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, 2015
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, 2015, Genworth Financial, Inc. issued (1) a press release announcing its financial results for the quarter ended March 31, 2015, 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, 2015, 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, 2015.	
		
99.2	  	Financial Supplement for the quarter ended March 31, 2015.	
 
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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, 2015				By:		/s/ Kelly L. Groh	
						Kelly L. Groh	
						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, 2015.	
		
99.2	  	Financial Supplement for the quarter ended March 31, 2015.	
 
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Exhibit 99.1

Genworth Financial Announces First Quarter 2015 Results
Net Income Of $154 Million, Or $0.31 Per Share
Results Reflect Favorable Mortality In U.S. Life Insurance & Strong Mortgage Insurance Loss Ratios
 
 	•	 	Progress Made On Review Of Strategic Options	
 
 	•	 	Achieved Targeted $250 To $300 Million Premium Increase Approvals On 2012 Long Term Care Insurance In Force Rate Action	
 
 	•	 	Received $132 Million Of Dividends From Operating Companies; Maintained Solid Capital Positions And Significant Holding Company Liquidity	
 
 	•	 	Will Comply With Final U.S. Mortgage Insurer Eligibility Requirements By Effective Date	
Richmond, VA (April 28, 2015) – Genworth Financial, Inc. (NYSE: GNW) today reported results for the period ended March 31, 2015. The company reported net income 1 of $154 million, or $0.31 per diluted share, compared with net income of $184 million, or $0.37 per diluted share, in the first quarter of 2014. Net operating income 2 for the first quarter of 2015 was $156 million, or $0.31 per diluted share, compared with net operating income of $194 million, or $0.39 per diluted share, in the first quarter of 2014.
Strategic Update
The company continues to make progress on its review of strategic options in order to position the company for future success and is actively engaged in three areas: (1) strengthening its mortgage insurance businesses and long term care insurance (LTC) capital, earnings and sales; (2) simplifying the business portfolio; and (3) increasing its financial strength and flexibility. In addition, the company continues to pursue the planned sale of its non-core lifestyle protection insurance business. The company

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.	
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

believes the execution of these strategic initiatives will improve operating returns, support compliance with the Private Mortgage Insurer Eligibility Requirements (PMIERs), reduce debt levels, increase LTC capital buffers and maintain solid holding company cash levels.
As disclosed on April 17, 2015, the company estimates $500 to $700 million of additional capital will be required to be fully compliant with the final PMIERs by the effective date of December 31, 2015. The company will comply with the final PMIERs by the effective date and intends to utilize both reinsurance and holding company cash to meet the additional capital requirement.
“Regarding the quarter, we are encouraged with the results in spite of continued challenges and remain focused on initiatives aimed at strengthening and building our businesses,” said Tom McInerney, President and CEO. “During the first quarter, we made significant progress on our strategic review and are developing next steps to position the company for future success. We look forward to updating you on specific actions as appropriate.”

Consolidated Net Income & Net Operating Income	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	
 	  	Three months ended March 31
(Unaudited)	 	  	 	 	
 	  	2015	 	  	2014	 	  	 	 	
(Amounts in millions, except per share)	  	Total	 	  	Per
diluted
share	 	  	Total	 	  	Per
diluted
share	 	  	Total
% change	 	
						
Net income available to Genworth’s common stockholders	  	$	154	  	  	$	0.31	  	  	$	184	  	  	$	0.37	  	  	 	(16	)% 	
Adjustment: Net income attributable to noncontrolling interests in Australia mortgage insurance (MI)	  	 	21	  	  	 	0.04	  	  	 	N/A	  	  	 	N/A	  	  	 	N/A	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Net income available to Genworth’s common stockholders before net income attributable to noncontrolling interests in Australia MI 2		$	175	  		$	0.35	  		$	184	  		$	0.37	  		 	(5	)% 	
						
Net operating income		$	156	  		$	0.31	  		$	194	  		$	0.39	  		 	(20	)% 	
Adjustment: Net operating income attributable to noncontrolling interests in Australia MI		 	21	  		 	0.04	  		 	N/A	  		 	N/A	  		 	N/A	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Net operating income before net operating income attributable to noncontrolling interests in Australia MI 2		$	177	  		$	0.35	  		$	194	  		$	0.39	  		 	(9	)% 	
Weighted average diluted shares		 	498.9	  						 	502.7	  									

 	  	Three months ended March 31
(Unaudited)	 	
 	  	2015	 	  	2014	 	
Book value per share	  	$	30.81	  	  	$	31.27	  	
Book value per share, excluding accumulated other comprehensive income (loss)	  	$	21.38	  	  	$	24.25	  	
Net investment losses, net of taxes and other adjustments, were $2 million in the quarter, compared to $10 million in the prior year. Net investment income decreased to $803 million, compared to $819 million in the prior quarter primarily from lower reinvestment rates and unfavorable foreign exchange. The reported yield for the current quarter was 4.51 percent. The core yield 2 was down compared to the prior quarter at 4.28 percent.
 
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Net operating income (loss) results are summarized in the table below:

Net Operating Income (Loss)	  	 	 	  	 	 	  	 	 	
(Amounts in millions)	  	Q1 15	 	  	Q4 14 	 	  	Q1 14	 	
Global Mortgage Insurance Division	  	$	116	3   	  	$	83	3   	  	$	132	 	
U.S. Life Insurance Division	  	 	81	  	  	 	(482	)  	  	 	94	 	
Corporate and Other Division	  	 	(41	) 	  	 	(17	)  	  	 	(32	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Total Net Operating Income (Loss)		$	156	  		$	(416	) 		$	194	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Net operating income (loss) excludes 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.
Unless specifically noted in the discussion of results for the International Mortgage Insurance and International Protection segments, 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 2015 was an unfavorable impact of $7 million versus the prior quarter and an unfavorable impact of $8 million versus the prior year.

3  	Excludes net operating income attributable to noncontrolling interests in the Australia MI business of $21 million in the first quarter of 2015 and fourth quarter of 2014 related to the Australia MI initial public offering (IPO) completed on May 21, 2014.	
 
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Global Mortgage Insurance Division
Global Mortgage Insurance Division had net operating income of $116 million, compared with $83 million in the prior quarter and $132 million a year ago.

Global Mortgage Insurance Division	 	
Net Operating Income (Loss)	  	 	 	  	 	 	  	 	 	
(Amounts in millions)	  	Q1 15	 	  	Q4 14	 	  	Q1 14	 	
International Mortgage Insurance	  				  				  				
Canada	  	$	40	  	  	$	36	  	  	$	41	 	
Australia	  	 	30	3  	  	 	33	3   	  	 	62	 	
Other Countries	  	 	(6	) 	  	 	(7	) 	  	 	(4	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Total International Mortgage Insurance		 	64	  		 	62	  		 	99	 	
U.S. Mortgage Insurance		 	52	  		 	21	  		 	33	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Total Global Mortgage Insurance		$	116	  		$	83	  		$	132	 	

Sales	  	 	 	  	 	 	  	 	 	
(Amounts in billions)	  	Q1 15	 	  	Q4 14	 	  	Q1 14	 	
International Mortgage Insurance	  				  				  				
Flow	  				  				  				
Canada	  	$	3.3	 	  	$	5.5	 	  	$	2.9	 	
Australia	  	 	5.8	 	  	 	8.0	 	  	 	7.8	 	
Other Countries	  	 	0.4	 	  	 	0.5	 	  	 	0.4	 	
Bulk	  				  				  				
Canada	  	 	5.0	 	  	 	2.3	 	  	 	2.9	 	
Australia	  	 	—  	 	  	 	0.1	 	  	 	—  	 	
Other Countries	  	 	0.2	 	  	 	—  	 	  	 	—  	 	
U.S. Mortgage Insurance	  				  				  				
Primary Flow	  	 	6.3	 	  	 	6.9	 	  	 	3.9	 	
Primary Bulk	  	 	—  	 	  	 	—  	 	  	 	—  	 	
Canada Mortgage Insurance
Canada reported net operating income of $40 million versus $36 million in the prior quarter and $41 million in the prior year. The loss ratio in the quarter was 22 percent, down four points from the prior quarter from fewer new delinquencies, net of cures and up two points from the prior year from a higher average reserve per delinquency, which was partially offset by a decrease in the number of new delinquencies, net of cures. Results included lower expenses versus the prior quarter and prior year and unfavorable foreign exchange. Flow NIW was down 36 percent 4 sequentially from a seasonally smaller originations market and up 24 percent 4 year over year primarily from a larger originations market. In addition, the company completed several bulk transactions in the quarter of approximately $5.0 billion in total, consisting of low loan-to-value prime loans, reflecting its selective participation in this market.
Australia Mortgage Insurance
Australia reported net operating income of $30 million versus $33 million in the prior quarter and $62 million in the prior year. Results in the quarter reflected a $21 million decrease in net operating income versus the prior year as a result of the minority IPO of 33.8 percent of the Australia MI business, which was completed on May 21, 2014. The loss ratio in the quarter was 15 percent, flat sequentially and down two points from the prior year. During the quarter, the company accrued a $7 million pre-tax receivable for

4  	Percent change excludes the impact of foreign exchange.	
 
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expected recoveries relating to paid claims reflecting its experience of successful borrower recovery activity, favorably impacting the loss ratio by nine points. New delinquencies were up 14 percent and cures were down 17 percent sequentially reflecting normal seasonal variation. Results were also impacted by unfavorable foreign exchange versus both the prior quarter and prior year. Flow NIW was down 20 percent 4 sequentially primarily from seasonal variation and other market factors and down 17 percent 4 year over year from a smaller mortgage insurance market.
Other Countries Mortgage Insurance
Other Countries had a net operating loss of $6 million, compared to $7 million in the prior quarter and $4 million in the prior year.
U.S. Mortgage Insurance
U.S. MI net operating income was $52 million, compared with $21 million in the prior quarter and $33 million in the prior year. The loss ratio in the current quarter was 33 percent, down 28 points sequentially reflecting seasonally lower new delinquencies and favorable net cures and aging of existing delinquencies. New flow delinquencies decreased approximately 12 percent from the prior quarter from seasonal variation and decreased approximately 22 percent from the prior year, reflecting the continued burn through of delinquencies from the 2005 to 2008 book years.
Flow NIW of $6.3 billion decreased nine percent from the prior quarter from a seasonally smaller purchase originations market and increased 62 percent versus the prior year primarily from a larger purchase originations market, higher refinance activity and an increase in estimated market share. During the quarter, the company increased its single premium lender paid new insurance written reflecting its selective participation in this market. Future volumes of this product will vary in part depending on the company’s evaluation of the risk return profile of these transactions.
 
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U.S. Life Insurance Division
U.S. Life Insurance Division net operating income was $81 million, compared with a net operating loss of $482 million in the prior quarter and net operating income of $94 million a year ago.

U.S. Life Insurance Division	 	
Net Operating Income (Loss)	 	
(Amounts in millions)	  	Q1 15	 	  	Q4 14	 	  	Q1 14	 	
U.S. Life Insurance	  				  				  				
Long Term Care Insurance	  	$	10	 	  	$	(506	) 	  	$	46	 	
Life Insurance	  	 	40	 	  	 	1	 	  	 	21	 	
Fixed Annuities	  	 	31	 	  	 	23	 	  	 	27	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Total U.S. Life Insurance		 	81	 		 	(482	) 		 	94	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Total U.S. Life Insurance		$	81	 		$	(482	) 		$	94	 	

Sales	 	
(Amounts in millions)	  	Q1 15	 	  	Q4 14	 	  	Q1 14	 	
U.S. Life Insurance	  				  				  				
Long Term Care Insurance	  				  				  				
Individual	  	$	10	 	  	$	17	 	  	$	21	 	
Group	  	 	1	 	  	 	6	 	  	 	1	 	
Life Insurance	  				  				  				
Term Life	  	 	9	 	  	 	11	 	  	 	13	 	
Universal Life	  	 	4	 	  	 	7	 	  	 	6	 	
Linked Benefits	  	 	4	 	  	 	5	 	  	 	2	 	
Fixed Annuities	  	 	326	 	  	 	495	 	  	 	520	 	
Long Term Care Insurance
LTC net operating income was $10 million, compared with a net operating loss of $506 million in the prior quarter and net operating income of $46 million in the prior year. Benefits and other changes in policy reserves decreased $506 million after-tax versus the prior quarter and increased $66 million after-tax versus the prior year. The current quarter included favorable mortality on existing claims versus both the prior quarter and prior year partially offset by unfavorable severity given the mix of new claims with a higher average reserve. Results in the quarter included net unfavorable items of $7 million after-tax reflecting a refinement to a reserve calculation on the acquired block of business, partially offset primarily by a correction related to reinsurance. During the quarter, the company began implementing a process to accrue for profits followed by losses on business written since late 1995, but it had no impact on the current quarter financial results. The prior quarter impact of the unlocking of assumptions associated with the active life reserves on the acquired block, as well as additional adjustments to reserves, was $494 million after-tax. The loss ratio in the current quarter was 72 percent.
Results for the quarter included lower benefits from reduced benefit options of $3 million after-tax versus the prior quarter related to the premium increases approved and implemented to date.
 
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Individual LTC sales of $10 million were lower than the prior quarter and the prior year. Sales are expected to continue at low levels in the near term due to the 2014 introduction of a higher priced product and ratings pressure, but build over time as new products are introduced.
Life Insurance
Life insurance net operating income was $40 million, compared with $1 million in the prior quarter and $21 million in the prior year. Results in the quarter included favorable mortality versus pricing, in line with the prior quarter and better than the prior year, and favorable term life insurance reserve development from aging of the block and lower new business. During the quarter, the company completed a reinsurance transaction that reduced paid claims that were offset with lower premiums resulting in a minimal reduction in net operating income, but will reduce future excess reserve financing costs. Results in the prior quarter included an unfavorable correction to a reserve calculation on a reinsurance transaction of $32 million. Sales of $17 million decreased compared to the prior quarter and the prior year. Linked benefit product deposits were $41 million in the quarter, down from $42 million in the prior quarter and up from $25 million in the prior year.
Fixed Annuities
Fixed annuities net operating income was $31 million, compared with $23 million in the prior quarter and $27 million in the prior year. Results in the quarter reflected favorable mortality versus both the prior quarter and prior year and lower lapses versus the prior quarter. Sales in the quarter totaled $326 million, down sequentially and versus the prior year given the lower interest rate environment and ratings impacts.
Corporate and Other Division
Corporate and Other Division net operating loss was $41 million, compared with $17 million in the prior quarter and $32 million in the prior year.

Corporate and Other Division	 	
Net Operating Income (Loss)	 	
(Amounts in millions)	  	Q1 15	 	  	Q4 14	 	  	Q1 14	 	
International Protection	  	$	—  	 	  	$	(4	) 	  	$	7	 	
Runoff	  	 	11	 	  	 	16	 	  	 	12	 	
Corporate and Other	  	 	(52	) 	  	 	(29	) 	  	 	(51	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Total Corporate and Other		$	(41	) 		$	(17	) 		$	(32	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	
International Protection net operating income was zero for the quarter, compared with a net operating loss of $4 million in the prior quarter and net operating income of $7 million in the prior year. Results in the prior quarter reflected $4 million of net unfavorable items and the prior year reflected $4 million of favorable tax adjustments.
 
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Runoff net operating income was $11 million, compared with $16 million in the prior quarter and $12 million in the prior year. Results in the current quarter reflect less favorable taxes partially offset by favorable equity market performance versus the prior quarter primarily impacting variable annuity products.
Corporate and Other net operating loss was $52 million, compared with $29 million in the prior quarter and $51 million in the prior year. Results in the prior quarter reflected favorable year-end tax benefits.
Capital & Liquidity
Genworth maintains solid capital positions in its operating subsidiaries.

Key Capital & Liquidity Metrics	  	 	 	 	 	 	 	 	 	
(Dollar amounts in millions)	  	Q1 15	 	 	Q4 14	 	 	Q1 14	 	
Canada MI	  				 				 				
Minimum Capital Test Ratio 5	  	 	233	% 	 	 	225	% 	 	 	229	% 	
Australia MI	  				 				 				
Prescribed Capital Amount Ratio 5	  	 	163	% 	 	 	159	% 	 	 	147	% 	
U.S. MI	  				 				 				
Consolidated Risk-To-Capital Ratio 5	  	 	14.1:1	  	 	 	14.5:1	  	 	 	18.7:1	  	
GMICO Risk-To-Capital Ratio 5	  	 	13.8:1	  	 	 	14.3:1	  	 	 	18.4:1	  	
U.S. Life Companies	  				 				 				
Consolidated Risk-Based Capital (RBC) Ratio 5	  	 	450	% 	 	 	438	% 	 	 	480	% 	
Unassigned Surplus 5	  	$	115	 	 	$	155	 	 	$	444	 	
Lifestyle Protection Insurance	  				 				 				
Regulatory Ratio 5	  	 	348	% 	 	 	365	% 	 	 	362	% 	
Holding Company 6 Cash and Liquid Assets 7  	  	$	1,070	 	 	$	1,103	 	 	$	1,268	 	
Key Points
 
 	•	 	Canada and Australia paid $126 million in dividends to the holding company during the quarter;	
 
 	•	 	U.S. Life Insurance companies unassigned surplus decreased primarily from approximately $70 million related to the completion of a life reinsurance transaction that will reduce future excess reserve financing costs;	
 
 	•	 	The holding company ended the quarter with a buffer of approximately $585 million in excess of one and a half times annual debt service and restricted cash;	
 
 	•	 	The holding company targets maintaining cash balances of at least one and a half times its annual debt service expense plus a risk buffer of $350 million; and	
 
 	•	 	In April, the Australia business received regulatory approval for the potential issuance of up to A$250 million of subordinated notes, but a decision to issue these notes has not yet been made and will be subject to business and market conditions.	

5  	Company estimate for the first quarter of 2015, due to timing of the filing of statutory statements.	
6  	Holding company cash and liquid assets comprise 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 $820 million, $953 million and $1,118, respectively, and U.S. government bonds of $250 million, $150 million and $150 million, respectively, as of March 31, 2015, December 31, 2014 and March 31, 2014.	
 
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About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company committed to helping families become more financially secure, self-reliant and prepared for the future. To help families start “the talk” about their futures and long term care planning, Genworth recently completed a national #LetsTalk Tour to encourage conversations and information sharing. Genworth has leadership positions in mortgage insurance and long term care insurance and product offerings in life insurance and fixed annuities that assist consumers in solving their home ownership, insurance and retirement needs. 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 2015 financial supplement are now posted on the company’s website. Additional information regarding business results and strategic update will be posted on the company’s website, http://investor.genworth.com , by 7:30 a.m. on April 29, 2015. Investors are encouraged to review these materials.
Genworth will conduct a conference call on April 29, 2015 at 8:00 a.m. (ET) to discuss first quarter 2015 results and provide an update on strategic priorities. The conference call will be accessible via telephone and the Internet. The dial-in number for the conference call is 877 888.4034 or 913 489.5101 (outside the U.S.); conference ID # 9308558. 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, 2015 at 888 203.1112 or 719 457.0820 (outside the U.S.); conference ID # 9308558. 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 share.” Operating earnings (loss) per 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.
In the first quarter of 2015, the company modified its definition to explicitly state that restructuring costs, which were previously included in the infrequent and unusual category, are excluded from net operating income (loss). There were no restructuring costs in the periods presented.
In the fourth quarter of 2014, the company recorded goodwill impairments of $129 million, net of taxes, in the long term care insurance business and $145 million, net of taxes, in the life insurance business.
There were no infrequent or unusual items excluded from net operating income (loss) during the periods presented other than the following items. There was a $66 million net tax impact in the fourth quarter of 2014 from potential business portfolio changes. Although no decisions have been made, the company recognized a tax charge of $174 million in the fourth quarter of 2014 associated with the Australian mortgage insurance business as the company can no longer assert its intent to permanently reinvest earnings in that business. In connection with the company’s plans to sell the lifestyle protection insurance business, the company completed an internal debt restructuring recognizing tax benefits of $108 million in the fourth quarter of 2014.
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.
 
10

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, 2015 and 2014, as well as for the three months ended December 31, 2014.
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 deferred acquisition costs and other intangible amortization and certain benefit reserves.
This press release also includes non-GAAP financial measures entitled “net income (loss) before net income attributable to noncontrolling interests in the Australia MI business” and “net operating income (loss) before net operating income attributable to noncontrolling interests in the Australia MI business.” The company defines net income (loss) before net income attributable to noncontrolling interests in the Australia MI business and net operating income (loss) before net operating income attributable to noncontrolling interests in the Australia MI business as net income (loss) or net operating income (loss), as applicable, adjusted for net income attributable to noncontrolling interests in the Australia MI business but before noncontrolling interests in the Canada MI business. These measures are presented as they are comparable to net income (loss) and net operating income (loss) for the first quarter of 2014. However, net income (loss) before net income attributable to noncontrolling interests in the Australia MI business and net operating income (loss) before net operating income attributable to noncontrolling interests in the Australia MI business are not substitutes for net income (loss) and net operating income (loss) determined in accordance with GAAP. A reconciliation of net income (loss) before net income attributable to noncontrolling interests in the Australia MI business and net operating income (loss) before net operating income attributable to noncontrolling interests in the Australia MI business to net income (loss) and net operating income (loss) is included in a table at the end of this press release.
This press release includes the non-GAAP financial measure entitled “core yield” as a measure of investment yield. The company defines core yield as the investment yield adjusted for those items that are not recurring in nature. Management believes that analysis of core yield enhances understanding of the investment yield of the company. However, core yield is not a substitute for investment yield determined in accordance with GAAP. In addition, the company’s definition of core yield may differ from the definitions used by other companies. A reconciliation of core yield to reported GAAP yield is included in a table at the end of this press release.
Results of Operations by Segment
In the first quarter of 2015, the company revised how it allocates the consolidated provision for income taxes to its operating segments to simplify the process and reflect how the chief operating decision maker is evaluating segment performance. The revised methodology applies a specific tax rate to the pre-tax income (loss) of each segment, which is then adjusted in each segment to reflect the tax attributes of items unique to that segment such as foreign income. The difference between the consolidated provision for income taxes and the sum of the provision for income taxes in each segment is reflected in Corporate and Other activities. Previously, the company calculated a unique income tax provision for each segment based on quarterly changes to tax attributes and implications of transactions specific to each product within the segment.
The annually-determined tax rates and adjustments to each segment’s provision for income taxes are estimates which are subject to review and could change from year to year. Prior year amounts have not been re-presented to reflect this revised presentation and are, therefore, not comparable to the current year provision for income taxes by segment. However, the company does not believe that the previous methodology would have resulted in a materially different segment-level provision for income taxes.
 
11

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; (5) new and additional premiums/deposits for fixed annuities; and (6) net premiums written for the lifestyle protection insurance business. 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, new premiums/deposits and net premiums written to be a measure of the company’s operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company’s revenues or profitability during that period.
Management regularly monitors and reports insurance in force and risk in force. Insurance in force for the international mortgage and U.S. mortgage insurance businesses is a measure of the aggregate face value of outstanding insurance policies as of the respective reporting date. For risk in force in the international mortgage insurance business, the company has computed an “effective” risk in force amount, which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in force has been calculated by applying to insurance in force a factor of 35 percent that represents the highest expected average per-claim payment for any one underwriting year over the life of the company’s businesses in Canada and Australia. Risk in force for the U.S. mortgage insurance business is the obligation that is limited under contractual terms to the amounts less than 100 percent of the mortgage loan value. The company considers insurance in force and risk in force to be measures of the company’s operating performance because they represent measures of the size of the business at a specific date which will generate revenues and profits in a future period, rather than measures of the company’s revenues or profitability during that period.
Management also regularly monitors and reports a loss ratio for the company’s businesses. For the mortgage and lifestyle protection 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.
 
12

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:
 
 	•	 	Risks relating to all of the company’s businesses, including: (i) inability to successfully develop and execute strategic plans to effectively address the company’s current business challenges (including with respect to its long term care insurance business, ratings and capital), including as a result of failure to attract buyers for the company’s lifestyle protection insurance business and 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; inability to generate required capital; failure to obtain any required regulatory, stockholder and/or noteholder approvals or consents, or the company’s 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; adverse tax or accounting charges; (ii) inability to increase the capital needed in the company’s 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; (iii) 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 (including as a result of the company’s actual experience differing significantly from its assumptions); (iv) ineffective or inadequate risk management in identifying, controlling or mitigating risks; weaknesses in, or ineffective, internal controls; (v) recent or future adverse rating agency actions, including with respect to rating downgrades or potential downgrades, being placed on negative outlook 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; (vi) inability to retain, attract and motivate qualified employees and independent sales representatives, particularly in the light of the company’s recent business challenges; (vii) adverse change in regulatory requirements, including risk-based capital; (viii) dependence on dividends and other distributions from the company’s subsidiaries (particularly the company’s 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 the subsidiaries and insurance, regulatory or corporate law restrictions (including the unwillingness or inability of the subsidiary that indirectly owns most of the company’s 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 guarantee of certain long term care insurance related reinsurance arrangements); (ix) inability to borrow under the company’s credit facility; (x) downturns and volatility in global economies and equity and credit markets; (xi) interest rates and changes in rates; (xii) availability, affordability and adequacy of reinsurance to protect the company against losses; (xiii) defaults by counterparties to reinsurance arrangements or derivative instruments; (xiv) changes in valuation of fixed maturity, equity and trading securities; (xv) defaults or other events impacting the value of the company’s fixed maturity securities portfolio; (xvi) defaults on the company’s commercial mortgage loans or the mortgage loans underlying its investments in commercial mortgage-backed securities and volatility in performance; (xvii) competition; (xviii) reliance on, and loss of, key distribution relationships; (xix) extensive regulation of the company’s businesses and changes in applicable laws and regulations; (xx) litigation and regulatory investigations or other actions (including the two shareholder putative class action lawsuits alleging securities law violations filed against the company in 2014); (xxi) the material weakness in the company’s internal control over financial reporting; (xxii) 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, the company’s confidential information; (xxiii) occurrence of natural or man-made disasters or a pandemic; (xxiv) impact of additional regulations pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act; (xxv) changes in accounting and reporting standards; (xxvi) impairments of or valuation allowances against the company’s deferred tax assets; (xxvii) accelerated amortization of deferred acquisition costs and present value of future profits (including as a result of any changes the company may make to its assumptions, methodologies or otherwise in connection with periodic or other reviews); (xxviii) political and economic instability or changes in government policies; and (xxix) fluctuations in foreign currency exchange rates and international securities markets;	
 
13

 	•	 	Risks relating primarily to the company’s mortgage insurance businesses, including: (i) deterioration in economic conditions or a decline in home prices that adversely affect the company’s loss experience in mortgage insurance; (ii) premiums for the significant portion of the company’s international 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; (iii) competition in the company’s international and U.S. mortgage insurance businesses, including from government and government-owned and government-sponsored enterprises offering mortgage insurance; (iv) changes in regulations adversely affecting the company’s international operations; (v) inability to meet the private mortgage insurance eligibility requirements (PMIERs) on the contemplated timetable with the contemplated funding; (vi) inability of U.S. mortgage insurance subsidiaries to meet minimum statutory capital requirements and hazardous financial condition standards; (vii) 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; (viii) increases in U.S. mortgage insurance default rates; (ix) inability to realize anticipated benefits of the company’s rescissions, curtailments, loan modifications or other similar programs in its U.S. mortgage insurance business; (x) problems associated with foreclosure process defects in the United States that may defer claim payments; (xi) competition with government-sponsored enterprises may put the company at a disadvantage on pricing and other terms and conditions; (xii) adverse changes in regulations affecting the company’s U.S. mortgage insurance business; (xiii) decreases in the volume of high loan-to-value mortgage originations or increases in mortgage insurance cancellations in the United States; (xiv) increases in the use of alternatives to private mortgage insurance in the United States and reductions in the level of coverage selected; and (xv) potential liabilities in connection with the company’s U.S. contract underwriting services;	
 
 	•	 	Risks relating primarily to the company’s long term care insurance, life insurance and annuities businesses, including: (i) 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 (including the future increases assumed in connection with the completion of the company’s margin reviews in the fourth quarter of 2014) and as may be required from time to time in the future (including as a result of its 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; (ii) failure to sufficiently increase demand for the company’s long term care insurance, life insurance and fixed annuity products; (iii) 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 company’s long term care insurance business); (iv) deviations from the persistency assumptions used to price and establish reserves for the company’s insurance policies and annuity contracts; (v) medical advances, such as genetic research and diagnostic imaging, and related legislation that impact policyholder behavior in ways adverse to the company; and (vi) inability to continue to implement actions to mitigate the impact of statutory reserve requirements;	
 
 	•	 	Other risks, including: (i) 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 (ii) 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: (i) the continued suspension of payment of dividends; and (ii) stock price fluctuations.	
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.
 
14

# # #

Contact Information :	
		
Investors:		Amy Corbin, 804 662.2685	
		
		amy.corbin@genworth.com	
		
Media:		Al Orendorff, 804 662.2534	
		
		alfred.orendorff@genworth.com	
 
15

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

 	  	Three months ended
March 31,	 	
 	  	2015	 	 	2014	 	
Revenues:	  				 				
Premiums	  	$	1,323	 	 	$	1,307	 	
Net investment income	  	 	803	 	 	 	805	 	
Net investment gains (losses)	  	 	(16	) 	 	 	(17	) 	
Insurance and investment product fees and other	  	 	225	 	 	 	227	 	
	  	 	 	 	 	 	 	 	
Total revenues		 	2,335	 		 	2,322	 	
	  	 	 	 	 	 	 	 	
Benefits and expenses:									
Benefits and other changes in policy reserves		 	1,243	 		 	1,194	 	
Interest credited		 	180	 		 	183	 	
Acquisition and operating expenses, net of deferrals		 	380	 		 	378	 	
Amortization of deferred acquisition costs and intangibles		 	121	 		 	134	 	
Interest expense		 	116	 		 	127	 	
	  	 	 	 	 	 	 	 	
Total benefits and expenses		 	2,040	 		 	2,016	 	
	  	 	 	 	 	 	 	 	
Income before income taxes		 	295	 		 	306	 	
Provision for income taxes		 	91	 		 	87	 	
	  	 	 	 	 	 	 	 	
Net income		 	204	 		 	219	 	
Less: net income attributable to noncontrolling interests		 	50	 		 	35	 	
	  	 	 	 	 	 	 	 	
Net income available to Genworth Financial, Inc.’s common stockholders		$	154	 		$	184	 	

Net income available to Genworth Financial, Inc.’s common stockholders per common share:									
Basic		$	0.31	 		$	0.37	 	
	  	 	 	 	 	 	 	 	
Diluted		$	0.31	 		$	0.37	 	
	  	 	 	 	 	 	 	 	
Weighted-average shares outstanding:									
Basic		 	497.0	 		 	495.8	 	
	  	 	 	 	 	 	 	 	
Diluted		 	498.9	 		 	502.7	 	

16

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,	 	
 	  	2015	 	 	2014	 	 	2014	 	
Net operating income (loss):	  				 				 				
Global Mortgage Insurance Division	  				 				 				
International Mortgage Insurance segment	  				 				 				
Canada	  	$	40	  	 	$	41	 	 	$	36	  	
Australia	  	 	30	3  	 	 	62	 	 	 	33	3  	
Other Countries	  	 	(6	) 	 	 	(4	) 	 	 	(7	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Total International Mortgage Insurance segment		 	64	  		 	99	 		 	62	  	
U.S. Mortgage Insurance segment		 	52	  		 	33	 		 	21	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Total Global Mortgage Insurance Division		 	116	  		 	132	 		 	83	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
U.S. Life Insurance Division													
U.S. Life Insurance segment													
Long Term Care Insurance		 	10	  		 	46	 		 	(506	) 	
Life Insurance		 	40	  		 	21	 		 	1	  	
Fixed Annuities		 	31	  		 	27	 		 	23	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance segment		 	81	  		 	94	 		 	(482	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Total U.S. Life Insurance Division		 	81	  		 	94	 		 	(482	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Corporate and Other Division													
International Protection segment		 	—  	  		 	7	 		 	(4	) 	
Runoff segment		 	11	  		 	12	 		 	16	  	
Corporate and Other		 	(52	) 		 	(51	) 		 	(29	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Total Corporate and Other Division		 	(41	) 		 	(32	) 		 	(17	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net operating income (loss)		 	156	  		 	194	 		 	(416	) 	
Adjustments to net operating income (loss):													
Net investment gains (losses), net (see below for reconciliation)		 	(2	) 		 	(10	) 		 	(4	) 	
Goodwill impairment, net		 	—  	  		 	—  	 		 	(274	) 	
Tax impact from potential business portfolio changes		 	—  	  		 	—  	 		 	(66	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income (loss) available to Genworth Financial, Inc.’s common stockholders		 	154	  		 	184	 		 	(760	) 	
Add: net income attributable to noncontrolling interests		 	50	  		 	35	 		 	52	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net income (loss)		$	204	  		$	219	 		$	(708	) 	

Net income (loss) available to Genworth Financial, Inc.’s common stockholders per common share:													
Basic		$	0.31	  		$	0.37	 		$	(1.53	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted		$	0.31	  		$	0.37	 		$	(1.53	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net operating income (loss) per common share:													
Basic		$	0.31	  		$	0.39	 		$	(0.84	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted		$	0.31	  		$	0.39	 		$	(0.84	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	
Weighted-average shares outstanding:													
Basic		 	497.0	  		 	495.8	 		 	496.7	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Diluted 8  		 	498.9	  		 	502.7	 		 	496.7	  	

Reconciliation of net investment gains (losses):													
Net investment gains (losses), gross		$	(16	) 		$	(17	) 		$	(10	) 	
Adjustments for:													
Deferred acquisition costs and other intangible amortization and certain benefit reserves		 	6	  		 	1	 		 	1	  	
Net investment gains (losses) attributable to noncontrolling interests		 	7	  		 	1	 		 	1	  	
Taxes		 	1	  		 	5	 		 	4	  	
	  	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), net of taxes and other adjustments		$	(2	) 		$	(10	) 		$	(4	) 	

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 company’s loss for the three months ended December 31, 2014, 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 would have been antidilutive to the calculation. If the company had not incurred a loss during the three months ended December 31, 2014, dilutive potential weighted average common shares outstanding would have been 499.9 million.	
 
17

Condensed Consolidated Balance Sheets
(Amounts in millions)

 	  	March 31,
2015	 	 	December 31,
2014	 	
Assets	  				 				
Cash, cash equivalents and invested assets	  	$	80,118	 	 	$	78,841	 	
Deferred acquisition costs	  	 	4,918	 	 	 	5,042	 	
Intangible assets	  	 	227	 	 	 	272	 	
Goodwill	  	 	15	 	 	 	16	 	
Reinsurance recoverable	  	 	17,339	 	 	 	17,346	 	
Other assets	  	 	650	 	 	 	633	 	
Separate account assets	  	 	9,064	 	 	 	9,208	 	
	  	 	 	 	 	 	 	 	
Total assets		$	112,331	 		$	111,358	 	
	  	 	 	 	 	 	 	 	
Liabilities and stockholders’ equity									
Liabilities:									
Future policy benefits		$	36,488	 		$	35,915	 	
Policyholder account balances		 	26,146	 		 	26,043	 	
Liability for policy and contract claims		 	8,030	 		 	8,043	 	
Unearned premiums		 	3,731	 		 	3,986	 	
Deferred tax and other liabilities		 	5,002	 		 	4,512	 	
Borrowings related to securitization entities		 	205	 		 	219	 	
Non-recourse funding obligations		 	1,983	 		 	1,996	 	
Long-term borrowings		 	4,601	 		 	4,639	 	
Separate account liabilities		 	9,064	 		 	9,208	 	
	  	 	 	 	 	 	 	 	
Total liabilities		 	95,250	 		 	94,561	 	
	  	 	 	 	 	 	 	 	
Stockholders’ equity:									
Common stock		 	1	 		 	1	 	
Additional paid-in capital		 	11,998	 		 	11,997	 	
	  	 	 	 	 	 	 	 	
Accumulated other comprehensive income (loss):									
Net unrealized investment gains (losses):									
Net unrealized gains (losses) on securities not other-than-temporarily impaired		 	2,724	 		 	2,431	 	
Net unrealized gains (losses) on other-than-temporarily impaired securities		 	24	 		 	22	 	
	  	 	 	 	 	 	 	 	
Net unrealized investment gains (losses)		 	2,748	 		 	2,453	 	
	  	 	 	 	 	 	 	 	
Derivatives qualifying as hedges		 	2,247	 		 	2,070	 	
Foreign currency translation and other adjustments		 	(303	) 		 	(77	) 	
	  	 	 	 	 	 	 	 	
Total accumulated other comprehensive income (loss)		 	4,692	 		 	4,446	 	
Retained earnings		 	1,333	 		 	1,179	 	
Treasury stock, at cost		 	(2,700	) 		 	(2,700	) 	
	  	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity		 	15,324	 		 	14,923	 	
Noncontrolling interests		 	1,757	 		 	1,874	 	
	  	 	 	 	 	 	 	 	
Total stockholders’ equity		 	17,081	 		 	16,797	 	
	  	 	 	 	 	 	 	 	
Total liabilities and stockholders’ equity		$	112,331	 		$	111,358	 	

18

Impact of Foreign Exchange on Operating Results 9
Three months ended March 31, 2015

 	  	Percentages
Including Foreign
Exchange	 	 	Percentages
Excluding Foreign
Exchange 10	 	
			
Canada Mortgage Insurance (MI):	  				 				
Flow new insurance written	  	 	14	% 	 	 	24	% 	
Flow new insurance written (1Q15 vs. 4Q14)	  	 	(40	)% 	 	 	(36	)% 	
			
Australia MI:	  				 				
Flow new insurance written	  	 	(26	)% 	 	 	(17	)% 	
Flow new insurance written (1Q15 vs. 4Q14)	  	 	(28	)% 	 	 	(20	)% 	

9  	All percentages are comparing the first quarter of 2015 to the first quarter of 2014 unless otherwise stated.	
10  	The impact of foreign exchange was calculated using the comparable prior period exchange rates.	
 
19

Reconciliation of Net Income (Loss) Before Net Income Attributable to Noncontrolling
Interests In The Australia MI Business to Net Income (Loss) Available to Genworth’s Common
Stockholders and Net Operating Income (Loss) Before Net Operating Income Attributable
to Noncontrolling Interests In The Australia MI Business to Net Operating Income (Loss)
(Amounts in millions)

 	  	Three
months ended
March 31,	 	  	Three
months ended
December 31,	 	
 	  	2015	 	  	2014	 	  	2014	 	
Net income (loss) before net income attributable to noncontrolling interests	  	$	204	 	  	$	219	 	  	$	(708	) 	
Adjustments for:	  				  				  				
Net income attributable to noncontrolling interests in the Australia MI business	  	 	21	 	  	 	N/A	  	  	 	22	 	
Net income attributable to noncontrolling interests in the Canada MI business	  	 	29	 	  	 	35	 	  	 	30	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Net income (loss) available to Genworth’s common stockholders		$	154	 		$	184	 		$	(760	) 	

Net operating income (loss) before net operating income attributable to noncontrolling interests		$	211	 		$	230	 		$	(363	) 	
Adjustments for:													
Net operating income attributable to noncontrolling interests in the Australia MI business		 	21	 		 	N/A	  		 	21	 	
Net operating income attributable to noncontrolling interests in the Canada MI business		 	34	 		 	36	 		 	32	 	
	  	 	 	 	  	 	 	 	  	 	 	 	
Net operating income (loss)		$	156	 		$	194	 		$	(416	) 	

20

Reconciliation of Core Yield to Reported Yield

(Assets - amounts in billions)	  	For the three
months ended
March 31,
2015	 	
Reported Total Invested Assets and Cash	  	$	79.4	  	
Subtract:	  				
Securities lending	  	 	0.3	  	
Unrealized gains (losses)	  	 	7.9	  	
Derivative counterparty collateral	  	 	—  	  	
	  	 	 	 	
Adjusted end of period invested assets		$	71.2	  	

Average Invested Assets Used in Reported Yield Calculation		$	71.2	  	
Subtract:					
Restricted commercial mortgage loans and other invested assets related to securitization entities 11		 	0.2	  	
	  	 	 	 	
Average Invested Assets Used in Core Yield Calculation		$	71.0	  	

(Income - amounts in millions)	  	 	 	
Reported Net Investment Income	  	$	803	  	
Subtract:	  				
Bond calls and commercial mortgage loan prepayments	  	 	14	  	
Reinsurance 12	  	 	15	  	
Other non-core items 13	  	 	12	  	
Restricted commercial mortgage loans and other invested assets related to securitization entities 11	  	 	3	  	
	  	 	 	 	
Core Net Investment Income		$	759	  	

Reported Yield		 	4.51	% 	
	  	 	 	 	
Core Yield		 	4.28	% 	

11  	Represents the incremental assets and investment income related to restricted commercial mortgage loans and other invested assets.	
12  	Represents imputed investment income related to reinsurance agreements in the lifestyle protection insurance business.	
13  	Includes cost basis adjustments on structured securities, preferred stock income and various other immaterial items.	
 
21

Table of Contents
Exhibit 99.2
First Quarter Financial Supplement
March 31, 2015

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015

 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 Division	  				
Net Operating Income and Sales—Global Mortgage Insurance Division	  	 	16-37	  	
Net Operating Income (Loss) and Sales—U.S. Life Insurance Division	  	 	39-44	  	
Net Operating Loss and Other Metrics—Corporate and Other Division	  	 	46-55	  	
		
Additional Financial Data	  				
Investments Summary	  	 	57	  	
Fixed Maturity Securities Summary	  	 	58	  	
General Account GAAP Net Investment Income Yields	  	 	59	  	
Net Investment Gains (Losses), Net—Detail	  	 	60	  	
		
Reconciliations of Non-GAAP Measures	  				
Reconciliation of Operating Return On Equity (ROE)	  	 	62	  	
Reconciliation of Core Yield	  	 	63	  	
		
Corporate Information	  				
Industry Ratings	  	 	65	  	
Note:
Unless otherwise noted, references in this financial supplement to net income (loss), net income (loss) per share, book value and book value per common share should be read as 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.
 
2

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Dear Investor,
In the first quarter of 2015, the company revised how it allocates income taxes to its operating segments. The revised methodology applies a specific tax rate to the pre-tax income (loss) of each segment, which is then adjusted in each segment to reflect the tax attributes of items unique to that segment such as foreign income. The difference between consolidated income taxes and the sum of each segment is reflected in Corporate and Other activities. Previously, the company calculated income taxes for each segment based on quarterly changes to tax attributes and product specific transactions within the segment. See page 5 for additional information related to this revised presentation.
Thank you for your continued interest in Genworth Financial.
Regards,
Amy Corbin
Investor Relations
InvestorInfo@genworth.com
 
3

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 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.
In the first quarter of 2015, the company modified its definition to explicitly state that restructuring costs, which were previously included in the infrequent and unusual category, are excluded from net operating income (loss). There were no restructuring costs in the periods presented.
In the fourth quarter of 2014, the company recorded goodwill impairments of $129 million, net of taxes, in the long-term care insurance business and $145 million, net of taxes, in the life insurance business. In the third quarter of 2014, the company recorded goodwill impairments of $167 million, net of taxes, in the long-term care insurance business and $350 million, net of taxes, in the life insurance business.
The following transaction was excluded from net operating income (loss) for the periods presented as it related to the loss on the early extinguishment of debt. In the second quarter of 2014, the company paid an early redemption payment of approximately $2 million, net of taxes and portion attributable to noncontrolling interests, related to the early redemption of Genworth MI Canada Inc.’s notes that were scheduled to mature in 2015.
There were no infrequent or unusual items excluded from net operating income (loss) during the periods presented other than the following items. There was a $66 million net tax impact in the fourth quarter of 2014 from potential business portfolio changes. Although no decisions have been made, the company recognized a tax charge of $174 million in the fourth quarter of 2014 associated with the Australian mortgage insurance business as the company can no longer assert its intent to permanently reinvest earnings in that business. In connection with the company’s plans to sell the lifestyle protection insurance business, the company completed an internal debt restructuring recognizing tax benefits of $108 million in the fourth quarter of 2014.
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.
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 62 and 63 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 60).

(1)  	U.S. Generally Accepted Accounting Principles	
 
4

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 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.
In the first quarter of 2015, the company revised how it allocates the consolidated provision for income taxes to its operating segments to simplify the process and reflect how the chief operating decision maker is evaluating segment performance. The revised methodology applies a specific tax rate to the pre-tax income (loss) of each segment, which is then adjusted in each segment to reflect the tax attributes of items unique to that segment such as foreign income. The difference between the consolidated provision for income taxes and the sum of the provision for income taxes in each segment is reflected in Corporate and Other activities. Previously, the company calculated a unique income tax provision for each segment based on quarterly changes to tax attributes and implications of transactions specific to each product within the segment.
The annually-determined tax rates and adjustments to each segment’s provision for income taxes are estimates which are subject to review and could change from year to year. Prior year amounts have not been re-presented to reflect this revised presentation and are, therefore, not comparable to the current year provision for income taxes by segment. However, the company does not believe that the previous methodology would have resulted in a materially different segment-level provision for income taxes.
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; (5) new and additional premiums/deposits for fixed annuities; and (6) net premiums written for the lifestyle protection insurance business. 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, new premiums/deposits, and net premiums written to be a measure of the company’s operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company’s revenues or profitability during that period.
Management regularly monitors and reports insurance in-force and risk in-force. Insurance in-force for the international mortgage and U.S. mortgage insurance businesses is a measure of the aggregate face value of outstanding insurance policies as of the respective reporting date. For risk in-force in the international mortgage insurance business, the company has computed an “effective” risk in-force amount, which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in-force has been calculated by applying to insurance in-force a factor of 35% 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. 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. 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 and lifestyle protection 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.
 
5

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Financial Highlights
(amounts in millions, except per share data)

Balance Sheet Data	  	March 31,
2015	 	 	December 31,
2014	 	 	September 30,
2014	 	 	June 30,
2014	 	 	March 31,
2014	 	
Total Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income	  	$	10,632	  	 	$	10,477	  	 	$	11,231	  	 	$	12,070	  	 	$	12,032	  	
Total accumulated other comprehensive income	  	 	4,692	  	 	 	4,446	  	 	 	3,934	  	 	 	4,161	  	 	 	3,483	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity		$	15,324	  		$	14,923	  		$	15,165	  		$	16,231	  		$	15,515	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Book value per common share		$	30.81	  		$	30.04	  		$	30.54	  		$	32.68	  		$	31.27	  	
Book value per common share, excluding accumulated other comprehensive income		$	21.38	  		$	21.09	  		$	22.62	  		$	24.31	  		$	24.25	  	
Common shares outstanding as of the balance sheet date		 	497.4	  		 	496.7	  		 	496.6	  		 	496.6	  		 	496.2	  	
		
 	  	Twelve months ended	 	
Twelve Month Rolling Average ROE	  	March 31,
2015	 	 	December 31,
2014	 	 	September 30,
2014	 	 	June 30,
2014	 	 	March 31,
2014	 	
GAAP Basis ROE	  	 	-11.3%	  	 	 	-10.8%	  	 	 	-2.3%	  	 	 	5.7%	  	 	 	5.5%	 	
Operating ROE (1)	  	 	  -3.7%	  	 	 	  -3.3%	  	 	 	1.9%	  	 	 	5.8%	  	 	 	5.6%	 	
		
 	  	Three months ended	 	
Quarterly Average ROE	  	March 31,
2015	 	 	December 31,
2014	 	 	September 30,
2014	 	 	June 30,
2014	 	 	March 31,
2014	 	
GAAP Basis ROE	  	 	5.8%	  	 	 	-28.0%	  	 	 	-29.0%	  	 	 	5.8%	  	 	 	6.2%	 	
Operating ROE (1)	  	 	5.9%	  	 	 	-15.3%	  	 	 	-10.9%	  	 	 	5.2%	  	 	 	6.5%	 	

Basic and Diluted Shares	  	Three months ended
March 31,
2015	 	
Weighted-average common shares used in basic earnings per common share calculations	  	 	497.0	  	
Potentially dilutive securities:	  				
Stock options, restricted stock units and stock appreciation rights	  	 	1.9	  	
	  	 	 	 	
Weighted-average common shares used in diluted earnings per common share calculations		 	498.9	  	

(1)  	See page 62 herein for a reconciliation of GAAP Basis ROE to Operating ROE.	
 
6

Table of Contents
 
Consolidated Quarterly Results
 
7

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Consolidated Net Income (Loss) by Quarter
(amounts in millions, except per share amounts)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Premiums	  	$	1,323	  	  	$	1,386	  	  	$	1,395	  	  	$	1,343	  	  	$	1,307	  	  	$	5,431	  	
Net investment income	  	 	803	  	  	 	819	  	  	 	805	  	  	 	813	  	  	 	805	  	  	 	3,242	  	
Net investment gains (losses)	  	 	(16	) 	  	 	(10	) 	  	 	(27	) 	  	 	34	  	  	 	(17	) 	  	 	(20	) 	
Insurance and investment product fees and other	  	 	225	  	  	 	229	  	  	 	231	  	  	 	225	  	  	 	227	  	  	 	912	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues		 	2,335	  		 	2,424	  		 	2,404	  		 	2,415	  		 	2,322	  		 	9,565	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	1,243	  		 	2,184	  		 	1,986	  		 	1,256	  		 	1,194	  		 	6,620	  	
Interest credited		 	180	  		 	185	  		 	185	  		 	184	  		 	183	  		 	737	  	
Acquisition and operating expenses, net of deferrals		 	380	  		 	405	  		 	398	  		 	404	  		 	378	  		 	1,585	  	
Amortization of deferred acquisition costs and intangibles		 	121	  		 	156	  		 	143	  		 	138	  		 	134	  		 	571	  	
Goodwill impairment		 	—  	  		 	299	  		 	550	  		 	—  	  		 	—  	  		 	849	  	
Interest expense		 	116	  		 	118	  		 	114	  		 	120	  		 	127	  		 	479	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses		 	2,040	  		 	3,347	  		 	3,376	  		 	2,102	  		 	2,016	  		 	10,841	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	295	  		 	(923	) 		 	(972	) 		 	313	  		 	306	  		 	(1,276	) 	
Provision (benefit) for income taxes		 	91	  		 	(215	) 		 	(185	) 		 	85	  		 	87	  		 	(228	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME (LOSS)		 	204	  		 	(708	) 		 	(787	) 		 	228	  		 	219	  		 	(1,048	) 	
Less: net income attributable to noncontrolling interests		 	50	  		 	52	  		 	57	  		 	52	  		 	35	  		 	196	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		$	154	  		$	(760	) 		$	(844	) 		$	176	  		$	184	  		$	(1,244	) 	

Earnings (Loss) Per Share Data:																									
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per common share									
Basic		$	0.31	  		$	(1.53	) 		$	(1.70	) 		$	0.35	  		$	0.37	  		$	(2.51	) 	
Diluted		$	0.31	  		$	(1.53	) 		$	(1.70	) 		$	0.35	  		$	0.37	  		$	(2.51	) 	
Weighted-average common shares outstanding																									
Basic		 	497.0	  		 	496.7	  		 	496.6	  		 	496.6	  		 	495.8	  		 	496.4	  	
Diluted (1)		 	498.9	  		 	496.7	  		 	496.6	  		 	503.6	  		 	502.7	  		 	496.4	  	

(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 and net loss for the three months ended September 30, 2014 and the three and twelve months ended December 31, 2014, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share for the three months ended September 30, 2014 and the three and twelve months ended December 31, 2014, as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 5.4 million, 3.2 million and 5.6 million, respectively, would have been antidilutive to the calculation. If the company had not incurred a net loss for the three months ended September 30, 2014 and the three and twelve months ended December 31, 2014, dilutive potential weighted-average common shares outstanding would have been 502.0 million, 499.9 million and 502.0 million, respectively.	
 
8

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Net Operating Income (Loss) by Segment by Quarter
(amounts in millions, except per share amounts)

 		2015	 		2014	 	
 		1Q	 		4Q	 		3Q	 		2Q	 		1Q	 		Total	 	
Global Mortgage Insurance Division				 																					
International Mortgage Insurance segment:				 																					
Canada		$	40	  		$	36	  		$	46	  		$	47	  		$	41	  		$	170	  	
Australia (1)		 	30	  		 	33	  		 	48	  		 	57	  		 	62	  		 	200	  	
Other Countries		 	(6	) 		 	(7	) 		 	(7	) 		 	(7	) 		 	(4	) 		 	(25	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total International Mortgage Insurance segment		 	64	  		 	62	  		 	87	  		 	97	  		 	99	  		 	345	  	
U.S. Mortgage Insurance segment		 	52	  		 	21	  		 	(2	) 		 	39	  		 	33	  		 	91	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Global Mortgage Insurance Division		 	116	  		 	83	  		 	85	  		 	136	  		 	132	  		 	436	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
U.S. Life Insurance Division				 																					
U.S. Life Insurance segment:				 																					
Long-Term Care Insurance		 	10	  		 	(506	) 		 	(361	) 		 	6	  		 	46	  		 	(815	) 	
Life Insurance		 	40	  		 	1	  		 	13	  		 	39	  		 	21	  		 	74	  	
Fixed Annuities		 	31	  		 	23	  		 	26	  		 	24	  		 	27	  		 	100	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total U.S. Life Insurance segment		 	81	  		 	(482	) 		 	(322	) 		 	69	  		 	94	  		 	(641	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total U.S. Life Insurance Division		 	81	  		 	(482	) 		 	(322	) 		 	69	  		 	94	  		 	(641	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Corporate and Other Division				 																					
International Protection segment		 	—  	  		 	(4	) 		 	3	  		 	2	  		 	7	  		 	8	  	
Runoff segment		 	11	  		 	16	  		 	5	  		 	15	  		 	12	  		 	48	  	
Corporate and Other		 	(52	) 		 	(29	) 		 	(88	) 		 	(64	) 		 	(51	) 		 	(232	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Corporate and Other Division		 	(41	) 		 	(17	) 		 	(80	) 		 	(47	) 		 	(32	) 		 	(176	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET OPERATING INCOME (LOSS)		 	156	  		 	(416	) 		 	(317	) 		 	158	  		 	194	  		 	(381	) 	
ADJUSTMENTS TO NET OPERATING INCOME (LOSS):				 																					
Net investment gains (losses), net		 	(2	) 		 	(4	) 		 	(10	) 		 	20	  		 	(10	) 		 	(4	) 	
Goodwill impairment, net		 	—  	  		 	(274	) 		 	(517	) 		 	—  	  		 	—  	  		 	(791	) 	
Gains (losses) on early extinguishment of debt, net		 	—  	  		 	—  	  		 	—  	  		 	(2	) 		 	—  	  		 	(2	) 	
Tax impact from potential business portfolio changes		 	—  	  		 	(66	) 		 	—  	  		 	—  	  		 	—  	  		 	(66	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		 	154	  		 	(760	) 		 	(844	) 		 	176	  		 	184	  		 	(1,244	) 	
Add: net income attributable to noncontrolling interests		 	50	  		 	52	  		 	57	  		 	52	  		 	35	  		 	196	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME (LOSS)		$	204	  		$	(708	) 		$	(787	) 		$	228	  		$	219	  		$	(1,048	) 	

Earnings (Loss) Per Share Data:																									
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per common share																									
Basic		$	0.31	  		$	(1.53	) 		$	(1.70	) 		$	0.35	  		$	0.37	  		$	(2.51	) 	
Diluted		$	0.31	  		$	(1.53	) 		$	(1.70	) 		$	0.35	  		$	0.37	  		$	(2.51	) 	
Net operating income (loss) per common share																									
Basic		$	0.31	  		$	(0.84	) 		$	(0.64	) 		$	0.32	  		$	0.39	  		$	(0.77	) 	
Diluted		$	0.31	  		$	(0.84	) 		$	(0.64	) 		$	0.31	  		$	0.39	  		$	(0.77	) 	
Weighted-average common shares outstanding																									
Basic		 	497.0	  		 	496.7	  		 	496.6	  		 	496.6	  		 	495.8	  		 	496.4	  	
Diluted (2)		 	498.9	  		 	496.7	  		 	496.6	  		 	503.6	  		 	502.7	  		 	496.4	  	

(1)  	Adjusted for 33.8% owned by noncontrolling interests after the initial public offering of the Australian mortgage insurance business on May 21, 2014. The following table shows Australia’s net operating income assuming 100% ownership and then adjusts for the portion related to noncontrolling interests.	

 		Three months ended
March 31,	 	
 		    2015    	 		    2014    	 	
Australia’s Net Operating Income		$	51	  		$	62	  	
Less: Net Operating Income Attributable to Noncontrolling Interests		 	21	  		 	—  	  	
	  	 	 	 	  	 	 	 	
Australia’s Net Operating Income Available to Genworth Financial, Inc.’s Common Stockholders		$	30	  		$	62	  	

(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 net loss and net operating loss for the three months ended September 30, 2014 and the three and twelve months ended December 31, 2014, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share for the three months ended September 30, 2014 and the three and twelve months ended December 31, 2014, as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 5.4 million, 3.2 million and 5.6 million, respectively, would have been antidilutive to the calculation. If the company had not incurred a net loss and net operating loss for the three months ended September 30, 2014 and the three and twelve months ended December 31, 2014, dilutive potential weighted-average common shares outstanding would have been 502.0 million, 499.9 million and 502.0 million, respectively.	
 
9

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
 Consolidated Balance Sheets
(amounts in millions)

 	  	March 31,
2015	 	  	December 31,
2014	 	  	September 30,
2014	 	  	June 30,
2014	 	  	March 31,
2014	 	
ASSETS	  			 	  				  				  				  				
Investments:	  			 	  				  				  				  				
Fixed maturity securities available-for-sale, at fair value	  	$	62,942	  	  	$	62,447	  	  	$	62,317	  	  	$	62,360	  	  	$	60,244	  	
Equity securities available-for-sale, at fair value	  	 	306	  	  	 	282	  	  	 	313	  	  	 	320	  	  	 	349	  	
Commercial mortgage loans	  	 	6,149	  	  	 	6,100	  	  	 	6,077	  	  	 	5,986	  	  	 	5,894	  	
Restricted commercial mortgage loans related to securitization entities	  	 	188	  	  	 	201	  	  	 	209	  	  	 	217	  	  	 	227	  	
Policy loans	  	 	1,506	  	  	 	1,501	  	  	 	1,512	  	  	 	1,514	  	  	 	1,438	  	
Other invested assets	  	 	2,723	  	  	 	2,296	  	  	 	2,281	  	  	 	1,963	  	  	 	1,875	  	
Restricted other invested assets related to securitization entities	  	 	411	  	  	 	411	  	  	 	404	  	  	 	404	  	  	 	398	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total investments		 	74,225	  		 	73,238	  		 	73,113	  		 	72,764	  		 	70,425	  	
Cash and cash equivalents		 	5,158	  		 	4,918	  		 	3,477	  		 	4,138	  		 	4,360	  	
Accrued investment income		 	735	  		 	685	  		 	719	  		 	642	  		 	752	  	
Deferred acquisition costs		 	4,918	  		 	5,042	  		 	5,085	  		 	5,085	  		 	5,177	  	
Intangible assets		 	227	  		 	272	  		 	300	  		 	266	  		 	327	  	
Goodwill		 	15	  		 	16	  		 	316	  		 	867	  		 	866	  	
Reinsurance recoverable		 	17,339	  		 	17,346	  		 	17,374	  		 	17,276	  		 	17,234	  	
Other assets		 	650	  		 	633	  		 	710	  		 	695	  		 	691	  	
Separate account assets		 	9,064	  		 	9,208	  		 	9,420	  		 	9,911	  		 	9,933	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total assets		$	112,331	  		$	111,358	  		$	110,514	  		$	111,644	  		$	109,765	  	

10

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Consolidated Balance Sheets
(amounts in millions)

 	  	March 31,
2015	 	  	December 31,
2014	 	 	September 30,
2014	 	 	June 30,
2014	 	 	March 31,
2014	 	
LIABILITIES AND STOCKHOLDERS’ EQUITY	  			 	  				 				 				 				
Liabilities:	  			 	  				 				 				 				
Future policy benefits	  	$	36,488	  	  	$	35,915	  	 	$	34,697	  	 	$	34,497	  	 	$	34,076	  	
Policyholder account balances	  	 	26,146	  	  	 	26,043	  	 	 	25,827	  	 	 	25,834	  	 	 	25,881	  	
Liability for policy and contract claims	  	 	8,030	  	  	 	8,043	  	 	 	7,987	  	 	 	7,223	  	 	 	7,156	  	
Unearned premiums	  	 	3,731	  	  	 	3,986	  	 	 	4,085	  	 	 	4,191	  	 	 	4,075	  	
Other liabilities	  	 	3,899	  	  	 	3,604	  	 	 	3,605	  	 	 	3,702	  	 	 	3,777	  	
Borrowings related to securitization entities	  	 	205	  	  	 	219	  	 	 	225	  	 	 	233	  	 	 	239	  	
Non-recourse funding obligations	  	 	1,983	  	  	 	1,996	  	 	 	2,010	  	 	 	2,024	  	 	 	2,030	  	
Long-term borrowings	  	 	4,601	  	  	 	4,639	  	 	 	4,662	  	 	 	4,691	  	 	 	5,150	  	
Deferred tax liability	  	 	1,103	  	  	 	908	  	 	 	875	  	 	 	1,074	  	 	 	714	  	
Separate account liabilities	  	 	9,064	  	  	 	9,208	  	 	 	9,420	  	 	 	9,911	  	 	 	9,933	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities		 	95,250	  		 	94,561	  		 	93,393	  		 	93,380	  		 	93,031	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Stockholders’ equity:				 																	
Common stock		 	1	  		 	1	  		 	1	  		 	1	  		 	1	  	
Additional paid-in capital		 	11,998	  		 	11,997	  		 	11,991	  		 	11,986	  		 	12,124	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Accumulated other comprehensive income (loss):				 																	
Net unrealized investment gains (losses):				 																	
Net unrealized gains (losses) on securities not other-than-temporarily impaired		 	2,724	  		 	2,431	  		 	2,047	  		 	2,109	  		 	1,606	  	
Net unrealized gains (losses) on other-than-temporarily impaired securities		 	24	  		 	22	  		 	20	  		 	19	  		 	18	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net unrealized investment gains (losses)		 	2,748	  		 	2,453	  		 	2,067	  		 	2,128	  		 	1,624	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Derivatives qualifying as hedges		 	2,247	  		 	2,070	  		 	1,753	  		 	1,652	  		 	1,538	  	
Foreign currency translation and other adjustments		 	(303	) 		 	(77	) 		 	114	  		 	381	  		 	321	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total accumulated other comprehensive income		 	4,692	  		 	4,446	  		 	3,934	  		 	4,161	  		 	3,483	  	
Retained earnings		 	1,333	  		 	1,179	  		 	1,939	  		 	2,783	  		 	2,607	  	
Treasury stock, at cost		 	(2,700	) 		 	(2,700	) 		 	(2,700	) 		 	(2,700	) 		 	(2,700	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity		 	15,324	  		 	14,923	  		 	15,165	  		 	16,231	  		 	15,515	  	
Noncontrolling interests		 	1,757	  		 	1,874	  		 	1,956	  		 	2,033	  		 	1,219	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total stockholders’ equity		 	17,081	  		 	16,797	  		 	17,121	  		 	18,264	  		 	16,734	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and stockholders’ equity		$	112,331	  		$	111,358	  		$	110,514	  		$	111,644	  		$	109,765	  	

 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
 Consolidated Balance Sheet by Segment
(amounts in millions)

 	  	March 31, 2015	 	
 	  	International
Mortgage
Insurance	 	  	U.S. Mortgage
Insurance	 	 	U.S. Life
Insurance	 	  	International
Protection	 	 	Runoff	 	 	Corporate and
Other (1) 	 	 	Total	 	
ASSETS	  				  				 				  				 				 				 				
Cash and investments	  	$	7,918	  	  	$	2,292	  	 	$	62,974	  	  	$	1,288	  	 	$	2,681	  	 	$	2,965	  	 	$	80,118	  	
Deferred acquisition costs and intangible assets	  	 	167	  	  	 	23	  	 	 	4,462	  	  	 	193	  	 	 	304	  	 	 	11	  	 	 	5,160	  	
Reinsurance recoverable	  	 	20	  	  	 	15	  	 	 	16,427	  	  	 	34	  	 	 	843	  	 	 	—  	  	 	 	17,339	  	
Deferred tax and other assets	  	 	93	  	  	 	37	  	 	 	346	  	  	 	142	  	 	 	(8	) 	 	 	40	  	 	 	650	  	
Separate account assets	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	9,064	  	 	 	—  	  	 	 	9,064	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total assets		$	8,198	  		$	2,367	  		$	84,209	  		$	1,657	  		$	12,884	  		$	3,016	  		$	112,331	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LIABILITIES AND STOCKHOLDERS’ EQUITY																													
Liabilities:																													
Future policy benefits		$	—  	  		$	—  	  		$	36,484	  		$	—  	  		$	4	  		$	—  	  		$	36,488	  	
Policyholder account balances		 	—  	  		 	—  	  		 	22,941	  		 	10	  		 	3,195	  		 	—  	  		 	26,146	  	
Liability for policy and contract claims		 	296	  		 	1,087	  		 	6,531	  		 	101	  		 	15	  		 	—  	  		 	8,030	  	
Unearned premiums		 	2,502	  		 	198	  		 	614	  		 	410	  		 	7	  		 	—  	  		 	3,731	  	
Non-recourse funding obligations		 	—  	  		 	—  	  		 	2,013	  		 	—  	  		 	—  	  		 	(30	) 		 	1,983	  	
Deferred tax and other liabilities		 	315	  		 	(680	) 		 	4,329	  		 	378	  		 	(209	) 		 	869	  		 	5,002	  	
Borrowings and capital securities		 	450	  		 	—  	  		 	—  	  		 	—  	  		 	12	  		 	4,344	  		 	4,806	  	
Separate account liabilities		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	9,064	  		 	—  	  		 	9,064	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities		 	3,563	  		 	605	  		 	72,912	  		 	899	  		 	12,088	  		 	5,183	  		 	95,250	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Stockholders’ equity:																													
Allocated equity, excluding accumulated other comprehensive income (loss)		 	2,854	  		 	1,737	  		 	6,567	  		 	800	  		 	811	  		 	(2,137	) 		 	10,632	  	
Allocated accumulated other comprehensive income (loss)		 	24	  		 	25	  		 	4,730	  		 	(42	) 		 	(15	) 		 	(30	) 		 	4,692	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity		 	2,878	  		 	1,762	  		 	11,297	  		 	758	  		 	796	  		 	(2,167	) 		 	15,324	  	
Noncontrolling interests		 	1,757	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	1,757	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total stockholders’ equity		 	4,635	  		 	1,762	  		 	11,297	  		 	758	  		 	796	  		 	(2,167	) 		 	17,081	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and stockholders’ equity		$	8,198	  		$	2,367	  		$	84,209	  		$	1,657	  		$	12,884	  		$	3,016	  		$	112,331	  	

(1)  	Includes inter-segment eliminations.	
 
12

Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
Consolidated Balance Sheet by Segment
(amounts in millions)

 	  	December 31, 2014	 	
 	  	International
Mortgage
Insurance	 	  	U.S. Mortgage
Insurance	 	 	U.S. Life
Insurance	 	  	International
Protection	 	  	Runoff	 	 	Corporate and
Other (1) 	 	 	Total	 	
ASSETS	  				  				 				  				  				 				 				
Cash and investments	  	$	8,540	  	  	$	2,240	  	 	$	61,555	  	  	$	1,455	  	  	$	2,602	  	 	$	2,449	  	 	$	78,841	  	
Deferred acquisition costs and intangible assets	  	 	179	  	  	 	24	  	 	 	4,589	  	  	 	215	  	  	 	311	  	 	 	12	  	 	 	5,330	  	
Reinsurance recoverable	  	 	23	  	  	 	27	  	 	 	16,408	  	  	 	32	  	  	 	856	  	 	 	—  	  	 	 	17,346	  	
Deferred tax and other assets	  	 	73	  	  	 	33	  	 	 	354	  	  	 	131	  	  	 	(6	) 	 	 	48	  	 	 	633	  	
Separate account assets	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	  	 	9,208	  	 	 	—  	  	 	 	9,208	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total assets		$	8,815	  		$	2,324	  		$	82,906	  		$	1,833	  		$	12,971	  		$	2,509	  		$	111,358	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
LIABILITIES AND STOCKHOLDERS’ EQUITY																													
Liabilities:																													
Future policy benefits		$	—  	  		$	—  	  		$	35,911	  		$	—  	  		$	4	  		$	—  	  		$	35,915	  	
Policyholder account balances		 	—  	  		 	—  	  		 	22,874	  		 	11	  		 	3,158	  		 	—  	  		 	26,043	  	
Liability for policy and contract claims		 	308	  		 	1,180	  		 	6,434	  		 	106	  		 	15	  		 	—  	  		 	8,043	  	
Unearned premiums		 	2,723	  		 	178	  		 	639	  		 	439	  		 	7	  		 	—  	  		 	3,986	  	
Non-recourse funding obligations		 	—  	  		 	—  	  		 	2,026	  		 	—  	  		 	—  	  		 	(30	) 		 	1,996	  	
Deferred tax and other liabilities		 	375	  		 	(719	) 		 	4,047	  		 	460	  		 	(208	) 		 	557	  		 	4,512	  	
Borrowings and capital securities		 	488	  		 	—  	  		 	—  	  		 	—  	  		 	13	  		 	4,357	  		 	4,858	  	
Separate account liabilities		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	9,208	  		 	—  	  		 	9,208	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities		 	3,894	  		 	639	  		 	71,931	  		 	1,016	  		 	12,197	  		 	4,884	  		 	94,561	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Stockholders’ equity:																													
Allocated equity, excluding accumulated other comprehensive income (loss)		 	2,888	  		 	1,666	  		 	6,668	  		 	815	  		 	793	  		 	(2,353	) 		 	10,477	  	
Allocated accumulated other comprehensive income (loss)		 	159	  		 	19	  		 	4,307	  		 	2	  		 	(19	) 		 	(22	) 		 	4,446	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total Genworth Financial, Inc.’s stockholders’ equity		 	3,047	  		 	1,685	  		 	10,975	  		 	817	  		 	774	  		 	(2,375	) 		 	14,923	  	
Noncontrolling interests		 	1,874	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	1,874	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total stockholders’ equity		 	4,921	  		 	1,685	  		 	10,975	  		 	817	  		 	774	  		 	(2,375	) 		 	16,797	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	
Total liabilities and stockholders’ equity		$	8,815	  		$	2,324	  		$	82,906	  		$	1,833	  		$	12,971	  		$	2,509	  		$	111,358	  	

(1)  	Includes inter-segment eliminations.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Deferred Acquisition Costs Rollforward
(amounts in millions)

 	  	International
Mortgage
Insurance	 	 	U.S. Mortgage
Insurance	 	 	U.S. Life
Insurance (1) 	 	 	International
Protection	 	 	Runoff (2) 	 	 	Corporate and
Other	 	  	Total	 	
Unamortized balance as of December 31, 2014	  	$	150	  	 	$	16	  	 	$	4,732	  	 	$	193	  	 	$	299	  	 	$	—  	  	  	$	5,390	  	
Costs deferred	  	 	16	  	 	 	2	  	 	 	68	  	 	 	24	  	 	 	—  	  	 	 	—  	  	  	 	110	  	
Amortization, net of interest accretion	  	 	(13	) 	 	 	(1	) 	 	 	(62	) 	 	 	(25	) 	 	 	(4	) 	 	 	—  	  	  	 	(105	) 	
Impact of foreign currency translation	  	 	(12	) 	 	 	—  	  	 	 	—  	  	 	 	(19	) 	 	 	—  	  	 	 	—  	  	  	 	(31	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Unamortized balance as of March 31, 2015		 	141	  		 	17	  		 	4,738	  		 	173	  		 	295	  		 	—  	  		 	5,364	  	
Effect of accumulated net unrealized investment (gains) losses		 	—  	  		 	—  	  		 	(438	) 		 	—  	  		 	(8	) 		 	—  	  		 	(446	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	  	 	 	 	
Balance as of March 31, 2015		$	141	  		$	17	  		$	4,300	  		$	173	  		$	287	  		$	—  	  		$	4,918	  	

(1)  	Amortization, net of interest accretion, included $2 million of amortization related to net investment gains for the policyholder account balances.	
(2)  	Amortization, net of interest accretion, included $5 million of amortization related to net investment gains for the policyholder account balances.	
 
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Global Mortgage Insurance Division

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Net Operating Income—Global Mortgage Insurance Division
(amounts in millions)

 	 	2015	 	 	2014	 	
 	 	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	 			 	 				 				 				 				 				
Premiums	 	$	365	  	 	$	387	  	 	$	388	  	 	$	381	  	 	$	372	  	 	$	1,528	  	
Net investment income	 	 	85	  	 	 	87	  	 	 	97	  	 	 	86	  	 	 	92	  	 	 	362	  	
Net investment gains (losses)	 	 	(17	) 	 	 	(4	) 	 	 	(4	) 	 	 	12	  	 	 	(3	) 	 	 	1	  	
Insurance and investment product fees and other	 	 	(2	) 	 	 	(4	) 	 	 	(7	) 	 	 	(3	) 	 	 	2	  	 	 	(12	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	431	  		 	466	  		 	474	  		 	476	  		 	463	  		 	1,879	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	94	  		 	145	  		 	199	  		 	107	  		 	110	  		 	561	  	
Acquisition and operating expenses, net of deferrals		 	79	  		 	101	  		 	87	  		 	93	  		 	82	  		 	363	  	
Amortization of deferred acquisition costs and intangibles		 	16	  		 	16	  		 	16	  		 	17	  		 	17	  		 	66	  	
Interest expense		 	7	  		 	7	  		 	8	  		 	8	  		 	8	  		 	31	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	196	  		 	269	  		 	310	  		 	225	  		 	217	  		 	1,021	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME BEFORE INCOME TAXES		 	235	  		 	197	  		 	164	  		 	251	  		 	246	  		 	858	  	
Provision for income taxes		 	75	  		 	237	  		 	24	  		 	61	  		 	80	  		 	402	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	160	  		 	(40	) 		 	140	  		 	190	  		 	166	  		 	456	  	
Less: net income attributable to noncontrolling interests		 	50	  		 	52	  		 	57	  		 	52	  		 	35	  		 	196	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		 	110	  		 	(92	) 		 	83	  		 	138	  		 	131	  		 	260	  	
ADJUSTMENTS TO NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:				 																					
Net investment (gains) losses, net		 	6	  		 	1	  		 	2	  		 	(4	) 		 	1	  		 	—  	  	
(Gains) losses on early extinguishment of debt, net		 	—  	  		 	—  	  		 	—  	  		 	2	  		 	—  	  		 	2	  	
Tax impact from potential business portfolio changes		 	—  	  		 	174	  		 	—  	  		 	—  	  		 	—  	  		 	174	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (1)		$	116	  		$	83	  		$	85	  		$	136	  		$	132	  		$	436	  	

Effective tax rate (operating income) (2)		 	33.9	% 		 	34.0	% 		 	11.3	% 		 	23.3	% 		 	33.9	% 		 	27.2	% 	

(1)  	Net operating income adjusted for foreign exchange as compared to the prior year period for the Global Mortgage Insurance Division was $124 million for the three months ended March 31, 2015.	
(2)  	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 2015
 
Net Operating Income (Loss)—Global Mortgage Insurance Division
(amounts in millions)

 		International Mortgage Insurance Segment	 		 	 		 	 	
Three months ended March 31, 2015		Canada	 		Australia	 		Other
Countries	 		Total International
Mortgage Insurance
Segment	 		U.S. Mortgage
Insurance
Segment	 		Total	 	
REVENUES:																								 	
Premiums		$	119	  		$	89	  		$	7	  		$	215	  		$	150	  		$	365	  	
Net investment income		 	34	  		 	32	  		 	—  	  		 	66	  		 	19	  		 	85	  	
Net investment gains (losses)		 	(18	) 		 	1	  		 	—  	  		 	(17	) 		 	—  	  		 	(17	) 	
Insurance and investment product fees and other		 	1	  		 	(4	) 		 	—  	  		 	(3	) 		 	1	  		 	(2	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	136	  		 	118	  		 	7	  		 	261	  		 	170	  		 	431	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:																								 	
Benefits and other changes in policy reserves		 	25	  		 	14	  		 	5	  		 	44	  		 	50	  		 	94	  	
Acquisition and operating expenses, net of deferrals		 	12	  		 	22	  		 	8	  		 	42	  		 	37	  		 	79	  	
Amortization of deferred acquisition costs and intangibles		 	9	  		 	5	  		 	—  	  		 	14	  		 	2	  		 	16	  	
Interest expense		 	5	  		 	2	  		 	—  	  		 	7	  		 	—  	  		 	7	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	51	  		 	43	  		 	13	  		 	107	  		 	89	  		 	196	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	85	  		 	75	  		 	(6	) 		 	154	  		 	81	  		 	235	  	
Provision for income taxes		 	22	  		 	24	  		 	—  	  		 	46	  		 	29	  		 	75	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	63	  		 	51	  		 	(6	) 		 	108	  		 	52	  		 	160	  	
Less: net income attributable to noncontrolling interests		 	29	  		 	21	  		 	—  	  		 	50	  		 	—  	  		 	50	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		 	34	  		 	30	  		 	(6	) 		 	58	  		 	52	  		 	110	  	
						 	
ADJUSTMENT TO NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:																								 	
Net investment (gains) losses, net		 	6	  		 	—  	  		 	—  	  		 	6	  		 	—  	  		 	6	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)		$	40	  		$	30	  		$	(6	) 		$	64	  		$	52	  		$	116	  	

Effective tax rate (operating income (loss))		 	28.1	%		 	33.6	% 		 	4.9	%		 	32.3	% 		 	35.7	%		 	33.9	% 	
				
 		International Mortgage Insurance Segment	 		 	 		 	 	
Three months ended March 31, 2014		Canada	 		Australia	 		Other
Countries	 		Total International
Mortgage Insurance
Segment	 		U.S. Mortgage
Insurance
Segment	 		Total	 	
REVENUES:																								 	
Premiums		$	130	  		$	97	  		$	8	  		$	235	  		$	137	  		$	372	  	
Net investment income		 	39	  		 	34	  		 	1	  		 	74	  		 	18	  		 	92	  	
Net investment gains (losses)		 	(3	) 		 	—  	  		 	—  	  		 	(3	) 		 	—  	  		 	(3	) 	
Insurance and investment product fees and other		 	2	  		 	—  	  		 	—  	  		 	2	  		 	—  	  		 	2	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	168	  		 	131	  		 	9	  		 	308	  		 	155	  		 	463	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:																								 	
Benefits and other changes in policy reserves		 	26	  		 	17	  		 	4	  		 	47	  		 	63	  		 	110	  	
Acquisition and operating expenses, net of deferrals		 	21	  		 	19	  		 	9	  		 	49	  		 	33	  		 	82	  	
Amortization of deferred acquisition costs and intangibles		 	10	  		 	5	  		 	—  	  		 	15	  		 	2	  		 	17	  	
Interest expense		 	5	  		 	3	  		 	—  	  		 	8	  		 	—  	  		 	8	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	62	  		 	44	  		 	13	  		 	119	  		 	98	  		 	217	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	106	  		 	87	  		 	(4	) 		 	189	  		 	57	  		 	246	  	
Provision for income taxes		 	31	  		 	25	  		 	—  	  		 	56	  		 	24	  		 	80	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	75	  		 	62	  		 	(4	) 		 	133	  		 	33	  		 	166	  	
Less: net income attributable to noncontrolling interests		 	35	  		 	—  	  		 	—  	  		 	35	  		 	—  	  		 	35	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		 	40	  		 	62	  		 	(4	) 		 	98	  		 	33	  		 	131	  	
						 	
ADJUSTMENT TO NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:																								 	
Net investment (gains) losses, net		 	1	  		 	—  	  		 	—  	  		 	1	  		 	—  	  		 	1	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)		$	41	  		$	62	  		$	(4	) 		$	99	  		$	33	  		$	132	  	

Effective tax rate (operating income (loss))		 	31.6	% 		 	29.0	% 		 	10.3	% 		 	30.7	% 		 	42.0	% 		 	33.9	% 	
 
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International Mortgage Insurance Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Income—International Mortgage Insurance Segment
(amounts in millions)

 	 	2015	 	 	2014	 	
 	 	1Q	 	 	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	 			 	 				 				 				 				 				
Premiums	 	$	215	  	 	$	236	  	 	$	242	  	 	$	237	  	 	$	235	  	 	$	950	  	
Net investment income	 	 	66	  	 	 	76	  	 	 	78	  	 	 	75	  	 	 	74	  	 	 	303	  	
Net investment gains (losses)	 	 	(17	) 	 	 	(4	) 	 	 	(4	) 	 	 	12	  	 	 	(3	) 	 	 	1	  	
Insurance and investment product fees and other	 	 	(3	) 	 	 	(5	) 	 	 	(7	) 	 	 	(4	) 	 	 	2	  	 	 	(14	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	261	  		 	303	  		 	309	  		 	320	  		 	308	  		 	1,240	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	44	  		 	54	  		 	58	  		 	45	  		 	47	  		 	204	  	
Acquisition and operating expenses, net of deferrals		 	42	  		 	63	  		 	52	  		 	59	  		 	49	  		 	223	  	
Amortization of deferred acquisition costs and intangibles		 	14	  		 	14	  		 	15	  		 	15	  		 	15	  		 	59	  	
Interest expense		 	7	  		 	7	  		 	8	  		 	8	  		 	8	  		 	31	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	107	  		 	138	  		 	133	  		 	127	  		 	119	  		 	517	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME BEFORE INCOME TAXES		 	154	  		 	165	  		 	176	  		 	193	  		 	189	  		 	723	  	
Provision for income taxes		 	46	  		 	226	  		 	34	  		 	42	  		 	56	  		 	358	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	108	  		 	(61	) 		 	142	  		 	151	  		 	133	  		 	365	  	
Less: net income attributable to noncontrolling interests		 	50	  		 	52	  		 	57	  		 	52	  		 	35	  		 	196	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		 	58	  		 	(113	) 		 	85	  		 	99	  		 	98	  		 	169	  	
	 						
ADJUSTMENTS TO NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:				 																					
Net investment (gains) losses, net		 	6	  		 	1	  		 	2	  		 	(4	) 		 	1	  		 	—  	  	
(Gains) losses on early extinguishment of debt, net		 	—  	  		 	—  	  		 	—  	  		 	2	  		 	—  	  		 	2	  	
Tax impact from potential business portfolio changes		 	—  	  		 	174	  		 	—  	  		 	—  	  		 	—  	  		 	174	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (1)		$	64	  		$	62	  		$	87	  		$	97	  		$	99	  		$	345	  	

Effective tax rate (operating income)		 	32.3	% 		 	34.5	% 		 	19.0	% 		 	18.8	% 		 	30.7	% 		 	25.7	% 	

(1)  	Net operating income adjusted for foreign exchange as compared to the prior year period for the International Mortgage Insurance segment was $72 million for the three months ended March 31, 2015.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015

Net Operating Income and Sales—International Mortgage Insurance Segment—Canada
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Premiums	  	$	119	  	  	$	127	  	  	$	130	  	  	$	128	  	  	$	130	  	  	$	515	  	
Net investment income	  	 	34	  	  	 	38	  	  	 	39	  	  	 	39	  	  	 	39	  	  	 	155	  	
Net investment gains (losses)	  	 	(18	) 	  	 	(7	) 	  	 	(4	) 	  	 	12	  	  	 	(3	) 	  	 	(2	) 	
Insurance and investment product fees and other	  	 	1	  	  	 	—  	  	  	 	(2	) 	  	 	1	  	  	 	2	  	  	 	1	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues		 	136	  		 	158	  		 	163	  		 	180	  		 	168	  		 	669	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	25	  		 	33	  		 	28	  		 	15	  		 	26	  		 	102	  	
Acquisition and operating expenses, net of deferrals		 	12	  		 	23	  		 	18	  		 	28	  		 	21	  		 	90	  	
Amortization of deferred acquisition costs and intangibles		 	9	  		 	9	  		 	10	  		 	9	  		 	10	  		 	38	  	
Interest expense		 	5	  		 	5	  		 	5	  		 	6	  		 	5	  		 	21	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses		 	51	  		 	70	  		 	61	  		 	58	  		 	62	  		 	251	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME BEFORE INCOME TAXES		 	85	  		 	88	  		 	102	  		 	122	  		 	106	  		 	418	  	
Provision for income taxes		 	22	  		 	24	  		 	24	  		 	32	  		 	31	  		 	111	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME		 	63	  		 	64	  		 	78	  		 	90	  		 	75	  		 	307	  	
Less: net income attributable to noncontrolling interests		 	29	  		 	30	  		 	34	  		 	41	  		 	35	  		 	140	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		 	34	  		 	34	  		 	44	  		 	49	  		 	40	  		 	167	  	
	 						
ADJUSTMENTS TO NET INCOME AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:				 																					
Net investment (gains) losses, net		 	6	  		 	2	  		 	2	  		 	(4	) 		 	1	  		 	1	  	
(Gains) losses on early extinguishment of debt, net		 	—  	  		 	—  	  		 	—  	  		 	2	  		 	—  	  		 	2	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET OPERATING INCOME (1)		$	40	  		$	36	  		$	46	  		$	47	  		$	41	  		$	170	  	

Effective tax rate (operating income)		 	28.1	% 		 	29.4	% 		 	21.2	% 		 	26.3	% 		 	31.6	% 		 	27.1	% 	
							
SALES:																									
New Insurance Written (NIW)																									
Flow		$	3,300	  		$	5,500	  		$	6,800	  		$	5,000	  		$	2,900	  		$	20,200	  	
Bulk		 	5,000	  		 	2,300	  		 	5,600	  		 	7,500	  		 	2,900	  		 	18,300	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Canada NIW (2)		$	8,300	  		$	7,800	  		$	12,400	  		$	12,500	  		$	5,800	  		$	38,500	  	

 

(1)  	Net operating income for the Canadian platform adjusted for foreign exchange as compared to the prior year period was $44 million for the three months ended March 31, 2015.	
(2)  	New insurance written for the Canadian platform adjusted for foreign exchange as compared to the prior year period was $9,100 million for the three months ended March 31, 2015.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Income and Sales—International Mortgage Insurance Segment—Australia
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	89	  	  	$	102	  	 	$	105	  	 	$	102	  	 	$	97	  	 	$	406	  	
Net investment income	  	 	32	  	  	 	36	  	 	 	38	  	 	 	36	  	 	 	34	  	 	 	144	  	
Net investment gains (losses)	  	 	1	  	  	 	3	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	3	  	
Insurance and investment product fees and other	  	 	(4	) 	  	 	(5	) 	 	 	(7	) 	 	 	(4	) 	 	 	—  	  	 	 	(16	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	118	  		 	136	  		 	136	  		 	134	  		 	131	  		 	537	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	14	  		 	15	  		 	22	  		 	24	  		 	17	  		 	78	  	
Acquisition and operating expenses, net of deferrals		 	22	  		 	30	  		 	25	  		 	23	  		 	19	  		 	97	  	
Amortization of deferred acquisition costs and intangibles		 	5	  		 	5	  		 	5	  		 	6	  		 	5	  		 	21	  	
Interest expense		 	2	  		 	2	  		 	3	  		 	2	  		 	3	  		 	10	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	43	  		 	52	  		 	55	  		 	55	  		 	44	  		 	206	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME BEFORE INCOME TAXES		 	75	  		 	84	  		 	81	  		 	79	  		 	87	  		 	331	  	
Provision for income taxes		 	24	  		 	202	  		 	10	  		 	11	  		 	25	  		 	248	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	51	  		 	(118	) 		 	71	  		 	68	  		 	62	  		 	83	  	
Less: net income attributable to noncontrolling interests		 	21	  		 	22	  		 	23	  		 	11	  		 	—  	  		 	56	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		 	30	  		 	(140	) 		 	48	  		 	57	  		 	62	  		 	27	  	
	 						
ADJUSTMENTS TO NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:				 																					
Net investment (gains) losses, net		 	—  	  		 	(1	) 		 	—  	  		 	—  	  		 	—  	  		 	(1	) 	
Tax impact from potential business portfolio changes		 	—  	  		 	174	  		 	—  	  		 	—  	  		 	—  	  		 	174	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (1)		$	30	  		$	33	  		$	48	  		$	57	  		$	62	  		$	200	  	

Effective tax rate (operating income)		 	33.6	% 		 	34.8	% 		 	14.2	% 		 	10.4	% 		 	29.0	% 		 	22.3	% 	
							
SALES:																									
New Insurance Written (NIW)																									
Flow		$	5,800	  		$	8,000	  		$	8,100	  		$	7,900	  		$	7,800	  		$	31,800	  	
Bulk		 	—  	  		 	100	  		 	1,000	  		 	—  	  		 	—  	  		 	1,100	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Australia NIW (2)		$	5,800	  		$	8,100	  		$	9,100	  		$	7,900	  		$	7,800	  		$	32,900	  	

 

(1)  	Net operating income for the Australian platform adjusted for foreign exchange as compared to the prior year period was $34 million for the three months ended March 31, 2015.	
(2)  	New insurance written for the Australian platform adjusted for foreign exchange as compared to the prior year period was $6,500 million for the three months ended March 31, 2015.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Loss and Sales—International Mortgage Insurance Segment—Other Countries
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Premiums	  	$	7	  	  	$	7	  	  	$	7	  	  	$	7	  	  	$	8	  	  	$	29	  	
Net investment income	  	 	—  	  	  	 	2	  	  	 	1	  	  	 	—  	  	  	 	1	  	  	 	4	  	
Net investment gains (losses)	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	
Insurance and investment product fees and other	  	 	—  	  	  	 	—  	  	  	 	2	  	  	 	(1	) 	  	 	—  	  	  	 	1	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues		 	7	  		 	9	  		 	10	  		 	6	  		 	9	  		 	34	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	5	  		 	6	  		 	8	  		 	6	  		 	4	  		 	24	  	
Acquisition and operating expenses, net of deferrals		 	8	  		 	10	  		 	9	  		 	8	  		 	9	  		 	36	  	
Amortization of deferred acquisition costs and intangibles		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
Interest expense		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses		 	13	  		 	16	  		 	17	  		 	14	  		 	13	  		 	60	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
LOSS BEFORE INCOME TAXES		 	(6	) 		 	(7	) 		 	(7	) 		 	(8	) 		 	(4	) 		 	(26	) 	
Provision (benefit) for income taxes		 	—  	  		 	—  	  		 	—  	  		 	(1	) 		 	—  	  		 	(1	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET LOSS		 	(6	) 		 	(7	) 		 	(7	) 		 	(7	) 		 	(4	) 		 	(25	) 	
Less: net income attributable to noncontrolling interests		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET LOSS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		 	(6	) 		 	(7	) 		 	(7	) 		 	(7	) 		 	(4	) 		 	(25	) 	
	 						
ADJUSTMENT TO NET LOSS AVAILABLE TO GENWORTH FINANCIAL, INC.’S
COMMON STOCKHOLDERS:				 																					
Net investment (gains) losses, net		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET OPERATING LOSS (1)		$	(6	) 		$	(7	) 		$	(7	) 		$	(7	) 		$	(4	) 		$	(25	) 	

Effective tax rate (operating loss)		 	4.9	% 		 	-4.2	% 		 	-2.2	% 		 	11.3	% 		 	10.3	% 		 	3.8	% 	
							
SALES:																									
New Insurance Written (NIW)																									
Flow		$	400	  		$	500	  		$	400	  		$	500	  		$	400	  		$	1,800	  	
Bulk		 	200	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Other Countries NIW (2)		$	600	  		$	500	  		$	400	  		$	500	  		$	400	  		$	1,800	  	

 

(1)  	Net operating loss for the Other Countries platform adjusted for foreign exchange as compared to the prior year period was $6 million for the three months ended March 31, 2015.	
(2)  	New insurance written for the Other Countries platform adjusted for foreign exchange as compared to the prior year period was $700 million for the three months ended March 31, 2015.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Selected Key Performance Measures—International Mortgage Insurance Segment
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net Premiums Written	  			 	  				 				 				 				 				
Canada	  	$	109	  	  	$	160	  	 	$	200	  	 	$	146	  	 	$	77	  	 	$	583	  	
Australia	  	 	87	  	  	 	128	  	 	 	130	  	 	 	125	  	 	 	126	  	 	 	509	  	
Other Countries (1)	  	 	6	  	  	 	6	  	 	 	6	  	 	 	1	  	 	 	6	  	 	 	19	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Net Premiums Written		$	202	  		$	294	  		$	336	  		$	272	  		$	209	  		$	1,111	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Loss Ratio (2)				 																					
Canada		 	22	% 		 	26	% 		 	21	% 		 	12	% 		 	20	% 		 	20	% 	
Australia (3)		 	15	% 		 	15	% 		 	21	% 		 	23	% 		 	17	% 		 	19	% 	
Other Countries		 	81	% 		 	84	% 		 	105	% 		 	90	% 		 	55	% 		 	83	% 	
Total Loss Ratio		 	21	% 		 	23	% 		 	24	% 		 	19	% 		 	20	% 		 	21	% 	
	 						
GAAP Basis Expense Ratio (4)				 																					
Canada (5)		 	18	% 		 	26	% 		 	22	% 		 	29	% 		 	23	% 		 	25	% 	
Australia		 	30	% 		 	34	% 		 	28	% 		 	28	% 		 	25	% 		 	29	% 	
Other Countries (1)		 	125	% 		 	115	% 		 	126	% 		 	131	% 		 	107	% 		 	120	% 	
Total GAAP Basis Expense Ratio		 	26	% 		 	32	% 		 	28	% 		 	32	% 		 	27	% 		 	30	% 	
	 						
Adjusted Expense Ratio (6)				 																					
Canada (7)		 	20	% 		 	20	% 		 	14	% 		 	26	% 		 	39	% 		 	22	% 	
Australia		 	31	% 		 	27	% 		 	23	% 		 	23	% 		 	20	% 		 	23	% 	
Other Countries (1)		 	132	% 		 	132	% 		 	150	% 		 	NM	(8)  		 	142	% 		 	186	% 	
Total Adjusted Expense Ratio		 	28	% 		 	26	% 		 	20	% 		 	28	% 		 	30	% 		 	25	% 	
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.

(1)  	Includes the impact of settlements and cancelled insurance contracts, primarily with lenders in Europe. Primary flow risk in-force excludes $271 million, $296 million, $290 million, $298 million and $282 million of risk in-force in Europe ceded under quota share reinsurance agreements as of March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively.	
(2)  	The ratio of incurred losses and loss adjustment expense to net earned premiums.	
(3)  	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 points.	
(4)  	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.	
(5)  	Excluding the impact of debt early redemption payment of $6 million in the second quarter of 2014, the GAAP basis expense ratio was 24% for both the three months ended June 30, 2014 and the twelve months ended December 31, 2014.	
(6)  	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.	
(7)  	Excluding the impact of debt early redemption payment of $6 million in the second quarter of 2014, the adjusted expense ratio was 21% for both the three months ended June 30, 2014 and the twelve months ended December 31, 2014.	
(8)  	“NM” is defined as not meaningful for percentages greater than 200%.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Selected Key Performance Measures—International Mortgage Insurance Segment
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	
Primary Insurance In-Force	  			 	  				  				  				  				
Canada (1)	  	$	288,800	  	  	$	306,600	  	  	$	310,800	  	  	$	314,500	  	  	$	291,900	  	
Australia	  	 	240,900	  	  	 	256,000	  	  	 	271,100	  	  	 	288,500	  	  	 	281,000	  	
Other Countries	  	 	19,800	  	  	 	21,900	  	  	 	23,900	  	  	 	26,000	  	  	 	26,200	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Primary Insurance In-Force		$	549,500	  		$	584,500	  		$	605,800	  		$	629,000	  		$	599,100	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Primary Risk In-Force (2)				 																	
Canada				 																	
Flow		$	75,700	  		$	81,300	  		$	82,600	  		$	84,500	  		$	80,100	  	
Bulk		 	25,400	  		 	26,000	  		 	26,200	  		 	25,600	  		 	22,100	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Canada		 	101,100	  		 	107,300	  		 	108,800	  		 	110,100	  		 	102,200	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Australia				 																	
Flow		 	78,600	  		 	83,400	  		 	88,100	  		 	93,800	  		 	91,100	  	
Bulk		 	5,700	  		 	6,200	  		 	6,800	  		 	7,200	  		 	7,200	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Australia		 	84,300	  		 	89,600	  		 	94,900	  		 	101,000	  		 	98,300	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Other Countries				 																	
Flow (3),(4)		 	2,000	  		 	2,200	  		 	3,000	  		 	3,200	  		 	3,300	  	
Bulk		 	300	  		 	300	  		 	300	  		 	400	  		 	400	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Other Countries		 	2,300	  		 	2,500	  		 	3,300	  		 	3,600	  		 	3,700	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Primary Risk In-Force		$	187,700	  		$	199,400	  		$	207,000	  		$	214,700	  		$	204,200	  	

 

(1)  	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. As a result, the company estimates that the outstanding balance of insured mortgages was approximately $145.0 billion as of December 31, 2014, $148.0 billion as of September 30, 2014, $152.0 billion as of June 30, 2014 and $141.0 billion as of March 31, 2014. This is based on the extrapolation of the amounts reported by lenders to the entire insured population.	
(2)  	The businesses in Australia and Canada currently provide 100% coverage on the majority of the loans the company insures in those markets. For the purpose of representing the risk in-force, the company has computed an “effective risk in-force” amount which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in-force has been calculated by applying to insurance in-force a factor that represents the highest expected average per-claim payment for any one underwriting year over the life of the businesses in Australia and Canada. This factor was 35% for all periods presented.	
(3)  	Includes the impact of settlements and cancelled insurance contracts, primarily with lenders in Europe. Primary flow risk in-force excludes $271 million, $296 million, $290 million, $298 million and $282 million of risk in-force in Europe ceded under quota share reinsurance agreements as of March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively.	
(4)  	Beginning in the fourth quarter of 2014, risk in-force reflects a maximum risk exposure of approximately $60 million with one lender in Ireland as a result of a settlement completed during the fourth quarter of 2014.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
Selected Key Performance Measures—International Mortgage Insurance Segment—Canada
(dollar amounts in millions)

Primary Insurance		March 31, 2015	 		December 31, 2014	 		September 30, 2014	 		June 30, 2014	 		March 31, 2014	 		 	 	
Insured loans in-force (1),(2)		 	1,704,483	  		 	1,673,505	  		 	1,646,223	  		 	1,602,928	  		 	1,549,650	  					
Insured delinquent loans		 	1,792	  		 	1,756	  		 	1,708	  		 	1,703	  		 	1,860	  					
Insured delinquency rate (2),(3)		 	0.11	% 		 	0.10	% 		 	0.10	% 		 	0.11	% 		 	0.12	% 					
							
Flow loans in-force (1)		 	1,266,626	  		 	1,255,050	  		 	1,236,206	  		 	1,213,846	  		 	1,197,083	  					
Flow delinquent loans		 	1,532	  		 	1,493	  		 	1,477	  		 	1,493	  		 	1,634	  					
Flow delinquency rate (3)		 	0.12	% 		 	0.12	% 		 	0.12	% 		 	0.12	% 		 	0.14	% 					
							
Bulk loans in-force (1)		 	437,857	  		 	418,455	  		 	410,017	  		 	389,082	  		 	352,567	  					
Bulk delinquent loans		 	260	  		 	263	  		 	231	  		 	210	  		 	226	  					
Bulk delinquency rate (3)		 	0.06	% 		 	0.06	% 		 	0.06	% 		 	0.05	% 		 	0.06	% 					
							
Loss Metrics		March 31, 2015	 		December 31, 2014	 		September 30, 2014	 		June 30, 2014	 		March 31, 2014	 		 	 	
Beginning Reserves		$	91	  		$	89	  		$	90	  		$	97	  		$	102	  					
Paid claims (4)		 	(22	) 		 	(24	) 		 	(24	) 		 	(26	) 		 	(27	) 					
Increase in reserves		 	24	  		 	29	  		 	27	  		 	16	  		 	26	  					
Impact of changes in foreign exchange rates		 	(8	) 		 	(3	) 		 	(4	) 		 	3	  		 	(4	) 					
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Ending Reserves		$	85	  		$	91	  		$	89	  		$	90	  		$	97	  					

 		March 31, 2015	 		December 31, 2014	 		March 31, 2014	 	
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		 	46	% 		 	0.05	% 		 	46	% 		 	0.05	% 		 	47	% 		 	0.07%    	  	
Alberta		 	17	  		 	0.09	% 		 	17	  		 	0.10	% 		 	16	  		 	0.12%    	  	
Quebec		 	14	  		 	0.19	% 		 	14	  		 	0.19	% 		 	14	  		 	0.19%    	  	
British Columbia		 	14	  		 	0.13	% 		 	14	  		 	0.14	% 		 	15	  		 	0.17%    	  	
Saskatchewan		 	3	  		 	0.15	% 		 	3	  		 	0.13	% 		 	2	  		 	0.11%    	  	
Nova Scotia		 	2	  		 	0.23	% 		 	2	  		 	0.23	% 		 	2	  		 	0.24%    	  	
Manitoba		 	2	  		 	0.07	% 		 	2	  		 	0.07	% 		 	2	  		 	0.08%    	  	
New Brunswick		 	1	  		 	0.22	% 		 	1	  		 	0.20	% 		 	1	  		 	0.24%    	  	
All Other		 	1	  		 	0.12	% 		 	1	  		 	0.12	% 		 	1	  		 	0.11%    	  	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total		 	100	% 		 	0.11	% 		 	100	% 		 	0.10	% 		 	100	% 		 	0.12%    	  	

By Policy Year		 	 		 	 		 	 		 	 		 	 		 	 	
2007 and prior		 	39	% 		 	0.05	% 		 	40	% 		 	0.05	% 		 	44	% 		 	0.07%    	  	
2008		 	7	  		 	0.22	% 		 	7	  		 	0.21	% 		 	8	  		 	0.25%    	  	
2009		 	5	  		 	0.19	% 		 	5	  		 	0.22	% 		 	5	  		 	0.25%    	  	
2010		 	7	  		 	0.23	% 		 	8	  		 	0.23	% 		 	9	  		 	0.26%    	  	
2011		 	7	  		 	0.26	% 		 	7	  		 	0.25	% 		 	8	  		 	0.27%    	  	
2012		 	10	  		 	0.19	% 		 	10	  		 	0.19	% 		 	12	  		 	0.14%    	  	
2013		 	10	  		 	0.11	% 		 	11	  		 	0.09	% 		 	12	  		 	0.04%    	  	
2014		 	12	  		 	0.05	% 		 	12	  		 	0.02	% 		 	2	  		 	—  %    	  	
2015		 	3	  		 	—  	% 		 	—  	  		 	—  	% 		 	—  	  		 	—  %    	  	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total		 	100	% 		 	0.11	% 		 	100	% 		 	0.10	% 		 	100	% 		 	0.12%    	  	

(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. As a result, the company estimates that the outstanding loans in-force were 793,700 and 783,700 as of December 31, 2014 and September 30, 2014, respectively. This is based on the extrapolation of the amounts reported by lenders to the entire insured population. The corresponding insured delinquency rate was 0.22% as of December 31, 2014 and September 30, 2014.	
(3)  	Delinquent rates are based on insured loans in-force.	
(4)  	Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.	
 
25

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Selected Key Performance Measures—International Mortgage Insurance Segment—Canada
(Canadian dollar amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Paid Claims (1)	  			 	  				 				 				 				 				
Flow	  	$	25	 	  	$	26	  	 	$	25	  	 	$	28	  	 	$	28	  	 	$	107	  	
Bulk	  	 	2	 	  	 	1	  	 	 	1	  	 	 	—  	  	 	 	1	  	 	 	3	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	27	 	  	$	27	  	 	$	26	  	 	$	28	  	 	$	29	  	 	$	110	  	

Average Paid Claim (in thousands)	  	$	67.9	 	  	$	60.2	  	 	$	63.9	  	 	$	63.4	  	 	$	66.4	  	 				
	 						
Average Reserve Per Delinquency (in thousands)	  	$	60.4	 	  	$	60.2	  	 	$	58.4	  	 	$	56.4	  	 	$	57.5	  	 				
	 						
Loss Metrics	  			 	  				 				 				 				 				
	 						
Beginning Reserves	  	$	106	 	  	$	100	  	 	$	96	  	 	$	107	  	 	$	108	  	 				
Paid claims (1)	  	 	(27	)	  	 	(27	) 	 	 	(26	) 	 	 	(28	) 	 	 	(29	) 	 				
Increase in reserves	  	 	29	 	  	 	33	  	 	 	30	  	 	 	17	  	 	 	28	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Ending Reserves	  	$	108	 	  	$	106	  	 	$	100	  	 	$	96	  	 	$	107	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Loan Amount (2)	  			 	  				 				 				 				 				
	 						
Over $550K	  	 	6	% 	  	 	6	% 	 	 	6	% 	 	 	5	% 	 	 	5	% 	 				
$400K to $550K	  	 	12	 	  	 	11	  	 	 	11	  	 	 	11	  	 	 	11	  	 				
$250K to $400K	  	 	33	 	  	 	33	  	 	 	32	  	 	 	32	  	 	 	32	  	 				
$100K to $250K	  	 	44	 	  	 	45	  	 	 	46	  	 	 	47	  	 	 	47	  	 				
$100K or Less	  	 	5	 	  	 	5	  	 	 	5	  	 	 	5	  	 	 	5	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total	  	 	100	% 	  	 	100	% 	 	 	100	% 	 	 	100	% 	 	 	100	% 	 				

Average Primary Loan Size (in thousands)	  	$	215	 	  	$	213	  	 	$	212	  	 	$	209	  	 	$	208	  	 				
							
Average Effective Loan-To-Value Ratios By Policy Year (3)	  				  				 				 				 				 				
							
2006 and prior	  	 	36	%	  	 	36	% 	 	 	38	% 	 	 	39	% 	 	 	39	% 	 				
2007	  	 	61	%	  	 	61	% 	 	 	64	% 	 	 	64	% 	 	 	65	% 	 				
2008	  	 	68	% 	  	 	68	% 	 	 	71	% 	 	 	71	% 	 	 	71	% 	 				
2009	  	 	66	% 	  	 	66	% 	 	 	69	% 	 	 	70	% 	 	 	70	% 	 				
2010	  	 	73	% 	  	 	73	% 	 	 	76	% 	 	 	77	% 	 	 	77	% 	 				
2011	  	 	77	% 	  	 	77	% 	 	 	80	% 	 	 	81	% 	 	 	81	% 	 				
2012	  	 	82	% 	  	 	82	% 	 	 	86	% 	 	 	86	% 	 	 	87	% 	 				
2013	  	 	86	% 	  	 	87	% 	 	 	90	% 	 	 	91	% 	 	 	91	% 	 				
2014	  	 	92	% 	  	 	92	% 	 	 	93	% 	 	 	93	% 	 	 	—  	% 	 				
Total Flow	  	 	56	% 	  	 	56	% 	 	 	57	% 	 	 	57	% 	 	 	57	% 	 				
							
Total Bulk	  	 	42	% 	  	 	42	% 	 	 	42	% 	 	 	41	% 	 	 	41	% 	 				
Total	  	 	52	% 	  	 	52	% 	 	 	53	% 	 	 	54	% 	 	 	54	% 	 				
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.	
(3)  	Loan amounts (including capitalized premiums) reflect interest rates at time of loan origination and estimated scheduled principal repayments since loan origination. Home price estimates based on regional home price appreciation/depreciation data from the Canadian Real Estate Association. All data used in the effective loan-to-value ratio calculation reflects conditions as of the end of the previous quarter.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
Selected Key Performance Measures—International Mortgage Insurance Segment—Australia
(dollar amounts in millions)

Primary Insurance		March 31, 2015	 		December 31, 2014	 		September 30, 2014	 		June 30, 2014	 		March 31, 2014	 		 	 	
Insured loans in-force	  	 	1,498,197	  	 	 	1,496,616	  	 	 	1,490,221	  	 	 	1,481,201	  	 	 	1,477,063	  	 				
Insured delinquent loans	  	 	5,378	  	 	 	4,953	  	 	 	5,300	  	 	 	5,405	  	 	 	5,070	  	 				
Insured delinquency rate	  	 	0.36	% 	 	 	0.33	% 	 	 	0.36	% 	 	 	0.36	% 	 	 	0.34	% 	 				
							
Flow loans in-force	  	 	1,382,156	  	 	 	1,378,584	  	 	 	1,370,136	  	 	 	1,362,236	  	 	 	1,355,635	  	 				
Flow delinquent loans	  	 	5,112	  	 	 	4,714	  	 	 	5,031	  	 	 	5,125	  	 	 	4,813	  	 				
Flow delinquency rate	  	 	0.37	% 	 	 	0.34	% 	 	 	0.37	% 	 	 	0.38	% 	 	 	0.36	% 	 				
							
Bulk loans in-force	  	 	116,041	  	 	 	118,032	  	 	 	120,085	  	 	 	118,965	  	 	 	121,428	  	 				
Bulk delinquent loans	  	 	266	  	 	 	239	  	 	 	269	  	 	 	280	  	 	 	257	  	 				
Bulk delinquency rate	  	 	0.23	% 	 	 	0.20	% 	 	 	0.22	% 	 	 	0.24	% 	 	 	0.21	% 	 				
							
Loss Metrics	  	March 31, 2015	 	 	December 31, 2014	 	 	September 30, 2014	 	 	June 30, 2014	 	 	March 31, 2014	 	 	 	 	
Beginning Reserves	  	$	152	  	 	$	161	  	 	$	171	  	 	$	168	  	 	$	172	  	 				
Paid claims (1)	  	 	(14	) 	 	 	(14	) 	 	 	(19	) 	 	 	(24	) 	 	 	(27	) 	 				
Increase in reserves	  	 	21	  	 	 	15	  	 	 	22	  	 	 	24	  	 	 	17	  	 				
Impact of changes in foreign exchange rates	  	 	(10	) 	 	 	(10	) 	 	 	(13	) 	 	 	3	  	 	 	6	  	 				
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Ending Reserves	  	$	149	  	 	$	152	  	 	$	161	  	 	$	171	  	 	$	168	  	 				

 		March 31, 2015	 		December 31, 2014	 		March 31, 2014	 	
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	% 	 	 	0.31%    	  	
Queensland	  	 	23	  	 	 	0.50	% 	 	 	23	  	 	 	0.47	% 	 	 	23	  	 	 	0.45%    	  	
Victoria	  	 	23	  	 	 	0.32	% 	 	 	23	  	 	 	0.30	% 	 	 	23	  	 	 	0.31%    	  	
Western Australia	  	 	11	  	 	 	0.37	% 	 	 	11	  	 	 	0.32	% 	 	 	11	  	 	 	0.33%    	  	
South Australia	  	 	6	  	 	 	0.48	% 	 	 	6	  	 	 	0.44	% 	 	 	6	  	 	 	0.42%    	  	
Australian Capital Territory	  	 	3	  	 	 	0.13	% 	 	 	3	  	 	 	0.16	% 	 	 	3	  	 	 	0.11%    	  	
Tasmania	  	 	2	  	 	 	0.28	% 	 	 	2	  	 	 	0.25	% 	 	 	2	  	 	 	0.29%    	  	
New Zealand	  	 	2	  	 	 	0.27	% 	 	 	2	  	 	 	0.28	% 	 	 	2	  	 	 	0.34%    	  	
Northern Territory	  	 	1	  	 	 	0.20	% 	 	 	1	  	 	 	0.16	% 	 	 	1	  	 	 	0.20%    	  	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.36	% 	 	 	100	% 	 	 	0.33	% 	 	 	100	% 	 	 	0.34%    	  	

By Policy Year		 	 		 	 		 	 		 	 		 	 		 	 	
2007 and prior	  	 	39	% 	 	 	0.29	% 	 	 	40	% 	 	 	0.26	% 	 	 	43	% 	 	 	0.29%    	  	
2008	  	 	7	  	 	 	0.87	% 	 	 	7	  	 	 	0.87	% 	 	 	8	  	 	 	0.89%    	  	
2009	  	 	9	  	 	 	0.70	% 	 	 	9	  	 	 	0.66	% 	 	 	10	  	 	 	0.64%    	  	
2010	  	 	6	  	 	 	0.42	% 	 	 	6	  	 	 	0.38	% 	 	 	7	  	 	 	0.36%    	  	
2011	  	 	7	  	 	 	0.42	% 	 	 	7	  	 	 	0.40	% 	 	 	8	  	 	 	0.34%    	  	
2012	  	 	9	  	 	 	0.40	% 	 	 	9	  	 	 	0.32	% 	 	 	10	  	 	 	0.22%    	  	
2013	  	 	10	  	 	 	0.26	% 	 	 	11	  	 	 	0.18	% 	 	 	11	  	 	 	0.05%    	  	
2014	  	 	11	  	 	 	0.06	% 	 	 	11	  	 	 	0.02	% 	 	 	3	  	 	 	—  %    	  	
2015	  	 	2	  	 	 	—  	% 	 	 	—  	  	 	 	—  	% 	 	 	—  	  	 	 	—  %    	  	
	  	 	 	 	 				 	 	 	 	 				 	 	 	 	 				
Total	  	 	100	% 	 	 	0.36	% 	 	 	100	% 	 	 	0.33	% 	 	 	100	% 	 	 	0.34%    	  	

(1)  	Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
Selected Key Performance Measures—International Mortgage Insurance Segment—Australia
(Australian dollar amounts in millions)

 	    	2015	 	    	2014	 	
 	    	1Q	 	    	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
Paid Claims (1)	    			 	    				  				  				  				  				
Flow	    	$	17	 	    	$	15	  	  	$	20	  	  	$	25	  	  	$	30	  	  	$	90	  	
Bulk	    	 	1	 	    	 	—  	  	  	 	1	  	  	 	—  	  	  	 	—  	  	  	 	1	  	
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Paid Claims	    	$	18	 	    	$	15	  	  	$	21	  	  	$	25	  	  	$	30	  	  	$	91	  	

Average Paid Claim (in thousands)	    	$	62.5	 	    	$	49.5	  	  	$	58.6	  	  	$	60.5	  	  	$	65.1	  	  				
	 						
Average Reserve Per Delinquency (in thousands)	    	$	36.4	 	    	$	37.6	  	  	$	34.8	  	  	$	33.6	  	  	$	35.7	  	  				
	 						
Loss Metrics	    			 	    				  				  				  				  				
Beginning Reserves	    	$	186	 	    	$	184	  	  	$	181	  	  	$	181	  	  	$	192	  	  				
Paid claims (1)	    	 	(18	)	    	 	(15	) 	  	 	(21	) 	  	 	(25	) 	  	 	(30	) 	  				
Increase in reserves	    	 	28	 	    	 	17	  	  	 	24	  	  	 	25	  	  	 	19	  	  				
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  				
Ending Reserves	    	$	196	 	    	$	186	  	  	$	184	  	  	$	181	  	  	$	181	  	  				
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  				
Loan Amount (2)	    			 	    				  				  				  				  				
Over $550K	    	 	13	% 	    	 	13	% 	  	 	13	% 	  	 	12	% 	  	 	12	% 	  				
$400K to $550K	    	 	19	 	    	 	18	  	  	 	18	  	  	 	18	  	  	 	18	  	  				
$250K to $400K	    	 	37	 	    	 	37	  	  	 	37	  	  	 	37	  	  	 	37	  	  				
$100K to $250K	    	 	26	 	    	 	26	  	  	 	26	  	  	 	27	  	  	 	27	  	  				
$100K or Less	    	 	5	 	    	 	6	  	  	 	6	  	  	 	6	  	  	 	6	  	  				
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  				
Total	    	 	100	% 	    	 	100	% 	  	 	100	% 	  	 	100	% 	  	 	100	% 	  				

Average Primary Loan Size (in thousands)	    	$	211	 	    	$	210	  	  	$	208	  	  	$	207	  	  	$	205	  	  				
							
Average Effective Loan-To-Value Ratios By Policy Year  (3) 	    				    				  				  				  				  				
							
2006 and prior	    	 	36	%	    	 	36	% 	  	 	38	% 	  	 	38	% 	  	 	40	% 	  				
2007	    	 	57	%	    	 	58	% 	  	 	60	% 	  	 	61	% 	  	 	63	% 	  				
2008	    	 	65	% 	    	 	66	% 	  	 	67	% 	  	 	68	% 	  	 	70	% 	  				
2009	    	 	67	% 	    	 	68	% 	  	 	69	% 	  	 	70	% 	  	 	73	% 	  				
2010	    	 	72	% 	    	 	73	% 	  	 	74	% 	  	 	76	% 	  	 	78	% 	  				
2011	    	 	73	% 	    	 	74	% 	  	 	76	% 	  	 	77	% 	  	 	80	% 	  				
2012	    	 	74	% 	    	 	75	% 	  	 	77	% 	  	 	78	% 	  	 	80	% 	  				
2013	    	 	78	% 	    	 	79	% 	  	 	81	% 	  	 	82	% 	  	 	84	% 	  				
2014	    	 	85	% 	    	 	86	% 	  	 	87	% 	  	 	87	% 	  	 	—  	% 	  				
Total Flow	    	 	60	% 	    	 	60	% 	  	 	61	% 	  	 	61	% 	  	 	62	% 	  				
							
Total Bulk	    	 	27	% 	    	 	28	% 	  	 	28	% 	  	 	29	% 	  	 	30	% 	  				
Total	    	 	56	% 	    	 	57	% 	  	 	58	% 	  	 	58	% 	  	 	59	% 	  				
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.	
(3)  	Loan amounts (including capitalized premiums) reflect interest rates at time of loan origination and estimated scheduled principal repayments since loan origination. Home price estimates based on regional home price appreciation/depreciation data from RP Data. All data used in the effective loan-to-value ratio calculation reflects conditions as of the end of the previous quarter. Effective loan-to-value ratios exclude New Zealand and inward reinsurance policies.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015

Selected Key Performance Measures—International Mortgage Insurance Segment
(amounts in millions)

Risk In-Force by Loan-To-Value Ratio (1) 	  	March 31, 2015	 	  	December 31, 2014	 	
 	  	Primary	 	  	Flow	 	  	Bulk	 	  	Primary	 	  	Flow	 	  	Bulk	 	
Canada	  				  				  				  				  				  				
95.01% and above	  	$	35,468	  	  	$	35,468	  	  	$	—  	  	  	$	37,991	  	  	$	37,991	  	  	$	—  	  	
90.01% to 95.00% (2)	  	 	23,036	  	  	 	23,036	  	  	 	—  	  	  	 	24,836	  	  	 	24,836	  	  	 	—  	  	
80.01% to 90.00% (2)	  	 	14,333	  	  	 	14,330	  	  	 	3	  	  	 	15,499	  	  	 	15,499	  	  	 	—  	  	
80.00% and below (2)	  	 	28,236	  	  	 	2,828	  	  	 	25,408	  	  	 	28,999	  	  	 	3,038	  	  	 	25,961	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Canada		$	101,073	  		$	75,662	  		$	25,411	  		$	107,325	  		$	81,364	  		$	25,961	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Australia																									
95.01% and above		$	16,088	  		$	16,088	  		$	—  	  		$	17,143	  		$	17,143	  		$	—  	  	
90.01% to 95.00%		 	21,121	  		 	21,114	  		 	7	  		 	22,207	  		 	22,200	  		 	7	  	
80.01% to 90.00%		 	22,210	  		 	22,140	  		 	70	  		 	23,482	  		 	23,406	  		 	76	  	
80.00% and below		 	24,887	  		 	19,267	  		 	5,620	  		 	26,758	  		 	20,615	  		 	6,143	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Australia		$	84,306	  		$	78,609	  		$	5,697	  		$	89,590	  		$	83,364	  		$	6,226	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Other Countries (3)																									
95.01% and above		$	466	  		$	466	  		$	—  	  		$	534	  		$	534	  		$	—  	  	
90.01% to 95.00%		 	1,090	  		 	1,039	  		 	51	  		 	1,217	  		 	1,167	  		 	50	  	
80.01% to 90.00%		 	575	  		 	342	  		 	233	  		 	617	  		 	397	  		 	220	  	
80.00% and below		 	143	  		 	112	  		 	31	  		 	163	  		 	130	  		 	33	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total Other Countries		$	2,273	  		$	1,958	  		$	315	  		$	2,531	  		$	2,228	  		$	303	  	

Amounts	may not total due to rounding.	

(1)  	Loan amount in loan-to-value ratio calculation includes capitalized premiums, where applicable.	
(2)  	Previously, lender paid premiums were utilized in the calculation of the loan-to-value ratio for effective risk in-force loans and should have been excluded. Amounts for the prior period have been re-presented to reflect the correction to this calculation.	
(3)  	Other Countries flow and primary risk in-force exclude $271 million and $296 million, respectively, of risk in-force in Europe ceded under quota share reinsurance agreements as of March 31, 2015 and December 31, 2014.	
 
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U.S. Mortgage Insurance Segment
 
30

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Income (Loss) and Sales—U.S. Mortgage Insurance Segment
(amounts in millions)

 	    	2015	 	  	2014	 	
 	    	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	    			 	  				  				  				  				  				
Premiums	    	$	150	  	  	$	151	  	  	$	146	  	  	$	144	  	  	$	137	  	  	$	578	  	
Net investment income	    	 	19	  	  	 	11	  	  	 	19	  	  	 	11	  	  	 	18	  	  	 	59	  	
Net investment gains (losses)	    	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	
Insurance and investment product fees and other	    	 	1	  	  	 	1	  	  	 	—  	  	  	 	1	  	  	 	—  	  	  	 	2	  	
	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues		 	170	  		 	163	  		 	165	  		 	156	  		 	155	  		 	639	  	
	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	50	  		 	91	  		 	141	  		 	62	  		 	63	  		 	357	  	
Acquisition and operating expenses, net of deferrals		 	37	  		 	38	  		 	35	  		 	34	  		 	33	  		 	140	  	
Amortization of deferred acquisition costs and intangibles		 	2	  		 	2	  		 	1	  		 	2	  		 	2	  		 	7	  	
	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses		 	89	  		 	131	  		 	177	  		 	98	  		 	98	  		 	504	  	
	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	81	  		 	32	  		 	(12	) 		 	58	  		 	57	  		 	135	  	
Provision (benefit) for income taxes		 	29	  		 	11	  		 	(10	) 		 	19	  		 	24	  		 	44	  	
	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME (LOSS)		 	52	  		 	21	  		 	(2	) 		 	39	  		 	33	  		 	91	  	
	 						
ADJUSTMENT TO NET INCOME (LOSS):				 																					
Net investment (gains) losses, net		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET OPERATING INCOME (LOSS)		$	52	  		$	21	  		$	(2	) 		$	39	  		$	33	  		$	91	  	

Effective tax rate (operating income (loss))		 	35.7	% 		 	32.5	% 		 	80.1	% 		 	32.4	% 		 	42.0	% 		 	32.2	% 	
							
SALES:																									
New Insurance Written (NIW)																									
Flow		$	6,300	  		$	6,900	  		$	7,500	  		$	6,100	  		$	3,900	  		$	24,400	  	
Bulk		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total U.S. Mortgage Insurance NIW		$	6,300	  		$	6,900	  		$	7,500	  		$	6,100	  		$	3,900	  		$	24,400	  	

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
Flow New Insurance Written Metrics—U.S. Mortgage Insurance Segment
(amounts in millions)

 	  	2015	 	 	2014	 	
 	  	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)	  	$	4,400	  	  	 	60	  	 	$	5,100	  	  	 	60	  	 	$	6,100	  	  	 	59	  	 	$	5,300	  	  	 	59	  	 	$	3,400	  	  	 	58	  	
Single	  	 	1,900	  	  	 	160	  	 	 	1,800	  	  	 	155	  	 	 	1,400	  	  	 	194	  	 	 	800	  	  	 	197	  	 	 	500	  	  	 	200	  	
	  	 	 	 	  			 	 	 	 	 	  				 	 	 	 	  				 	 	 	 	  				 	 	 	 	  				
Total Flow		$	6,300	  				 		$	6,900	  						$	7,500	  						$	6,100	  						$	3,900	  					

 	  	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	  	$	3,700	  	  	 	59	% 	 	$	4,100	  	  	 	59	% 	 	$	4,400	  	  	 	59	% 	 	$	3,600	  	  	 	59	% 	 	$	2,400	  	  	 	61	% 	
680 - 735	  	 	2,100	  	  	 	33	 	 	 	2,200	  	  	 	32	  	 	 	2,400	  	  	 	32	  	 	 	2,000	  	  	 	33	  	 	 	1,200	  	  	 	31	  	
660 - 679 (2)	  	 	300	  	  	 	5	 	 	 	300	  	  	 	5	  	 	 	400	  	  	 	5	  	 	 	300	  	  	 	5	  	 	 	200	  	  	 	5	  	
620 - 659	  	 	200	  	  	 	3	 	 	 	300	  	  	 	4	  	 	 	300	  	  	 	4	  	 	 	200	  	  	 	3	  	 	 	100	  	  	 	3	  	
<620	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow		$	6,300	  		 	100	% 		$	6,900	  		 	100	% 		$	7,500	  		 	100	% 		$	6,100	  		 	100	% 		$	3,900	  		 	100	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Loan-To-Value Ratio								 																																	
95.01% and above		$	300	  		 	5	% 		$	100	  		 	2	% 		$	200	  		 	3	% 		$	100	  		 	2	% 		$	100	  		 	3	% 	
90.01% to 95.00%		 	3,100	  		 	49	 		 	3,500	  		 	51	  		 	3,900	  		 	52	  		 	3,300	  		 	54	  		 	1,900	  		 	49	  	
85.01% to 90.00%		 	2,000	  		 	32	 		 	2,300	  		 	33	  		 	2,400	  		 	32	  		 	1,900	  		 	31	  		 	1,300	  		 	33	  	
85.00% and below		 	900	  		 	14	 		 	1,000	  		 	14	  		 	1,000	  		 	13	  		 	800	  		 	13	  		 	600	  		 	15	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow		$	6,300	  		 	100	% 		$	6,900	  		 	100	% 		$	7,500	  		 	100	% 		$	6,100	  		 	100	% 		$	3,900	  		 	100	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Origination								 																																	
Purchase		$	4,300	  		 	68	% 		$	5,300	  		 	77	% 		$	6,400	  		 	85	% 		$	5,100	  		 	84	% 		$	3,000	  		 	77	% 	
Refinance		 	2,000	  		 	32	 		 	1,600	  		 	23	  		 	1,100	  		 	15	  		 	1,000	  		 	16	  		 	900	  		 	23	  	
	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total Flow		$	6,300	  		 	100	% 		$	6,900	  		 	100	% 		$	7,500	  		 	100	% 		$	6,100	  		 	100	% 		$	3,900	  		 	100	% 	

 

(1)  	Includes loans with annual and split payment types.	
(2)  	Loans with unknown FICO scores are included in the 660-679 category.	
 
32

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Other Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net Premiums Written	  	$	170	  	  	$	171	  	 	$	162	  	 	$	151	  	 	$	144	  	 	$	628	  	
	 						
New Risk Written	  			 	  				 				 				 				 				
Flow	  	$	1,557	  	  	$	1,703	  	 	$	1,878	  	 	$	1,521	  	 	$	960	  	 	$	6,062	  	
Bulk	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Primary		 	1,557	  		 	1,703	  		 	1,878	  		 	1,521	  		 	960	  		 	6,062	  	
Pool		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total New Risk Written		$	1,557	  		$	1,703	  		$	1,878	  		$	1,521	  		$	960	  		$	6,062	  	

Primary Insurance In-Force		$	115,200	  		$	114,400	  		$	112,400	  		$	110,500	  		$	109,100	  					
	 						
Risk In-Force				 																					
Flow		$	28,415	  		$	28,112	  		$	27,507	  		$	26,880	  		$	26,405	  					
Bulk (1)		 	387	  		 	402	  		 	419	  		 	434	  		 	442	  					
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Primary		 	28,802	  		 	28,514	  		 	27,926	  		 	27,314	  		 	26,847	  					
Pool		 	142	  		 	151	  		 	159	  		 	163	  		 	171	  					
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Risk In-Force		$	28,944	  		$	28,665	  		$	28,085	  		$	27,477	  		$	27,018	  					

Primary Risk In-Force That Is GSE Conforming		 	97	% 		 	97	% 		 	97	% 		 	97	% 		 	97	% 					
	 						
GAAP Basis Expense Ratio (2)		 	26	% 		 	26	% 		 	25	% 		 	25	% 		 	25	% 		 	25	% 	
	 						
Adjusted Expense Ratio (3)		 	23	% 		 	23	% 		 	23	% 		 	23	% 		 	24	% 		 	23	% 	
	 						
Flow Persistency		 	81	% 		 	83	% 		 	80	% 		 	83	% 		 	85	% 					
	 						
Risk To Capital Ratio (4)		 	14.1:1	  		 	14.5:1	  		 	15.4:1	  		 	14.6:1	  		 	18.7:1	  					
	 						
Average Primary Loan Size (in thousands)		$	182	  		$	181	  		$	180	  		$	178	  		$	176	  					
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, 2015, 84% of our 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 written premiums. 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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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Loss Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Paid Claims	  			 	  				 				 				 				 				
Flow	  			 	  				 				 				 				 				
Direct	  	$	130	  	  	$	142	  	 	$	148	  	 	$	148	  	 	$	178	  	 	$	616	  	
Assumed (1)	  	 	5	  	  	 	3	  	 	 	4	  	 	 	6	  	 	 	6	  	 	 	19	  	
Ceded	  	 	(16	) 	  	 	(4	) 	 	 	(3	) 	 	 	(4	) 	 	 	(15	) 	 	 	(26	) 	
Loss adjustment expenses	  	 	4	  	  	 	4	  	 	 	4	  	 	 	4	  	 	 	5	  	 	 	17	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Flow	  	 	123	  	  	 	145	  	 	 	153	  	 	 	154	  	 	 	174	  	 	 	626	  	
Bulk	  	 	2	  	  	 	2	  	 	 	2	  	 	 	2	  	 	 	2	  	 	 	8	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Primary	  	 	125	  	  	 	147	  	 	 	155	  	 	 	156	  	 	 	176	  	 	 	634	  	
Pool	  	 	1	  	  	 	2	  	 	 	1	  	 	 	1	  	 	 	1	  	 	 	5	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Paid Claims	  	$	126	  	  	$	149	  	 	$	156	  	 	$	157	  	 	$	177	  	 	$	639	  	

Average Paid Claim (in thousands)	  	$	46.5	  	  	$	46.6	  	 	$	47.6	  	 	$	47.2	  	 	$	43.6	  	 				
	 						
Average Reserve Per Delinquency (in thousands)	  			 	  				 				 				 				 				
Flow	  	$	31.0	  	  	$	30.2	  	 	$	30.7	  	 	$	30.0	  	 	$	30.3	  	 				
Bulk loans with established reserve	  	 	21.2	  	  	 	20.4	  	 	 	20.5	  	 	 	22.5	  	 	 	19.2	  	 				
Bulk loans with no reserve (2)	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 				
	 						
Reserves:	  			 	  				 				 				 				 				
Flow direct case	  	$	992	  	  	$	1,065	  	 	$	1,122	  	 	$	1,083	  	 	$	1,172	  	 				
Bulk direct case	  	 	20	  	  	 	21	  	 	 	22	  	 	 	24	  	 	 	25	  	 				
Assumed (1)	  	 	15	  	  	 	21	  	 	 	21	  	 	 	24	  	 	 	29	  	 				
All other (3)	  	 	60	  	  	 	73	  	 	 	74	  	 	 	125	  	 	 	129	  	 				
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total Reserves	  	$	1,087	  	  	$	1,180	  	 	$	1,239	  	 	$	1,256	  	 	$	1,355	  	 				

Beginning Reserves	  	$	1,180	  	  	$	1,239	  	 	$	1,256	  	 	$	1,355	  	 	$	1,482	  	 	$	1,482	  	
Paid claims	  	 	(142	) 	  	 	(153	) 	 	 	(158	) 	 	 	(162	) 	 	 	(192	) 	 	 	(665	) 	
Increase in reserves	  	 	49	  	  	 	94	  	 	 	141	  	 	 	63	  	 	 	65	  	 	 	363	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reserves	  	$	1,087	  	  	$	1,180	  	 	$	1,239	  	 	$	1,256	  	 	$	1,355	  	 	$	1,180	  	

Beginning Reinsurance Recoverable (4)	  	$	24	  	  	$	25	  	 	$	27	  	 	$	31	  	 	$	44	  	 	$	44	  	
Ceded paid claims	  	 	(16	) 	  	 	(4	) 	 	 	(2	) 	 	 	(5	) 	 	 	(15	) 	 	 	(26	) 	
Increase in recoverable	  	 	(1	) 	  	 	3	  	 	 	—  	  	 	 	1	  	 	 	2	  	 	 	6	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ending Reinsurance Recoverable	  	$	7	  	  	$	24	  	 	$	25	  	 	$	27	  	 	$	31	  	 	$	24	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Loss Ratio (5)	  	 	33	% 	  	 	61	% 	 	 	97	% 	 	 	43	% 	 	 	46	% 	 	 	62	% 	
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)  	Assumed is comprised of reinsurance arrangements with state governmental housing finance agencies.	
(2)  	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.	
(3)  	Other includes loss adjustment expenses, pool and incurred but not reported reserves.	
(4)  	Reinsurance recoverable excludes ceded unearned premium recoveries and amounts for which cash proceeds have not yet been received.	
(5)  	The ratio of incurred losses to net earned premiums. Lender settlements of $53 million in the third quarter of 2014 increased the loss ratio by 37 percentage points and 9 percentage points for the three months ended September 30, 2014 and the twelve months ended December 31, 2014, respectively.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Delinquency Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 		2015	 		2014	 	
 		1Q	 		4Q	 		3Q	 		2Q	 		1Q	 		Total	 	
Number of Primary Delinquencies	  			 	  				  				  				  				  				
Flow	  	 	34,220	  	  	 	38,177	  	  	 	39,485	  	  	 	40,897	  	  	 	43,733	  	  				
Bulk loans with an established reserve	  	 	984	  	  	 	1,109	  	  	 	1,147	  	  	 	1,147	  	  	 	1,434	  	  				
Bulk loans with no reserve (1)	  	 	461	  	  	 	500	  	  	 	515	  	  	 	561	  	  	 	694	  	  				
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  				
Total Number of Primary Delinquencies	  	 	35,665	  	  	 	39,786	  	  	 	41,147	  	  	 	42,605	  	  	 	45,861	  	  				

Beginning Number of Primary Delinquencies	  	 	39,786	  	  	 	41,147	  	  	 	42,605	  	  	 	45,861	  	  	 	51,459	  	  	 	51,459	  	
New delinquencies	  	 	9,554	  	  	 	10,826	  	  	 	11,574	  	  	 	10,568	  	  	 	12,100	  	  	 	45,068	  	
Delinquency cures	  	 	(10,988	) 	  	 	(9,030	) 	  	 	(9,790	) 	  	 	(10,545	) 	  	 	(13,678	) 	  	 	(43,043	) 	
Paid claims	  	 	(2,687	) 	  	 	(3,157	) 	  	 	(3,242	) 	  	 	(3,279	) 	  	 	(4,020	) 	  	 	(13,698	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Ending Number of Primary Delinquencies	  	 	35,665	  	  	 	39,786	  	  	 	41,147	  	  	 	42,605	  	  	 	45,861	  	  	 	39,786	  	

Composition of Cures	  			 	  				  				  				  				  				
Reported delinquent and cured-intraquarter	  	 	2,271	  	  	 	1,434	  	  	 	2,093	  	  	 	1,993	  	  	 	3,141	  	  				
Number of missed payments delinquent prior to cure:	  			 	  				  				  				  				  				
3 payments or less	  	 	6,112	  	  	 	5,340	  	  	 	5,202	  	  	 	5,335	  	  	 	7,252	  	  				
4 - 11 payments	  	 	1,912	  	  	 	1,613	  	  	 	1,772	  	  	 	2,253	  	  	 	2,391	  	  				
12 payments or more	  	 	693	  	  	 	643	  	  	 	723	  	  	 	964	  	  	 	894	  	  				
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  				
Total	  	 	10,988	  	  	 	9,030	  	  	 	9,790	  	  	 	10,545	  	  	 	13,678	  	  				

Primary Delinquencies by Missed Payment Status	  			 	  				  				  				  				  				
3 payments or less	  	 	9,271	  	  	 	11,318	  	  	 	11,478	  	  	 	11,228	  	  	 	11,351	  	  				
4 - 11 payments	  	 	9,086	  	  	 	9,684	  	  	 	9,610	  	  	 	9,913	  	  	 	11,463	  	  				
12 payments or more	  	 	17,308	  	  	 	18,784	  	  	 	20,059	  	  	 	21,464	  	  	 	23,047	  	  				
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  				
Primary Delinquencies	  	 	35,665	  	  	 	39,786	  	  	 	41,147	  	  	 	42,605	  	  	 	45,861	  	  				

			
 		 	 		March 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	  				  	 	8,895	  	  	$	57	  	  	$	360	  	  	 	16%    	  	
4 - 11 payments in default	  				  	 	8,792	  	  	 	223	  	  	 	361	  	  	 	62%    	  	
12 payments or more in default	  				  	 	16,533	  	  	 	712	  	  	 	825	  	  	 	86%    	  	
	  				  	 	 	 	  	 	 	 	  	 	 	 	  				
Total	  				  	 	34,220	  	  	$	992	  	  	$	1,546	  	  	 	64%    	  	

 		 	 		December 31, 2014	 	
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	  				  	 	10,849	  	  	$	76	  	  	$	426	  	  	 	18%    	  	
4 - 11 payments in default	  				  	 	9,368	  	  	 	238	  	  	 	383	  	  	 	62%    	  	
12 payments or more in default	  				  	 	17,960	  	  	 	751	  	  	 	895	  	  	 	84%    	  	
	  				  	 	 	 	  	 	 	 	  	 	 	 	  				
Total	  				  	 	38,177	  	  	$	1,065	  	  	$	1,704	  	  	 	63%    	  	

(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.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Portfolio Quality Metrics—U.S. Mortgage Insurance Segment

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	
Primary Loans	  			 	  				 				 				 				
Primary loans in-force	  	 	631,591	  	  	 	630,852	  	 	 	624,850	  	 	 	620,415	  	 	 	618,442	  	
Primary delinquent loans	  	 	35,665	  	  	 	39,786	  	 	 	41,147	  	 	 	42,605	  	 	 	45,861	  	
Primary delinquency rate	  	 	5.65	% 	  	 	6.31	% 	 	 	6.59	% 	 	 	6.87	% 	 	 	7.42	% 	
	 					
Flow loans in-force	  	 	601,472	  	  	 	599,206	  	 	 	591,823	  	 	 	585,719	  	 	 	582,553	  	
Flow delinquent loans	  	 	34,220	  	  	 	38,177	  	 	 	39,485	  	 	 	40,897	  	 	 	43,733	  	
Flow delinquency rate	  	 	5.69	% 	  	 	6.37	% 	 	 	6.67	% 	 	 	6.98	% 	 	 	7.51	% 	
	 					
Bulk loans in-force	  	 	30,119	  	  	 	31,646	  	 	 	33,027	  	 	 	34,696	  	 	 	35,889	  	
Bulk delinquent loans	  	 	1,445	  	  	 	1,609	  	 	 	1,662	  	 	 	1,708	  	 	 	2,128	  	
Bulk delinquency rate	  	 	4.80	% 	  	 	5.08	% 	 	 	5.03	% 	 	 	4.92	% 	 	 	5.93	% 	
	 					
A minus and sub-prime loans in-force	  	 	33,805	  	  	 	33,529	  	 	 	34,825	  	 	 	36,219	  	 	 	37,714	  	
A minus and sub-prime delinquent loans	  	 	7,019	  	  	 	7,851	  	 	 	8,017	  	 	 	8,238	  	 	 	8,789	  	
A minus and sub-prime delinquency rate	  	 	20.76	% 	  	 	23.42	% 	 	 	23.02	% 	 	 	22.74	% 	 	 	23.30	% 	
	 					
Pool Loans	  			 	  				 				 				 				
Pool loans in-force	  	 	7,979	  	  	 	8,282	  	 	 	10,125	  	 	 	10,336	  	 	 	10,710	  	
Pool delinquent loans	  	 	468	  	  	 	521	  	 	 	549	  	 	 	546	  	 	 	575	  	
Pool delinquency rate	  	 	5.87	% 	  	 	6.29	% 	 	 	5.42	% 	 	 	5.28	% 	 	 	5.37	% 	
	 					
Primary Risk In-Force by Credit Quality	  			 	  				 				 				 				
Over 735	  	 	52	% 	  	 	51	% 	 	 	51	% 	 	 	51	% 	 	 	50	% 	
680-735	  	 	31	% 	  	 	31	% 	 	 	30	% 	 	 	30	% 	 	 	30	% 	
660-679 (1)	  	 	7	% 	  	 	7	% 	 	 	7	% 	 	 	7	% 	 	 	8	% 	
620-659	  	 	7	% 	  	 	8	% 	 	 	8	% 	 	 	8	% 	 	 	8	% 	
< 620	  	 	3	% 	  	 	3	% 	 	 	4	% 	 	 	4	% 	 	 	4	% 	

(1)  	Loans with unknown FICO scores are included in the 660-679 category.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
Portfolio Quality Metrics—U.S. Mortgage Insurance Segment
(dollar amounts in millions)

 	 	March 31, 2015	 	
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	 	 	6.09	% 	 	 	12.2	% 	 	$	5,110	  	 	 	4.4	% 	 	$	1,164	  	 	 	4.0	% 	 	 	14.37	% 	
2005	 	 	5.66	% 	 	 	12.3	  	 	 	4,378	  	 	 	3.8	  	 	 	1,173	  	 	 	4.1	  	 	 	13.58	% 	
2006	 	 	5.90	% 	 	 	17.7	  	 	 	6,919	  	 	 	6.0	  	 	 	1,765	  	 	 	6.1	  	 	 	13.13	% 	
2007	 	 	5.82	% 	 	 	36.9	  	 	 	16,817	  	 	 	14.6	  	 	 	4,223	  	 	 	14.7	  	 	 	12.19	% 	
2008	 	 	5.35	% 	 	 	17.8	  	 	 	14,748	  	 	 	12.8	  	 	 	3,732	  	 	 	12.9	  	 	 	7.08	% 	
2009	 	 	4.96	% 	 	 	0.7	  	 	 	2,372	  	 	 	2.1	  	 	 	545	  	 	 	1.9	  	 	 	2.15	% 	
2010	 	 	4.69	% 	 	 	0.6	  	 	 	3,129	  	 	 	2.7	  	 	 	750	  	 	 	2.6	  	 	 	1.41	% 	
2011	 	 	4.51	% 	 	 	0.5	  	 	 	4,224	  	 	 	3.7	  	 	 	1,061	  	 	 	3.7	  	 	 	1.07	% 	
2012	 	 	3.80	% 	 	 	0.5	  	 	 	10,533	  	 	 	9.1	  	 	 	2,672	  	 	 	9.3	  	 	 	0.47	% 	
2013	 	 	3.97	% 	 	 	0.5	  	 	 	18,003	  	 	 	15.6	  	 	 	4,497	  	 	 	15.6	  	 	 	0.36	% 	
2014	 	 	4.39	% 	 	 	0.3	  	 	 	22,690	  	 	 	19.7	  	 	 	5,669	  	 	 	19.7	  	 	 	0.15	% 	
2015	 	 	4.08	% 	 	 	—  	  	 	 	6,320	  	 	 	5.5	  	 	 	1,551	  	 	 	5.4	  	 	 	0.02	% 	
	 				 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 				
Total		 	4.93	% 		 	100.0	% 		$	115,243	  		 	100.0	% 		$	28,802	  		 	100.0	% 		 	5.65	% 	

 	 	March 31, 2015	 	 	December 31, 2014	 	 	March 31, 2014	 	 	 	 	
 	 	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)	 	$	28,802	  	 	 	5.65	% 	 	$	28,514	  	 	 	6.31	% 	 	$	26,847	  	 	 	7.42	% 	 				
Top 10 lenders	 	 	12,123	  	 	 	6.98	% 	 	 	12,306	  	 	 	7.65	% 	 	 	12,450	  	 	 	8.41	% 	 				
Top 20 lenders	 	 	14,177	  	 	 	6.54	% 	 	 	14,322	  	 	 	7.47	% 	 	 	14,337	  	 	 	8.32	% 	 				
								
Loan-to-value ratio	 				 				 				 				 				 				 				
95.01% and above	 	$	6,654	  	 	 	8.16	% 	 	$	6,763	  	 	 	9.07	% 	 	$	7,267	  	 	 	9.24	% 	 				
90.01% to 95.00%	 	 	12,398	  	 	 	4.34	% 	 	 	12,008	  	 	 	4.99	% 	 	 	10,187	  	 	 	6.57	% 	 				
80.01% to 90.00%	 	 	9,402	  	 	 	5.51	% 	 	 	9,383	  	 	 	6.03	% 	 	 	8,999	  	 	 	7.30	% 	 				
80.00% and below	 	 	348	  	 	 	3.37	% 	 	 	360	  	 	 	3.55	% 	 	 	394	  	 	 	3.59	% 	 				
	 	 	 	 	 				 	 	 	 	 				 	 	 	 	 				 				
Total		$	28,802	  		 	5.65	% 		$	28,514	  		 	6.31	% 		$	26,847	  		 	7.42	% 					
	 	 	 	 	 				 	 	 	 	 				 	 	 	 	 				 				
Loan grade																													
Prime		$	27,593	  		 	4.81	% 		$	27,262	  		 	5.35	% 		$	25,446	  		 	6.38	% 					
A minus and sub-prime		 	1,209	  		 	21.18	% 		 	1,252	  		 	23.42	% 		 	1,401	  		 	23.30	% 					
	 	 	 	 	 				 	 	 	 	 				 	 	 	 	 				 				
Total		$	28,802	  		 	5.65	% 		$	28,514	  		 	6.31	% 		$	26,847	  		 	7.42	% 					

(1)  	Average Annual Mortgage Interest Rate.	
(2)  	Total reserves were $1,087 million as of March 31, 2015.	
 
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U.S. Life Insurance Division
 
38

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Net Operating Income (Loss)—U.S. Life Insurance Division
(amounts in millions)

 	    	2015	 	    	2014	 	
 	    	1Q	 	    	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	    			 	    				  				  				  				  				
Premiums	    	$	778	  	    	$	827	  	  	$	821	  	  	$	762	  	  	$	759	  	  	$	3,169	  	
Net investment income	    	 	671	  	    	 	676	  	  	 	658	  	  	 	671	  	  	 	660	  	  	 	2,665	  	
Net investment gains (losses)	    	 	(4	) 	    	 	12	  	  	 	1	  	  	 	25	  	  	 	3	  	  	 	41	  	
Insurance and investment product fees and other	    	 	180	  	    	 	180	  	  	 	186	  	  	 	175	  	  	 	171	  	  	 	712	  	
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues		 	1,625	  		 	1,695	  		 	1,666	  		 	1,633	  		 	1,593	  		 	6,587	  	
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	1,091	  		 	1,981	  		 	1,722	  		 	1,087	  		 	1,030	  		 	5,820	  	
Interest credited		 	150	  		 	154	  		 	155	  		 	155	  		 	154	  		 	618	  	
Acquisition and operating expenses, net of deferrals		 	163	  		 	168	  		 	173	  		 	156	  		 	161	  		 	658	  	
Amortization of deferred acquisition costs and intangibles		 	73	  		 	98	  		 	91	  		 	81	  		 	75	  		 	345	  	
Goodwill impairment		 	—  	  		 	299	  		 	550	  		 	—  	  		 	—  	  		 	849	  	
Interest expense		 	25	  		 	23	  		 	22	  		 	21	  		 	21	  		 	87	  	
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses		 	1,502	  		 	2,723	  		 	2,713	  		 	1,500	  		 	1,441	  		 	8,377	  	
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	123	  		 	(1,028	) 		 	(1,047	) 		 	133	  		 	152	  		 	(1,790	) 	
Provision (benefit) for income taxes		 	43	  		 	(278	) 		 	(211	) 		 	47	  		 	57	  		 	(385	) 	
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME (LOSS)		 	80	  		 	(750	) 		 	(836	) 		 	86	  		 	95	  		 	(1,405	) 	
	 						
ADJUSTMENTS TO NET INCOME (LOSS):				 																					
Net investment (gains) losses, net		 	1	  		 	(6	) 		 	(3	) 		 	(17	) 		 	(1	) 		 	(27	) 	
Goodwill impairment, net		 	—  	  		 	274	  		 	517	  		 	—  	  		 	—  	  		 	791	  	
	    	 	 	 	    	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET OPERATING INCOME (LOSS)		$	81	  		$	(482	) 		$	(322	) 		$	69	  		$	94	  		$	(641	) 	

Effective tax rate (operating income (loss))		 	35.3	% 		 	34.7	% 		 	35.8	% 		 	35.6	% 		 	37.3	% 		 	34.7	% 	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Income—U.S. Life Insurance Division
(amounts in millions)

 		U.S. Life Insurance Segment	 		 	 	
Three months ended March 31, 2015		Long-Term Care
Insurance	 		Life Insurance	 		Fixed Annuities	 		Total U.S. Life
Insurance Segment	 		Total	 	
REVENUES:																				 	
Premiums		$	589	  		$	179	  		$	10	  		$	778	  		$	778	  	
Net investment income		 	313	  		 	127	  		 	231	  		 	671	  		 	671	  	
Net investment gains (losses)		 	3	  		 	3	  		 	(10	) 		 	(4	) 		 	(4	) 	
Insurance and investment product fees and other		 	—  	  		 	178	  		 	2	  		 	180	  		 	180	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	905	  		 	487	  		 	233	  		 	1,625	  		 	1,625	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:																				 	
Benefits and other changes in policy reserves		 	766	  		 	250	  		 	75	  		 	1,091	  		 	1,091	  	
Interest credited		 	—  	  		 	66	  		 	84	  		 	150	  		 	150	  	
Acquisition and operating expenses, net of deferrals		 	95	  		 	51	  		 	17	  		 	163	  		 	163	  	
Amortization of deferred acquisition costs and intangibles		 	26	  		 	30	  		 	17	  		 	73	  		 	73	  	
Interest expense		 	—  	  		 	25	  		 	—  	  		 	25	  		 	25	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	887	  		 	422	  		 	193	  		 	1,502	  		 	1,502	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME BEFORE INCOME TAXES		 	18	  		 	65	  		 	40	  		 	123	  		 	123	  	
Provision for income taxes		 	6	  		 	23	  		 	14	  		 	43	  		 	43	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME		 	12	  		 	42	  		 	26	  		 	80	  		 	80	  	
					 	
ADJUSTMENT TO NET INCOME:																				 	
Net investment (gains) losses, net		 	(2	) 		 	(2	) 		 	5	  		 	1	  		 	1	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME		$	10	  		$	40	  		$	31	  		$	81	  		$	81	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Effective tax rate (operating income)		 	35.3	% 		 	35.3	%		 	35.3	% 		 	35.3	%		 	35.3	% 	
			
 		U.S. Life Insurance Segment	 		 	 	
Three months ended March 31, 2014		Long-Term Care
Insurance	 		Life Insurance	 		Fixed Annuities	 		Total U.S. Life
Insurance Segment	 		Total	 	
REVENUES:																				 	
Premiums		$	565	  		$	183	  		$	11	  		$	759	  		$	759	  	
Net investment income		 	290	  		 	128	  		 	242	  		 	660	  		 	660	  	
Net investment gains (losses)		 	—  	  		 	1	  		 	2	  		 	3	  		 	3	  	
Insurance and investment product fees and other		 	1	  		 	168	  		 	2	  		 	171	  		 	171	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	856	  		 	480	  		 	257	  		 	1,593	  		 	1,593	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:																				 	
Benefits and other changes in policy reserves		 	664	  		 	281	  		 	85	  		 	1,030	  		 	1,030	  	
Interest credited		 	—  	  		 	66	  		 	88	  		 	154	  		 	154	  	
Acquisition and operating expenses, net of deferrals		 	93	  		 	50	  		 	18	  		 	161	  		 	161	  	
Amortization of deferred acquisition costs and intangibles		 	26	  		 	26	  		 	23	  		 	75	  		 	75	  	
Interest expense		 	—  	  		 	21	  		 	—  	  		 	21	  		 	21	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	783	  		 	444	  		 	214	  		 	1,441	  		 	1,441	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME BEFORE INCOME TAXES		 	73	  		 	36	  		 	43	  		 	152	  		 	152	  	
Provision for income taxes		 	27	  		 	14	  		 	16	  		 	57	  		 	57	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME		 	46	  		 	22	  		 	27	  		 	95	  		 	95	  	
					 	
ADJUSTMENT TO NET INCOME:																				 	
Net investment (gains) losses, net		 	—  	  		 	(1	) 		 	—  	  		 	(1	) 		 	(1	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME		$	46	  		$	21	  		$	27	  		$	94	  		$	94	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Effective tax rate (operating income)		 	37.0	% 		 	39.3	% 		 	36.2	% 		 	37.3	% 		 	37.3	% 	
 
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U.S. Life Insurance Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
Net Operating Income (Loss) and Sales—U.S. Life Insurance Segment—Long-Term Care Insurance
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	589	  	  	$	607	  	 	$	587	  	 	$	577	  	 	$	565	  	 	$	2,336	  	
Net investment income	  	 	313	  	  	 	303	  	 	 	293	  	 	 	292	  	 	 	290	  	 	 	1,178	  	
Net investment gains (losses)	  	 	3	  	  	 	6	  	 	 	(1	) 	 	 	3	  	 	 	—  	  	 	 	8	  	
Insurance and investment product fees and other	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	1	  	 	 	1	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	905	  		 	916	  		 	879	  		 	872	  		 	856	  		 	3,523	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	766	  		 	1,545	  		 	1,313	  		 	735	  		 	664	  		 	4,257	  	
Interest credited		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
Acquisition and operating expenses, net of deferrals		 	95	  		 	106	  		 	103	  		 	97	  		 	93	  		 	399	  	
Amortization of deferred acquisition costs and intangibles		 	26	  		 	34	  		 	25	  		 	27	  		 	26	  		 	112	  	
Goodwill impairment		 	—  	  		 	154	  		 	200	  		 	—  	  		 	—  	  		 	354	  	
Interest expense		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	887	  		 	1,839	  		 	1,641	  		 	859	  		 	783	  		 	5,122	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	18	  		 	(923	) 		 	(762	) 		 	13	  		 	73	  		 	(1,599	) 	
Provision (benefit) for income taxes		 	6	  		 	(291	) 		 	(234	) 		 	5	  		 	27	  		 	(493	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	12	  		 	(632	) 		 	(528	) 		 	8	  		 	46	  		 	(1,106	) 	
	 						
ADJUSTMENTS TO NET INCOME (LOSS):				 																					
Net investment (gains) losses, net		 	(2	) 		 	(3	) 		 	—  	  		 	(2	) 		 	—  	  		 	(5	) 	
Goodwill impairment, net		 	—  	  		 	129	  		 	167	  		 	—  	  		 	—  	  		 	296	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)		$	10	  		$	(506	) 		$	(361	) 		$	6	  		$	46	  		$	(815	) 	

							
Effective tax rate (operating income (loss))		 	35.3	% 		 	34.6	% 		 	35.7	% 		 	37.1	% 		 	37.0	% 		 	34.9	% 	
							
SALES:																									
Individual Long-Term Care Insurance		$	10	  		$	17	  		$	28	  		$	24	  		$	21	  		$	90	  	
Group Long-Term Care Insurance		 	1	  		 	6	  		 	1	  		 	2	  		 	1	  		 	10	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Sales		$	11	  		$	23	  		$	29	  		$	26	  		$	22	  		$	100	  	

RATIOS:																									
Loss Ratio (1)		 	72.4	% 		 	200.1	% 		 	173.0	% 		 	73.2	% 		 	63.3	% 		 	128.8	% 	
Gross Benefits Ratio (2)		 	130.2	% 		 	254.4	% 		 	224.1	% 		 	127.3	% 		 	117.5	% 		 	182.2	% 	

(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 the benefits and other changes in policy reserves by net earned premiums.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
Net Operating Income and Sales—U.S. Life Insurance Segment—Life Insurance
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	179	  	  	$	175	  	 	$	193	  	 	$	171	  	 	$	183	  	 	$	722	  	
Net investment income	  	 	127	  	  	 	133	  	 	 	123	  	 	 	137	  	 	 	128	  	 	 	521	  	
Net investment gains (losses)	  	 	3	  	  	 	—  	  	 	 	10	  	 	 	23	  	 	 	1	  	 	 	34	  	
Insurance and investment product fees and other	  	 	178	  	  	 	179	  	 	 	184	  	 	 	173	  	 	 	168	  	 	 	704	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	487	  		 	487	  		 	510	  		 	504	  		 	480	  		 	1,981	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	250	  		 	315	  		 	293	  		 	257	  		 	281	  		 	1,146	  	
Interest credited		 	66	  		 	67	  		 	67	  		 	66	  		 	66	  		 	266	  	
Acquisition and operating expenses, net of deferrals		 	51	  		 	45	  		 	52	  		 	45	  		 	50	  		 	192	  	
Amortization of deferred acquisition costs and intangibles		 	30	  		 	36	  		 	46	  		 	32	  		 	26	  		 	140	  	
Goodwill impairment		 	—  	  		 	145	  		 	350	  		 	—  	  		 	—  	  		 	495	  	
Interest expense		 	25	  		 	23	  		 	22	  		 	21	  		 	21	  		 	87	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	422	  		 	631	  		 	830	  		 	421	  		 	444	  		 	2,326	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	65	  		 	(144	) 		 	(320	) 		 	83	  		 	36	  		 	(345	) 	
Provision for income taxes		 	23	  		 	—  	  		 	11	  		 	29	  		 	14	  		 	54	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	42	  		 	(144	) 		 	(331	) 		 	54	  		 	22	  		 	(399	) 	
	 						
ADJUSTMENTS TO NET INCOME (LOSS):				 																					
Net investment (gains) losses, net		 	(2	) 		 	—  	  		 	(6	) 		 	(15	) 		 	(1	) 		 	(22	) 	
Goodwill impairment, net		 	—  	  		 	145	  		 	350	  		 	—  	  		 	—  	  		 	495	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME		$	40	  		$	1	  		$	13	  		$	39	  		$	21	  		$	74	  	

							
Effective tax rate (operating income)		 	35.3	% 		 	NM 	(1)  		 	35.2	% 		 	35.4	% 		 	39.3	% 		 	36.2	% 	
							
SALES:																									
							
Sales by Product:																									
Term Life		$	9	  		$	11	  		$	13	  		$	14	  		$	13	  		$	51	  	
Universal Life		 	4	  		 	7	  		 	11	  		 	7	  		 	6	  		 	31	  	
Linked-Benefits		 	4	  		 	5	  		 	4	  		 	5	  		 	2	  		 	16	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Sales		$	17	  		$	23	  		$	28	  		$	26	  		$	21	  		$	98	  	

 

(1)  	“NM” is defined as not meaningful for percentages greater than 200%.	
 
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Table of Contents
GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 
Net Operating Income and Sales—U.S. Life Insurance Segment—Fixed Annuities
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	10	  	  	$	45	  	 	$	41	  	 	$	14	  	 	$	11	  	 	$	111	  	
Net investment income	  	 	231	  	  	 	240	  	 	 	242	  	 	 	242	  	 	 	242	  	 	 	966	  	
Net investment gains (losses)	  	 	(10	) 	  	 	6	  	 	 	(8	) 	 	 	(1	) 	 	 	2	  	 	 	(1	) 	
Insurance and investment product fees and other	  	 	2	  	  	 	1	  	 	 	2	  	 	 	2	  	 	 	2	  	 	 	7	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	233	  		 	292	  		 	277	  		 	257	  		 	257	  		 	1,083	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	75	  		 	121	  		 	116	  		 	95	  		 	85	  		 	417	  	
Interest credited		 	84	  		 	87	  		 	88	  		 	89	  		 	88	  		 	352	  	
Acquisition and operating expenses, net of deferrals		 	17	  		 	17	  		 	18	  		 	14	  		 	18	  		 	67	  	
Amortization of deferred acquisition costs and intangibles		 	17	  		 	28	  		 	20	  		 	22	  		 	23	  		 	93	  	
Interest expense		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	193	  		 	253	  		 	242	  		 	220	  		 	214	  		 	929	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME BEFORE INCOME TAXES		 	40	  		 	39	  		 	35	  		 	37	  		 	43	  		 	154	  	
Provision for income taxes		 	14	  		 	13	  		 	12	  		 	13	  		 	16	  		 	54	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME		 	26	  		 	26	  		 	23	  		 	24	  		 	27	  		 	100	  	
	 						
ADJUSTMENT TO NET INCOME:				 																					
Net investment (gains) losses, net		 	5	  		 	(3	) 		 	3	  		 	—  	  		 	—  	  		 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME		$	31	  		$	23	  		$	26	  		$	24	  		$	27	  		$	100	  	

							
Effective tax rate (operating income)		 	35.3	% 		 	33.3	% 		 	34.8	% 		 	35.5	% 		 	36.2	% 		 	35.0	% 	
							
SALES:																									
Sales by Product:																									
Single Premium Deferred Annuities		$	306	  		$	439	  		$	322	  		$	400	  		$	492	  		$	1,653	  	
Single Premium Immediate Annuities		 	20	  		 	56	  		 	49	  		 	29	  		 	28	  		 	162	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Sales		$	326	  		$	495	  		$	371	  		$	429	  		$	520	  		$	1,815	  	

 
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Corporate and Other Division
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Net Operating Loss—Corporate and Other Division
(amounts in millions)

 	    	2015	 	  	2014	 	
 	    	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	    			 	  				 				 				 				 				
Premiums	    	$	180	  	  	$	172	  	 	$	186	  	 	$	200	  	 	$	176	  	 	$	734	  	
Net investment income	    	 	47	  	  	 	56	  	 	 	50	  	 	 	56	  	 	 	53	  	 	 	215	  	
Net investment gains (losses)	    	 	5	  	  	 	(18	) 	 	 	(24	) 	 	 	(3	) 	 	 	(17	) 	 	 	(62	) 	
Insurance and investment product fees and other	    	 	47	  	  	 	53	  	 	 	52	  	 	 	53	  	 	 	54	  	 	 	212	  	
	    	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	279	  		 	263	  		 	264	  		 	306	  		 	266	  		 	1,099	  	
	    	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	58	  		 	58	  		 	65	  		 	62	  		 	54	  		 	239	  	
Interest credited		 	30	  		 	31	  		 	30	  		 	29	  		 	29	  		 	119	  	
Acquisition and operating expenses, net of deferrals		 	138	  		 	136	  		 	138	  		 	155	  		 	135	  		 	564	  	
Amortization of deferred acquisition costs and intangibles		 	32	  		 	42	  		 	36	  		 	40	  		 	42	  		 	160	  	
Interest expense		 	84	  		 	88	  		 	84	  		 	91	  		 	98	  		 	361	  	
	    	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	342	  		 	355	  		 	353	  		 	377	  		 	358	  		 	1,443	  	
	    	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
LOSS BEFORE INCOME TAXES		 	(63	) 		 	(92	) 		 	(89	) 		 	(71	) 		 	(92	) 		 	(344	) 	
Provision (benefit) for income taxes		 	(27	) 		 	(174	) 		 	2	  		 	(23	) 		 	(50	) 		 	(245	) 	
	    	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	(36	) 		 	82	  		 	(91	) 		 	(48	) 		 	(42	) 		 	(99	) 	
	 						
ADJUSTMENTS TO NET INCOME (LOSS):				 																					
Net investment (gains) losses, net		 	(5	) 		 	9	  		 	11	  		 	1	  		 	10	  		 	31	  	
Tax impact from potential business portfolio changes		 	—   	  		 	(108	) 		 	—  	  		 	—  	  		 	—  	  		 	(108	) 	
	    	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING LOSS		$	(41	) 		$	(17	) 		$	(80	) 		$	(47	) 		$	(32	) 		$	(176	) 	

							
Effective tax rate (operating loss)		 	40.5	% 		 	79.0	% 		 	-10.5	% 		 	33.0	% 		 	57.5	% 		 	40.5	% 	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Income (Loss)—Corporate and Other Division
(amounts in millions)

Three months ended March 31, 2015		International
Protection Segment	 		Runoff Segment	 		Corporate and Other (1) 	 		Total	 	
REVENUES:																 	
Premiums		$	180	  		$	—  	  		$	—  	  		$	180	  	
Net investment income		 	22	  		 	31	  		 	(6	) 		 	47	  	
Net investment gains (losses)		 	—  	  		 	(6	) 		 	11	  		 	5	  	
Insurance and investment product fees and other		 	—  	  		 	49	  		 	(2	) 		 	47	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	202	  		 	74	  		 	3	  		 	279	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:																 	
Benefits and other changes in policy reserves		 	51	  		 	7	  		 	—  	  		 	58	  	
Interest credited		 	—  	  		 	30	  		 	—  	  		 	30	  	
Acquisition and operating expenses, net of deferrals		 	117	  		 	19	  		 	2	  		 	138	  	
Amortization of deferred acquisition costs and intangibles		 	26	  		 	5	  		 	1	  		 	32	  	
Interest expense		 	9	  		 	—  	  		 	75	  		 	84	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	203	  		 	61	  		 	78	  		 	342	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	(1	) 		 	13	  		 	(75	) 		 	(63	) 	
Provision (benefit) for income taxes		 	(1	) 		 	3	  		 	(29	) 		 	(27	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	—  	  		 	10	  		 	(46	) 		 	(36	) 	
				 	
ADJUSTMENT TO NET INCOME (LOSS):																 	
Net investment (gains) losses, net		 	—  	  		 	1	  		 	(6	) 		 	(5	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)		$	—  	  		$	11	  		$	(52	) 		$	(41	) 	

Effective tax rate (operating income (loss))		 	35.0	%		 	26.7	%		 	38.1	% 		 	40.5	% 	
 		 	 		 	 		 	 		 	 	
Three months ended March 31, 2014		International
Protection Segment	 		Runoff Segment	 		Corporate and Other (1) 	 		Total	 	
REVENUES:																 	
Premiums		$	175	  		$	1	  		$	—  	  		$	176	  	
Net investment income		 	30	  		 	32	  		 	(9	) 		 	53	  	
Net investment gains (losses)		 	1	  		 	(13	) 		 	(5	) 		 	(17	) 	
Insurance and investment product fees and other		 	1	  		 	53	  		 	—  	  		 	54	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	207	  		 	73	  		 	(14	) 		 	266	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:																 	
Benefits and other changes in policy reserves		 	46	  		 	8	  		 	—  	  		 	54	  	
Interest credited		 	—  	  		 	29	  		 	—  	  		 	29	  	
Acquisition and operating expenses, net of deferrals		 	109	  		 	20	  		 	6	  		 	135	  	
Amortization of deferred acquisition costs and intangibles		 	30	  		 	11	  		 	1	  		 	42	  	
Interest expense		 	15	  		 	—  	  		 	83	  		 	98	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	200	  		 	68	  		 	90	  		 	358	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	7	  		 	5	  		 	(104	) 		 	(92	) 	
Benefit for income taxes		 	(1	) 		 	—  	  		 	(49	) 		 	(50	) 	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME (LOSS)		 	8	  		 	5	  		 	(55	) 		 	(42	) 	
				 	
ADJUSTMENT TO NET INCOME (LOSS):																 	
Net investment (gains) losses, net		 	(1	) 		 	7	  		 	4	  		 	10	  	
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)		$	7	  		$	12	  		$	(51	) 		$	(32	) 	

Effective tax rate (operating income (loss))		 	-22.3	% 		 	25.1	% 		 	47.8	% 		 	57.5	% 	

(1)  	Includes inter-segment eliminations.	
 
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International Protection Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Income (Loss) and Sales—International Protection Segment
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
REVENUES:	  			 	  				 				 				 				 				
Premiums	  	$	180	  	  	$	172	  	 	$	185	  	 	$	199	  	 	$	175	  	 	$	731	  	
Net investment income	  	 	22	  	  	 	22	  	 	 	27	  	 	 	22	  	 	 	30	  	 	 	101	  	
Net investment gains (losses)	  	 	—  	  	  	 	(1	) 	 	 	—  	  	 	 	—  	  	 	 	1	  	 	 	—  	  	
Insurance and investment product fees and other	  	 	—  	  	  	 	—  	  	 	 	2	  	 	 	2	  	 	 	1	  	 	 	5	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues	  	 	202	  	  	 	193	  	 	 	214	  	 	 	223	  	 	 	207	  	 	 	837	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:	  			 	  				 				 				 				 				
Benefits and other changes in policy reserves	  	 	51	  	  	 	48	  	 	 	52	  	 	 	56	  	 	 	46	  	 	 	202	  	
Interest credited	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	
Acquisition and operating expenses, net of deferrals	  	 	117	  	  	 	110	  	 	 	117	  	 	 	126	  	 	 	109	  	 	 	462	  	
Amortization of deferred acquisition costs and intangibles	  	 	26	  	  	 	28	  	 	 	30	  	 	 	30	  	 	 	30	  	 	 	118	  	
Interest expense	  	 	9	  	  	 	12	  	 	 	10	  	 	 	9	  	 	 	15	  	 	 	46	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses	  	 	203	  	  	 	198	  	 	 	209	  	 	 	221	  	 	 	200	  	 	 	828	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES	  	 	(1	) 	  	 	(5	) 	 	 	5	  	 	 	2	  	 	 	7	  	 	 	9	  	
Provision (benefit) for income taxes	  	 	(1	) 	  	 	(109	) 	 	 	3	  	 	 	—  	  	 	 	(1	) 	 	 	(107	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME	  	 	—  	  	  	 	104	  	 	 	2	  	 	 	2	  	 	 	8	  	 	 	116	  	
	 						
ADJUSTMENTS TO NET INCOME:	  			 	  				 				 				 				 				
Net investment (gains) losses, net	  	 	—  	  	  	 	—  	  	 	 	1	  	 	 	—  	  	 	 	(1	) 	 	 	—  	  	
Tax impact from potential business portfolio changes	  	 	—  	  	  	 	(108	) 	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	(108	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS) (1)	  	$	—  	  	  	$	(4	) 	 	$	3	  	 	$	2	  	 	$	7	  	 	$	8	  	

							
Effective tax rate (operating income (loss))	  	 	35.0	%  	  	 	21.7	%  	 	 	47.7	%  	 	 	6.8	%  	 	 	-22.3	%  	 	 	5.8	%  	
							
Net Premiums Written	  				  				 				 				 				 				
Northern Europe	  	$	82	  	  	$	85	  	 	$	94	  	 	$	104	  	 	$	115	  	 	$	398	  	
Southern Europe	  	 	100	  	  	 	71	  	 	 	76	  	 	 	86	  	 	 	108	  	 	 	341	  	
Structured Deals (2)	  	 	58	  	  	 	8	  	 	 	5	  	 	 	—  	  	 	 	1	  	 	 	14	  	
New Markets	  	 	6	  	  	 	8	  	 	 	7	  	 	 	15	  	 	 	11	  	 	 	41	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Pre-Deposit Accounting Basis (3)	  	 	246	  	  	 	172	  	 	 	182	  	 	 	205	  	 	 	235	  	 	 	794	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Deposit Accounting Adjustments	  	 	53	  	  	 	23	  	 	 	17	  	 	 	6	  	 	 	39	  	 	 	85	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total (4)	  	$	193	  	  	$	149	  	 	$	165	  	 	$	199	  	 	$	196	  	 	$	709	  	

							
Loss Ratio	  	 	28	% 	  	 	28	% 	 	 	28	% 	 	 	28	% 	 	 	26	% 	 	 	28	% 	
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)  	Net operating income adjusted for foreign exchange as compared to the prior year period for the International Protection segment was zero for the three months ended March 31, 2015.	
(2)  	Structured deals represent in-force blocks of business acquired through reinsurance arrangements and ongoing reciprocal arrangements in place with certain clients.	
(3)  	This business has reinsurance agreements that do not qualify for risk transfer under GAAP. This analysis shows the net premiums written activity as if these reinsurance agreements, except for the reciprocal arrangements, were accounted for as reinsurance accounting (“pre-deposit accounting basis”) and not as deposit accounting. While this is a non-GAAP measure, management believes that “net premiums written on a pre-deposit accounting basis” represent an economic view of written premiums and enhances the understanding of the underlying performance of the business. However, net premiums written on a pre-deposit accounting basis is not a substitute for net premiums written determined in accordance with GAAP.	
(4)  	Net premiums written adjusted for foreign exchange as compared to the prior year period for the International Protection segment were $194 million for the three months ended March 31, 2015.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Income (Pre-Deposit Accounting Basis)—International Protection Segment
(amounts in millions)

 		1Q 2015	 	
 		Reported	 		Deposit
Accounting
Adjustments	 		Pre-Deposit
Accounting
Basis	 	
REVENUES:													
Premiums		$	180	  		$	54	  		$	234	  	
Net investment income		 	22	  		 	(9	) 		 	13	  	
Net investment gains (losses)		 	—  	  		 	—  	  		 	—  	  	
Insurance and investment product fees and other		 	—  	  		 	(1	) 		 	(1	) 	
	    	 	 	 	  	 	 	 	  	 	 	 	
Total revenues		 	202	  		 	44	  		 	246	  	
	    	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:													
Benefits and other changes in policy reserves		 	51	  		 	24	  		 	75	  	
Interest credited		 	—  	  		 	—  	  		 	—  	  	
Acquisition and operating expenses, net of deferrals		 	117	  		 	17	  		 	134	  	
Amortization of deferred acquisition costs and intangibles		 	26	  		 	6	  		 	32	  	
Interest expense		 	9	  		 	(3	) 		 	6	  	
	    	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses		 	203	  		 	44	  		 	247	  	
	    	 	 	 	  	 	 	 	  	 	 	 	
LOSS BEFORE INCOME TAXES		 	(1	) 		 	—  	  		 	(1	) 	
Benefit for income taxes		 	(1	) 		 	—  	  		 	(1	) 	
	    	 	 	 	  	 	 	 	  	 	 	 	
NET INCOME		 	—  	  		 	—  	  		 	—  	  	
				
ADJUSTMENT TO NET INCOME:													
Net investment (gains) losses, net		 	—  	  		 	—  	  		 	—  	  	
	    	 	 	 	  	 	 	 	  	 	 	 	
NET OPERATING INCOME (1)		$	 —  	  		$	 —  	  		$	—  	  	
	    	 	 	 	  	 	 	 	  	 	 	 	
Effective tax rate (operating income)		 	35.0	%  						 	35.0	%  	
				
Other Metrics:													
Premiums		$	180	  		$	54	  		$	234	  	
Benefits and other changes in policy reserves		 	51	  		 	24	  		 	75	  	
Commissions (2)		 	88	  		 	22	  		 	110	  	
	    	 	 	 	  	 	 	 	  	 	 	 	
Margin before profit sharing		 	41	  		 	8	  		 	49	  	
Profit share (2)		 	19	  		 	2	  		 	21	  	
	    	 	 	 	  	 	 	 	  	 	 	 	
Underwriting profit (3)		$	22	  		$	6	  		$	28	  	

Loss Ratio		 	28	% 						 	32	% 	
				
Underwriting Margin (3)		 	12	% 						 	12	% 	
				
Combined Ratio (4)		 	108	% 						 	103	% 	
This page is provided as supplemental analysis related to the lifestyle protection insurance business. This business has reinsurance agreements that do not qualify for risk transfer under GAAP. This analysis shows the income statement activity as if these reinsurance agreements, except for the reciprocal arrangements, were accounted for as reinsurance accounting (“pre-deposit accounting basis”) and not as deposit accounting. There is no impact on net income (loss) available to Genworth Financial, Inc.’s common stockholders or to segment net operating income (loss). While ‘‘pre-deposit accounting basis” is a non-GAAP measure, management believes that it represents an economic view of the underlying performance of the business. However, pre-deposit accounting basis is not a substitute for income statement activity determined in accordance with GAAP.
The ratios included above were calculated using whole dollars and may be different than the ratio calculated using the rounded numbers included herein.

(1)  	Net operating income adjusted for foreign exchange as compared to the prior year period for the International Protection segment was zero for the three months ended March 31, 2015.	
(2)  	Commissions include commissions which are included above in acquisition and operating expenses, net of deferrals, and amortization of DAC.	
(3)  	The underwriting margin is calculated as underwriting profit divided by net earned premiums.	
(4)  	The combined ratio is calculated as benefits and other changes in policy reserves, commissions (including amortization of DAC), profit share and other operating expenses divided by net earned premiums.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Income (Loss) (Pre-Deposit Accounting Basis)—International Protection Segment
(amounts in millions)

 		4Q 2014	 		3Q 2014	 		2Q 2014	 		1Q 2014	 		Total 2014	 	
 		Reported	 		Deposit
Accounting
Adjustments	 		Pre-Deposit
Accounting
Basis	 		Reported	 		Deposit
Accounting
Adjustments	 		Pre-Deposit
Accounting
Basis	 		Reported	 		Deposit
Accounting
Adjustments	 		Pre-Deposit
Accounting
Basis	 		Reported	 		Deposit
Accounting
Adjustments	 		Pre-Deposit
Accounting
Basis	 		Reported	 		Deposit
Accounting
Adjustments	 		Pre-Deposit
Accounting
Basis	 	
REVENUES:																																																													
Premiums		$	172	  		$	30	  		$	202	  		$	185	  		$	34	  		$	219	  		$	199	  		$	41	  		$	240	  		$	175	  		$	43	  		$	218	  		$	731	  		$	148	  		$	879	  	
Net investment income		 	22	  		 	(7	) 		 	15	  		 	27	  		 	(10	) 		 	17	  		 	22	  		 	(7	) 		 	15	  		 	30	  		 	(10	) 		 	20	  		 	101	  		 	(34	) 		 	67	  	
Net investment gains (losses)		 	(1	) 		 	—  	  		 	(1	) 		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	1	  		 	—  	  		 	1	  		 	—  	  		 	—  	  		 	—  	  	
Insurance and investment product fees and other		 	—  	  		 	—  	  		 	—  	  		 	2	  		 	—  	  		 	2	  		 	2	  		 	—  	  		 	2	  		 	1	  		 	—  	  		 	1	  		 	5	  		 	—  	  		 	5	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total revenues		 	193	  		 	23	  		 	216	  		 	214	  		 	24	  		 	238	  		 	223	  		 	34	  		 	257	  		 	207	  		 	33	  		 	240	  		 	837	  		 	114	  		 	951	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
BENEFITS AND EXPENSES:																																																													
Benefits and other changes in policy reserves		 	48	  		 	14	  		 	62	  		 	52	  		 	9	  		 	61	  		 	56	  		 	20	  		 	76	  		 	46	  		 	20	  		 	66	  		 	202	  		 	63	  		 	265	  	
Interest credited		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
Acquisition and operating expenses, net of deferrals		 	110	  		 	8	  		 	118	  		 	117	  		 	9	  		 	126	  		 	126	  		 	8	  		 	134	  		 	109	  		 	9	  		 	118	  		 	462	  		 	34	  		 	496	  	
Amortization of deferred acquisition costs and intangibles		 	28	  		 	7	  		 	35	  		 	30	  		 	8	  		 	38	  		 	30	  		 	9	  		 	39	  		 	30	  		 	10	  		 	40	  		 	118	  		 	34	  		 	152	  	
Interest expense		 	12	  		 	(6	) 		 	6	  		 	10	  		 	(2	) 		 	8	  		 	9	  		 	(3	) 		 	6	  		 	15	  		 	(6	) 		 	9	  		 	46	  		 	(17	) 		 	29	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total benefits and expenses		 	198	  		 	23	  		 	221	  		 	209	  		 	24	  		 	233	  		 	221	  		 	34	  		 	255	  		 	200	  		 	33	  		 	233	  		 	828	  		 	114	  		 	942	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	(5	) 		 	—  	  		 	(5	) 		 	5	  		 	—  	  		 	5	  		 	2	  		 	—  	  		 	2	  		 	7	  		 	—  	  		 	7	  		 	9	  		 	—  	  		 	9	  	
Provision (benefit) for income taxes		 	(109	) 		 	—  	  		 	(109	) 		 	3	  		 	—  	  		 	3	  		 	—  	  		 	—  	  		 	—  	  		 	(1	) 		 	—  	  		 	(1	) 		 	(107	) 		 	—  	  		 	(107	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET INCOME		 	104	  		 	—  	  		 	104	  		 	2	  		 	—  	  		 	2	  		 	2	  		 	—  	  		 	2	  		 	8	  		 	—  	  		 	8	  		 	116	  		 	—  	  		 	116	  	
																
ADJUSTMENTS TO NET INCOME:																																																													
Net investment (gains) losses, net		 	—  	  		 	—  	  		 	—  	  		 	1	  		 	—  	  		 	1	  		 	—  	  		 	—  	  		 	—  	  		 	(1	) 		 	—  	  		 	(1	) 		 	—  	  		 	—  	  		 	—  	  	
Tax impact from potential business portfolio changes		 	(108	) 		 	—  	  		 	(108	) 		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	(108	) 		 	—  	  		 	(108	) 	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
NET OPERATING INCOME (LOSS)		$	(4	) 		$	—  	  		$	(4	) 		$	3	  		$	—  	  		$	3	  		$	2	  		$	—  	  		$	2	  		$	7	  		$	—  	  		$	7	  		$	8	  		$	—  	  		$	8	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Effective tax rate (operating income (loss))		 	21.7	% 						 	21.7	% 		 	47.7	% 						 	47.7	% 		 	6.8	% 						 	6.8	% 		 	-22.3	% 						 	-22.3	% 		 	5.8	% 						 	5.8	% 	
																
Other Metrics:																																																													
Premiums		$	172	  		$	30	  		$	202	  		$	185	  		$	34	  		$	219	  		$	199	  		$	41	  		$	240	  		$	175	  		$	43	  		$	218	  		$	731	  		$	148	  		$	879	  	
Benefits and other changes in policy reserves		 	48	  		 	14	  		 	62	  		 	52	  		 	9	  		 	61	  		 	56	  		 	20	  		 	76	  		 	46	  		 	20	  		 	66	  		 	202	  		 	63	  		 	265	  	
Commissions (1)		 	80	  		 	5	  		 	85	  		 	87	  		 	6	  		 	93	  		 	96	  		 	8	  		 	104	  		 	81	  		 	9	  		 	90	  		 	344	  		 	28	  		 	372	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Margin before profit sharing		 	44	  		 	11	  		 	55	  		 	46	  		 	19	  		 	65	  		 	47	  		 	13	  		 	60	  		 	48	  		 	14	  		 	62	  		 	185	  		 	57	  		 	242	  	
Profit share (1)		 	18	  		 	10	  		 	28	  		 	22	  		 	10	  		 	32	  		 	18	  		 	10	  		 	28	  		 	19	  		 	9	  		 	28	  		 	77	  		 	39	  		 	116	  	
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Underwriting profit (2)		$	26	  		$	1	  		$	27	  		$	24	  		$	9	  		$	33	  		$	29	  		$	3	  		$	32	  		$	29	  		$	5	  		$	34	  		$	108	  		$	18	  		$	126	  	

Loss Ratio		 	28	% 						 	31	% 		 	28	% 						 	28	% 		 	28	% 						 	32	% 		 	26	% 						 	30	% 		 	28	% 						 	30	% 	
																
Underwriting Margin (2)		 	15	% 						 	13	% 		 	13	% 						 	15	% 		 	15	% 						 	13	% 		 	17	% 						 	16	% 		 	15	% 						 	14	% 	
																
Combined Ratio (3)		 	108	% 						 	106	% 		 	108	% 						 	103	% 		 	107	% 						 	104	% 		 	106	% 						 	103	% 		 	107	% 						 	104	% 	
This page is provided as supplemental analysis related to the lifestyle protection insurance business. This business has reinsurance agreements that do not qualify for risk transfer under GAAP. This analysis shows the income statement activity as if these reinsurance agreements, except for the reciprocal arrangements, were accounted for as reinsurance accounting (“pre-deposit accounting basis”) and not as deposit accounting. There is no impact on net income available to Genworth Financial, Inc.’s common stockholders or to segment net operating income. While ‘‘pre-deposit accounting basis” is a non-GAAP measure, management believes that it represents an economic view of the underlying performance of the business. However, pre-deposit accounting basis is not a substitute for income statement activity determined in accordance with GAAP.
The ratios included above were calculated using whole dollars and may be different than the ratio calculated using the rounded numbers included herein.

(1)  	Commissions include commissions which are included above in acquisition and operating expenses, net of deferrals, and amortization of DAC.	
(2)  	The underwriting margin is calculated as underwriting profit divided by net earned premiums.	
(3)  	The combined ratio is calculated as benefits and other changes in policy reserves, commissions (including amortization of DAC), profit share and other operating expenses divided by net earned premiums.	
 
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Runoff Segment
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Income—Runoff Segment
(amounts in millions)

 	    	2015	 	    	2014	 	
 	    	1Q	 	    	4Q	 	    	3Q	 	    	2Q	 	    	1Q	 	    	Total	 	
REVENUES:	    			 	    				    				    				    				    				
Premiums	    	$	—  	  	    	$	 —  	  	    	$	1	  	    	$	1	  	    	$	1	  	    	$	3	  	
Net investment income	    	 	31	  	    	 	32	  	    	 	32	  	    	 	33	  	    	 	32	  	    	 	129	  	
Net investment gains (losses)	    	 	(6	) 	    	 	(23	) 	    	 	(33	) 	    	 	3	  	    	 	(13	) 	    	 	(66	) 	
Insurance and investment product fees and other	    	 	49	  	    	 	51	  	    	 	53	  	    	 	52	  	    	 	53	  	    	 	209	  	
	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	
Total revenues		 	74	  		 	60	  		 	53	  		 	89	  		 	73	  		 	275	  	
	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	7	  		 	10	  		 	13	  		 	6	  		 	8	  		 	37	  	
Interest credited		 	30	  		 	31	  		 	30	  		 	29	  		 	29	  		 	119	  	
Acquisition and operating expenses, net of deferrals		 	19	  		 	22	  		 	22	  		 	20	  		 	20	  		 	84	  	
Amortization of deferred acquisition costs and intangibles		 	5	  		 	13	  		 	5	  		 	10	  		 	11	  		 	39	  	
Interest expense		 	—  	  		 	—  	  		 	—  	  		 	1	  		 	—  	  		 	1	  	
	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	
Total benefits and expenses		 	61	  		 	76	  		 	70	  		 	66	  		 	68	  		 	280	  	
	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	
INCOME (LOSS) BEFORE INCOME TAXES		 	13	  		 	(16	) 		 	(17	) 		 	23	  		 	5	  		 	(5	) 	
Provision (benefit) for income taxes		 	3	  		 	(19	) 		 	(5	) 		 	5	  		 	—  	  		 	(19	) 	
	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	
NET INCOME (LOSS)		 	10	  		 	3	  		 	(12	) 		 	18	  		 	5	  		 	14	  	
	 						
ADJUSTMENT TO NET INCOME (LOSS):				 																					
Net investment (gains) losses, net		 	1	  		 	13	  		 	17	  		 	(3	) 		 	7	  		 	34	  	
	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	    	 	 	 	
NET OPERATING INCOME		$	11	  		$	16	  		$	5	  		$	15	  		$	12	  		$	48	  	

Effective tax rate (operating income)		 	26.7	%  		 	NM 	(1)  		 	48.2	%  		 	16.1	%  		 	25.1	%  		 	-1.0	%  	

(1)  	“NM” is defined as not meaningful for percentages greater than 200%.	
 
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Corporate and Other
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
Net Operating Loss—Corporate and Other (1)
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	  	3Q	 	  	2Q	 	  	1Q	 	  	Total	 	
REVENUES:	  			 	  				  				  				  				  				
Premiums	  	$	—  	  	  	$	—  	  	  	$	 —  	  	  	$	—  	  	  	$	—  	  	  	$	—  	  	
Net investment income	  	 	(6	) 	  	 	2	  	  	 	(9	) 	  	 	1	  	  	 	(9	) 	  	 	(15	) 	
Net investment gains (losses)	  	 	11	  	  	 	6	  	  	 	9	  	  	 	(6	) 	  	 	(5	) 	  	 	4	  	
Insurance and investment product fees and other	  	 	(2	) 	  	 	2	  	  	 	(3	) 	  	 	(1	) 	  	 	—  	  	  	 	(2	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total revenues		 	3	  		 	10	  		 	(3	) 		 	(6	) 		 	(14	) 		 	(13	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
BENEFITS AND EXPENSES:				 																					
Benefits and other changes in policy reserves		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
Interest credited		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
Acquisition and operating expenses, net of deferrals		 	2	  		 	4	  		 	(1	) 		 	9	  		 	6	  		 	18	  	
Amortization of deferred acquisition costs and intangibles		 	1	  		 	1	  		 	1	  		 	—  	  		 	1	  		 	3	  	
Interest expense		 	75	  		 	76	  		 	74	  		 	81	  		 	83	  		 	314	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
Total benefits and expenses		 	78	  		 	81	  		 	74	  		 	90	  		 	90	  		 	335	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
LOSS BEFORE INCOME TAXES		 	(75	) 		 	(71	) 		 	(77	) 		 	(96	) 		 	(104	) 		 	(348	) 	
Provision (benefit) for income taxes		 	(29	) 		 	(46	) 		 	4	  		 	(28	) 		 	(49	) 		 	(119	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET LOSS		 	(46	) 		 	(25	) 		 	(81	) 		 	(68	) 		 	(55	) 		 	(229	) 	
	 						
ADJUSTMENT TO NET LOSS:				 																					
Net investment (gains) losses, net		 	(6	) 		 	(4	) 		 	(7	) 		 	4	  		 	4	  		 	(3	) 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	
NET OPERATING LOSS		$	(52	) 		$	(29	) 		$	(88	) 		$	(64	) 		$	(51	) 		$	(232	) 	

Effective tax rate (operating loss)		 	38.1	%  		 	61.7	%  		 	-0.9	%  		 	28.8	%  		 	47.8	%  		 	34.0	%  	

(1)  	Includes inter-segment eliminations.	
 
55

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Additional Financial Data
 
56

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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Investments Summary
(amounts in millions)

 		 		March 31, 2015	 		December 31, 2014	 		September 30, 2014	 		June 30, 2014	 		March 31, 2014	 	
 		 		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		$	37,115	  		 	47	% 		$	36,684	  		 	47	% 		$	36,587	  		 	48	% 		$	36,726	  		 	48	% 		$	35,526	  		 	48	% 	
Private fixed maturity securities		 	11,494	  		 	14	 		 	11,630	  		 	15	  		 	11,493	  		 	15	  		 	11,608	  		 	15	  		 	11,125	  		 	15	  	
Residential mortgage-backed securities (1)		 	5,022	  		 	6	 		 	5,094	  		 	7	  		 	5,003	  		 	7	  		 	5,057	  		 	7	  		 	4,945	  		 	7	  	
Commercial mortgage-backed securities		 	2,548	  		 	3	 		 	2,491	  		 	3	  		 	2,517	  		 	3	  		 	2,630	  		 	3	  		 	2,656	  		 	4	  	
Other asset-backed securities		 	3,767	  		 	5	 		 	3,669	  		 	5	  		 	3,770	  		 	5	  		 	3,700	  		 	5	  		 	3,343	  		 	4	  	
Tax-exempt		 	360	  		 	1	 		 	361	  		 	—  	  		 	356	  		 	—  	  		 	353	  		 	—  	  		 	317	  		 	—  	  	
Non-investment grade fixed maturity securities		 	2,636	  		 	3	 		 	2,518	  		 	3	  		 	2,591	  		 	4	  		 	2,286	  		 	3	  		 	2,332	  		 	3	  	
Equity securities:								 																																	
Common stocks and mutual funds		 	141	  		 	—  	  		 	194	  		 	—  	  		 	221	  		 	—  	  		 	227	  		 	—  	  		 	260	  		 	—  	  	
Preferred stocks		 	165	  		 	—  	  		 	88	  		 	—  	  		 	92	  		 	—  	  		 	93	  		 	—  	  		 	89	  		 	—  	  	
Commercial mortgage loans		 	6,149	  		 	8	 		 	6,100	  		 	8	  		 	6,077	  		 	8	  		 	5,986	  		 	8	  		 	5,894	  		 	8	  	
Restricted commercial mortgage loans related to securitization entities		 	188	  		 	—  	  		 	201	  		 	—  	  		 	209	  		 	—  	  		 	217	  		 	—  	  		 	227	  		 	—  	  	
Policy loans		 	1,506	  		 	2	 		 	1,501	  		 	2	  		 	1,512	  		 	2	  		 	1,514	  		 	2	  		 	1,438	  		 	2	  	
Cash, cash equivalents and short-term investments		 	5,570	  		 	7	 		 	5,218	  		 	7	  		 	3,655	  		 	5	  		 	4,220	  		 	5	  		 	4,492	  		 	6	  	
Securities lending		 	323	  		 	1	 		 	289	  		 	1	  		 	339	  		 	—  	  		 	277	  		 	—  	  		 	261	  		 	—  	  	
Other invested assets:		Limited partnerships		 	215	  		 	—  	  		 	252	  		 	—  	  		 	262	  		 	—  	  		 	263	  		 	1	  		 	267	  		 	—  	  	
		Derivatives:								 																																	
		Long-term care (LTC) forward starting swap—cash flow		 	948	  		 	1	 		 	639	  		 	1	  		 	252	  		 	—  	  		 	197	  		 	—  	  		 	137	  		 	—  	  	
		Other cash flow		 	9	  		 	—  	  		 	6	  		 	—  	  		 	10	  		 	—  	  		 	20	  		 	—  	  		 	30	  		 	—  	  	
		Equity index options—non-qualified		 	15	  		 	—  	  		 	17	  		 	—  	  		 	11	  		 	—  	  		 	4	  		 	—  	  		 	11	  		 	—  	  	
		Other non-qualified		 	512	  		 	1	 		 	470	  		 	—  	  		 	391	  		 	1	  		 	395	  		 	1	  		 	352	  		 	1	  	
		Trading portfolio		 	218	  		 	—  	  		 	241	  		 	—  	  		 	226	  		 	—  	  		 	226	  		 	—  	  		 	247	  		 	—  	  	
		Counterparty collateral		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	521	  		 	1	  		 	417	  		 	1	  		 	355	  		 	1	  	
		Restricted other invested assets related to securitization entities		 	411	  		 	1	 		 	411	  		 	1	  		 	404	  		 	1	  		 	404	  		 	1	  		 	398	  		 	1	  	
		Other		 	71	  		 	—  	  		 	82	  		 	—  	  		 	91	  		 	—  	  		 	82	  		 	—  	  		 	83	  		 	—  	  	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total invested assets and cash		$	79,383	  		 	100	% 		$	78,156	  		 	100	% 		$	76,590	  		 	100	% 		$	76,902	  		 	100	% 		$	74,785	  		 	100	% 	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Public Fixed Maturity Securities—Credit Quality:		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 	
NRSRO (2) Designation		 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 	
AAA				$	15,647	  		 	33	% 		$	15,743	  		 	34	% 		$	15,459	  		 	33	% 		$	15,552	  		 	33	% 		$	15,338	  		 	34	% 	
AA				 	4,955	  		 	11	 		 	4,844	  		 	10	  		 	4,957	  		 	11	  		 	5,056	  		 	11	  		 	4,759	  		 	10	  	
A				 	14,050	  		 	30	 		 	13,887	  		 	30	  		 	13,823	  		 	30	  		 	13,470	  		 	29	  		 	12,920	  		 	29	  	
BBB				 	10,814	  		 	23	 		 	10,612	  		 	23	  		 	10,753	  		 	23	  		 	11,162	  		 	24	  		 	10,847	  		 	24	  	
BB				 	1,396	  		 	3	 		 	1,362	  		 	3	  		 	1,388	  		 	3	  		 	1,232	  		 	3	  		 	1,251	  		 	3	  	
B				 	76	  		 	—  	  		 	76	  		 	—  	  		 	78	  		 	—  	  		 	82	  		 	—  	  		 	87	  		 	—  	  	
CCC and lower				 	108	  		 	—  	  		 	112	  		 	—  	  		 	113	  		 	—  	  		 	113	  		 	—  	  		 	114	  		 	—  	  	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total public fixed maturity securities		$	47,046	  		 	100	% 		$	46,636	  		 	100	% 		$	46,571	  		 	100	% 		$	46,667	  		 	100	% 		$	45,316	  		 	100	% 	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Private Fixed Maturity Securities—Credit Quality:		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 	
NRSRO (2) Designation		 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 		 	 	
AAA				$	1,528	  		 	10	% 		$	1,597	  		 	10	% 		$	1,585	  		 	10	% 		$	1,636	  		 	10	% 		$	1,554	  		 	10	% 	
AA				 	2,040	  		 	13	 		 	2,104	  		 	14	  		 	1,902	  		 	12	  		 	1,800	  		 	12	  		 	1,661	  		 	11	  	
A				 	5,140	  		 	32	 		 	4,928	  		 	31	  		 	5,034	  		 	32	  		 	5,027	  		 	32	  		 	4,593	  		 	31	  	
BBB				 	6,132	  		 	39	 		 	6,214	  		 	39	  		 	6,213	  		 	39	  		 	6,371	  		 	40	  		 	6,240	  		 	42	  	
BB				 	912	  		 	5	 		 	794	  		 	5	  		 	838	  		 	5	  		 	723	  		 	5	  		 	740	  		 	5	  	
B				 	126	  		 	1	 		 	95	  		 	1	  		 	95	  		 	1	  		 	57	  		 	—  	  		 	57	  		 	—  	  	
CCC and lower				 	18	  		 	—  	  		 	79	  		 	—  	  		 	79	  		 	1	  		 	79	  		 	1	  		 	83	  		 	1	  	
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total private fixed maturity securities		$	15,896	  		 	100	% 		$	15,811	  		 	100	% 		$	15,746	  		 	100	% 		$	15,693	  		 	100	% 		$	14,928	  		 	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.	
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Fixed Maturity Securities Summary
(amounts in millions)

 		March 31, 2015	 		December 31, 2014	 		September 30, 2014	 		June 30, 2014	 		March 31, 2014	 	
 		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	  	$	6,132	  	  	 	10	% 	  	$	6,000	  	  	 	10	% 	 	$	5,642	  	  	 	9	% 	 	$	5,483	  	  	 	9	%	 	$	5,214	  	  	 	9	%	
Tax-exempt	  	 	361	  	  	 	1	 	  	 	362	  	  	 	1	 	 	 	356	  	  	 	1	 	 	 	353	  	  	 	1	 	 	 	317	  	  	 	—  	  	
Foreign government	  	 	2,008	  	  	 	3	 	  	 	2,106	  	  	 	3	 	 	 	2,035	  	  	 	3	 	 	 	2,132	  	  	 	3	 	 	 	2,153	  	  	 	4	 	
U.S. corporate	  	 	27,900	  	  	 	44	 	  	 	27,200	  	  	 	44	 	 	 	26,956	  	  	 	43	 	 	 	26,847	  	  	 	43	 	 	 	26,060	  	  	 	43	 	
Foreign corporate	  	 	14,886	  	  	 	24	 	  	 	15,132	  	  	 	24	 	 	 	15,637	  	  	 	25	 	 	 	15,749	  	  	 	25	 	 	 	15,141	  	  	 	25	 	
Residential mortgage-backed securities	  	 	5,163	  	  	 	8	 	  	 	5,240	  	  	 	8	  	 	 	5,155	  	  	 	8	  	 	 	5,212	  	  	 	8	  	 	 	5,102	  	  	 	8	  	
Commercial mortgage-backed securities	  	 	2,690	  	  	 	4	 	  	 	2,702	  	  	 	4	  	 	 	2,728	  	  	 	5	  	 	 	2,845	  	  	 	5	  	 	 	2,881	  	  	 	5	  	
Other asset-backed securities	  	 	3,802	  	  	 	6	 	  	 	3,705	  	  	 	6	  	 	 	3,808	  	  	 	6	  	 	 	3,739	  	  	 	6	  	 	 	3,376	  	  	 	6	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total fixed maturity securities	  	$	62,942	  	  	 	100	% 	  	$	62,447	  	  	 	100	% 	 	$	62,317	  	  	 	100	% 	 	$	62,360	  	  	 	100	%	 	$	60,244	  	  	 	100	%	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Corporate Bond Holdings—Industry Sector:	  				  			 	  				  				 				  				 				  				 				  				
Investment Grade:	  				  			 	  				  				 				  				 				  				 				  				
Finance and insurance	  	$	7,777	  	  	 	19	% 	  	$	7,687	  	  	 	19	% 	 	$	7,771	  	  	 	19	% 	 	$	7,908	  	  	 	19	% 	 	$	7,506	  	  	 	19	% 	
Utilities and energy	  	 	10,017	  	  	 	25	 	  	 	9,931	  	  	 	25	  	 	 	9,901	  	  	 	25	  	 	 	9,890	  	  	 	24	  	 	 	9,494	  	  	 	24	  	
Consumer—non-cyclical	  	 	4,769	  	  	 	12	 	  	 	4,773	  	  	 	12	  	 	 	4,778	  	  	 	12	  	 	 	4,825	  	  	 	12	  	 	 	4,837	  	  	 	12	  	
Consumer—cyclical	  	 	2,419	  	  	 	6	 	  	 	2,427	  	  	 	6	  	 	 	2,425	  	  	 	6	  	 	 	2,408	  	  	 	6	  	 	 	2,337	  	  	 	6	  	
Capital goods	  	 	2,397	  	  	 	6	 	  	 	2,402	  	  	 	6	  	 	 	2,364	  	  	 	6	  	 	 	2,402	  	  	 	6	  	 	 	2,335	  	  	 	6	  	
Industrial	  	 	2,960	  	  	 	7	 	  	 	2,906	  	  	 	7	  	 	 	2,948	  	  	 	7	  	 	 	2,885	  	  	 	7	  	 	 	2,734	  	  	 	7	  	
Technology and communications	  	 	3,174	  	  	 	8	 	  	 	3,113	  	  	 	8	  	 	 	3,142	  	  	 	8	  	 	 	3,066	  	  	 	8	  	 	 	2,978	  	  	 	8	  	
Transportation	  	 	1,761	  	  	 	4	 	  	 	1,687	  	  	 	4	  	 	 	1,729	  	  	 	4	  	 	 	1,702	  	  	 	4	  	 	 	1,653	  	  	 	4	  	
Other	  	 	5,281	  	  	 	13	 	  	 	5,347	  	  	 	13	  	 	 	5,411	  	  	 	13	  	 	 	5,699	  	  	 	14	  	 	 	5,469	  	  	 	14	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	40,555	  	  	 	100	% 	  	 	40,273	  	  	 	100	% 	 	 	40,469	  	  	 	100	% 	 	 	40,785	  	  	 	100	% 	 	 	39,343	  	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Non-Investment Grade:	  				  			 	  				  				 				  				 				  				 				  				
Finance and insurance	  	 	454	  	  	 	20	% 	  	 	465	  	  	 	23	% 	 	 	483	  	  	 	23	% 	 	 	306	  	  	 	17	% 	 	 	332	  	  	 	18	% 	
Utilities and energy	  	 	448	  	  	 	20	 	  	 	339	  	  	 	17	  	 	 	389	  	  	 	18	  	 	 	338	  	  	 	19	  	 	 	335	  	  	 	18	  	
Consumer—non-cyclical	  	 	268	  	  	 	12	 	  	 	229	  	  	 	11	  	 	 	211	  	  	 	10	  	 	 	217	  	  	 	12	  	 	 	229	  	  	 	12	  	
Consumer—cyclical	  	 	109	  	  	 	5	 	  	 	83	  	  	 	4	  	 	 	64	  	  	 	3	  	 	 	55	  	  	 	3	  	 	 	60	  	  	 	3	  	
Capital goods	  	 	255	  	  	 	11	 	  	 	232	  	  	 	11	  	 	 	291	  	  	 	14	  	 	 	297	  	  	 	16	  	 	 	291	  	  	 	15	  	
Industrial	  	 	271	  	  	 	12	 	  	 	296	  	  	 	14	  	 	 	265	  	  	 	12	  	 	 	252	  	  	 	14	  	 	 	254	  	  	 	14	  	
Technology and communications	  	 	346	  	  	 	16	 	  	 	336	  	  	 	16	  	 	 	358	  	  	 	17	  	 	 	318	  	  	 	17	  	 	 	330	  	  	 	18	  	
Transportation	  	 	18	  	  	 	1	 	  	 	19	  	  	 	1	  	 	 	20	  	  	 	1	  	 	 	16	  	  	 	1	  	 	 	15	  	  	 	1	  	
Other	  	 	62	  	  	 	3	 	  	 	60	  	  	 	3	  	 	 	43	  	  	 	2	  	 	 	12	  	  	 	1	  	 	 	12	  	  	 	1	  	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	2,231	  	  	 	100	% 	  	 	2,059	  	  	 	100	% 	 	 	2,124	  	  	 	100	% 	 	 	1,811	  	  	 	100	% 	 	 	1,858	  	  	 	100	% 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total	  	$	42,786	  	  	 	100	% 	  	$	42,332	  	  	 	100	% 	 	$	42,593	  	  	 	100	% 	 	$	42,596	  	  	 	100	%	 	$	41,201	  	  	 	100	%	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Fixed Maturity Securities—Contractual Maturity Dates:	  				  			 	  				  				 				  				 				  				 				  				
	 	 									
Due in one year or less	  	$	2,077	  	  	 	3	% 	  	$	2,326	  	  	 	4	% 	 	$	2,640	  	  	 	4	% 	 	$	2,784	  	  	 	4	%	 	$	3,118	  	  	 	5	%	
Due after one year through five years	  	 	11,552	  	  	 	18	 	  	 	11,410	  	  	 	19	 	 	 	11,009	  	  	 	18	 	 	 	10,701	  	  	 	17	 	 	 	10,257	  	  	 	17	 	
Due after five years through ten years	  	 	12,343	  	  	 	20	 	  	 	12,496	  	  	 	20	 	 	 	13,113	  	  	 	21	 	 	 	13,401	  	  	 	22	 	 	 	12,915	  	  	 	21	 	
Due after ten years	  	 	25,315	  	  	 	41	 	  	 	24,568	  	  	 	39	 	 	 	23,864	  	  	 	38	 	 	 	23,678	  	  	 	38	 	 	 	22,595	  	  	 	38	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Subtotal	  	 	51,287	  	  	 	82	 	  	 	50,800	  	  	 	82	 	 	 	50,626	  	  	 	81	 	 	 	50,564	  	  	 	81	 	 	 	48,885	  	  	 	81	 	
Mortgage and asset-backed securities	  	 	11,655	  	  	 	18	 	  	 	11,647	  	  	 	18	 	 	 	11,691	  	  	 	19	 	 	 	11,796	  	  	 	19	 	 	 	11,359	  	  	 	19	 	
	  	 	 	 	  	 	 	 	  	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	 	 	 	 	  	 	 	 	
Total fixed maturity securities	  	$	62,942	  	  	 	100	% 	  	$	62,447	  	  	 	100	% 	 	$	62,317	  	  	 	100	% 	 	$	62,360	  	  	 	100	%	 	$	60,244	  	  	 	100	%	

 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 General Account GAAP Net Investment Income Yields
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
GAAP Net Investment Income	  			 	  				 				 				 				 				
Fixed maturity securities—taxable	  	$	639	  	  	$	666	  	 	$	651	  	 	$	666	  	 	$	648	  	 	$	2,631	  	
Fixed maturity securities—non-taxable	  	 	3	  	  	 	3	  	 	 	3	  	 	 	3	  	 	 	3	  	 	 	12	  	
Commercial mortgage loans	  	 	85	  	  	 	87	  	 	 	82	  	 	 	81	  	 	 	83	  	 	 	333	  	
Restricted commercial mortgage loans related to securitization entities	  	 	4	  	  	 	3	  	 	 	3	  	 	 	4	  	 	 	4	  	 	 	14	  	
Equity securities	  	 	4	  	  	 	3	  	 	 	3	  	 	 	4	  	 	 	4	  	 	 	14	  	
Other invested assets	  	 	48	  	  	 	37	  	 	 	36	  	 	 	26	  	 	 	39	  	 	 	138	  	
Limited partnerships	  	 	7	  	  	 	2	  	 	 	10	  	 	 	13	  	 	 	11	  	 	 	36	  	
Restricted other invested assets related to securitization entities	  	 	1	  	  	 	2	  	 	 	1	  	 	 	1	  	 	 	1	  	 	 	5	  	
Policy loans	  	 	33	  	  	 	34	  	 	 	32	  	 	 	32	  	 	 	31	  	 	 	129	  	
Cash, cash equivalents and short-term investments	  	 	3	  	  	 	5	  	 	 	7	  	 	 	7	  	 	 	5	  	 	 	24	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees		 	827	  		 	842	  		 	828	  		 	837	  		 	829	  		 	3,336	  	
Expenses and fees		 	(24	) 		 	(23	) 		 	(23	) 		 	(24	) 		 	(24	) 		 	(94	) 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income		$	803	  		$	819	  		$	805	  		$	813	  		$	805	  		$	3,242	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Annualized Yields				 																					
Fixed maturity securities—taxable		 	4.5	% 		 	4.7	% 		 	4.6	% 		 	4.7	% 		 	4.6	% 		 	4.6	% 	
Fixed maturity securities—non-taxable		 	3.5	% 		 	3.5	% 		 	3.4	% 		 	3.5	% 		 	3.7	% 		 	3.5	% 	
Commercial mortgage loans		 	5.6	% 		 	5.7	% 		 	5.4	% 		 	5.5	% 		 	5.6	% 		 	5.6	% 	
Restricted commercial mortgage loans related to securitization entities		 	8.2	% 		 	5.8	% 		 	6.6	% 		 	6.7	% 		 	7.0	% 		 	6.6	% 	
Equity securities		 	6.0	% 		 	4.5	% 		 	4.2	% 		 	5.3	% 		 	5.1	% 		 	4.8	% 	
Other invested assets		 	88.1	% 		 	62.4	% 		 	58.6	% 		 	40.5	% 		 	56.9	% 		 	54.6	% 	
Limited partnerships (1)		 	12.0	% 		 	3.1	% 		 	15.3	% 		 	19.6	% 		 	16.1	% 		 	13.6	% 	
Restricted other invested assets related to securitization entities		 	1.0	% 		 	2.1	% 		 	1.0	% 		 	1.0	% 		 	1.0	% 		 	1.3	% 	
Policy loans		 	8.8	% 		 	9.0	% 		 	8.5	% 		 	8.7	% 		 	8.6	% 		 	8.7	% 	
Cash, cash equivalents and short-term investments		 	0.2	% 		 	0.5	% 		 	0.7	% 		 	0.6	% 		 	0.4	% 		 	0.5	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross investment income before expenses and fees		 	4.6	% 		 	4.7	% 		 	4.7	% 		 	4.7	% 		 	4.7	% 		 	4.7	% 	
Expenses and fees		 	-0.1	% 		 	-0.1	% 		 	-0.1	% 		 	-0.1	% 		 	-0.1	% 		 	-0.1	% 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment income		 	4.5	% 		 	4.6	% 		 	4.6	% 		 	4.6	% 		 	4.6	% 		 	4.6	% 	

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 63 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 2015
 Net Investment Gains (Losses), Net—Detail (1)
(amounts in millions)

 	  	2015	 	  	2014	 	
 	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
Net realized gains (losses) on available-for-sale securities:	  			 	  				 				 				 				 				
Fixed maturity securities:	  			 	  				 				 				 				 				
U.S. corporate	  	$	 —  	  	  	$	1	  	 	$	5	  	 	$	(6	) 	 	$	(9	) 	 	$	(9	)	
U.S. government, agencies and government-sponsored enterprises	  	 	1	  	  	 	1	  	 	 	—  	  	 	 	2	  	 	 	—  	  	 	 	3	 	
Foreign corporate	  	 	(5	) 	  	 	1	  	 	 	2	  	 	 	13	  	 	 	(2	) 	 	 	14	 	
Foreign government	  	 	—  	  	  	 	1	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	1	 	
Tax-exempt	  	 	—  	  	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	(1	) 	 	 	(1	)	
Mortgage-backed securities	  	 	—  	  	  	 	—  	  	 	 	(1	) 	 	 	—  	  	 	 	—  	  	 	 	(1	)	
Equity securities	  	 	5	  	  	 	1	  	 	 	2	  	 	 	6	  	 	 	1	  	 	 	10	 	
Foreign exchange	  	 	1	  	  	 	—  	  	 	 	—  	  	 	 	1	  	 	 	—  	  	 	 	1	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total net realized gains (losses) on available-for-sale securities		 	2	  		 	5	  		 	8	  		 	16	  		 	(11	) 		 	18	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Impairments:				 																					
Alt-A residential mortgage-backed securities		 	—  	  		 	—  	  		 	(1	) 		 	—  	  		 	—  	  		 	(1	)	
Financial hybrid securities		 	—  	  		 	—  	  		 	(3	) 		 	—  	  		 	—  	  		 	(3	)	
Commercial mortgage loans		 	(2	) 		 	—  	  		 	—  	  		 	(1	) 		 	(1	) 		 	(2	)	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total impairments		 	(2	) 		 	—  	  		 	(4	) 		 	(1	) 		 	(1	) 		 	(6	)	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net unrealized gains (losses) on trading securities		 	4	  		 	10	  		 	3	  		 	5	  		 	8	  		 	26	 	
Derivative instruments		 	(21	) 		 	(24	) 		 	(25	) 		 	(4	) 		 	(14	) 		 	(67	)	
Limited partnerships		 	—  	  		 	—  	  		 	—  	  		 	(1	) 		 	—  	  		 	(1	)	
Commercial mortgage loans held-for-sale market valuation allowance		 	1	  		 	2	  		 	2	  		 	2	  		 	2	  		 	8	 	
Restricted commercial mortgage loans and other invested assets related to securitization entities		 	5	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  		 	—  	  	
Contingent purchase price valuation change		 	—  	  		 	—  	  		 	(1	) 		 	—  	  		 	—  	  		 	(1	)	
Net gains (losses) related to securitization entities		 	—  	  		 	1	  		 	(1	) 		 	6	  		 	4	  		 	10	 	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), net of taxes		 	(11	) 		 	(6	) 		 	(18	) 		 	23	  		 	(12	) 		 	(13	)	
Adjustment for DAC and other intangible amortization and certain benefit reserves, net of taxes		 	4	  		 	1	  		 	6	  		 	1	  		 	1	  		 	9	 	
Adjustment for net investment (gains) losses attributable to noncontrolling interests, net of taxes		 	5	  		 	1	  		 	2	  		 	(4	) 		 	1	  		 	—  	  	
	  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net investment gains (losses), net		$	(2	) 		$	(4	) 		$	(10	) 		$	20	  		$	(10	) 		$	(4	)	

 

(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 2015
 Reconciliation of Operating ROE
(amounts in millions)

Twelve Month Rolling Average ROE	  	Twelve months ended	 	
 	  	March 31,
2015	 	 	December 31,
2014	 	 	September 30,
2014	 	 	June 30,
2014	 	 	March 31,
2014	 	
GAAP Basis ROE	  				 				 				 				 				
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the twelve months ended (1)	  	$	(1,274	) 	 	$	(1,244	) 	 	$	(276	) 	 	$	676	  	 	$	641	 	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss) (2)	  	$	11,288	  	 	$	11,532	  	 	$	11,770	  	 	$	11,833	  	 	$	11,699	 	
GAAP Basis ROE (1)/(2)	  	 	-11.3	% 	 	 	-10.8	% 	 	 	-2.3	% 	 	 	5.7	% 	 	 	5.5	%	
						
Operating ROE	  				 				 				 				 				
Net operating income (loss) for the twelve months ended (1)	  	$	(419	) 	 	$	(381	) 	 	$	228	  	 	$	684	  	 	$	659	 	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss) (2)	  	$	11,288	  	 	$	11,532	  	 	$	11,770	  	 	$	11,833	  	 	$	11,699	 	
Operating ROE (1)/(2)	  	 	-3.7	% 	 	 	-3.3	% 	 	 	1.9	% 	 	 	5.8	% 	 	 	5.6	%	
		
Quarterly Average ROE	  	Three months ended	 	
 	  	March 31,
2015	 	 	December 31,
2014	 	 	September 30,
2014	 	 	June 30,
2014	 	 	March 31,
2014	 	
GAAP Basis ROE	  				 				 				 				 				
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the period ended (3)	  	$	154	  	 	$	(760	) 	 	$	(844	) 	 	$	176	  	 	$	184	 	
Average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss) (4)	  	$	10,555	  	 	$	10,854	  	 	$	11,651	  	 	$	12,051	  	 	$	11,942	 	
Annualized GAAP Quarterly Basis ROE (3)/(4)	  	 	5.8	% 	 	 	-28.0	% 	 	 	-29.0	% 	 	 	5.8	% 	 	 	6.2	%	
						
Operating ROE	  				 				 				 				 				
Net operating income (loss) for the period ended (3)	  	$	156	  	 	$	(416	) 	 	$	(317	) 	 	$	158	  	 	$	194	 	
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss) (4)	  	$	10,555	  	 	$	10,854	  	 	$	11,651	  	 	$	12,051	  	 	$	11,942	 	
Annualized Operating Quarterly Basis ROE (3)/(4) 	  	 	5.9	% 	 	 	-15.3	% 	 	 	-10.9	% 	 	 	5.2	% 	 	 	6.5	%	
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 2015
 Reconciliation of Core Yield

 	 	 	  	2015	 	  	2014	 	
 	 	(Assets—amounts in billions)	  	1Q	 	  	4Q	 	 	3Q	 	 	2Q	 	 	1Q	 	 	Total	 	
	 	Reported—Total Invested Assets and Cash	  	$	79.4	  	  	$	78.2	  	 	$	76.6	  	 	$	76.9	  	 	$	74.8	  	 	$	78.2	 	
	 	Subtract:	  			 	  				 				 				 				 				
	 	Securities lending	  	 	0.3	  	  	 	0.3	  	 	 	0.3	  	 	 	0.3	  	 	 	0.3	  	 	 	0.3	 	
	 	Unrealized gains (losses)	  	 	7.9	  	  	 	6.7	  	 	 	5.4	  	 	 	5.6	  	 	 	4.3	  	 	 	6.7	 	
	 	Derivative counterparty collateral	  	 	—  	  	  	 	—  	  	 	 	0.5	  	 	 	0.4	  	 	 	0.4	  	 	 	—  	  	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
		Adjusted end of period invested assets and cash		$	71.2	  		$	71.2	  		$	70.4	  		$	70.6	  		$	69.8	  		$	71.2	 	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(A)		Average Invested Assets and Cash Used in Reported Yield Calculation		$	71.2	  		$	70.8	  		$	70.5	  		$	70.2	  		$	69.7	  		$	70.3	 	
		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		 	71.0	  		 	70.6	  		 	70.3	  		 	70.0	  		 	69.5	  		 	70.1	 	
		Subtract:				 																					
		Portfolios supporting floating products and non-recourse funding obligations (2)		 	3.7	  		 	3.9	  		 	4.0	  		 	4.2	  		 	4.3	  		 	4.1	 	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(C)		Average Invested Assets and Cash Used in Core Yield (excl. Floating and Non-Recourse Funding) Calculation		$	67.3	  		$	66.7	  		$	66.3	  		$	65.8	  		$	65.2	  		$	66.0	 	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
	 	(Income—amounts in millions)	  			 	  				 				 				 				 				
		 						
(D)	 	Reported—Net Investment Income	  	$	803	  	  	$	819	  	 	$	805	  	 	$	813	  	 	$	805	  	 	$	3,242	 	
	 	Subtract:	  			 	  				 				 				 				 				
	 	Bond calls and commercial mortgage loan prepayments	  	 	14	  	  	 	18	  	 	 	17	  	 	 	7	  	 	 	10	  	 	 	52	 	
	 	Reinsurance (3)	  	 	15	  	  	 	14	  	 	 	19	  	 	 	13	  	 	 	22	  	 	 	68	 	
	 	Other non-core items (4)	  	 	12	  	  	 	12	  	 	 	(18	) 	 	 	12	  	 	 	5	  	 	 	11	 	
	 	Restricted commercial mortgage loans and other invested assets related to securitization entities (1)	  	 	3	  	  	 	2	  	 	 	3	  	 	 	3	  	 	 	3	  	 	 	11	 	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(E)		Core Net Investment Income		 	759	  		 	773	  		 	784	  		 	778	  		 	765	  		 	3,100	 	
		Subtract:				 																					
		Investment income from portfolios supporting floating products and non-recourse funding obligations (2)		 	20	  		 	21	  		 	22	  		 	23	  		 	21	  		 	87	 	
	 		  	 	 	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(F)		Core Net Investment Income (excl. Floating and Non-Recourse Funding)		$	739	  		$	752	  		$	762	  		$	755	  		$	744	  		$	3,013	 	

(D) / (A)		Reported Yield		 	4.51	% 		 	4.63	% 		 	4.57	% 		 	4.63	% 		 	4.62	% 		 	4.61	%	
(E) / (B)		Core Yield		 	4.28	% 		 	4.38	% 		 	4.46	% 		 	4.45	% 		 	4.40	% 		 	4.42	%	
(F) / (C)		Core Yield (excl. Floating and Non-Recourse Funding)		 	4.39	% 		 	4.51	% 		 	4.60	% 		 	4.59	% 		 	4.56	% 		 	4.57	%	

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)  	Represents imputed investment income related to reinsurance agreements in the lifestyle protection insurance business.	
(4)  	Includes cost basis adjustments on structured securities, preferred stock income and various other immaterial items.	
 
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Corporate Information
 
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GENWORTH FINANCIAL, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2015
 Financial Strength Ratings As Of April 27, 2015

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 Financial Mortgage Insurance Pty. Limited (Australia) (1)	  	A+	  	A3	  	Not rated	
Genworth Financial Mortgage Insurance Limited (Europe)	  	BB-	  	Not rated	  	Not rated	
Genworth Financial Mortgage Insurance Company Canada (2)	  	A+	  	Not rated	  	Not rated	
Genworth Seguros de Credito a la Vivienda S.A. de C.V. (3)	  	Not rated	  	Aa3.mx	  	Not rated	
Genworth Mortgage Insurance Corporation	  	BB-	  	Ba1	  	Not rated	
Genworth Residential Mortgage Insurance Corporation of NC	  	BB-	  	Ba1	  	Not rated	
Genworth Life Insurance Company	  	BBB-	  	Baa1	  	A-	
Genworth Life and Annuity Insurance Company	  	BBB-	  	Baa1	  	A-	
Genworth Life Insurance Company of New York	  	BBB-	  	Baa1	  	A-	
Financial Assurance Company Limited	  	A-	  	Not rated	  	Not rated	
Financial Insurance Company Limited	  	A-	  	Not rated	  	Not rated	

(1)  	Genworth Financial Mortgage Insurance Pty. Limited (Australia) is also rated “A+” by Fitch Rating Service (Fitch).	
(2)  	Genworth Financial Mortgage Insurance Company Canada is also rated “AA” by Dominion Bond Rating Service (DBRS).	
(3)  	Genworth Seguros de Credito a la Vivienda S.A. de C.V. is also rated “Baa3” by Moody’s on a Global Scale Insurance financial strength basis.	
The S&P, Moody’s, A.M. Best, Fitch and DBRS 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), “BBB” (Good) or “BB” (Marginal) have strong, good or marginal financial security characteristics, respectively. The “A,” “BBB” and “BB” ranges are the third-, fourth- and fifth-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+,” “A-,” “BBB-” and “BB-” ratings are the fifth-, seventh-, tenth- and thirteenth-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,” “Baa1” and “Ba1” ratings are the seventh-, eighth- and eleventh-highest, respectively, of Moody’s 21 ratings categories. Issuers or issues rated “Aa.mx” demonstrate very strong creditworthiness relative to other issuers in Mexico.
A.M. Best states that the “A-” (Excellent) rating is assigned to those companies that have, in its opinion, an excellent ability to meet their ongoing insurance obligations. The “A-” (Excellent) rating is the fourth-highest of 15 ratings assigned by A.M. Best, which range from “A++” to “F.”
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.
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.
S&P, Moody’s, A.M. Best, Fitch and DBRS 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.
 
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