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
April 28, 2016
Date of Report
(Date of earliest event reported)

 

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

 
					
Delaware	 	001-32195	 	80-0873306	
(State or other jurisdiction
of incorporation)	 	(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 April 28, 2016, Genworth Financial, Inc. issued (1) a press release announcing its financial results for the quarter ended March 31, 2016, 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 March 31, 2016, 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	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 April 28, 2016.	
		
99.2	  	Financial Supplement for the quarter ended March 31, 2016.	
 
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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: April 28, 2016	 		 	By:	 	/s/ Matthew D. Farney	
	 		 		 	Matthew D. Farney	
	 		 		 	Vice President and Controller	
	 		 		 	(Principal Accounting Officer)	
 
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Exhibit Index

Exhibit
Number	  	Description of Exhibit	
		
99.1	  	Press Release dated April 28, 2016.	
		
99.2	  	Financial Supplement for the quarter ended March 31, 2016.	
 
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Exhibit 99.1

Genworth Financial Announces First Quarter 2016 Results
Net Operating Income Of $0.21 Per Share And Net Income Of $0.11 Per Share
Both Impacted By Litigation Settlement & Legal Expenses
 
 	•	 	Solid Loss Ratio Performance And Maintained Strong Capital Positions In U.S., Canada & Australia Mortgage Insurance (MI) Businesses	
 
 	•	 	Progress Made On U.S. Life Insurance Restructuring Plan:	
 
 	•	 	Sales Suspended For Traditional Life Insurance And Fixed Annuity Products	
 
 	•	 	Cash Expenses Reduced By Approximately $135 Million Pre-Tax On An Annualized Basis	
 
 	•	 	Additional Steps Taken Toward Repatriation Of Bermuda Subsidiary	
 
 	•	 	Progress Made On Isolation Of Long Term Care Insurance (LTC) Business With Successful Completion Of Bond Consent Solicitation	
 
 	•	 	Net Income 1 And Net Operating Income 2 Include Litigation Settlement And Legal Expenses Of $0.11 Per Diluted Share	
 
 	•	 	Holding Company Debt Reduction Of $326 Million	
Richmond, VA (April 28, 2016) – Genworth Financial, Inc. (NYSE: GNW) today reported results for the period ended March 31, 2016. The company reported net income of $53 million, or $0.11 per diluted share, in the first quarter of 2016, compared with net income of $154 million, or $0.31 per diluted share, in the first quarter of 2015. Net operating income for the first quarter of 2016 was $103 million, or $0.21 per diluted share, compared with net operating income of $154 million, or $0.31 per diluted share, in the first quarter of 2015. Net income and net operating income in the quarter included $54 million after-tax, or $0.11 per diluted share, of litigation settlement and legal expenses.
Strategic Update
On February 4, 2016, the company announced a restructuring plan for its U.S. life insurance businesses to: (1) suspend sales of its traditional life insurance and fixed annuity products; (2) further reduce expense levels in

2  	This is a financial measure not calculated based on U.S. Generally Accepted Accounting Principles (Non-GAAP). See the Use of Non-GAAP Measures section of this press release for additional information.	
1  	Unless otherwise stated, all references in this press release to net income (loss), net income (loss) per share, book value, book value per share and stockholders’ equity should be read as net income (loss) available to Genworth’s common stockholders, net income (loss) available to Genworth’s common stockholders per share, book value available to Genworth’s common stockholders, book value available to Genworth’s common stockholders per share and stockholders’ equity available to Genworth’s common stockholders, respectively.	
 
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2016; (3) repatriate existing business from Brookfield Life and Annuity Insurance Company Limited (BLAIC), its primary Bermuda domiciled reinsurance subsidiary, to its U.S. life insurance companies in 2016; and (4) separate and potentially isolate its LTC business. The company made progress on this plan in the quarter including:
 
 	•	 	Suspending all sales of traditional life insurance and fixed annuity products on March 7, 2016;	
 
 	•	 	Reducing cash expenses by approximately $135 million pre-tax on an annualized basis. The company still expects to achieve total expected annualized cash expense reductions of $150 million or more by the end of the second quarter of 2016;	
 
 	•	 	Recapturing a block of universal life insurance business from BLAIC to the U.S. life insurance companies, effective April 1, 2016, representing an additional step completed toward the repatriation of BLAIC; and	
 
 	•	 	Successfully completing a bond consent solicitation providing additional strategic and financial flexibility and demonstrating progress toward the isolation of the LTC business.	
In January 2016, the company completed the sale of certain blocks of term life insurance to Protective Life Insurance Company. This transaction is expected to generate capital in excess of $150 million in aggregate to Genworth, including an anticipated tax payment of approximately $175 million to the holding company that is scheduled to be settled in July 2016 and is committed to be used to facilitate the separation and potential isolation of the LTC business.
During the fourth quarter of 2015, the company announced it had entered into an agreement to sell its European mortgage insurance business to AmTrust Financial Services, Inc., which is currently expected to result in net proceeds of approximately $50 million to the U.S. MI business. The transaction is now expected to close in the second quarter of 2016 and is subject to customary conditions, including requisite regulatory approvals.
“We are pleased with the continued strong performance of our MI businesses and improved results in our U.S. life insurance businesses during the quarter,” said Tom McInerney, President and CEO. “We also enhanced our strategic and financial flexibility by proactively reducing holding company debt, successfully completing a bond consent solicitation and making progress on our U.S. life insurance restructuring plan.”
 
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Consolidated Net Income & Net Operating Income 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
 	  	Three months ended March 31
(Unaudited)	 	  	 	 	
	  			  				
 	  	2016	 	  	2015	 	  	 	 	
 	  	 	 	  	Per	 	  	 	 	  	Per	 	  	 	 	
 	  	 	 	  	diluted	 	  	 	 	  	diluted	 	  	Total	 	
(Amounts in millions, except per share)	  	Total	 	  	share	 	  	Total	 	  	share	 	  	% change	 	
						
Net income available to Genworth’s common stockholders	  	$	53	 	  	$	0.11	 	  	$	154	 	  	$	0.31	  	  	 	(66	)% 	
Net operating income	  	$	103	 	  	$	0.21	 	  	$	154	 	  	$	0.31	  	  	 	(33	)% 	
Weighted average diluted shares	  	 	499.4	 	  				  	 	498.9	 	  				  				
			
 	  	Three months ended March 31	 	  	 	 	
 	  	(Unaudited)	 	  	 	 	
 	  	2016	 	  	2015	 	  	 	 	
Book value per share	  				  	$	28.19	 	  				  	$	30.81	 	  				
Book value per share, excluding accumulated other comprehensive income (loss)	  				  	$	19.80	 	  				  	$	21.38	 	  				
In the first quarter of 2016, net income was primarily impacted by a net after-tax loss of $11 million related to the early extinguishment of Genworth Holdings’ senior notes, an after-tax loss of $6 million from a life block transaction, an after-tax expense of $9 million related to restructuring costs and after-tax fees incurred related to the bond consent solicitation of $12 million.
Net income was also impacted by net investment losses, net of taxes and other adjustments, of $13 million in the quarter, compared to $1 million in the prior year. Total impairments, net of tax, were $7 million in the quarter, compared to $2 million in the prior year.
Net investment income increased to $789 million in the quarter, compared to $781 million in both the prior quarter and prior year primarily from favorable prepayment speed adjustments related to residential mortgage-backed securities. The reported yield for the current quarter was 4.51 percent. The core yield 2 was 4.36 percent, up slightly from the prior quarter.
Net operating income (loss) results are summarized in the table below:

Net Operating Income (Loss)
(Amounts in millions)	  	Q1 16	 	 	Q4 15	 	 	Q1 15	 	
U.S. Mortgage Insurance	  	$	61	  	 	$	41	  	 	$	52	 	
Canada Mortgage Insurance	  	 	33	  	 	 	37	  	 	 	40	 	
Australia Mortgage Insurance	  	 	19	  	 	 	22	  	 	 	30	 	
U.S. Life Insurance	  	 	91	  	 	 	(135	) 	 	 	81	 	
Runoff	  	 	4	  	 	 	11	  	 	 	11	 	
Corporate and Other	  	 	(105	) 	 	 	(58	) 	 	 	(60	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Total Net Operating Income (Loss)	  	$	103	  	 	$	(82	) 	 	$	154	 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net operating income (loss) represents net operating income (loss) from continuing operations excluding net investment gains (losses), goodwill impairments, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and other adjustments, net of taxes. A reconciliation of net operating income (loss) of segments and Corporate and Other activities to net income (loss) is included at the end of this press release.
 
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Unless specifically noted in the discussion of results for the MI businesses in Canada and Australia, references to percentage changes exclude the impact of translating foreign denominated activity into U.S. dollars (foreign exchange). Percentage changes, which include the impact of foreign exchange, are found in a table at the end of this press release. The impact of foreign exchange on results in the first quarter of 2016 was an unfavorable $6 million and $3 million versus the prior year in the MI businesses in Canada and Australia, respectively.
U.S. Mortgage Insurance

Operating Metrics	  	 	 	 	 	 	 	 	 	
(Dollar amounts in millions)	  	Q1 16	 	 	Q4 15	 	 	Q1 15	 	
Net operating income	  	$	61	  	 	$	41	  	 	$	52	  	
New insurance written	  				 				 				
Primary Flow	  	$	7,400	  	 	$	7,800	  	 	$	6,300	  	
Loss ratio	  	 	24	% 	 	 	39	% 	 	 	33	% 	
U.S. MI net operating income was $61 million, compared with $41 million in the prior quarter and $52 million in the prior year. The loss ratio in the current quarter was 24 percent, down 15 points sequentially from a seasonal decrease in new delinquencies, favorable net cures and aging of existing delinquencies and the continued growth in insurance in force resulting in higher earned premiums. The loss ratio was down nine points from the prior year primarily reflecting the continued decline in delinquencies from the 2005 to 2008 book years. Results versus the prior year also reflected lower net investment income, primarily related to the affiliated preferred securities that were exchanged with the holding company in July 2015.
Flow new insurance written (NIW) of $7.4 billion decreased five percent from the prior quarter from a seasonally smaller purchase originations market but increased 17 percent versus the prior year primarily from a larger purchase originations market and growth in market share. During the first quarter of 2016, the company’s concentration of single premium flow NIW was slightly higher than the prior quarter, and modestly lower than the prior year as it continues its selective participation in this market. Future volumes of its single premium products will vary in part depending on the company’s evaluation of the risk return profile of these products.
 
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Canada Mortgage Insurance

Operating Metrics	  	 	 	 	 	 	 	 	 	
(Dollar amounts in millions)	  	Q1 16	 	 	Q4 15	 	 	Q1 15	 	
Net operating income	  	$	33	  	 	$	37	  	 	$	40	  	
New insurance written	  				 				 				
Flow	  	$	2,500	  	 	$	4,700	  	 	$	3,300	  	
Bulk	  	$	3,200	  	 	$	7,300	  	 	$	5,000	  	
Loss ratio	  	 	24	% 	 	 	23	% 	 	 	22	% 	
Canada MI reported net operating income of $33 million versus $37 million in the prior quarter and $40 million in the prior year. The loss ratio in the quarter was 24 percent, up one point from the prior quarter and up two points compared to the prior year primarily driven by an increase in new delinquencies, net of cures, primarily from experience in Alberta. Results versus the prior year included unfavorable foreign exchange of $6 million and higher expenses, partially offset by higher premiums.
Flow NIW was down 45 percent 3 sequentially primarily from a seasonally smaller originations market and down 12 percent 3 from the prior year primarily from targeted underwriting changes and a slowing housing market in oil producing regions. In addition, the company completed several bulk transactions in the quarter of approximately $3.2 billion, consisting of low loan-to-value prime loans.
Australia Mortgage Insurance

Operating Metrics	  	 	 	 	 	 	 	 	 	
(Dollar amounts in millions)	  	Q1 16	 	 	Q4 15	 	 	Q1 15	 	
Net operating income	  	$	19	  	 	$	22	  	 	$	30	  	
New insurance written	  				 				 				
Flow	  	$	4,400	  	 	$	4,600	  	 	$	5,800	  	
Loss ratio	  	 	26	% 	 	 	17	% 	 	 	15	% 	
Australia MI reported net operating income of $19 million versus $22 million in the prior quarter and $30 million in the prior year. The loss ratio in the quarter was 26 percent, up nine points sequentially and up 11 points from the prior year. Sequentially, aging of existing delinquencies was unfavorable and new delinquencies were up 12 percent from normal seasonal variation, primarily from Queensland and Western Australia. Results in the prior year included an accrual for expected recoveries relating to paid claims, favorably impacting the loss ratio in the prior year by nine points. Results versus the prior year were impacted by an unfavorable $7 million related to the company’s further sell down of approximately 14 percent of its ownership in the Australia MI business in May 2015 and $3 million of unfavorable foreign exchange.
Flow NIW was down four percent 3 sequentially and down 16 percent 3 from the prior year from a smaller high loan-to-value originations market primarily driven by regulatory focus on the market and tightened lender risk appetite as well as the impact from the termination of a customer contract in the second quarter of 2015.

3  	Percent change excludes the impact of foreign exchange.	
 
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U.S. Life Insurance

Operating Metrics	  	 	 	  	 	 	 	 	 	
(Amounts in millions)	  	Q1 16	 	  	Q4 15	 	 	Q1 15	 	
Net operating income (loss)	  				  				 				
Long Term Care Insurance	  	$	34	 	  	$	19	 	 	$	10	 	
Life Insurance	  	 	31	 	  	 	(173	) 	 	 	40	 	
Fixed Annuities	  	 	26	 	  	 	19	 	 	 	31	 	
	  	 	 	 	  	 	 	 	 	 	 	 	
Total U.S. Life Insurance	  	$	91	 	  	$	(135	) 	 	$	81	 	
	  	 	 	 	  	 	 	 	 	 	 	 	
Sales	  				  				 				
Long Term Care Insurance	  				  				 				
Individual	  	$	5	 	  	$	8	 	 	$	10	 	
Group	  	 	2	 	  	 	2	 	 	 	1	 	
Life Insurance	  				  				 				
Term Life	  	 	5	 	  	 	6	 	 	 	9	 	
Universal Life	  	 	2	 	  	 	3	 	 	 	4	 	
Linked Benefits	  	 	2	 	  	 	1	 	 	 	4	 	
Fixed Annuities	  	 	168	 	  	 	314	 	 	 	326	 	
Long Term Care Insurance
LTC had net operating income of $34 million, compared with $19 million in the prior quarter and $10 million in the prior year. Results versus the prior quarter reflected favorable experience driven by seasonally higher terminations. The current quarter also reflected a $4 million after-tax unfavorable correction to the calculation for reduced benefit options, partially offset by lower expenses. Results versus the prior year reflected a more favorable benefit from rate actions, partially offset by less favorable experience driven by lower terminations and higher severity given the mix of new claims with a higher average reserve. Prior quarter results included $10 million of after-tax favorable items. Prior year results included $7 million of after-tax unfavorable items. The loss ratio in the current quarter was approximately 68 percent. Individual LTC sales were $5 million in the quarter.
Life Insurance
Life insurance had net operating income of $31 million, compared with a net operating loss of $173 million in the prior quarter and net operating income of $40 million in the prior year. Results in the quarter reflected favorable prepayment speed adjustments related to residential mortgage-backed securities. Results in the prior quarter included an after-tax charge of $194 million related to the company’s annual review of life assumptions. Life insurance sales were $9 million in the quarter.
Fixed Annuities
Fixed annuities net operating income was $26 million, compared with $19 million in the prior quarter and $31 million in the prior year. Results in the quarter reflected favorable impacts from single premium immediate annuity mortality experience versus the prior quarter, but less favorable versus the prior year. Sales in the quarter totaled $168 million.
 
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Runoff
Runoff net operating income was $4 million, compared with $11 million in the prior quarter and the prior year reflecting less favorable equity market performance versus both the prior quarter and prior year.
Corporate And Other
Corporate and Other net operating loss was $105 million, compared with $58 million in the prior quarter and $60 million in the prior year. Results in the current quarter included expenses of $54 million after-tax related to litigation settlement and legal expenses.
Capital & Liquidity
Genworth maintains solid capital positions in its operating subsidiaries.

Key Capital & Liquidity Metrics	  	 	 	 	 	 	 	 	 	
(Dollar amounts in millions)           	  	Q1 16	 	 	Q4 15	 	 	Q1 15	 	
U.S. MI	  				 				 				
Consolidated Risk-To-Capital Ratio 4  	  	 	15.3:1	  	 	 	16.3:1	  	 	 	14.1:1	  	
Genworth Mortgage Insurance Corporation Risk-To-Capital Ratio 4 	  	 	15.5:1	  	 	 	16.4:1	  	 	 	13.8:1	  	
Private Mortgage Insurer Eligibility Requirements (PMIERs) Sufficiency Ratio 5	  	 	113	% 	 	 	109	% 	 	 	N/A	  	
Canada MI	  				 				 				
Minimum Capital Test (MCT) Ratio 4 	  	 	234	% 	 	 	234	% 	 	 	233	% 	
Australia MI	  				 				 				
Prescribed Capital Amount (PCA) Ratio 4 	  	 	168	% 	 	 	159	% 	 	 	163	% 	
U.S. Life Insurance Companies	  				 				 				
Consolidated Risk-Based Capital (RBC) Ratio 4 	  	 	390	% 	 	 	393	% 	 	 	453	% 	
Unassigned Surplus 4 	  	$	(330	) 	 	$	(329	) 	 	$	138	 	
Holding Company Cash 6 and Liquid Assets 7  	  	$	760	 	 	$	1,374	 	 	$	1,070	 	
Key Points
 
 	•	 	U.S. MI compliant with the PMIERs with a buffer as of March 31, 2016;	
 
 	•	 	Canada and Australia continue to maintain solid capital ratios in excess of management targets;	
 
 	•	 	U.S. life insurance companies’ unassigned surplus and RBC ratio were both in line with the prior quarter as favorable fixed annuities performance was offset by the impact of lower interest rates on variable annuity products and the life block transaction completed in the quarter. RBC ratio also reflected unfavorable credit migration;	
 
 	•	 	The holding company ended the quarter with approximately $760 million of cash and liquid assets, representing a buffer of approximately $300 million in excess of one and a half times annual debt service and restricted cash. The holding company continues to target maintaining cash balances of at least one and a half times its annual debt service expense plus a risk buffer of $350 million, but may go below the target level at times to proactively address liabilities;	
 
 	•	 	Holding company cash and liquid assets decreased from the prior quarter from $345 million utilized to reduce Genworth Holdings’ debt, $71 million of net other items and expenses, $69 million paid toward	

4  	Company estimate for the first quarter of 2016, due to timing of the filing of statutory statements.	
5  	Calculated as available assets divided by required assets as defined within PMIERs. Company estimate for the first quarter of 2016.	
6  	Holding company cash & liquid assets comprises assets held in Genworth Holdings, Inc. (the issuer of outstanding public debt) which is a wholly-owned subsidiary of Genworth Financial, Inc.	
7  	Comprises cash and cash equivalents of $760 million, $1,124 million and $820 million, respectively, and U.S. government bonds of zero, $250 million and $250 million, respectively, as of March 31, 2016, December 31, 2015, and March 31, 2015.	
 
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 	the litigation settlement, an increase in cash margin posted for hedges of $67 million, $61 million paid for debt interest expense, and $61 million of fees paid related to the bond consent solicitation, partially offset by $60 million of dividends from the operating subsidiaries; and	
 
 	•	 	In March, the Australia business announced a capital reduction initiative for shareholders of A$202 million, subject to shareholder approval.	
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 insurance holding company committed to helping families achieve the dream of homeownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com .
From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the “Investors” section of  genworth.com . From time to time, Genworth’s publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth Mortgage Insurance Australia Limited, separately release financial and other information about their operations. This information can be found at  http://genworth.ca  and http://www.genworth.com.au .
Conference Call and Financial Supplement Information
This press release and the first quarter 2016 financial supplement are now posted on the company’s website. Additional information regarding business results and strategic update will be posted on the company’s website, http://investor.genworth.com , by 7:30 a.m. on April 29, 2016. Investors are encouraged to review these materials.
Genworth will conduct a conference call on April 29, 2016 at 8:00 a.m. (ET) to discuss business results and provide a progress update on strategic priorities. The conference call will be accessible via telephone and the Internet. The dial-in number for the conference call is 877 888.4034 or 913 489.5101 (outside the U.S.); conference ID # 6410174. To participate in the call by webcast, register at http://investor.genworth.com at least 15 minutes prior to the webcast to download and install any necessary software.
Replays of the call will be available through May 13, 2016 at 888 203.1112 or 719 457.0820 (outside the U.S.); conference ID # 6410174. The webcast will also be archived on the company’s website.
 
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Use of Non-GAAP Measures
This press release includes the non-GAAP financial measures entitled “net operating income (loss)” and “net operating income (loss) per common share.” Net operating income (loss) per common share is derived from net operating income (loss). The chief operating decision maker evaluates segment performance and allocates resources on the basis of net operating income (loss). The company defines net operating income (loss) as income (loss) from continuing operations excluding the after-tax effects of income attributable to noncontrolling interests, net investment gains (losses), goodwill impairments, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and infrequent or unusual non-operating items. Gains (losses) on insurance block transactions are defined as gains (losses) on the early extinguishment of non-recourse funding obligations, early termination fees for other financing restructuring and/or resulting gains (losses) on reinsurance restructuring for certain blocks of business. The company excludes net investment gains (losses) and infrequent or unusual non-operating items because the company does not consider them to be related to the operating performance of the company’s segments and Corporate and Other activities. A component of the company’s net investment gains (losses) is the result of impairments, the size and timing of which can vary significantly depending on market credit cycles. In addition, the size and timing of other investment gains (losses) can be subject to the company’s discretion and are influenced by market opportunities, as well as asset-liability matching considerations. Goodwill impairments, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions and restructuring costs are also excluded from net operating income (loss) because, in the company’s opinion, they are not indicative of overall operating trends. Infrequent or unusual non-operating items are also excluded from net operating income (loss) if, in the company’s opinion, they are not indicative of overall operating trends.
While some of these items may be significant components of net income (loss) available to Genworth’s common stockholders in accordance with GAAP, the company believes that net operating income (loss) and measures that are derived from or incorporate net operating income (loss), including net operating income (loss) per common share on a basic and diluted basis, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses net operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. However, the items excluded from net operating income (loss) have occurred in the past and could, and in some cases will, recur in the future. Net operating income (loss) and net operating income (loss) per common share on a basic and diluted basis are not substitutes for net income (loss) available to Genworth’s common stockholders or net income (loss) available to Genworth’s common stockholders per common share on a basic and diluted basis determined in accordance with GAAP. In addition, the company’s definition of net operating income (loss) may differ from the definitions used by other companies.
In the first quarter of 2016, the company recorded an estimated gain of $20 million, net of taxes, related to the planned sale of the mortgage insurance business in Europe. The company also recognized an estimated loss of $134 million, net of taxes, in the fourth quarter of 2015 for the planned sale of this business.
In January 2016, the company paid a make-whole expense of $13 million, net of taxes, related to the early redemption of Genworth Holdings, Inc.’s 2016 notes. The company also repurchased $28 million principal amount of Genworth Holdings, Inc.’s notes with various maturity dates for a gain of $2 million, net of taxes, in the first quarter of 2016. These transactions were excluded from net operating income (loss) for the periods presented as they related to a gain (loss) on the early extinguishment of debt.
In the first quarter of 2016, the company completed a life block transaction resulting in an after-tax loss of $6 million in connection with the early extinguishment of non-recourse funding obligations.
 
9

In the first quarter of 2016, the company recorded an after-tax expense of $9 million related to restructuring costs as part of an expense reduction plan as the company evaluates and appropriately sizes its organizational needs and expenses. In the fourth quarter of 2015, the company also recorded an after-tax expense of $3 million related to restructuring costs.
There were no infrequent or unusual items excluded from net operating income (loss) during the periods presented other than fees incurred during the first quarter of 2016 related to Genworth Holdings, Inc.’s bond consent solicitation of $12 million, net of taxes, for broker, advisor and investment banking fees.
The tables at the end of this press release reflect net operating income (loss) as determined in accordance with accounting guidance related to segment reporting, and a reconciliation of net operating income (loss) of the company’s segments and Corporate and Other activities to net income (loss) available to Genworth’s common stockholders for the three months ended March 31, 2016 and 2015, as well as for the three months ended December 31, 2015.
Adjustments to reconcile net income (loss) attributable to Genworth’s common stockholders and net operating income (loss) assume a 35 percent tax rate and are net of the portion attributable to noncontrolling interests. Net investment gains (losses) are also adjusted for DAC and other intangible amortization and certain benefit reserves.
This press release includes the non-GAAP financial measure entitled “core yield” as a measure of investment yield. The company defines core yield as the investment yield adjusted for those items that are not recurring in nature. Management believes that analysis of core yield enhances understanding of the investment yield of the company. However, core yield is not a substitute for investment yield determined in accordance with GAAP. In addition, the company’s definition of core yield may differ from the definitions used by other companies. A reconciliation of core yield to reported GAAP yield is included in a table at the end of this press release.
Definition of Selected Operating Performance Measures
The company reports selected operating performance measures including “sales” and “insurance in force” or “risk in force” which are commonly used in the insurance industry as measures of operating performance.
Management regularly monitors and reports sales metrics as a measure of volume of new and renewal business generated in a period. Sales refer to: (1) new insurance written for mortgage insurance; (2) annualized first-year premiums for long term care and term life insurance products; (3) annualized first-year deposits plus five percent of excess deposits for universal and term universal life insurance products; (4) 10 percent of premium deposits for linked-benefits products; and (5) new and additional premiums/deposits for fixed annuities. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers new insurance written, annualized first-year premiums/deposits, premium equivalents and new premiums/deposits to be a measure of the company’s operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company’s revenues or profitability during that period.
Management regularly monitors and reports insurance in force and risk in force. Insurance in force for the mortgage insurance businesses is a measure of the aggregate face value of outstanding insurance policies as of the respective reporting date. For risk in force in the mortgage insurance businesses, the company has computed an “effective” risk in force amount, which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Risk in force for the U.S. mortgage insurance business is the obligation that is limited under contractual terms to the amounts less than 100 percent of the mortgage loan value. Effective risk in force has been calculated by applying to insurance in force a factor of 35 percent that represents the highest expected average per-claim payment for any one underwriting year over the life of the company’s businesses in Canada and Australia. In Australia, the company has certain risk share arrangements where it provides pro-rata coverage of certain loans rather than 100 percent coverage. As a result, for loans with these risk share arrangements, the applicable pro-rata coverage amount provided is used
 
10

when applying the factor. The company considers insurance in force and risk in force to be measures of the company’s operating performance because they represent measures of the size of the business at a specific date which will generate revenues and profits in a future period, rather than measures of the company’s revenues or profitability during that period.
Management also regularly monitors and reports a loss ratio for the company’s businesses. For the mortgage insurance businesses, the loss ratio is the ratio of incurred losses and loss adjustment expenses to net earned premiums. For the long term care insurance business, the loss ratio is the ratio of benefits and other changes in reserves less tabular interest on reserves less loss adjustment expenses to net earned premiums. The company considers the loss ratio to be a measure of underwriting performance in these businesses and helps to enhance the understanding of the operating performance of the businesses.
An assumed tax rate of 35 percent is utilized in certain adjustments to net operating income (loss) and in the explanation of specific variances of operating performance and investment results.
These operating performance measures enable the company to compare its operating performance across periods without regard to revenues or profitability related to policies or contracts sold in prior periods or from investments or other sources.
 
11

Cautionary Note Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning and include, but are not limited to, statements regarding the outlook for the company’s future business and financial performance. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks, including, but not limited to, the following:
 
 	•	 	strategic risks including: the company’s inability to successfully execute strategic plans to effectively address its current business challenges (including with respect to the restructuring of the U.S. life insurance businesses, cost savings, ratings and capital), the company’s inability to complete the planned sale of its European mortgage insurance business at all or on the terms anticipated, and failure to attract buyers for any other businesses or other assets the company may seek to sell, or securities it may seek to issue, in each case, in a timely manner on anticipated terms; failure to obtain any required regulatory, stockholder and/or noteholder approvals or consents, or its challenges changing or being more costly or difficult to successfully address than currently anticipated or the benefits achieved being less than anticipated; inability to achieve anticipated cost-savings in a timely manner; or adverse tax or accounting charges; and inability to increase the capital needed in its businesses in a timely manner and on anticipated terms, including through improved business performance, reinsurance or similar transactions, asset sales, securities offerings or otherwise, in each case as and when required;	
 
 	•	 	risks relating to estimates, assumptions and valuations including: inadequate reserves and the need to increase reserves (including as a result of any changes the company may make to its assumptions, methodologies or otherwise in connection with periodic or other reviews); inaccurate models; deviations from its estimates and actuarial assumptions or other reasons in the long term care insurance, life insurance and/or annuity businesses; accelerated amortization of deferred acquisition costs (DAC) and present value of future profits (PVFP) (including as a result of any changes the company may make to its assumptions, methodologies or otherwise in connection with periodic or other reviews); adverse impact on the company’s financial results as a result of projected profits followed by projected losses (as is currently the case with the long term care insurance business); and changes in valuation of fixed maturity, equity and trading securities;	
 
 	•	 	risks relating to economic, market and political conditions including: downturns and volatility in global economies and equity and credit markets; interest rates and changes in rates; deterioration in economic conditions or a decline in home prices that adversely affect the company’s loss experience in mortgage insurance; political and economic instability or changes in government policies; and fluctuations in foreign currency exchange rates and international securities markets;	
 
 	•	 	regulatory and legal risks including: extensive regulation of the company’s businesses and changes in applicable laws and regulations; litigation and regulatory investigations or other actions, including not receiving court approval of the planned settlement of In re Genworth Financial, Inc. Securities Litigation ; dependence on dividends and other distributions from the company’s subsidiaries (particularly its international subsidiaries) and the inability of any subsidiaries to pay dividends or make other distributions to the company, including as a result of the performance of its subsidiaries and insurance, regulatory or corporate law restrictions (including the unwillingness or inability of the subsidiary that indirectly owns most of the interests in the Australian and Canadian mortgage insurance businesses to pay the dividends that it receives from those businesses as a result of the impact on its financial condition of its capital support for certain long term care insurance related reinsurance arrangements); adverse change in regulatory requirements, including risk-based capital; changes in regulations adversely affecting the company’s international operations; inability to meet or maintain the PMIERs; inability of the U.S. mortgage insurance subsidiaries to meet minimum statutory capital requirements and hazardous financial condition	
 
12

 	standards; the influence of Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) and a small number of large mortgage lenders on the U.S. mortgage insurance market and adverse changes to the role or structure of Fannie Mae and Freddie Mac; adverse changes in regulations affecting the mortgage insurance businesses; inability to continue to implement actions to mitigate the impact of statutory reserve requirements; impact of additional regulations pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act); and changes in accounting and reporting standards;	
 
 	•	 	liquidity, financial strength ratings, credit and counterparty risks including: insufficient internal sources to meet liquidity needs and limited or no access to capital (including the company’s inability to replace the company’s credit facility); recent or future adverse rating agency actions, including with respect to rating downgrades or potential downgrades, or being put on review for potential downgrade, all of which could have adverse implications for the company, including with respect to key business relationships, product offerings, business results of operations, financial condition and capital needs, strategic plans, collateral obligations and availability and terms of hedging, reinsurance and borrowings; defaults by counterparties to reinsurance arrangements or derivative instruments; defaults or other events impacting the value of the company’s fixed maturity securities portfolio; and defaults on the company’s commercial mortgage loans or the mortgage loans underlying its investments in commercial mortgage-backed securities and volatility in performance;	
 
 	•	 	operational risks including: inability to retain, attract and motivate qualified employees or senior management; ineffective or inadequate risk management in identifying, controlling or mitigating risks; reliance on, and loss of, key customer or distribution relationships; availability, affordability and adequacy of reinsurance to protect the company against losses; competition; competition in the mortgage insurance businesses from government and government-owned and government-sponsored enterprises (GSEs) offering mortgage insurance; material weakness in, or ineffective, internal control over financial reporting; and failure or any compromise of the security of the company’s computer systems, disaster recovery systems and business continuity plans and failures to safeguard, or breaches of, its confidential information;	
 
 	•	 	insurance and product-related risks including: the company’s inability to increase sufficiently, and in a timely manner, premiums on in force long term care insurance policies and/or reduce in force benefits, and charge higher premiums on new policies, in each case, as currently anticipated and as may be required from time to time in the future (including as a result of the failure to obtain any necessary regulatory approvals or unwillingness or inability of policyholders to pay increased premiums); the company’s inability to reflect future premium increases and other management actions in its margin calculation as anticipated; failure to sufficiently increase new sales for the long term care insurance products; inability to realize anticipated benefits of the rescissions, curtailments, loan modifications or other similar programs in the mortgage insurance businesses; premiums for the significant portion of the mortgage insurance risk in force with high loan-to-value ratios may not be sufficient to compensate the company for the greater risks associated with those policies; decreases in the volume of high loan-to-value mortgage originations or increases in mortgage insurance cancellations; increases in the use of alternatives to private mortgage insurance and reductions in the level of coverage selected; potential liabilities in connection with the U.S. contract underwriting services; and medical advances, such as genetic research and diagnostic imaging, and related legislation that impact policyholder behavior in ways adverse to the company;	
 
 	•	 	other risks including: occurrence of natural or man-made disasters or a pandemic; impairments of or valuation allowances against the company’s deferred tax assets; the possibility that in certain circumstances the company will be obligated to make payments to General Electric Company (GE) under the tax matters agreement with GE even if its corresponding tax savings are never realized and payments could be accelerated in the event of certain changes in control; and provisions of the company’s certificate of incorporation and bylaws and the tax matters agreement with GE may discourage takeover attempts and business combinations that stockholders might consider in their best interests; and	
 
 	•	 	risks relating to the company’s common stock including: the continued suspension of payment of dividends; and stock price fluctuations.	
 
13

The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.
# # #
Contact Information :

Investors:	  	David Rosenbaum, 804 662.2643	
		
	  	david.rosenbaum@genworth.com	
		
Media:	  	Julie Westermann, 804 662.2423	
		
	  	julie.westermann@genworth.com	
 
14

Condensed Consolidated Statements of Income
(Amounts in millions, except per share amounts)

 	  	Three months ended
March 31,	 	
 	  	2016	 	 	2015	 	
Revenues:	  				 				
Premiums	  	$	794	 	 	$	1,143	 	
Net investment income	  	 	789	 	 	 	781	 	
Net investment gains (losses)	  	 	(19	) 	 	 	(16	) 	
Policy fees and other income	  	 	221	 	 	 	227	 	
	  	 	 	 	 	 	 	 	
Total revenues	  	 	1,785	 	 	 	2,135	 	
	  	 	 	 	 	 	 	 	
Benefits and expenses:	  				 				
Benefits and other changes in policy reserves	  	 	860	 	 	 	1,192	 	
Interest credited	  	 	177	 	 	 	180	 	
Acquisition and operating expenses, net of deferrals	  	 	394	 	 	 	267	 	
Amortization of deferred acquisition costs and intangibles	  	 	99	 	 	 	95	 	
Interest expense	  	 	105	 	 	 	107	 	
	  	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	1,635	 	 	 	1,841	 	
	  	 	 	 	 	 	 	 	
Income from continuing operations before income taxes	  	 	150	 	 	 	294	 	
Provision for income taxes	  	 	23	 	 	 	91	 	
	  	 	 	 	 	 	 	 	
Income from continuing operations	  	 	127	 	 	 	203	 	
Income (loss) from discontinued operations, net of taxes	  	 	(19	) 	 	 	1	 	
	  	 	 	 	 	 	 	 	
Net income	  	 	108	 	 	 	204	 	
Less: net income attributable to noncontrolling interests	  	 	55	 	 	 	50	 	
	  	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders	  	$	53	 	 	$	154	 	

Income from continuing operations available to Genworth Financial, Inc.’s common stockholders per common share:	  				 				
Basic	  	$	0.14	 	 	$	0.31	 	
	  	 	 	 	 	 	 	 	
Diluted	  	$	0.14	 	 	$	0.31	 	
	  	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders per common share:	  				 				
Basic	  	$	0.11	 	 	$	0.31	 	
	  	 	 	 	 	 	 	 	
Diluted	  	$	0.11	 	 	$	0.31	 	
	  	 	 	 	 	 	 	 	
Weighted-average shares outstanding:	  				 				
Basic	  	 	498.0	 	 	 	497.0	 	
	  	 	 	 	 	 	 	 	
Diluted	  	 	499.4	 	 	 	498.9	 	

15

Reconciliation of Net Operating Income (Loss) to Net Income (Loss)
(Amounts in millions, except per share amounts)

 	  	Three
months ended
March 31,	 	 	Three
months ended
December 31,	 	
 	  	2016	 	 	2015	 	 	2015	 	
Net operating income (loss):	  				 				 				
U.S. Mortgage Insurance segment	  	$	61	  	 	$	52	 	 	$	41	  	
Canada Mortgage Insurance segment	  	 	33	  	 	 	40	 	 	 	37	  	
Australia Mortgage Insurance segment	  	 	19	  	 	 	30	 	 	 	22	  	
U.S. Life Insurance segment:	  				 				 				
Long Term Care Insurance	  	 	34	  	 	 	10	 	 	 	19	  	
Life Insurance	  	 	31	  	 	 	40	 	 	 	(173	) 	
Fixed Annuities	  	 	26	  	 	 	31	 	 	 	19	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance segment	  	 	91	  	 	 	81	 	 	 	(135	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Runoff segment	  	 	4	  	 	 	11	 	 	 	11	  	
Corporate and Other	  	 	(105	) 	 	 	(60	) 	 	 	(58	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net operating income (loss)	  	 	103	  	 	 	154	 	 	 	(82	) 	
Adjustments to net operating income (loss):	  				 				 				
Net investment gains (losses), net (see below for reconciliation)	  	 	(13	) 	 	 	(1	) 	 	 	—  	  	
Gains (losses) on sale of business, net	  	 	20	  	 	 	—  	 	 	 	(134	) 	
Gains (losses) on early extinguishment of debt, net	  	 	(11	) 	 	 	—  	 	 	 	—  	  	
Gains (losses) from life block transactions, net	  	 	(6	) 	 	 	—  	 	 	 	—  	  	
Expenses related to restructuring, net	  	 	(9	) 	 	 	—  	 	 	 	(3	) 	
Fees associated with bond consent solicitation, net	  	 	(12	) 	 	 	—  	 	 	 	—  	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders	  	 	72	  	 	 	153	 	 	 	(219	) 	
Net income attributable to noncontrolling interests	  	 	55	  	 	 	50	 	 	 	52	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Income (loss) from continuing operations	  	 	127	  	 	 	203	 	 	 	(167	) 	
Income (loss) from discontinued operations, net of taxes	  	 	(19	) 	 	 	1	 	 	 	(73	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income (loss)	  	 	108	  	 	 	204	 	 	 	(240	) 	
Less: net income attributable to noncontrolling interests	  	 	55	  	 	 	50	 	 	 	52	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income (loss) available to Genworth Financial, Inc.’s common stockholders	  	$	53	  	 	$	154	 	 	$	(292	) 	

Net income (loss) available to Genworth Financial, Inc.’s common stockholders per common share:	  				 				 				
Basic	  	$	0.11	  	 	$	0.31	 	 	$	(0.59	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.11	  	 	$	0.31	 	 	$	(0.59	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net operating income (loss) per common share:	  				 				 				
Basic	  	$	0.21	  	 	$	0.31	 	 	$	(0.17	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted	  	$	0.21	  	 	$	0.31	 	 	$	(0.17	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Weighted-average shares outstanding:	  				 				 				
Basic	  	 	498.0	  	 	 	497.0	 	 	 	497.6	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted 8	  	 	499.4	  	 	 	498.9	 	 	 	497.6	  	

Reconciliation of net investment gains (losses):	  				 				 				
Net investment gains (losses), gross	  	$	(19	) 	 	$	(16	) 	 	$	(16	) 	
Adjustments for:	  				 				 				
Deferred acquisition costs and other intangible amortization and certain benefit reserves	  	 	9	  	 	 	6	 	 	 	12	  	
Net investment gains (losses) attributable to noncontrolling interests	  	 	(9	) 	 	 	7	 	 	 	3	  	
Taxes	  	 	6	  	 	 	2	 	 	 	1	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), net of taxes and other adjustments	  	$	(13	) 	 	$	(1	) 	 	$	—	  	

 

8  	Under applicable accounting guidance, companies in a loss position are required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share. Therefore, as a result of the loss from continuing operations, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 1.4 million for the three months ended December 31, 2015 would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations in these periods, dilutive potential weighted-average common shares outstanding would have been 499.0 million for the three months ended December 31, 2015.	
 
16

Condensed Consolidated Balance Sheets
(Amounts in millions)

 	  	March 31,
2016	 	 	December 31,
2015	 	
Assets	  				 				
Cash, cash equivalents and invested assets	  	$	76,728	 	 	$	75,746	 	
Deferred acquisition costs	  	 	4,235	 	 	 	4,398	 	
Intangible assets and goodwill	  	 	291	 	 	 	357	 	
Reinsurance recoverable	  	 	17,587	 	 	 	17,245	 	
Deferred tax and other assets	  	 	577	 	 	 	675	 	
Separate account assets	  	 	7,624	 	 	 	7,883	 	
Assets held for sale	  	 	131	 	 	 	127	 	
	  	 	 	 	 	 	 	 	
Total assets	  	$	107,173	 	 	$	106,431	 	
	  	 	 	 	 	 	 	 	
Liabilities and equity	  				 				
Liabilities:	  				 				
Future policy benefits	  	$	36,776	 	 	$	36,475	 	
Policyholder account balances	  	 	26,354	 	 	 	26,209	 	
Liability for policy and contract claims	  	 	8,177	 	 	 	8,095	 	
Unearned premiums	  	 	3,378	 	 	 	3,308	 	
Deferred tax and other liabilities	  	 	4,045	 	 	 	3,028	 	
Borrowings related to securitization entities	  	 	173	 	 	 	179	 	
Non-recourse funding obligations	  	 	310	 	 	 	1,920	 	
Long-term borrowings	  	 	4,232	 	 	 	4,570	 	
Separate account liabilities	  	 	7,624	 	 	 	7,883	 	
Liabilities held for sale	  	 	131	 	 	 	127	 	
	  	 	 	 	 	 	 	 	
Total liabilities	  	 	91,200	 	 	 	91,794	 	
	  	 	 	 	 	 	 	 	
Equity:	  				 				
Common stock	  	 	1	 	 	 	1	 	
Additional paid-in capital	  	 	11,952	 	 	 	11,949	 	
	  	 	 	 	 	 	 	 	
Accumulated other comprehensive income (loss):	  				 				
Net unrealized investment gains (losses):	  				 				
Net unrealized gains (losses) on securities not other-than-temporarily impaired	  	 	2,043	 	 	 	1,236	 	
Net unrealized gains (losses) on other-than-temporarily impaired securities	  	 	14	 	 	 	18	 	
	  	 	 	 	 	 	 	 	
Net unrealized investment gains (losses)	  	 	2,057	 	 	 	1,254	 	
	  	 	 	 	 	 	 	 	
Derivatives qualifying as hedges	  	 	2,302	 	 	 	2,045	 	
Foreign currency translation and other adjustments	  	 	(174	) 	 	 	(289	) 	
	  	 	 	 	 	 	 	 	
Total accumulated other comprehensive income (loss)	  	 	4,185	 	 	 	3,010	 	
Retained earnings	  	 	617	 	 	 	564	 	
Treasury stock, at cost	  	 	(2,700	) 	 	 	(2,700	) 	
	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	14,055	 	 	 	12,824	 	
Noncontrolling interests	  	 	1,918	 	 	 	1,813	 	
	  	 	 	 	 	 	 	 	
Total equity	  	 	15,973	 	 	 	14,637	 	
	  	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	107,173	 	 	$	106,431	 	

17

Impact of Foreign Exchange on Operating Results 9
Three months ended March 31, 2016

 	  	Percentages
Including Foreign
Exchange	 	 	Percentages
Excluding Foreign
Exchange 10	 	
			
Canada Mortgage Insurance (MI):	  				 				
Flow new insurance written	  	 	(24	)% 	 	 	(12	)% 	
Flow new insurance written (1Q16 vs. 4Q15)	  	 	(47	)% 	 	 	(45	)% 	
			
Australia MI:	  				 				
Flow new insurance written	  	 	(24	)% 	 	 	(16	)% 	
Flow new insurance written (1Q16 vs. 4Q15)	  	 	(4	)% 	 	 	(4	)% 	

9  	All percentages are comparing the first quarter of 2016 to the first quarter of 2015 unless otherwise stated.	
10  	The impact of foreign exchange was calculated using the comparable prior period exchange rates.	
 
18

Reconciliation of Core Yield to Reported Yield

(Assets - amounts in billions)	  	Three
months ended
March 31,
2016	 	
Reported Total Invested Assets and Cash	  	$	76.0	  	
Subtract:	  				
Securities lending	  	 	0.4	  	
Unrealized gains (losses)	  	 	6.3	  	
	  	 	 	 	
Adjusted end of period invested assets	  	$	69.3	  	
	  	 	 	 	
Average Invested Assets Used in Reported Yield Calculation	  	$	70.0	  	
Subtract:	  				
Restricted commercial mortgage loans and other invested assets related to securitization entities 11	  	 	0.2	  	
	  	 	 	 	
Average Invested Assets Used in Core Yield Calculation	  	$	69.8	  	

(Income - amounts in millions)	  	 	 	
Reported Net Investment Income	  	$	789	  	
Subtract:	  				
Bond calls and commercial mortgage loan prepayments	  	 	11	  	
Other non-core items 12	  	 	15	  	
Restricted commercial mortgage loans and other invested assets related to securitization entities 11	  	 	3	  	
	  	 	 	 	
Core Net Investment Income	  	$	760	  	

Reported Yield	  	 	4.51	% 	
	  	 	 	 	
Core Yield	  	 	4.36	% 	

11  	Represents the incremental assets and investment income related to restricted commercial mortgage loans and other invested assets.	
12  	Includes cost basis adjustments on structured securities and various other immaterial items.	
 
19

Table of Contents
Exhibit 99.2

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016

 Table of Contents	  	Page	 	
Investor Letter	  	 	3	  	
Use of Non-GAAP Measures	  	 	4	  	
Results of Operations and Selected Operating Performance Measures	  	 	5	  	
Financial Highlights	  	 	6	  	
		
Consolidated Quarterly Results 	  				
Consolidated Net Income (Loss) by Quarter	  	 	8	  	
Net Operating Income (Loss) by Segment by Quarter	  	 	9	  	
Consolidated Balance Sheets	  	 	10-11	  	
Consolidated Balance Sheets by Segment	  	 	12-13	  	
Deferred Acquisition Costs (DAC) Rollforward	  	 	14	  	
		
Quarterly Results by Business 	  				
Net Operating Income and Sales—U.S. Mortgage Insurance Segment	  	 	16-22	  	
Net Operating Income and Sales—Canada Mortgage Insurance Segment	  	 	24-27	  	
Net Operating Income and Sales—Australia Mortgage Insurance Segment	  	 	29-32	  	
Net Operating Income (Loss) and Sales—U.S. Life Insurance Segment	  	 	34-37	  	
Net Operating Income (Loss)—Runoff Segment	  	 	39	  	
Net Operating Loss and Other Metrics—Corporate and Other Activities	  	 	41	  	
		
Additional Financial Data	  				
Investments Summary	  	 	43	  	
Fixed Maturity Securities Summary	  	 	44	  	
General Account GAAP Net Investment Income Yields	  	 	45	  	
Net Investment Gains (Losses), Net—Detail	  	 	46	  	
		
Reconciliations of Non-GAAP Measures	  				
Reconciliation of Operating Return On Equity (ROE)	  	 	48	  	
Reconciliation of Core Yield	  	 	49	  	
		
Corporate Information	  				
Industry Ratings	  	 	51	  	
Note:
Unless otherwise noted, references in this financial supplement to income (loss) from continuing operations, income (loss) from continuing operations per share, net income (loss), net income (loss) per share, book value and book value per common share should be read as income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders, income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per share, net income (loss) available to Genworth Financial, Inc.’s common stockholders, net income (loss) available to Genworth Financial, Inc.’s common stockholders per share, book value available to Genworth Financial, Inc.’s common stockholders and book value available to Genworth Financial, Inc.’s common stockholders per share, respectively.
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Dear Investor,
Thank you for your continued interest in Genworth Financial.
Regards,
David Rosenbaum
Investor Relations
InvestorInfo@genworth.com
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Use of Non-GAAP Measures
This financial supplement includes the non-GAAP (1) financial measure entitled “net operating income (loss).” The chief operating decision maker evaluates segment performance and allocates resources on the basis of net operating income (loss). The company defines net operating income (loss) as income (loss) from continuing operations excluding the after-tax effects of income attributable to noncontrolling interests, net investment gains (losses), goodwill impairments, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and infrequent or unusual non-operating items. Gains (losses) on insurance block transactions are defined as gains (losses) on the early extinguishment of non-recourse funding obligations, early termination fees for other financing restructuring and/or resulting gains (losses) on reinsurance restructuring for certain blocks of business. The company excludes net investment gains (losses) and infrequent or unusual non-operating items because the company does not consider them to be related to the operating performance of the company’s segments and Corporate and Other activities. A component of the company’s net investment gains (losses) is the result of impairments, the size and timing of which can vary significantly depending on market credit cycles. In addition, the size and timing of other investment gains (losses) can be subject to the company’s discretion and are influenced by market opportunities, as well as asset-liability matching considerations. Goodwill impairments, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions and restructuring costs are also excluded from net operating income (loss) because, in the company’s opinion, they are not indicative of overall operating trends. Infrequent or unusual non-operating items are also excluded from net operating income (loss) if, in the company’s opinion, they are not indicative of overall operating trends.
While some of these items may be significant components of net income (loss) available to Genworth Financial, Inc.’s common stockholders in accordance with GAAP, the company believes that net operating income (loss) and measures that are derived from or incorporate net operating income (loss), including net operating income (loss) per common share on a basic and diluted basis, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses net operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. However, the items excluded from net operating income (loss) have occurred in the past and could, and in some cases will, recur in the future. Net operating income (loss) and net operating income (loss) per common share on a basic and diluted basis are not substitutes for net income (loss) available to Genworth Financial, Inc.’s common stockholders or net income (loss) available to Genworth Financial, Inc.’s common stockholders per common share on a basic and diluted basis determined in accordance with GAAP. In addition, the company’s definition of net operating income (loss) may differ from the definitions used by other companies.
In the first quarter of 2016, the company recorded an estimated gain of $20 million, net of taxes, related to the planned sale of the mortgage insurance business in Europe. The company also recognized an estimated loss of $134 million, net of taxes, in the fourth quarter of 2015 for the planned sale of this business, as well as a tax charge of $7 million in the third quarter of 2015 from potential business portfolio changes related to this business resulting in a total estimated loss on sale of $141 million in 2015.
In January 2016, the company paid a make-whole expense of $13 million, net of taxes, related to the early redemption of Genworth Holdings, Inc.’s (Genworth Holdings) 2016 notes. The company also repurchased $28 million principal amount of Genworth Holdings’ notes with various maturity dates for a gain of $2 million, net of taxes, in the first quarter of 2016. In the third quarter of 2015, the company paid an early redemption payment of approximately $1 million, net of taxes and portion attributable to noncontrolling interests, related to the early redemption of Genworth Financial Mortgage Insurance Pty Limited’s notes that were scheduled to mature in 2021. In the third quarter of 2015, the company also repurchased approximately $50 million principal amount of Genworth Holdings’ notes with various maturity dates for a loss of $1 million, net of taxes. These transactions were excluded from net operating income (loss) for the periods presented as they related to a gain (loss) on the early extinguishment of debt.
In the first quarter of 2016, the company completed a life block transaction resulting in an after-tax loss of $6 million in connection with the early extinguishment of non-recourse funding obligations. In the third quarter of 2015, the company recorded a DAC impairment of $296 million, net of taxes, on certain term life insurance policies in connection with entering into an agreement to complete a life block transaction.
In the first quarter of 2016, the company recorded an after-tax expense of $9 million related to restructuring costs as part of an expense reduction plan as the company evaluates and appropriately sizes its organizational needs and expenses. In the fourth and second quarters of 2015, the company also recorded an after-tax expense of $3 million and $2 million, respectively, related to restructuring costs.
There were no infrequent or unusual items excluded from net operating income (loss) during the periods presented other than fees incurred during the first quarter of 2016 related to Genworth Holdings’ bond consent solicitation of $12 million, net of taxes, for broker, advisor and investment banking fees.
The table on page 9 of this financial supplement reflects net operating income (loss) as determined in accordance with accounting guidance related to segment reporting, and a reconciliation of net operating income (loss) of the company’s segments and Corporate and Other activities to net income (loss) available to Genworth Financial, Inc.’s common stockholders for the periods presented. The financial supplement includes other non-GAAP measures management believes enhances the understanding and comparability of performance by highlighting underlying business activity and profitability drivers. These additional non-GAAP measures are on pages 48 and 49 of this financial supplement.
Adjustments to reconcile net income (loss) attributable to Genworth Financial, Inc.’s common stockholders and net operating income (loss) assume a 35% tax rate and are net of the portion attributable to noncontrolling interests. Net investment gains (losses) are also adjusted for DAC and other intangible amortization and certain benefit reserves (see page 46).

(1)  	U.S. Generally Accepted Accounting Principles	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Results of Operations and Selected Operating Performance Measures
The company’s chief operating decision maker evaluates segment performance and allocates resources on the basis of net operating income (loss). The table on page 9 of this financial supplement reflects net operating income (loss) as determined in accordance with accounting guidance related to segment reporting, and a reconciliation of net operating income (loss) of the company’s segments and Corporate and Other activities to net income (loss) available to Genworth Financial, Inc.’s common stockholders for the periods presented.
The company allocates the consolidated provision for income taxes to its operating segments. The allocation methodology applies a specific tax rate to the pre-tax income (loss) of each segment, which is then adjusted in each segment to reflect the tax attributes of items unique to that segment such as foreign income. The difference between the consolidated provision for income taxes and the sum of the provision for income taxes in each segment is reflected in Corporate and Other activities. The annually-determined tax rates and adjustments to each segment’s provision for income taxes are estimates which are subject to review and could change from year to year.
This financial supplement contains selected operating performance measures including “sales” and “insurance in-force” or “risk in-force” which are commonly used in the insurance industry as measures of operating performance.
Management regularly monitors and reports sales metrics as a measure of volume of new and renewal business generated in a period. Sales refer to: (1) new insurance written for mortgage insurance; (2) annualized first-year premiums for long-term care and term life insurance products; (3) annualized first-year deposits plus 5% of excess deposits for universal and term universal life insurance products; (4) 10% of premium deposits for linked-benefits products; and (5) new and additional premiums/deposits for fixed annuities. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers new insurance written, annualized first-year premiums/deposits, premium equivalents and new premiums/deposits to be a measure of the company’s operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company’s revenues or profitability during that period.
Management regularly monitors and reports insurance in-force and risk in-force. Insurance in-force for the mortgage insurance businesses is a measure of the aggregate face value of outstanding insurance policies as of the respective reporting date. For risk in-force in the mortgage insurance businesses, the company has computed an “effective” risk in-force amount, which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Risk in-force for the U.S. mortgage insurance business is the obligation that is limited under contractual terms to the amounts less than 100% of the mortgage loan value. Effective risk in-force has been calculated by applying to insurance in-force a factor of 35% that represents the highest expected average per-claim payment for any one underwriting year over the life of the company’s businesses in Canada and Australia. In Australia, the company has certain risk share arrangements where it provides pro-rata coverage of certain loans rather than 100% coverage. As a result, for loans with these risk share arrangements, the applicable pro-rata coverage amount provided is used when applying the factor. The company considers insurance in-force and risk in-force to be measures of the company’s operating performance because they represent measures of the size of the business at a specific date which will generate revenues and profits in a future period, rather than measures of the company’s revenues or profitability during that period.
Management also regularly monitors and reports a loss ratio for the company’s businesses. For the mortgage insurance businesses, the loss ratio is the ratio of incurred losses and loss adjustment expenses to net earned premiums. For the long-term care insurance business, the loss ratio is the ratio of benefits and other changes in reserves less tabular interest on reserves less loss adjustment expenses to net earned premiums. The company considers the loss ratio to be a measure of underwriting performance in these businesses and helps to enhance the understanding of the operating performance of the businesses.
These operating performance measures enable the company to compare its operating performance across periods without regard to revenues or profitability related to policies or contracts sold in prior periods or from investments or other sources.
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Financial Highlights
(amounts in millions, except per share data)

Balance Sheet Data	  	March 31,
2016	 	 	December 31,
2015	 	 	September 30,
2015	 	 	June 30,
2015	 	 	March 31,
2015	 	
Total Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income	  	$	9,870	  	 	$	9,814	  	 	$	10,101	  	 	$	10,381	  	 	$	10,632	  	
Total accumulated other comprehensive income	  	 	4,185	  	 	 	3,010	  	 	 	3,478	  	 	 	3,309	  	 	 	4,692	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	$	14,055	  	 	$	12,824	  	 	$	13,579	  	 	$	13,690	  	 	$	15,324	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Book value per common share	  	$	28.19	  	 	$	25.76	  	 	$	27.29	  	 	$	27.52	  	 	$	30.81	  	
Book value per common share, excluding accumulated other comprehensive income	  	$	19.80	  	 	$	19.71	  	 	$	20.30	  	 	$	20.87	  	 	$	21.38	  	
Common shares outstanding as of the balance sheet date	  	 	498.5	  	 	 	497.8	  	 	 	497.5	  	 	 	497.4	  	 	 	497.4	  	
		
 	  	Twelve months ended	 	
Twelve Month Rolling Average ROE	  	March 31,
2016	 	 	December 31,
2015	 	 	September 30,
2015	 	 	June 30,
2015	 	 	March 31,
2015	 	
GAAP Basis ROE	  	 	-7.0%	  	 	 	-6.0%	  	 	 	-10.3%	  	 	 	-15.0%	  	 	 	-11.3%	  	
Operating ROE (1)	  	 	  2.0%	  	 	 	  2.5%	  	 	 	  -0.7%	  	 	 	  -4.2%	  	 	 	  -3.8%	  	
		
 	  	Three months ended	 	
Quarterly Average ROE	  	March 31,
2016	 	 	December 31,
2015	 	 	September 30,
2015	 	 	June 30,
2015	 	 	March 31,
2015	 	
GAAP Basis ROE	  	 	2.2%	  	 	 	-11.7%	  	 	 	-11.1%	  	 	 	-7.3%	  	 	 	5.8%	 	
Operating ROE (1)	  	 	4.2%	  	 	 	  -3.3%	  	 	 	   2.5%	  	 	 	  4.5%	  	 	 	5.8%	 	

Basic and Diluted Shares	  	Three months ended
March 31, 2016	 	
Weighted-average common shares used in basic earnings per common share calculations	  	 	498.0	  	
Potentially dilutive securities:	  				
Stock options, restricted stock units and stock appreciation rights	  	 	1.4	  	
	  	 	 	 	
Weighted-average common shares used in diluted earnings per common share calculations	  	 	499.4	  	

(1)  	See page 48 herein for a reconciliation of GAAP Basis ROE to Operating ROE.	
 
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Consolidated Quarterly Results
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Consolidated Net Income (Loss) by Quarter
(amounts in millions, except per share amounts)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	794	  	  	$	1,157	  	 	$	1,145	  	 	$	1,134	  	 	$	1,143	  	 	$	4,579	  	
Net investment income	  	 	789	  	  	 	781	  	 	 	783	  	 	 	793	  	 	 	781	  	 	 	3,138	  	
Net investment gains (losses)	  	 	(19	) 	  	 	(16	) 	 	 	(51	) 	 	 	8	  	 	 	(16	) 	 	 	(75	) 	
Policy fees and other income	  	 	221	  	  	 	234	  	 	 	223	  	 	 	222	  	 	 	227	  	 	 	906	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	1,785	  	  	 	2,156	  	 	 	2,100	  	 	 	2,157	  	 	 	2,135	  	 	 	8,548	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves	  	 	860	  	  	 	1,435	  	 	 	1,290	  	 	 	1,232	  	 	 	1,192	  	 	 	5,149	  	
Interest credited	  	 	177	  	  	 	180	  	 	 	179	  	 	 	181	  	 	 	180	  	 	 	720	  	
Acquisition and operating expenses, net of deferrals	  	 	394	  	  	 	433	  	 	 	314	  	 	 	295	  	 	 	267	  	 	 	1,309	  	
Amortization of deferred acquisition costs and intangibles	  	 	99	  	  	 	207	  	 	 	563	  	 	 	101	  	 	 	95	  	 	 	966	  	
Interest expense	  	 	105	  	  	 	104	  	 	 	105	  	 	 	103	  	 	 	107	  	 	 	419	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	1,635	  	  	 	2,359	  	 	 	2,451	  	 	 	1,912	  	 	 	1,841	  	 	 	8,563	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	150	  	  	 	(203	) 	 	 	(351	) 	 	 	245	  	 	 	294	  	 	 	(15	) 	
Provision (benefit) for income taxes	  	 	23	  	  	 	(36	) 	 	 	(134	) 	 	 	70	  	 	 	91	  	 	 	(9	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	127	  	  	 	(167	) 	 	 	(217	) 	 	 	175	  	 	 	203	  	 	 	(6	) 	
Income (loss) from discontinued operations, net of taxes (1)	  	 	(19	) 	  	 	(73	) 	 	 	(21	) 	 	 	(314	) 	 	 	1	  	 	 	(407	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)	  	 	108	  	  	 	(240	) 	 	 	(238	) 	 	 	(139	) 	 	 	204	  	 	 	(413	) 	
Less: net income attributable to noncontrolling interests	  	 	55	  	  	 	52	  	 	 	46	  	 	 	54	  	 	 	50	  	 	 	202	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	$	53	  	  	$	(292	) 	 	$	(284	) 	 	$	(193	) 	 	$	154	  	 	$	(615	) 	

Earnings (Loss) Per Share Data:	  				  				 				 				 				 				
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per common share	  				  				 				 				 				 				
Basic	  	$	0.14	  	  	$	(0.44	) 	 	$	(0.53	) 	 	$	0.24	  	 	$	0.31	  	 	$	(0.42	) 	
Diluted	  	$	0.14	  	  	$	(0.44	) 	 	$	(0.53	) 	 	$	0.24	  	 	$	0.31	  	 	$	(0.42	) 	
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per common share	  				  				 				 				 				 				
Basic	  	$	0.11	  	  	$	(0.59	) 	 	$	(0.57	) 	 	$	(0.39	) 	 	$	0.31	  	 	$	(1.24	) 	
Diluted	  	$	0.11	  	  	$	(0.59	) 	 	$	(0.57	) 	 	$	(0.39	) 	 	$	0.31	  	 	$	(1.24	) 	
Weighted-average common shares outstanding	  				  				 				 				 				 				
Basic	  	 	498.0	  	  	 	497.6	  	 	 	497.4	  	 	 	497.4	  	 	 	497.0	  	 	 	497.4	  	
Diluted (2)	  	 	499.4	  	  	 	497.6	  	 	 	497.4	  	 	 	499.3	  	 	 	498.9	  	 	 	497.4	  	

(1)  	Income (loss) from discontinued operations related to the lifestyle protection business that was sold on December 1, 2015. During the first quarter of 2016, the company recorded an additional after-tax loss of approximately $19 million as it continues to finalize closing balance sheet purchase price adjustments.	
(2)  	Under applicable accounting guidance, companies in a loss position are required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share. Therefore, as a result of the loss from continuing operations, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 1.4 million and 1.3 million, respectively, for the three months ended December 31, 2015 and September 30, 2015 and 1.6 million for the twelve months ended December 31, 2015 would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations in these periods, dilutive potential weighted-average common shares outstanding would have been 499.0 million and 498.7 million, respectively, for the three months ended December 31, 2015 and September 30, 2015 and 499.0 million for the twelve months ended December 31, 2015.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Net Operating Income (Loss) by Segment by Quarter
(amounts in millions, except per share amounts)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
U.S. Mortgage Insurance segment	  	$	61	  	  	$	41	  	 	$	37	  	 	$	49	  	 	$	52	  	 	$	179	  	
Canada Mortgage Insurance segment	  	 	33	  	  	 	37	  	 	 	38	  	 	 	37	  	 	 	40	  	 	 	152	  	
Australia Mortgage Insurance segment	  	 	19	  	  	 	22	  	 	 	21	  	 	 	29	  	 	 	30	  	 	 	102	  	
U.S. Life Insurance segment:	  			 	  				 				 				 				 				
Long-Term Care Insurance	  	 	34	  	  	 	19	  	 	 	(10	) 	 	 	10	  	 	 	10	  	 	 	29	  	
Life Insurance	  	 	31	  	  	 	(173	) 	 	 	31	  	 	 	22	  	 	 	40	  	 	 	(80	) 	
Fixed Annuities	  	 	26	  	  	 	19	  	 	 	19	  	 	 	25	  	 	 	31	  	 	 	94	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance segment	  	 	91	  	  	 	(135	) 	 	 	40	  	 	 	57	  	 	 	81	  	 	 	43	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Runoff segment	  	 	4	  	  	 	11	  	 	 	(4	) 	 	 	9	  	 	 	11	  	 	 	27	  	
Corporate and Other	  	 	(105	) 	  	 	(58	) 	 	 	(68	) 	 	 	(62	) 	 	 	(60	) 	 	 	(248	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)	  	 	103	  	  	 	(82	) 	 	 	64	  	 	 	119	  	 	 	154	  	 	 	255	  	
ADJUSTMENTS TO NET OPERATING INCOME (LOSS):	  			 	  				 				 				 				 				
Net investment gains (losses), net	  	 	(13	) 	  	 	—  	  	 	 	(22	) 	 	 	4	  	 	 	(1	) 	 	 	(19	) 	
Gains (losses) on sale of business, net	  	 	20	  	  	 	(134	) 	 	 	(7	) 	 	 	—  	  	 	 	—  	  	 	 	(141	) 	
Gains (losses) on early extinguishment of debt, net	  	 	(11	) 	  	 	—  	  	 	 	(2	) 	 	 	—  	  	 	 	—  	  	 	 	(2	) 	
Gains (losses) from life block transactions, net	  	 	(6	) 	  	 	—  	  	 	 	(296	) 	 	 	—  	  	 	 	—  	  	 	 	(296	) 	
Expenses related to restructuring, net	  	 	(9	) 	  	 	(3	) 	 	 	—  	  	 	 	(2	) 	 	 	—  	  	 	 	(5	) 	
Fees associated with bond consent solicitation, net	  	 	(12	) 	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL INC.’S COMMON STOCKHOLDERS	  	 	72	  	  	 	(219	) 	 	 	(263	) 	 	 	121	  	 	 	153	  	 	 	(208	) 	
Net income attributable to noncontrolling interests	  	 	55	  	  	 	52	  	 	 	46	  	 	 	54	  	 	 	50	  	 	 	202	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	127	  	  	 	(167	) 	 	 	(217	) 	 	 	175	  	 	 	203	  	 	 	(6	) 	
Income (loss) from discontinued operations, net of taxes	  	 	(19	) 	  	 	(73	) 	 	 	(21	) 	 	 	(314	) 	 	 	1	  	 	 	(407	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)	  	 	108	  	  	 	(240	) 	 	 	(238	) 	 	 	(139	) 	 	 	204	  	 	 	(413	) 	
Less: net income attributable to noncontrolling interests	  	 	55	  	  	 	52	  	 	 	46	  	 	 	54	  	 	 	50	  	 	 	202	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	$	53	  	  	$	(292	) 	 	$	(284	) 	 	$	(193	) 	 	$	154	  	 	$	(615	) 	

Earnings (Loss) Per Share Data:	  				  				 				 				 				 				
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per common share	  				  				
Basic	  	$	0.11	  	  	$	(0.59	) 	 	$	(0.57	) 	 	$	(0.39	) 	 	$	0.31	  	 	$	(1.24	) 	
Diluted	  	$	0.11	  	  	$	(0.59	) 	 	$	(0.57	) 	 	$	(0.39	) 	 	$	0.31	  	 	$	(1.24	) 	
Net operating income (loss) per common share	  				  				 				 				 				 				
Basic	  	$	0.21	  	  	$	(0.17	) 	 	$	0.13	  	 	$	0.24	  	 	$	0.31	  	 	$	0.51	  	
Diluted	  	$	0.21	  	  	$	(0.17	) 	 	$	0.13	  	 	$	0.24	  	 	$	0.31	  	 	$	0.51	  	
Weighted-average common shares outstanding	  				  				 				 				 				 				
Basic	  	 	498.0	  	  	 	497.6	  	 	 	497.4	  	 	 	497.4	  	 	 	497.0	  	 	 	497.4	  	
Diluted (1)	  	 	499.4	  	  	 	497.6	  	 	 	497.4	  	 	 	499.3	  	 	 	498.9	  	 	 	497.4	  	

(1)  	Under applicable accounting guidance, companies in a loss position are required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share. Therefore, as a result of the loss from continuing operations, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 1.4 million and 1.3 million, respectively, for the three months ended December 31, 2015 and September 30, 2015 and 1.6 million for the twelve months ended December 31, 2015 would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations in these periods, dilutive potential weighted-average common shares outstanding would have been 499.0 million and 498.7 million, respectively, for the three months ended December 31, 2015 and September 30, 2015 and 499.0 million for the twelve months ended December 31, 2015. Since it had net operating income for the three months ended September 30, 2015 and the twelve months ended December 31, 2015, the company used 498.7 million and 499.0 million, respectively, diluted weighted-average common shares outstanding in the calculation of diluted net operating income per common share.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Consolidated Balance Sheets
(amounts in millions)

 	  	March 31,
2016	 	  	December 31,
2015	 	  	September 30,
2015	 	  	June 30,
2015	 	  	March 31,
2015	 	
ASSETS	  			 	  				  				  				  				
Investments:	  			 	  				  				  				  				
Fixed maturity securities available-for-sale, at fair value	  	$	60,290	  	  	$	58,197	  	  	$	60,646	  	  	$	60,368	  	  	$	61,732	  	
Equity securities available-for-sale, at fair value	  	 	431	  	  	 	310	  	  	 	273	  	  	 	299	  	  	 	299	  	
Commercial mortgage loans	  	 	6,179	  	  	 	6,170	  	  	 	6,133	  	  	 	6,175	  	  	 	6,149	  	
Restricted commercial mortgage loans related to securitization entities	  	 	155	  	  	 	161	  	  	 	175	  	  	 	181	  	  	 	188	  	
Policy loans	  	 	1,565	  	  	 	1,568	  	  	 	1,567	  	  	 	1,584	  	  	 	1,506	  	
Other invested assets	  	 	2,923	  	  	 	2,309	  	  	 	2,764	  	  	 	2,176	  	  	 	2,667	  	
Restricted other invested assets related to securitization entities	  	 	422	  	  	 	413	  	  	 	412	  	  	 	410	  	  	 	411	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total investments	  	 	71,965	  	  	 	69,128	  	  	 	71,970	  	  	 	71,193	  	  	 	72,952	  	
Cash and cash equivalents	  	 	4,043	  	  	 	5,965	  	  	 	3,635	  	  	 	4,069	  	  	 	4,937	  	
Accrued investment income	  	 	720	  	  	 	653	  	  	 	682	  	  	 	612	  	  	 	713	  	
Deferred acquisition costs	  	 	4,235	  	  	 	4,398	  	  	 	4,441	  	  	 	4,899	  	  	 	4,748	  	
Intangible assets and goodwill	  	 	291	  	  	 	357	  	  	 	297	  	  	 	300	  	  	 	221	  	
Reinsurance recoverable	  	 	17,587	  	  	 	17,245	  	  	 	17,255	  	  	 	17,276	  	  	 	17,285	  	
Other assets	  	 	577	  	  	 	520	  	  	 	523	  	  	 	580	  	  	 	473	  	
Deferred tax asset	  	 	—  	  	  	 	155	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	
Separate account assets	  	 	7,624	  	  	 	7,883	  	  	 	7,893	  	  	 	8,702	  	  	 	9,064	  	
Assets held for sale (1)	  	 	131	  	  	 	127	  	  	 	1,484	  	  	 	1,493	  	  	 	1,897	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total assets	  	$	107,173	  	  	$	106,431	  	  	$	108,180	  	  	$	109,124	  	  	$	112,290	  	

 

(1)  	The assets held for sale related to the lifestyle protection insurance business (prior to its sale on December 1, 2015) and the European mortgage insurance business (prior to its sale) have been segregated in the consolidated balance sheets.	
 
10

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
Consolidated Balance Sheets
(amounts in millions)

 	  	March 31,
2016	 	  	December 31,
2015	 	 	September 30,
2015	 	 	June 30,
2015	 	 	March 31,
2015	 	
LIABILITIES AND EQUITY	  			 	  				 				 				 				
Liabilities:	  			 	  				 				 				 				
Future policy benefits	  	$	36,776	  	  	$	36,475	  	 	$	36,472	  	 	$	36,298	  	 	$	36,488	  	
Policyholder account balances	  	 	26,354	  	  	 	26,209	  	 	 	26,000	  	 	 	25,987	  	 	 	26,136	  	
Liability for policy and contract claims	  	 	8,177	  	  	 	8,095	  	 	 	8,009	  	 	 	7,936	  	 	 	7,877	  	
Unearned premiums	  	 	3,378	  	  	 	3,308	  	 	 	3,281	  	 	 	3,373	  	 	 	3,266	  	
Other liabilities	  	 	3,596	  	  	 	3,004	  	 	 	3,225	  	 	 	3,125	  	 	 	3,613	  	
Borrowings related to securitization entities	  	 	173	  	  	 	179	  	 	 	188	  	 	 	199	  	 	 	205	  	
Non-recourse funding obligations	  	 	310	  	  	 	1,920	  	 	 	1,937	  	 	 	1,953	  	 	 	1,968	  	
Long-term borrowings	  	 	4,232	  	  	 	4,570	  	 	 	4,573	  	 	 	4,581	  	 	 	4,575	  	
Deferred tax liability	  	 	449	  	  	 	24	  	 	 	200	  	 	 	258	  	 	 	1,056	  	
Separate account liabilities	  	 	7,624	  	  	 	7,883	  	 	 	7,893	  	 	 	8,702	  	 	 	9,064	  	
Liabilities held for sale (1)	  	 	131	  	  	 	127	  	 	 	986	  	 	 	985	  	 	 	961	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities	  	 	91,200	  	  	 	91,794	  	 	 	92,764	  	 	 	93,397	  	 	 	95,209	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Equity:	  			 	  				 				 				 				
Common stock	  	 	1	  	  	 	1	  	 	 	1	  	 	 	1	  	 	 	1	  	
Additional paid-in capital	  	 	11,952	  	  	 	11,949	  	 	 	11,944	  	 	 	11,940	  	 	 	11,998	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Accumulated other comprehensive income (loss):	  			 	  				 				 				 				
Net unrealized investment gains (losses):	  			 	  				 				 				 				
Net unrealized gains (losses) on securities not other-than-temporarily impaired	  	 	2,043	  	  	 	1,236	  	 	 	1,709	  	 	 	1,606	  	 	 	2,724	  	
Net unrealized gains (losses) on other-than-temporarily impaired securities	  	 	14	  	  	 	18	  	 	 	22	  	 	 	22	  	 	 	24	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net unrealized investment gains (losses)	  	 	2,057	  	  	 	1,254	  	 	 	1,731	  	 	 	1,628	  	 	 	2,748	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Derivatives qualifying as hedges	  	 	2,302	  	  	 	2,045	  	 	 	2,130	  	 	 	1,913	  	 	 	2,247	  	
Foreign currency translation and other adjustments	  	 	(174	) 	  	 	(289	) 	 	 	(383	) 	 	 	(232	) 	 	 	(303	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total accumulated other comprehensive income	  	 	4,185	  	  	 	3,010	  	 	 	3,478	  	 	 	3,309	  	 	 	4,692	  	
Retained earnings	  	 	617	  	  	 	564	  	 	 	856	  	 	 	1,140	  	 	 	1,333	  	
Treasury stock, at cost	  	 	(2,700	) 	  	 	(2,700	) 	 	 	(2,700	) 	 	 	(2,700	) 	 	 	(2,700	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	14,055	  	  	 	12,824	  	 	 	13,579	  	 	 	13,690	  	 	 	15,324	  	
Noncontrolling interests	  	 	1,918	  	  	 	1,813	  	 	 	1,837	  	 	 	2,037	  	 	 	1,757	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total equity	  	 	15,973	  	  	 	14,637	  	 	 	15,416	  	 	 	15,727	  	 	 	17,081	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	107,173	  	  	$	106,431	  	 	$	108,180	  	 	$	109,124	  	 	$	112,290	  	

 

(1)  	The liabilities held for sale related to the lifestyle protection insurance business (prior to its sale on December 1, 2015) and the European mortgage insurance business (prior to its sale) have been segregated in the consolidated balance sheets.	
 
11

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Consolidated Balance Sheet by Segment
(amounts in millions)

 	  	March 31, 2016	 	
 	  	U.S.
Mortgage
Insurance	 	 	Canada
Mortgage
Insurance	 	 	Australia
Mortgage
Insurance	 	  	U.S. Life
Insurance	 	  	Runoff	 	 	Corporate and
Other (1) 	 	 	Total	 	
ASSETS	  				 				 				  				  				 				 				
Cash and investments	  	$	2,283	  	 	$	4,552	  	 	$	2,969	  	  	$	61,287	  	  	$	2,987	  	 	$	2,650	  	 	$	76,728	  	
Deferred acquisition costs and intangible assets	  	 	35	  	 	 	130	  	 	 	55	  	  	 	4,023	  	  	 	276	  	 	 	7	  	 	 	4,526	  	
Reinsurance recoverable	  	 	6	  	 	 	—  	  	 	 	—  	  	  	 	16,754	  	  	 	827	  	 	 	—  	  	 	 	17,587	  	
Other assets	  	 	43	  	 	 	45	  	 	 	29	  	  	 	346	  	  	 	15	  	 	 	99	  	 	 	577	  	
Separate account assets	  	 	—  	  	 	 	—  	  	 	 	—  	  	  	 	—  	  	  	 	7,624	  	 	 	—  	  	 	 	7,624	  	
Assets held for sale	  	 	—  	  	 	 	—  	  	 	 	—  	  	  	 	—  	  	  	 	—  	  	 	 	131	  	 	 	131	  	
	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total assets	  	$	2,367	  	 	$	4,727	  	 	$	3,053	  	  	$	82,410	  	  	$	11,729	  	 	$	2,887	  	 	$	107,173	  	
	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
LIABILITIES AND EQUITY	  				 				 				  				  				 				 				
Liabilities:	  				 				 				  				  				 				 				
Future policy benefits	  	$	—  	  	 	$	—  	  	 	$	—  	  	  	$	36,773	  	  	$	3	  	 	$	—  	  	 	$	36,776	  	
Policyholder account balances	  	 	—  	  	 	 	—  	  	 	 	—  	  	  	 	22,915	  	  	 	3,439	  	 	 	—  	  	 	 	26,354	  	
Liability for policy and contract claims	  	 	768	  	 	 	102	  	 	 	181	  	  	 	7,097	  	  	 	21	  	 	 	8	  	 	 	8,177	  	
Unearned premiums	  	 	274	  	 	 	1,527	  	 	 	976	  	  	 	595	  	  	 	6	  	 	 	—  	  	 	 	3,378	  	
Non-recourse funding obligations	  	 	—  	  	 	 	—  	  	 	 	—  	  	  	 	310	  	  	 	—  	  	 	 	—  	  	 	 	310	  	
Deferred tax and other liabilities	  	 	(489	) 	 	 	84	  	 	 	147	  	  	 	3,440	  	  	 	(49	) 	 	 	912	  	 	 	4,045	  	
Borrowings and capital securities	  	 	—  	  	 	 	333	  	 	 	188	  	  	 	—  	  	  	 	10	  	 	 	3,874	  	 	 	4,405	  	
Separate account liabilities	  	 	—  	  	 	 	—  	  	 	 	—  	  	  	 	—  	  	  	 	7,624	  	 	 	—  	  	 	 	7,624	  	
Liabilities held for sale	  	 	—  	  	 	 	—  	  	 	 	—  	  	  	 	—  	  	  	 	—  	  	 	 	131	  	 	 	131	  	
	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities	  	 	553	  	 	 	2,046	  	 	 	1,492	  	  	 	71,130	  	  	 	11,054	  	 	 	4,925	  	 	 	91,200	  	
	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Equity:	  				 				 				  				  				 				 				
Allocated equity, excluding accumulated other comprehensive income (loss)	  	 	1,794	  	 	 	1,668	  	 	 	641	  	  	 	7,022	  	  	 	682	  	 	 	(1,937	) 	 	 	9,870	  	
Allocated accumulated other comprehensive income (loss)	  	 	20	  	 	 	(117	) 	 	 	132	  	  	 	4,258	  	  	 	(7	) 	 	 	(101	) 	 	 	4,185	  	
	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	1,814	  	 	 	1,551	  	 	 	773	  	  	 	11,280	  	  	 	675	  	 	 	(2,038	) 	 	 	14,055	  	
Noncontrolling interests	  	 	—  	  	 	 	1,130	  	 	 	788	  	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	1,918	  	
	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total equity	  	 	1,814	  	 	 	2,681	  	 	 	1,561	  	  	 	11,280	  	  	 	675	  	 	 	(2,038	) 	 	 	15,973	  	
	  	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	2,367	  	 	$	4,727	  	 	$	3,053	  	  	$	82,410	  	  	$	11,729	  	 	$	2,887	  	 	$	107,173	  	

(1)  	Includes inter-segment eliminations and other businesses that are managed outside the operating segments.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Consolidated Balance Sheet by Segment
(amounts in millions)

 	  	December 31, 2015	 	
 	  	U.S.
Mortgage
Insurance	 	  	Canada
Mortgage
Insurance	 	 	Australia
Mortgage
Insurance	 	  	U.S. Life
Insurance	 	 	Runoff	 	 	Corporate and
Other (1) 	 	 	Total	 	
ASSETS	  				  				 				  				 				 				 				
Cash and investments	  	$	2,227	  	  	$	4,295	  	 	$	2,886	  	  	$	60,788	  	 	$	2,862	  	 	$	2,688	  	 	$	75,746	  	
Deferred acquisition costs and intangible assets	  	 	32	  	  	 	123	  	 	 	56	  	  	 	4,251	  	 	 	285	  	 	 	8	  	 	 	4,755	  	
Reinsurance recoverable	  	 	6	  	  	 	—  	  	 	 	—  	  	  	 	16,415	  	 	 	824	  	 	 	—  	  	 	 	17,245	  	
Deferred tax and other assets	  	 	634	  	  	 	102	  	 	 	45	  	  	 	(1,924	) 	 	 	261	  	 	 	1,557	  	 	 	675	  	
Separate account assets	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	7,883	  	 	 	—  	  	 	 	7,883	  	
Assets held for sale	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	127	  	 	 	127	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total assets	  	$	2,899	  	  	$	4,520	  	 	$	2,987	  	  	$	79,530	  	 	$	12,115	  	 	$	4,380	  	 	$	106,431	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LIABILITIES AND EQUITY	  				  				 				  				 				 				 				
Liabilities:	  				  				 				  				 				 				 				
Future policy benefits	  	$	—  	  	  	$	—  	  	 	$	—  	  	  	$	36,471	  	 	$	4	  	 	$	—  	  	 	$	36,475	  	
Policyholder account balances	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	23,009	  	 	 	3,200	  	 	 	—  	  	 	 	26,209	  	
Liability for policy and contract claims	  	 	849	  	  	 	87	  	 	 	165	  	  	 	6,969	  	 	 	18	  	 	 	7	  	 	 	8,095	  	
Unearned premiums	  	 	258	  	  	 	1,460	  	 	 	963	  	  	 	621	  	 	 	6	  	 	 	—  	  	 	 	3,308	  	
Non-recourse funding obligations	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	1,950	  	 	 	—  	  	 	 	(30	) 	 	 	1,920	  	
Deferred tax and other liabilities	  	 	89	  	  	 	170	  	 	 	152	  	  	 	659	  	 	 	290	  	 	 	1,668	  	 	 	3,028	  	
Borrowings and capital securities	  	 	—  	  	  	 	313	  	 	 	178	  	  	 	—  	  	 	 	10	  	 	 	4,248	  	 	 	4,749	  	
Separate account liabilities	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	7,883	  	 	 	—  	  	 	 	7,883	  	
Liabilities held for sale	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	127	  	 	 	127	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities	  	 	1,196	  	  	 	2,030	  	 	 	1,458	  	  	 	69,679	  	 	 	11,411	  	 	 	6,020	  	 	 	91,794	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Equity:	  				  				 				  				 				 				 				
Allocated equity, excluding accumulated other comprehensive income (loss)	  	 	1,701	  	  	 	1,637	  	 	 	662	  	  	 	6,646	  	 	 	725	  	 	 	(1,557	) 	 	 	9,814	  	
Allocated accumulated other comprehensive income (loss)	  	 	2	  	  	 	(194	) 	 	 	101	  	  	 	3,205	  	 	 	(21	) 	 	 	(83	) 	 	 	3,010	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity	  	 	1,703	  	  	 	1,443	  	 	 	763	  	  	 	9,851	  	 	 	704	  	 	 	(1,640	) 	 	 	12,824	  	
Noncontrolling interests	  	 	—  	  	  	 	1,047	  	 	 	766	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	1,813	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total equity	  	 	1,703	  	  	 	2,490	  	 	 	1,529	  	  	 	9,851	  	 	 	704	  	 	 	(1,640	) 	 	 	14,637	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	2,899	  	  	$	4,520	  	 	$	2,987	  	  	$	79,530	  	 	$	12,115	  	 	$	4,380	  	 	$	106,431	  	

(1)  	Includes inter-segment eliminations and other businesses that are managed outside the operating segments.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Deferred Acquisition Costs Rollforward
(amounts in millions)

 	  	U.S.
Mortgage
Insurance	 	 	Canada
Mortgage
Insurance	 	 	Australia
Mortgage
Insurance	 	 	U.S. Life
Insurance (1) 	 	 	Runoff (2) 	 	 	Corporate and
Other	 	  	Total	 	
Unamortized balance as of December 31, 2015	  	$	22	  	 	$	108	  	 	$	35	  	 	$	4,132	  	 	$	272	  	 	$	—  	  	  	$	4,569	  	
Costs deferred	  	 	3	  	 	 	8	  	 	 	2	  	 	 	37	  	 	 	—  	  	 	 	—  	  	  	 	50	  	
Amortization, net of interest accretion	  	 	(2	) 	 	 	(9	) 	 	 	(3	) 	 	 	(61	) 	 	 	(5	) 	 	 	—  	  	  	 	(80	) 	
Impact of foreign currency translation	  	 	—  	  	 	 	7	  	 	 	2	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	  	 	9	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Unamortized balance as of March 31, 2016	  	 	23	  	 	 	114	  	 	 	36	  	 	 	4,108	  	 	 	267	  	 	 	—  	  	  	 	4,548	  	
Effect of accumulated net unrealized investment (gains) losses	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	(308	) 	 	 	(5	) 	 	 	—  	  	  	 	(313	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Balance as of March 31, 2016	  	$	23	  	 	$	114	  	 	$	36	  	 	$	3,800	  	 	$	262	  	 	$	—  	  	  	$	4,235	  	

(1)  	Amortization, net of interest accretion, included $4 million of amortization related to net investment gains for the policyholder account balances.	
(2)  	Amortization, net of interest accretion, included $4 million of amortization related to net investment gains for the policyholder account balances.	
 
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U.S. Mortgage Insurance Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Net Operating Income and Sales—U.S. Mortgage Insurance Segment
(amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	160	  	  	$	153	  	 	$	146	  	 	$	153	  	 	$	150	  	 	$	602	  	
Net investment income	  	 	15	  	  	 	14	  	 	 	12	  	 	 	13	  	 	 	19	  	 	 	58	  	
Net investment gains (losses)	  	 	(1	) 	  	 	—  	  	 	 	1	  	 	 	—  	  	 	 	—  	  	 	 	1	  	
Policy fees and other income	  	 	1	  	  	 	1	  	 	 	2	  	 	 	—  	  	 	 	1	  	 	 	4	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	175	  	  	 	168	  	 	 	161	  	 	 	166	  	 	 	170	  	 	 	665	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves	  	 	38	  	  	 	59	  	 	 	63	  	 	 	50	  	 	 	50	  	 	 	222	  	
Acquisition and operating expenses, net of deferrals	  	 	39	  	  	 	42	  	 	 	38	  	 	 	38	  	 	 	37	  	 	 	155	  	
Amortization of deferred acquisition costs and intangibles	  	 	3	  	  	 	3	  	 	 	3	  	 	 	2	  	 	 	2	  	 	 	10	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	80	  	  	 	104	  	 	 	104	  	 	 	90	  	 	 	89	  	 	 	387	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	95	  	  	 	64	  	 	 	57	  	 	 	76	  	 	 	81	  	 	 	278	  	
Provision for income taxes	  	 	34	  	  	 	23	  	 	 	20	  	 	 	27	  	 	 	29	  	 	 	99	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS	  	 	61	  	  	 	41	  	 	 	37	  	 	 	49	  	 	 	52	  	 	 	179	  	
ADJUSTMENT TO INCOME FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				
Net investment (gains) losses, net	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME	  	$	61	  	  	$	41	  	 	$	37	  	 	$	49	  	 	$	52	  	 	$	179	  	

Effective tax rate (operating income) (1)	  	 	35.8	%  	  	 	35.5	%  	 	 	35.4	%  	 	 	35.6	%  	 	 	35.7	%  	 	 	35.6	%  	
							
SALES:	  				  				 				 				 				 				
New Insurance Written (NIW)	  				  				 				 				 				 				
Flow	  	$	7,400	  	  	$	7,800	  	 	$	9,300	  	 	$	8,200	  	 	$	6,300	  	 	$	31,600	  	
Bulk	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Mortgage Insurance NIW	  	$	7,400	  	  	$	7,800	  	 	$	9,300	  	 	$	8,200	  	 	$	6,300	  	 	$	31,600	  	

 

(1)  	The operating income (loss) effective tax rate for all pages in this financial supplement was calculated using whole dollars. As a result, the percentages shown may differ from an operating income (loss) effective tax rate calculated using the rounded numbers in this financial supplement.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Flow New Insurance Written Metrics—U.S. Mortgage Insurance Segment
(amounts in millions)

 	  	2016	 	 	2015	 	
 	  	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	
 	  	Flow
NIW	 	  	Premium
Rate (bps)	 	 	Flow
NIW	 	  	Premium
Rate (bps)	 	 	Flow
NIW	 	  	Premium
Rate (bps)	 	 	Flow
NIW	 	  	Premium
Rate (bps)	 	 	Flow
NIW	 	  	Premium
Rate (bps)	 	
Product	  				  			 	 				  				 				  				 				  				 				  				
Monthly (1)	  	$	5,400	  	  	 	59	 	 	$	5,900	  	  	 	60	  	 	$	7,000	  	  	 	60	  	 	$	6,500	  	  	 	60	  	 	$	4,400	  	  	 	60	  	
Single	  	 	2,000	  	  	 	164	 	 	 	1,900	  	  	 	168	  	 	 	2,300	  	  	 	171	  	 	 	1,700	  	  	 	172	  	 	 	1,900	  	  	 	160	  	
	  	 	 	 	  			 	 	 	 	 	  				 	 	 	 	  				 	 	 	 	  				 	 	 	 	  				
Total Flow	  	$	7,400	  	  			 	 	$	7,800	  	  				 	$	9,300	  	  				 	$	8,200	  	  				 	$	6,300	  	  				

 	  	Flow
NIW	 	  	% of
Flow NIW	 	 	Flow
NIW	 	  	% of
Flow NIW	 	 	Flow
NIW	 	  	% of
Flow NIW	 	 	Flow
NIW	 	  	% of
Flow NIW	 	 	Flow
NIW	 	  	% of
Flow NIW	 	
FICO Scores	  				  			 	 				  				 				  				 				  				 				  				
Over 735	  	$	4,400	  	  	 	60	% 	 	$	4,600	  	  	 	59	% 	 	$	5,500	  	  	 	59	% 	 	$	5,000	  	  	 	61	% 	 	$	3,700	  	  	 	59	% 	
680—735	  	 	2,400	  	  	 	32	 	 	 	2,500	  	  	 	32	  	 	 	3,000	  	  	 	32	  	 	 	2,500	  	  	 	30	  	 	 	2,100	  	  	 	33	  	
660—679 (2)	  	 	300	  	  	 	4	 	 	 	400	  	  	 	5	  	 	 	500	  	  	 	6	  	 	 	400	  	  	 	5	  	 	 	300	  	  	 	5	  	
620—659	  	 	300	  	  	 	4	 	 	 	300	  	  	 	4	  	 	 	300	  	  	 	3	  	 	 	300	  	  	 	4	  	 	 	200	  	  	 	3	  	
<620	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	  	$	7,400	  	  	 	100	% 	 	$	7,800	  	  	 	100	% 	 	$	9,300	  	  	 	100	% 	 	$	8,200	  	  	 	100	% 	 	$	6,300	  	  	 	100	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Loan-To-Value Ratio	  				  			 	 				  				 				  				 				  				 				  				
95.01% and above	  	$	400	  	  	 	5	% 	 	$	400	  	  	 	5	% 	 	$	500	  	  	 	5	% 	 	$	400	  	  	 	5	% 	 	$	300	  	  	 	5	% 	
90.01% to 95.00%	  	 	3,700	  	  	 	50	 	 	 	4,000	  	  	 	51	  	 	 	4,900	  	  	 	53	  	 	 	4,200	  	  	 	51	  	 	 	3,100	  	  	 	49	  	
85.01% to 90.00%	  	 	2,400	  	  	 	33	 	 	 	2,500	  	  	 	32	  	 	 	3,000	  	  	 	32	  	 	 	2,600	  	  	 	32	  	 	 	2,000	  	  	 	32	  	
85.00% and below	  	 	900	  	  	 	12	 	 	 	900	  	  	 	12	  	 	 	900	  	  	 	10	  	 	 	1,000	  	  	 	12	  	 	 	900	  	  	 	14	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	  	$	7,400	  	  	 	100	% 	 	$	7,800	  	  	 	100	% 	 	$	9,300	  	  	 	100	% 	 	$	8,200	  	  	 	100	% 	 	$	6,300	  	  	 	100	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Origination	  				  			 	 				  				 				  				 				  				 				  				
Purchase	  	$	6,000	  	  	 	81	% 	 	$	6,500	  	  	 	83	% 	 	$	8,100	  	  	 	87	% 	 	$	6,500	  	  	 	79	% 	 	$	4,300	  	  	 	68	% 	
Refinance	  	 	1,400	  	  	 	19	 	 	 	1,300	  	  	 	17	  	 	 	1,200	  	  	 	13	  	 	 	1,700	  	  	 	21	  	 	 	2,000	  	  	 	32	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow	  	$	7,400	  	  	 	100	% 	 	$	7,800	  	  	 	100	% 	 	$	9,300	  	  	 	100	% 	 	$	8,200	  	  	 	100	% 	 	$	6,300	  	  	 	100	% 	

 

(1)  	Includes loans with annual and split payment types.	
(2)  	Loans with unknown FICO scores are included in the 660-679 category.	
 
17

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Other Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net Premiums Written	  	$	176	  	  	$	171	  	 	$	171	  	 	$	170	  	 	$	170	  	 	$	682	  	
	 						
New Risk Written	  			 	  				 				 				 				 				
Flow	  	$	1,845	  	  	$	1,964	  	 	$	2,364	  	 	$	2,040	  	 	$	1,557	  	 	$	7,925	  	
Bulk	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Primary	  	 	1,845	  	  	 	1,964	  	 	 	2,364	  	 	 	2,040	  	 	 	1,557	  	 	 	7,925	  	
Pool	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total New Risk Written	  	$	1,845	  	  	$	1,964	  	 	$	2,364	  	 	$	2,040	  	 	$	1,557	  	 	$	7,925	  	

Primary Insurance In-Force	  	$	124,100	  	  	$	122,400	  	 	$	120,400	  	 	$	117,100	  	 	$	115,200	  	 				
	 						
Risk In-Force	  			 	  				 				 				 				 				
Flow	  	$	31,136	  	  	$	30,616	  	 	$	30,001	  	 	$	29,026	  	 	$	28,415	  	 				
Bulk (1)	  	 	318	  	  	 	326	  	 	 	349	  	 	 	360	  	 	 	387	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Primary	  	 	31,454	  	  	 	30,942	  	 	 	30,350	  	 	 	29,386	  	 	 	28,802	  	 				
Pool	  	 	116	  	  	 	120	  	 	 	129	  	 	 	137	  	 	 	142	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Risk In-Force	  	$	31,570	  	  	$	31,062	  	 	$	30,479	  	 	$	29,523	  	 	$	28,944	  	 				

Primary Risk In-Force That Is GSE Conforming	  	 	96	% 	  	 	96	% 	 	 	97	% 	 	 	97	% 	 	 	97	% 	 				
	 						
Expense Ratio (Net Earned Premiums) (2)	  	 	26	% 	  	 	29	% 	 	 	28	% 	 	 	26	% 	 	 	26	% 	 	 	27	% 	
	 						
Expense Ratio (Net Premiums Written) (3)	  	 	24	% 	  	 	26	% 	 	 	24	% 	 	 	23	% 	 	 	23	% 	 	 	24	% 	
	 						
Flow Persistency	  	 	82	% 	  	 	81	% 	 	 	80	% 	 	 	79	% 	 	 	81	% 	 				
	 						
Risk To Capital Ratio (4)	  	 	15.3:1	  	  	 	16.3:1	  	 	 	14.3:1	  	 	 	13.7:1	  	 	 	14.1:1	  	 				
	 						
Average Primary Loan Size (in thousands)	  	$	189	  	  	$	188	  	 	$	186	  	 	$	184	  	 	$	182	  	 				
The expense ratios included above were calculated using whole dollars and may be different than the ratios calculated using the rounded numbers included herein.

(1)  	As of March 31, 2016, 90% of the bulk risk in-force was related to loans financed by lenders who participated in the mortgage programs sponsored by the Federal Home Loan Banks.	
(2)  	The ratio of an insurer’s general expenses to net earned premiums. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.	
(3)  	The ratio of an insurer’s general expenses to net premiums written. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.	
(4)  	Certain states limit a private mortgage insurer’s risk in-force to 25 times the total of the insurer’s policyholders’ surplus plus the statutory contingency reserve, commonly known as the “risk to capital” requirement. The current period risk to capital ratio is an estimate due to the timing of the filing of statutory statements and is prepared consistent with the presentation of the statutory financial statements in the combined annual statement of the U.S. mortgage insurance business.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Loss Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Paid Claims	  			 	  				 				 				 				 				
Flow	  			 	  				 				 				 				 				
Direct (1)	  	$	112	  	  	$	158	  	 	$	98	  	 	$	131	  	 	$	130	  	 	$	517	  	
Assumed (2)	  	 	2	  	  	 	1	  	 	 	3	  	 	 	4	  	 	 	5	  	 	 	13	  	
Ceded	  	 	(3	) 	  	 	(1	) 	 	 	—  	  	 	 	(1	) 	 	 	(16	) 	 	 	(18	) 	
Loss adjustment expenses	  	 	3	  	  	 	3	  	 	 	3	  	 	 	3	  	 	 	4	  	 	 	13	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Flow	  	 	114	  	  	 	161	  	 	 	104	  	 	 	137	  	 	 	123	  	 	 	525	  	
Bulk	  	 	2	  	  	 	1	  	 	 	1	  	 	 	2	  	 	 	2	  	 	 	6	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Primary	  	 	116	  	  	 	162	  	 	 	105	  	 	 	139	  	 	 	125	  	 	 	531	  	
Pool	  	 	—  	  	  	 	1	  	 	 	—  	  	 	 	1	  	 	 	1	  	 	 	3	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	116	  	  	$	163	  	 	$	105	  	 	$	140	  	 	$	126	  	 	$	534	  	

Average Paid Claim (in thousands) (3)	  	$	51.9	  	  	$	63.6	  	 	$	54.0	  	 	$	50.8	  	 	$	46.5	  	 				
	 						
Average Reserve Per Delinquency (in thousands)	  			 	  				 				 				 				 				
Flow	  	$	28.3	  	  	$	27.2	  	 	$	29.4	  	 	$	30.6	  	 	$	31.0	  	 				
Bulk loans with established reserve	  	 	21.2	  	  	 	19.9	  	 	 	20.0	  	 	 	21.5	  	 	 	21.2	  	 				
	 						
Reserves:	  			 	  				 				 				 				 				
Flow direct case	  	$	698	  	  	$	775	  	 	$	870	  	 	$	909	  	 	$	992	  	 				
Bulk direct case	  	 	15	  	  	 	17	  	 	 	17	  	 	 	18	  	 	 	20	  	 				
Assumed (2)	  	 	7	  	  	 	8	  	 	 	9	  	 	 	12	  	 	 	15	  	 				
All other (4)	  	 	48	  	  	 	49	  	 	 	57	  	 	 	57	  	 	 	60	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Reserves	  	$	768	  	  	$	849	  	 	$	953	  	 	$	996	  	 	$	1,087	  	 				

Beginning Reserves	  	$	849	  	  	$	953	  	 	$	996	  	 	$	1,087	  	 	$	1,180	  	 	$	1,180	  	
Paid claims (1)	  	 	(119	) 	  	 	(164	) 	 	 	(105	) 	 	 	(141	) 	 	 	(142	) 	 	 	(552	) 	
Increase in reserves	  	 	38	  	  	 	60	  	 	 	62	  	 	 	50	  	 	 	49	  	 	 	221	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reserves	  	$	768	  	  	$	849	  	 	$	953	  	 	$	996	  	 	$	1,087	  	 	$	849	  	

Beginning Reinsurance Recoverable (5)	  	$	5	  	  	$	6	  	 	$	6	  	 	$	7	  	 	$	24	  	 	$	24	  	
Ceded paid claims	  	 	(3	) 	  	 	(1	) 	 	 	—  	  	 	 	(1	) 	 	 	(16	) 	 	 	(18	) 	
Decrease in recoverable	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	(1	) 	 	 	(1	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reinsurance Recoverable	  	$	2	  	  	$	5	  	 	$	6	  	 	$	6	  	 	$	7	  	 	$	5	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Loss Ratio (6)	  	 	24	% 	  	 	39	% 	 	 	43	% 	 	 	33	% 	 	 	33	% 	 	 	37	% 	
The loss ratio included above was calculated using whole dollars and may be different than the ratio calculated using the rounded numbers included herein.

(1)  	Direct paid claims and paid claims in the fourth quarter of 2015 include payment of a previously disclosed negotiated servicer settlement reached in 2014 and payment in relation to an agreement on non-performing loans.	
(2)  	Assumed is comprised of reinsurance arrangements with state governmental housing finance agencies.	
(3)  	Average paid claim in the fourth quarter of 2015 reflects the non-recurring payment to extinguish the risk on prior paid claims pursuant to a previously disclosed servicer settlement reached in 2014.	
(4)  	Other includes loss adjustment expenses, pool and incurred but not reported reserves.	
(5)  	Reinsurance recoverable excludes ceded unearned premium recoveries and amounts for which cash proceeds have not yet been received.	
(6)  	The ratio of incurred losses and loss adjustment expenses to net earned premiums.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
Delinquency Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Number of Primary Delinquencies	  			 	  				 				 				 				 				
Flow	  	 	26,491	  	  	 	30,416	  	 	 	31,678	  	 	 	31,876	  	 	 	34,220	  	 				
Bulk loans with an established reserve	  	 	776	  	  	 	889	  	 	 	917	  	 	 	908	  	 	 	984	  	 				
Bulk loans with no reserve (1)	  	 	335	  	  	 	358	  	 	 	394	  	 	 	415	  	 	 	461	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Number of Primary Delinquencies	  	 	27,602	  	  	 	31,663	  	 	 	32,989	  	 	 	33,199	  	 	 	35,665	  	 				

Beginning Number of Primary Delinquencies	  	 	31,663	  	  	 	32,989	  	 	 	33,199	  	 	 	35,665	  	 	 	39,786	  	 	 	39,786	  	
New delinquencies	  	 	8,761	  	  	 	10,043	  	 	 	10,192	  	 	 	9,061	  	 	 	9,554	  	 	 	38,850	  	
Delinquency cures	  	 	(10,602	) 	  	 	(8,835	) 	 	 	(8,484	) 	 	 	(8,800	) 	 	 	(10,988	) 	 	 	(37,107	) 	
Paid claims	  	 	(2,220	) 	  	 	(2,534	) 	 	 	(1,918	) 	 	 	(2,727	) 	 	 	(2,687	) 	 	 	(9,866	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Number of Primary Delinquencies	  	 	27,602	  	  	 	31,663	  	 	 	32,989	  	 	 	33,199	  	 	 	35,665	  	 	 	31,663	  	

Composition of Cures	  			 	  				 				 				 				 				
Reported delinquent and cured-intraquarter	  	 	2,503	  	  	 	1,740	  	 	 	1,805	  	 	 	1,658	  	 	 	2,271	  	 				
Number of missed payments delinquent prior to cure:	  			 	  				 				 				 				 				
3 payments or less	  	 	5,775	  	  	 	5,005	  	 	 	4,630	  	 	 	4,260	  	 	 	6,112	  	 				
4 - 11 payments	  	 	1,443	  	  	 	1,330	  	 	 	1,487	  	 	 	2,250	  	 	 	1,912	  	 				
12 payments or more	  	 	881	  	  	 	760	  	 	 	562	  	 	 	632	  	 	 	693	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total	  	 	10,602	  	  	 	8,835	  	 	 	8,484	  	 	 	8,800	  	 	 	10,988	  	 				

Primary Delinquencies by Missed Payment Status	  			 	  				 				 				 				 				
3 payments or less	  	 	8,395	  	  	 	10,487	  	 	 	10,226	  	 	 	9,432	  	 	 	9,271	  	 				
4 - 11 payments	  	 	7,254	  	  	 	7,577	  	 	 	7,376	  	 	 	7,824	  	 	 	9,086	  	 				
12 payments or more	  	 	11,953	  	  	 	13,599	  	 	 	15,387	  	 	 	15,943	  	 	 	17,308	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Primary Delinquencies	  	 	27,602	  	  	 	31,663	  	 	 	32,989	  	 	 	33,199	  	 	 	35,665	  	 				

				
 	  	March 31, 2016	 	 	 	 	 	 	 	
Flow Delinquencies and Percentage
Reserved by Payment Status	  	Delinquencies	 	  	Direct Case
Reserves (2) 	 	 	Risk In-Force	 	 	Reserves as % of
Risk In-Force	 	 	 	 	 	 	 	
3 payments or less in default	  	 	8,082	  	  	$	45	  	 	$	337	  	 	 	13	% 	 				 				
4 - 11 payments in default	  	 	7,065	  	  	 	176	  	 	 	294	  	 	 	60	% 	 				 				
12 payments or more in default	  	 	11,344	  	  	 	477	  	 	 	559	  	 	 	85	% 	 				 				
	  	 	 	 	  	 	 	 	 	 	 	 	 				 				 				
Total	  	 	26,491	  	  	$	698	  	 	$	1,190	  	 	 	59	% 	 				 				

 	  	December 31, 2015	 	 	 	 	 	 	 	
Flow Delinquencies and Percentage
Reserved by Payment Status	  	Delinquencies	 	  	Direct Case
Reserves (2) 	 	 	Risk In-Force	 	 	Reserves as % of
Risk In-Force	 	 	 	 	 	 	 	
3 payments or less in default	  	 	10,103	  	  	$	52	  	 	$	405	  	 	 	13	% 	 				 				
4 - 11 payments in default	  	 	7,366	  	  	 	180	  	 	 	307	  	 	 	59	% 	 				 				
12 payments or more in default	  	 	12,947	  	  	 	543	  	 	 	638	  	 	 	85	% 	 				 				
	  	 	 	 	  	 	 	 	 	 	 	 	 				 				 				
Total	  	 	30,416	  	  	$	775	  	 	$	1,350	  	 	 	57	% 	 				 				

(1)  	Reserves were not established on loans where the company was in a secondary loss position due to an existing deductible and the company believes currently have no risk for claim.	
(2)  	Direct flow case reserves exclude loss adjustment expenses, incurred but not reported and reinsurance reserves.	
 
20

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
Portfolio Quality Metrics—U.S. Mortgage Insurance Segment

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	
Primary Loans	  			 	  				 				 				 				
Primary loans in-force	  	 	655,300	  	  	 	651,668	  	 	 	647,126	  	 	 	636,640	  	 	 	631,591	  	
Primary delinquent loans	  	 	27,602	  	  	 	31,663	  	 	 	32,989	  	 	 	33,199	  	 	 	35,665	  	
Primary delinquency rate	  	 	4.21	% 	  	 	4.86	% 	 	 	5.10	% 	 	 	5.21	% 	 	 	5.65	% 	
	 					
Flow loans in-force	  	 	632,010	  	  	 	627,349	  	 	 	620,430	  	 	 	608,615	  	 	 	601,472	  	
Flow delinquent loans	  	 	26,491	  	  	 	30,416	  	 	 	31,678	  	 	 	31,876	  	 	 	34,220	  	
Flow delinquency rate	  	 	4.19	% 	  	 	4.85	% 	 	 	5.11	% 	 	 	5.24	% 	 	 	5.69	% 	
	 					
Bulk loans in-force	  	 	23,290	  	  	 	24,319	  	 	 	26,696	  	 	 	28,025	  	 	 	30,119	  	
Bulk delinquent loans	  	 	1,111	  	  	 	1,247	  	 	 	1,311	  	 	 	1,323	  	 	 	1,445	  	
Bulk delinquency rate	  	 	4.77	% 	  	 	5.13	% 	 	 	4.91	% 	 	 	4.72	% 	 	 	4.80	% 	
	 					
A minus and sub-prime loans in-force	  	 	26,995	  	  	 	28,332	  	 	 	29,745	  	 	 	31,051	  	 	 	33,805	  	
A minus and sub-prime delinquent loans	  	 	5,546	  	  	 	6,448	  	 	 	6,642	  	 	 	6,530	  	 	 	7,019	  	
A minus and sub-prime delinquency rate	  	 	20.54	% 	  	 	22.76	% 	 	 	22.33	% 	 	 	21.03	% 	 	 	20.76	% 	
	 					
Pool Loans	  			 	  				 				 				 				
Pool loans in-force	  	 	6,406	  	  	 	6,620	  	 	 	7,284	  	 	 	7,709	  	 	 	7,979	  	
Pool delinquent loans	  	 	369	  	  	 	386	  	 	 	426	  	 	 	447	  	 	 	468	  	
Pool delinquency rate	  	 	5.76	% 	  	 	5.83	% 	 	 	5.85	% 	 	 	5.80	% 	 	 	5.87	% 	
	 					
Primary Risk In-Force by Credit Quality	  			 	  				 				 				 				
Over 735	  	 	53	% 	  	 	53	% 	 	 	52	% 	 	 	52	% 	 	 	52	% 	
680-735	  	 	31	% 	  	 	31	% 	 	 	31	% 	 	 	31	% 	 	 	31	% 	
660-679 (1)	  	 	7	% 	  	 	7	% 	 	 	7	% 	 	 	7	% 	 	 	7	% 	
620-659	  	 	7	% 	  	 	7	% 	 	 	7	% 	 	 	7	% 	 	 	7	% 	
< 620	  	 	2	% 	  	 	2	% 	 	 	3	% 	 	 	3	% 	 	 	3	% 	

(1)  	Loans with unknown FICO scores are included in the 660-679 category.	
 
21

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Portfolio Quality Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	March 31, 2016	 	
Policy Year	  	Average
Rate (1) 	 	 	% of Total
Reserves (2) 	 	 	Primary
Insurance In-Force	 	  	% of Total	 	 	Primary
Risk In-Force	 	  	% of Total	 	 	Deliquency
Rate	 	
2004 and prior	  	 	6.04	% 	 	 	11.9	% 	 	$	3,714	  	  	 	3.0	% 	 	$	833	  	  	 	2.6	% 	 	 	13.68	% 	
2005	  	 	5.65	% 	 	 	11.7	  	 	 	3,310	  	  	 	2.7	  	 	 	898	  	  	 	2.9	  	 	 	13.03	% 	
2006	  	 	5.84	% 	 	 	17.2	  	 	 	5,498	  	  	 	4.4	  	 	 	1,431	  	  	 	4.6	  	 	 	12.48	% 	
2007	  	 	5.74	% 	 	 	37.1	  	 	 	14,236	  	  	 	11.5	  	 	 	3,588	  	  	 	11.4	  	 	 	11.25	% 	
2008	  	 	5.28	% 	 	 	16.8	  	 	 	12,181	  	  	 	9.8	  	 	 	3,089	  	  	 	9.8	  	 	 	6.22	% 	
2009	  	 	4.95	% 	 	 	0.6	  	 	 	1,679	  	  	 	1.4	  	 	 	393	  	  	 	1.2	  	 	 	1.95	% 	
2010	  	 	4.69	% 	 	 	0.7	  	 	 	2,121	  	  	 	1.7	  	 	 	534	  	  	 	1.7	  	 	 	1.76	% 	
2011	  	 	4.53	% 	 	 	0.6	  	 	 	3,020	  	  	 	2.4	  	 	 	781	  	  	 	2.5	  	 	 	1.41	% 	
2012	  	 	3.83	% 	 	 	0.6	  	 	 	7,749	  	  	 	6.2	  	 	 	2,032	  	  	 	6.5	  	 	 	0.62	% 	
2013	  	 	4.01	% 	 	 	1.0	  	 	 	13,719	  	  	 	11.1	  	 	 	3,548	  	  	 	11.3	  	 	 	0.57	% 	
2014	  	 	4.40	% 	 	 	1.4	  	 	 	19,256	  	  	 	15.5	  	 	 	4,886	  	  	 	15.5	  	 	 	0.58	% 	
2015	  	 	4.10	% 	 	 	0.4	  	 	 	30,277	  	  	 	24.4	  	 	 	7,603	  	  	 	24.2	  	 	 	0.17	% 	
2016	  	 	4.12	% 	 	 	—  	  	 	 	7,336	  	  	 	5.9	  	 	 	1,838	  	  	 	5.8	  	 	 	0.02	% 	
	  				 	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 				
Total	  	 	4.73	% 	 	 	100.0	% 	 	$	124,096	  	  	 	100.0	% 	 	$	31,454	  	  	 	100.0	% 	 	 	4.21	% 	

 	  	March 31, 2016	 	 	December 31, 2015	 	 	March 31, 2015	 	 	 	 	
 	  	Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	Primary
Risk In-Force	 	  	Primary
Delinquency Rate	 	 	Primary
Risk In-Force	 	  	Primary
Delinquency Rate	 	 	 	 	
Lender concentration (by original applicant)	  	$	31,454	  	 	 	4.21	% 	 	$	30,942	  	  	 	4.86	% 	 	$	28,802	  	  	 	5.65	% 	 				
Top 10 lenders	  	 	11,282	  	 	 	5.60	% 	 	 	11,536	  	  	 	6.47	% 	 	 	12,123	  	  	 	6.98	% 	 				
Top 20 lenders	  	 	14,165	  	 	 	5.01	% 	 	 	14,201	  	  	 	5.68	% 	 	 	14,177	  	  	 	6.54	% 	 				
								
Loan-to-value ratio	  				 				 				  				 				  				 				
95.01% and above	  	$	6,207	  	 	 	7.14	% 	 	$	6,309	  	  	 	8.17	% 	 	$	6,654	  	  	 	8.16	% 	 				
90.01% to 95.00%	  	 	14,941	  	 	 	2.90	% 	 	 	14,425	  	  	 	3.36	% 	 	 	12,398	  	  	 	4.34	% 	 				
80.01% to 90.00%	  	 	10,004	  	 	 	3.99	% 	 	 	9,900	  	  	 	4.57	% 	 	 	9,402	  	  	 	5.51	% 	 				
80.00% and below	  	 	302	  	 	 	3.17	% 	 	 	308	  	  	 	3.39	% 	 	 	348	  	  	 	3.37	% 	 				
	  	 	 	 	 				 	 	 	 	  				 	 	 	 	  				 				
Total	  	$	31,454	  	 	 	4.21	% 	 	$	30,942	  	  	 	4.86	% 	 	$	28,802	  	  	 	5.65	% 	 				
	  	 	 	 	 				 	 	 	 	  				 	 	 	 	  				 				
Loan grade	  				 				 				  				 				  				 				
Prime	  	$	30,436	  	 	 	3.51	% 	 	$	29,874	  	  	 	4.05	% 	 	$	27,593	  	  	 	4.81	% 	 				
A minus and sub-prime	  	 	1,018	  	 	 	20.54	% 	 	 	1,068	  	  	 	22.76	% 	 	 	1,209	  	  	 	21.18	% 	 				
	  	 	 	 	 				 	 	 	 	  				 	 	 	 	  				 				
Total	  	$	31,454	  	 	 	4.21	% 	 	$	30,942	  	  	 	4.86	% 	 	$	28,802	  	  	 	5.65	% 	 				

(1)  	Average Annual Mortgage Interest Rate.	
(2)  	Total reserves were $768 million as of March 31, 2016.	
 
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Canada Mortgage Insurance Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Net Operating Income and Sales—Canada Mortgage Insurance Segment
(amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	111	  	  	$	115	  	 	$	116	  	 	$	116	  	 	$	119	  	 	$	466	  	
Net investment income	  	 	29	  	  	 	31	  	 	 	32	  	 	 	33	  	 	 	34	  	 	 	130	  	
Net investment gains (losses)	  	 	20	  	  	 	(11	) 	 	 	(23	) 	 	 	20	  	 	 	(18	) 	 	 	(32	) 	
Policy fees and other income	  	 	—  	  	  	 	—  	  	 	 	(1	) 	 	 	—  	  	 	 	1	  	 	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	160	  	  	 	135	  	 	 	124	  	 	 	169	  	 	 	136	  	 	 	564	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves	  	 	26	  	  	 	26	  	 	 	24	  	 	 	21	  	 	 	25	  	 	 	96	  	
Acquisition and operating expenses, net of deferrals	  	 	18	  	  	 	16	  	 	 	16	  	 	 	22	  	 	 	12	  	 	 	66	  	
Amortization of deferred acquisition costs and intangibles	  	 	9	  	  	 	9	  	 	 	9	  	 	 	9	  	 	 	9	  	 	 	36	  	
Interest expense	  	 	4	  	  	 	4	  	 	 	5	  	 	 	4	  	 	 	5	  	 	 	18	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	57	  	  	 	55	  	 	 	54	  	 	 	56	  	 	 	51	  	 	 	216	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	103	  	  	 	80	  	 	 	70	  	 	 	113	  	 	 	85	  	 	 	348	  	
Provision for income taxes	  	 	29	  	  	 	20	  	 	 	17	  	 	 	31	  	 	 	22	  	 	 	90	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS	  	 	74	  	  	 	60	  	 	 	53	  	 	 	82	  	 	 	63	  	 	 	258	  	
Less: net income attributable to noncontrolling interests	  	 	34	  	  	 	27	  	 	 	24	  	 	 	38	  	 	 	29	  	 	 	118	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	  	 	40	  	  	 	33	  	 	 	29	  	 	 	44	  	 	 	34	  	 	 	140	  	
	 						
ADJUSTMENT TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	  			 	  				 				 				 				 				
Net investment (gains) losses, net	  	 	(7	) 	  	 	4	  	 	 	9	  	 	 	(7	) 	 	 	6	  	 	 	12	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (1)	  	$	33	  	  	$	37	  	 	$	38	  	 	$	37	  	 	$	40	  	 	$	152	  	

Effective tax rate (operating income)	  	 	18.6	%  	  	 	27.1	%  	 	 	27.2	%  	 	 	27.3	%  	 	 	27.9	%  	 	 	27.4	%  	
							
SALES:	  				  				 				 				 				 				
New Insurance Written (NIW)	  				  				 				 				 				 				
Flow	  	$	2,500	  	  	$	4,700	  	 	$	6,600	  	 	$	5,400	  	 	$	3,300	  	 	$	20,000	  	
Bulk	  	 	3,200	  	  	 	7,300	  	 	 	4,800	  	 	 	3,300	  	 	 	5,000	  	 	 	20,400	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Canada NIW (2)	  	$	5,700	  	  	$	12,000	  	 	$	11,400	  	 	$	8,700	  	 	$	8,300	  	 	$	40,400	  	

 

(1)  	Net operating income for the Canadian platform adjusted for foreign exchange as compared to the prior year period was $39 million for the three months ended March 31, 2016.	
(2)  	New insurance written for the Canadian platform adjusted for foreign exchange as compared to the prior year period was $6,600 million for the three months ended March 31, 2016.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Selected Key Performance Measures—Canada Mortgage Insurance Segment
(amounts in millions)

 	  	2016	 	  	2015	 	  	 	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	  	 	 	
Net Premiums Written	  	$	84	  	  	$	162	  	 	$	204	  	 	$	166	  	 	$	109	  	 	$	641   	  	  				
Loss Ratio (1)	  	 	24	% 	  	 	23	% 	 	 	21	% 	 	 	17	% 	 	 	22	% 	 	 	21%	  	  				
Expense Ratio (Net Earned Premiums) (2)	  	 	24	% 	  	 	22	% 	 	 	22	% 	 	 	27	% 	 	 	18	% 	 	 	22%	  	  				
Expense Ratio (Net Premiums Written) (3)	  	 	32	% 	  	 	15	% 	 	 	12	% 	 	 	19	% 	 	 	20	% 	 	 	16%	  	  				
	 							
Primary Insurance In-Force (4)	  	$	317,400	  	  	$	292,600	  	 	$	292,000	  	 	$	300,900	  	 	$	288,800	  	 				  				
Primary Risk In-Force (5)	  			 	  				 				 				 				 				  				
Flow	  	$	79,900	  	  	$	74,300	  	 	$	75,500	  	 	$	78,500	  	 	$	75,700	  	 				  				
Bulk	  	 	31,200	  	  	 	28,100	  	 	 	26,700	  	 	 	26,800	  	 	 	25,400	  	 				  				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				  				
Total	  	$	111,100	  	  	$	102,400	  	 	$	102,200	  	 	$	105,300	  	 	$	101,100	  	 				  				

				
Risk In-Force by Loan-To-Value Ratio  (6) 	  	March 31, 2016	 	 	 	 	 	December 31, 2015	 	
 	  	Primary	 	  	Flow	 	 	Bulk	 	 	 	 	 	Primary	 	 	Flow	 	  	Bulk	 	
95.01% and above	  	$	38,398	  	  	$	38,398	  	 	$	—  	  	 				 	$	35,570	  	 	$	35,570	  	  	$	—  	  	
90.01% to 95.00%	  	 	24,011	  	  	 	24,011	  	 	 	—  	  	 				 	 	22,338	  	 	 	22,338	  	  	 	—  	  	
80.01% to 90.00%	  	 	14,602	  	  	 	14,599	  	 	 	3	  	 				 	 	13,630	  	 	 	13,627	  	  	 	3	  	
80.00% and below	  	 	34,078	  	  	 	2,928	  	 	 	31,150	  	 				 	 	30,873	  	 	 	2,729	  	  	 	28,144	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	  	 	 	 	
Total	  	$	111,089	  	  	$	79,936	  	 	$	31,153	  	 				 	$	102,411	  	 	$	74,264	  	  	$	28,147	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	  	 	 	 	
The loss and expense ratios included above were calculated using whole dollars and may be different than the ratios calculated using the rounded numbers included herein.
Amounts may not total due to rounding.

(1)  	The ratio of incurred losses and loss adjustment expenses to net earned premiums.	
(2)  	The ratio of an insurer’s general expenses to net earned premiums. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.	
(3)  	The ratio of an insurer’s general expenses to net premiums written. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.	
(4)  	As part of an ongoing effort to improve the estimate of outstanding insurance exposure, the company is receiving updated outstanding balances in Canada from most of its customers on a quarter lag. As a result, the company estimates that the outstanding balance of insured mortgages was approximately $139 billion, $138 billion, $142 billion and $137 billion as of December 31, 2015, September 30, 2015, June 30, 2015, and March 31, 2015. This is based on the extrapolation of the amounts reported by lenders to the entire insured population.	
(5)  	The business currently provides 100% coverage on the majority of the loans the company insures. For the purpose of representing the risk in-force, Canada has computed an “effective risk in-force” amount which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in-force has been calculated by applying to insurance in-force a factor that represents the highest expected average per-claim payment for any one underwriting year over the life of the business. This factor was 35% for all periods presented.	
(6)  	Loan amount in loan-to-value ratio calculation includes capitalized premiums, where applicable.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Selected Key Performance Measures—Canada Mortgage Insurance Segment
(dollar amounts in millions)

Primary Insurance	  	March 31, 2016	 	 	December 31, 2015	 	 	September 30, 2015	 	 	June 30, 2015	 	 	March 31, 2015	 	 	 	 	
Insured loans in-force (1),(2)	  	 	1,860,978	  	 	 	1,835,916	  	 	 	1,785,541	  	 	 	1,737,083	  	 	 	1,704,483	  	 				
Insured delinquent loans	  	 	2,034	  	 	 	1,829	  	 	 	1,715	  	 	 	1,666	  	 	 	1,792	  	 				
Insured delinquency rate (2),(3)	  	 	0.11	% 	 	 	0.10	% 	 	 	0.10	% 	 	 	0.10	% 	 	 	0.11	% 	 				
							
Flow loans in-force (1)	  	 	1,341,636	  	 	 	1,331,773	  	 	 	1,313,034	  	 	 	1,287,744	  	 	 	1,266,626	  	 				
Flow delinquent loans	  	 	1,711	  	 	 	1,550	  	 	 	1,449	  	 	 	1,435	  	 	 	1,532	  	 				
Flow delinquency rate (3)	  	 	0.13	% 	 	 	0.12	% 	 	 	0.11	% 	 	 	0.11	% 	 	 	0.12	% 	 				
							
Bulk loans in-force (1)	  	 	519,342	  	 	 	504,143	  	 	 	472,507	  	 	 	449,339	  	 	 	437,857	  	 				
Bulk delinquent loans	  	 	323	  	 	 	279	  	 	 	266	  	 	 	231	  	 	 	260	  	 				
Bulk delinquency rate (3)	  	 	0.06	% 	 	 	0.06	% 	 	 	0.06	% 	 	 	0.05	% 	 	 	0.06	% 	 				
							
Loss Metrics	  	March 31, 2016	 	 	December 31, 2015	 	 	September 30, 2015	 	 	June 30, 2015	 	 	March 31, 2015	 	 	 	 	
Beginning Reserves	  	$	87	  	 	$	83	  	 	$	85	  	 	$	85	  	 	$	91	  	 				
Paid claims (4)	  	 	(18	) 	 	 	(18	) 	 	 	(20	) 	 	 	(21	) 	 	 	(22	) 	 				
Increase in reserves	  	 	26	  	 	 	25	  	 	 	23	  	 	 	19	  	 	 	24	  	 				
Impact of changes in foreign exchange rates	  	 	7	  	 	 	(3	) 	 	 	(5	) 	 	 	2	  	 	 	(8	) 	 				
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Ending Reserves	  	$	102	  	 	$	87	  	 	$	83	  	 	$	85	  	 	$	85	  	 				

 	  	March 31, 2016	 	 	December 31, 2015	 	 	March 31, 2015	 	
Province and Territory	  	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	
Ontario	  	 	47	% 	 	 	0.05	% 	 	 	47	% 	 	 	0.05	% 	 	 	46	% 	 	 	0.05	% 	
Alberta	  	 	17	  	 	 	0.16	% 	 	 	17	  	 	 	0.12	% 	 	 	17	  	 	 	0.09	% 	
British Columbia	  	 	14	  	 	 	0.08	% 	 	 	14	  	 	 	0.08	% 	 	 	14	  	 	 	0.13	% 	
Quebec	  	 	13	  	 	 	0.20	% 	 	 	13	  	 	 	0.19	% 	 	 	14	  	 	 	0.19	% 	
Saskatchewan	  	 	3	  	 	 	0.21	% 	 	 	3	  	 	 	0.17	% 	 	 	3	  	 	 	0.15	% 	
Nova Scotia	  	 	2	  	 	 	0.20	% 	 	 	2	  	 	 	0.18	% 	 	 	2	  	 	 	0.23	% 	
Manitoba	  	 	2	  	 	 	0.10	% 	 	 	2	  	 	 	0.09	% 	 	 	2	  	 	 	0.07	% 	
New Brunswick	  	 	1	  	 	 	0.21	% 	 	 	1	  	 	 	0.20	% 	 	 	1	  	 	 	0.22	% 	
All Other	  	 	1	  	 	 	0.14	% 	 	 	1	  	 	 	0.13	% 	 	 	1	  	 	 	0.12	% 	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.11	% 	 	 	100	% 	 	 	0.10	% 	 	 	100	% 	 	 	0.11	% 	

By Policy Year	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2007 and prior	  	 	35	% 	 	 	0.05	% 	 	 	36	% 	 	 	0.04	% 	 	 	39	% 	 	 	0.05	% 	
2008	  	 	6	  	 	 	0.19	% 	 	 	6	  	 	 	0.19	% 	 	 	7	  	 	 	0.22	% 	
2009	  	 	4	  	 	 	0.18	% 	 	 	4	  	 	 	0.16	% 	 	 	5	  	 	 	0.19	% 	
2010	  	 	6	  	 	 	0.22	% 	 	 	7	  	 	 	0.21	% 	 	 	7	  	 	 	0.23	% 	
2011	  	 	6	  	 	 	0.29	% 	 	 	6	  	 	 	0.26	% 	 	 	7	  	 	 	0.26	% 	
2012	  	 	8	  	 	 	0.24	% 	 	 	7	  	 	 	0.22	% 	 	 	10	  	 	 	0.19	% 	
2013	  	 	9	  	 	 	0.19	% 	 	 	9	  	 	 	0.16	% 	 	 	10	  	 	 	0.11	% 	
2014	  	 	10	  	 	 	0.12	% 	 	 	10	  	 	 	0.09	% 	 	 	12	  	 	 	0.05	% 	
2015	  	 	14	  	 	 	0.02	% 	 	 	15	  	 	 	0.01	% 	 	 	3	  	 	 	—  	% 	
2016	  	 	2	  	 	 	—  	% 	 	 	—  	  	 	 	—  	% 	 	 	—  	  	 	 	—  	% 	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.11	% 	 	 	100	% 	 	 	0.10	% 	 	 	100	% 	 	 	0.11	% 	

(1)  	Insured loans in-force represent the original number of loans insured for which the coverage term has not expired, and for which no policy level cancellation or termination has been received.	
(2)  	As part of an ongoing effort to improve the estimate of outstanding insurance exposure, the company is receiving updated outstanding loans in-force in Canada from most of its customers on a quarter lag. As a result, the company estimates that the outstanding loans in-force were 870,000 as of December 31, 2015, 836,000 as of September 30, 2015, 828,000 as of June 30, 2015, and 809,100 as of March 31, 2015. This is based on the extrapolation of the amounts reported by lenders to the entire insured population. The corresponding insured delinquency rate was 0.21% as of December 31, 2015 and September 30, 2015, 0.20% as of June 30, 2015 and 0.22% as of March 31, 2015.	
(3)  	Delinquency rates are based on insured loans in-force.	
(4)  	Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Selected Key Performance Measures—Canada Mortgage Insurance Segment
(Canadian dollar amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Paid Claims (1)	  			 	  				 				 				 				 				
Flow	  	$	24	 	  	$	23	  	 	$	25	  	 	$	25	  	 	$	25	  	 	$	98	  	
Bulk	  	 	1	 	  	 	1	  	 	 	1	  	 	 	1	  	 	 	2	  	 	 	5	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	25	 	  	$	24	  	 	$	26	  	 	$	26	  	 	$	27	  	 	$	103	  	

Average Paid Claim (in thousands)	  	$	67.8	 	  	$	63.7	  	 	$	66.2	  	 	$	58.7	  	 	$	67.9	  	 				
	 						
Average Reserve Per Delinquency (in thousands)	  	$	65.0	 	  	$	65.7	  	 	$	64.2	  	 	$	63.6	  	 	$	60.4	  	 				
	 						
Loss Metrics	  			 	  				 				 				 				 				
	 						
Beginning Reserves	  	$	120	 	  	$	110	  	 	$	106	  	 	$	108	  	 	$	106	  	 				
Paid claims (1)	  	 	(25	)	  	 	(24	) 	 	 	(26	) 	 	 	(26	) 	 	 	(27	) 	 				
Increase in reserves	  	 	37	 	  	 	34	  	 	 	30	  	 	 	24	  	 	 	29	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Ending Reserves	  	$	132	 	  	$	120	  	 	$	110	  	 	$	106	  	 	$	108	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Loan Amount (2)	  			 	  				 				 				 				 				
	 						
Over $550K	  	 	7	% 	  	 	7	% 	 	 	7	% 	 	 	6	% 	 	 	6	% 	 				
$400K to $550K	  	 	13	 	  	 	13	  	 	 	12	  	 	 	12	  	 	 	12	  	 				
$250K to $400K	  	 	34	 	  	 	33	  	 	 	33	  	 	 	33	  	 	 	33	  	 				
$100K to $250K	  	 	42	 	  	 	43	  	 	 	44	  	 	 	44	  	 	 	44	  	 				
$100K or Less	  	 	4	 	  	 	4	  	 	 	4	  	 	 	5	  	 	 	5	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total	  	 	100	% 	  	 	100	% 	 	 	100	% 	 	 	100	% 	 	 	100	% 	 				

Average Primary Loan Size (in thousands)	  	$	222	 	  	$	221	  	 	$	218	  	 	$	216	  	 	$	215	  	 				
All amounts presented in Canadian dollars.

(1)  	Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.	
(2)  	The percentages in this table are based on the amount of primary insurance in-force in each loan band as a percentage of total insurance in-force.	
 
27

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Australia Mortgage Insurance Segment
 
28

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Net Operating Income and Sales—Australia Mortgage Insurance Segment
(amounts in millions)

 	 	2016	 	  	2015	 	
 	 	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	 			 	  				 				 				 				 				
Premiums	 	$	81	  	  	$	86	  	 	$	92	  	 	$	90	  	 	$	89	  	 	$	357	  	
Net investment income	 	 	24	  	  	 	25	  	 	 	28	  	 	 	29	  	 	 	32	  	 	 	114	  	
Net investment gains (losses)	 	 	—  	  	  	 	2	  	 	 	3	  	 	 	—  	  	 	 	1	  	 	 	6	  	
Policy fees and other income	 	 	—  	  	  	 	1	  	 	 	(1	) 	 	 	1	  	 	 	(4	) 	 	 	(3	) 	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	 	 	105	  	  	 	114	  	 	 	122	  	 	 	120	  	 	 	118	  	 	 	474	  	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	 			 	  				 				 				 				 				
Benefits and other changes in policy reserves	 	 	21	  	  	 	15	  	 	 	27	  	 	 	25	  	 	 	14	  	 	 	81	  	
Acquisition and operating expenses, net of deferrals	 	 	19	  	  	 	24	  	 	 	27	  	 	 	25	  	 	 	22	  	 	 	98	  	
Amortization of deferred acquisition costs and intangibles	 	 	3	  	  	 	4	  	 	 	4	  	 	 	5	  	 	 	5	  	 	 	18	  	
Interest expense	 	 	3	  	  	 	3	  	 	 	3	  	 	 	2	  	 	 	2	  	 	 	10	  	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	 	 	46	  	  	 	46	  	 	 	61	  	 	 	57	  	 	 	43	  	 	 	207	  	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	 	 	59	  	  	 	68	  	 	 	61	  	 	 	63	  	 	 	75	  	 	 	267	  	
Provision for income taxes	 	 	19	  	  	 	20	  	 	 	18	  	 	 	18	  	 	 	24	  	 	 	80	  	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS	 	 	40	  	  	 	48	  	 	 	43	  	 	 	45	  	 	 	51	  	 	 	187	  	
Less: net income attributable to noncontrolling interests	 	 	21	  	  	 	25	  	 	 	22	  	 	 	16	  	 	 	21	  	 	 	84	  	

INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	 	 	19	  	  	 	23	  	 	 	21	  	 	 	29	  	 	 	30	  	 	 	103	  	
	 						
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:	 			 	  				 				 				 				 				
Net investment (gains) losses, net	 	 	—  	  	  	 	(1	) 	 	 	(1	) 	 	 	—  	  	 	 	—  	  	 	 	(2	) 	
(Gains) losses on early extinguishment of debt, net	 	 	—  	  	  	 	—  	  	 	 	1	  	 	 	—  	  	 	 	—  	  	 	 	1	  	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (1)	 	$	19	  	  	$	22	  	 	$	21	  	 	$	29	  	 	$	30	  	 	$	102	  	

Effective tax rate (operating income)	 	 	30.3	% 	  	 	28.7	% 	 	 	28.0	% 	 	 	29.5	% 	 	 	30.5	% 	 	 	29.3	% 	
							
SALES:	 				  				 				 				 				 				
New Insurance Written (NIW)	 				  				 				 				 				 				
Flow	 	$	4,400	  	  	$	4,600	  	 	$	6,300	  	 	$	6,500	  	 	$	5,800	  	 	$	23,200	  	
Bulk	 	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	1,700	  	 	 	—  	  	 	 	1,700	  	
	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Australia NIW (2)	 	$	4,400	  	  	$	4,600	  	 	$	6,300	  	 	$	8,200	  	 	$	5,800	  	 	$	24,900	  	

 

(1)  	Net operating income for the Australian platform adjusted for foreign exchange as compared to the prior year period was $22 million for the three months ended March 31, 2016.	
(2)  	New insurance written for the Australian platform adjusted for foreign exchange as compared to the prior year period was $4,900 million for the three months ended March 31, 2016.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Selected Key Performance Measures—Australia Mortgage Insurance Segment
(amounts in millions)

 	  	2016	 	  	2015	 	  	 	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	  	 	 	
Net Premiums Written	  	$	47	  	  	$	55	  	 	$	79	  	 	$	107	  	 	$	87	  	 	$	328   	  	  				
Loss Ratio (1),(2)	  	 	26	% 	  	 	17	% 	 	 	29	% 	 	 	28	% 	 	 	15	% 	 	 	23%	  	  				
Expense Ratio (Net Earned Premiums) (3)	  	 	27	% 	  	 	31	% 	 	 	34	% 	 	 	33	% 	 	 	30	% 	 	 	32%	  	  				
Expense Ratio (Net Premiums Written) (4)	  	 	47	% 	  	 	49	% 	 	 	40	% 	 	 	28	% 	 	 	31	% 	 	 	35%	  	  				
	 							
Primary Insurance In-Force	  	$	246,800	  	  	$	233,600	  	 	$	224,100	  	 	$	243,800	  	 	$	240,900	  	 				  				
Primary Risk In-Force (5)	  			 	  				 				 				 				 				  				
Flow	  	$	80,300	  	  	$	76,000	  	 	$	72,900	  	 	$	79,100	  	 	$	78,600	  	 				  				
Bulk	  	 	5,700	  	  	 	5,500	  	 	 	5,500	  	 	 	6,200	  	 	 	5,700	  	 				  				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				  				
Total	  	$	86,000	  	  	$	81,500	  	 	$	78,400	  	 	$	85,300	  	 	$	84,300	  	 				  				

				
 	  	March 31, 2016	 	 	 	 	 	December 31, 2015	 	
Risk In-Force by Loan-To-Value Ratio (6) 	  	Primary	 	  	Flow	 	 	Bulk	 	 	 	 	 	Primary	 	 	Flow	 	  	Bulk	 	
95.01% and above	  	$	15,585	  	  	$	15,585	  	 	$	—  	  	 				 	$	15,055	  	 	$	15,055	  	  	$	—  	  	
90.01% to 95.00%	  	 	22,243	  	  	 	22,237	  	 	 	6	  	 				 	 	20,933	  	 	 	20,927	  	  	 	6	  	
80.01% to 90.00%	  	 	22,803	  	  	 	22,736	  	 	 	67	  	 				 	 	21,510	  	 	 	21,446	  	  	 	64	  	
80.00% and below	  	 	25,392	  	  	 	19,744	  	 	 	5,648	  	 				 	 	23,970	  	 	 	18,545	  	  	 	5,426	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	  	 	 	 	
Total	  	$	86,023	  	  	$	80,302	  	 	$	5,721	  	 				 	$	81,468	  	 	$	75,972	  	  	$	5,496	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 				 	 	 	 	 	 	 	 	  	 	 	 	
The loss and expense ratios included above were calculated using whole dollars and may be different than the ratios calculated using the rounded numbers included herein.
Amounts may not total due to rounding.

(1)  	The ratio of incurred losses and loss adjustment expenses to net earned premiums.	
(2)  	During the third quarter of 2015, the company increased reserves $9 million mainly related to the estimate of the period of time it takes for a delinquent loan to be reported and increased net earned premiums $8 million from refinements to premium recognition factors. These adjustments unfavorably impacted the loss ratio by seven percentage points for the three months ended September 30, 2015. During the first quarter of 2015, the company accrued a $7 million pre-tax receivable for expected recoveries relating to paid claims reflecting its experience of successful borrower recovery activity, which favorably impacted the loss ratio by nine percentage points for the three months ended March 31, 2015.	
(3)  	The ratio of an insurer’s general expenses to net earned premiums. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles. The debt early redemption payment of $2 million in the third quarter of 2015 unfavorably impacted this expense ratio by two percentage points for the three months ended September 30, 2015.	
(4)  	The ratio of an insurer’s general expenses to net premiums written. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles. The debt early redemption payment of $2 million in the third quarter of 2015 unfavorably impacted this expense ratio by two percentage points for the three months ended September 30, 2015.	
(5)  	The business currently provides 100% coverage on the majority of the loans the company insures. For the purpose of representing the risk in-force, Australia has computed an “effective risk in-force” amount which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in-force has been calculated by applying to insurance in-force a factor that represents the highest expected average per-claim payment for any one underwriting year over the life of the business. This factor was 35% for all periods presented. Australia also has certain risk share arrangements where it provides pro-rata coverage of certain loans rather than 100% coverage. As a result, for loans with these risk share arrangements, the applicable pro-rata coverage amount provided is used when applying the factor.	
(6)  	Loan amount in loan-to-value ratio calculation includes capitalized premiums, where applicable.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Selected Key Performance Measures—Australia Mortgage Insurance Segment
(dollar amounts in millions)

Primary Insurance	  	March 31, 2016	 	 	December 31, 2015	 	 	September 30, 2015	 	 	June 30, 2015	 	 	March 31, 2015	 	 	 	 	
Insured loans in-force	  	 	1,479,544	  	 	 	1,478,434	  	 	 	1,479,676	  	 	 	1,481,755	  	 	 	1,498,197	  	 				
Insured delinquent loans	  	 	5,889	  	 	 	5,552	  	 	 	5,804	  	 	 	5,900	  	 	 	5,378	  	 				
Insured delinquency rate	  	 	0.40	% 	 	 	0.38	% 	 	 	0.39	% 	 	 	0.40	% 	 	 	0.36	% 	 				
							
Flow loans in-force	  	 	1,366,914	  	 	 	1,364,628	  	 	 	1,364,537	  	 	 	1,364,653	  	 	 	1,382,156	  	 				
Flow delinquent loans	  	 	5,633	  	 	 	5,317	  	 	 	5,545	  	 	 	5,623	  	 	 	5,112	  	 				
Flow delinquency rate	  	 	0.41	% 	 	 	0.39	% 	 	 	0.41	% 	 	 	0.41	% 	 	 	0.37	% 	 				
							
Bulk loans in-force	  	 	112,630	  	 	 	113,806	  	 	 	115,139	  	 	 	117,102	  	 	 	116,041	  	 				
Bulk delinquent loans	  	 	256	  	 	 	235	  	 	 	259	  	 	 	277	  	 	 	266	  	 				
Bulk delinquency rate	  	 	0.23	% 	 	 	0.21	% 	 	 	0.22	% 	 	 	0.24	% 	 	 	0.23	% 	 				
							
Loss Metrics	  	March 31, 2016	 	 	December 31, 2015	 	 	September 30, 2015	 	 	June 30, 2015	 	 	March 31, 2015	 	 	 	 	
Beginning Reserves	  	$	165	  	 	$	156	  	 	$	160	  	 	$	149	  	 	$	152	  	 				
Paid claims (1)	  	 	(13	) 	 	 	(14	) 	 	 	(16	) 	 	 	(15	) 	 	 	(14	) 	 				
Increase in reserves	  	 	20	  	 	 	17	  	 	 	27	  	 	 	25	  	 	 	21	  	 				
Impact of changes in foreign exchange rates	  	 	9	  	 	 	6	  	 	 	(15	) 	 	 	1	  	 	 	(10	) 	 				
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Ending Reserves	  	$	181	  	 	$	165	  	 	$	156	  	 	$	160	  	 	$	149	  	 				

 	  	March 31, 2016	 	 	December 31, 2015	 	 	March 31, 2015	 	
State and Territory	  	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	 	% of Primary
Risk In-Force	 	 	Primary
Delinquency Rate	 	
New South Wales	  	 	29	% 	 	 	0.29	% 	 	 	29	% 	 	 	0.27	% 	 	 	29	% 	 	 	0.29%	  	
Queensland	  	 	23	  	 	 	0.55	% 	 	 	23	  	 	 	0.53	% 	 	 	23	  	 	 	0.50%	  	
Victoria	  	 	23	  	 	 	0.35	% 	 	 	23	  	 	 	0.33	% 	 	 	23	  	 	 	0.32%	  	
Western Australia	  	 	11	  	 	 	0.53	% 	 	 	11	  	 	 	0.46	% 	 	 	11	  	 	 	0.37%	  	
South Australia	  	 	6	  	 	 	0.52	% 	 	 	6	  	 	 	0.51	% 	 	 	6	  	 	 	0.48%	  	
Australian Capital Territory	  	 	3	  	 	 	0.18	% 	 	 	3	  	 	 	0.17	% 	 	 	3	  	 	 	0.13%	  	
Tasmania	  	 	2	  	 	 	0.38	% 	 	 	2	  	 	 	0.32	% 	 	 	2	  	 	 	0.28%	  	
New Zealand	  	 	2	  	 	 	0.13	% 	 	 	2	  	 	 	0.17	% 	 	 	2	  	 	 	0.27%	  	
Northern Territory	  	 	1	  	 	 	0.21	% 	 	 	1	  	 	 	0.17	% 	 	 	1	  	 	 	0.20%	  	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.40	% 	 	 	100	% 	 	 	0.38	% 	 	 	100	% 	 	 	0.36%	  	

By Policy Year	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2007 and prior	  	 	36	% 	 	 	0.29	% 	 	 	36	% 	 	 	0.29	% 	 	 	39	% 	 	 	0.29%	  	
2008	  	 	6	  	 	 	0.98	% 	 	 	6	  	 	 	0.89	% 	 	 	7	  	 	 	0.87%	  	
2009	  	 	7	  	 	 	0.73	% 	 	 	8	  	 	 	0.71	% 	 	 	9	  	 	 	0.70%	  	
2010	  	 	6	  	 	 	0.51	% 	 	 	6	  	 	 	0.46	% 	 	 	6	  	 	 	0.42%	  	
2011	  	 	6	  	 	 	0.52	% 	 	 	6	  	 	 	0.46	% 	 	 	7	  	 	 	0.42%	  	
2012	  	 	8	  	 	 	0.54	% 	 	 	8	  	 	 	0.49	% 	 	 	9	  	 	 	0.40%	  	
2013	  	 	9	  	 	 	0.47	% 	 	 	10	  	 	 	0.37	% 	 	 	10	  	 	 	0.26%	  	
2014	  	 	11	  	 	 	0.26	% 	 	 	11	  	 	 	0.19	% 	 	 	11	  	 	 	0.06%	  	
2015	  	 	9	  	 	 	0.06	% 	 	 	9	  	 	 	0.02	% 	 	 	2	  	 	 	—  %	  	
2016	  	 	2	  	 	 	—  	% 	 	 	—  	  	 	 	—  	% 	 	 	—  	  	 	 	—  %	  	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.40	% 	 	 	100	% 	 	 	0.38	% 	 	 	100	% 	 	 	0.36%	  	

(1)  	Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
Selected Key Performance Measures—Australia Mortgage Insurance Segment
(Australian dollar amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Paid Claims (1)	  			 	  				 				 				 				 				
Flow	  	$	18	 	  	$	22	  	 	$	21	  	 	$	19	  	 	$	17	  	 	$	79	  	
Bulk	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	1	  	 	 	1	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	18	 	  	$	22	  	 	$	21	  	 	$	19	  	 	$	18	  	 	$	80	  	

Average Paid Claim (in thousands)	  	$	65.8	 	  	$	71.0	  	 	$	65.9	  	 	$	66.9	  	 	$	62.5	  	 				
	 						
Average Reserve Per Delinquency (in thousands)	  	$	40.1	 	  	$	40.7	  	 	$	38.3	  	 	$	35.2	  	 	$	36.4	  	 				
	 						
Loss Metrics	  			 	  				 				 				 				 				
Beginning Reserves	  	$	226	 	  	$	222	  	 	$	208	  	 	$	196	  	 	$	186	  	 				
Paid claims (1)	  	 	(18	)	  	 	(22	) 	 	 	(21	) 	 	 	(19	) 	 	 	(18	) 	 				
Increase in reserves	  	 	28	 	  	 	26	  	 	 	35	  	 	 	31	  	 	 	28	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Ending Reserves	  	$	236	 	  	$	226	  	 	$	222	  	 	$	208	  	 	$	196	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Loan Amount (2)	  			 	  				 				 				 				 				
	 						
Over $550K	  	 	15	% 	  	 	15	% 	 	 	15	% 	 	 	14	% 	 	 	13	% 	 				
$400K to $550K	  	 	20	 	  	 	19	  	 	 	19	  	 	 	19	  	 	 	19	  	 				
$250K to $400K	  	 	36	 	  	 	36	  	 	 	36	  	 	 	36	  	 	 	37	  	 				
$100K to $250K	  	 	24	 	  	 	25	  	 	 	25	  	 	 	25	  	 	 	26	  	 				
$100K or Less	  	 	5	 	  	 	5	  	 	 	5	  	 	 	6	  	 	 	5	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total	  	 	100	% 	  	 	100	% 	 	 	100	% 	 	 	100	% 	 	 	100	% 	 				

Average Primary Loan Size (in thousands)	  	$	218	 	  	$	217	  	 	$	216	  	 	$	213	  	 	$	211	  	 				
All amounts presented in Australian dollars.

(1)  	Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.	
(2)  	The percentages in this table are based on the amount of primary insurance in-force in each loan band as a percentage of total insurance in-force.	
 
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U.S. Life Insurance Segment
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Net Operating Income (Loss)—U.S. Life Insurance Segment
(amounts in millions)

 	  	2016	 	 	2015	 	
 	  	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	 				 				 				 				 				
Premiums	  	$	436	  	 	$	797	  	 	$	784	  	 	$	769	  	 	$	778	  	 	$	3,128	  	
Net investment income	  	 	684	  	 	 	673	  	 	 	680	  	 	 	677	  	 	 	671	  	 	 	2,701	  	
Net investment gains (losses)	  	 	(16	) 	 	 	17	  	 	 	(16	) 	 	 	(7	) 	 	 	(4	) 	 	 	(10	) 	
Policy fees and other income	  	 	177	  	 	 	187	  	 	 	177	  	 	 	182	  	 	 	180	  	 	 	726	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	1,281	  	 	 	1,674	  	 	 	1,625	  	 	 	1,621	  	 	 	1,625	  	 	 	6,545	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	 				 				 				 				 				
Benefits and other changes in policy reserves	  	 	758	  	 	 	1,324	  	 	 	1,155	  	 	 	1,122	  	 	 	1,091	  	 	 	4,692	  	
Interest credited	  	 	144	  	 	 	148	  	 	 	148	  	 	 	150	  	 	 	150	  	 	 	596	  	
Acquisition and operating expenses, net of deferrals	  	 	165	  	 	 	178	  	 	 	176	  	 	 	167	  	 	 	163	  	 	 	684	  	
Amortization of deferred acquisition costs and intangibles	  	 	78	  	 	 	194	  	 	 	530	  	 	 	75	  	 	 	73	  	 	 	872	  	
Interest expense	  	 	28	  	 	 	23	  	 	 	22	  	 	 	22	  	 	 	25	  	 	 	92	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	1,173	  	 	 	1,867	  	 	 	2,031	  	 	 	1,536	  	 	 	1,502	  	 	 	6,936	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	108	  	 	 	(193	) 	 	 	(406	) 	 	 	85	  	 	 	123	  	 	 	(391	) 	
Provision (benefit) for income taxes	  	 	39	  	 	 	(68	) 	 	 	(144	) 	 	 	31	  	 	 	43	  	 	 	(138	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	69	  	 	 	(125	) 	 	 	(262	) 	 	 	54	  	 	 	80	  	 	 	(253	) 	
	 						
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	 				 				 				 				 				
Net investment (gains) losses, net	  	 	7	  	 	 	(12	) 	 	 	6	  	 	 	2	  	 	 	1	  	 	 	(3	) 	
(Gains) losses from life block transactions, net	  	 	6	  	 	 	—  	  	 	 	296	  	 	 	—  	  	 	 	—  	  	 	 	296	  	
Expenses related to restructuring, net	  	 	9	  	 	 	2	  	 	 	—  	  	 	 	1	  	 	 	—  	  	 	 	3	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)	  	$	91	  	 	$	(135	) 	 	$	40	  	 	$	57	  	 	$	81	  	 	$	43	  	

Effective tax rate (operating income (loss))	  	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Net Operating Income (Loss) and Sales—U.S. Life Insurance Segment—Long-Term Care Insurance
(amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	618	  	  	$	633	  	 	$	618	  	 	$	597	  	 	$	589	  	 	$	2,437	  	
Net investment income	  	 	329	  	  	 	325	  	 	 	327	  	 	 	320	  	 	 	313	  	 	 	1,285	  	
Net investment gains (losses)	  	 	4	  	  	 	24	  	 	 	4	  	 	 	(3	) 	 	 	3	  	 	 	28	  	
Policy fees and other income	  	 	1	  	  	 	1	  	 	 	—  	  	 	 	1	  	 	 	—  	  	 	 	2	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	952	  	  	 	983	  	 	 	949	  	 	 	915	  	 	 	905	  	 	 	3,752	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves	  	 	776	  	  	 	797	  	 	 	825	  	 	 	780	  	 	 	766	  	 	 	3,168	  	
Interest credited	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
Acquisition and operating expenses, net of deferrals	  	 	95	  	  	 	110	  	 	 	112	  	 	 	98	  	 	 	95	  	 	 	415	  	
Amortization of deferred acquisition costs and intangibles	  	 	26	  	  	 	25	  	 	 	24	  	 	 	24	  	 	 	26	  	 	 	99	  	
Interest expense	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	897	  	  	 	932	  	 	 	961	  	 	 	902	  	 	 	887	  	 	 	3,682	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	55	  	  	 	51	  	 	 	(12	) 	 	 	13	  	 	 	18	  	 	 	70	  	
Provision (benefit) for income taxes	  	 	20	  	  	 	19	  	 	 	(5	) 	 	 	5	  	 	 	6	  	 	 	25	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	35	  	  	 	32	  	 	 	(7	) 	 	 	8	  	 	 	12	  	 	 	45	  	
	 						
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				
Net investment (gains) losses, net	  	 	(3	) 	  	 	(15	) 	 	 	(3	) 	 	 	2	  	 	 	(2	) 	 	 	(18	) 	
Expenses related to restructuring, net	  	 	2	  	  	 	2	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	2	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)	  	$	34	  	  	$	19	  	 	$	(10	) 	 	$	10	  	 	$	10	  	 	$	29	  	

Effective tax rate (operating income (loss))	  	 	35.3	%  	  	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	
							
SALES:	  				  				 				 				 				 				
Individual Long-Term Care Insurance	  	$	5	  	  	$	8	  	 	$	7	  	 	$	8	  	 	$	10	  	 	$	33	  	
Group Long-Term Care Insurance	  	 	2	  	  	 	2	  	 	 	1	  	 	 	1	  	 	 	1	  	 	 	5	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Sales	  	$	7	  	  	$	10	  	 	$	8	  	 	$	9	  	 	$	11	  	 	$	38	  	

RATIOS:	  				  				 				 				 				 				
Loss Ratio (1)	  	 	67.6	% 	  	 	72.9	% 	 	 	76.4	% 	 	 	72.6	% 	 	 	72.4	% 	 	 	73.6	% 	
Gross Benefits Ratio (2)	  	 	125.5	% 	  	 	125.9	% 	 	 	133.5	% 	 	 	130.5	% 	 	 	130.2	% 	 	 	130.0	% 	

(1)  	The loss ratio was calculated by dividing benefits and other changes in policy reserves less tabular interest on reserves less loss adjustment expenses by net earned premiums.	
(2)  	The gross benefits ratio was calculated by dividing benefits and other changes in policy reserves by net earned premiums.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Net Operating Income (Loss) and Sales—U.S. Life Insurance Segment—Life Insurance
(amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums (1)	  	$	(185	) 	  	$	160	  	 	$	162	  	 	$	169	  	 	$	179	  	 	$	670	  	
Net investment income	  	 	133	  	  	 	125	  	 	 	126	  	 	 	127	  	 	 	127	  	 	 	505	  	
Net investment gains (losses)	  	 	2	  	  	 	15	  	 	 	(8	) 	 	 	3	  	 	 	3	  	 	 	13	  	
Policy fees and other income	  	 	173	  	  	 	183	  	 	 	175	  	 	 	178	  	 	 	178	  	 	 	714	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	123	  	  	 	483	  	 	 	455	  	 	 	477	  	 	 	487	  	 	 	1,902	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves (1)	  	 	(87	) 	  	 	446	  	 	 	248	  	 	 	266	  	 	 	250	  	 	 	1,210	  	
Interest credited	  	 	64	  	  	 	68	  	 	 	66	  	 	 	68	  	 	 	66	  	 	 	268	  	
Acquisition and operating expenses, net of deferrals	  	 	51	  	  	 	50	  	 	 	48	  	 	 	52	  	 	 	51	  	 	 	201	  	
Amortization of deferred acquisition costs and intangibles	  	 	33	  	  	 	150	  	 	 	487	  	 	 	33	  	 	 	30	  	 	 	700	  	
Interest expense	  	 	28	  	  	 	23	  	 	 	22	  	 	 	22	  	 	 	25	  	 	 	92	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	89	  	  	 	737	  	 	 	871	  	 	 	441	  	 	 	422	  	 	 	2,471	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	34	  	  	 	(254	) 	 	 	(416	) 	 	 	36	  	 	 	65	  	 	 	(569	) 	
Provision (benefit) for income taxes	  	 	12	  	  	 	(90	) 	 	 	(147	) 	 	 	13	  	 	 	23	  	 	 	(201	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	22	  	  	 	(164	) 	 	 	(269	) 	 	 	23	  	 	 	42	  	 	 	(368	) 	
	 						
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				
Net investment (gains) losses, net	  	 	(1	) 	  	 	(9	) 	 	 	4	  	 	 	(2	) 	 	 	(2	) 	 	 	(9	) 	
(Gains) losses from life block transactions, net	  	 	6	  	  	 	—  	  	 	 	296	  	 	 	—  	  	 	 	—  	  	 	 	296	  	
Expenses related to restructuring, net	  	 	4	  	  	 	—  	  	 	 	—  	  	 	 	1	  	 	 	—  	  	 	 	1	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)	  	$	31	  	  	$	(173	) 	 	$	31	  	 	$	22	  	 	$	40	  	 	$	(80	) 	

Effective tax rate (operating income (loss))	  	 	35.3	%  	  	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	 	 	35.3	%  	
							
SALES:	  				  				 				 				 				 				
Term Life	  	$	5	  	  	$	6	  	 	$	7	  	 	$	9	  	 	$	9	  	 	$	31	  	
Universal Life	  	 	2	  	  	 	3	  	 	 	2	  	 	 	4	  	 	 	4	  	 	 	13	  	
Linked-Benefits	  	 	2	  	  	 	1	  	 	 	3	  	 	 	2	  	 	 	4	  	 	 	10	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Sales	  	$	9	  	  	$	10	  	 	$	12	  	 	$	15	  	 	$	17	  	 	$	54	  	

 

(1)  	In January 2016, as part of a life block transaction, the company entered into a new reinsurance agreement to cede certain of its term life insurance policies. This new reinsurance agreement primarily reduced premiums by $326 million and reduced benefits and other changes in policy reserves by $331 million for the amounts initially ceded.	

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
Net Operating Income and Sales—U.S. Life Insurance Segment—Fixed Annuities
(amounts in millions)
																									
 	 	2016	 	 	2015	 	
 	 	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	 			 	 				 				 				 				 				
Premiums	 	$	3	  	 	$	4	  	 	$	4	  	 	$	3	  	 	$	10	  	 	$	21	  	
Net investment income	 	 	222	  	 	 	223	  	 	 	227	  	 	 	230	  	 	 	231	  	 	 	911	  	
Net investment gains (losses)	 	 	(22	) 	 	 	(22	) 	 	 	(12	) 	 	 	(7	) 	 	 	(10	) 	 	 	(51	) 	
Policy fees and other income	 	 	3	  	 	 	3	  	 	 	2	  	 	 	3	  	 	 	2	  	 	 	10	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	 	 	206	  	 	 	208	  	 	 	221	  	 	 	229	  	 	 	233	  	 	 	891	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	 			 	 				 				 				 				 				
Benefits and other changes in policy reserves	 	 	69	  	 	 	81	  	 	 	82	  	 	 	76	  	 	 	75	  	 	 	314	  	
Interest credited	 	 	80	  	 	 	80	  	 	 	82	  	 	 	82	  	 	 	84	  	 	 	328	  	
Acquisition and operating expenses, net of deferrals	 	 	19	  	 	 	18	  	 	 	16	  	 	 	17	  	 	 	17	  	 	 	68	  	
Amortization of deferred acquisition costs and intangibles	 	 	19	  	 	 	19	  	 	 	19	  	 	 	18	  	 	 	17	  	 	 	73	  	
Interest expense	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	 	 	187	  	 	 	198	  	 	 	199	  	 	 	193	  	 	 	193	  	 	 	783	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	 	 	19	  	 	 	10	  	 	 	22	  	 	 	36	  	 	 	40	  	 	 	108	  	
Provision for income taxes	 	 	7	  	 	 	3	  	 	 	8	  	 	 	13	  	 	 	14	  	 	 	38	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME FROM CONTINUING OPERATIONS	 	 	12	  	 	 	7	  	 	 	14	  	 	 	23	  	 	 	26	  	 	 	70	  	
	 						
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS:	 			 	 				 				 				 				 				
Net investment (gains) losses, net	 	 	11	  	 	 	12	  	 	 	5	  	 	 	2	  	 	 	5	  	 	 	24	  	
Expenses related to restructuring, net	 	 	3	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME	 	$	26	  	 	$	19	  	 	$	19	  	 	$	25	  	 	$	31	  	 	$	94	  	

Effective tax rate (operating income)	 	 	35.3	% 	 	 	35.3	% 	 	 	35.3	% 	 	 	35.3	% 	 	 	35.3	% 	 	 	35.3	% 	
							
SALES:	 				 				 				 				 				 				
Single Premium Deferred Annuities	 	$	159	  	 	$	297	  	 	$	248	  	 	$	211	  	 	$	306	  	 	$	1,062	  	
Single Premium Immediate Annuities	 	 	9	  	 	 	17	  	 	 	12	  	 	 	13	  	 	 	20	  	 	 	62	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Sales	 	$	168	  	 	$	314	  	 	$	260	  	 	$	224	  	 	$	326	  	 	$	1,124	  	

 
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Runoff Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Net Operating Income (Loss)—Runoff Segment
(amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	  —  	  	  	$	—  	  	 	$	—  	  	 	$	1	  	 	$	—  	  	 	$	1	  	
Net investment income	  	 	35	  	  	 	35	  	 	 	32	  	 	 	40	  	 	 	31	  	 	 	138	  	
Net investment gains (losses)	  	 	(8	) 	  	 	(30	) 	 	 	(25	) 	 	 	(8	) 	 	 	(6	) 	 	 	(69	) 	
Policy fees and other income	  	 	42	  	  	 	45	  	 	 	46	  	 	 	49	  	 	 	49	  	 	 	189	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	69	  	  	 	50	  	 	 	53	  	 	 	82	  	 	 	74	  	 	 	259	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves	  	 	15	  	  	 	8	  	 	 	18	  	 	 	11	  	 	 	7	  	 	 	44	  	
Interest credited	  	 	33	  	  	 	32	  	 	 	31	  	 	 	31	  	 	 	30	  	 	 	124	  	
Acquisition and operating expenses, net of deferrals	  	 	16	  	  	 	19	  	 	 	17	  	 	 	21	  	 	 	19	  	 	 	76	  	
Amortization of deferred acquisition costs and intangibles	  	 	6	  	  	 	(3	) 	 	 	17	  	 	 	10	  	 	 	5	  	 	 	29	  	
Interest expense	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	1	  	 	 	—  	  	 	 	1	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	70	  	  	 	56	  	 	 	83	  	 	 	74	  	 	 	61	  	 	 	274	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(1	) 	  	 	(6	) 	 	 	(30	) 	 	 	8	  	 	 	13	  	 	 	(15	) 	
Provision (benefit) for income taxes	  	 	(2	) 	  	 	(3	) 	 	 	(12	) 	 	 	2	  	 	 	3	  	 	 	(10	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) FROM CONTINUING OPERATIONS	  	 	1	  	  	 	(3	) 	 	 	(18	) 	 	 	6	  	 	 	10	  	 	 	(5	) 	
	 						
ADJUSTMENT TO INCOME (LOSS) FROM CONTINUING OPERATIONS:	  			 	  				 				 				 				 				
Net investment (gains) losses, net	  	 	3	  	  	 	14	  	 	 	14	  	 	 	3	  	 	 	1	  	 	 	32	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)	  	$	4	  	  	$	11	  	 	$	(4	) 	 	$	9	  	 	$	11	  	 	$	27	  	

Effective tax rate (operating income (loss))	  	 	3.1	% 	  	 	26.6	% 	 	 	49.2	% 	 	 	25.7	% 	 	 	26.7	% 	 	 	19.9	% 	
 
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Corporate and Other
 
40

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Net Operating Loss—Corporate and Other (1) 
(amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	6	  	  	$	6	  	 	$	7	  	 	$	5	  	 	$	7	  	 	$	25	  	
Net investment income	  	 	2	  	  	 	3	  	 	 	(1	) 	 	 	1	  	 	 	(6	) 	 	 	(3	) 	
Net investment gains (losses)	  	 	(14	) 	  	 	6	  	 	 	9	  	 	 	3	  	 	 	11	  	 	 	29	  	
Policy fees and other income	  	 	1	  	  	 	—  	  	 	 	—  	  	 	 	(10	) 	 	 	—  	  	 	 	(10	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	(5	) 	  	 	15	  	 	 	15	  	 	 	(1	) 	 	 	12	  	 	 	41	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves	  	 	2	  	  	 	3	  	 	 	3	  	 	 	3	  	 	 	5	  	 	 	14	  	
Acquisition and operating expenses, net of deferrals (2)	  	 	137	  	  	 	154	  	 	 	40	  	 	 	22	  	 	 	14	  	 	 	230	  	
Amortization of deferred acquisition costs and intangibles	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	1	  	 	 	1	  	
Interest expense	  	 	70	  	  	 	74	  	 	 	75	  	 	 	74	  	 	 	75	  	 	 	298	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	209	  	  	 	231	  	 	 	118	  	 	 	99	  	 	 	95	  	 	 	543	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	  	 	(214	) 	  	 	(216	) 	 	 	(103	) 	 	 	(100	) 	 	 	(83	) 	 	 	(502	) 	
Benefit for income taxes	  	 	(96	) 	  	 	(28	) 	 	 	(33	) 	 	 	(39	) 	 	 	(30	) 	 	 	(130	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LOSS FROM CONTINUING OPERATIONS	  	 	(118	) 	  	 	(188	) 	 	 	(70	) 	 	 	(61	) 	 	 	(53	) 	 	 	(372	) 	
Income (loss) from discontinued operations, net of taxes	  	 	(19	) 	  	 	(73	) 	 	 	(21	) 	 	 	(314	) 	 	 	1	  	 	 	(407	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET LOSS	  	 	(137	) 	  	 	(261	) 	 	 	(91	) 	 	 	(375	) 	 	 	(52	) 	 	 	(779	) 	
	 						
ADJUSTMENTS TO NET LOSS:	  			 	  				 				 				 				 				
Net investment (gains) losses, net	  	 	10	  	  	 	(5	) 	 	 	(6	) 	 	 	(2	) 	 	 	(7	) 	 	 	(20	) 	
(Gains) losses on sale of business, net	  	 	(20	) 	  	 	134	  	 	 	7	  	 	 	—  	  	 	 	—  	  	 	 	141	  	
(Gains) losses on early extinguishment of debt, net	  	 	11	  	  	 	—  	  	 	 	1	  	 	 	—  	  	 	 	—  	  	 	 	1	  	
Expenses related to restructuring, net	  	 	—  	  	  	 	1	  	 	 	—  	  	 	 	1	  	 	 	—  	  	 	 	2	  	
Fees associated with bond consent solicitation, net	  	 	12	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
(Income) loss from discontinued operations, net of taxes	  	 	19	  	  	 	73	  	 	 	21	  	 	 	314	  	 	 	(1	) 	 	 	407	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING LOSS (3)	  	$	(105	) 	  	$	(58	) 	 	$	(68	) 	 	$	(62	) 	 	$	(60	) 	 	$	(248	) 	

Effective tax rate (operating loss)	  	 	22.5	% 	  	 	27.4	% 	 	 	40.0	% 	 	 	40.2	% 	 	 	34.0	% 	 	 	36.0	% 	

(1)  	Includes inter-segment eliminations and the results of other businesses that are managed outside of the operating segments.	
(2)  	In the first quarter of 2016, acquisition and operating expenses, net of deferrals, included the following: $83 million of legal fees and expenses, including $69 million related to the settlement of the long-term care insurance class action lawsuit; $20 million of make-whole expense on the early redemption of Genworth Holdings’ 2016 senior notes in January 2016; $18 million associated with Genworth Holdings’ bond consent solicitation for broker, advisor and investment banking fees; and an additional estimated loss of $7 million related to the planned sale of the mortgage insurance business in Europe. In the fourth quarter of 2015, acquisition and operating expenses, net of deferrals, included an estimated loss of $140 million related to the planned sale of the mortgage insurance business in Europe.	
(3)  	Operating results of certain smaller international mortgage insurance businesses are included above. Metrics for these businesses were as follows:	

  	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net Operating Loss	  	$	(1	) 	  	$	(4	) 	 	$	(5	) 	 	$	(5	) 	 	$	(6	) 	 	$	(20	) 	
Loss Ratio (a)	  	 	27	% 	  	 	62	% 	 	 	48	% 	 	 	43	% 	 	 	81	% 	 	 	59	% 	
Expense Ratio (Earned Premiums) (b),(c)	  	 	107	% 	  	 	145	% 	 	 	143	% 	 	 	143	% 	 	 	125	% 	 	 	139	% 	

The loss and expense ratios included above were calculated using whole dollars and may be different than the ratios calculated using the rounded numbers included herein.

 
(a)      The ratio of incurred losses and loss adjustment expenses to net earned premiums.
(b)      The ratio of an insurer’s general expenses to net earned premiums. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.
(c)      Includes the impact of settlements and cancelled insurance contracts, primarily in Europe.	

        

 
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Additional Financial Data
 
42

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Investments Summary
(amounts in millions)

 	 	 	 	March 31, 2016	 	 	December 31, 2015	 	 	September 30, 2015	 	 	June 30, 2015	 	 	March 31, 2015	 	
 	 	 	 	Carrying
Amount	 	 	% of
Total	 	 	Carrying
Amount	 	 	% of
Total	 	 	Carrying
Amount	 	 	% of
Total	 	 	Carrying
Amount	 	 	% of
Total	 	 	Carrying
Amount	 	 	% of
Total	 	
Composition of Investment Portfolio	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Fixed maturity securities:	 				 			 	 				 				 				 				 				 				 				 				
Investment grade:	 				 			 	 				 				 				 				 				 				 				 				
Public fixed maturity securities	 	$	33,362	  	 	 	44	% 	 	$	31,969	  	 	 	43	% 	 	$	33,541	  	 	 	44	% 	 	$	33,407	  	 	 	45	% 	 	$	34,555	  	 	 	44	% 	
Private fixed maturity securities	 	 	10,867	  	 	 	14	 	 	 	10,822	  	 	 	15	  	 	 	10,908	  	 	 	15	 	 	 	10,777	  	 	 	14	 	 	 	10,879	  	 	 	14	  	
Residential mortgage-backed securities (1)	 	 	5,041	  	 	 	7	 	 	 	4,998	  	 	 	7	  	 	 	5,008	  	 	 	7	 	 	 	4,954	  	 	 	7	 	 	 	5,011	  	 	 	6	  	
Commercial mortgage-backed securities	 	 	2,633	  	 	 	4	 	 	 	2,475	  	 	 	3	  	 	 	2,492	  	 	 	3	 	 	 	2,475	  	 	 	3	 	 	 	2,548	  	 	 	3	  	
Other asset-backed securities	 	 	3,287	  	 	 	4	 	 	 	3,253	  	 	 	4	  	 	 	3,904	  	 	 	5	 	 	 	3,837	  	 	 	5	 	 	 	3,766	  	 	 	5	  	
State and political subdivisions	 	 	2,517	  	 	 	3	 	 	 	2,428	  	 	 	3	  	 	 	2,447	  	 	 	3	 	 	 	2,388	  	 	 	3	 	 	 	2,350	  	 	 	3	  	
Non-investment grade fixed maturity securities	 	 	2,583	  	 	 	3	 	 	 	2,252	  	 	 	3	  	 	 	2,346	  	 	 	3	 	 	 	2,530	  	 	 	3	 	 	 	2,623	  	 	 	4	  	
Equity securities:	 				 			 	 				 				 				 				 				 				 				 				
Common stocks and mutual funds	 	 	108	  	 	 	—  	  	 	 	37	  	 	 	—  	  	 	 	37	  	 	 	—  	  	 	 	62	  	 	 	—  	  	 	 	134	  	 	 	—  	  	
Preferred stocks	 	 	323	  	 	 	—  	  	 	 	273	  	 	 	—  	  	 	 	236	  	 	 	—  	  	 	 	237	  	 	 	1	 	 	 	165	  	 	 	—  	  	
Commercial mortgage loans	 	 	6,179	  	 	 	8	 	 	 	6,170	  	 	 	8	  	 	 	6,133	  	 	 	8	 	 	 	6,175	  	 	 	8	 	 	 	6,149	  	 	 	8	  	
Restricted commercial mortgage loans related to securitization entities	 	 	155	  	 	 	—  	  	 	 	161	  	 	 	—  	  	 	 	175	  	 	 	—  	  	 	 	181	  	 	 	—  	  	 	 	188	  	 	 	—  	  	
Policy loans	 	 	1,565	  	 	 	2	 	 	 	1,568	  	 	 	2	  	 	 	1,567	  	 	 	2	 	 	 	1,584	  	 	 	2	 	 	 	1,506	  	 	 	2	  	
Cash, cash equivalents and short-term investments	 	 	4,217	  	 	 	6	 	 	 	6,162	  	 	 	8	  	 	 	4,003	  	 	 	6	 	 	 	4,413	  	 	 	6	 	 	 	5,315	  	 	 	7	  	
Securities lending	 	 	415	  	 	 	1	 	 	 	347	  	 	 	—  	  	 	 	367	  	 	 	—  	  	 	 	337	  	 	 	—  	  	 	 	323	  	 	 	1	  	
Other invested assets:	 	Limited partnerships	 	 	177	  	 	 	—  	  	 	 	188	  	 	 	—  	  	 	 	195	  	 	 	—  	  	 	 	216	  	 	 	—  	  	 	 	215	  	 	 	—  	  	
	 	Derivatives:	 				 			 	 				 				 				 				 				 				 				 				
	 	Long-term care (LTC) forward starting swap—cash flow	 	 	1,087	  	 	 	1	 	 	 	629	  	 	 	1	  	 	 	768	  	 	 	1	  	 	 	423	  	 	 	1	  	 	 	948	  	 	 	1	  	
	 	Other cash flow	 	 	7	  	 	 	—  	  	 	 	8	  	 	 	—  	  	 	 	8	  	 	 	—  	  	 	 	8	  	 	 	—  	  	 	 	9	  	 	 	—  	  	
	 	Equity index options—non-qualified	 	 	36	  	 	 	—  	  	 	 	30	  	 	 	—  	  	 	 	15	  	 	 	—  	  	 	 	12	  	 	 	—  	  	 	 	15	  	 	 	—  	  	
	 	Other non-qualified	 	 	537	  	 	 	1	 	 	 	445	  	 	 	1	  	 	 	534	  	 	 	1	  	 	 	416	  	 	 	—  	  	 	 	512	  	 	 	1	  	
	 	Trading portfolio	 	 	471	  	 	 	1	 	 	 	447	  	 	 	1	  	 	 	458	  	 	 	1	 	 	 	368	  	 	 	1	 	 	 	218	  	 	 	—  	  	
	 	Restricted other invested assets related to securitization entities	 	 	422	  	 	 	1	 	 	 	413	  	 	 	1	  	 	 	412	  	 	 	1	 	 	 	410	  	 	 	1	 	 	 	411	  	 	 	1	  	
	 	Other	 	 	19	  	 	 	—  	  	 	 	18	  	 	 	—  	  	 	 	51	  	 	 	—  	  	 	 	52	  	 	 	—  	  	 	 	49	  	 	 	—  	  	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total invested assets and cash	 	$	76,008	  	 	 	100	% 	 	$	75,093	  	 	 	100	% 	 	$	75,605	  	 	 	100	% 	 	$	75,262	  	 	 	100	% 	 	$	77,889	  	 	 	100	% 	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Public Fixed Maturity Securities—Credit Quality:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NRSRO (2) Designation	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
AAA	 		 	$	15,385	  	 	 	34	% 	 	$	14,785	  	 	 	34	% 	 	$	15,057	  	 	 	33	% 	 	$	14,920	  	 	 	33	% 	 	$	15,520	  	 	 	33	% 	
AA	 		 	 	4,174	  	 	 	10	 	 	 	4,121	  	 	 	10	  	 	 	4,603	  	 	 	10	 	 	 	4,763	  	 	 	11	 	 	 	4,849	  	 	 	11	  	
A	 		 	 	12,664	  	 	 	28	 	 	 	12,155	  	 	 	28	  	 	 	13,485	  	 	 	30	 	 	 	13,376	  	 	 	30	 	 	 	13,781	  	 	 	30	  	
BBB	 		 	 	11,213	  	 	 	25	 	 	 	10,720	  	 	 	25	  	 	 	10,667	  	 	 	24	 	 	 	10,576	  	 	 	23	 	 	 	10,715	  	 	 	23	  	
BB	 		 	 	1,464	  	 	 	3	 	 	 	1,200	  	 	 	3	  	 	 	1,234	  	 	 	3	 	 	 	1,276	  	 	 	3	 	 	 	1,385	  	 	 	3	  	
B	 		 	 	141	  	 	 	—  	  	 	 	63	  	 	 	—  	  	 	 	50	  	 	 	—  	  	 	 	68	  	 	 	—  	  	 	 	76	  	 	 	—  	  	
CCC and lower	 		 	 	77	  	 	 	—  	  	 	 	92	  	 	 	—  	  	 	 	95	  	 	 	—  	  	 	 	99	  	 	 	—  	  	 	 	108	  	 	 	—  	  	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total public fixed maturity securities	 	$	45,118	  	 	 	100	% 	 	$	43,136	  	 	 	100	% 	 	$	45,191	  	 	 	100	% 	 	$	45,078	  	 	 	100	% 	 	$	46,434	  	 	 	100	% 	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Private Fixed Maturity Securities—Credit Quality:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NRSRO (2) Designation	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
AAA	 		 	$	1,614	  	 	 	10	% 	 	$	1,531	  	 	 	10	% 	 	$	1,725	  	 	 	11	% 	 	$	1,641	  	 	 	11	% 	 	$	1,509	  	 	 	10	% 	
AA	 		 	 	1,923	  	 	 	13	 	 	 	1,899	  	 	 	13	  	 	 	1,966	  	 	 	13	 	 	 	1,941	  	 	 	13	 	 	 	1,945	  	 	 	13	  	
A	 		 	 	4,725	  	 	 	31	 	 	 	4,731	  	 	 	31	  	 	 	4,737	  	 	 	31	 	 	 	4,781	  	 	 	31	 	 	 	4,792	  	 	 	31	  	
BBB	 		 	 	6,009	  	 	 	40	 	 	 	6,003	  	 	 	40	  	 	 	6,060	  	 	 	39	 	 	 	5,840	  	 	 	38	 	 	 	5,998	  	 	 	39	  	
BB	 		 	 	772	  	 	 	5	 	 	 	777	  	 	 	5	  	 	 	839	  	 	 	5	 	 	 	973	  	 	 	6	 	 	 	910	  	 	 	6	  	
B	 		 	 	104	  	 	 	1	 	 	 	104	  	 	 	1	  	 	 	114	  	 	 	1	 	 	 	101	  	 	 	1	 	 	 	126	  	 	 	1	  	
CCC and lower	 		 	 	25	  	 	 	—  	  	 	 	16	  	 	 	—  	  	 	 	14	  	 	 	—  	  	 	 	13	  	 	 	—  	  	 	 	18	  	 	 	—  	  	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total private fixed maturity securities	 	$	15,172	  	 	 	100	% 	 	$	15,061	  	 	 	100	% 	 	$	15,455	  	 	 	100	% 	 	$	15,290	  	 	 	100	% 	 	$	15,298	  	 	 	100	% 	

 

(1)  	The company does not have any material exposure to residential mortgage-backed securities collateralized debt obligations (CDOs).	
(2)  	Nationally Recognized Statistical Rating Organizations.	
 
43

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Fixed Maturity Securities Summary
(amounts in millions)

 	  	March 31, 2016	 	  	December 31, 2015	 	 	September 30, 2015	 	 	June 30, 2015	 	 	March 31, 2015	 	
 	  	Fair Value	 	  	% of
Total	 	  	Fair Value	 	  	% of
Total	 	 	Fair Value	 	  	% of
Total	 	 	Fair Value	 	  	% of
Total	 	 	Fair Value	 	  	% of
Total	 	
Fixed Maturity Securities—Security Sector:	  				  			 	  				  				 				  				 				  				 				  				
U.S. government, agencies and government-sponsored enterprises	  	$	6,524	  	  	 	11	% 	  	$	6,203	  	  	 	11	% 	 	$	5,913	  	  	 	10	% 	 	$	5,721	  	  	 	9	% 	 	$	6,132	  	  	 	10	%	
State and political subdivisions	  	 	2,517	  	  	 	4	 	  	 	2,438	  	  	 	4	  	 	 	2,448	  	  	 	4	  	 	 	2,389	  	  	 	4	  	 	 	2,351	  	  	 	4	 	
Foreign government	  	 	2,080	  	  	 	3	 	  	 	2,015	  	  	 	3	  	 	 	1,935	  	  	 	3	  	 	 	1,955	  	  	 	3	  	 	 	1,837	  	  	 	3	 	
U.S. corporate	  	 	25,389	  	  	 	43	 	  	 	24,401	  	  	 	42	  	 	 	25,679	  	  	 	43	  	 	 	25,135	  	  	 	42	  	 	 	25,806	  	  	 	42	 	
Foreign corporate	  	 	12,629	  	  	 	21	 	  	 	12,199	  	  	 	21	  	 	 	13,027	  	  	 	22	  	 	 	13,628	  	  	 	23	  	 	 	13,961	  	  	 	23	 	
Residential mortgage-backed securities	  	 	5,122	  	  	 	8	 	  	 	5,101	  	  	 	9	  	 	 	5,118	  	  	 	8	  	 	 	5,085	  	  	 	9	  	 	 	5,153	  	  	 	8	  	
Commercial mortgage-backed securities	  	 	2,713	  	  	 	4	 	  	 	2,559	  	  	 	4	  	 	 	2,587	  	  	 	4	  	 	 	2,582	  	  	 	4	  	 	 	2,690	  	  	 	4	  	
Other asset-backed securities	  	 	3,316	  	  	 	6	 	  	 	3,281	  	  	 	6	  	 	 	3,939	  	  	 	6	  	 	 	3,873	  	  	 	6	  	 	 	3,802	  	  	 	6	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total fixed maturity securities	  	$	60,290	  	  	 	100	% 	  	$	58,197	  	  	 	100	% 	 	$	60,646	  	  	 	100	% 	 	$	60,368	  	  	 	100	% 	 	$	61,732	  	  	 	100	%	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Corporate Bond Holdings—Industry Sector:	  				  			 	  				  				 				  				 				  				 				  				
Investment Grade:	  				  			 	  				  				 				  				 				  				 				  				
Finance and insurance	  	$	8,128	  	  	 	23	% 	  	$	7,746	  	  	 	22	% 	 	$	8,290	  	  	 	23	% 	 	$	8,047	  	  	 	22	% 	 	$	8,219	  	  	 	22	% 	
Utilities	  	 	5,275	  	  	 	15	 	  	 	4,453	  	  	 	13	  	 	 	4,618	  	  	 	12	  	 	 	4,568	  	  	 	12	  	 	 	4,788	  	  	 	13	  	
Energy	  	 	2,908	  	  	 	8	 	  	 	3,839	  	  	 	11	  	 	 	4,249	  	  	 	11	  	 	 	4,403	  	  	 	12	  	 	 	4,555	  	  	 	12	  	
Consumer—non-cyclical	  	 	4,894	  	  	 	14	 	  	 	4,619	  	  	 	13	  	 	 	4,647	  	  	 	13	  	 	 	4,504	  	  	 	12	  	 	 	4,614	  	  	 	12	  	
Consumer—cyclical	  	 	2,150	  	  	 	6	 	  	 	2,119	  	  	 	6	  	 	 	2,288	  	  	 	6	  	 	 	2,319	  	  	 	6	  	 	 	2,361	  	  	 	6	  	
Capital goods	  	 	2,444	  	  	 	7	 	  	 	2,361	  	  	 	7	  	 	 	2,461	  	  	 	7	  	 	 	2,434	  	  	 	7	  	 	 	2,417	  	  	 	7	  	
Industrial	  	 	1,980	  	  	 	5	 	  	 	1,915	  	  	 	6	  	 	 	2,130	  	  	 	6	  	 	 	2,224	  	  	 	6	  	 	 	2,309	  	  	 	6	  	
Technology and communications	  	 	3,019	  	  	 	8	 	  	 	2,872	  	  	 	8	  	 	 	3,095	  	  	 	8	  	 	 	3,107	  	  	 	9	  	 	 	3,091	  	  	 	8	  	
Transportation	  	 	1,750	  	  	 	5	 	  	 	1,689	  	  	 	5	  	 	 	1,695	  	  	 	5	  	 	 	1,629	  	  	 	5	  	 	 	1,687	  	  	 	4	  	
Other	  	 	3,162	  	  	 	9	 	  	 	3,049	  	  	 	9	  	 	 	3,213	  	  	 	9	  	 	 	3,356	  	  	 	9	  	 	 	3,508	  	  	 	10	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	35,710	  	  	 	100	% 	  	 	34,662	  	  	 	100	% 	 	 	36,686	  	  	 	100	% 	 	 	36,591	  	  	 	100	% 	 	 	37,549	  	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Non-Investment Grade:	  				  			 	  				  				 				  				 				  				 				  				
Finance and insurance	  	 	306	  	  	 	13	% 	  	 	359	  	  	 	19	% 	 	 	381	  	  	 	19	% 	 	 	443	  	  	 	20	% 	 	 	471	  	  	 	21	% 	
Utilities	  	 	78	  	  	 	4	 	  	 	83	  	  	 	4	  	 	 	67	  	  	 	3	  	 	 	68	  	  	 	3	  	 	 	67	  	  	 	3	  	
Energy	  	 	693	  	  	 	30	 	  	 	348	  	  	 	18	  	 	 	400	  	  	 	20	  	 	 	409	  	  	 	19	  	 	 	363	  	  	 	16	  	
Consumer—non-cyclical	  	 	226	  	  	 	10	 	  	 	229	  	  	 	12	  	 	 	230	  	  	 	11	  	 	 	257	  	  	 	12	  	 	 	262	  	  	 	12	  	
Consumer—cyclical	  	 	86	  	  	 	4	 	  	 	82	  	  	 	4	  	 	 	98	  	  	 	5	  	 	 	99	  	  	 	5	  	 	 	117	  	  	 	5	  	
Capital goods	  	 	216	  	  	 	9	 	  	 	193	  	  	 	10	  	 	 	204	  	  	 	10	  	 	 	234	  	  	 	11	  	 	 	236	  	  	 	11	  	
Industrial	  	 	279	  	  	 	12	 	  	 	244	  	  	 	13	  	 	 	254	  	  	 	13	  	 	 	240	  	  	 	11	  	 	 	238	  	  	 	11	  	
Technology and communications	  	 	320	  	  	 	14	 	  	 	309	  	  	 	16	  	 	 	293	  	  	 	14	  	 	 	336	  	  	 	15	  	 	 	365	  	  	 	16	  	
Transportation	  	 	2	  	  	 	—  	  	  	 	2	  	  	 	—  	  	 	 	2	  	  	 	—  	  	 	 	3	  	  	 	—  	  	 	 	19	  	  	 	1	  	
Other	  	 	102	  	  	 	4	 	  	 	89	  	  	 	4	  	 	 	91	  	  	 	5	  	 	 	83	  	  	 	4	  	 	 	80	  	  	 	4	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	2,308	  	  	 	100	% 	  	 	1,938	  	  	 	100	% 	 	 	2,020	  	  	 	100	% 	 	 	2,172	  	  	 	100	% 	 	 	2,218	  	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total	  	$	38,018	  	  	 	100	% 	  	$	36,600	  	  	 	100	% 	 	$	38,706	  	  	 	100	% 	 	$	38,763	  	  	 	100	% 	 	$	39,767	  	  	 	100	%	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Fixed Maturity Securities—Contractual Maturity Dates:	  				  			 	  				  				 				  				 				  				 				  				
	 	 									
Due in one year or less	  	$	1,879	  	  	 	3	% 	  	$	1,744	  	  	 	3	% 	 	$	2,075	  	  	 	4	% 	 	$	2,003	  	  	 	3	% 	 	$	1,830	  	  	 	3	%	
Due after one year through five years	  	 	10,730	  	  	 	18	 	  	 	10,192	  	  	 	18	  	 	 	10,817	  	  	 	18	  	 	 	10,935	  	  	 	19	  	 	 	10,838	  	  	 	18	 	
Due after five years through ten years	  	 	11,964	  	  	 	20	 	  	 	11,917	  	  	 	20	  	 	 	12,155	  	  	 	20	  	 	 	12,212	  	  	 	20	  	 	 	12,193	  	  	 	20	 	
Due after ten years	  	 	24,566	  	  	 	41	 	  	 	23,403	  	  	 	40	 	 	 	23,955	  	  	 	40	 	 	 	23,678	  	  	 	39	 	 	 	25,226	  	  	 	41	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	49,139	  	  	 	82	 	  	 	47,256	  	  	 	81	  	 	 	49,002	  	  	 	82	  	 	 	48,828	  	  	 	81	  	 	 	50,087	  	  	 	82	 	
Mortgage and asset-backed securities	  	 	11,151	  	  	 	18	 	  	 	10,941	  	  	 	19	  	 	 	11,644	  	  	 	18	  	 	 	11,540	  	  	 	19	  	 	 	11,645	  	  	 	18	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total fixed maturity securities	  	$	60,290	  	  	 	100	% 	  	$	58,197	  	  	 	100	% 	 	$	60,646	  	  	 	100	% 	 	$	60,368	  	  	 	100	% 	 	$	61,732	  	  	 	100	%	

 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 General Account GAAP Net Investment Income Yields
(amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
GAAP Net Investment Income	  			 	  				 				 				 				 				
Fixed maturity securities—taxable	  	$	641	  	  	$	634	  	 	$	647	  	 	$	645	  	 	$	632	  	 	$	2,558	  	
Fixed maturity securities—non-taxable	  	 	3	  	  	 	3	  	 	 	3	  	 	 	3	  	 	 	3	  	 	 	12	  	
Commercial mortgage loans	  	 	81	  	  	 	85	  	 	 	84	  	 	 	83	  	 	 	85	  	 	 	337	  	
Restricted commercial mortgage loans related to securitization entities	  	 	2	  	  	 	4	  	 	 	3	  	 	 	3	  	 	 	4	  	 	 	14	  	
Equity securities	  	 	5	  	  	 	4	  	 	 	3	  	 	 	4	  	 	 	4	  	 	 	15	  	
Other invested assets	  	 	32	  	  	 	30	  	 	 	22	  	 	 	17	  	 	 	33	  	 	 	102	  	
Limited partnerships	  	 	6	  	  	 	2	  	 	 	4	  	 	 	20	  	 	 	7	  	 	 	33	  	
Restricted other invested assets related to securitization entities	  	 	2	  	  	 	2	  	 	 	1	  	 	 	1	  	 	 	1	  	 	 	5	  	
Policy loans	  	 	35	  	  	 	36	  	 	 	33	  	 	 	35	  	 	 	33	  	 	 	137	  	
Cash, cash equivalents and short-term investments	  	 	5	  	  	 	3	  	 	 	3	  	 	 	4	  	 	 	3	  	 	 	13	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees	  	 	812	  	  	 	803	  	 	 	803	  	 	 	815	  	 	 	805	  	 	 	3,226	  	
Expenses and fees	  	 	(23	) 	  	 	(22	) 	 	 	(20	) 	 	 	(22	) 	 	 	(24	) 	 	 	(88	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income	  	$	789	  	  	$	781	  	 	$	783	  	 	$	793	  	 	$	781	  	 	$	3,138	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Annualized Yields	  			 	  				 				 				 				 				
Fixed maturity securities—taxable	  	 	4.7	% 	  	 	4.6	% 	 	 	4.6	% 	 	 	4.6	% 	 	 	4.6	% 	 	 	4.6	% 	
Fixed maturity securities—non-taxable	  	 	3.6	% 	  	 	3.5	% 	 	 	3.5	% 	 	 	3.5	% 	 	 	3.5	% 	 	 	3.5	% 	
Commercial mortgage loans	  	 	5.2	% 	  	 	5.5	% 	 	 	5.5	% 	 	 	5.4	% 	 	 	5.6	% 	 	 	5.5	% 	
Restricted commercial mortgage loans related to securitization entities	  	 	5.1	% 	  	 	9.5	% 	 	 	6.4	% 	 	 	7.2	% 	 	 	8.2	% 	 	 	8.0	% 	
Equity securities	  	 	5.1	% 	  	 	5.1	% 	 	 	4.0	% 	 	 	5.6	% 	 	 	6.1	% 	 	 	5.2	% 	
Other invested assets	  	 	29.4	% 	  	 	27.4	% 	 	 	22.2	% 	 	 	24.2	% 	 	 	60.6	% 	 	 	30.7	% 	
Limited partnerships (1)	  	 	13.2	% 	  	 	4.2	% 	 	 	7.8	% 	 	 	37.0	% 	 	 	12.0	% 	 	 	15.5	% 	
Restricted other invested assets related to securitization entities	  	 	2.0	% 	  	 	2.0	% 	 	 	1.0	% 	 	 	1.0	% 	 	 	1.0	% 	 	 	1.3	% 	
Policy loans	  	 	8.9	% 	  	 	9.2	% 	 	 	8.4	% 	 	 	9.1	% 	 	 	8.8	% 	 	 	8.9	% 	
Cash, cash equivalents and short-term investments	  	 	0.4	% 	  	 	0.2	% 	 	 	0.3	% 	 	 	0.3	% 	 	 	0.2	% 	 	 	0.3	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees	  	 	4.6	% 	  	 	4.6	% 	 	 	4.6	% 	 	 	4.6	% 	 	 	4.6	% 	 	 	4.6	% 	
Expenses and fees	  	 	-0.1	% 	  	 	-0.1	% 	 	 	-0.1	% 	 	 	-0.1	% 	 	 	-0.1	% 	 	 	-0.1	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income	  	 	4.5	% 	  	 	4.5	% 	 	 	4.5	% 	 	 	4.5	% 	 	 	4.5	% 	 	 	4.5	% 	

Yields are based on net investment income as reported under GAAP and are consistent with how the company measures its investment performance for management purposes. Yields are annualized, for interim periods, and are calculated as net investment income as a percentage of average quarterly asset carrying values except for fixed maturity and equity securities, derivatives and derivative counterparty collateral, which exclude unrealized fair value adjustments and securities lending activity, which is included in other invested assets and is calculated net of the corresponding securities lending liability. See page 49 herein for average invested assets and cash used in the yield calculation.

(1)  	Limited partnership investments are equity-based and do not have fixed returns by period.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Net Investment Gains (Losses), Net—Detail (1) 
(amounts in millions)

 	  	2016	 	  	2015	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net realized gains (losses) on available-for-sale securities:	  			 	  				 				 				 				 				
Fixed maturity securities:	  			 	  				 				 				 				 				
U.S. corporate	  	$	(4	) 	  	$	7	  	 	$	(2	) 	 	$	—  	  	 	$	—  	  	 	$	5	  	
U.S. government, agencies and government-sponsored enterprises	  	 	4	  	  	 	1	  	 	 	—  	  	 	 	—  	  	 	 	1	  	 	 	2	  	
Foreign corporate	  	 	(5	) 	  	 	(4	) 	 	 	(1	) 	 	 	(1	) 	 	 	(4	) 	 	 	(10	) 	
Foreign government	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	1	  	 	 	—  	  	 	 	1	  	
Mortgage-backed securities	  	 	—  	  	  	 	—  	  	 	 	(2	) 	 	 	1	  	 	 	—  	  	 	 	(1	) 	
Asset-backed securities	  	 	—  	  	  	 	(1	) 	 	 	(1	) 	 	 	—  	  	 	 	—  	  	 	 	(2	) 	
Equity securities	  	 	—  	  	  	 	—  	  	 	 	2	  	 	 	8	  	 	 	5	  	 	 	15	  	
Foreign exchange	  	 	—  	  	  	 	1	  	 	 	1	  	 	 	—  	  	 	 	1	  	 	 	3	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total net realized gains (losses) on available-for-sale securities	  	 	(5	) 	  	 	4	  	 	 	(3	) 	 	 	9	  	 	 	3	  	 	 	13	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Impairments:	  			 	  				 				 				 				 				
Corporate fixed maturity securities	  	 	(5	) 	  	 	(9	) 	 	 	(4	) 	 	 	—  	  	 	 	—  	  	 	 	(13	) 	
Limited partnerships	  	 	(2	) 	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
Commercial mortgage loans	  	 	—  	  	  	 	—  	  	 	 	(1	) 	 	 	—  	  	 	 	(2	) 	 	 	(3	) 	
Other asset-backed securities	  	 	—  	  	  	 	—  	  	 	 	(1	) 	 	 	—  	  	 	 	—  	  	 	 	(1	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total impairments	  	 	(7	) 	  	 	(9	) 	 	 	(6	) 	 	 	—  	  	 	 	(2	) 	 	 	(17	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net unrealized gains (losses) on trading securities	  	 	18	  	  	 	(6	) 	 	 	8	  	 	 	(11	) 	 	 	4	  	 	 	(5	) 	
Derivative instruments	  	 	(25	) 	  	 	2	  	 	 	(34	) 	 	 	4	  	 	 	(21	) 	 	 	(49	) 	
Commercial mortgage loans held-for-sale market valuation allowance	  	 	1	  	  	 	1	  	 	 	—  	  	 	 	2	  	 	 	1	  	 	 	4	  	
Contingent purchase price valuation change	  	 	—  	  	  	 	—  	  	 	 	2	  	 	 	—  	  	 	 	—  	  	 	 	2	  	
Net gains (losses) related to securitization entities	  	 	5	  	  	 	(2	) 	 	 	—  	  	 	 	1	  	 	 	5	  	 	 	4	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), net of taxes	  	 	(13	) 	  	 	(10	) 	 	 	(33	) 	 	 	5	  	 	 	(10	) 	 	 	(48	) 	
Adjustment for DAC and other intangible amortization and certain benefit reserves, net of taxes	  	 	6	  	  	 	8	  	 	 	6	  	 	 	5	  	 	 	4	  	 	 	23	  	
Adjustment for net investment (gains) losses attributable to noncontrolling interests, net of taxes	  	 	(6	) 	  	 	2	  	 	 	5	  	 	 	(6	) 	 	 	5	  	 	 	6	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), net	  	$	(13	) 	  	$	—  	  	 	$	(22	) 	 	$	4	  	 	$	(1	) 	 	$	(19	) 	

 

(1)  	All adjustments for income taxes assume a 35% tax rate.	
 
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Reconciliations of Non-GAAP Measures
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Reconciliation of Operating ROE
(amounts in millions)

Twelve Month Rolling Average ROE	  	Twelve months ended	 	
 	  	March 31,
2016	 	 	December 31,
2015	 	 	September 30,
2015	 	 	June 30,
2015	 	 	March 31,
2015	 	
GAAP Basis ROE 	  				 				 				 				 				
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the twelve months ended (1)	  	$	(716	) 	 	$	(615	) 	 	$	(1,083	) 	 	$	(1,643	) 	 	$	(1,274	) 	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss) (2)	  	$	10,160	  	 	$	10,281	  	 	$	10,564	  	 	$	10,958	  	 	$	11,288	  	
GAAP Basis ROE (1)/(2)	  	 	-7.0	% 	 	 	-6.0	% 	 	 	-10.3	% 	 	 	-15.0	% 	 	 	-11.3	% 	
						
Operating ROE 	  				 				 				 				 				
Net operating income (loss) for the twelve months ended (1)	  	$	204	  	 	$	255	  	 	$	(78	) 	 	$	(465	) 	 	$	(430	) 	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss) (2)	  	$	10,160	  	 	$	10,281	  	 	$	10,564	  	 	$	10,958	  	 	$	11,288	  	
Operating ROE (1)/(2)	  	 	2.0	% 	 	 	2.5	% 	 	 	-0.7	% 	 	 	-4.2	% 	 	 	-3.8	% 	
		
Quarterly Average ROE	  	Three months ended	 	
 	  	March 31,
2016	 	 	December 31,
2015	 	 	September 30,
2015	 	 	June 30,
2015	 	 	March 31,
2015	 	
GAAP Basis ROE	  				 				 				 				 				
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the period ended (3)	  	$	53	  	 	$	(292	) 	 	$	(284	) 	 	$	(193	) 	 	$	154	  	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss) (4)	  	$	9,842	  	 	$	9,958	  	 	$	10,241	  	 	$	10,507	  	 	$	10,555	  	
Annualized GAAP Quarterly Basis ROE (3)/(4)	  	 	2.2	% 	 	 	-11.7	% 	 	 	-11.1	% 	 	 	-7.3	% 	 	 	5.8	% 	
						
Operating ROE	  				 				 				 				 				
Net operating income (loss) for the period ended (3)	  	$	103	  	 	$	(82	) 	 	$	64	  	 	$	119	  	 	$	154	  	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss) (4)	  	$	9,842	  	 	$	9,958	  	 	$	10,241	  	 	$	10,507	  	 	$	10,555	  	
Annualized Operating Quarterly Basis ROE (3)/(4) 	  	 	4.2	% 	 	 	-3.3	% 	 	 	2.5	% 	 	 	4.5	% 	 	 	5.8	% 	
Non-GAAP Definition for Operating ROE 
The company references the non-GAAP financial measure entitled “operating return on equity” or “operating ROE.” The company defines operating ROE as net operating income (loss) divided by average ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss) in average ending Genworth Financial, Inc.’s stockholders’ equity. Management believes that analysis of operating ROE enhances understanding of the efficiency with which the company deploys its capital. However, operating ROE is not a substitute for net income (loss) available to Genworth Financial, Inc.’s common stockholders divided by average ending Genworth Financial, Inc.’s stockholders’ equity determined in accordance with GAAP.

(1)  	The twelve months ended information is derived by adding the four quarters of net income (loss) available to Genworth Financial, Inc.’s common stockholders and net operating income (loss) from page 9 herein.	
(2)  	Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss), is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss), for the most recent five quarters.	
(3)  	Net income (loss) available to Genworth Financial, Inc.’s common stockholders and net operating income (loss) from page 9 herein.	
(4)  	Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss), is derived by averaging ending Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss).	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 
 Reconciliation of Core Yield

 	 	 	  	2016	 	  	2015	 	
 	 	(Assets—amounts in billions)	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
	 	Reported—Total Invested Assets and Cash	  	$	76.0	  	  	$	75.1	  	 	$	75.6	  	 	$	75.3	  	 	$	77.9	  	 	$	75.1	  	
	 	Subtract:	  			 	  				 				 				 				 				
	 	Securities lending	  	 	0.4	  	  	 	0.3	  	 	 	0.4	  	 	 	0.3	  	 	 	0.3	  	 	 	0.3	  	
	 	Unrealized gains (losses)	  	 	6.3	  	  	 	4.2	  	 	 	5.4	  	 	 	4.9	  	 	 	7.8	  	 	 	4.2	  	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
	 	Adjusted end of period invested assets and cash	  	$	69.3	  	  	$	70.6	  	 	$	69.8	  	 	$	70.1	  	 	$	69.8	  	 	$	70.6	  	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(A)	 	Average Invested Assets and Cash Used in Reported Yield Calculation	  	$	70.0	  	  	$	70.2	  	 	$	70.0	  	 	$	70.0	  	 	$	69.7	  	 	$	70.0	  	
	 	Subtract:	  			 	  				 				 				 				 				
	 	Restricted commercial mortgage loans and other invested assets related to securitization entities (1)	  	 	0.2	  	  	 	0.2	  	 	 	0.2	  	 	 	0.2	  	 	 	0.2	  	 	 	0.2	  	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(B)	 	Average Invested Assets and Cash Used in Core Yield Calculation	  	 	69.8	  	  	 	70.0	  	 	 	69.8	  	 	 	69.8	  	 	 	69.5	  	 	 	69.8	  	
	 	Subtract:	  			 	  				 				 				 				 				
	 	Portfolios supporting floating products and non-recourse funding obligations (2)	  	 	2.5	  	  	 	3.5	  	 	 	3.5	  	 	 	3.6	  	 	 	3.7	  	 	 	3.6	  	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(C)	 	Average Invested Assets and Cash Used in Core Yield (excl. Floating and Non-Recourse Funding) Calculation	  	$	67.3	  	  	$	66.5	  	 	$	66.3	  	 	$	66.2	  	 	$	65.8	  	 	$	66.2	  	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
	 	(Income—amounts in millions)	  			 	  				 				 				 				 				
		 						
(D)	 	Reported—Net Investment Income	  	$	789	  	  	$	781	  	 	$	783	  	 	$	793	  	 	$	781	  	 	$	3,138	  	
	 	Subtract:	  			 	  				 				 				 				 				
	 	Bond calls and commercial mortgage loan prepayments	  	 	11	  	  	 	18	  	 	 	12	  	 	 	17	  	 	 	14	  	 	 	61	  	
	 	Other non-core items (3)	  	 	15	  	  	 	(2	) 	 	 	1	  	 	 	(4	) 	 	 	7	  	 	 	2	  	
	 	Restricted commercial mortgage loans and other invested assets related to securitization entities (1)	  	 	3	  	  	 	3	  	 	 	2	  	 	 	2	  	 	 	3	  	 	 	10	  	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(E)	 	Core Net Investment Income	  	 	760	  	  	 	762	  	 	 	768	  	 	 	778	  	 	 	757	  	 	 	3,065	  	
	 	Subtract:	  			 	  				 				 				 				 				
	 	Investment income from portfolios supporting floating products and non-recourse funding obligations (2)	  	 	15	  	  	 	16	  	 	 	21	  	 	 	26	  	 	 	20	  	 	 	83	  	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(F)	 	Core Net Investment Income (excl. Floating and Non-Recourse Funding)	  	$	745	  	  	$	746	  	 	$	747	  	 	$	752	  	 	$	737	  	 	$	2,982	  	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(D) / (A)	 	Reported Yield	  	 	4.51	% 	  	 	4.45	% 	 	 	4.47	% 	 	 	4.53	% 	 	 	4.48	% 	 	 	4.48	% 	
(E) / (B)	 	Core Yield	  	 	4.36	% 	  	 	4.35	% 	 	 	4.40	% 	 	 	4.46	% 	 	 	4.36	% 	 	 	4.39	% 	
(F) / (C)	 	Core Yield (excl. Floating and Non-Recourse Funding)	  	 	4.43	% 	  	 	4.49	% 	 	 	4.51	% 	 	 	4.54	% 	 	 	4.48	% 	 	 	4.51	% 	
 
Notes:	Columns may not add due to rounding.	
    	Yields have been annualized.	
Non-GAAP Definition for Core Yield
The company references the non-GAAP financial measure entitled “core yield” as a measure of investment yield. The company defines core yield as the investment yield adjusted for items that do not reflect the underlying performance of the investment portfolio. Management believes that analysis of core yield enhances understanding of the investment yield of the company. However, core yield is not a substitute for investment yield determined in accordance with GAAP.

(1)  	Represents the incremental assets and investment income related to restricted commercial mortgage loans and other invested assets.	
(2)  	Floating products refer to institutional products and the non-recourse funding obligations that support certain term and universal life insurance reserves in the company’s life insurance business.	
(3)  	Includes cost basis adjustments on structured securities and various other immaterial items.	
 
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Corporate Information

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2016
 Financial Strength Ratings As Of April 27, 2016

Company	  	Standard & Poor’s Financial
Services LLC (S&P)	  	Moody’s Investors Service, Inc.
(Moody’s)	  	A.M. Best Company, Inc.
(A.M. Best)	
Genworth Mortgage Insurance Corporation	  	BB+	  	Ba1	  	Not rated	
Genworth Financial Mortgage Insurance Company Canada (1)	  	A+	  	Not rated	  	Not rated	
Genworth Financial Mortgage Insurance Pty Limited (Australia) (2)	  	A+	  	A3	  	Not rated	
Genworth Financial Mortgage Insurance Limited (Europe)	  	B	  	Not rated	  	Not rated	
Genworth Life Insurance Company	  	BB	  	Ba1	  	B++	
Genworth Life and Annuity Insurance Company	  	BB	  	Baa2	  	B++	
Genworth Life Insurance Company of New York	  	BB	  	Ba1	  	B++	
The S&P, Moody’s, A.M. Best, Dominion Bond Rating Service (DBRS) and Fitch Rating Service (Fitch) ratings included are not designed to be, and do not serve as, measures of protection or valuation offered to investors. These financial strength ratings should not be relied on with respect to making an investment in the company’s securities.
S&P states that insurers rated “A” (Strong), “BB” (Marginal) or “B” (Weak) have strong, marginal or weak financial security characteristics, respectively. The “A,” “BB” and “B” ranges are the third-, fifth- and sixth-highest of nine financial strength rating ranges assigned by S&P, which range from “AAA” to “R.” A plus (+) or minus (-) shows relative standing within a major rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “CCC” category. Accordingly, the “A+,” “BB+,” “BB” and “B” ratings are the fifth-, eleventh-, twelfth- and fifteenth-highest of S&P’s 21 ratings categories.
Moody’s states that insurance companies rated “A” (Good) offer good financial security, that insurance companies rated “Baa” (Adequate) offer adequate financial security and that insurance companies rated “Ba” (Questionable) offer questionable financial security. The “A” (Good), “Baa” (Adequate) and “Ba” (Questionable) ranges are the third-, fourth- and fifth-highest, respectively, 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. These modifiers are not added to ratings in the “Aaa” category or to ratings below the “Caa” category. Accordingly, the “A3,” “Baa2” and “Ba1” ratings are the seventh-, ninth- and eleventh-highest, respectively, of Moody’s 21 ratings categories.
A.M. Best states that the “B++” (Good) rating is assigned to those companies that have, in its opinion, a good ability to meet their ongoing insurance obligations. The “B++” (Good) rating is the fifth-highest of 15 ratings assigned by A.M. Best, which range from “A++” to “F.”
DBRS states that long-term obligations rated “AA” are of superior credit quality. The capacity for the payment of financial obligations is considered high and unlikely to be significantly vulnerable to future events. Credit quality differs from “AAA” only to a small degree.
The Australian mortgage insurance subsidiary also solicits a rating from Fitch. Fitch states that “A” (Strong) rated insurance companies are viewed as possessing strong capacity to meet policyholder and contract obligations. The “A” rating category is the third-highest of nine financial strength rating categories, which range from “AAA” to “C.” The symbol (+) or (-) may be appended to a rating to indicate the relative position of a credit within a rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “B” category. Accordingly, the “A+” rating is the fifth-highest of Fitch’s 21 ratings categories.
The company also solicits a rating from HR Ratings on a local scale for Genworth Seguros de Credito a la Vivienda S.A. de C.V., its Mexican mortgage insurance subsidiary, with a short-term rating of “HR1” and long-term rating of “HR AA.” For short-term ratings, HR Ratings states that “HR1” rated companies are viewed as exhibiting high capacity for timely payment of debt obligations in the short-term and maintain low credit risk. The “HR1” short-term rating category is the highest of six short-term rating categories, which range from “HR1” to “HR D.” For long-term ratings, HR Ratings states that “HR AA” rated companies are viewed as having high credit quality and offer high safety for timely payment of debt obligations and maintain low credit risk under adverse economic scenarios. The “HR AA” long-term rating is the second-highest of HR Rating’s eight long-term rating categories, which range from “HR AAA” to “HR D.”
S&P, Moody’s, A.M. Best, DBRS, Fitch and HR Ratings review their ratings periodically and the company cannot assure you that it will maintain the current ratings in the future. Other agencies may also rate the company or its insurance subsidiaries on a solicited or an unsolicited basis.

(1)  	Genworth Financial Mortgage Insurance Company Canada is also rated “AA” by DBRS.	
(2)  	Genworth Financial Mortgage Insurance Pty Limited (Australia) is also rated “A+” by Fitch.	
 
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