.3	%		0.9	%		0.7	%		6.6	%

Operating ROE
Adjusted operating income (loss) for the twelve months ended⁽¹⁾	$	28		$	22		$	(18	)	$	41		$	609
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss)⁽²⁾	$	10,148		$	10,176		$	10,205		$	10,234		$	10,205
Operating ROE^(1)/(2)		0.3	%		0.2	%		(0.2	)%		0.4	%		6.0	%


Quarterly Average ROE	Three months ended
U.S. GAAP Basis ROE	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the period ended⁽³⁾	$	85		$	76		$	139		$	(212	)	$	29
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss)⁽⁴⁾	$	10,164		$	10,123		$	10,068		$	10,156		$	10,299
Annualized U.S. GAAP Quarterly Basis ROE^(3)/(4)		3.3	%		3.0	%		5.5	%		(8.4	)%		1.1	%

Operating ROE
Adjusted operating income (loss) for the period ended⁽³⁾	$	48		$	125		$	85		$	(230	)	$	42
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss)⁽⁴⁾	$	10,164		$	10,123		$	10,068		$	10,156		$	10,299
Annualized Operating Quarterly Basis ROE^(3)/(4)		1.9	%		4.9	%		3.4	%		(9.1	)%		1.6	%

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

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

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

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Reconciliation of Consolidated Expense Ratio

(amounts in millions)


		2024												2023
	GAAP Basis Expense Ratio	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
(A)	Acquisition and operating expenses, net of deferrals	$	259		$	229		$	236		$	724		$	248		$	228		$	226		$	240		$	942
(B)	Premiums	$	874		$	855		$	875		$	2,604		$	904		$	915		$	902		$	915		$	3,636

(A) / (B)	GAAP Basis Expense Ratio		30	%		27	%		27	%		28	%		27	%		25	%		25	%		26	%		26	%

	Adjusted Expense Ratio
	Acquisition and operating expenses, net of deferrals	$	259		$	229		$	236		$	724		$	248		$	228		$	226		$	240		$	942
	Less: Legal settlement (recoveries) expenses⁽¹⁾		—			(24	)		(4	)		(28	)		—			—			1			13			14
	Less: (Gains) losses on early extinguishment of debt⁽²⁾		(2	)		9			(1	)		6			(1	)		—			—			(1	)		(2	)

(C)	Adjusted acquisition and operating expenses, net of deferrals	$	261		$	244		$	241		$	746		$	249		$	228		$	225		$	228		$	930

	Premiums	$	874		$	855		$	875		$	2,604		$	904		$	915		$	902		$	915		$	3,636
	Add: Policy fees and other income		163			167			158			488			159			158			166			163			646

(D)	Adjusted revenues	$	1,037		$	1,022		$	1,033		$	3,092		$	1,063		$	1,073		$	1,068		$	1,078		$	4,282

(C) / (D)	Adjusted expense ratio		25	%		24	%		23	%		24	%		23	%		21	%		21	%		21	%		22	%

Non-GAAP Definition for Adjusted Expense Ratio

The company references the non-GAAP financial measure entitled “adjusted expense ratio” as a measure of its operating performance. The company defines adjusted expense ratio as acquisition and operating expenses, net of deferrals, less certain reinsurance expenses, less legal settlement (recoveries) expenses incurred in the company’s long-term care insurance business, less (gains) losses on early extinguishment of debt divided by the sum of premiums, policy fees and other income. Management believes that the expense ratio analysis enhances understanding of the operating performance of the company. However, the adjusted expense ratio as defined by the company should not be viewed as a substitute for the GAAP basis expense ratio.

⁽¹⁾

Estimated pre-tax class action attorney fees incurred in connection with legal settlements in the company’s long-term care insurance business. These amounts are accrued in the period the court settlement occurs. Amounts in the second and first quarters of 2024 represent net insurance recoveries on legal costs incurred in connection with legal settlements in the company’s long-term care insurance business.

⁽²⁾	(Gains) losses on early extinguishment of debt include the portion attributable to noncontrolling interests of $2 million for the three months ended June 30, 2024. Prior year amounts have been reclassified to conform to the current year presentation.

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

THIRD QUARTER 2024

Reconciliation of Reported Yield to Core Yield


		2024												2023
	(Assets - amounts in billions)	3Q			2Q			1Q			Total			4Q			3Q			2Q			1Q			Total
	Reported - Total Invested Assets and Cash	$	62.6		$	60.3		$	61.0		$	62.6		$	62.0		$	58.7		$	61.0		$	61.6		$	62.0
	Subtract:
	Unrealized gains (losses)		(1.5	)		(3.7	)		(3.1	)		(1.5	)		(2.4	)		(5.8	)		(3.7	)		(3.0	)		(2.4	)

	Adjusted end of period invested assets and cash	$	64.1		$	64.0		$	64.1		$	64.1		$	64.4		$	64.5		$	64.7		$	64.6		$	64.4

(A)	Average Invested Assets and Cash Used in Reported and Core Yield Calculation	$	64.0		$	64.0		$	64.3		$	64.1		$	64.5		$	64.6		$	64.6		$	64.8		$	64.6

	(Income - amounts in millions)

(B)	Reported - Net Investment Income	$	777		$	808		$	782		$	2,367		$	810		$	801		$	785		$	787		$	3,183
	Subtract:
	Bond calls and commercial mortgage loan prepayments		1			1			1			3			—			1			—			2			3
	Other non-core items⁽¹⁾		4			4			2			10			4			1			3			1			9

(C)	Core Net Investment Income	$	772		$	803		$	779		$	2,354		$	806		$	799		$	782		$	784		$	3,171

(B) / (A)	Reported Yield		4.86	%		5.04	%		4.87	%		4.92	%		5.03	%		4.96	%		4.86	%		4.86	%		4.92	%
(C) / (A)	Core Yield		4.82	%		5.02	%		4.85	%		4.89	%		5.00	%		4.95	%		4.84	%		4.84	%		4.91	%

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.