UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 
FORM 8-K

 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
January 26, 2006
Date of Report
(Date of earliest event reported)

 
GENWORTH FINANCIAL, INC.
(Exact name of registrant as specified in its charter)

 
					
Delaware	 	001-32195	 	33-1073076	
(State or other jurisdiction of incorporation or organization)	 	(Commission File Number)	 	(I.R.S. Employer
Identification No.)	

6620 West Broad Street, Richmond, VA	 	23230	
(Address of principal executive offices)	 	(Zip Code)	
 
(804) 281-6000
(Registrant’s telephone number, including area code)
 
N/A
(Former Name or Former Address, if Changed Since Last Report)

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
 
¨   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.
 
On January 26, 2006, Genworth Financial, Inc. issued (1) a press release announcing its financial results for the quarter ended December 31, 2005, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference, and (2) a financial supplement for the quarter ended December 31, 2005, a copy of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
 
The information contained in this Current Report on Form 8-K (including the exhibits) is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information contained in this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.
 
Item 9.01(d). Financial Statements and Exhibits.
 
The following materials are furnished as exhibits to this Current Report on Form 8-K:

Exhibit
Number
	  	Description of Exhibit
	
99.1	  	Press Release dated January 26, 2006.	
		
99.2	  	Financial supplement for the quarter ended December 31, 2005.	
 
2

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 	 	 	 	GENWORTH FINANCIAL, INC.	
				
DATE: January 26, 2006	 	 	 	By:	 	/s/ Richard P. McKenney
	
 	 	 	 	 	 	 	 	Richard P. McKenney
Senior Vice President—Chief Financial Officer	
 
3

Exhibit Index

Exhibit
Number
	  	Description of Exhibit
	
99.1	  	Press Release dated January 26, 2006.	
		
99.2	  	Financial supplement for the quarter ended December 31, 2005.	
 
4
 
Exhibit 99.1

 
Genworth Financial Reports Fourth Quarter 2005 Earnings

 	  	Three months ended December 31,
(Unaudited)
	
 	  	2005
	  	2004
	
(Amounts in millions, except per share) 	  	Total
	  	Per diluted
share
	  	Total
	  	Per diluted
share
	
Net earnings	  	$	307	  	$	0.64	  	$	346	  	$	0.70	
Net operating earnings	  	$	300	  	$	0.62	  	$	254	  	$	0.52	
Weighted average diluted shares	  	 	482.6	  	 	 	  	 	492.4	  	 	 	
 
Richmond, VA (January 26, 2006)—Genworth Financial, Inc. (NYSE: GNW) today reported net earnings for the fourth quarter of 2005 of $307 million, or $0.64 per diluted share. Net earnings for the fourth quarter of 2004 were $346 million, or $0.70 per diluted share. Net earnings for the full year of 2005 were $1,221 million, or $2.52 per diluted share, compared to net earnings of $1,157 million or $2.36 per diluted share for the full year of 2004.
 
Net earnings for the fourth quarter of 2005 included $7 million of after-tax gains. Net earnings for the fourth quarter of 2004 included a $68 million IPO-related net tax benefit and $24 million of after-tax gains.
 
Net operating earnings for the fourth quarter of 2005 were $300 million, or $0.62 per diluted share, compared to net operating earnings of $254 million or $0.52 per diluted share in the fourth quarter of 2004. Net operating earnings for the full year of 2005 were $1,222 million, or $2.52 per diluted share, compared to pro forma net operating earnings of $1,044 million or $2.13 per diluted share for the full year of 2004.
 
Net operating earnings for the fourth quarter of 2005 included a $19 million after-tax, or $.04 per diluted share, increase in net investment income from an adjustment to commercial mortgage loan loss reserves resulting from a change in the process for estimating credit losses.
 
“Genworth’s strong performance of $2.52 per share of net operating earnings in 2005 is a testament to our execution focus and growth strategies,” said Michael D. Fraizer, chairman and chief executive officer. “We have continued to effectively generate and redeploy capital, delivering solid improvement in our operating return on equity.”
 
Recent Highlights
 
 	•	 	Sales in the quarter were highlighted by a 37 percent increase in term life sales, and a doubling of sales for universal life compared to the prior year quarter.	

 	•	 	Income distribution 1 sales in the quarter more than doubled to $201 million in the quarter and benefited from strong sales in the company’s new lifetime withdrawal benefit rider introduced in October.	
 
 	•	 	In Mortgage Insurance, sales of HomeOpeners SM reached nearly $900 million, bringing total year sales to $2.3 Billion.	
 
 	•	 	Genworth last week announced an agreement to acquire Continental Life Insurance Company, a Medicare supplement provider, for approximately $145 million. The transaction will more than double Genworth’s book of Medicare supplement business and enhance the company’s senior market product and distribution position.	
 
 	•	 	In December, Genworth’s board approved a $750 million share repurchase program.	
 
 	•	 	Genworth was added to the S&P 500 index on December 1 st . Concurrently, the General Electric Company (GE) reduced its ownership of Genworth to 18 percent with the sale of 41 million shares.	
 
 	•	 	Samuel D. Marsico was appointed senior vice president and chief risk officer.	
 
2006 Outlook
 
“Genworth remains focused on expanding our three strong growth platforms serving the homeownership, protection and retirement income needs of consumers,” Fraizer said. “We will continue to execute growth, efficiency and capital reallocation strategies in 2006, and reaffirm our 2006 outlook for operating earnings of $2.65 to $2.75 per diluted share. At the same time, we will build our brand across global markets, driving product innovation, distribution expansion and differentiated service.”
 
Segment Results
 
Segment net operating earnings presented below are equivalent to net earnings for all segments except Corporate and Other. All earnings components discussed below are presented on an after-tax basis. For a reconciliation of the Corporate and Other segment net operating earnings to GAAP net earnings, see the disclosure at the end of this release.

Protection
Net operating earnings
(in millions)
	  	Q4 05
	  	Q4 04
	
Life	  	$	79	  	$	67	
Long-term care	  	 	43	  	 	46	
Payment protection	  	 	22	  	 	22	
Group	  	 	8	  	 	5	
 	  			  			
Total Protection	  	$	152	  	$	140	

Sales
(in millions)
	  	Q4 05
	  	Q4 04
	
Life	  	$	64	  	$	39	
Long-term care	  	 	46	  	 	41	
Payment protection	  	 	421	  	 	351	
Group	  	 	69	  	 	66	
 	  			  			
Total Protection	  	$	600	  	$	497	

 

1	Income distribution series products are comprised of the company’s retirement income annuity product and four variable annuity riders that provide similar income features. The term does not include immediate annuities or fixed annuities, which also serve income distribution needs but are reported separately in the company’s financial supplement.	
 
2

Protection Segment earnings increased 9 percent to $152 million, driven by strong growth in life insurance and $6 million of net investment income from the mortgage loan reserve adjustment. Life insurance earnings increased 18 percent from solid in-force growth, favorable mortality and $3 million from the mortgage loan reserve adjustment. Long-term care (LTC) earnings declined 7 percent, as in-force growth was more than offset by lower investment yields, lower deferred expenses, and continued low policy terminations in older blocks. LTC results this quarter included a $7 million favorable reserve adjustment related to benefit elections for a large group case. In the fourth quarter of 2004, LTC earnings benefited from a $7 million reserve release associated with a change in process for recording policy lapses. Payment Protection earnings were flat as solid business growth was offset primarily by investments in new country expansion and $1 million unfavorable foreign exchange. Group earnings were up $3 million from business growth and lower expenses.
 
Term life sales grew 37 percent from the ongoing combination of competitive pricing, distribution expansion and focused customer service. Total universal life sales doubled to $27 million reflecting a three-fold increase in excess deposits and a 16 percent growth in annual deposits from growth in age 50+ and survivorship product offerings. Long-term care sales increased $5 million, primarily from increased coverage elections by group LTC participants. Payment protection experienced growth across all regions as sales grew 20 percent. Group sales were up 5 percent, as higher dental and disability sales offset lower medical product sales.

Retirement Income & Investments (RI&I)
Net operating earnings
(in millions)
	  	Q4 05
	  	Q4 04
	
Spread-based retail	  	$	43	  	$	9	
Fee-based	  	 	14	  	 	16	
Spread-based institutional	  	 	11	  	 	10	
 	  			  			
Total RI&I	  	$	68	  	$	35	

Sales
(in millions)
	  	Q4 05
	  	Q4 04
	
Spread-based retail	  	$	587	  	$	599	
Fee-based	  	 	811	  	 	561	
Spread-based institutional	  	 	531	  	 	796	
 	  			  			
Total RI&I	  	$	1,929	  	$	1,956	
 	  			  			
Assets Under Management (1)	  	$	39,511	  	$	35,953	

(1)	Assets under management represent account values, net of reinsurance, and managed third party assets.	
 
RI&I Segment earnings increased to $68 million. Spread-based retail results of $43 million were driven primarily by business growth and wider interest spreads. Unusual items in both periods impacted earnings for the Spread-based retail business line:
 
The fourth quarter of 2005 included:
 
•	 	$9 million higher earnings from the mortgage loan loss reserve adjustment;	
 
•	 	$6 million higher earnings from mark-to-market impacts for non-qualifying hedges on specific securities; and	
 
•	 	$2 million lower earnings from unfavorable mortality compared to the prior year.	
 
The fourth quarter of 2004 included:
 
•	 	$32 million lower earnings associated with a charge on a closed block of equity indexed annuities;	
 
•	 	$6 million higher earnings from favorable expenses, primarily from an adjustment to guarantee fund assessments; and	
 
•	 	$7 million higher earnings from a release of reserves in our annuity blocks.	
 
3

Fee-based earnings benefited from strong growth in assets under management, but were down $2 million due to favorability in guarantee fund assessments in the prior year totaling $3 million. Spread institutional earnings increased 10 percent.
 
Fee-based sales grew 45 percent, driven by sales of income distribution series products, which more than doubled to $201 million in the quarter. Sales benefited from the new guaranteed minimum withdrawal benefit for life product introduced in the quarter. Fee-based managed asset sales grew 57 percent driven primarily by the expansion of wholesaling support and growth in the advisor platform.
 
Spread-based retail sales were about flat reflecting the challenging interest rate and yield curve environment. Spread-based institutional sales of $531 million in the quarter included Genworth’s first registered notes offering of $300 million.

Mortgage Insurance
Net operating earnings
(in millions)
	  	Q4 05
	  	Q4 04
	
International	  	$	72	  	$	57	
United States	  	 	47	  	 	50	
 	  			  			
Total Mortgage Insurance	  	$	119	  	$	107	

Sales
(in billions)
	  	Q4 05
	  	Q4 04
	
International	  	$	21.9	  	$	15.2	
United States	  	 	6.7	  	 	7.1	
 	  			  			
Total Mortgage Insurance	  	$	28.6	  	$	22.3	

Mortgage Insurance Segment earnings were up 11 percent to $119 million. International mortgage insurance earnings grew 26 percent, driven by revenue growth partially offset by loss seasoning associated with normal aging of the in-force book and higher expenses related to investments in growth markets. International earnings also included $5 million of favorable foreign exchange. International new insurance written (NIW) increased 44 percent from strong account penetration in Australia and Europe as well as $1 billion of favorable foreign exchange.
 
U.S. Mortgage Insurance earnings declined 6 percent to $47 million primarily from higher losses including $7 million related to unusually favorable delinquencies in the prior year period and $3 million higher delinquencies in the current quarter related to areas severely impacted by hurricanes Katrina and Rita. These unfavorable impacts were mostly offset by lower paid claims of $3 million and lower tax expense of $4 million.
 
U.S. flow persistency increased to 68 percent in the fourth quarter versus 59 percent in the third quarter, as higher interest rates slowed refinancing activity. Domestic flow NIW increased 4 percent to $6.6 billion, reflecting continued progress in penetrating new customer segments as well as growing success in HomeOpeners SM product sales. In total, domestic NIW decreased 6 percent as we completed fewer bulk transactions.

Corporate and Other
(in millions)
	  	Q4 05
	 	 	Q4 04
	 	
Net operating loss	  	$	(39	)	 	$	(28	)	

The Corporate and Other Segment net operating loss was $39 million in the current quarter. Losses were higher by $11 million as compared to the prior year primarily from $8 million higher taxes and higher public company costs. These impacts were partially offset by favorable investment income.
 
4

Stockholders’ equity as of December 31, 2005 was $13.3 billion, or $28.26 per share compared with $12.9 billion, or $26.28 per share at December 31, 2004. Stockholders’ equity, excluding accumulated other comprehensive income, as of December 31, 2005 was $11.9 billion or $25.28 per share compared with $11.3 billion, or $22.99 per share at December 31, 2004.
 
Conference Call Information
 
Genworth will conduct a conference call on January 27 from 9 a.m. to 10 a.m. (EST).
 
The conference call will be accessible via telephone and the Internet. This earnings release and the financial supplement are now posted on the company’s website. Investors are encouraged to review all of these materials. The web cast will be available at www.genworth.com. To access the call by telephone, dial 1-800-599-9795 (U.S.) or 1-617-786-2905 (outside the U.S.), access code “Genworth”. A replay of the call will be available from 1 p.m. EST on January 27 through February 3, 2006 at 1-888-286-8010 or 1-617-801-6888 (outside the U.S.), access code 57552239. The call will also be replayed at the company’s website during this same time period.
 
Use of Non-GAAP Measures
 
This press release includes the non-GAAP financial measure entitled “net operating earnings.” The company defines net operating earnings as net earnings from continuing operations, excluding after-tax net realized investment gains and losses (which can fluctuate significantly from period to period), changes in accounting principles and infrequent or unusual non-operating items. There were no infrequent or unusual non-operating items excluded from net operating earnings for the periods presented in this press release other than a $22 million IPO-related tax charge recorded during the second quarter of 2004, a $68 million IPO-related net tax benefit recorded during the fourth quarter of 2004 and a $25 million after-tax gain related to our waiver of contractual rights under an outsourcing services agreement with GE’s global business processing operation, 60% of which was sold in the fourth quarter of 2004.
 
Management believes that analysis of net operating earnings enhances understanding and comparability of performance by highlighting underlying business activity and profitability drivers. However, net operating earnings should not be viewed as a substitute for GAAP net earnings. In addition, the company’s definition of net operating earnings may differ from the definitions used by other companies. The tables at the end of this press release include a reconciliation of net earnings to net operating earnings and to pro forma net operating earnings.
 
Due to the unpredictable nature of the items excluded from the company’s definition of net operating earnings, the company is unable to reconcile its outlook for net operating earnings to net earnings from continuing operations presented in accordance with GAAP.
 
From time to time, the company also references the non-GAAP financial measure entitled “operating return on equity” or “operating ROE.” The company defines operating ROE as net operating earnings divided by average stockholders’ equity, excluding accumulated other comprehensive income (AOCI) in average stockholders’ equity. Management believes that analysis of operating ROE enhances understanding of the efficiency with which the company deploys its capital. However, operating ROE as defined by the company should not be viewed as a substitute for GAAP net earnings divided by average stockholders’ equity. The tables at the end of this press release include a reconciliation of ROE to operating ROE.
 
Due to the unpredictable nature of net earnings and average stockholders’ equity excluding AOCI, the company is unable to reconcile its outlook for operating ROE to GAAP net earnings divided by average stockholders’ equity.
 
From time to time, the company also references the non-GAAP financial measure entitled “expense ratio” as a measure of productivity. The company defines expense ratio as acquisition and operating expenses, net of deferrals, divided by total revenues, excluding the effects of the payment protection business. The payment
 
5

protection business is excluded from this ratio as its expense base is comprised of varying levels of non-deferrable acquisition costs. Management believes that analysis of the expense ratio excluding the payment protection business enhances understanding of the underlying productivity of the company. However, the expense ratio as defined by the company should not be viewed as a substitute for the GAAP expense ratio of acquisition and operating expenses, net of deferrals, divided by total revenues. In addition, the company’s definition of expense ratio may differ from the definitions used by other companies. The tables at the end of this press release include a reconciliation of the company’s GAAP expense ratio to the expense ratio as defined by the company.
 
All net realized investment gains (losses) are reflected in the Corporate and Other segment and are not reflected in the results of any of the company’s other segments. As a result, the segment results contained in this press release are presented on a net operating earnings basis, which is the same as segment net earnings from continuing operations before accounting change under GAAP for all segments, except Corporate and Other segment. For a reconciliation of net operating earnings for Corporate and Other segment to net earnings presented in accordance with GAAP, see the table at the end of this press release. The term “net operating loss” as used in this press release is also a non-GAAP financial measure and has an analogous meaning to “net operating earnings.”
 
Definition of Sales
 
The term “sales” as used in this press release means (1) annualized first-year premiums for term life insurance, long-term care insurance, and group life and health insurance; (2) new and additional premiums/deposits for universal life insurance, spread-based and variable products; (3) new deposits for managed assets; (4) written premiums gross of reinsurance and cancellations for payment protection insurance; and (5) new insurance written for mortgage insurance, which in each case reflects the amount of business the company generated during each period presented. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers annualized first-year premiums, new premiums/deposits, written premiums and new insurance written to be a measure of the company’s operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company’s revenues or profitability during that period. This operating measure enables 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.
 
6

Cautionary Note Regarding Forward-Looking Statements
 
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company’s future business and financial performance. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks, including the following:
 
 	•	 	Risks relating to our businesses , including interest rate fluctuations, downturns and volatility in equity markets, defaults in portfolio securities, downgrades in our financial strength and credit ratings, insufficiency of reserves, legal constraints on dividend distributions by subsidiaries, illiquidity of investments, competition, inability to attract or retain independent sales intermediaries and dedicated sales specialists, defaults by counterparties, foreign exchange rate fluctuations, regulatory restrictions on our operations and changes in applicable laws and regulations, legal or regulatory actions or investigations, political or economic instability, the failure or any compromise of the security of our computer systems and the occurrence of natural or man-made disasters;	
 
 	•	 	Risks relating to our Protection and Retirement Income and Investments segments , including unexpected changes in mortality, morbidity and unemployment rates, accelerated amortization of deferred acquisition costs and present value of future profits, goodwill impairments, medical advances such as genetic mapping research, unexpected changes in persistency rates, increases in statutory reserve requirements, the failure of demand for long-term care insurance to increase as we expect and changes in tax and securities laws;	
 
 	•	 	Risks relating to our Mortgage Insurance segment , including the influence of Fannie Mae, Freddie Mac and a small number of large mortgage lenders and investors, increased regulatory scrutiny of Fannie Mae and Freddie Mac resulting in possible regulatory changes, decreases in the volume of high loan-to-value mortgage originations, increases in mortgage insurance cancellations, increases in the use of simultaneous second mortgages and other alternatives to private mortgage insurance and reductions by lenders in the level of coverage they select, unexpected increases in mortgage insurance default rates or severity of defaults, deterioration in economic conditions, insufficiency of premium rates to compensate us for risks associated with mortgage loans bearing high loan-to-value ratios, increases in the use of captive reinsurance in the mortgage insurance market, changes in the demand for mortgage insurance that could arise as a result of efforts of large mortgage investors, legal or regulatory actions or investigations under applicable laws and regulations, including the Real Estate Settlement Practices Act and the Federal Fair Credit Reporting Act, potential liabilities in connection with contract underwriting services and growth in the European mortgage insurance market that is lower than we expect; and	
 
 	•	 	Risks relating to our separation from GE , including the loss of benefits associated with GE’s brand and reputation, our need to establish our new Genworth brand identity quickly and effectively, the lack of comparability between our financial information for periods before the IPO and for periods after the IPO, the possibility that we will not be able to replace services previously provided by GE on terms that are at least as favorable, the possibility that in certain circumstances we will be obligated to make payments to GE under our tax matters agreement even if our corresponding tax savings either are delayed or never materialize, the possibility that in the event of a change in control of our company we would have insufficient funds to meet accelerated obligations under the tax matters agreement, GE’s control over certain tax matters that could have an impact on us, potential conflicts of interest with GE and GE’s engaging in the same type of business as we do in the future.	
 
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.
 
7

About Genworth Financial
 
Genworth is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 24 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information, visit www.genworth.com .
 
# # #
 
Contact Information:

Investors:	  	Jean Peters, 804.662.2693	
 	  	jean.peters@genworth.com	
		
 	  	Alicia Charity, 804.662.2248	
 	  	alicia.charity@genworth.com	
		
Media:	  	Phil Moeller, 804.662.2534	
 	  	philip.moeller@genworth.com	
 
8

STATEMENT OF EARNINGS INFORMATION
(Amounts in millions, except per share data)
(Unaudited)

 	  	Three months ended
December 31,
	 	
 	  	    2005    
	  	    2004    
	 	
Revenues:	  	 	 	  	 	 	 	
Premiums	  	$	1,531	  	$	1,606	 	
Net investment income	  	 	941	  	 	825	 	
Net realized investment gains (losses)	  	 	11	  	 	(1	)	
Policy fees and other income	  	 	172	  	 	212	 	
 	  			  				
Total revenues	  	 	2,655	  	 	2,642	 	
 	  			  				
Benefits and expenses:	  	 	 	  	 	 	 	
Benefits and other changes in policy reserves	  	 	1,053	  	 	1,129	 	
Interest credited	  	 	374	  	 	344	 	
Acquisition and operating expenses, net of deferrals	  	 	513	  	 	457	 	
Amortization of deferred acquisition costs and intangibles	  	 	176	  	 	234	 	
Interest expense	  	 	80	  	 	63	 	
 	  			  				
Total benefits and expenses	  	 	2,196	  	 	2,227	 	
 	  			  				
Earnings from continuing operations before income taxes and accounting changes	  	 	459	  	 	415	 	
Provision for income taxes	  	 	152	  	 	69	 	
 	  			  				
Net earnings	  	$	307	  	$	346	 	
 	  			  				
Net earnings per common share:	  	 	 	  	 	 	 	
Basic	  	$	0.65	  	$	0.71	 	
 	  			  				
Diluted	  	$	0.64	  	$	0.70	 	
 	  			  				
Weighted-average common shares outstanding:	  	 	 	  	 	 	 	
Basic	  	 	470.9	  	 	489.6	 	
Diluted	  	 	482.6	  	 	492.4	 	
 
9

COMBINED STATEMENT OF EARNINGS INFORMATION
(Amounts in millions, except per share data)
(Unaudited)

 	  	Twelve months ended
December 31,
	
 	  	Historical
	  	Pro forma
	
 	  	2005
	 	 	2004
	  	2004
	
Revenues:	  	 	 	 	 	 	 	  	 	 	
Premiums	  	$	6,297	 	 	$	6,559	  	$	6,388	
Net investment income	  	 	3,536	 	 	 	3,648	  	 	3,160	
Net realized investment gains (losses)	  	 	(2	)	 	 	26	  	 	23	
Policy fees and other income	  	 	673	 	 	 	824	  	 	664	
 	  				 			  			
Total revenues	  	 	10,504	 	 	 	11,057	  	 	10,235	
 	  				 			  			
Benefits and expenses:	  	 	 	 	 	 	 	  	 	 	
Benefits and other changes in policy reserves	  	 	4,205	 	 	 	4,804	  	 	4,340	
Interest credited	  	 	1,425	 	 	 	1,432	  	 	1,319	
Acquisition and operating expenses, net of deferrals	  	 	1,989	 	 	 	1,902	  	 	1,747	
Amortization of deferred acquisition costs and intangibles	  	 	794	 	 	 	1,064	  	 	962	
Interest expense	  	 	293	 	 	 	217	  	 	243	
 	  				 			  			
Total benefits and expenses	  	 	8,706	 	 	 	9,419	  	 	8,611	
 	  				 			  			
Earnings from continuing operations before income taxes and accounting changes	  	 	1,798	 	 	 	1,638	  	 	1,624	
Provision for income taxes	  	 	577	 	 	 	493	  	 	494	
 	  				 			  			
Net earnings from continuing operations before accounting changes	  	 	1,221	 	 	 	1,145	  	$	1,130	
 	  	 	 	 	 	 	 	  			
Gain on sale of discontinued operations, net of taxes	  	 	—  	 	 	 	7	  	 	 	
 	  				 			  	 	 	
Net earnings before accounting change	  	 	1,221	 	 	 	1,152	  	 	 	
Cumulative effect of accounting changes, net of taxes	  	 	—  	 	 	 	5	  	 	 	
 	  				 			  	 	 	
Net earnings	  	$	1,221	 	 	$	1,157	  	 	 	
 	  				 			  	 	 	
Net earnings per common share:	  	 	 	 	 	 	 	  	 	 	
Basic	  	$	2.57	 	 	$	2.36	  	 	 	
 	  				 			  	 	 	
Diluted	  	$	2.52	 	 	$	2.36	  	 	 	
 	  				 			  	 	 	
Weighted-average common shares outstanding:	  	 	 	 	 	 	 	  	 	 	
Basic	  	 	475.3	 	 	 	489.5	  	 	 	
Diluted	  	 	484.6	 	 	 	490.5	  	 	 	
 
10

Reconciliation of Net Earnings to Net Operating Earnings
(Amounts in millions, except per share data)
(Unaudited)

 	  	Three months ended
December 31,
	 	 	Twelve months
ended December 31,
	 	
 	  	    2005    
	 	 	    2004    
	 	 	    2005    
	  	    2004    
	 	
Net earnings	  	$	307	 	 	$	346	 	 	$	1,221	  	$	1,157	 	
Gain on sale of discontinued operations, net of taxes	  	 	—  	 	 	 	—  	 	 	 	—  	  	 	(7	)	
Cumulative effect of accounting change, net of taxes	  	 	—  	 	 	 	—  	 	 	 	—  	  	 	(5	)	
 	  				 				 			  				
Net earnings from continuing operations before accounting change	  	 	307	 	 	 	346	 	 	 	1,221	  	 	1,145	 	
Net realized investment losses (gains), net of taxes	  	 	(7	)	 	 	1	 	 	 	1	  	 	(16	)	
Net tax benefit related to initial public offering	  	 	—  	 	 	 	(68	)	 	 	—  	  	 	(46	)	
Gain on outsourcing service agreement, net of taxes	  	 	—  	 	 	 	(25	)	 	 	—  	  	 	(25	)	
 	  				 				 			  				
Net operating earnings	  	$	300	 	 	$	254	 	 	$	1,222	  	$	1,058	 	
 	  				 				 			  				
Net earnings from continuing operations before accounting change	  	 	 	 	 	 	 	 	 	 	 	  	$	1,145	 	
Excluded assets and liabilities (a)	  	 	 	 	 	 	 	 	 	 	 	  	 	7	 	
Reinsurance transactions (b)	  	 	 	 	 	 	 	 	 	 	 	  	 	(4	)	
Capital structure and other (c)	  	 	 	 	 	 	 	 	 	 	 	  	 	(18	)	
 	  	 	 	 	 	 	 	 	 	 	 	  				
Pro forma net earnings from continuing operations	  	 	 	 	 	 	 	 	 	 	 	  	 	1,130	 	
Net realized investment gains, net of taxes	  	 	 	 	 	 	 	 	 	 	 	  	 	(15	)	
Net tax expense related to initial public offering	  	 	 	 	 	 	 	 	 	 	 	  	 	(46	)	
Gain on outsourcing service agreement, net of taxes	  	 	 	 	 	 	 	 	 	 	 	  	 	(25	)	
 	  	 	 	 	 	 	 	 	 	 	 	  				
Pro forma net operating earnings	  	 	 	 	 	 	 	 	 	 	 	  	$	1,044	 	
 	  	 	 	 	 	 	 	 	 	 	 	  				
Net earnings per common share:	  	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Basic	  	$	0.65	 	 	$	0.71	 	 	$	2.57	  	$	2.36	 	
 	  				 				 			  				
Diluted	  	$	0.64	 	 	$	0.70	 	 	$	2.52	  	$	2.36	 	
 	  				 				 			  				
Net earnings from continuing operations before accounting change per common share:	  	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Basic	  	$	0.65	 	 	$	0.71	 	 	$	2.57	  	$	2.34	 	
 	  				 				 			  				
Diluted	  	$	0.64	 	 	$	0.70	 	 	$	2.52	  	$	2.33	 	
 	  				 				 			  				
Net operating earnings per common share:	  	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Basic	  	$	0.64	 	 	$	0.52	 	 	$	2.57	  	$	2.16	 	
 	  				 				 			  				
Diluted	  	$	0.62	 	 	$	0.52	 	 	$	2.52	  	$	2.16	 	
 	  				 				 			  				
Pro forma net earnings from continuing operations per common share:	  	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Basic	  	 	 	 	 	 	 	 	 	 	 	  	$	2.31	 	
 	  	 	 	 	 	 	 	 	 	 	 	  				
Diluted	  	 	 	 	 	 	 	 	 	 	 	  	$	2.30	 	
 	  	 	 	 	 	 	 	 	 	 	 	  				
Pro forma net operating earnings per common share:	  	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Basic	  	 	 	 	 	 	 	 	 	 	 	  	$	2.13	 	
 	  	 	 	 	 	 	 	 	 	 	 	  				
Diluted	  	 	 	 	 	 	 	 	 	 	 	  	$	2.13	 	
 	  	 	 	 	 	 	 	 	 	 	 	  				
Weighted-average common shares outstanding:	  	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Basic	  	 	470.9	 	 	 	489.6	 	 	 	475.3	  	 	489.5	 	
 	  				 				 			  				
Diluted	  	 	482.6	 	 	 	492.4	 	 	 	484.6	  	 	490.5	 	

Note:	For a discussion of notes (a), (b), and (c) to these tables see Notes to Pro Forma Financial Information and Reconciliation Tables.	
 
11

RECONCILIATION OF CORPORATE AND OTHER SEGMENT NET EARNINGS (LOSS) TO PRO FORMA NET OPERATING LOSS
(Amounts in millions)
(Unaudited)

 	  	Three months ended
December 31,
	 	 	Twelve months
ended December 31,
	 	
 	  	    2005    
	 	 	    2004    
	 	 	    2005    
	 	 	    2004    
	 	
Segment net earnings (loss)	  	$	(32	)	 	$	64	 	 	$	(101	)	 	$	52	 	
Excluded assets and liabilities (a)	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(7	)	
Reinsurance transactions (b)	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	2	 	
Capital structure and other (c)	  	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(18	)	
 	  				 				 				 				
Pro forma segment net earnings (loss)	  	 	(32	)	 	 	64	 	 	 	(101	)	 	 	29	 	
 	  				 				 				 				
Pro forma net realized (gains) losses on investments, net of taxes	  	 	(7	)	 	 	1	 	 	 	1	 	 	 	(15	)	
Net tax benefit related to initial public offering	  	 	—  	 	 	 	(68	)	 	 	—  	 	 	 	(46	)	
Gain on outsourcing services agreement, net of taxes	  	 	—  	 	 	 	(25	)	 	 	—  	 	 	 	(25	)	
 	  				 				 				 				
Pro forma net operating loss	  	$	(39	)	 	$	(28	)	 	$	(100	)	 	$	(57	)	

Note:	For a discussion of notes (a), (b), and (c) to these tables see Notes to Pro Forma Financial Information and Reconciliation Tables.	
 
12

PRO FORMA FINANCIAL INFORMATION
(Amounts in millions)
(Unaudited)

 	  	Twelve months ended December 31, 2004
	
 	  	Historical
	  	Pro forma
adjustments—
excluded
assets and
liabilities (a)
	 	 	Pro forma
adjustments—
reinsurance
transactions (b)
	 	 	Pro forma
adjustments—
capital structure
and other (c)
	 	 	Pro
forma
	
Revenues:	  	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	  	$	6,559	  	$	(80	)	 	$	(91	)	 	$	—  	 	 	$	6,388	
Net investment income	  	 	3,648	  	 	(28	)	 	 	(460	)	 	 	—  	 	 	 	3,160	
Net realized investment gains (losses)	  	 	26	  	 	(3	)	 	 	—  	 	 	 	—  	 	 	 	23	
Policy fees and other income	  	 	824	  	 	(103	)	 	 	(57	)	 	 	—  	 	 	 	664	
 	  			  				 				 				 			
Total revenues	  	 	11,057	  	 	(214	)	 	 	(608	)	 	 	—  	 	 	 	10,235	
 	  			  				 				 				 			
Benefits and expenses:	  	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	4,804	  	 	(71	)	 	 	(393	)	 	 	—  	 	 	 	4,340	
Interest credited	  	 	1,432	  	 	—  	 	 	 	(113	)	 	 	—  	 	 	 	1,319	
Acquisition and operating expenses, net of deferrals	  	 	1,902	  	 	(117	)	 	 	(38	)	 	 	—  	 	 	 	1,747	
Amortization of deferred acquisition costs and intangibles	  	 	1,064	  	 	(46	)	 	 	(56	)	 	 	—  	 	 	 	962	
Interest expense	  	 	217	  	 	—  	 	 	 	—  	 	 	 	26	 	 	 	243	
 	  			  				 				 				 			
Total benefits and expenses	  	 	9,419	  	 	(234	)	 	 	(600	)	 	 	26	 	 	 	8,611	
 	  			  				 				 				 			
Earnings from continuing operations before income taxes	  	 	1,638	  	 	20	 	 	 	(8	)	 	 	(26	)	 	 	1,624	
Provision for income taxes	  	 	493	  	 	13	 	 	 	(4	)	 	 	(8	)	 	 	494	
 	  			  				 				 				 			
Net earnings from continuing operations	  	$	1,145	  	$	7	 	 	$	(4	)	 	$	(18	)	 	$	1,130	

Note:	For a discussion of notes (a), (b), and (c) to these tables see Notes to Pro Forma Financial Information and Reconciliation Tables.	
 
13

Reconciliation of Operating ROE
(Amounts in millions)
(Unaudited)

 	  	2004
	 	 	2005
	 	
GAAP Basis 	  	 	 	 	 	 	 	 	
Net earnings	  	$	1,157	 	 	$	1,221	 	
Divided by average stockholders’ equity excluding AOCI from below	  	$	12,293	 	 	$	11,436	 	
 	  				 				
ROE	  	 	9.4	%	 	 	10.7	%	
 	  				 				
GAAP Basis, As Adjusted—Operating ROE 	  	 	 	 	 	 	 	 	
2004 pro forma and 2005 net operating earnings (see reconciliation of net earnings chart)	  	$	1,044	 	 	$	1,222	 	
Divided by 2004 average adjusted stockholders’ equity and 2005 average stockholders’ equity excluding AOCI from below	  	$	10,623	 	 	$	11,436	 	
 	  				 				
Operating ROE	  	 	9.8	%	 	 	10.7	%	

For purposes of computing Operating ROE, we use a 5-point quarterly average of Stockholders’ Equity, as shown below.

 	  	12/31/2004
	 	 	3/31/2005
	 	 	6/30/2005
	  	9/30/2005
	  	12/31/2005
	  	2005 Average
	
Total stockholders’ equity, end of period	  	$	12,866	 	 	$	12,520	 	 	$	13,506	  	$	13,328	  	$	13,310	  	 	 	
Less accumulated other comprehensive income (AOCI), end of period	  	 	1,609	 	 	 	1,459	 	 	 	2,164	  	 	1,714	  	 	1,404	  	 	 	
 	  				 				 			  			  			  	 	 	
Total stockholders’ equity excluding AOCI, end of period	  	$	11,257	 	 	$	11,061	 	 	$	11,342	  	$	11,614	  	$	11,906	  	$	11,436	

 	  	12/31/2003
	 	 	3/31/2004
	 	 	6/30/2004
	  	9/30/2004
	  	12/31/2004
	  	2004 Average
	
Total stockholders’ equity, end of period	  	$	15,800	 	 	$	17,425	 	 	$	11,077	  	$	12,186	  	$	12,866	  	 	 	
Less accumulated other comprehensive income (AOCI), end of period	  	 	1,672	 	 	 	2,976	 	 	 	386	  	 	1,246	  	 	1,609	  	 	 	
 	  				 				 			  			  			  	 	 	
Total stockholders’ equity excluding AOCI, end of period	  	 	14,128	 	 	 	14,449	 	 	 	10,691	  	 	10,940	  	 	11,257	  	$	12,293	
Excluded assets and liabilities (a)	  	 	673	 	 	 	685	 	 	 	—  	  	 	—  	  	 	—  	  	 	 	
Reinsurance transactions (b)	  	 	(1,434	)	 	 	(1,422	)	 	 	—  	  	 	—  	  	 	—  	  	 	 	
Capital structure and other (c)	  	 	(3,411	)	 	 	(3,441	)	 	 	—  	  	 	—  	  	 	—  	  	 	 	
 	  				 				 			  			  			  	 	 	
Adjusted Stockholders’ Equity	  	$	9,956	 	 	$	10,271	 	 	$	10,691	  	$	10,940	  	$	11,257	  	$	10,623	

Note:	For a discussion of notes (a), (b), and (c) to these tables see Notes to Pro Forma Financial Information and Reconciliation Tables.	
 
14

Reconciliation of Expense Ratio
(Amounts in millions)
(Unaudited)

 	  	For the year ended December 31,
	 	
 	  	    2005
	 	 	    2004    
	 	 	    Pro forma    
2004
	 	
GAAP Basis 	  	 	 	 	 	 	 	 	 	
Acquisition and operating expenses, net of deferrals	  	1,989	 	 	1,902	 	 	1,747	 	
Divided by total revenues	  	10,504	 	 	11,057	 	 	10,235	 	
 	  			 			 			
Expense ratio	  	18.9	%	 	17.2	%	 	17.1	%	
 	  			 			 			
GAAP Basis, As Adjusted—Expense Ratio 	  	 	 	 	 	 	 	 	 	
Acquisition and operating expenses, net of deferrals	  	1,989	 	 	1,902	 	 	1,747	 	
Less payment protection business	  	734	 	 	617	 	 	617	 	
 	  			 			 			
Adjusted acquisition and operating expenses, net of deferrals (1)	  	1,255	 	 	1,285	 	 	1,130	 	
 	  			 			 			
Total revenues	  	10,504	 	 	11,057	 	 	10,235	 	
Less payment protection business	  	1,439	 	 	1,549	 	 	1,549	 	
 	  			 			 			
Adjusted total revenues (2)	  	9,065	 	 	9,508	 	 	8,686	 	
 	  			 			 			
Adjusted expense ratio (1) divided by (2)	  	13.8	%	 	13.5	%	 	13.0	%	

15

Notes to Pro Forma Financial Information and Reconciliation Tables
 
As part of a corporate reorganization effected in connection with the company’s IPO, the company acquired substantially all of the assets and liabilities of GE Financial Assurance Holdings, Inc. (GEFAHI), an indirect subsidiary of GE. The company also acquired certain other insurance businesses that were owned by other GE subsidiaries but managed by members of the company’s management team. In consideration for the assets that the company acquired and the liabilities that the company assumed, the company issued various equity and debt securities to GEFAHI.
 
The company has prepared its historical financial information as if the company had been in existence throughout all relevant periods. The historical financial information through the date of the corporate reorganization (May 24, 2004) includes all businesses that were owned by GEFAHI, including those that were not transferred to the company, as well as the other insurance businesses that the company acquired from other GE subsidiaries in connection with the corporate reorganization. As a result, the company’s historical financial information for periods prior to the corporate reorganization is not comparable to historical financial information for periods ending after that date.
 
• (a) Reflects adjustments to exclude amounts included in the company’s earnings relating to (1) certain businesses (formerly reported in the company’s Affinity Segment) and certain investment partnerships, which in each case were not transferred to the company, and (2) net realized investment (gains) losses and related tax benefit arising from sales of Affinity segment assets that were reflected in the company’s Corporate and Other Segment.
 
In addition, related to the statement of financial position as of December 31, 2003, reflects adjustments to exclude $1,691 million of commercial paper and all related impacts of derivative contracts hedging the commercial paper cash flows, $548 million of short-term borrowings from GE Capital and intercompany balances that were not transferred to the company.
 
• (b) Reflects adjustments to record the effects of the reinsurance transactions the company entered into with, and the related contribution the company made to, UFLIC, an indirect subsidiary of GE. As part of these transactions, the company ceded to UFLIC all of its in-force structured settlement contracts, substantially all of its in-force variable annuity contracts, and a block of long-term care insurance policies that it reinsured from Travelers in 2000, and it assumed from UFLIC a block of Medicare supplement insurance, all effective as of January 1, 2004.
 
The unaudited pro forma earnings information for 2004 gives effect to the reinsurance transactions as if each had occurred as of January 1, 2004 and excludes the effects of all ceded reinsured contracts that were issued before January 1, 2004. The company has continued to sell variable annuities and structured settlements after completion of the reinsurance transactions and is retaining that business for its own account, subject to third party reinsurance in the ordinary course of business. The company’s pro forma combined statements of earnings for the year ended December 31, 2004 exclude the impact of the entire block of long-term care insurance policies that the company ceded to UFLIC as the company did not issue any new policies for this block in 2004, and the company will not issue any in the future.
 
Under the reinsurance transactions, the company receives an expense allowance to reimburse it for costs it incurs to service the reinsured blocks. Actual costs and expense allowance amounts will be determined by expense studies to be conducted periodically. The pro forma adjustments have been prepared assuming that actual costs incurred during the pro forma periods, as determined under the company’s historical cost structure and allocation methods, were reimbursed by an expense allowance.
 
Concurrently with the reinsurance transactions, the company contributed $1.836 billion of capital to UFLIC, which primarily represented the excess statutory capital in the company’s insurance subsidiaries after giving
 
16

effect to the reinsurance transactions. As a significant portion of the assets transferred and contributed were not owned for the entire period, the pro forma adjustments to reduce net investment income and net realized investment gains were based upon a proportional allocation of investment income from the investment assets historically identified as (1) supporting the blocks of business reinsured for the reinsurance, and (2) as representing surplus of subsidiaries providing assets that were contributed to UFLIC.
 
• (c) Reflects adjustments for changes in the company’s capitalization to exclude the impact of commercial paper, short-term borrowings from GE Capital and derivatives that were not transferred to the company in connection with the corporate reorganization and to include the impact of the issuance of $600 million of the company’s 6.00% Equity Units and $100 million of the company’s 5.25% mandatory redeemable Series A Cumulative Preferred Stock, both of which were completed on May 28, 2004, the issuance of 3, 5, 10 and 30 year notes totaling $1.9 billion which was completed June 15, 2004, and the issuance of $500 million of commercial paper which was completed June 14, 2004, as well as interest expense related to the accretion of the company’s obligation to GE under the Tax Matters Agreement and the tax impacts resulting from these changes in the company’s capitalization.
 
17
 
Table of Contents
Exhibit 99.2

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT

Table of Contents
	  	Page
	
 Investor Letter	  	3	
 Basis of Financial Information	  	4 & 5	
 Financial Highlights	  	6	
 Reconciliation of Net Earnings to Net Operating Earnings	  	7	
 Notes to Pro Forma Financial Information	  	8	
		
Fourth Quarter Results—Three and twelve months ended December 31, 2005 as compared to three and twelve months ended December 31, 2004	  	 	
 QTD Financial Highlights	  	10	
 YTD Financial Highlights	  	11	
 QTD Earnings From Continuing Operations	  	12	
 YTD Earnings From Continuing Operations	  	13	
 Statement of Financial Position	  	14	
		
Fourth Quarter Results by Segment—Three and twelve months ended December 31, 2005 as compared to three and twelve months ended December 31, 2004	  	 	
Operating Results	  	 	
 QTD Statement of Earnings by Segment	  	16	
 YTD Statement of Earnings by Segment	  	17	
		
Net Earnings by Segment	  	 	
 QTD Segment Net Earnings—Protection	  	18	
 YTD Segment Net Earnings—Protection	  	19	
 QTD Segment Net Earnings—Retirement Income and Investments	  	20	
 YTD Segment Net Earnings—Retirement Income and Investments	  	21	
 QTD Segment Net Earnings—Mortgage Insurance	  	22	
 YTD Segment Net Earnings—Mortgage Insurance	  	23	
 QTD Segment Net Earnings—Corporate and Other	  	24	
 YTD Segment Net Earnings—Corporate and Other	  	25	
		
Earnings Trends	  	 	
 Net Earnings	  	26	
 Segment Net Earnings—Protection	  	27	
 Segment Net Earnings—Retirement Income and Investments	  	28	
 Segment Net Earnings—Mortgage Insurance	  	29	
 Segment Net Earnings—Corporate and Other	  	30	
 Segment Net Earnings—Affinity	  	31	
		
Statistical Data	  	 	
 Investments Summary	  	33	
 Fixed Maturities Summary	  	34	
 Commercial Mortgage Loans Data	  	35	
 General Account GAAP Net Investment Income Yields	  	36	
 Deferred Acquisition Costs	  	37	
 Assets Under Management—Retirement Income and Investments	  	38	
 Assets Under Management by Contract Type—Retirement Income and Investments	  	40	
 Segment Sales	  	41 & 42	
 Selected Key Performance Measures—Mortgage Insurance	  	43 & 44	
		
Fourth Quarter Results—Twelve months ended December 31, 2005 as compared to pro forma twelve months ended December 31, 2004	  	 	
 YTD Financial Highlights	  	46	
 YTD Earnings From Continuing Operations	  	47	

Table of Contents

Table of Contents
	  	Page
	
Fourth Quarter Results by Segment—Twelve months ended December 31, 2005 as compared to pro forma twelve months ended December 31, 2004	  	 	
Operating Results	  	 	
 YTD Statement of Earnings by Segment	  	49	
		
Net Earnings by Segment	  	 	
 YTD Segment Net Earnings—Protection	  	50	
 YTD Segment Net Earnings—Retirement Income and Investments	  	51	
 YTD Segment Net Earnings—Mortgage Insurance	  	52	
 YTD Segment Net Earnings—Corporate and Other	  	53	
		
Earnings Trends	  	 	
 Net Earnings	  	54	
 Segment Net Earnings—Protection	  	55	
 Segment Net Earnings—Retirement Income and Investments	  	56	
 Segment Net Earnings—Mortgage Insurance	  	57	
 Segment Net Earnings—Corporate and Other	  	58	
		
Corporate Information	  	 	
 Industry Ratings	  	60 & 61	
 
2

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Dear Investor,
 
In conjunction with the release of Genworth’s fourth quarter results for 2005, we have prepared this financial supplement to assist investors in understanding Genworth’s financial results.
 
This supplement compares current period results to earnings and other financial information from the fourth quarter of 2004 including pro forma earnings for the twelve months ended December 31, 2004. The pro forma financial information that is presented reflects the effect of the company’s corporate reorganization and the other transactions effected in connection with our initial public offering, completed in May, 2004.
 
Additional detail on the basis of financial information is provided on page 4 of this supplement.
 
Please feel free to call if you have any additional questions.
 
Regards,
 
Jean Peters
Senior Vice President
Investor Relations and Corporate Communications
804-662-2693
 
Alicia Charity
Vice President
Investor Relations
804-662-2248
 
3

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Basis of Financial Information
 
As part of a corporate reorganization effected in connection with the company’s IPO in 2004, the company acquired substantially all of the assets and liabilities of GE Financial Assurance Holdings, Inc. (GEFAHI), an indirect subsidiary of the General Electric Company (“GE”). The company also acquired certain other insurance businesses that were owned by other GE subsidiaries but managed by members of the company’s management team. In consideration for the assets that the company acquired and the liabilities that the company assumed, the company issued various equity and debt securities to GEFAHI.
 
The company has prepared its financial information as if the company had been in existence throughout all relevant periods. The financial information through the date of the corporate reorganization (May 24, 2004) includes all businesses that were owned by GEFAHI, including those that were not transferred to the company, as well as the other insurance businesses that the company acquired from other GE subsidiaries in connection with the corporate reorganization. As a result, the company’s financial information for periods prior to the corporate reorganization is not comparable to financial information for periods ending after that date.
 
Prior to the completion of the IPO, the company entered into several significant reinsurance transactions with Union Fidelity Life Insurance Company (UFLIC), an indirect subsidiary of GE. As part of these transactions, the company ceded to UFLIC, effective as of January 1, 2004, policy obligations under all of its in-force structured settlement contracts, which had reserves of $12.0 billion, and substantially all of its in-force variable annuity contracts, which had general account reserves of $2.8 billion and separate account reserves of $7.9 billion, each as of December 31, 2003. These contracts represent substantially all of the company’s contracts that were in force as of December 31, 2003 for these products. In addition, effective as of January 1, 2004, the company ceded to UFLIC policy obligations under a block of long-term care insurance policies, which had reserves of $1.5 billion as of December 31, 2003. As part of the reinsurance transactions, UFLIC ceded to the company in-force blocks of Medicare supplement insurance, which had reserves of $19 million.
 
The unaudited pro forma financial information for the twelve month period ended December 31, 2004 contained in this financial supplement reflects the company’s financial information as adjusted to give effect to the transactions described below and certain other transactions as if each had occurred as of January 1, 2004. There were no pro forma adjustments for the three month period ended December 31, 2004. The following transactions are reflected in the unaudited pro forma financial information:
 
 	•	 	the removal of certain businesses of GEFAHI that were not transferred to the company in connection with the corporate reorganization;	
 
 	•	 	the reinsurance transactions with UFLIC;	
 
 	•	 	the issuance of equity and debt securities to GEFAHI in exchange for the assets that the company acquired and the liabilities that the company assumed in connection with the corporate reorganization; and	
 
 	•	 	the issuance and sale of $1.9 billion of senior notes and $500 million of commercial paper and the application of the proceeds there from.	
 
The unaudited pro forma financial information is based upon available information and assumptions that the company believes are reasonable. The unaudited pro forma financial information is for illustrative and informational purposes only and is not intended to represent or be indicative of what the company’s financial condition or results of operations would have been had the transactions described above occurred on the dates indicated, nor what they may be in the future.
 
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Use of Non-GAAP Measures
 
This financial supplement includes the non-GAAP financial measure entitled “net operating earnings.” The company defines net operating earnings as net earnings from continuing operations, excluding after-tax net realized investment gains and losses (which can fluctuate significantly from period to period), changes in accounting principles and infrequent or unusual non-operating items. There were no infrequent or unusual non-operating items excluded from net operating earnings for the periods presented in this financial supplement other than a $22 million IPO-related tax charge recorded during the second quarter of 2004, a $68 million IPO-related net tax benefit recorded during the fourth quarter of 2004 and a $25 million after-tax gain related to our waiver of contractual rights under an outsourcing services agreement with GE’s global outsourcing provider, 60% of which was sold in the fourth quarter of 2004.
 
Management believes that analysis of net operating earnings enhances understanding and comparability of performance by highlighting underlying business activity and profitability drivers. However, net operating earnings should not be viewed as a substitute for GAAP net earnings. In addition, the company’s definition of net operating earnings may differ from the definitions used by other companies. The table on page 7 of this report provides a reconciliation of net earnings to net operating earnings (as defined above) for the three and twelve months ended December 31, 2005 and 2004 and to pro forma net operating earnings for the twelve months ended December 31, 2004.
 
All net realized investment gains (losses) are reflected in the Corporate and Other Segment and are not reflected in the results of any of the company’s other segments. As a result, the segment results contained in this financial supplement are presented on a net operating earnings basis, which is the same as net earnings from continuing operations before accounting change under GAAP for all segments, except for the Corporate and Other Segment. For a reconciliation of Corporate and Other segment net earnings to segment net operating earnings for the three and twelve months ended December 31, 2005 and 2004, and to pro forma segment net operating earnings for the twelve months ended December 31, 2004, presented in accordance with GAAP, see the tables on page 46 in this report. The term “net operating loss” as used in this report is also a non-GAAP financial measure and has an analogous meaning to “net operating earnings.”
 
Definition of Sales
 
The term “sales” as used in this financial supplement means (1) annualized first-year premiums for term life insurance, long-term care insurance, and group life and health insurance; (2) new and additional premiums/deposits for universal life insurance, spread-based and variable products; (3) new deposits for managed assets; (4) written premiums gross of reinsurance and cancellations for payment protection insurance; and (5) new insurance written for mortgage insurance, which in each case reflects the amount of business the company generated during each period presented. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers annualized first-year premiums, new premiums/deposits, written premiums and new insurance written to be a measure of the company’s operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company’s revenues or profitability during that period. This operating measure enables the company to compare its operating performance across periods without regard to revenues or profitability related to policies or contracts sold in prior periods or from investments or other sources.
 
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Financial Highlights
(amounts in millions, except per share data)

Balance Sheet Data
	  	December 31, 2005
	  	December 31, 2004
	
Total stockholders’ equity, excluding accumulated other comprehensive income	  	$	11,906	  	$	11,257	
Total accumulated other comprehensive income	  	 	1,404	  	 	1,609	
 	  			  			
Total stockholders’ equity	  	$	13,310	  	$	12,866	
 	  			  			
Book value per common share	  	$	28.26	  	$	26.28	
Book value per common share, excluding accumulated other comprehensive income	  	$	25.28	  	$	22.99	
Common shares outstanding as of balance sheet date	  	 	470.9	  	 	489.6	
			
Basic and Diluted Shares
	  	Three months ended
December 31, 2005
	  	Twelve months ended
December 31, 2005
	
Weighted-average shares used in basic earnings per common share calculations	  	 	470.9	  	 	475.3	
Dilutive securities:	  	 	 	  	 	 	
Stock purchase contracts underlying equity units	  	 	7.1	  	 	5.5	
Stock options, restricted stock units and stock appreciation rights	  	 	4.6	  	 	3.8	
 	  			  			
Weighted-average shares used in diluted earnings per common share calculations	  	 	482.6	  	 	484.6	

Stock Purchase Contracts Underlying Equity Units
 
For more information on our Equity Units, see note 14 (d) in our audited financial statements filed on Form 10-K for the year ended December 31, 2004.

Dilutive Effect of Stock Purchase Contracts Underlying Equity Units
	  	Average market price
	  	Incremental
shares (a)
	
 	  	$	30.00	  	5.4	
 	  	$	31.00	  	6.1	
 	  	$	32.00	  	6.7	
 	  	$	33.00	  	7.2	
 	  	$	34.00	  	7.8	
 	  	$	35.00	  	8.3	
 	  	$	36.00	  	8.8	
 	  	$	37.00	  	9.2	
 	  	$	38.00	  	9.6	
 	  	$	39.00	  	10.0	
 	  	$	40.00	  	10.4	

(a)	Incremental shares are calculated using the treasury stock method.	
 
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Reconciliation of Net Earnings to Net Operating Earnings
(amounts in millions, except per share data)

 	 	Three months ended
December 31,
	 	 	Twelve months ended
December 31,
	 	
 	 	   2005   
	 	 	   2004   
	 	 	   2005   
	 	   2004   
	 	
Net earnings	 	$	307	 	 	$	346	 	 	$	1,221	 	$	1,157	 	
Gain on sale of discontinued operations, net of taxes	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	(7	)	
Cumulative effect of accounting change, net of taxes	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	(5	)	
 	 				 				 			 				
Net earnings from continuing operations before accounting change	 	 	307	 	 	 	346	 	 	 	1,221	 	 	1,145	 	
Net realized investment losses (gains), net of taxes	 	 	(7	)	 	 	1	 	 	 	1	 	 	(16	)	
Net tax benefit related to initial public offering	 	 	—  	 	 	 	(68	)	 	 	—  	 	 	(46	)	
Gain on outsourcing service agreement, net of taxes	 	 	—  	 	 	 	(25	)	 	 	—  	 	 	(25	)	
 	 				 				 			 				
Net operating earnings	 	$	300	 	 	$	254	 	 	$	1,222	 	$	1,058	 	
 	 				 				 			 				
Net earnings from continuing operations before accounting change	 	 	 	 	 	 	 	 	 	 	 	 	$	1,145	 	
Excluded assets and liabilities (a)	 	 	 	 	 	 	 	 	 	 	 	 	 	7	 	
Reinsurance transactions (b)	 	 	 	 	 	 	 	 	 	 	 	 	 	(4	)	
Capital structure and other (c)	 	 	 	 	 	 	 	 	 	 	 	 	 	(18	)	
 	 	 	 	 	 	 	 	 	 	 	 	 				
Pro forma net earnings from continuing operations	 	 	 	 	 	 	 	 	 	 	 	 	 	1,130	 	
Net realized investment gains, net of taxes	 	 	 	 	 	 	 	 	 	 	 	 	 	(15	)	
Net tax expense related to initial public offering	 	 	 	 	 	 	 	 	 	 	 	 	 	(46	)	
Gain on outsourcing service agreement, net of taxes	 	 	 	 	 	 	 	 	 	 	 	 	 	(25	)	
 	 	 	 	 	 	 	 	 	 	 	 	 				
Pro forma net operating earnings	 	 	 	 	 	 	 	 	 	 	 	 	$	1,044	 	
 	 	 	 	 	 	 	 	 	 	 	 	 				
Net earnings per common share:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Basic	 	$	0.65	 	 	$	0.71	 	 	$	2.57	 	$	2.36	 	
 	 				 				 			 				
Diluted	 	$	0.64	 	 	$	0.70	 	 	$	2.52	 	$	2.36	 	
 	 				 				 			 				
Net earnings from continuing operations before accounting change per common share:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Basic	 	$	0.65	 	 	$	0.71	 	 	$	2.57	 	$	2.34	 	
 	 				 				 			 				
Diluted	 	$	0.64	 	 	$	0.70	 	 	$	2.52	 	$	2.33	 	
 	 				 				 			 				
Net operating earnings per common share:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Basic	 	$	0.64	 	 	$	0.52	 	 	$	2.57	 	$	2.16	 	
 	 				 				 			 				
Diluted	 	$	0.62	 	 	$	0.52	 	 	$	2.52	 	$	2.16	 	
 	 				 				 			 				
Pro forma net earnings from continuing operations per common share:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Basic	 	 	 	 	 	 	 	 	 	 	 	 	$	2.31	 	
 	 	 	 	 	 	 	 	 	 	 	 	 				
Diluted	 	 	 	 	 	 	 	 	 	 	 	 	$	2.30	 	
 	 	 	 	 	 	 	 	 	 	 	 	 				
Pro forma net operating earnings per common share:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Basic	 	 	 	 	 	 	 	 	 	 	 	 	$	2.13	 	
 	 	 	 	 	 	 	 	 	 	 	 	 				
Diluted	 	 	 	 	 	 	 	 	 	 	 	 	$	2.13	 	
 	 	 	 	 	 	 	 	 	 	 	 	 				
Weighted-average common shares outstanding:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Basic	 	 	470.9	 	 	 	489.6	 	 	 	475.3	 	 	489.5	 	
 	 				 				 			 				
Diluted	 	 	482.6	 	 	 	492.4	 	 	 	484.6	 	 	490.5	 	

Note:	For a discussion of notes (a), (b), and (c) to these tables see Notes To Pro Forma Financial Information on page 8.	
 
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4Q 2005 FINANCIAL SUPPLEMENT
 
Notes to Pro Forma Financial Information
 
(a)	Reflects adjustments to exclude amounts included in the company’s earnings relating to (1) certain businesses (formerly reported in the company’s Affinity Segment) and certain investment partnerships, which in each case were not transferred to the company, and (2) net realized investment (gains) losses and related tax benefit arising from sales of Affinity segment assets that were reflected in the company’s Corporate and Other Segment.	
 
(b)	Reflects adjustments to record the effects of the reinsurance transactions the company entered into with, and the related contribution the company made to UFLIC, an indirect subsidiary of GE. As part of these transactions, the company ceded to UFLIC all of its in-force structured settlement contracts, substantially all of its in-force variable annuity contracts, and a block of long-term care insurance policies that it reinsured from Travelers in 2000, and it assumed from UFLIC a block of Medicare supplement insurance, all effective as of January 1, 2004.	
 
The unaudited pro forma earnings information for 2004 gives effect to the reinsurance transactions as if each had occurred as of January 1, 2004 and excludes the effects of all ceded reinsured contracts that were issued before January 1, 2004. The company has continued to sell variable annuities and structured settlements after completion of the reinsurance transactions and is retaining that business for its own account, subject to third party reinsurance in the ordinary course of business. The company’s pro forma statement of earnings for the twelve months ended December 31, 2004 excludes the impact of the entire block of long-term care insurance policies that the company ceded to UFLIC as the company did not issue any new policies for this block in 2004, and the company will not issue any in the future.
 
Under the reinsurance transactions, the company receives an expense allowance to reimburse it for costs it incurs to service the reinsured blocks. Actual costs and expense allowance amounts will be determined by expense studies to be conducted periodically. The pro forma adjustments have been prepared assuming that actual costs incurred during the pro forma periods, as determined under the company’s historical cost structure and allocation methods, were reimbursed by an expense allowance.
 
Concurrently with the reinsurance transactions, the company contributed $1.836 billion of capital to UFLIC, which primarily represented the excess statutory capital in the company’s insurance subsidiaries after giving effect to the reinsurance transactions. As a significant portion of the assets transferred and contributed were not owned for the entire period, the pro forma adjustments to reduce net investment income and net realized investment gains were based upon a proportional allocation of investment income from the investment assets historically identified as (1) supporting the blocks of business reinsured for the reinsurance, and (2) representing surplus of subsidiaries providing assets that were contributed to UFLIC.
 
(c)	Reflects adjustments for changes in the company’s capitalization to exclude the impact of commercial paper, short-term borrowings from GE Capital and derivatives that were not transferred to the company in connection with the corporate reorganization and to include the impact of the issuance of $600 million of the company’s 6.00% Equity Units and $100 million of the company’s 5.25% mandatory redeemable Series A Cumulative Preferred Stock, both of which were completed on May 28, 2004, the issuance of 3, 5, 10 and 30 year notes totaling $1.9 billion which was completed June 15, 2004, and the issuance of $500 million of commercial paper which was completed June 14, 2004, as well as interest expense related to the accretion of the company’s obligation to GE under the Tax Matters Agreement and the tax impacts resulting from these changes in the company’s capitalization.	
 
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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Fourth Quarter Results
 
Three and twelve months ended December 31, 2005 as compared to three and twelve months ended December 31, 2004
 
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4Q 2005 FINANCIAL SUPPLEMENT
 
Financial Highlights
(amounts in millions, except per share data)

 	  	Three months ended December 31,
	 	
EARNINGS BY SEGMENT
	  	2005
	 	 	2004
	 	
Earnings (loss) from continuing operations before income tax	  	 	 	 	 	 	 	 	
Protection	  	$	239	 	 	$	218	 	
Retirement Income and Investments	  	 	98	 	 	 	54	 	
Mortgage Insurance	  	 	163	 	 	 	151	 	
Corporate and Other	  	 	(41	)	 	 	(8	)	
 	  				 				
Earnings (loss) from continuing operations before income taxes	  	$	459	 	 	$	415	 	
 	  				 				
Net earnings (loss) from continuing operations	  	 	 	 	 	 	 	 	
Protection	  	$	152	 	 	$	140	 	
Retirement Income and Investments	  	 	68	 	 	 	35	 	
Mortgage Insurance	  	 	119	 	 	 	107	 	
Corporate and Other	  	 	(32	)	 	 	64	 	
 	  				 				
Net earnings (loss) from continuing operations	  	$	307	 	 	$	346	 	
 	  				 				
Net operating earnings (loss)	  	 	 	 	 	 	 	 	
Protection	  	$	152	 	 	$	140	 	
Retirement Income and Investments	  	 	68	 	 	 	35	 	
Mortgage Insurance	  	 	119	 	 	 	107	 	
Corporate and Other	  	 	(39	)	 	 	(28	)	
 	  				 				
Net operating earnings (loss)	  	$	300	 	 	$	254	 	

 	  	Three months ended December 31,
	 	
EARNINGS PER COMMON SHARE
	  	2005
	 	 	2004
	 	
Net earnings from continuing operations per common share	  	 	 	 	 	 	 	 	
Basic	  	$	0.65	 	 	$	0.71	 	
 	  				 				
Diluted	  	$	0.64	 	 	$	0.70	 	
 	  				 				
Net operating earnings per common share	  	 	 	 	 	 	 	 	
Basic	  	$	0.64	 	 	$	0.52	 	
 	  				 				
Diluted	  	$	0.62	 	 	$	0.52	 	
 	  				 				
Weighted-average common shares outstanding:	  	 	 	 	 	 	 	 	
Basic	  	 	470.9	 	 	 	489.6	 	
 	  				 				
Diluted	  	 	482.6	 	 	 	492.4	 	

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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Financial Highlights
(amounts in millions, except per share data)

 	  	Twelve months ended December 31,
	 	
EARNINGS BY SEGMENT
	  	2005
	 	 	2004
	 	
Earnings (loss) from continuing operations before income taxes and accounting change	  	 	 	 	 	 	 	 	
Protection	  	$	885	 	 	$	834	 	
Retirement Income and Investments	  	 	352	 	 	 	237	 	
Mortgage Insurance	  	 	707	 	 	 	612	 	
Corporate and Other	  	 	(146	)	 	 	(13	)	
Affinity	  	 	—  	 	 	 	(32	)	
 	  				 				
Earnings (loss) from continuing operations before income taxes and accounting change	  	$	1,798	 	 	$	1,638	 	

Net earnings (loss) from continuing operations before accounting change	  	 	 	 	 	 	 	 	
Protection	  	$	568	 	 	$	528	 	
Retirement Income and Investments	  	 	247	 	 	 	153	 	
Mortgage Insurance	  	 	507	 	 	 	426	 	
Corporate and Other	  	 	(101	)	 	 	52	 	
Affinity	  	 	—  	 	 	 	(14	)	
 	  				 				
Net earnings (loss) from continuing operations before accounting change	  	 	1,221	 	 	 	1,145	 	
Gain on sale of discontinued operations, net of taxes	  	 	—  	 	 	 	7	 	
Cumulative effect of accounting changes, net of taxes	  	 	—  	 	 	 	5	 	
 	  				 				
Net earnings (loss) from continuing operations	  	$	1,221	 	 	$	1,157	 	

Net operating earnings (loss)	  	 	 	 	 	 	 	 	
Protection	  	$	568	 	 	$	528	 	
Retirement Income and Investments	  	 	247	 	 	 	153	 	
Mortgage Insurance	  	 	507	 	 	 	426	 	
Corporate and Other	  	 	(100	)	 	 	(35	)	
Affinity	  	 	—  	 	 	 	(14	)	
 	  				 				
Net operating earnings (loss)	  	$	1,222	 	 	$	1,058	 	

 	  	Twelve months ended December 31,
	 	
EARNINGS PER COMMON SHARE
	  	2005
	 	 	2004
	 	
Basic earnings per common share:	  	 	 	 	 	 	 	 	
Net earnings from continuing operations before accounting change	  	$	2.57	 	 	$	2.34	 	
Gain on sale of discontinued operations, net of taxes	  	 	—  	 	 	 	0.01	 	
Cumulative effect of accounting changes, net of taxes	  	 	—  	 	 	 	0.01	 	
 	  				 				
Basic earnings per common share	  	$	2.57	 	 	$	2.36	 	

Diluted earnings per common share:	  	 	 	 	 	 	 	 	
Net earnings from continuing operations before accounting change	  	$	2.52	 	 	$	2.33	 	
Gain on sale of discontinued operations, net of taxes	  	 	—  	 	 	 	0.01	 	
Cumulative effect of accounting changes, net of taxes	  	 	—  	 	 	 	0.01	 	
 	  				 				
Diluted earnings per common share	  	$	2.52	 	 	$	2.36	 	

Net operating earnings per common share	  	 	 	 	 	 	 	 	
Basic	  	$	2.57	 	 	$	2.16	 	
 	  				 				
Diluted	  	$	2.52	 	 	$	2.16	 	

Weighted-average common shares outstanding:	  	 	 	 	 	 	 	 	
Basic	  	 	475.3	 	 	 	489.5	 	
 	  				 				
Diluted	  	 	484.6	 	 	 	490.5	 	

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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Earnings From Continuing Operations
(amounts in millions)

 	  	Three months ended December 31,
	 	
 	  	    2005    
	 	  	    2004    
	 	
REVENUES:	  	 	 	 	  	 	 	 	
Premiums	  	$	1,531	 	  	$	1,606	 	
Net investment income	  	 	941	 	  	 	825	 	
Net realized investment (losses) gains	  	 	11	 	  	 	(1	)	
Policy fees and other income	  	 	172	 	  	 	212	 	
 	  				  				
Total revenues	  	 	2,655	 	  	 	2,642	 	
 	  				  				
BENEFITS AND EXPENSES:	  	 	 	 	  	 	 	 	
Benefits and other changes in policy reserves	  	 	1,053	 	  	 	1,129	 	
Interest credited	  	 	374	 	  	 	344	 	
Acquisition and operating expenses, net of deferrals	  	 	513	 	  	 	457	 	
Amortization of deferred acquisition costs and intangibles	  	 	176	 	  	 	234	 	
Interest expense	  	 	80	 	  	 	63	 	
 	  				  				
Total benefits and expenses	  	 	2,196	 	  	 	2,227	 	
 	  				  				
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND ACCOUNTING CHANGE	  	 	459	 	  	 	415	 	
			
Provision for income taxes	  	 	152	 	  	 	69	 	
Effective tax rate	  	 	33.1	%	  	 	16.6	%	
 	  				  				
NET EARNINGS FROM CONTINUING OPERATIONS BEFORE ACCOUNTING CHANGE	  	$	307	 	  	$	346	 	

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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Earnings From Continuing Operations
(amounts in millions)

 	  	Twelve months ended December 31,
	 	
 	  	     2005     
	 	 	     2004     
	 	
REVENUES:	  	 	 	 	 	 	 	 	
Premiums	  	$	6,297	 	 	$	6,559	 	
Net investment income	  	 	3,536	 	 	 	3,648	 	
Net realized investment (losses) gains	  	 	(2	)	 	 	26	 	
Policy fees and other income	  	 	673	 	 	 	824	 	
 	  				 				
Total revenues	  	 	10,504	 	 	 	11,057	 	
 	  				 				
BENEFITS AND EXPENSES:	  	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	4,205	 	 	 	4,804	 	
Interest credited	  	 	1,425	 	 	 	1,432	 	
Acquisition and operating expenses, net of deferrals	  	 	1,989	 	 	 	1,902	 	
Amortization of deferred acquisition costs and intangibles	  	 	794	 	 	 	1,064	 	
Interest expense	  	 	293	 	 	 	217	 	
 	  				 				
Total benefits and expenses	  	 	8,706	 	 	 	9,419	 	
 	  				 				
EARNINGS FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES AND ACCOUNTING CHANGE	  	 	1,798	 	 	 	1,638	 	
Provision for income taxes	  	 	577	 	 	 	493	 	
Effective tax rate	  	 	32.1	%	 	 	30.1	%	
 	  				 				
NET EARNINGS FROM CONTINUING OPERATIONS BEFORE ACCOUNTING CHANGE	  	$	1,221	 	 	$	1,145	 	

13

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Statement of Financial Position
(amounts in millions)

 	  	December 31, 2005
	 	 	December 31, 2004
	
ASSETS	  	 	 	 	 	 	 	
Investments:	  	 	 	 	 	 	 	
Fixed maturities available-for-sale	  	$	53,791	 	 	$	52,424	
Equity securities available-for-sale	  	 	367	 	 	 	374	
Mortgage loans	  	 	7,558	 	 	 	6,051	
Policy loans	  	 	1,350	 	 	 	1,224	
Short-term investments	  	 	25	 	 	 	247	
Restricted investments held by securitization entities	  	 	685	 	 	 	860	
Other invested assets	  	 	2,772	 	 	 	3,996	
 	  				 			
Total investments	  	 	66,548	 	 	 	65,176	
Cash and cash equivalents	  	 	1,875	 	 	 	1,963	
Accrued investment income	  	 	733	 	 	 	733	
Deferred acquisition costs	  	 	5,586	 	 	 	5,020	
Intangible assets	  	 	782	 	 	 	780	
Goodwill	  	 	1,450	 	 	 	1,465	
Reinsurance recoverables	  	 	18,245	 	 	 	18,535	
Other assets	  	 	967	 	 	 	1,322	
Separate account assets	  	 	9,106	 	 	 	8,884	
 	  				 			
Total assets	  	$	105,292	 	 	$	103,878	
 	  				 			
LIABILITIES AND STOCKHOLDERS’ EQUITY	  	 	 	 	 	 	 	
Liabilities:	  	 	 	 	 	 	 	
Future annuity and contract benefits	  	$	63,749	 	 	$	61,698	
Liability for policy and contract claims	  	 	3,364	 	 	 	3,329	
Unearned premiums	  	 	3,647	 	 	 	3,597	
Other policyholder liabilities	  	 	507	 	 	 	638	
Other liabilities	  	 	4,643	 	 	 	6,792	
Non-recourse funding obligations	  	 	1,400	 	 	 	900	
Short-term borrowings	  	 	152	 	 	 	559	
Long-term borrowings	  	 	2,736	 	 	 	2,442	
Senior notes underlying equity units	  	 	600	 	 	 	600	
Mandatorily redeemable preferred stock	  	 	100	 	 	 	100	
Deferred tax liability	  	 	1,318	 	 	 	624	
Borrowings related to securitization entities	  	 	660	 	 	 	849	
Separate account liabilities	  	 	9,106	 	 	 	8,884	
 	  				 			
Total liabilities	  	 	91,982	 	 	 	91,012	
 	  				 			
Commitments and contingencies	  	 	 	 	 	 	 	
			
Stockholders’ equity	  	 	 	 	 	 	 	
Common stock	  	 	—  	 	 	 	—  	
Additional paid-in capital	  	 	10,671	 	 	 	10,612	
 	  				 			
Accumulated other comprehensive income:	  	 	 	 	 	 	 	
Net unrealized investment gains	  	 	760	 	 	 	1,019	
Derivatives qualifying as hedges	  	 	389	 	 	 	268	
Foreign currency translation adjustments and other	  	 	255	 	 	 	321	
 	  				 			
Total accumulated other comprehensive income	  	 	1,404	 	 	 	1,608	
 	  				 			
Retained earnings	  	 	1,735	 	 	 	646	
Treasury stock, at cost	  	 	(500	)	 	 	—  	
 	  				 			
Total stockholders’ equity	  	 	13,310	 	 	 	12,866	
 	  				 			
Total liabilities and stockholders’ equity	  	$	105,292	 	 	$	103,878	

14

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Fourth Quarter Results by Segment
 
Three and twelve months ended December 31, 2005 as compared to three and twelve months ended December 31, 2004
 
15

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Statement of Earnings by Segment
(amounts in millions)

Three months ended December 31, 2005
	 	Protection
	 	Retirement
Income and
Investments
	 	Mortgage
Insurance
	 	Corporate
and Other
	 	 	Total
	 	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	1,099	 	$	181	 	$	229	 	$	22	    	 	$	1,531	 	
Net investment income	 	 	338	 	 	493	 	 	77	 	 	33	 	 	 	941	 	
Net realized investment gains	 	 	—  	 	 	—  	 	 	—  	 	 	11	 	 	 	11	 	
Policy fees and other income	 	 	93	 	 	63	 	 	11	 	 	5	 	 	 	172	 	
 	 			 			 			 				 				
Total revenues	 	 	1,530	 	 	737	 	 	317	 	 	71	 	 	 	2,655	 	
 	 			 			 			 				 				
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	722	 	 	255	 	 	66	 	 	10	 	 	 	1,053	 	
Interest credited	 	 	98	 	 	276	 	 	—  	 	 	—  	 	 	 	374	 	
Acquisition and operating expenses, net of deferrals	 	 	333	 	 	68	 	 	74	 	 	38	 	 	 	513	 	
Amortization of deferred acquisition costs and intangibles	 	 	119	 	 	39	 	 	14	 	 	4	 	 	 	176	 	
Interest expense	 	 	19	 	 	1	 	 	—  	 	 	60	 	 	 	80	 	
 	 			 			 			 				 				
Total benefits and expenses	 	 	1,291	 	 	639	 	 	154	 	 	112	 	 	 	2,196	 	
 	 			 			 			 				 				
EARNINGS (LOSS) BEFORE INCOME TAXES	 	 	239	 	 	98	 	 	163	 	 	(41	)	 	 	459	 	
Provision for (benefit from) income taxes	 	 	87	 	 	30	 	 	44	 	 	(9	)	 	 	152	 	
 	 			 			 			 				 				
NET EARNINGS (LOSS)	 	 	152	 	 	68	 	 	119	 	 	(32	)	 	 	307	 	
Net realized investment gains, net of taxes	 	 	—  	 	 	—  	 	 	—  	 	 	(7	)	 	 	(7	)	
 	 			 			 			 				 				
NET OPERATING EARNINGS (LOSS)	 	$	152	 	$	68	 	$	119	 	$	(39	)	 	$	300	 	

 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Three months ended December 31, 2004
	 	Protection
	 	Retirement
Income and
Investments
	 	Mortgage
Insurance
	 	Corporate
and Other
	 	 	Total
	 	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	1,094	 	$	277	 	$	213	 	$	22	    	 	$	1,606	 	
Net investment income	 	 	311	 	 	417	 	 	68	 	 	29	 	 	 	825	 	
Net realized investment losses	 	 	—  	 	 	—  	 	 	—  	 	 	(1	)	 	 	(1	)	
Policy fees and other income	 	 	102	 	 	58	 	 	8	 	 	44	 	 	 	212	 	
 	 			 			 			 				 				
Total revenue	 	 	1,507	 	 	752	 	 	289	 	 	94	 	 	 	2,642	 	
 	 			 			 			 				 				
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and changes in policy reserves	 	 	705	 	 	363	 	 	53	 	 	8	 	 	 	1,129	 	
Interest credited	 	 	91	 	 	253	 	 	—  	 	 	—  	 	 	 	344	 	
Acquisition and operating expenses, net of deferrals	 	 	307	 	 	48	 	 	69	 	 	33	 	 	 	457	 	
Amortization of deferred acquisition costs and intangibles	 	 	180	 	 	34	 	 	16	 	 	4	 	 	 	234	 	
Interest expense	 	 	6	 	 	—  	 	 	—  	 	 	57	 	 	 	63	 	
 	 			 			 			 				 				
Total benefits and expenses	 	 	1,289	 	 	698	 	 	138	 	 	102	 	 	 	2,227	 	
 	 			 			 			 				 				
EARNINGS (LOSS) BEFORE INCOME TAXES	 	 	218	 	 	54	 	 	151	 	 	(8	)	 	 	415	 	
Provision for (benefit from) income taxes	 	 	78	 	 	19	 	 	44	 	 	(72	)	 	 	69	 	
 	 			 			 			 				 				
NET EARNINGS	 	 	140	 	 	35	 	 	107	 	 	64	 	 	 	346	 	
 	 			 			 			 				 				
Net realized investment loss, net of taxes	 	 	—  	 	 	—  	 	 	—  	 	 	1	 	 	 	1	 	
Net tax benefit related to initial public offering	 	 	—  	 	 	—  	 	 	—  	 	 	(68	)	 	 	(68	)	
Gain on outsourcing services agreement, net of taxes	 	 	—  	 	 	—  	 	 	—  	 	 	(25	)	 	 	(25	)	
 	 			 			 			 				 				
NET OPERATING EARNINGS (LOSS)	 	$	140	 	$	35	 	$	107	 	$	(28	)	 	$	254	 	

 
16

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Statement of Earnings by Segment
(amounts in millions)

Twelve months ended December 31, 2005
	 	Protection
	 	Retirement
Income and
Investments
	 	Mortgage
Insurance
	 	Corporate
and Other
	 	 	Affinity
	 	 	Total
	 	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	4,476	 	$	855	 	$	882	 	$	84	 	 	$	—  	 	 	$	6,297	 	
Net investment income	 	 	1,284	 	 	1,813	 	 	287	 	 	152	 	 	 	—  	  	 	 	3,536	 	
Net realized investment losses	 	 	—  	 	 	—  	 	 	—  	 	 	(2	)	 	 	—  	 	 	 	(2	)	
Policy fees and other income	 	 	366	 	 	244	 	 	45	 	 	18	 	 	 	—  	 	 	 	673	 	
 	 			 			 			 				 				 				
Total revenues	 	 	6,126	 	 	2,912	 	 	1,214	 	 	252	 	 	 	—  	 	 	 	10,504	 	
 	 			 			 			 				 				 				
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	2,894	 	 	1,111	 	 	162	 	 	38	 	 	 	—  	 	 	 	4,205	 	
Interest credited	 	 	369	 	 	1,056	 	 	—  	 	 	—  	 	 	 	—  	 	 	 	1,425	 	
Acquisition and operating expenses, net of deferrals	 	 	1,337	 	 	259	 	 	289	 	 	104	 	 	 	—  	 	 	 	1,989	 	
Amortization of deferred acquisition costs and intangibles	 	 	589	 	 	131	 	 	56	 	 	18	 	 	 	—  	 	 	 	794	 	
Interest expense	 	 	52	 	 	3	 	 	—  	 	 	238	 	 	 	—  	 	 	 	293	 	
 	 			 			 			 				 				 				
Total benefits and expenses	 	 	5,241	 	 	2,560	 	 	507	 	 	398	 	 	 	—  	 	 	 	8,706	 	
 	 			 			 			 				 				 				
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND ACCOUNTING CHANGE	 	 	885	 	 	352	 	 	707	 	 	(146	)	 	 	—  	 	 	 	1,798	 	
Provision for (benefit from) income taxes	 	 	317	 	 	105	 	 	200	 	 	(45	)	 	 	—  	 	 	 	577	 	
 	 			 			 			 				 				 				
NET EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE ACCOUNTING CHANGE	 	 	568	 	 	247	 	 	507	 	 	(101	)	 	 	—  	 	 	 	1,221	 	
Net realized investment losses, net of taxes	 	 	—  	 	 	—  	 	 	—  	 	 	1	 	 	 	—  	 	 	 	1	 	
 	 			 			 			 				 				 				
NET OPERATING EARNINGS (LOSS)	 	$	568	 	$	247	 	$	507	 	$	(100	)	 	$	—  	 	 	$	1,222	 	

Twelve months ended December 31, 2004
	 	Protection
	 	Retirement
Income and
Investments
	 	Mortgage
Insurance
	 	Corporate
and Other
	 	 	Affinity
	 	 	Total
	 	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	4,481	 	$	1,094	 	$	800	 	$	96	 	 	$	88	 	 	$	6,559	 	
Net investment income	 	 	1,224	 	 	1,996	 	 	254	 	 	148	 	 	 	26	  	 	 	3,648	 	
Net realized investment gains	 	 	—  	 	 	—  	 	 	—  	 	 	26	 	 	 	—  	 	 	 	26	 	
Policy fees and other income	 	 	359	 	 	271	 	 	36	 	 	54	 	 	 	104	 	 	 	824	 	
 	 			 			 			 				 				 				
Total revenue	 	 	6,064	 	 	3,361	 	 	1,090	 	 	324	 	 	 	218	 	 	 	11,057	 	
 	 			 			 			 				 				 				
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and changes in policy reserves	 	 	2,890	 	 	1,633	 	 	165	 	 	36	 	 	 	80	 	 	 	4,804	 	
Interest credited	 	 	362	 	 	1,070	 	 	—  	 	 	—  	 	 	 	—  	 	 	 	1,432	 	
Acquisition and operating expenses, net of deferrals	 	 	1,184	 	 	250	 	 	262	 	 	83	 	 	 	123	 	 	 	1,902	 	
Amortization of deferred acquisition costs and intangibles	 	 	779	 	 	170	 	 	51	 	 	17	 	 	 	47	 	 	 	1,064	 	
Interest expense	 	 	15	 	 	1	 	 	—  	 	 	201	 	 	 	—  	 	 	 	217	 	
 	 			 			 			 				 				 				
Total benefits and expenses	 	 	5,230	 	 	3,124	 	 	478	 	 	337	 	 	 	250	 	 	 	9,419	 	
 	 			 			 			 				 				 				
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND ACCOUNTING CHANGE	 	 	834	 	 	237	 	 	612	 	 	(13	)	 	 	(32	)	 	 	1,638	 	
Provision for (benefit from) income taxes	 	 	306	 	 	84	 	 	186	 	 	(65	)	 	 	(18	)	 	 	493	 	
 	 			 			 			 				 				 				
NET EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE ACCOUNTING CHANGE	 	 	528	 	 	153	 	 	426	 	 	52	 	 	 	(14	)	 	 	1,145	 	
Net realized investment gains, net of taxes	 	 	—  	 	 	—  	 	 	—  	 	 	(16	)	 	 	—  	 	 	 	(16	)	
Net tax benefit related to initial public offering	 	 	—  	 	 	—  	 	 	—  	 	 	(46	)	 	 	—  	 	 	 	(46	)	
Gain on outsourcing services agreement, net of taxes	 	 	 	 	 	 	 	 	 	 	 	(25	)	 	 	 	 	 	 	(25	)	
 	 			 			 			 				 				 				
NET OPERATING EARNINGS (LOSS)	 	$	528	 	$	153	 	$	426	 	$	(35	)	 	$	(14	)	 	$	1,058	 	

17

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Protection
(amounts in millions)

Three months ended December 31, 2005
	  	Life
	  	Long-Term
Care
	  	Payment
Protection
	  	Group Life
and Health
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	207	  	$	429	  	$	297	  	$	166	    	 	$	1,099	
Net investment income	  	 	134	  	 	171	  	 	21	  	 	12	 	 	 	338	
Policy fees and other income	  	 	80	  	 	5	  	 	5	  	 	3	 	 	 	93	
 	  			  			  			  				 			
Total revenues	  	 	421	  	 	605	  	 	323	  	 	181	 	 	 	1,530	
 	  			  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	158	  	 	399	  	 	52	  	 	113	 	 	 	722	
Interest credited	  	 	59	  	 	38	  	 	—  	  	 	1	 	 	 	98	
Acquisition and operating expenses, net of deferrals	  	 	36	  	 	79	  	 	173	  	 	45	 	 	 	333	
Amortization of deferred acquisition costs and intangibles	  	 	26	  	 	22	  	 	61	  	 	10	 	 	 	119	
Interest expense	  	 	19	  	 	—  	  	 	—  	  	 	—  	 	 	 	19	
 	  			  			  			  				 			
Total benefits and expenses	  	 	298	  	 	538	  	 	286	  	 	169	 	 	 	1,291	
 	  			  			  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	123	  	 	67	  	 	37	  	 	12	 	 	 	239	
Provision for income taxes	  	 	44	  	 	24	  	 	15	  	 	4	 	 	 	87	
 	  			  			  			  				 			
SEGMENT NET EARNINGS	  	$	79	  	$	43	  	$	22	  	$	8	 	 	$	152	

 	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Three months ended December 31, 2004
	  	Life
	  	Long-Term
Care
	  	Payment
Protection
	  	Group Life
and Health
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	192	  	$	396	  	$	347	  	$	159	    	 	$	1,094	
Net investment income	  	 	115	  	 	158	  	 	27	  	 	11	 	 	 	311	
Policy fees and other income	  	 	93	  	 	2	  	 	2	  	 	5	 	 	 	102	
 	  			  			  			  				 			
Total revenues	  	 	400	  	 	556	  	 	376	  	 	175	 	 	 	1,507	
 	  			  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	166	  	 	378	  	 	51	  	 	110	 	 	 	705	
Interest credited	  	 	60	  	 	31	  	 	—  	  	 	—  	 	 	 	91	
Acquisition and operating expenses, net of deferrals	  	 	27	  	 	63	  	 	168	  	 	49	 	 	 	307	
Amortization of deferred acquisition costs and intangibles	  	 	37	  	 	13	  	 	121	  	 	9	 	 	 	180	
Interest expense	  	 	6	  	 	—  	  	 	—  	  	 	—  	 	 	 	6	
 	  			  			  			  				 			
Total benefits and expenses	  	 	296	  	 	485	  	 	340	  	 	168	 	 	 	1,289	
 	  			  			  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	104	  	 	71	  	 	36	  	 	7	 	 	 	218	
Provision for income taxes	  	 	37	  	 	25	  	 	14	  	 	2	 	 	 	78	
 	  			  			  			  				 			
SEGMENT NET EARNINGS	  	$	67	  	$	46	  	$	22	  	$	5	 	 	$	140	

 
Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
18

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Protection
(amounts in millions)

Twelve months ended December 31, 2005
	  	Life
	  	Long-Term
Care
	  	Payment
Protection
	  	Group Life
and Health
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	813	  	$	1,680	  	$	1,324	  	$	659	    	 	$	4,476	
Net investment income	  	 	493	  	 	652	  	 	94	  	 	45	 	 	 	1,284	
Policy fees and other income	  	 	317	  	 	15	  	 	21	  	 	13	 	 	 	366	
 	  			  			  			  				 			
Total revenues	  	 	1,623	  	 	2,347	  	 	1,439	  	 	717	 	 	 	6,126	
 	  			  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	663	  	 	1,547	  	 	231	  	 	453	 	 	 	2,894	
Interest credited	  	 	235	  	 	132	  	 	—  	  	 	2	 	 	 	369	
Acquisition and operating expenses, net of deferrals	  	 	134	  	 	298	  	 	734	  	 	171	 	 	 	1,337	
Amortization of deferred acquisition costs and intangibles	  	 	111	  	 	103	  	 	332	  	 	43	 	 	 	589	
Interest expense	  	 	52	  	 	—  	  	 	—  	  	 	—  	 	 	 	52	
 	  			  			  			  				 			
Total benefits and expenses	  	 	1,195	  	 	2,080	  	 	1,297	  	 	669	 	 	 	5,241	
 	  			  			  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	428	  	 	267	  	 	142	  	 	48	 	 	 	885	
Provision for income taxes	  	 	153	  	 	95	  	 	52	  	 	17	 	 	 	317	
 	  			  			  			  				 			
SEGMENT NET EARNINGS	  	$	275	  	$	172	  	$	90	  	$	31	 	 	$	568	

 	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Twelve months ended December 31, 2004
	  	Life
	  	Long-Term
Care
	  	Payment
Protection
	  	Group Life
and Health
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	759	  	$	1,672	  	$	1,427	  	$	623	    	 	$	4,481	
Net investment income	  	 	444	  	 	631	  	 	106	  	 	43	 	 	 	1,224	
Policy fees and other income	  	 	315	  	 	8	  	 	16	  	 	20	 	 	 	359	
 	  			  			  			  				 			
Total revenues	  	 	1,518	  	 	2,311	  	 	1,549	  	 	686	 	 	 	6,064	
 	  			  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	633	  	 	1,565	  	 	263	  	 	429	 	 	 	2,890	
Interest credited	  	 	242	  	 	119	  	 	—  	  	 	1	 	 	 	362	
Acquisition and operating expenses, net of deferrals	  	 	117	  	 	274	  	 	617	  	 	176	 	 	 	1,184	
Amortization of deferred acquisition costs and intangibles	  	 	125	  	 	85	  	 	535	  	 	34	 	 	 	779	
Interest expense	  	 	15	  	 	—  	  	 	—  	  	 	—  	 	 	 	15	
 	  			  			  			  				 			
Total benefits and expenses	  	 	1,132	  	 	2,043	  	 	1,415	  	 	640	 	 	 	5,230	
 	  			  			  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	386	  	 	268	  	 	134	  	 	46	 	 	 	834	
Provision for income taxes	  	 	141	  	 	96	  	 	53	  	 	16	 	 	 	306	
 	  			  			  			  				 			
SEGMENT NET EARNINGS	  	$	245	  	$	172	  	$	81	  	$	30	 	 	$	528	

 
Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
19

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Retirement Income and Investments
(amounts in millions)

Three months ended December 31, 2005
	  	Spread-Based
Retail
Products
	  	Fee-Based
Products
	  	Spread-Based
Institutional
Products
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	181	  	$	—  	  	$	—  	 	 	$	181	
Net investment income	  	 	361	  	 	6	  	 	126	    	 	 	493	
Policy fees and other income	  	 	5	  	 	58	  	 	—  	 	 	 	63	
 	  			  			  				 			
Total revenues	  	 	547	  	 	64	  	 	126	 	 	 	737	
 	  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	255	  	 	—  	  	 	—  	 	 	 	255	
Interest credited	  	 	165	  	 	5	  	 	106	 	 	 	276	
Acquisition and operating expenses, net of deferrals	  	 	28	  	 	36	  	 	4	 	 	 	68	
Amortization of deferred acquisition costs and intangibles	  	 	34	  	 	5	  	 	—  	 	 	 	39	
Interest expense	  	 	1	  	 	—  	  	 	—  	 	 	 	1	
 	  			  			  				 			
Total benefits and expenses	  	 	483	  	 	46	  	 	110	 	 	 	639	
 	  			  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	64	  	 	18	  	 	16	 	 	 	98	
Provision for income taxes	  	 	21	  	 	4	  	 	5	 	 	 	30	
 	  			  			  				 			
SEGMENT NET EARNINGS	  	$	43	  	$	14	  	$	11	 	 	$	68	

 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Three months ended December 31, 2004
	  	Spread-Based
Retail
Products
	  	Fee-Based
Products
	  	Spread-Based
Institutional
Products
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	277	  	$	—  	  	$	—  	 	 	$	277	
Net investment income	  	 	319	  	 	4	  	 	94	    	 	 	417	
Policy fees and other income	  	 	3	  	 	55	  	 	—  	 	 	 	58	
 	  			  			  				 			
Total revenues	  	 	599	  	 	59	  	 	94	 	 	 	752	
 	  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	361	  	 	2	  	 	—  	 	 	 	363	
Interest credited	  	 	173	  	 	3	  	 	77	 	 	 	253	
Acquisition and operating expenses, net of deferrals	  	 	19	  	 	28	  	 	1	 	 	 	48	
Amortization of deferred acquisition costs and intangibles	  	 	27	  	 	7	  	 	—  	 	 	 	34	
Interest expense	  	 	—  	  	 	—  	  	 	—  	 	 	 	—  	
 	  			  			  				 			
Total benefits and expenses	  	 	580	  	 	40	  	 	78	 	 	 	698	
 	  			  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	19	  	 	19	  	 	16	 	 	 	54	
Provision for income taxes	  	 	10	  	 	3	  	 	6	 	 	 	19	
 	  			  			  				 			
SEGMENT NET EARNINGS	  	$	9	  	$	16	  	$	10	 	 	$	35	

 
Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
20

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Retirement Income and Investments
(amounts in millions)

Twelve months ended December 31, 2005
	  	Spread-Based
Retail
Products
	  	Fee-Based
Products
	  	Spread-Based
Institutional
Products
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	855	  	$	—  	  	$	—  	 	 	$	855	
Net investment income	  	 	1,352	  	 	19	  	 	442	    	 	 	1,813	
Policy fees and other income	  	 	17	  	 	227	  	 	—  	 	 	 	244	
 	  			  			  				 			
Total revenues	  	 	2,224	  	 	246	  	 	442	 	 	 	2,912	
 	  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	1,104	  	 	7	  	 	—  	 	 	 	1,111	
Interest credited	  	 	668	  	 	13	  	 	375	 	 	 	1,056	
Acquisition and operating expenses, net of deferrals	  	 	118	  	 	131	  	 	10	 	 	 	259	
Amortization of deferred acquisition costs and intangibles	  	 	114	  	 	17	  	 	—  	 	 	 	131	
Interest expense	  	 	3	  	 	—  	  	 	—  	 	 	 	3	
 	  			  			  				 			
Total benefits and expenses	  	 	2,007	  	 	168	  	 	385	 	 	 	2,560	
 	  			  			  				 			
EARNINGS BEFORE INCOME TAXES AND ACCOUNTING CHANGE	  	 	217	  	 	78	  	 	57	 	 	 	352	
Provision for income taxes	  	 	66	  	 	19	  	 	20	 	 	 	105	
 	  			  			  				 			
SEGMENT NET EARNINGS	  	$	151	  	$	59	  	$	37	 	 	$	247	

 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Twelve months ended December 31, 2004
	  	Spread-Based
Retail
Products
	  	Fee-Based
Products
	  	Spread-Based
Institutional
Products
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	1,094	  	$	—  	  	$	—  	 	 	$	1,094	
Net investment income	  	 	1,604	  	 	60	  	 	332	    	 	 	1,996	
Policy fees and other income	  	 	14	  	 	257	  	 	—  	 	 	 	271	
 	  			  			  				 			
Total revenues	  	 	2,712	  	 	317	  	 	332	 	 	 	3,361	
 	  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	1,613	  	 	20	  	 	—  	 	 	 	1,633	
Interest credited	  	 	748	  	 	41	  	 	281	 	 	 	1,070	
Acquisition and operating expenses, net of deferrals	  	 	114	  	 	132	  	 	4	 	 	 	250	
Amortization of deferred acquisition costs and intangibles	  	 	108	  	 	62	  	 	—  	 	 	 	170	
Interest expense	  	 	1	  	 	—  	  	 	—  	 	 	 	1	
 	  			  			  				 			
Total benefits and expenses	  	 	2,584	  	 	255	  	 	285	 	 	 	3,124	
 	  			  			  				 			
EARNINGS BEFORE INCOME TAXES AND ACCOUNTING CHANGE	  	 	128	  	 	62	  	 	47	 	 	 	237	
Provision for income taxes	  	 	49	  	 	18	  	 	17	 	 	 	84	
 	  			  			  				 			
SEGMENT NET EARNINGS	  	$	79	  	$	44	  	$	30	 	 	$	153	

 
Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
21

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Mortgage Insurance
(amounts in millions)

Three months ended December 31, 2005
	  	U. S.
	  	International
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	112	  	$	117	    	 	$	229	
Net investment income	  	 	33	  	 	44	 	 	 	77	
Policy fees and other income	  	 	6	  	 	5	 	 	 	11	
 	  			  				 			
Total revenues	  	 	151	  	 	166	 	 	 	317	
 	  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	50	  	 	16	 	 	 	66	
Acquisition and operating expenses, net of deferrals	  	 	38	  	 	36	 	 	 	74	
Amortization of deferred acquisition costs and intangibles	  	 	9	  	 	5	 	 	 	14	
 	  			  				 			
Total benefits and expenses	  	 	97	  	 	57	 	 	 	154	
 	  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	54	  	 	109	 	 	 	163	
Provision for income taxes	  	 	7	  	 	37	 	 	 	44	
 	  			  				 			
SEGMENT NET EARNINGS	  	$	47	  	$	72	 	 	$	119	

			 	
Three months ended December 31, 2004
	  	U. S.
	  	International
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	112	  	$	101	 	 	$	213	
Net investment income	  	 	34	  	 	34	 	 	 	68	
Policy fees and other income	  	 	3	  	 	5	 	 	 	8	
 	  			  				 			
Total revenues	  	 	149	  	 	140	 	 	 	289	
 	  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	39	  	 	14	 	 	 	53	
Acquisition and operating expenses, net of deferrals	  	 	39	  	 	30	 	 	 	69	
Amortization of deferred acquisition costs and intangibles	  	 	10	  	 	6	 	 	 	16	
 	  			  				 			
Total benefits and expenses	  	 	88	  	 	50	 	 	 	138	
 	  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	61	  	 	90	 	 	 	151	
Provision for income taxes	  	 	11	  	 	33	 	 	 	44	
 	  			  				 			
SEGMENT NET EARNINGS	  	$	50	  	$	57	 	 	$	107	

Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
22

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Mortgage Insurance
(amounts in millions)

Twelve months ended December 31, 2005
	  	U. S.
	  	International
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	447	  	$	435	    	 	$	882	
Net investment income	  	 	130	  	 	157	 	 	 	287	
Policy fees and other income	  	 	26	  	 	19	 	 	 	45	
 	  			  				 			
Total revenues	  	 	603	  	 	611	 	 	 	1,214	
 	  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	117	  	 	45	 	 	 	162	
Acquisition and operating expenses, net of deferrals	  	 	161	  	 	128	 	 	 	289	
Amortization of deferred acquisition costs and intangibles	  	 	35	  	 	21	 	 	 	56	
 	  			  				 			
Total benefits and expenses	  	 	313	  	 	194	 	 	 	507	
 	  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	290	  	 	417	 	 	 	707	
Provision for income taxes	  	 	52	  	 	148	 	 	 	200	
 	  			  				 			
SEGMENT NET EARNINGS	  	$	238	  	$	269	 	 	$	507	

 	  	 	 	  	 	 	 	 	 	 	
Twelve months ended December 31, 2004
	  	U. S.
	  	International
	 	 	Total
	
REVENUES:	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	460	  	$	340	 	 	$	800	
Net investment income	  	 	132	  	 	122	 	 	 	254	
Policy fees and other income	  	 	17	  	 	19	 	 	 	36	
 	  			  				 			
Total revenues	  	 	609	  	 	481	 	 	 	1,090	
 	  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	127	  	 	38	 	 	 	165	
Acquisition and operating expenses, net of deferrals	  	 	163	  	 	99	 	 	 	262	
Amortization of deferred acquisition costs and intangibles	  	 	31	  	 	20	 	 	 	51	
 	  			  				 			
Total benefits and expenses	  	 	321	  	 	157	 	 	 	478	
 	  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	288	  	 	324	 	 	 	612	
Provision for income taxes	  	 	64	  	 	122	 	 	 	186	
 	  			  				 			
SEGMENT NET EARNINGS	  	$	224	  	$	202	 	 	$	426	

 
Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
23

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Corporate and Other
(amounts in millions)

Three months ended December 31, 2005
	  	Total
	 	
REVENUES:	  	 	 	 	
Premiums	  	$	22	 	
Net investment income	  	 	33	 	
Net realized investment gains	  	 	11	 	
Policy fees and other income	  	 	5	 	
 	  				
Total revenues	  	 	71	 	
 	  				
BENEFITS AND EXPENSES:	  	 	 	 	
Benefits and other changes in policy reserves	  	 	10	 	
Acquisition and operating expenses, net of deferrals	  	 	38	 	
Amortization of deferred acquisition costs and intangibles	  	 	4	 	
Interest expense	  	 	60	 	
 	  				
Total benefits and expenses	  	 	112	 	
 	  				
LOSS BEFORE INCOME TAXES	  	 	(41	)	
Benefit from income taxes	  	 	(9	)	
 	  				
SEGMENT NET LOSS	  	 	(32	)	
Net realized investment gains, net of taxes	  	 	(7	)	
 	  				
NET OPERATING LOSS	  	$	(39	)	

 	  	 	 	 	
Three months ended December 31, 2004
	  	Total
	 	
REVENUES:	  	 	 	 	
Premiums	  	$	22	 	
Net investment income	  	 	29	 	
Net realized investment losses	  	 	(1	)	
Policy fees and other income	  	 	44	 	
 	  				
Total revenues	  	 	94	 	
 	  				
BENEFITS AND EXPENSES:	  	 	 	 	
Benefits and other changes in policy reserves	  	 	8	 	
Acquisition operating expenses, net of deferrals	  	 	33	 	
Amortization of deferred acquisition costs and intangibles	  	 	4	 	
Interest expense	  	 	57	 	
 	  				
Total benefits and expenses	  	 	102	 	
 	  				
LOSS BEFORE INCOME TAXES	  	 	(8	)	
Benefit from income taxes	  	 	(72	)	
 	  				
SEGMENT NET GAIN	  	 	64	 	
Net realized investment losses, net of taxes	  	 	1	 	
Net tax benefit related to initial public offering	  	 	(68	)	
Gain on outsourcing services agreement, net of taxes	  	 	(25	)	
 	  				
NET OPERATING LOSS	  	$	(28	)	

 
24

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Corporate and Other
(amounts in millions)

Twelve months ended December 31, 2005
	  	Total
	 	
REVENUES:	  	 	 	 	
Premiums	  	$	84	 	
Net investment income	  	 	152	 	
Net realized investment losses	  	 	(2	)	
Policy fees and other income	  	 	18	 	
 	  				
Total revenues	  	 	252	 	
 	  				
BENEFITS AND EXPENSES:	  	 	 	 	
Benefits and other changes in policy reserves	  	 	38	 	
Acquisition and operating expenses, net of deferrals	  	 	104	 	
Amortization of deferred acquisition costs and intangibles	  	 	18	 	
Interest expense	  	 	238	 	
 	  				
Total benefits and expenses	  	 	398	 	
 	  				
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(146	)	
Benefit from income taxes	  	 	(45	)	
 	  				
SEGMENT NET LOSS	  	 	(101	)	
Net realized investment losses, net of taxes	  	 	1	 	
 	  				
NET OPERATING LOSS	  	$	(100	)	

Twelve months ended December 31, 2004
	  	Total
	 	
REVENUES:	  	 	 	 	
Premiums	  	$	96	 	
Net investment income	  	 	148	 	
Net realized investment gains	  	 	26	 	
Policy fees and other income	  	 	54	 	
 	  				
Total revenues	  	 	324	 	
 	  				
BENEFITS AND EXPENSES:	  	 	 	 	
Benefits and other changes in policy reserves	  	 	36	 	
Acquisition and operating expenses, net of deferrals	  	 	83	 	
Amortization of deferred acquisition costs and intangibles	  	 	17	 	
Interest expense	  	 	201	 	
 	  				
Total benefits and expenses	  	 	337	 	
 	  				
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(13	)	
Benefit for income taxes	  	 	(65	)	
 	  				
SEGMENT NET GAIN	  	 	52	 	
Net realized investment gains, net of taxes	  	 	(16	)	
Net tax benefit related to initial public offering	  	 	(46	)	
Gain on outsourcing services agreement, net of taxes	  	 	(25	)	
 	  				
NET OPERATING LOSS	  	$	(35	)	

25

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Net Earnings
(amounts in millions)

 	 	2005
	 	 	2004
	 	
 	 	Q4
	 	 	Q3
	 	 	Q2
	 	Q1
	 	 	Total
	 	 	Q4
	 	 	Q3
	 	 	Q2
	 	 	Q1
	 	 	Total
	 	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	1,531	 	 	$	1,547	 	 	$	1,614	 	$	1,605	 	 	$	6,297	 	 	$	1,606	 	 	$	1,523	 	 	$	1,708	 	 	$	1,722	 	 	$	6,559	 	
Net investment income	 	 	941	 	 	 	902	 	 	 	842	 	 	851	 	 	 	3,536	 	 	 	825	 	 	 	785	 	 	 	1,001	 	 	 	1,037	 	 	 	3,648	 	
Net realized investment (losses) gains	 	 	11	 	 	 	(7	)	 	 	—  	 	 	(6	)	 	 	(2	)	 	 	(1	)	 	 	3	 	 	 	8	 	 	 	16	 	 	 	26	 	
Policy fees and other income	 	 	172	 	 	 	186	 	 	 	154	 	 	161	 	 	 	673	 	 	 	212	 	 	 	159	 	 	 	204	 	 	 	249	 	 	 	824	 	
 	 				 				 			 				 				 				 				 				 				 				
Total revenues	 	 	2,655	 	 	 	2,628	 	 	 	2,610	 	 	2,611	 	 	 	10,504	 	 	 	2,642	 	 	 	2,470	 	 	 	2,921	 	 	 	3,024	 	 	 	11,057	 	
 	 				 				 			 				 				 				 				 				 				 				
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	1,053	 	 	 	1,026	 	 	 	1,051	 	 	1,075	 	 	 	4,205	 	 	 	1,129	 	 	 	1,034	 	 	 	1,290	 	 	 	1,351	 	 	 	4,804	 	
Interest credited	 	 	374	 	 	 	364	 	 	 	347	 	 	340	 	 	 	1,425	 	 	 	344	 	 	 	328	 	 	 	364	 	 	 	396	 	 	 	1,432	 	
Acquisition and operating expenses, net of deferrals	 	 	513	 	 	 	506	 	 	 	523	 	 	447	 	 	 	1,989	 	 	 	457	 	 	 	411	 	 	 	511	 	 	 	523	 	 	 	1,902	 	
Amortization of deferred acquisition costs and intangibles	 	 	176	 	 	 	217	 	 	 	208	 	 	193	 	 	 	794	 	 	 	234	 	 	 	230	 	 	 	270	 	 	 	330	 	 	 	1,064	 	
Interest expense	 	 	80	 	 	 	72	 	 	 	69	 	 	72	 	 	 	293	 	 	 	63	 	 	 	60	 	 	 	47	 	 	 	47	 	 	 	217	 	
 	 				 				 			 				 				 				 				 				 				 				
Total benefits and expenses	 	 	2,196	 	 	 	2,185	 	 	 	2,198	 	 	2,127	 	 	 	8,706	 	 	 	2,227	 	 	 	2,063	 	 	 	2,482	 	 	 	2,647	 	 	 	9,419	 	
 	 				 				 			 				 				 				 				 				 				 				
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND ACCOUNTING CHANGE	 	 	459	 	 	 	443	 	 	 	412	 	 	484	 	 	 	1,798	 	 	 	415	 	 	 	407	 	 	 	439	 	 	 	377	 	 	 	1,638	 	
Provision for income taxes	 	 	152	 	 	 	136	 	 	 	127	 	 	162	 	 	 	577	 	 	 	69	 	 	 	136	 	 	 	171	 	 	 	117	 	 	 	493	 	
 	 				 				 			 				 				 				 				 				 				 				
NET EARNINGS FROM CONTINUING OPERATIONS BEFORE ACCOUNTING CHANGE	 	 	307	 	 	 	307	 	 	 	285	 	 	322	 	 	 	1,221	 	 	 	346	 	 	 	271	 	 	 	268	 	 	 	260	 	 	 	1,145	 	
Net realized investment losses (gains), net of taxes	 	 	(7	)	 	 	4	 	 	 	—  	 	 	4	 	 	 	1	 	 	 	1	 	 	 	(2	)	 	 	(5	)	 	 	(10	)	 	 	(16	)	
Net tax (benefit) expense related to initial public offering	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	—  	 	 	 	—  	 	 	 	(68	)	 	 	—  	 	 	 	22	 	 	 	—  	 	 	 	(46	)	
Gain on outsourcing services agreement, net of taxes	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	—  	 	 	 	—  	 	 	 	(25	)	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(25	)	
 	 				 				 			 				 				 				 				 				 				 				
NET OPERATING EARNINGS	 	$	300	 	 	$	311	 	 	$	285	 	$	326	 	 	$	1,222	 	 	$	254	 	 	$	269	 	 	$	285	 	 	$	250	 	 	$	1,058	 	

26

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Protection
(amounts in millions)

 	 	2005
	 	2004
	
 	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	1,099	 	$	1,120	 	$	1,129	 	$	1,128	 	$	4,476	 	$	1,094	 	$	1,085	 	$	1,132	 	$	1,170	 	$	4,481	
Net investment income	 	 	338	 	 	321	 	 	311	 	 	314	 	 	1,284	 	 	311	 	 	298	 	 	306	 	 	309	 	 	1,224	
Policy fees and other income	 	 	93	 	 	108	 	 	77	 	 	88	 	 	366	 	 	102	 	 	91	 	 	79	 	 	87	 	 	359	
 	 			 			 			 			 			 			 			 			 			 			
Total revenues	 	 	1,530	 	 	1,549	 	 	1,517	 	 	1,530	 	 	6,126	 	 	1,507	 	 	1,474	 	 	1,517	 	 	1,566	 	 	6,064	
 	 			 			 			 			 			 			 			 			 			 			
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	722	 	 	732	 	 	702	 	 	738	 	 	2,894	 	 	705	 	 	698	 	 	727	 	 	760	 	 	2,890	
Interest credited	 	 	98	 	 	90	 	 	91	 	 	90	 	 	369	 	 	91	 	 	91	 	 	90	 	 	90	 	 	362	
Acquisition and operating expenses, net of deferrals	 	 	333	 	 	328	 	 	349	 	 	327	 	 	1,337	 	 	307	 	 	279	 	 	307	 	 	291	 	 	1,184	
Amortization of deferred acquisition costs and intangibles	 	 	119	 	 	161	 	 	159	 	 	150	 	 	589	 	 	180	 	 	186	 	 	184	 	 	229	 	 	779	
Interest expense	 	 	19	 	 	13	 	 	11	 	 	9	 	 	52	 	 	6	 	 	4	 	 	2	 	 	3	 	 	15	
 	 			 			 			 			 			 			 			 			 			 			
Total benefits and expenses	 	 	1,291	 	 	1,324	 	 	1,312	 	 	1,314	 	 	5,241	 	 	1,289	 	 	1,258	 	 	1,310	 	 	1,373	 	 	5,230	
 	 			 			 			 			 			 			 			 			 			 			
EARNINGS BEFORE INCOME TAXES	 	 	239	 	 	225	 	 	205	 	 	216	 	 	885	 	 	218	 	 	216	 	 	207	 	 	193	 	 	834	
Provision for income taxes	 	 	87	 	 	80	 	 	73	 	 	77	 	 	317	 	 	78	 	 	81	 	 	78	 	 	69	 	 	306	
 	 			 			 			 			 			 			 			 			 			 			
SEGMENT NET EARNINGS	 	$	152	 	$	145	 	$	132	 	$	139	 	$	568	 	$	140	 	$	135	 	$	129	 	$	124	 	$	528	

27

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Retirement Income and Investments
(amounts in millions)

 	 	2005
	 	2004
	
 	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	181	 	$	189	 	$	241	 	$	244	 	$	855	 	$	277	 	$	219	 	$	321	 	$	277	 	$	1,094	
Net investment income	 	 	493	 	 	455	 	 	432	 	 	433	 	 	1,813	 	 	417	 	 	393	 	 	569	 	 	617	 	 	1,996	
Policy fees and other income	 	 	63	 	 	61	 	 	62	 	 	58	 	 	244	 	 	58	 	 	52	 	 	76	 	 	85	 	 	271	
 	 			 			 			 			 			 			 			 			 			 			
Total revenues	 	 	737	 	 	705	 	 	735	 	 	735	 	 	2,912	 	 	752	 	 	664	 	 	966	 	 	979	 	 	3,361	
 	 			 			 			 			 			 			 			 			 			 			
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	255	 	 	247	 	 	301	 	 	308	 	 	1,111	 	 	363	 	 	281	 	 	495	 	 	494	 	 	1,633	
Interest credited	 	 	276	 	 	274	 	 	256	 	 	250	 	 	1,056	 	 	253	 	 	237	 	 	274	 	 	306	 	 	1,070	
Acquisition and operating expenses, net of deferrals	 	 	68	 	 	66	 	 	66	 	 	59	 	 	259	 	 	48	 	 	59	 	 	68	 	 	75	 	 	250	
Amortization of deferred acquisition costs and intangibles	 	 	39	 	 	33	 	 	32	 	 	27	 	 	131	 	 	34	 	 	25	 	 	54	 	 	57	 	 	170	
Interest expense	 	 	1	 	 	1	 	 	1	 	 	—  	 	 	3	 	 	—  	 	 	—  	 	 	1	 	 	—  	 	 	1	
 	 			 			 			 			 			 			 			 			 			 			
Total benefits and expenses	 	 	639	 	 	621	 	 	656	 	 	644	 	 	2,560	 	 	698	 	 	602	 	 	892	 	 	932	 	 	3,124	
 	 			 			 			 			 			 			 			 			 			 			
EARNINGS BEFORE INCOME TAXES AND ACCOUNTING CHANGE	 	 	98	 	 	84	 	 	79	 	 	91	 	 	352	 	 	54	 	 	62	 	 	74	 	 	47	 	 	237	
Provision for income taxes	 	 	30	 	 	25	 	 	19	 	 	31	 	 	105	 	 	19	 	 	22	 	 	27	 	 	16	 	 	84	
 	 			 			 			 			 			 			 			 			 			 			
SEGMENT NET EARNINGS	 	$	68	 	$	59	 	$	60	 	$	60	 	$	247	 	$	35	 	$	40	 	$	47	 	$	31	 	$	153	

28

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Mortgage Insurance
(amounts in millions)

 	  	2005
	  	2004
	
 	  	Q4
	  	Q3
	  	Q2
	  	Q1
	  	Total
	  	Q4
	  	Q3
	  	Q2
	  	Q1
	  	Total
	
REVENUES:	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
Premiums	  	$	229	  	$	218	  	$	220	  	$	215	  	$	882	  	$	213	  	$	197	  	$	195	  	$	195	  	$	800	
Net investment income	  	 	77	  	 	73	  	 	68	  	 	69	  	 	287	  	 	68	  	 	65	  	 	61	  	 	60	  	 	254	
Policy fees and other income	  	 	11	  	 	12	  	 	12	  	 	10	  	 	45	  	 	8	  	 	10	  	 	10	  	 	8	  	 	36	
 	  			  			  			  			  			  			  			  			  			  			
Total revenues	  	 	317	  	 	303	  	 	300	  	 	294	  	 	1,214	  	 	289	  	 	272	  	 	266	  	 	263	  	 	1,090	
 	  			  			  			  			  			  			  			  			  			  			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
Benefits and other changes in policy reserves	  	 	66	  	 	36	  	 	39	  	 	21	  	 	162	  	 	53	  	 	46	  	 	27	  	 	39	  	 	165	
Acquisition and operating expenses, net of deferrals	  	 	74	  	 	81	  	 	75	  	 	59	  	 	289	  	 	69	  	 	64	  	 	65	  	 	64	  	 	262	
Amortization of deferred acquisition costs and intangibles	  	 	14	  	 	18	  	 	13	  	 	11	  	 	56	  	 	16	  	 	12	  	 	11	  	 	12	  	 	51	
 	  			  			  			  			  			  			  			  			  			  			
Total benefits and expenses	  	 	154	  	 	135	  	 	127	  	 	91	  	 	507	  	 	138	  	 	122	  	 	103	  	 	115	  	 	478	
 	  			  			  			  			  			  			  			  			  			  			
EARNINGS BEFORE INCOME TAXES	  	 	163	  	 	168	  	 	173	  	 	203	  	 	707	  	 	151	  	 	150	  	 	163	  	 	148	  	 	612	
Provision for income taxes	  	 	44	  	 	42	  	 	52	  	 	62	  	 	200	  	 	44	  	 	48	  	 	49	  	 	45	  	 	186	
 	  			  			  			  			  			  			  			  			  			  			
SEGMENT NET EARNINGS	  	$	119	  	$	126	  	$	121	  	$	141	  	$	507	  	$	107	  	$	102	  	$	114	  	$	103	  	$	426	

29

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Corporate and Other
(amounts in millions)

 	 	2005
	 	 	2004
	 	
 	 	Q4
	 	 	Q3
	 	 	Q2
	 	 	Q1
	 	 	Total
	 	 	Q4
	 	 	Q3
	 	 	Q2
	 	 	Q1
	 	 	Total
	 	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	22	 	 	$	20	 	 	$	24	 	 	$	18	 	 	$	84	 	 	$	22	 	 	$	22	 	 	$	26	 	 	$	26	 	 	$	96	 	
Net investment income	 	 	33	 	 	 	53	 	 	 	31	 	 	 	35	 	 	 	152	 	 	 	29	 	 	 	29	 	 	 	57	 	 	 	33	 	 	 	148	 	
Net realized investment (losses) gains	 	 	11	 	 	 	(7	)	 	 	—  	 	 	 	(6	)	 	 	(2	)	 	 	(1	)	 	 	3	 	 	 	8	 	 	 	16	 	 	 	26	 	
Policy fees and other income	 	 	5	 	 	 	5	 	 	 	3	 	 	 	5	 	 	 	18	 	 	 	44	 	 	 	6	 	 	 	2	 	 	 	2	 	 	 	54	 	
 	 				 				 				 				 				 				 				 				 				 				
Total revenues	 	 	71	 	 	 	71	 	 	 	58	 	 	 	52	 	 	 	252	 	 	 	94	 	 	 	60	 	 	 	93	 	 	 	77	 	 	 	324	 	
 	 				 				 				 				 				 				 				 				 				 				
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	10	 	 	 	11	 	 	 	9	 	 	 	8	 	 	 	38	 	 	 	8	 	 	 	9	 	 	 	10	 	 	 	9	 	 	 	36	 	
Acquisition and operating expenses, net of deferrals	 	 	38	 	 	 	31	 	 	 	33	 	 	 	2	 	 	 	104	 	 	 	33	 	 	 	9	 	 	 	22	 	 	 	19	 	 	 	83	 	
Amortization of deferred acquisition costs and intangibles	 	 	4	 	 	 	5	 	 	 	4	 	 	 	5	 	 	 	18	 	 	 	4	 	 	 	7	 	 	 	3	 	 	 	3	 	 	 	17	 	
Interest expense	 	 	60	 	 	 	58	 	 	 	57	 	 	 	63	 	 	 	238	 	 	 	57	 	 	 	56	 	 	 	44	 	 	 	44	 	 	 	201	 	
 	 				 				 				 				 				 				 				 				 				 				
Total benefits and expenses	 	 	112	 	 	 	105	 	 	 	103	 	 	 	78	 	 	 	398	 	 	 	102	 	 	 	81	 	 	 	79	 	 	 	75	 	 	 	337	 	
 	 				 				 				 				 				 				 				 				 				 				
(LOSS) EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	 	 	(41	)	 	 	(34	)	 	 	(45	)	 	 	(26	)	 	 	(146	)	 	 	(8	)	 	 	(21	)	 	 	14	 	 	 	2	 	 	 	(13	)	
(Benefit from) provision for income taxes	 	 	(9	)	 	 	(11	)	 	 	(17	)	 	 	(8	)	 	 	(45	)	 	 	(72	)	 	 	(15	)	 	 	24	 	 	 	(2	)	 	 	(65	)	
 	 				 				 				 				 				 				 				 				 				 				
SEGMENT NET (LOSS) EARNINGS	 	 	(32	)	 	 	(23	)	 	 	(28	)	 	 	(18	)	 	 	(101	)	 	 	64	 	 	 	(6	)	 	 	(10	)	 	 	4	 	 	 	52	 	
Net realized investment losses (gains), net of taxes	 	 	(7	)	 	 	4	 	 	 	—  	 	 	 	4	 	 	 	1	 	 	 	1	 	 	 	(2	)	 	 	(5	)	 	 	(10	)	 	 	(16	)	
Net tax (benefit) expense related to initial public offering	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(68	)	 	 	—  	 	 	 	22	 	 	 	—  	 	 	 	(46	)	
Gain on outsourcing services agreement, net of taxes	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(25	)	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(25	)	
 	 				 				 				 				 				 				 				 				 				 				
NET OPERATING (LOSS) EARNINGS	 	$	(39	)	 	$	(19	)	 	$	(28	)	 	$	(14	)	 	$	(100	)	 	$	(28	)	 	$	(8	)	 	$	7	 	 	$	(6	)	 	$	(35	)	

30

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Affinity
(amounts in millions)

 	  	2005
	  	2004
	 	
 	  	Q4
	  	Q3
	  	Q2
	  	Q1
	  	Total
	  	Q4
	  	Q3
	  	Q2
	 	 	Q1
	 	 	Total
	 	
REVENUES:	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Premiums	  	$	—  	  	$	—  	  	$	—  	  	$	—  	  	$	—  	  	$	—  	  	$	—  	  	$	34	 	 	$	54	 	 	$	88	 	
Net investment income	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	8	 	 	 	18	 	 	 	26	 	
Policy fees and other income	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	37	 	 	 	67	 	 	 	104	 	
 	  			  			  			  			  			  			  			  				 				 				
Total revenues	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	79	 	 	 	139	 	 	 	218	 	
 	  			  			  			  			  			  			  			  				 				 				
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	31	 	 	 	49	 	 	 	80	 	
Acquisition and operating expenses, net of deferrals	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	49	 	 	 	74	 	 	 	123	 	
Amortization of deferred acquisition costs and intangibles	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	18	 	 	 	29	 	 	 	47	 	
 	  			  			  			  			  			  			  			  				 				 				
Total benefits and expenses	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	98	 	 	 	152	 	 	 	250	 	
 	  			  			  			  			  			  			  			  				 				 				
LOSS BEFORE INCOME TAXES	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	(19	)	 	 	(13	)	 	 	(32	)	
Benefit from income taxes	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	(7	)	 	 	(11	)	 	 	(18	)	
 	  			  			  			  			  			  			  			  				 				 				
SEGMENT NET LOSS	  	$	—  	  	$	—  	  	$	—  	  	$	—  	  	$	—  	  	$	—  	  	$	—  	  	$	(12	)	 	$	(2	)	 	$	(14	)	

31

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
STATISTICAL DATA
 
32

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Investments Summary
(amounts in millions)

 	 	December 31,
2005
	 	 	September 30,
2005
	 	 	June 30,
2005
	 	 	March 31,
2005
	 	 	December 31,
2004
	 	
 	 	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 maturities, available-for-sale:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Public	 	$	40,539	 	59	%	 	$	40,507	 	59	%	 	$	40,813	 	60	%	 	$	40,644	 	61	%	 	$	40,150	 	60	%	
Private	 	 	13,252	 	20	%	 	 	13,062	 	19	%	 	 	12,606	 	19	%	 	 	11,997	 	18	%	 	 	12,274	 	18	%	
Equity securities, available-for-sale	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Common stocks and mutual funds	 	 	54	 	0	%	 	 	62	 	0	%	 	 	50	 	0	%	 	 	52	 	0	%	 	 	82	 	0	%	
Preferred stocks	 	 	152	 	0	%	 	 	133	 	0	%	 	 	137	 	0	%	 	 	132	 	0	%	 	 	125	 	0	%	
Investment in special purpose entities	 	 	161	 	0	%	 	 	171	 	0	%	 	 	172	 	0	%	 	 	171	 	1	%	 	 	167	 	1	%	
Commercial mortgage loans	 	 	7,558	 	11	%	 	 	7,272	 	11	%	 	 	6,859	 	10	%	 	 	6,279	 	9	%	 	 	6,051	 	9	%	
Policy loans	 	 	1,350	 	2	%	 	 	1,353	 	2	%	 	 	1,233	 	2	%	 	 	1,232	 	2	%	 	 	1,224	 	2	%	
Restricted investments held by securitization entities	 	 	685	 	1	%	 	 	753	 	1	%	 	 	781	 	1	%	 	 	815	 	1	%	 	 	860	 	1	%	
Cash, cash equivalents and short-term investments	 	 	1,900	 	3	%	 	 	1,860	 	3	%	 	 	1,545	 	2	%	 	 	1,526	 	2	%	 	 	2,210	 	3	%	
Other invested assets	 	 	2,772	 	4	%	 	 	3,198	 	5	%	 	 	3,669	 	6	%	 	 	3,823	 	6	%	 	 	3,996	 	6	%	
 	 			 			 			 			 			 			 			 			 			 			
Total invested assets and cash	 	$	68,423	 	100	%	 	$	68,371	 	100	%	 	$	67,865	 	100	%	 	$	66,671	 	100	%	 	$	67,139	 	100	%	

 	 	December 31,
2005
	 	 	September 30,
2005
	 	 	June 30,
2005
	 	 	March 31,
2005
	 	 	December 31,
2004
	 	
Public Fixed Maturities—Credit
Quality:
	 	Carrying
Amount
	 	% of
Total
	 	 	Carrying
Amount
	 	% of
Total
	 	 	Carrying
Amount
	 	% of
Total
	 	 	Estimated
Fair Value
	 	% of
Total
	 	 	Estimated
Fair Value
	 	% of
Total
	 	
NAIC
Designation
	 	Rating Agency
Equivalent
Designation
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
1	 	Aaa/Aa/A	 	$	29,295	 	72	%	 	$	28,966	 	72	%	 	$	29,191	 	72	%	 	$	29,107	 	72	%	 	$	28,635	 	71	%	
2	 	Baa	 	 	9,072	 	23	%	 	 	9,345	 	23	%	 	 	9,447	 	23	%	 	 	9,472	 	23	%	 	 	9,344	 	23	%	
3	 	Ba	 	 	1,466	 	4	%	 	 	1,575	 	4	%	 	 	1,529	 	4	%	 	 	1,439	 	4	%	 	 	1,415	 	4	%	
4	 	B	 	 	557	 	1	%	 	 	440	 	1	%	 	 	465	 	1	%	 	 	474	 	1	%	 	 	651	 	2	%	
5	 	Caa and lower	 	 	79	 	0	%	 	 	122	 	0	%	 	 	119	 	0	%	 	 	91	 	0	%	 	 	63	 	0	%	
6	 	In or near default	 	 	13	 	0	%	 	 	12	 	0	%	 	 	26	 	0	%	 	 	26	 	0	%	 	 	15	 	0	%	
Not rated	 	Not rated	 	 	57	 	0	%	 	 	47	 	0	%	 	 	36	 	0	%	 	 	35	 	0	%	 	 	27	 	0	%	
 	 	 	 			 			 			 			 			 			 			 			 			 			
 	 	Total public fixed maturities	 	$	40,539	 	100	%	 	$	40,507	 	100	%	 	$	40,813	 	100	%	 	$	40,644	 	100	%	 	$	40,150	 	100	%	

Private Fixed Maturities—Credit
Quality:
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NAIC
Designation
	 	Rating Agency
Equivalent
Designation
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
1	 	Aaa/Aa/A	 	$	7,452	 	56	%	 	$	7,201	 	55	%	 	$	6,907	 	56	%	 	$	6,350	 	53	%	 	$	6,501	 	53	%	
2	 	Baa	 	 	5,091	 	39	%	 	 	5,081	 	39	%	 	 	4,818	 	38	%	 	 	4,743	 	40	%	 	 	4,768	 	39	%	
3	 	Ba	 	 	485	 	4	%	 	 	535	 	4	%	 	 	550	 	4	%	 	 	543	 	5	%	 	 	605	 	5	%	
4	 	B	 	 	157	 	1	%	 	 	139	 	1	%	 	 	217	 	2	%	 	 	175	 	1	%	 	 	202	 	2	%	
5	 	Caa and lower	 	 	16	 	0	%	 	 	36	 	0	%	 	 	39	 	0	%	 	 	46	 	0	%	 	 	103	 	1	%	
6	 	In or near default	 	 	34	 	0	%	 	 	50	 	1	%	 	 	55	 	0	%	 	 	37	 	0	%	 	 	43	 	0	%	
Not rated	 	Not rated	 	 	17	 	0	%	 	 	20	 	0	%	 	 	20	 	0	%	 	 	103	 	1	%	 	 	52	 	0	%	
 	 	 	 			 			 			 			 			 			 			 			 			 			
 	 	Total private fixed maturities	 	$	13,252	 	100	%	 	$	13,062	 	100	%	 	$	12,606	 	100	%	 	$	11,997	 	100	%	 	$	12,274	 	100	%	

 
33

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Fixed Maturities Summary
(amounts in millions)

 	 	December 31, 2005
	 	 	September 30, 2005
	 	 	June 30, 2005
	 	 	March 31, 2005
	 	 	December 31, 2004
	 	
 	 	Estimated
Fair Value
	 	% of
Total
	 	 	Estimated
Fair Value
	 	% of
Total
	 	 	Estimated
Fair Value
	 	% of
Total
	 	 	Estimated
Fair Value
	 	% of
Total
	 	 	Estimated
Fair Value
	 	% of
Total
	 	
Fixed maturities—Security Sector:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
U.S. government, agencies & government sponsored entities	 	$	805	 	2	%	 	$	715	 	1	%	 	$	731	 	1	%	 	$	493	 	1	%	 	$	572	 	1	%	
Tax exempt	 	 	2,890	 	6	%	 	 	2,913	 	6	%	 	 	2,995	 	6	%	 	 	3,016	 	6	%	 	 	3,030	 	6	%	
Foreign government	 	 	1,806	 	3	%	 	 	1,793	 	3	%	 	 	1,887	 	3	%	 	 	1,808	 	3	%	 	 	1,744	 	3	%	
U.S. corporate	 	 	26,122	 	49	%	 	 	26,617	 	50	%	 	 	27,058	 	51	%	 	 	26,623	 	51	%	 	 	27,101	 	52	%	
Foreign corporate	 	 	9,405	 	17	%	 	 	9,144	 	17	%	 	 	8,776	 	16	%	 	 	8,651	 	16	%	 	 	8,100	 	15	%	
Mortgage-backed	 	 	8,736	 	16	%	 	 	8,553	 	16	%	 	 	8,451	 	16	%	 	 	8,722	 	17	%	 	 	8,577	 	17	%	
Asset-backed	 	 	4,027	 	7	%	 	 	3,834	 	7	%	 	 	3,521	 	7	%	 	 	3,328	 	6	%	 	 	3,300	 	6	%	
 	 			 			 			 			 			 			 			 			 			 			
Total fixed maturities	 	$	53,791	 	100	%	 	$	53,569	 	100	%	 	$	53,419	 	100	%	 	$	52,641	 	100	%	 	$	52,424	 	100	%	
 	 			 			 			 			 			 			 			 			 			 			
Corporate Bond Holdings—Industry Sector:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Finance and insurance	 	$	11,400	 	32	%	 	$	11,151	 	31	%	 	$	10,915	 	31	%	 	$	10,658	 	30	%	 	$	10,357	 	30	%	
Utilities and energy	 	 	6,836	 	19	%	 	 	6,963	 	19	%	 	 	7,171	 	20	%	 	 	6,985	 	20	%	 	 	7,056	 	20	%	
Consumer—non cyclical	 	 	4,632	 	13	%	 	 	4,734	 	13	%	 	 	4,877	 	14	%	 	 	4,705	 	13	%	 	 	4,351	 	12	%	
Consumer—cyclical	 	 	2,642	 	7	%	 	 	2,719	 	8	%	 	 	2,670	 	7	%	 	 	2,634	 	8	%	 	 	2,666	 	8	%	
Capital goods	 	 	2,043	 	6	%	 	 	2,134	 	6	%	 	 	2,194	 	6	%	 	 	2,289	 	6	%	 	 	2,240	 	6	%	
Industrial	 	 	2,141	 	6	%	 	 	2,146	 	6	%	 	 	2,269	 	6	%	 	 	2,384	 	7	%	 	 	2,475	 	7	%	
Technology and communications	 	 	2,424	 	7	%	 	 	2,476	 	7	%	 	 	2,473	 	7	%	 	 	2,329	 	7	%	 	 	2,223	 	6	%	
Transportation	 	 	1,325	 	4	%	 	 	1,317	 	4	%	 	 	1,240	 	3	%	 	 	1,156	 	3	%	 	 	1,063	 	3	%	
Other	 	 	2,084	 	6	%	 	 	2,121	 	6	%	 	 	2,025	 	6	%	 	 	2,134	 	6	%	 	 	2,770	 	8	%	
 	 			 			 			 			 			 			 			 			 			 			
Total	 	$	35,527	 	100	%	 	$	35,761	 	100	%	 	$	35,834	 	100	%	 	$	35,274	 	100	%	 	$	35,201	 	100	%	
 	 			 			 			 			 			 			 			 			 			 			
Fixed maturities—Contractual Maturity
Dates:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Due in one year or less	 	$	2,812	 	5	%	 	$	2,646	 	5	%	 	$	2,858	 	5	%	 	$	2,652	 	5	%	 	$	2,040	 	4	%	
Due after one year through five years	 	 	10,144	 	19	%	 	 	10,331	 	19	%	 	 	10,382	 	20	%	 	 	10,329	 	20	%	 	 	10,749	 	20	%	
Due after five years through ten years	 	 	11,218	 	21	%	 	 	11,567	 	22	%	 	 	11,514	 	22	%	 	 	11,658	 	22	%	 	 	11,842	 	23	%	
Due after ten years	 	 	16,854	 	31	%	 	 	16,638	 	31	%	 	 	16,693	 	31	%	 	 	15,952	 	30	%	 	 	15,916	 	30	%	
 	 			 			 			 			 			 			 			 			 			 			
Subtotal	 	 	41,028	 	76	%	 	 	41,182	 	77	%	 	 	41,447	 	78	%	 	 	40,591	 	77	%	 	 	40,547	 	77	%	
Mortgage-backed and asset backed	 	 	12,763	 	24	%	 	 	12,387	 	23	%	 	 	11,972	 	22	%	 	 	12,050	 	23	%	 	 	11,877	 	23	%	
 	 			 			 			 			 			 			 			 			 			 			
Total fixed maturities	 	$	53,791	 	100	%	 	$	53,569	 	100	%	 	$	53,419	 	100	%	 	$	52,641	 	100	%	 	$	52,424	 	100	%	

34

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Commercial Mortgage Loans Data
(amounts in millions)

 	 	December 31, 2005
	 	 	September 30, 2005
	 	 	June 30, 2005
	 	 	March 31, 2005
	 	 	December 31, 2004
	 	
Summary of Commercial
Mortgage Loans
	 	Carrying
Amount
	 	 	% of
Total
	 	 	Carrying
Amount
	 	% of
Total
	 	 	Carrying
Amount
	 	% of
Total
	 	 	Carrying
Amount
	 	% of
Total
	 	 	Carrying
Amount
	 	% of
Total
	 	
Geographic Region	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Pacific	 	$	2,272	 	 	 	30	%	 	$	2,191	 	30	%	 	$	2,043	 	30	%	 	$	1,850	 	30	%	 	$	1,796	 	30	%	
South Atlantic	 	 	1,586	 	 	 	21	%	 	 	1,508	 	21	%	 	 	1,451	 	21	%	 	 	1,234	 	20	%	 	 	1,239	 	20	%	
Middle Atlantic	 	 	1,088	 	 	 	14	%	 	 	1,081	 	15	%	 	 	998	 	15	%	 	 	989	 	16	%	 	 	953	 	16	%	
East North Central	 	 	794	 	 	 	11	%	 	 	766	 	10	%	 	 	704	 	10	%	 	 	662	 	11	%	 	 	682	 	11	%	
Mountain	 	 	580	 	 	 	8	%	 	 	514	 	7	%	 	 	496	 	7	%	 	 	471	 	8	%	 	 	463	 	8	%	
West South Central	 	 	336	 	 	 	4	%	 	 	346	 	5	%	 	 	306	 	5	%	 	 	304	 	5	%	 	 	306	 	5	%	
West North Central	 	 	440	 	 	 	6	%	 	 	431	 	6	%	 	 	432	 	6	%	 	 	366	 	5	%	 	 	252	 	4	%	
East South Central	 	 	280	 	 	 	4	%	 	 	268	 	4	%	 	 	261	 	4	%	 	 	230	 	3	%	 	 	225	 	4	%	
New England	 	 	182	 	 	 	2	%	 	 	167	 	2	%	 	 	168	 	2	%	 	 	173	 	2	%	 	 	135	 	2	%	
 	 				 				 			 			 			 			 			 			 			 			
Total	 	$	7,558	 	 	 	100	%	 	$	7,272	 	100	%	 	$	6,859	 	100	%	 	$	6,279	 	100	%	 	$	6,051	 	100	%	
 	 				 				 			 			 			 			 			 			 			 			
Property Type	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Office	 	$	2,197	 	 	 	28	%	 	$	2,156	 	30	%	 	$	1,914	 	28	%	 	$	1,861	 	30	%	 	$	1,822	 	30	%	
Industrial	 	 	2,109	 	 	 	28	%	 	 	2,017	 	28	%	 	 	1,963	 	29	%	 	 	1,845	 	30	%	 	 	1,797	 	30	%	
Retail	 	 	2,092	 	 	 	28	%	 	 	2,046	 	28	%	 	 	1,938	 	28	%	 	 	1,701	 	27	%	 	 	1,574	 	26	%	
Apartments	 	 	833	 	 	 	11	%	 	 	746	 	10	%	 	 	708	 	10	%	 	 	655	 	10	%	 	 	650	 	11	%	
Mixed use/other	 	 	327	 	 	 	5	%	 	 	307	 	4	%	 	 	336	 	5	%	 	 	217	 	3	%	 	 	208	 	3	%	
 	 				 				 			 			 			 			 			 			 			 			
Total	 	$	7,558	 	 	 	100	%	 	$	7,272	 	100	%	 	$	6,859	 	100	%	 	$	6,279	 	100	%	 	$	6,051	 	100	%	

 	 	Principal
Balance
	 	 	% of
Total
	 	 	Principal
Balance
	 	% of
Total
	 	 	Principal
Balance
	 	% of
Total
	 	 	Principal
Balance
	 	% of
Total
	 	 	Principal
Balance
	 	% of
Total
	 	
Loan Size	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Under $5 million	 	$	3,407	 	 	 	45	%	 	$	3,330	 	46	%	 	$	3,247	 	47	%	 	$	3,122	 	49	%	 	$	3,073	 	50	%	
$5 million but less than $10 million	 	 	1,831	 	 	 	24	%	 	 	1,720	 	23	%	 	 	1,647	 	24	%	 	 	1,457	 	23	%	 	 	1,442	 	24	%	
$10 million but less than $20 million	 	 	1,427	 	 	 	19	%	 	 	1,382	 	19	%	 	 	1,245	 	18	%	 	 	1,072	 	17	%	 	 	1,009	 	17	%	
$20 million but less than $30 million	 	 	448	 	 	 	6	%	 	 	466	 	6	%	 	 	323	 	5	%	 	 	350	 	6	%	 	 	334	 	5	%	
$30 million and over	 	 	469	 	 	 	6	%	 	 	429	 	6	%	 	 	446	 	6	%	 	 	324	 	5	%	 	 	237	 	4	%	
 	 				 				 			 			 			 			 			 			 			 			
Total	 	$	7,582	 	 	 	100	%	 	$	7,327	 	100	%	 	$	6,908	 	100	%	 	$	6,325	 	100	%	 	$	6,095	 	100	%	

 	 	December 31,
2005
	 	 	December 31,
2004
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Allowance for Losses on Mortgage Loans	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Balance, beginning of year	 	$	52	 	 	$	50	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Provisions	 	 	11	 	 	 	7	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Releases	 	 	(32	)	 	 	—  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Deductions for write-downs and dispositions	 	 	—  	 	 	 	(5	)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 				 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Balance, end of year	 	$	31	 	 	$	52	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	

35

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
General Account GAAP Net Investment Income Yields
(amounts in millions)

 	  	2005
	 	
 	  	Q4
	 	 	Q3
	 	 	Q2
	 	 	Q1
	 	 	Total
	 	
GAAP Net Investment Income	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Fixed maturities—taxable	  	$	705	 	 	$	692	 	 	$	657	 	 	$	665	 	 	$	2,719	 	
Fixed maturities—non-taxable	  	 	32	 	 	 	31	 	 	 	33	 	 	 	32	 	 	 	128	 	
Mortgage loans	  	 	145	 	 	 	116	 	 	 	98	 	 	 	98	 	 	 	457	 	
Equity securities	  	 	7	 	 	 	6	 	 	 	6	 	 	 	6	 	 	 	25	 	
Other Investments	  	 	19	 	 	 	21	 	 	 	16	 	 	 	17	 	 	 	73	 	
Policy loans	  	 	29	 	 	 	27	 	 	 	27	 	 	 	27	 	 	 	110	 	
Restricted investments held by securitization entities	  	 	11	 	 	 	12	 	 	 	13	 	 	 	14	 	 	 	50	 	
Cash, cash equivalents and short-term investments	  	 	12	 	 	 	16	 	 	 	8	 	 	 	9	 	 	 	45	 	
 	  				 				 				 				 				
Total Cash and Invested Assets	  	 	960	 	 	 	921	 	 	 	858	 	 	 	868	 	 	 	3,607	 	
 	  				 				 				 				 				
Investment Expenses	  	 	(19	)	 	 	(19	)	 	 	(16	)	 	 	(17	)	 	 	(71	)	
 	  				 				 				 				 				
Total Net Investment Income	  	$	941	 	 	$	902	 	 	$	842	 	 	$	851	 	 	$	3,536	 	
 	  				 				 				 				 				
Annualized Yields	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Fixed maturities—taxable	  	 	5.7	%	 	 	5.7	%	 	 	5.5	%	 	 	5.5	%	 	 	5.6	%	
Fixed maturities—non-taxable	  	 	4.5	%	 	 	4.5	%	 	 	4.5	%	 	 	4.5	%	 	 	4.5	%	
Mortgage loans	  	 	7.8	%	 	 	6.6	%	 	 	6.0	%	 	 	6.4	%	 	 	6.7	%	
Equity securities	  	 	9.4	%	 	 	9.0	%	 	 	8.6	%	 	 	8.9	%	 	 	8.9	%	
Other Investments	  	 	7.9	%	 	 	8.5	%	 	 	7.3	%	 	 	8.5	%	 	 	8.1	%	
Policy loans	  	 	8.6	%	 	 	8.5	%	 	 	8.9	%	 	 	8.3	%	 	 	8.6	%	
Restricted investments held by securitization entities	  	 	6.2	%	 	 	6.2	%	 	 	6.3	%	 	 	6.9	%	 	 	6.4	%	
Cash, cash equivalents and short-term investments	  	 	2.5	%	 	 	3.7	%	 	 	2.2	%	 	 	2.0	%	 	 	2.5	%	
 	  				 				 				 				 				
Total Cash and Invested Assets	  	 	5.9	%	 	 	5.8	%	 	 	5.5	%	 	 	5.6	%	 	 	5.7	%	
 	  				 				 				 				 				
Investment Expenses	  	 	-0.1	%	 	 	-0.1	%	 	 	-0.1	%	 	 	-0.1	%	 	 	-0.1	%	
 	  				 				 				 				 				
Total Net Investment Income	  	 	5.8	%	 	 	5.7	%	 	 	5.4	%	 	 	5.5	%	 	 	5.6	%	

36

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Deferred Acquisition Costs
(amounts in millions)

Deferred Acquisition Costs
	 	Total
	 	 	Protection
	 	 	Retirement
Income and
Investments
	 	 	Mortgage
Insurance
	 	 	Corporate
and Other
	 	
Unamortized balance as of September 30, 2005	 	$	5,448	 	 	$	4,482	 	 	$	837	 	 	$	124	 	 	$	5	 	
Costs deferred	 	 	262	 	 	 	186	 	 	 	54	 	 	 	20	 	 	 	2	 	
Amortization, net of interest accretion	 	 	(126	)	 	 	(75	)	 	 	(36	)	 	 	(13	)	 	 	(2	)	
Impact of foreign currency translation	 	 	(13	)	 	 	(13	)	 	 	—  	 	 	 	—  	 	 	 	—  	 	
 	 				 				 				 				 				
Unamortized balance as of December 31, 2005	 	 	5,571	 	 	 	4,580	 	 	 	855	 	 	 	131	 	 	 	5	 	
Accumulated effect of net unrealized investment gains	 	 	15	 	 	 	(12	)	 	 	27	 	 	 	—  	 	 	 	—  	 	
 	 				 				 				 				 				
Balance as of December 31, 2005	 	$	5,586	 	 	$	4,568	 	 	$	882	 	 	$	131	 	 	$	5	 	

37

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Assets Under Management—Retirement Income and Investments
(amounts in millions)

 	  	Three months ended
December 31,
	 	
 	  	2005
	 	 	2004
	 	
Spread-Based Retail Products	  	 	 	 	 	 	 	 	
Fixed Annuities	  	 	 	 	 	 	 	 	
Account value, net of reinsurance, beginning of period	  	$	15,676	 	 	$	14,832	 	
Deposits	  	 	356	 	 	 	483	 	
Interest credited	  	 	151	 	 	 	153	 	
Surrenders, benefits and product charges	  	 	(636	)	 	 	(345	)	
 	  				 				
Account value, net of reinsurance, end of period	  	 	15,547	 	 	 	15,123	 	
 	  				 				
Single Premium Income Annuities	  	 	 	 	 	 	 	 	
Account value, net of reinsurance, beginning of period	  	 	5,578	 	 	 	5,253	 	
Premiums and deposits	  	 	240	 	 	 	242	 	
Interest credited	  	 	79	 	 	 	77	 	
Surrenders, benefits and product charges	  	 	(217	)	 	 	(228	)	
 	  				 				
Account value, net of reinsurance, end of period	  	 	5,680	 	 	 	5,344	 	
 	  				 				
Structured Settlements	  	 	 	 	 	 	 	 	
Account value, net of reinsurance, beginning of period	  	 	831	 	 	 	420	 	
Premiums and deposits	  	 	41	 	 	 	116	 	
Interest credited	  	 	12	 	 	 	9	 	
Surrenders, benefits and product charges	  	 	(13	)	 	 	(12	)	
 	  				 				
Account value, net of reinsurance, end of period	  	 	871	 	 	 	533	 	
 	  				 				
Total Spread-Based Retail Products, net of reinsurance	  	$	22,098	 	 	$	21,000	 	
 	  				 				
Spread-Based Institutional Products	  	 	 	 	 	 	 	 	
GICs and Funding Agreements	  	 	 	 	 	 	 	 	
Account value, net of reinsurance, beginning of period	  	$	9,998	 	 	$	9,329	 	
Deposits	  	 	587	 	 	 	873	 	
Interest credited	  	 	107	 	 	 	77	 	
Surrenders and benefits	  	 	(915	)	 	 	(738	)	
 	  				 				
Account value, end of period	  	 	9,777	 	 	 	9,541	 	
 	  				 				
Total Spread-Based Products Assets Under Management	  	$	31,875	 	 	$	30,541	 	
 	  				 				
Fee-Based Products	  	 	 	 	 	 	 	 	
Variable Annuities	  	 	 	 	 	 	 	 	
Account value, net of reinsurance, beginning of period	  	$	1,795	 	 	$	842	 	
Deposits	  	 	293	 	 	 	203	 	
Interest credited and investment performance	  	 	38	 	 	 	62	 	
Surrenders, benefits and product charges	  	 	(33	)	 	 	(13	)	
 	  				 				
Account value, net of reinsurance, end of period	  	 	2,093	 	 	 	1,094	 	
 	  				 				
Variable Life Insurance	  	 	 	 	 	 	 	 	
Account value, beginning of the period	  	 	355	 	 	 	322	 	
Deposits	  	 	8	 	 	 	9	 	
Interest credited and investment performance	  	 	12	 	 	 	25	 	
Surrenders, benefits and product charges	  	 	(12	)	 	 	(11	)	
 	  				 				
Account value, end of period	  	 	363	 	 	 	345	 	

38

Table of Contents

 	  	Three months ended
December 31,
	 	
 	  	2005
	 	 	2004
	 	
Third Party Assets	  	 	 	 	 	 	 	 	
Private Asset Management	  	 	 	 	 	 	 	 	
Account value, beginning of the period	  	 	3,137	 	 	 	2,475	 	
Deposits	  	 	275	 	 	 	188	 	
Interest credited and investment performance	  	 	67	 	 	 	224	 	
Surrenders, benefits and product charges	  	 	(127	)	 	 	(112	)	
 	  				 				
Account value, end of period	  	 	3,352	 	 	 	2,775	 	
 	  				 				
Genworth Financial Advisors (Formerly Personal Advisors Network)	  	 	 	 	 	 	 	 	
Account value, beginning of the period	  	 	1,640	 	 	 	1,036	 	
Deposits	  	 	198	 	 	 	112	 	
Interest credited and investment performance	  	 	5	 	 	 	58	 	
Surrenders, benefits and product charges	  	 	(15	)	 	 	(8	)	
 	  				 				
Account value, end of period	  	 	1,828	 	 	 	1,198	 	
 	  				 				
Total Third Party Assets	  	 	5,180	 	 	 	3,973	 	
 	  				 				
Total Fee-Based Products Assets Under Management	  	$	7,636	 	 	$	5,412	 	
 	  				 				
Assets Under Management, net of reinsurance	  	$	39,511	 	 	$	35,953	 	
 	  				 				
Reinsured products	  	 	 	 	 	 	 	 	
Account value, beginning of period	  	$	21,293	 	 	$	21,991	 	
Deposits	  	 	7	 	 	 	52	 	
Interest credited and investment performance	  	 	416	 	 	 	851	 	
Surrenders, benefits and product charges	  	 	(712	)	 	 	(604	)	
 	  				 				
Account value, end of period	  	$	21,004	 	 	$	22,290	 	

39

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Assets Under Management by Contract Type—Retirement Income and Investments
(amounts in millions)

 	 	2005
	 	2004
	
 	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Q4
	 	Q3
	 	Q2
	 	Q1
	
Spread-Based Institutional Products	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Guaranteed investment contracts (GICs)	 	$	3,142	 	$	3,217	 	$	3,264	 	$	3,302	 	$	3,352	 	$	3,412	 	$	3,517	 	$	3,474	
Funding agreements backing notes	 	 	3,957	 	 	4,054	 	 	3,172	 	 	3,381	 	 	3,405	 	 	2,992	 	 	2,844	 	 	2,963	
Funding agreements	 	 	2,678	 	 	2,727	 	 	2,726	 	 	2,725	 	 	2,784	 	 	2,925	 	 	3,024	 	 	3,024	
 	 			 			 			 			 			 			 			 			
 	 	$	9,777	 	$	9,998	 	$	9,162	 	$	9,408	 	$	9,541	 	$	9,329	 	$	9,385	 	$	9,461	
 	 			 			 			 			 			 			 			 			
Funding agreements by liquidity provisions:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
7 day	 	$	—  	 	$	—  	 	$	—  	 	$	—  	 	$	—  	 	$	50	 	$	100	 	$	100	
30 day	 	 	—  	 	 	—  	 	 	—  	 	 	—  	 	 	—  	 	 	150	 	 	200	 	 	350	
90 day	 	 	558	 	 	858	 	 	1,108	 	 	1,308	 	 	1,518	 	 	1,610	 	 	1,660	 	 	1,960	
180 day	 	 	450	 	 	550	 	 	350	 	 	150	 	 	100	 	 	—  	 	 	—  	 	 	—  	
No put	 	 	1,385	 	 	1,035	 	 	985	 	 	1,010	 	 	900	 	 	850	 	 	850	 	 	500	
13 month rolling maturity	 	 	275	 	 	275	 	 	275	 	 	250	 	 	250	 	 	250	 	 	200	 	 	100	
Accrued interest	 	 	10	 	 	9	 	 	8	 	 	7	 	 	16	 	 	15	 	 	14	 	 	14	
 	 			 			 			 			 			 			 			 			
Total funding agreements	 	$	2,678	 	$	2,727	 	$	2,726	 	$	2,725	 	$	2,784	 	$	2,925	 	$	3,024	 	$	3,024	

40

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Sales
(amounts in millions)

 	 	2005
	 	2004
	
 	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	 	Q4
	 	Total
	
Protection Segment	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
								
Annualized first-year premiums: (a)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
								
Term life	 	$	37	 	$	38	 	$	34	 	$	29	 	$	138	 	$	27	 	$	102	
Financial Intermediaries	 	 	1	 	 	1	 	 	1	 	 	2	 	 	5	 	 	2	 	 	7	
Independent Producers	 	 	36	 	 	37	 	 	33	 	 	27	 	 	133	 	 	25	 	 	95	
								
Universal life	 	 	27	 	 	19	 	 	14	 	 	13	 	 	73	 	 	12	 	 	42	
Financial Intermediaries	 	 	—  	 	 	—  	 	 	—  	 	 	1	 	 	1	 	 	—  	 	 	1	
Independent Producers	 	 	27	 	 	19	 	 	14	 	 	12	 	 	72	 	 	12	 	 	40	
Dedicated Sales Specialists	 	 	—  	 	 	—  	 	 	—  	 	 	—  	 	 	—  	 	 	—  	 	 	1	
								
Long-term care	 	 	46	 	 	41	 	 	42	 	 	41	 	 	170	 	 	41	 	 	162	
Financial Intermediaries	 	 	9	 	 	10	 	 	9	 	 	10	 	 	38	 	 	11	 	 	41	
Independent Producers	 	 	16	 	 	14	 	 	16	 	 	14	 	 	60	 	 	12	 	 	47	
Independent Channels	 	 	25	 	 	24	 	 	25	 	 	24	 	 	98	 	 	23	 	 	88	
Dedicated Sales Specialists	 	 	21	 	 	17	 	 	17	 	 	17	 	 	72	 	 	18	 	 	74	
								
Group life and health	 	 	69	 	 	37	 	 	38	 	 	30	 	 	174	 	 	66	 	 	171	
Independent Producers	 	 	69	 	 	37	 	 	38	 	 	30	 	 	174	 	 	66	 	 	171	
 	 			 			 			 			 			 			 			
Total annualized first-year premiums	 	 	179	 	 	135	 	 	128	 	 	113	 	 	555	 	 	146	 	 	477	

Written premiums: (b)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Payment protection	 	 	421	 	 	454	 	 	501	 	 	453	 	 	1,829	 	 	351	 	 	1,501	
 	 			 			 			 			 			 			 			
Total protection segment	 	$	600	 	$	589	 	$	629	 	$	566	 	$	2,384	 	$	497	 	$	1,978	

(a)	In our Protection segment, sales from our term life, long-term care and group life and health insurance products represent annualized first-year premiums. Annualized first-year premiums are calculated as if premiums are consistently paid for the full period of the sale even if they were actually paid for only a portion of such period. Sales from our universal life product represent annualized first year premiums and deposits.	
(b)	In our Protection segment, sales from our payment protection insurance business represent total written premiums gross of reinsurance and cancellations during the specified period.	
 
41

Table of Contents
GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Sales, continued
(amounts in millions)

 	  	2005
	  	2004
	
 	  	Q4
	  	Q3
	  	Q2
	  	Q1
	  	Total
	  	Q4
	  	Total
	
Retirement Income and Investments (RI&I) Segment (c)	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
								
Spread-based retail Structured Annuities (d)	  	$	51	  	$	50	  	$	93	  	$	153	  	$	347	  	$	104	  	$	535	
								
Income annuities	  	 	193	  	 	190	  	 	164	  	 	166	  	 	713	  	 	212	  	 	764	
Financial Intermediaries	  	 	131	  	 	119	  	 	103	  	 	88	  	 	441	  	 	127	  	 	459	
Independent Producers	  	 	58	  	 	67	  	 	57	  	 	70	  	 	252	  	 	79	  	 	288	
Dedicated Sales Specialists	  	 	4	  	 	4	  	 	4	  	 	8	  	 	20	  	 	6	  	 	17	
								
Fixed annuities	  	 	343	  	 	378	  	 	686	  	 	364	  	 	1,771	  	 	283	  	 	1,719	
Financial Intermediaries	  	 	336	  	 	368	  	 	668	  	 	353	  	 	1,725	  	 	276	  	 	1,677	
Independent Producers	  	 	4	  	 	7	  	 	14	  	 	7	  	 	32	  	 	4	  	 	25	
Dedicated Sales Specialists	  	 	3	  	 	3	  	 	4	  	 	4	  	 	14	  	 	3	  	 	17	
 	  			  			  			  			  			  			  			
Total spread-based retail	  	 	587	  	 	618	  	 	943	  	 	683	  	 	2,831	  	 	599	  	 	3,018	

Fee-based	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
Variable Annuities (e)	  	 	335	  	 	241	  	 	254	  	 	264	  	 	1,094	  	 	256	  	 	1,075	
Financial Intermediaries	  	 	305	  	 	219	  	 	238	  	 	244	  	 	1,006	  	 	236	  	 	1,002	
Independent Producers	  	 	10	  	 	7	  	 	6	  	 	9	  	 	32	  	 	8	  	 	33	
Dedicated Sales Specialists	  	 	20	  	 	15	  	 	10	  	 	11	  	 	56	  	 	12	  	 	40	
								
Variable life	  	 	3	  	 	3	  	 	5	  	 	3	  	 	14	  	 	4	  	 	18	
Financial Intermediaries	  	 	3	  	 	2	  	 	5	  	 	3	  	 	13	  	 	3	  	 	14	
Independent Producers	  	 	—  	  	 	1	  	 	—  	  	 	—  	  	 	1	  	 	1	  	 	3	
Dedicated Sales Specialists	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	—  	  	 	1	
								
Managed assets	  	 	473	  	 	429	  	 	378	  	 	323	  	 	1,603	  	 	301	  	 	1,143	
Independent Producers	  	 	226	  	 	210	  	 	222	  	 	193	  	 	851	  	 	161	  	 	642	
Dedicated Sales Specialists	  	 	247	  	 	219	  	 	156	  	 	130	  	 	752	  	 	140	  	 	501	
 	  			  			  			  			  			  			  			
Total fee-based	  	 	811	  	 	673	  	 	637	  	 	590	  	 	2,711	  	 	561	  	 	2,236	
 	  			  			  			  			  			  			  			
Spread-based institutional (d)	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
Guaranteed investment contracts (GICs)	  	 	31	  	 	81	  	 	105	  	 	49	  	 	266	  	 	96	  	 	361	
Funding agreements backing notes	  	 	500	  	 	1,000	  	 	150	  	 	300	  	 	1,950	  	 	600	  	 	1,490	
Funding agreements	  	 	—  	  	 	—  	  	 	100	  	 	—  	  	 	100	  	 	100	  	 	300	
 	  			  			  			  			  			  			  			
Total spread-based institutional	  	 	531	  	 	1,081	  	 	355	  	 	349	  	 	2,316	  	 	796	  	 	2,151	
 	  			  			  			  			  			  			  			
Total RI&I segment	  	$	1,929	  	$	2,372	  	$	1,935	  	$	1,622	  	$	7,858	  	$	1,956	  	$	7,405	
 	  			  			  			  			  			  			  			
Mortgage Insurance Segment (f)	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
New insurance written:	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
U.S. Mortgage Insurance	  	$	6,690	  	$	7,220	  	$	7,220	  	$	5,666	  	$	26,796	  	$	7,074	  	$	28,133	
Flow	  	 	6,567	  	 	7,073	  	 	6,533	  	 	4,983	  	 	25,156	  	 	6,338	  	 	24,425	
Bulk	  	 	62	  	 	147	  	 	687	  	 	683	  	 	1,579	  	 	736	  	 	3,708	
Pool	  	 	61	  	 	—  	  	 	—  	  	 	—  	  	 	61	  	 	—  	  	 	—  	
								
International Mortgage Insurance	  	 	21,880	  	 	21,030	  	 	21,403	  	 	14,243	  	 	78,556	  	 	15,225	  	 	51,838	
Flow	  	 	19,230	  	 	18,556	  	 	14,070	  	 	12,743	  	 	64,599	  	 	13,842	  	 	49,170	
Bulk	  	 	2,650	  	 	2,474	  	 	7,333	  	 	1,500	  	 	13,957	  	 	1,383	  	 	2,668	
 	  			  			  			  			  			  			  			
Total Mortgage Insurance segment	  	$	28,570	  	$	28,250	  	$	28,623	  	$	19,909	  	$	105,352	  	$	22,299	  	$	79,971	

(c)	In our Retirement Income and Investments segment, sales from our life-contingent spread-based retail products represent annualized first-year premiums. Annualized first-year premiums are calculated as if premiums are consistently paid for the full period of the sale even if they were actually paid for only a portion of such period. Sales from our non-life-contingent spread-based retail products, as well as our fee-based and spread-based institutional products, represent new and additional premiums/deposits.	
(d)	All Structured Annuities and institutional products are sold by independent producers	
(e)	Sales from our variable annuities include additional deposits on existing policies, including policies reinsured in connection with our corporate reorganization. Following is a table representing the additional deposits on policies reinsured:	

 	  	2005
	  	2004
	
 	  	  Q4  
	  	  Q3  
	  	  Q2  
	  	  Q1  
	  	Total
	  	  Q4  
	
 	  	$	10	  	$	17	  	$	28	  	$	38	  	$	93	  	$	50	
 
(f)	In our Mortgage Insurance segment, all sales represent new insurance written. New insurance written represents the original principal balance of mortgages covered by newly issued primary mortgage insurance during the specified period.	
 
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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Selected Key Performance Measures—Mortgage Insurance
(dollar amounts in millions)

 	    	As of or for the three months ended
December 31,
	 	
 	    	        2005        
	 	  	        2004        
	 	
Primary Insurance in Force	    	 	 	 	  	 	 	 	
U.S. Mortgage Insurance	    	$	100,200	 	  	$	108,900	 	
International Mortgage Insurance	    	 	244,200	 	  	 	192,600	 	
 	    				  				
Total primary insurance in force	    	$	344,400	 	  	$	301,500	 	
 	    				  				
Total Risk in Force	    	 	 	 	  	 	 	 	
U.S. Mortgage Insurance	    	$	22,300	 	  	$	23,700	 	
International Mortgage Insurance (a)	    	 	79,000	 	  	 	62,000	 	
 	    				  				
Total risk in force	    	$	101,300	 	  	$	85,700	 	
 	    				  				
New Insurance Written	    	 	 	 	  	 	 	 	
U.S. Mortgage Insurance	    	$	6,700	 	  	$	7,100	 	
International Mortgage Insurance	    	 	21,900	 	  	 	15,200	 	
 	    				  				
Total new insurance written	    	$	28,600	 	  	$	22,300	 	
 	    				  				
Net Premiums Written	    	 	 	 	  	 	 	 	
U.S. Mortgage Insurance	    	$	112	 	  	$	111	 	
International Mortgage Insurance	    	 	212	 	  	 	169	 	
 	    				  				
Total net premiums written	    	$	324	 	  	$	280	 	
 	    				  				
Loss Ratio (b)	    	 	 	 	  	 	 	 	
U.S. Mortgage Insurance	    	 	45	%	  	 	35	%	
International Mortgage Insurance	    	 	14	%	  	 	14	%	
Total loss ratio	    	 	29	%	  	 	25	%	
			
Expense Ratio (c)	    	 	 	 	  	 	 	 	
U.S. Mortgage Insurance	    	 	42	%	  	 	44	%	
International Mortgage Insurance	    	 	19	%	  	 	21	%	
Total expense ratio	    	 	27	%	  	 	30	%	

(a)	Our businesses in Australia, New Zealand and Canada currently provide 100% coverage on the majority of the loans we insure in those markets. For the purpose of representing our risk in force, we have computed an “Effective Risk in Force” amount, which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in force has been calculated by applying to insurance in force a factor that represents our highest expected average per-claim payment for any one underwriting year over the life of our businesses in Australia, New Zealand and Canada. As of December 31, 2005 and 2004, this factor was 35%.	
(b)	The ratio of incurred losses and loss adjustment expense to net premiums earned.	
(c)	The ratio of an insurer’s general expenses to net premiums written. In our business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.	
 
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GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Selected Key Performance Measures—Mortgage Insurance, U.S. Only
(dollar amounts in millions)

 	    	As of or for the three months ended
December 31,
	 	
 	    	        2005        
	 	  	        2004        
	 	
New Risk Written	    	 	 	 	  	 	 	 	
Flow	    	$	1,667	 	  	$	1,638	 	
Bulk	    	 	2	 	  	 	9	 	
 	    				  				
Total Primary	    	 	1,669	 	  	 	1,647	 	
Pool	    	 	2	 	  	 	—  	 	
 	    				  				
Total	    	$	1,671	 	  	$	1,647	 	
 	    				  				
Risk in Force	    	 	 	 	  	 	 	 	
Flow	    	$	21,375	 	  	$	22,666	 	
Bulk	    	 	363	 	  	 	303	 	
 	    				  				
Total Primary	    	 	21,738	 	  	 	22,969	 	
Pool	    	 	554	 	  	 	736	 	
 	    				  				
Total	    	$	22,292	 	  	$	23,705	 	
 	    				  				
Risk in Force by Credit Quality	    	 	 	 	  	 	 	 	
Flow by FICO Scores >619 (%)	    	 	92	%	  	 	92	%	
Flow by FICO Scores 575-619	    	 	6	%	  	 	6	%	
Flow by FICO Scores <575	    	 	2	%	  	 	2	%	
			
Bulk by FICO Scores >619	    	 	96	%	  	 	91	%	
Bulk by FICO Scores 575-619	    	 	2	%	  	 	5	%	
Bulk by FICO Scores <575	    	 	2	%	  	 	4	%	
			
Primary A minus and sub-prime	    	 	10.4	%	  	 	9.9	%	
			
Primary Loans	    	 	 	 	  	 	 	 	
Primary total loans in force	    	 	744,970	 	  	 	830,688	 	
Primary total loans in default	    	 	27,391	 	  	 	28,467	 	
Primary loans total default rate	    	 	3.7	%	  	 	3.4	%	
			
Flow loans in default	    	 	26,163	 	  	 	26,737	 	
Flow loans default rate	    	 	4.1	%	  	 	3.7	%	
			
Bulk loans in default	    	 	1,228	 	  	 	1,730	 	
Bulk loans default rate	    	 	1.2	%	  	 	1.6	%	
			
A minus and sub-prime loans in default	    	 	7,072	 	  	 	7,068	 	
A minus and sub-prime loans default rate	    	 	10.5	%	  	 	10.1	%	
			
Pool Loans	    	 	 	 	  	 	 	 	
Pool loans in default	    	 	597	 	  	 	777	 	
Pool loans default rate	    	 	3.1	%	  	 	3.1	%	
			
Claims Paid	    	 	 	 	  	 	 	 	
Primary Claims Paid (includes LAE)	    	 	33.8	 	  	 	38.4	 	
Pool Claims Paid (includes LAE)	    	 	0.1	 	  	 	0.1	 	
Primary Average Claim Severity	    	 	95	%	  	 	96	%	
			
Other Measures	    	 	 	 	  	 	 	 	
Flow Persistency (a)	    	 	68	%	  	 	64	%	
Gross written premiums ceded to captives/total gross written premiums	    	 	24	%	  	 	25	%	
Risk to capital ratio (b)	    	 	8.2:1	 	  	 	7.7:1	 	

(a)	Excludes bulk transactions and the effect of periodic reconciliations involving single premium mortgage insurance. Including the effect of the periodic reconcilations, flow persistency would be 65% and 59% for the three months ended December 31, 2005 and December 31, 2004, respectively.	
(b)	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 contingent reserve, commonly known as the “risk to capital” requirement. The risk to capital ratio for our U.S. mortgage insurance business was computed as of September 30, 2005 and September 30, 2004.	
 
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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Fourth Quarter Results
 
Twelve months ended December 31, 2005 as compared to
pro forma twelve months ended December 31, 2004
 
45

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Financial Highlights
(amounts in millions, except per share data)

EARNINGS BY SEGMENT
	  	Twelve months ended
December 31, 2005
	 	 	Pro forma Twelve months
ended December 31, 2004
	 	
Earnings (loss) from continuing operations before income taxes	  	 	 	 	 	 	 	 	
Protection	  	$	885	 	 	$	832	 	
Retirement Income and Investments	  	 	352	 	 	 	230	 	
Mortgage Insurance	  	 	707	 	 	 	612	 	
Corporate and Other	  	 	(146	)	 	 	(50	)	
 	  				 				
Earnings (loss) from continuing operations before income taxes	  	$	1,798	 	 	$	1,624	 	
 	  				 				
Net earnings (loss) from continuing operations	  	 	 	 	 	 	 	 	
Protection	  	$	568	 	 	$	527	 	
Retirement Income and Investments	  	 	247	 	 	 	148	 	
Mortgage Insurance	  	 	507	 	 	 	426	 	
Corporate and Other (see reconciliation below)	  	 	(101	)	 	 	29	 	
 	  				 				
Net earnings (loss) from continuing operations	  	$	1,221	 	 	$	1,130	 	
 	  				 				
Net operating earnings (loss)	  	 	 	 	 	 	 	 	
Protection	  	$	568	 	 	$	527	 	
Retirement Income and Investments	  	 	247	 	 	 	148	 	
Mortgage Insurance	  	 	507	 	 	 	426	 	
Corporate and Other (see reconciliation below)	  	 	(100	)	 	 	(57	)	
 	  				 				
Net operating earnings (loss)	  	$	1,222	 	 	$	1,044	 	

EARNINGS PER COMMON SHARE
	  	For the
Twelve months ended
December 31, 2005
	 	 	Pro forma for the
Twelve months ended
December 31, 2004
	 	
Net earnings from continuing operations per common share	  	 	 	 	 	 	 	 	
Basic	  	$	2.57	 	 	$	2.31	 	
 	  				 				
Diluted	  	$	2.52	 	 	$	2.30	 	
 	  				 				
Net operating earnings per common share	  	 	 	 	 	 	 	 	
Basic	  	$	2.57	 	 	$	2.13	 	
 	  				 				
Diluted	  	$	2.52	 	 	$	2.13	 	
 	  				 				
Weighted-average common shares outstanding	  	 	 	 	 	 	 	 	
Basic	  	 	475.3	 	 	 	489.5	 	
 	  				 				
Diluted	  	 	484.6	 	 	 	490.5	 	

Reconciliation of Corporate and Other segment net loss to segment net operating loss and pro forma segment net operating loss
									
 	  	Twelve months ended December 31,
	 	
 	  	  2005  
	 	 	  2004  
	 	
Segment net (loss) earnings from continuing operations	  	$	(101	)	 	$	52	 	
Net realized investment losses (gains), net of taxes	  	 	1	 	 	 	(16	)	
Net tax expense related to initial public offering	  	 	—  	 	 	 	(46	)	
Gain on outsourcing services agreement, net of taxes	  	 	—  	 	 	 	(25	)	
 	  				 				
Segment net operating loss	  	$	(100	)	 	$	(35	)	
 	  				 				
Segment net (loss) earnings from continuing operations	  	 	 	 	 	$	52	 	
Excluded assets and liabilities (a)	  	 	 	 	 	 	(7	)	
Reinsurance transactions (b)	  	 	 	 	 	 	2	 	
Capital structure and other (c)	  	 	 	 	 	 	(18	)	
 	  	 	 	 	 				
Pro forma segment net loss	  	 	 	 	 	 	29	 	
 	  	 	 	 	 				
Net realized investment gains, net of taxes	  	 	 	 	 	 	(15	)	
Net tax expense related to initial public offering	  	 	 	 	 	 	(46	)	
Gain on outsourcing services agreement, net of taxes	  	 	 	 	 	 	(25	)	
 	  	 	 	 	 				
Pro forma segment net operating loss	  	 	 	 	 	$	(57	)	

Note:	For a discussion of notes (a), (b), and (c) to these tables see Notes To Pro Forma Financial Information on page 8.	
 
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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Earnings From Continuing Operations
(amounts in millions)

 	  	Twelve months ended
December 31, 2005
	 	 	Pro forma
Twelve months ended
December 31, 2004
	 	
REVENUES:	  	 	 	 	 	 	 	 	
Premiums	  	$	6,297	 	 	$	6,388	 	
Net investment income	  	 	3,536	 	 	 	3,160	 	
Net realized investment (losses) gains	  	 	(2	)	 	 	23	 	
Policy fees and other income	  	 	673	 	 	 	664	 	
 	  				 				
Total revenues	  	 	10,504	 	 	 	10,235	 	
 	  				 				
BENEFITS AND EXPENSES:	  	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	4,205	 	 	 	4,340	 	
Interest credited	  	 	1,425	 	 	 	1,319	 	
Acquisition and operating expenses, net of deferrals	  	 	1,989	 	 	 	1,747	 	
Amortization of deferred acquisition costs and intangibles	  	 	794	 	 	 	962	 	
Interest expense	  	 	293	 	 	 	243	 	
 	  				 				
Total benefits and expenses	  	 	8,706	 	 	 	8,611	 	
 	  				 				
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND ACCOUNTING CHANGE	  	 	1,798	 	 	 	1,624	 	
Provision for income taxes	  	 	577	 	 	 	494	 	
Effective tax rate	  	 	32.1	%	 	 	30.4	%	
 	  				 				
NET EARNINGS FROM CONTINUING OPERATIONS BEFORE ACCOUNTING CHANGE	  	$	1,221	 	 	$	1,130	 	

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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Fourth Quarter Results by Segment
 
Twelve months ended December 31, 2005 as compared to
pro forma twelve months ended December 31, 2004
 
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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Statement of Earnings by Segment
(amounts in millions)

Twelve months ended December 31, 2005
	  	Protection
	  	Retirement
Income and
Investments
	  	Mortgage
Insurance
	 	Corporate
and Other
	 	 	Total
	 	
REVENUES:	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	
Premiums	  	$	4,476	  	$	855	  	$	882	 	$	84	    	 	$	6,297	 	
Net investment income	  	 	1,284	  	 	1,813	  	 	287	 	 	152	 	 	 	3,536	 	
Net realized investment losses	  	 	—  	  	 	—  	  	 	—  	 	 	(2	)	 	 	(2	)	
Policy fees and other income	  	 	366	  	 	244	  	 	45	 	 	18	 	 	 	673	 	
 	  			  			  			 				 				
Total revenues	  	 	6,126	  	 	2,912	  	 	1,214	 	 	252	 	 	 	10,504	 	
 	  			  			  			 				 				
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	2,894	  	 	1,111	  	 	162	 	 	38	 	 	 	4,205	 	
Interest credited	  	 	369	  	 	1,056	  	 	—  	 	 	—  	 	 	 	1,425	 	
Acquisition and operating expenses, net of deferrals	  	 	1,337	  	 	259	  	 	289	 	 	104	 	 	 	1,989	 	
Amortization of deferred acquisition costs and intangibles	  	 	589	  	 	131	  	 	56	 	 	18	 	 	 	794	 	
Interest expense	  	 	52	  	 	3	  	 	—  	 	 	238	 	 	 	293	 	
 	  			  			  			 				 				
Total benefits and expenses	  	 	5,241	  	 	2,560	  	 	507	 	 	398	 	 	 	8,706	 	
 	  			  			  			 				 				
EARNINGS (LOSS) BEFORE INCOME TAXES	  	 	885	  	 	352	  	 	707	 	 	(146	)	 	 	1,798	 	
Provision for (benefit from) income taxes	  	 	317	  	 	105	  	 	200	 	 	(45	)	 	 	577	 	
 	  			  			  			 				 				
NET EARNINGS (LOSS)	  	 	568	  	 	247	  	 	507	 	 	(101	)	 	 	1,221	 	
Net realized investment losses, net of taxes	  	 	—  	  	 	—  	  	 	—  	 	 	1	 	 	 	1	 	
 	  			  			  			 				 				
NET OPERATING EARNINGS (LOSS)	  	$	568	  	$	247	  	$	507	 	$	(100	)	 	$	1,222	 	

 
																		
Pro forma twelve months ended December 31, 2004
	  	Protection
	  	Retirement
Income and
Investments
	  	Mortgage
Insurance
	 	Corporate
and Other
	 	 	Pro forma
total
	 	
REVENUES:	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	
Premiums	  	$	4,398	  	$	1,094	  	$	800	 	$	96	    	 	$	6,388	 	
Net investment income	  	 	1,178	  	 	1,582	  	 	254	 	 	146	 	 	 	3,160	 	
Net realized investment gains	  	 	—  	  	 	—  	  	 	—  	 	 	23	 	 	 	23	 	
Policy fees and other income	  	 	359	  	 	215	  	 	36	 	 	54	 	 	 	664	 	
 	  			  			  			 				 				
Total revenues	  	 	5,935	  	 	2,891	  	 	1,090	 	 	319	 	 	 	10,235	 	
 	  			  			  			 				 				
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	2,788	  	 	1,352	  	 	165	 	 	35	 	 	 	4,340	 	
Interest credited	  	 	362	  	 	957	  	 	—  	 	 	—  	 	 	 	1,319	 	
Acquisition and operating expenses, net of deferrals	  	 	1,167	  	 	229	  	 	262	 	 	89	 	 	 	1,747	 	
Amortization of deferred acquisition costs and intangibles	  	 	771	  	 	122	  	 	51	 	 	18	 	 	 	962	 	
Interest expense	  	 	15	  	 	1	  	 	—  	 	 	227	 	 	 	243	 	
 	  			  			  			 				 				
Total benefits and expenses	  	 	5,103	  	 	2,661	  	 	478	 	 	369	 	 	 	8,611	 	
 	  			  			  			 				 				
EARNINGS (LOSS) BEFORE INCOME TAXES	  	 	832	  	 	230	  	 	612	 	 	(50	)	 	 	1,624	 	
Provision for (benefit from) income taxes	  	 	305	  	 	82	  	 	186	 	 	(79	)	 	 	494	 	
 	  			  			  			 				 				
NET EARNINGS (LOSS)	  	 	527	  	 	148	  	 	426	 	 	29	 	 	 	1,130	 	
Net realized investment gains, net of taxes	  	 	—  	  	 	—  	  	 	—  	 	 	(15	)	 	 	(15	)	
Net tax benefit related to initial public offering	  	 	—  	  	 	—  	  	 	—  	 	 	(46	)	 	 	(46	)	
Gain on outsourcing service agreement, net of taxes	  	 	—  	  	 	—  	  	 	—  	 	 	(25	)	 	 	(25	)	
 	  			  			  			 				 				
NET OPERATING EARNINGS (LOSS)	  	$	527	  	$	148	  	$	426	 	$	(57	)	 	$	1,044	 	

 
49

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Protection
(amounts in millions)

Twelve months ended December 31, 2005
	  	Life
	  	Long-Term
Care
	  	Payment
Protection
	  	Group Life
and Health
	 	 	    Total    
	
REVENUES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	813	  	$	1,680	  	$	1,324	  	$	659	    	 	$	4,476	
Net investment income	  	 	493	  	 	652	  	 	94	  	 	45	 	 	 	1,284	
Policy fees and other income	  	 	317	  	 	15	  	 	21	  	 	13	 	 	 	366	
 	  			  			  			  				 			
Total revenues	  	 	1,623	  	 	2,347	  	 	1,439	  	 	717	 	 	 	6,126	
 	  			  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	663	  	 	1,547	  	 	231	  	 	453	 	 	 	2,894	
Interest credited	  	 	235	  	 	132	  	 	—  	  	 	2	 	 	 	369	
Acquisition and operating expenses, net of deferrals	  	 	134	  	 	298	  	 	734	  	 	171	 	 	 	1,337	
Amortization of deferred acquisition costs and intangibles	  	 	111	  	 	103	  	 	332	  	 	43	 	 	 	589	
Interest expense	  	 	52	  	 	—  	  	 	—  	  	 	—  	 	 	 	52	
 	  			  			  			  				 			
Total benefits and expenses	  	 	1,195	  	 	2,080	  	 	1,297	  	 	669	 	 	 	5,241	
 	  			  			  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	428	  	 	267	  	 	142	  	 	48	 	 	 	885	
Provision for income taxes	  	 	153	  	 	95	  	 	52	  	 	17	 	 	 	317	
 	  			  			  			  				 			
SEGMENT NET EARNINGS	  	$	275	  	$	172	  	$	90	  	$	31	 	 	$	568	

 	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Pro forma twelve months ended December 31, 2004
	  	Life
	  	Long-Term
Care
	  	Payment
Protection
	  	Group Life
and Health
	 	 	Pro forma
total
	
REVENUES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Premiums	  	$	759	  	$	1,589	  	$	1,427	  	$	623	    	 	$	4,398	
Net investment income	  	 	444	  	 	585	  	 	106	  	 	43	 	 	 	1,178	
Policy fees and other income	  	 	315	  	 	8	  	 	16	  	 	20	 	 	 	359	
 	  			  			  			  				 			
Total revenues	  	 	1,518	  	 	2,182	  	 	1,549	  	 	686	 	 	 	5,935	
 	  			  			  			  				 			
BENEFITS AND EXPENSES:	  	 	 	  	 	 	  	 	 	  	 	 	 	 	 	 	
Benefits and other changes in policy reserves	  	 	633	  	 	1,463	  	 	263	  	 	429	 	 	 	2,788	
Interest credited	  	 	242	  	 	119	  	 	—  	  	 	1	 	 	 	362	
Acquisition and operating expenses, net of deferrals	  	 	117	  	 	257	  	 	617	  	 	176	 	 	 	1,167	
Amortization of deferred acquisition costs and intangibles	  	 	125	  	 	77	  	 	535	  	 	34	 	 	 	771	
Interest expense	  	 	15	  	 	—  	  	 	—  	  	 	—  	 	 	 	15	
 	  			  			  			  				 			
Total benefits and expenses	  	 	1,132	  	 	1,916	  	 	1,415	  	 	640	 	 	 	5,103	
 	  			  			  			  				 			
EARNINGS BEFORE INCOME TAXES	  	 	386	  	 	266	  	 	134	  	 	46	 	 	 	832	
Provision for income taxes	  	 	141	  	 	95	  	 	53	  	 	16	 	 	 	305	
 	  			  			  			  				 			
SEGMENT NET EARNINGS	  	$	245	  	$	171	  	$	81	  	$	30	 	 	$	527	

 
Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
50

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Retirement Income and Investments
(amounts in millions)

Twelve months ended December 31, 2005
	 	Spread-Based
Retail
Products
	 	Fee-Based
Products
	 	Spread-Based
Institutional
Products
	 	 	Total
	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	855	 	$	—  	 	$	—  	    	 	$	855	
Net investment income	 	 	1,352	 	 	19	 	 	442	 	 	 	1,813	
Policy fees and other income	 	 	17	 	 	227	 	 	—  	 	 	 	244	
 	 			 			 				 			
Total revenues	 	 	2,224	 	 	246	 	 	442	 	 	 	2,912	
 	 			 			 				 			
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	1,104	 	 	7	 	 	—  	 	 	 	1,111	
Interest credited	 	 	668	 	 	13	 	 	375	 	 	 	1,056	
Acquisition and operating expenses, net of deferrals	 	 	118	 	 	131	 	 	10	 	 	 	259	
Amortization of deferred acquisition costs and intangibles	 	 	114	 	 	17	 	 	—  	 	 	 	131	
Interest expense	 	 	3	 	 	—  	 	 	—  	 	 	 	3	
 	 			 			 				 			
Total benefits and expenses	 	 	2,007	 	 	168	 	 	385	 	 	 	2,560	
 	 			 			 				 			
EARNINGS BEFORE INCOME TAXES	 	 	217	 	 	78	 	 	57	 	 	 	352	
Provision for income taxes	 	 	66	 	 	19	 	 	20	 	 	 	105	
 	 			 			 				 			
SEGMENT NET EARNINGS	 	$	151	 	$	59	 	$	37	 	 	$	247	

Pro forma twelve months ended December 31, 2004
	 	Spread-Based
Retail
Products
	 	Fee-Based
Products
	 	Spread-Based
Institutional
Products
	 	 	Pro forma
total
	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	1,094	 	$	—  	 	$	—  	 	 	$	1,094	
Net investment income	 	 	1,239	 	 	11	 	 	332	    	 	 	1,582	
Policy fees and other income	 	 	14	 	 	201	 	 	—  	 	 	 	215	
 	 			 			 				 			
Total revenues	 	 	2,347	 	 	212	 	 	332	 	 	 	2,891	
 	 			 			 				 			
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	1,345	 	 	7	 	 	—  	 	 	 	1,352	
Interest credited	 	 	667	 	 	9	 	 	281	 	 	 	957	
Acquisition and operating expenses, net of deferrals	 	 	111	 	 	114	 	 	4	 	 	 	229	
Amortization of deferred acquisition costs and intangibles	 	 	106	 	 	16	 	 	—  	 	 	 	122	
Interest expense	 	 	1	 	 	—  	 	 	—  	 	 	 	1	
 	 			 			 				 			
Total benefits and expenses	 	 	2,230	 	 	146	 	 	285	 	 	 	2,661	
 	 			 			 				 			
EARNINGS BEFORE INCOME TAXES	 	 	117	 	 	66	 	 	47	 	 	 	230	
Provision for income taxes	 	 	46	 	 	19	 	 	17	 	 	 	82	
 	 			 			 				 			
SEGMENT NET EARNINGS	 	$	71	 	$	47	 	$	30	 	 	$	148	

Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
51

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Mortgage Insurance
(amounts in millions)

Twelve months ended December 31, 2005
	 	U. S.
	 	International
	 	 	Total
	
REVENUES:	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	447	 	$	435	    	 	$	882	
Net investment income	 	 	130	 	 	157	 	 	 	287	
Policy fees and other income	 	 	26	 	 	19	 	 	 	45	
 	 			 				 			
Total revenues	 	 	603	 	 	611	 	 	 	1,214	
 	 			 				 			
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	117	 	 	45	 	 	 	162	
Acquisition and operating expenses, net of deferrals	 	 	161	 	 	128	 	 	 	289	
Amortization of deferred acquisition costs and intangibles	 	 	35	 	 	21	 	 	 	56	
 	 			 				 			
Total benefits and expenses	 	 	313	 	 	194	 	 	 	507	
 	 			 				 			
EARNINGS BEFORE INCOME TAXES	 	 	290	 	 	417	 	 	 	707	
Provision for income taxes	 	 	52	 	 	148	 	 	 	200	
 	 			 				 			
SEGMENT NET EARNINGS	 	$	238	 	$	269	 	 	$	507	

Pro forma Twelve months ended December 31, 2004
	 	U. S.
	 	International
	 	 	Pro forma
total
	
REVENUES:	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	460	 	$	340	    	 	$	800	
Net investment income	 	 	132	 	 	122	 	 	 	254	
Policy fees and other income	 	 	17	 	 	19	 	 	 	36	
 	 			 				 			
Total revenues	 	 	609	 	 	481	 	 	 	1,090	
 	 			 				 			
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	127	 	 	38	 	 	 	165	
Acquisition and operating expenses, net of deferrals	 	 	163	 	 	99	 	 	 	262	
Amortization of deferred acquisition costs and intangibles	 	 	31	 	 	20	 	 	 	51	
 	 			 				 			
Total benefits and expenses	 	 	321	 	 	157	 	 	 	478	
 	 			 				 			
EARNINGS BEFORE INCOME TAXES	 	 	288	 	 	324	 	 	 	612	
Provision for income taxes	 	 	64	 	 	122	 	 	 	186	
 	 			 				 			
SEGMENT NET EARNINGS	 	$	224	 	$	202	 	 	$	426	

Pro Forma Segment Net Earnings is equivalent to Segment Net Earnings for the Mortgage Insurance Segment. Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
52

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Corporate and Other
(amounts in millions)

Twelve months ended December 31, 2005
	  	Total
	 	
REVENUES:	  	 	 	 	
Premiums	  	$	84	 	
Net investment income	  	 	152	 	
Net realized investment losses	  	 	(2	)	
Policy fees and other income	  	 	18	 	
 	  				
Total revenues	  	 	252	 	
 	  				
BENEFITS AND EXPENSES:	  	 	 	 	
Benefits and other changes in policy reserves	  	 	38	 	
Acquisition and operating expenses, net of deferrals	  	 	104	 	
Amortization of deferred acquisition costs and intangibles	  	 	18	 	
Interest expense	  	 	238	 	
 	  				
Total benefits and expenses	  	 	398	 	
 	  				
LOSS BEFORE INCOME TAXES	  	 	(146	)	
Benefit from income taxes	  	 	(45	)	
 	  				
SEGMENT NET LOSS	  	 	(101	)	
Net realized investment losses, net of taxes	  	 	1	 	
 	  				
NET OPERATING LOSS	  	$	(100	)	

Pro forma twelve months ended December 31, 2004
	  	Pro forma
total
	 	
REVENUES:	  	 	 	 	
Premiums	  	$	96	 	
Net investment income	  	 	146	 	
Net realized investment gains	  	 	23	 	
Policy fees and other income	  	 	54	 	
 	  				
Total revenues	  	 	319	 	
 	  				
BENEFITS AND EXPENSES:	  	 	 	 	
Benefits and other changes in policy reserves	  	 	35	 	
Acquisition and operating expenses, net of deferrals	  	 	89	 	
Amortization of deferred acquisition costs and intangibles	  	 	18	 	
Interest expense	  	 	227	 	
 	  				
Total benefits and expenses	  	 	369	 	
 	  				
LOSS BEFORE INCOME TAXES	  	 	(50	)	
Benefit from income taxes	  	 	(79	)	
 	  				
SEGMENT NET GAIN	  	 	29	 	
Net realized investment gains, net of taxes	  	 	(15	)	
Net tax benefit related to initial public offering	  	 	(46	)	
Gain on outsourcing services agreement, net of taxes	  	 	(25	)	
 	  				
NET OPERATING LOSS	  	$	(57	)	

53

Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Net Earnings
(amounts in millions)

 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	PRO FORMA	 	
			
 	 	2005
	 	 	2004
	 	
 	 	Q4
	 	 	Q3
	 	 	Q2
	 	Q1
	 	 	Total
	 	 	Q4
	 	 	Q3
	 	 	Q2
	 	 	Q1
	 	 	Total
	 	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	1,531	 	 	$	1,547	 	 	$	1,614	 	$	1,605	 	 	$	6,297	 	 	$	1,606	 	 	$	1,523	 	 	$	1,640	 	 	$	1,619	 	 	$	6,388	 	
Net investment income	 	 	941	 	 	 	902	 	 	 	842	 	 	851	 	 	 	3,536	 	 	 	825	 	 	 	785	 	 	 	797	 	 	 	753	 	 	 	3,160	 	
Net realized investment (losses) gains	 	 	11	 	 	 	(7	)	 	 	—  	 	 	(6	)	 	 	(2	)	 	 	(1	)	 	 	3	 	 	 	6	 	 	 	15	 	 	 	23	 	
Policy fees and other income	 	 	172	 	 	 	186	 	 	 	154	 	 	161	 	 	 	673	 	 	 	212	 	 	 	159	 	 	 	144	 	 	 	149	 	 	 	664	 	
 	 				 				 			 				 				 				 				 				 				 				
Total revenues	 	 	2,655	 	 	 	2,628	 	 	 	2,610	 	 	2,611	 	 	 	10,504	 	 	 	2,642	 	 	 	2,470	 	 	 	2,587	 	 	 	2,536	 	 	 	10,235	 	
 	 				 				 			 				 				 				 				 				 				 				
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	1,053	 	 	 	1,026	 	 	 	1,051	 	 	1,075	 	 	 	4,205	 	 	 	1,129	 	 	 	1,034	 	 	 	1,097	 	 	 	1,080	 	 	 	4,340	 	
Interest credited	 	 	374	 	 	 	364	 	 	 	347	 	 	340	 	 	 	1,425	 	 	 	344	 	 	 	328	 	 	 	324	 	 	 	323	 	 	 	1,319	 	
Acquisition and operating expenses, net of deferrals	 	 	513	 	 	 	506	 	 	 	523	 	 	447	 	 	 	1,989	 	 	 	457	 	 	 	411	 	 	 	451	 	 	 	428	 	 	 	1,747	 	
Amortization of deferred acquisition costs and intangibles	 	 	176	 	 	 	217	 	 	 	208	 	 	193	 	 	 	794	 	 	 	234	 	 	 	230	 	 	 	229	 	 	 	269	 	 	 	962	 	
Interest expense	 	 	80	 	 	 	72	 	 	 	69	 	 	72	 	 	 	293	 	 	 	63	 	 	 	60	 	 	 	59	 	 	 	61	 	 	 	243	 	
 	 				 				 			 				 				 				 				 				 				 				
Total benefits and expenses	 	 	2,196	 	 	 	2,185	 	 	 	2,198	 	 	2,127	 	 	 	8,706	 	 	 	2,227	 	 	 	2,063	 	 	 	2,160	 	 	 	2,161	 	 	 	8,611	 	
 	 				 				 			 				 				 				 				 				 				 				
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	 	 	459	 	 	 	443	 	 	 	412	 	 	484	 	 	 	1,798	 	 	 	415	 	 	 	407	 	 	 	427	 	 	 	375	 	 	 	1,624	 	
Provision for income taxes	 	 	152	 	 	 	136	 	 	 	127	 	 	162	 	 	 	577	 	 	 	69	 	 	 	136	 	 	 	168	 	 	 	121	 	 	 	494	 	
 	 				 				 			 				 				 				 				 				 				 				
NET EARNINGS FROM CONTINUING OPERATIONS	 	 	307	 	 	 	307	 	 	 	285	 	 	322	 	 	 	1,221	 	 	 	346	 	 	 	271	 	 	 	259	 	 	 	254	 	 	 	1,130	 	
Net realized investment losses (gains), net of taxes	 	 	(7	)	 	 	4	 	 	 	—  	 	 	4	 	 	 	1	 	 	 	1	 	 	 	(2	)	 	 	(4	)	 	 	(10	)	 	 	(15	)	
Net tax (benefit) expense related to initial public offering	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	—  	 	 	 	—  	 	 	 	(68	)	 	 	—  	 	 	 	22	 	 	 	—  	 	 	 	(46	)	
Gain on outsourcing services agreement, net of taxes	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	—  	 	 	 	—  	 	 	 	(25	)	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(25	)	
 	 				 				 			 				 				 				 				 				 				 				
NET OPERATING EARNINGS	 	$	300	 	 	$	311	 	 	$	285	 	$	326	 	 	$	1,222	 	 	$	254	 	 	$	269	 	 	$	277	 	 	$	244	 	 	$	1,044	 	

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Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Protection
(amounts in millions)

 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	PRO FORMA	
			
 	 	2005
	 	2004
	
 	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	1,099	 	$	1,120	 	$	1,129	 	$	1,128	 	$	4,476	 	$	1,094	 	$	1,085	 	$	1,098	 	$	1,121	 	$	4,398	
Net investment income	 	 	338	 	 	321	 	 	311	 	 	314	 	 	1,284	 	 	311	 	 	298	 	 	288	 	 	281	 	 	1,178	
Policy fees and other income	 	 	93	 	 	108	 	 	77	 	 	88	 	 	366	 	 	102	 	 	91	 	 	79	 	 	87	 	 	359	
 	 			 			 			 			 			 			 			 			 			 			
Total revenues	 	 	1,530	 	 	1,549	 	 	1,517	 	 	1,530	 	 	6,126	 	 	1,507	 	 	1,474	 	 	1,465	 	 	1,489	 	 	5,935	
 	 			 			 			 			 			 			 			 			 			 			
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	722	 	 	732	 	 	702	 	 	738	 	 	2,894	 	 	705	 	 	698	 	 	691	 	 	694	 	 	2,788	
Interest credited	 	 	98	 	 	90	 	 	91	 	 	90	 	 	369	 	 	91	 	 	91	 	 	90	 	 	90	 	 	362	
Acquisition and operating expenses, net of deferrals	 	 	333	 	 	328	 	 	349	 	 	327	 	 	1,337	 	 	307	 	 	279	 	 	297	 	 	284	 	 	1,167	
Amortization of deferred acquisition costs and intangibles	 	 	119	 	 	161	 	 	159	 	 	150	 	 	589	 	 	180	 	 	186	 	 	179	 	 	226	 	 	771	
Interest expense	 	 	19	 	 	13	 	 	11	 	 	9	 	 	52	 	 	6	 	 	4	 	 	2	 	 	3	 	 	15	
 	 			 			 			 			 			 			 			 			 			 			
Total benefits and expenses	 	 	1,291	 	 	1,324	 	 	1,312	 	 	1,314	 	 	5,241	 	 	1,289	 	 	1,258	 	 	1,259	 	 	1,297	 	 	5,103	
 	 			 			 			 			 			 			 			 			 			 			
EARNINGS BEFORE INCOME TAXES	 	 	239	 	 	225	 	 	205	 	 	216	 	 	885	 	 	218	 	 	216	 	 	206	 	 	192	 	 	832	
Provision for income taxes	 	 	87	 	 	80	 	 	73	 	 	77	 	 	317	 	 	78	 	 	81	 	 	77	 	 	69	 	 	305	
 	 			 			 			 			 			 			 			 			 			 			
SEGMENT NET EARNINGS	 	$	152	 	$	145	 	$	132	 	$	139	 	$	568	 	$	140	 	$	135	 	$	129	 	$	123	 	$	527	

Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
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Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Retirement Income and Investments
(amounts in millions)

 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	PRO FORMA	
			
 	 	2005
	 	2004
	
 	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	181	 	$	189	 	$	241	 	$	244	 	$	855	 	$	277	 	$	219	 	$	321	 	$	277	 	$	1,094	
Net investment income	 	 	493	 	 	455	 	 	432	 	 	433	 	 	1,813	 	 	417	 	 	393	 	 	395	 	 	377	 	 	1,582	
Policy fees and other income	 	 	63	 	 	61	 	 	62	 	 	58	 	 	244	 	 	58	 	 	52	 	 	53	 	 	52	 	 	215	
 	 			 			 			 			 			 			 			 			 			 			
Total revenues	 	 	737	 	 	705	 	 	735	 	 	735	 	 	2,912	 	 	752	 	 	664	 	 	769	 	 	706	 	 	2,891	
 	 			 			 			 			 			 			 			 			 			 			
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	255	 	 	247	 	 	301	 	 	308	 	 	1,111	 	 	363	 	 	281	 	 	370	 	 	338	 	 	1,352	
Interest credited	 	 	276	 	 	274	 	 	256	 	 	250	 	 	1,056	 	 	253	 	 	237	 	 	234	 	 	233	 	 	957	
Acquisition and operating expenses, net of deferrals	 	 	68	 	 	66	 	 	66	 	 	59	 	 	259	 	 	48	 	 	59	 	 	61	 	 	61	 	 	229	
Amortization of deferred acquisition costs and intangibles	 	 	39	 	 	33	 	 	32	 	 	27	 	 	131	 	 	34	 	 	25	 	 	35	 	 	28	 	 	122	
Interest expense	 	 	1	 	 	1	 	 	1	 	 	—  	 	 	3	 	 	—  	 	 	—  	 	 	1	 	 	—  	 	 	1	
 	 			 			 			 			 			 			 			 			 			 			
Total benefits and expenses	 	 	639	 	 	621	 	 	656	 	 	644	 	 	2,560	 	 	698	 	 	602	 	 	701	 	 	660	 	 	2,661	
 	 			 			 			 			 			 			 			 			 			 			
EARNINGS BEFORE INCOME TAXES AND ACCOUNTING CHANGE	 	 	98	 	 	84	 	 	79	 	 	91	 	 	352	 	 	54	 	 	62	 	 	68	 	 	46	 	 	230	
Provision for income taxes	 	 	30	 	 	25	 	 	19	 	 	31	 	 	105	 	 	19	 	 	22	 	 	25	 	 	16	 	 	82	
 	 			 			 			 			 			 			 			 			 			 			
SEGMENT NET EARNINGS	 	$	68	 	$	59	 	$	60	 	$	60	 	$	247	 	$	35	 	$	40	 	$	43	 	$	30	 	$	148	

Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
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Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Mortgage Insurance
(amounts in millions)

 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	PRO FORMA	
			
 	 	2005
	 	2004
	
 	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	 	Q4
	 	Q3
	 	Q2
	 	Q1
	 	Total
	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	229	 	$	218	 	$	220	 	$	215	 	$	882	 	$	213	 	$	197	 	$	195	 	$	195	 	$	800	
Net investment income	 	 	77	 	 	73	 	 	68	 	 	69	 	 	287	 	 	68	 	 	65	 	 	61	 	 	60	 	 	254	
Policy fees and other income	 	 	11	 	 	12	 	 	12	 	 	10	 	 	45	 	 	8	 	 	10	 	 	10	 	 	8	 	 	36	
 	 			 			 			 			 			 			 			 			 			 			
Total revenues	 	 	317	 	 	303	 	 	300	 	 	294	 	 	1,214	 	 	289	 	 	272	 	 	266	 	 	263	 	 	1,090	
 	 			 			 			 			 			 			 			 			 			 			
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	66	 	 	36	 	 	39	 	 	21	 	 	162	 	 	53	 	 	46	 	 	27	 	 	39	 	 	165	
Acquisition and operating expenses, net of deferrals	 	 	74	 	 	81	 	 	75	 	 	59	 	 	289	 	 	69	 	 	64	 	 	65	 	 	64	 	 	262	
Amortization of deferred acquisition costs and intangibles	 	 	14	 	 	18	 	 	13	 	 	11	 	 	56	 	 	16	 	 	12	 	 	11	 	 	12	 	 	51	
 	 			 			 			 			 			 			 			 			 			 			
Total benefits and expenses	 	 	154	 	 	135	 	 	127	 	 	91	 	 	507	 	 	138	 	 	122	 	 	103	 	 	115	 	 	478	
 	 			 			 			 			 			 			 			 			 			 			
EARNINGS BEFORE INCOME TAXES	 	 	163	 	 	168	 	 	173	 	 	203	 	 	707	 	 	151	 	 	150	 	 	163	 	 	148	 	 	612	
Provision for income taxes	 	 	44	 	 	42	 	 	52	 	 	62	 	 	200	 	 	44	 	 	48	 	 	49	 	 	45	 	 	186	
 	 			 			 			 			 			 			 			 			 			 			
SEGMENT NET EARNINGS	 	$	119	 	$	126	 	$	121	 	$	141	 	$	507	 	$	107	 	$	102	 	$	114	 	$	103	 	$	426	

Pro Forma Segment Net Earnings is equivalent to Segment Net Earnings for the Mortgage Insurance Segment.
Segment Net Operating Earnings is equivalent to Segment Net Earnings.
 
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Table of Contents
 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Segment Net Earnings—Corporate and Other
(amounts in millions)

 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	PRO FORMA	 	
			
 	 	2005
	 	 	2004
	 	
 	 	Q4
	 	 	Q3
	 	 	Q2
	 	 	Q1
	 	 	Total
	 	 	Q4
	 	 	Q3
	 	 	Q2
	 	 	Q1
	 	 	Total
	 	
REVENUES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Premiums	 	$	22	 	 	$	20	 	 	$	24	 	 	$	18	 	 	$	84	 	 	$	22	 	 	$	22	 	 	$	26	 	 	$	26	 	 	$	96	 	
Net investment income	 	 	33	 	 	 	53	 	 	 	31	 	 	 	35	 	 	 	152	 	 	 	29	 	 	 	29	 	 	 	53	 	 	 	35	 	 	 	146	 	
Net realized investment (losses) gains	 	 	11	 	 	 	(7	)	 	 	—  	 	 	 	(6	)	 	 	(2	)	 	 	(1	)	 	 	3	 	 	 	6	 	 	 	15	 	 	 	23	 	
Policy fees and other income	 	 	5	 	 	 	5	 	 	 	3	 	 	 	5	 	 	 	18	 	 	 	44	 	 	 	6	 	 	 	2	 	 	 	2	 	 	 	54	 	
 	 				 				 				 				 				 				 				 				 				 				
Total Revenue	 	 	71	 	 	 	71	 	 	 	58	 	 	 	52	 	 	 	252	 	 	 	94	 	 	 	60	 	 	 	87	 	 	 	78	 	 	 	319	 	
 	 				 				 				 				 				 				 				 				 				 				
BENEFITS AND EXPENSES:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Benefits and other changes in policy reserves	 	 	10	 	 	 	11	 	 	 	9	 	 	 	8	 	 	 	38	 	 	 	8	 	 	 	9	 	 	 	9	 	 	 	9	 	 	 	35	 	
Acquisition and operating expenses, net of deferrals	 	 	38	 	 	 	31	 	 	 	33	 	 	 	2	 	 	 	104	 	 	 	33	 	 	 	9	 	 	 	28	 	 	 	19	 	 	 	89	 	
Amortization of deferred acquisition costs and intangibles	 	 	4	 	 	 	5	 	 	 	4	 	 	 	5	 	 	 	18	 	 	 	4	 	 	 	7	 	 	 	4	 	 	 	3	 	 	 	18	 	
Interest expense	 	 	60	 	 	 	58	 	 	 	57	 	 	 	63	 	 	 	238	 	 	 	57	 	 	 	56	 	 	 	56	 	 	 	58	 	 	 	227	 	
 	 				 				 				 				 				 				 				 				 				 				
Total benefits and expenses	 	 	112	 	 	 	105	 	 	 	103	 	 	 	78	 	 	 	398	 	 	 	102	 	 	 	81	 	 	 	97	 	 	 	89	 	 	 	369	 	
 	 				 				 				 				 				 				 				 				 				 				
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	 	 	(41	)	 	 	(34	)	 	 	(45	)	 	 	(26	)	 	 	(146	)	 	 	(8	)	 	 	(21	)	 	 	(10	)	 	 	(11	)	 	 	(50	)	
(Benefit from) provision for income taxes	 	 	(9	)	 	 	(11	)	 	 	(17	)	 	 	(8	)	 	 	(45	)	 	 	(72	)	 	 	(15	)	 	 	17	 	 	 	(9	)	 	 	(79	)	
 	 				 				 				 				 				 				 				 				 				 				
SEGMENT NET (LOSS) EARNINGS FROM CONTINUING OPERATIONS	 	 	(32	)	 	 	(23	)	 	 	(28	)	 	 	(18	)	 	 	(101	)	 	 	64	 	 	 	(6	)	 	 	(27	)	 	 	(2	)	 	 	29	 	
Net realized investment losses (gains), net of taxes	 	 	(7	)	 	 	4	 	 	 	—  	 	 	 	4	 	 	 	1	 	 	 	1	 	 	 	(2	)	 	 	(4	)	 	 	(10	)	 	 	(15	)	
Net tax (benefit) expense related to initial public offering	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(68	)	 	 	—  	 	 	 	22	 	 	 	—  	 	 	 	(46	)	
Gain on outsourcing services agreement, net of taxes	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(25	)	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	(25	)	
 	 				 				 				 				 				 				 				 				 				 				
NET OPERATING LOSS	 	$	(39	)	 	$	(19	)	 	$	(28	)	 	$	(14	)	 	$	(100	)	 	$	(28	)	 	$	(8	)	 	$	(9	)	 	$	(12	)	 	$	(57	)	

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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
CORPORATE INFORMATION
 
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 GENWORTH FINANCIAL
4Q 2005 FINANCIAL SUPPLEMENT
 
Industry Ratings
 
Our principal life insurance subsidiaries are rated by A.M. Best, S&P, Moody’s and Fitch as follows:

Company
	  	A.M. Best rating
	  	S&P rating
	  	Moody’s rating
	  	Fitch rating
	
American Mayflower Life Insurance Company of New York	  	
A+	  	
AA-	  	Aa3	  	AA-	
					
Federal Home Life Insurance Company	  	A+	  	Not rated	  	Aa3	  	AA-	
					
First Colony Life Insurance Company	  	A+	  	AA-	  	Aa3	  	AA-	
					
Genworth Life Insurance Company of New York	  	A+	  	AA-	  	Aa3	  	AA-	
					
Genworth Life and Annuity Insurance Company	  	A+	  	AA-	  	Aa3	  	AA-	
					
Genworth Life and Annuity Insurance Company
(short term rating)	  	
Not rated	  	
A-1+	  	P-1	  	Not rated	
					
GE Group Life Assurance Company	  	A	  	AA-	  	Not rated	  	Not rated	
					
Genworth Life Insurance Company	  	A+	  	AA-	  	Aa3	  	AA-	
					
Genworth Life Insurance Company
(short term rating)	  	
Not rated	  	
A-1+	  	P-1	  	Not rated	
 
Our mortgage insurance subsidiaries are rated by S&P, Moody’s and Fitch as follows:

Company (a)
	  	S&P rating
	  	Moody’s rating
	  	Fitch rating
	
Genworth Mortgage Insurance Company	  	AA	  	Aa2	  	AA	
				
Genworth Financial Mortgage Insurance Pty.Limited	  	AA	  	Aa2	  	AA	
				
Genworth Financial Mortgage Insurance Limited	  	AA	  	Aa2	  	AA	
				
Genworth Residential Mortgage Insurance Corporation of NC	  	AA	  	Aa2	  	AA	

(a)	Our Canadian mortgage insurance company is not rated by any of the rating agencies shown above.	
 
The A.M. Best, S&P, Moody’s and Fitch ratings 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 our securities.
 
A.M. Best states that its “A+” (Superior) rating is assigned to those companies that have, in its opinion, a superior ability to meet their ongoing obligations to policyholders. The “A+” (Superior) rating is the second-highest of fifteen ratings assigned by A.M. Best, which range from “A++” to “S”.
 
S&P states that an insurer rated “AA” (Very Strong) has very strong financial security characteristics that outweigh any vulnerabilities, and is highly likely to have the ability to meet financial commitments. The “AA” range is the second-highest of the four ratings ranges that meet these criteria, and also is the second-highest of nine financial strength rating ranges assigned by S&P, which range from “AAA” to “R.” A plus (+) or minus (-) shows relative standing in a rating category. Accordingly, the “AA” and “AA-” ratings are the third- and fourth-highest of S&P’s 20 ratings categories. The short-term “A-1” rating is the highest rating and shows the capacity to meet financial commitments is strong. Within this category, the designation of a plus sign (+) indicates capacity to meet its financial commitments is extremely strong.
 
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4Q 2005 FINANCIAL SUPPLEMENT
 
Moody’s states that insurance companies rated “Aa” (Excellent) offer excellent financial security. Moody’s states that companies in this group constitute what are generally known as high-grade companies. The “Aa” range is the second-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 group, with 1 being the highest and 3 being the lowest. Accordingly, the “Aa2” and “Aa3” ratings are the third- and fourth-highest of Moody’s 21 ratings categories. Short-term rating “P1” is the highest rating and shows superior ability for repayment of short-term debt obligations.
 
Fitch states that “AA” (Very Strong) rated insurance companies are viewed as possessing very strong capacity to meet policyholder and contract obligations. Risk factors are modest, and the impact of any adverse business and economic factors is expected to be very small. The “AA” rating category is the second-highest of eight financial strength rating categories, which range from “AAA” to “D.” The symbol (+) or (-) may be appended to a rating to indicate the relative position of a credit within a rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “CCC” category. Accordingly, the “AA” and “AA-” ratings are the third- and fourth-highest of Fitch’s 24 ratings categories.
 
A.M. Best, S&P, Moody’s and Fitch review their ratings periodically and we cannot assure you that we will maintain our current ratings in the future. Other agencies may also rate our company or our insurance subsidiaries on a solicited or an unsolicited basis.
 
About Genworth Financial
 
Genworth is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 24 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information, visit www.genworth.com
 
Inquiries:
 
Genworth Financial, Inc.
Jean Peters, 804-662-2693
jean.peters@genworth.com
 
Alicia Charity, 804-662-2248
alicia.charity@genworth.com
 
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