8-K

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

May 2, 2017

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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02 Results of Operations and Financial Condition.

On May 2, 2017, Genworth Financial, Inc. (the “Company”) issued (1) a press release announcing its financial results for the quarter ended March 31, 2017, 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, 2017, a copy of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure

On May 2, 2017, the Company also issued its First Quarter 2017 earnings summary presentation, a copy of which is attached hereto as Exhibit 99.3 and is incorporated herein by reference.

The press release, the financial supplement and the earnings summary presentation are also available on the Company’s website, www.genworth.com, under the “Investors” section.

The information furnished pursuant to Items 2.02 and 7.01, including Exhibits 99.1, 99.2 and 99.3, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the company under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. 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 May 2, 2017.
99.2	Financial Supplement for the quarter ended March 31, 2017.
99.3	First Quarter 2017 Earnings Summary Presentation issued May 2, 2017.

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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: May 2, 2017	By:	/s/ Matthew D. Farney
		Matthew D. Farney
		Vice President and Controller
		(Principal Accounting Officer)

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Exhibit Index

Exhibit Number	Description of Exhibit
99.1	Press Release dated May 2, 2017.
99.2	Financial Supplement for the quarter ended March 31, 2017.
99.3	First Quarter 2017 Earnings Summary Presentation issued May 2, 2017.

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EX-99.1

Exhibit 99.1

Genworth Financial Announces First Quarter 2017 Results

Net Income Of $155 Million And Adjusted Operating Income Of $143 Million

• Stockholder Approval Of Acquisition By China Oceanwide Holdings Group Co., Ltd. (Oceanwide) March 7, 2017 With Approximately 96 Percent of Votes Cast Voting in Favor of the Merger

• All Regulatory Filings For The Oceanwide Acquisition Submitted

• Progress Made On U.S. Life Restructuring Plan With Several Internal Reinsurance Transactions Completed Effective April 1, 2017

• Net Income¹ And Adjusted Operating Income² Includes An Unfavorable Item In Long Term Care Insurance (LTC) Relating To Guaranty Fund Assessments For The Penn Treaty Plan Of Liquidation Of $14 Million After-Tax, Or $0.03 Per Diluted Share

• LTC Results Benefitted From Seasonally Favorable Existing Claim Experience

• Strong Loss Ratio And Capital Levels In The First Quarter For U.S. And Canada Mortgage Insurance (MI)

• U.S. MI First Quarter Of 2017 Adjusted Operating Income Increased 20 Percent Compared To The First Quarter Of 2016

• Holding Company Cash And Liquid Assets Of Approximately $1.0 Billion

Richmond, VA (May 2, 2017) – Genworth Financial, Inc. (NYSE: GNW) today reported results for the period ended March 31, 2017. The company reported net income of $155 million, or $0.31 per diluted share, in the first quarter of 2017, compared with net income of $53 million, or $0.11 per diluted share, in the first quarter of 2016. The adjusted operating income for the first quarter of 2017 was $143 million, or $0.29 per diluted share, compared with adjusted operating income of $103 million, or $0.21 per diluted share, in the first quarter of 2016. Net income and adjusted operating income in the quarter were each reduced by $14 million after-tax, or $0.03 per diluted share, relating to state guaranty fund assessments for the Penn Treaty Network American Insurance Company and American Network Insurance Company (Penn Treaty) plan of liquidation.

¹  Unless otherwise stated, all references in this press release to net income (loss), net income (loss) per share, adjusted operating income (loss), adjusted operating income (loss) per share and book value per share should be read as net income (loss) available to Genworth’s common stockholders, net income (loss) available to Genworth’s common stockholders per diluted share, adjusted operating income (loss) available to Genworth’s common stockholders, adjusted operating income (loss) available to Genworth’s common stockholders per diluted share and book value available to Genworth’s common stockholders per share, respectively.

²  This is a financial measure that is 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.

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Strategic Update

At a special meeting held on March 7, 2017, Genworth stockholders voted to approve the proposed transaction with Oceanwide, under which Oceanwide has agreed to acquire Genworth for a total transaction value of approximately $2.7 billion, or $5.43 per share, in cash. Approximately 96 percent of votes cast were voted in favor of the merger, which represented 71 percent of Genworth’s total outstanding shares of common stock.

Genworth and Oceanwide continue to work diligently to satisfy the closing conditions under the merger agreement. On April 28, 2017, Genworth and Oceanwide withdrew and re-filed the joint voluntary notice to the Committee on Foreign Investment in the United States (“CFIUS”) to permit more time for review and discussion with CFIUS. All other filings required under the merger agreement for regulatory approval of the transaction have been submitted. The closing of the proposed transaction remains subject to conditions, including the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions. Genworth and Oceanwide are engaged with the relevant regulators regarding the pending applications and continue to target closing the transaction in the middle of 2017.

“Led by U.S. MI, our mortgage insurance platform continues to perform well and we are making progress against our U.S. Life restructuring and LTC rate action plans,” said Tom McInerney, President and CEO of Genworth. “Genworth continues to work to complete the pending transaction with Oceanwide and focus on our key financial and operational priorities, including our multi-year LTC rate action plan.”

Financial Performance

Consolidated Net Income & Adjusted Operating Income
	Three months ended March 31 (Unaudited)
	2017				2016
(Amounts in millions, except per share)	Total		Per diluted share		Total		Per diluted share		Total % change
Net Income available to Genworth’s common stockholders	$	155	$	0.31	$	53	$	0.11		192	%
Adjusted operating income	$	143	$	0.29	$	103	$	0.21		39	%
Weighted-average diluted shares		501.0				499.4

	Three months ended March 31 (Unaudited)
	2017		2016
Book value per share	$	25.68	$	28.19
Book value per share, excluding accumulated other comprehensive income (loss)	$	19.47	$	19.80

Net income in the first quarter of 2017 benefitted from net investment gains, net of taxes and other adjustments, of $13 million in the quarter. Net income in the first quarter of 2016 was reduced by net investment losses, net of taxes and other adjustments, of $13 million, a net after-tax loss of $11 million for early extinguishment of Genworth Holdings’ senior notes, an after-tax loss of $6 million on a life block transaction, restructuring costs of $9 million after-tax and after-tax fees incurred related to a bond consent solicitation of $12 million.

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Net investment income was $790 million in the quarter, up from $786 million in the prior quarter and up from $789 million in the prior year. Net investment income continues to reflect variability in prepayment speed adjustments related to residential mortgage-backed securities and other variable investment income, as well as higher average invested assets supporting our LTC business. The reported yield and the core yield² for the quarter were 4.53 percent and 4.48 percent, respectively.

Adjusted operating income (loss) results are summarized in the table below:

Adjusted Operating Income (Loss)
(Amounts in millions)	Q1 17			Q4 16			Q1 16
U.S. Mortgage Insurance	$	73		$	61		$	61
Canada Mortgage Insurance		36			39			33
Australia Mortgage Insurance		13			14			19
U.S. Life Insurance		53			(154	)		91
Runoff		14			6			4
Corporate and Other		(46	)		(103	)		(105	)
Total Adjusted Operating Income (Loss)	$	143		$	(137	)	$	103

Adjusted operating income (loss) represents income (loss) from continuing operations excluding net investment gains (losses), 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 income (loss) to adjusted operating income (loss) of segments and Corporate and Other activities is included at the end of this press release.

Unless specifically noted in the discussion of results for the MI businesses in Canada and Australia, references to percentage changes exclude the impact of translating foreign denominated activity into U.S. dollars (foreign exchange). Percentage changes, which include the impact of foreign exchange, are found in a table at the end of this press release.

U.S. Mortgage Insurance

Operating Metrics
(Dollar amounts in millions)	Q1 17			Q4 16			Q1 16
Adjusted operating income	$	73		$	61		$	61
New insurance written
Primary Flow	$	7,600		$	11,100		$	7,400
Loss ratio		17	%		28	%		24	%

U.S. MI reported adjusted operating income of $73 million, compared with $61 million in both the prior quarter and the prior year. The loss ratio in the current quarter was 17 percent, down eleven points sequentially driven primarily by strong seasonal net cures and aging benefits and down seven points from the prior year primarily reflecting the continued decline and improved performance in delinquencies from the 2005 to 2008 book years.

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Flow NIW of $7.6 billion decreased 32 percent from the prior quarter from a seasonally smaller purchase originations market, but increased three percent versus the prior year primarily from a larger purchase originations market. U.S. MI’s flow insurance in force grew 13 percent in the first quarter of 2017 versus the first quarter of 2016 driven primarily by an expanded originations market.

Canada Mortgage Insurance

Operating Metrics (Dollar amounts in millions)	Q1 17			Q4 16			Q1 16
Adjusted operating income	$	36		$	39		$	33
New insurance written
Flow	$	2,300		$	3,900		$	2,500
Bulk	$	8,000		$	3,700		$	3,200
Loss ratio		16	%		18	%		24	%

Canada MI reported adjusted operating income of $36 million versus $39 million in the prior quarter and $33 million in the prior year. The loss ratio in the quarter was 16 percent, down two points from the prior quarter from lower average reserve per delinquency and down eight points compared to the prior year from a decrease in new delinquencies, net of cures. Results in the quarter reflect higher expenses both sequentially and versus the prior year from higher share based compensation.

Flow NIW was down 41 percent³ sequentially primarily from a seasonally smaller originations market and down 12 percent³ from the prior year primarily from a smaller market size. In addition, the company completed several bulk transactions in the quarter of $8.0 billion in the aggregate, consisting of high quality low loan-to-value prime loans. Effective March 17, 2017, Canada MI increased its flow mortgage insurance premium rates for new insured mortgages an average of approximately 20 percent to reflect the regulatory capital framework that came into effect on January 1, 2017.

³  Percent change excludes the impact of foreign exchange.

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Australia Mortgage Insurance

Operating Metrics
(Dollar amounts in millions)	Q1 17			Q4 16			Q1 16
Adjusted operating income	$	13		$	14		$	19
New insurance written
Flow	$	4,100		$	5,000		$	4,400
Bulk	$	1,000		$	—		$	—
Loss ratio		35	%		30	%		26	%

Australia MI reported adjusted operating income of $13 million versus $14 million in the prior quarter and $19 million in the prior year. The loss ratio in the quarter was 35 percent, up five points sequentially from seasonally lower net cures and aging benefits and up nine points from the prior year from continued unfavorable experience from the commodity dependent regions of Queensland and Western Australia.

Flow NIW was down 18 percent³ sequentially from a seasonally smaller originations market and down 11 percent³ from the prior year from lower levels of high loan to value lending.

U.S. Life Insurance

Operating Metrics
(Amounts in millions)	Q1 17		Q4 16			Q1 16
Adjusted operating income (loss)
Long Term Care Insurance	$	14	$	(1	)	$	34
Life Insurance		16		(193	)		31
Fixed Annuities		23		40			26
Total U.S. Life Insurance	$	53	$	(154	)	$	91
Sales
Long Term Care Insurance
Individual	$	2	$	1		$	5
Group		1		1			2
Life Insurance
Term Life		—		—			5
Universal Life		1		—			2
Linked Benefits		—		—			2
Fixed Annuities		1		—			168

Long Term Care Insurance

LTC reported adjusted operating income of $14 million, compared with an adjusted operating loss of $1 million in the prior quarter and adjusted operating income of $34 million in the prior year. Results versus the prior quarter reflected seasonally favorable existing claim experience and higher reserve releases from reduced benefit elections by in-force policyholders as Genworth continues to implement its LTC rate action plan. Results in the quarter also reflect higher new claims growth versus both the prior quarter and prior year. Results in the quarter included an accrual for state guaranty fund assessments of $14 million after-tax relating to the Penn Treaty plan of liquidation.    

Life Insurance

Life insurance reported adjusted operating income of $16 million, compared with an adjusted operating loss of $193 million in the prior quarter and adjusted operating income of $31 million in the prior year. Results in the

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prior quarter reflected a $196 million after-tax charge related to the company’s annual review of life insurance assumptions. Results versus the prior quarter also reflected higher variable investment income and improved mortality. Results versus the prior year reflected higher reserve impacts from the fourth quarter of 2016 assumption review, lower variable investment income and unfavorable term mortality, partially offset by lower reinsurance financing costs.

Fixed Annuities

Fixed annuities reported adjusted operating income of $23 million, compared with $40 million in the prior quarter and $26 million in the prior year. Results in the quarter reflected favorable impacts from single premium immediate annuity mortality experience versus the prior quarter. Results in the prior quarter include a $6 million after-tax favorable adjustment related to state guaranty funds and a $10 million after-tax favorable impact related to an update of lapse assumptions and other refinements.

Runoff

Runoff reported adjusted operating income of $14 million compared with $6 million in the prior quarter and $4 million in the prior year. Results versus the prior quarter and prior year were primarily driven by improved equity market performance.

Corporate And Other

Corporate and Other reported an adjusted operating loss of $46 million, compared with $103 million in the prior quarter and $105 million in the prior year. Results in the current quarter reflected lower interest expense associated with our junior subordinated notes due to the interest rate change from fixed to floating rate and a correction to our Tax Matters Agreement liability. Results in the prior quarter reflected $29 million of deferred tax charges and an increase in professional fees and legal expenses associated with the Oceanwide transaction and pending litigation.

Capital & Liquidity

Genworth maintains the following capital positions in its operating subsidiaries:

Key Capital & Liquidity Metrics
(Dollar amounts in millions)	Q1 17			Q4 16			Q1 16
U.S. MI
Consolidated Risk-To-Capital Ratio4		13.6:1			14.4:1			15.3:1
Genworth Mortgage Insurance Corporation Risk-To-Capital Ratio4		13.7:1			14.5:1			15.5:1
Private Mortgage Insurer Eligibility Requirements (PMIERs) Sufficiency Ratio5		118	%		115	%		113	%
Canada MI
Minimum Capital Test (MCT) – New Regulatory Framework Effective January 1, 20174		162	%		245	%		234	%
Australia MI
Prescribed Capital Amount (PCA) Ratio4		171	%		157	%		168	%
U.S. Life Insurance Companies
Consolidated Risk-Based Capital (RBC) Ratio4		326	%		329	%		373	%
Holding Company Cash6 and Liquid Assets7	$	999		$	1,098		$	760

⁴  Company estimate for the first quarter of 2017, due to timing of the filing of statutory statements; The MCT Ratio for Canada MI in the first quarter of 2017 reflects the new regulatory framework effective January 1, 2017. The Consolidated RBC Ratio for the U.S. Life Insurance companies in the first quarter of 2016 is restated to reflect the merger of Brookfield Life Annuity Insurance Company with and into Genworth Life Insurance Company as if the merger occurred January 1, 2015.

⁵  Calculated as available assets divided by required assets as defined within PMIERs. As of March 31, 2017, December 31, 2016 and March 31, 2016, the PMIERs sufficiency ratios were in excess of approximately $400 million, $350 million and $300 million, respectively, of available assets above the PMIERs requirements. Company estimate for the first quarter of 2017.

⁶  Holding company cash and liquid assets comprises assets held in Genworth Holdings, Inc. (the issuer of outstanding public debt) which is a wholly-owned subsidiary of Genworth Financial, Inc.

⁷  Comprises cash and cash equivalents of $849 million, $998 million and $760 million, respectively, and U.S. government bonds of $150 million, $100 million and zero, respectively, as of March 31, 2017, December 31, 2016 and March 31, 2016.

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Key Points

• U.S. MI’s PMIERs sufficiency ratio of 118 percent increased in the quarter from a reduction in required assets due to seasonal cure benefits and Canada MI stock valuation improvement;

• Canada MI’s MCT ratio as of March 31, 2017 under the new capital framework is estimated to be 162 percent, above the recalibrated regulatory minimum requirement of 150 percent and within a target range of 160 to 165 percent;

• Australia MI’s capital levels improved sequentially driven primarily by portfolio seasoning;

• The holding company ended the quarter with $999 million of cash and liquid assets, representing a buffer of approximately $570 million in excess of restricted cash and liquid assets and one and a half times annual debt service; and

• $175 million of holding company cash is committed to facilitate the separation and isolation of the LTC business.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 insurance holding company committed to helping families achieve the dream of homeownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com.

From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the “Investors” section of genworth.com. From time to time, Genworth’s publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth Mortgage Insurance Australia Limited, separately release financial and other information about their operations. This information can be found at http://genworth.ca and http://www.genworth.com.au.

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Financial Supplement Information

This press release, first quarter 2017 financial supplement and earnings presentation are now posted on the company’s website. Investors are encouraged to review these materials. Due to the pending sale to Oceanwide, the company does not plan to host an earnings call.

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Use of Non-GAAP Measures

This press release includes the non-GAAP financial measures entitled “adjusted operating income (loss)” and “adjusted operating income (loss) per share.” Adjusted operating income (loss) per share is derived from adjusted operating income (loss). The chief operating decision maker evaluates segment performance and allocates resources on the basis of adjusted operating income (loss). The company defines adjusted operating income (loss) as income (loss) from continuing operations excluding the after-tax effects of income 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 adjusted operating income (loss) because, in the company’s opinion, they are not indicative of overall operating trends. Infrequent or unusual non-operating items are also excluded from adjusted operating income (loss) if, in the company’s opinion, they are not indicative of overall operating trends.

While some of these items may be significant components of net income (loss) available to Genworth’s common stockholders in accordance with GAAP, the company believes that adjusted operating income (loss) and measures that are derived from or incorporate adjusted operating income (loss), including adjusted operating income (loss) per share on a basic and diluted basis, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses adjusted operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. However, the items excluded from adjusted operating income (loss) have occurred in the past and could, and in some cases will, recur in the future. Adjusted operating income (loss) and adjusted operating income (loss) per share on a basic and diluted basis are not substitutes for net income (loss) available to Genworth’s common stockholders or net income (loss) available to Genworth’s common stockholders per share on a basic and diluted basis determined in accordance with GAAP. In addition, the company’s definition of adjusted operating income (loss) may differ from the definitions used by other companies.

Adjustments to reconcile net income (loss) attributable to Genworth’s common stockholders and adjusted operating income (loss) assume a 35 percent tax rate (unless otherwise indicated) and are net of the portion attributable to noncontrolling interests. Net investment gains (losses) are also adjusted for deferred acquisition cost (DAC) and other intangible amortization and certain benefit reserves.

In the first quarter of 2016, the company recorded an estimated pre-tax loss of $7 million and a tax benefit of $27 million related to the planned sale of the mortgage insurance business in Europe. This transaction was excluded from adjusted operating income (loss) for the periods presented as it related to a gain (loss) on the sale of businesses.

In January 2016, the company paid a pre-tax make-whole expense of $20 million related to the early redemption of Genworth Holdings, Inc.’s (Genworth Holdings) 2016 notes. The company also repurchased $28 million principal amount of Genworth Holdings’ notes with various maturity dates for a pre-tax gain of $4 million in the first quarter of 2016. These transactions were excluded from adjusted operating income (loss) for the periods presented as they related to a gain (loss) on the early extinguishment of debt.

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In the first quarter of 2016, the company completed a life block transaction resulting in a pre-tax loss of $9 million in connection with the early extinguishment of non-recourse funding obligations.

In the first quarters of 2017 and 2016, the company recorded a pre-tax expense of $1 million and $15 million, respectively, related to restructuring costs as part of an expense reduction plan as the company evaluates and appropriately sizes its organizational needs and expenses.

There were no infrequent or unusual items excluded from adjusted operating income (loss) during the periods presented other than fees incurred during the first quarter of 2016 related to Genworth Holdings’ bond consent solicitation of $18 million for broker, advisor and investment banking fees.

The tables at the end of this press release provide a reconciliation of net income (loss) available to Genworth’s common stockholders to adjusted operating income (loss) for the three months ended March 31, 2017 and 2016, as well as for the three months ended December 31, 2016 and reflect adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting.

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 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. In addition, the company’s definition of core yield may differ from the definitions used by other companies. A reconciliation of core yield to reported GAAP yield is included in a table at the end of this press release.

Definition of Selected Operating Performance Measures

The company reports selected operating performance measures including “sales” and “insurance in force” or “risk in force” which are commonly used in the insurance industry as measures of operating performance.

Management regularly monitors and reports sales metrics as a measure of volume of new and renewal business generated in a period. Sales refer to: (1) new insurance written for mortgage insurance; (2) annualized first-year premiums for long term care and term life insurance products; (3) annualized first-year deposits plus five percent of excess deposits for universal and term universal life insurance products; (4) 10 percent of premium deposits for linked-benefits products; and (5) new and additional premiums/deposits for fixed annuities. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers new insurance written, annualized first-year premiums/deposits, premium equivalents and new premiums/deposits to be a measure of the company’s operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company’s revenues or profitability during that period.

Management also regularly monitors and reports a loss ratio for the company’s businesses. For the mortgage insurance businesses, the loss ratio is the ratio of incurred losses and loss adjustment expenses to net earned premiums. For the long term care insurance business, the loss ratio is the ratio of benefits and other changes in reserves less tabular interest on reserves less loss adjustment expenses to net earned premiums. The company considers the loss ratio to be a measure of underwriting performance in these businesses and helps to enhance the understanding of the operating performance of the businesses.

An assumed tax rate of 35 percent is utilized in certain adjustments to adjusted 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.

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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 related to the proposed transaction with Oceanwide Holdings Group Co., Ltd. (Oceanwide) including: the company’s inability to complete the transaction in a timely manner or at all; the company’s inability to obtain regulatory approvals, or the possibility that the parties may delay the transaction or that materially burdensome or adverse regulatory conditions may be imposed in connection with any such regulatory approvals; existing and potential legal proceedings may be instituted against the company in connection with the announcement of the transaction that may delay the transaction, make it more costly or ultimately preclude it; the risk that the proposed transaction disrupts the company’s current plans and operations; certain restrictions during the pendency of the transaction may impact the company’s ability to pursue certain business opportunities or strategic transactions; continued availability of capital and financing to the company before the consummation of the transaction; there may be further rating agency actions and downgrades in the company’s financial strength ratings; there may be changes in applicable laws or regulations; the company may not recognize the anticipated benefits of the transaction; the amount of the costs, fees, expenses and other charges related to the transaction; management’s attention may be diverted from the company’s ongoing business operations; the merger agreement may be terminated in circumstances that would require the company to pay Oceanwide a fee; the company’s ability to attract, recruit, retain and motivate current and prospective employees may be adversely affected; and disruptions and uncertainty relating to the transaction, whether or not it is completed, may harm the company’s relationships with its employees, customers, distributors, vendors or other business partners, and may result in a negative impact on the company’s business;

• strategic risks in the event the proposed transaction with Oceanwide is not consummated including: the company’s inability to successfully execute alternative strategic plans to effectively address its current business challenges (including with respect to the restructuring of its U.S. life insurance businesses, debt obligations, cost savings, ratings and capital); the company’s inability to attract buyers for any businesses or other assets it may seek to sell, or securities it may seek to issue, in each case, in a timely manner and on anticipated terms; failure to obtain any required regulatory, stockholder and/or noteholder approvals or consents for such alternative strategic plans, 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; or adverse tax or accounting charges; and 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;

• risks relating to estimates, assumptions and valuations including: inadequate reserves and the need to increase reserves (including as a result of any changes the company may make in the future to its assumptions, methodologies or otherwise in connection with periodic or other reviews); inaccurate models; deviations from the company’s estimates and actuarial assumptions or other reasons in its long term care insurance, life insurance and/or annuity businesses; accelerated amortization of deferred acquisition costs (DAC) and present value of future profits (PVFP) (including any changes it may make in the future to its

11

assumptions, methodologies or otherwise in connection with periodic or other reviews); adverse impact on the company’s financial results as a result of projected profits followed by projected losses (as is currently the case with its long term care insurance business); and changes in valuation of fixed maturity, equity and trading securities;

• risks relating to economic, market and political conditions including: downturns and volatility in global economies and equity and credit markets; interest rates and changes in rates (particularly given the historically low interest rate environment) have adversely impacted, and may continue to materially adversely impact, the company’s business and profitability; deterioration in economic conditions or a decline in home prices that adversely affect the company’s loss experience in mortgage insurance; political and economic instability or changes in government policies; and fluctuations in foreign currency exchange rates and international securities markets;

• regulatory and legal risks including: extensive regulation of the company’s businesses and changes in applicable laws and regulations; litigation and regulatory investigations or other actions; dependence on dividends and other distributions from the company’s subsidiaries (particularly its international subsidiaries) and the inability of any subsidiaries to pay dividends or make other distributions to the company, including as a result of the performance of its subsidiaries and insurance, regulatory or corporate law restrictions; adverse change in regulatory requirements, including risk-based capital; changes in regulations adversely affecting the company’s international operations; inability to meet or maintain the private mortgage insurer eligibility requirements (PMIERs); inability of the company’s U.S. mortgage insurance subsidiaries to meet minimum statutory capital requirements and hazardous financial condition standards; the influence of Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) and a small number of large mortgage lenders on the U.S. mortgage insurance market and adverse changes to the role or structure of Fannie Mae and Freddie Mac; adverse changes in regulations affecting the company’s mortgage insurance businesses; inability to continue to implement actions to mitigate the impact of statutory reserve requirements; impact of additional regulations pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act); and changes in accounting and reporting standards;

• liquidity, financial strength ratings, credit and counterparty risks including: insufficient internal sources to meet liquidity needs and limited or no access to capital (including the company’s inability to replace its credit facility); recent or future adverse rating agency actions, including with respect to rating downgrades or potential downgrades or being put on review for potential downgrade, all of which could have adverse implications for the company, including with respect to key business relationships, product offerings, business results of operations, financial condition and capital needs, strategic plans, collateral obligations and availability and terms of hedging, reinsurance and borrowings; defaults by counterparties to reinsurance arrangements or derivative instruments; defaults or other events impacting the value of the company’s fixed maturity securities portfolio; and defaults on the company’s commercial mortgage loans or the mortgage loans underlying its investments in commercial mortgage-backed securities and volatility in performance;

• operational risks including: inability to retain, attract and motivate qualified employees or senior management; ineffective or inadequate risk management in identifying, controlling or mitigating risks; reliance on, and loss of, key customer or distribution relationships; availability, affordability and adequacy of reinsurance to protect the company against losses; competition; competition in the company’s mortgage insurance businesses from government and government-owned and government-sponsored enterprises (GSEs) offering mortgage insurance; material weakness in, or ineffective, internal control over financial

12

reporting; and failure or any compromise of the security of the company’s computer systems, disaster recovery systems and business continuity plans and failures to safeguard, or breaches of, its confidential information;

• insurance and product-related risks including: the company’s inability to increase sufficiently, and in a timely manner, premiums on in force long term care insurance policies and/or reduce in force benefits, and charge higher premiums on new policies, in each case, as currently anticipated and as may be required from time to time in the future (including as a result of the company’s failure to obtain any necessary regulatory approvals or unwillingness or inability of policyholders to pay increased premiums); the company’s inability to reflect future premium increases and other management actions in its margin calculation as anticipated; failure to sufficiently increase new sales for the company’s long term care insurance products; inability to realize anticipated benefits of the company’s rescissions, curtailments, loan modifications or other similar programs in its mortgage insurance businesses; premiums for the significant portion of the company’s mortgage insurance risk in force with high loan-to-value ratios may not be sufficient to compensate the company for the greater risks associated with those policies; decreases in the volume of high loan-to-value mortgage originations or increases in mortgage insurance cancellations; increases in the use of alternatives to private mortgage insurance and reductions in the level of coverage selected; potential liabilities in connection with the company’s U.S. contract underwriting services; and medical advances, such as genetic research and diagnostic imaging, and related legislation that impact policyholder behavior in ways adverse to the company;

• other risks including: occurrence of natural or man-made disasters or a pandemic; impairments of or valuation allowances against the company’s deferred tax assets; the possibility that in certain circumstances the company will be obligated to make payments to General Electric Company (GE) under the tax matters agreement with GE even if its corresponding tax savings are never realized and payments could be accelerated in the event of certain changes in control; and provisions of the company’s certificate of incorporation and bylaws and the tax matters agreement with GE may discourage takeover attempts and business combinations that stockholders might consider in their best interests; and

• risks relating to the company’s common stock including: the continued suspension of payment of dividends; and stock price fluctuations.

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

# # #

13

Contact Information:

Investors:	investorinfo@genworth.com
Media:	Julie Westermann, 804 662.2423
	julie.westermann@genworth.com

14

Condensed Consolidated Statements of Income

(Amounts in millions, except per share amounts)

	Three months ended March 31,
	2017		2016
Revenues:
Premiums	$	1,136	$	794
Net investment income		790		789
Net investment gains (losses)		34		(19	)
Policy fees and other income		211		221
Total revenues		2,171		1,785
Benefits and expenses:
Benefits and other changes in policy reserves		1,246		860
Interest credited		167		177
Acquisition and operating expenses, net of deferrals		270		394
Amortization of deferred acquisition costs and intangibles		94		99
Interest expense		62		105
Total benefits and expenses		1,839		1,635
Income from continuing operations before income taxes		332		150
Provision for income taxes		116		23
Income from continuing operations		216		127
Loss from discontinued operations, net of taxes		—		(19	)
Net income		216		108
Less: net income attributable to noncontrolling interests		61		55
Net income available to Genworth Financial, Inc.’s common stockholders	$	155	$	53
Income from continuing operations available to Genworth Financial, Inc.’s common stockholders per share:
Basic	$	0.31	$	0.14
Diluted	$	0.31	$	0.14
Net income available to Genworth Financial, Inc.’s common stockholders per share:
Basic	$	0.31	$	0.11
Diluted	$	0.31	$	0.11
Weighted-average common shares outstanding:
Basic		498.6		498.0
Diluted		501.0		499.4

15

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

(Amounts in millions, except per share amounts)

	Three months ended March 31,						Three months ended December  31,
	2017			2016			2016
Net income (loss) available to Genworth Financial, Inc.’s common stockholders	$	155		$	53		$	(122	)
Add: net income attributable to noncontrolling interests		61			55			59
Net income (loss)		216			108			(63	)
Loss from discontinued operations, net of taxes		—			(19	)		(4	)
Income (loss) from continuing operations		216			127			(59	)
Less: income from continuing operations attributable to noncontrolling interests		61			55			59
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders		155			72			(118	)
Adjustments to income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders:
Net investment (gains) losses, net8		(20	)		19			(28	)
Losses on sale of businesses		—			7			—
Losses on early extinguishment of debt, net		—			16			—
Losses from life block transactions		—			9			—
Expenses related to restructuring		1			15			—
Fees associated with bond consent solicitation		—			18			—
Taxes on adjustments		7			(53	)		9
Adjusted operating income (loss)	$	143		$	103		$	(137	)
Adjusted operating income (loss):
U.S. Mortgage Insurance segment	$	73		$	61		$	61
Canada Mortgage Insurance segment		36			33			39
Australia Mortgage Insurance segment		13			19			14
U.S. Life Insurance segment:
Long Term Care Insurance		14			34			(1	)
Life Insurance		16			31			(193	)
Fixed Annuities		23			26			40
Total U.S. Life Insurance segment		53			91			(154	)
Runoff segment		14			4			6
Corporate and Other		(46	)		(105	)		(103	)
Adjusted operating income (loss)	$	143		$	103		$	(137	)
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share:
Basic	$	0.31		$	0.11		$	(0.25	)
Diluted	$	0.31		$	0.11		$	(0.25	)
Adjusted operating income (loss) per share:
Basic	$	0.29		$	0.21		$	(0.27	)
Diluted	$	0.29		$	0.21		$	(0.27	)
Weighted-average common shares outstanding:
Basic		498.6			498.0			498.4
Diluted9		501.0			499.4			498.4

⁸  For the three months ended March 31, 2017 and 2016 and the three months ended December 31, 2016, net investment gains (losses) were adjusted for DAC and other intangible amortization and certain benefit reserves of zero, $(9) million and $1 million respectively, and adjusted for net investment gains (losses) attributable to noncontrolling interests of $14 million, $9 million, and $12 million, respectively.

⁹  Under applicable accounting guidance, companies in a loss position are required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share. Therefore, as a result of the loss from continuing operations, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 2.5 million for the three months ended December 31, 2016 would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations in this period, dilutive potential weighted-average common shares outstanding would have been 500.9 million for the three months ended December 31, 2016.

16

Condensed Consolidated Balance Sheets

(Amounts in millions)

	March 31,			December 31,
	2017			2016
Assets
Cash, cash equivalents and invested assets	$	75,387		$	75,012
Deferred acquisition costs		3,207			3,571
Intangible assets and goodwill		381			348
Reinsurance recoverable		17,681			17,755
Other assets		703			673
Separate account assets		7,327			7,299
Total assets	$	104,686		$	104,658
Liabilities and equity
Liabilities:
Future policy benefits	$	37,291		$	37,063
Policyholder account balances		25,383			25,662
Liability for policy and contract claims		9,295			9,256
Unearned premiums		3,370			3,378
Deferred tax and other liabilities		2,732			2,969
Borrowings related to securitization entities		68			74
Non-recourse funding obligations		310			310
Long-term borrowings		4,194			4,180
Separate account liabilities		7,327			7,299
Total liabilities		89,970			90,191
Equity:
Common stock		1			1
Additional paid-in capital		11,964			11,962
Accumulated other comprehensive income (loss):
Net unrealized investment gains (losses):
Net unrealized gains (losses) on securities not other-than-temporarily impaired		1,233			1,253
Net unrealized gains (losses) on other-than-temporarily impaired securities		10			9
Net unrealized investment gains (losses)		1,243			1,262
Derivatives qualifying as hedges		2,036			2,085
Foreign currency translation and other adjustments		(183	)		(253	)
Total accumulated other comprehensive income (loss)		3,096			3,094
Retained earnings		451			287
Treasury stock, at cost		(2,700	)		(2,700	)
Total Genworth Financial, Inc.’s stockholders’ equity		12,812			12,644
Noncontrolling interests		1,904			1,823
Total equity		14,716			14,467
Total liabilities and equity	$	104,686		$	104,658

17

Impact of Foreign Exchange on Flow New Insurance Written10 Three months ended March 31, 2017
	Percentages Including Foreign Exchange			Percentages Excluding Foreign Exchange11
Canada Mortgage Insurance (MI):
Flow new insurance written		(8	)%		(12	)%
Flow new insurance written (1Q17 vs. 4Q16)		(41	)%		(41	)%
Australia MI:
Flow new insurance written		(7	)%		(11	)%
Flow new insurance written (1Q17 vs. 4Q16)		(18	)%		(18	)%

¹⁰  All percentages are comparing the first quarter of 2017 to the first quarter of 2016 unless otherwise stated.

¹¹  The impact of foreign exchange was calculated using the comparable prior period exchange rates.

18

Reconciliation of Core Yield to Reported Yield

(Assets - amounts in billions)	Three months ended March 31, 2017
Reported Total Invested Assets and Cash	$	74.7
Subtract:
Securities lending		0.3
Unrealized gains (losses)		4.6
Adjusted end of period invested assets	$	69.8
Average Invested Assets Used in Reported Yield Calculation	$	69.7
Subtract:
Restricted commercial mortgage loans and other invested assets related to securitization entities12		0.1
Average Invested Assets Used in Core Yield Calculation	$	69.6
(Income - amounts in millions)
Reported Net Investment Income	$	790
Subtract:
Bond calls and commercial mortgage loan prepayments		6
Other non-core items13		3
Restricted commercial mortgage loans and other invested assets related to securitization entities12		1
Core Net Investment Income	$	780
Reported Yield		4.53	%
Core Yield		4.48	%

¹²  Represents the incremental assets and investment income related to restricted commercial mortgage loans and other invested assets.

¹³  Includes cost basis adjustments on structured securities and various other immaterial items.

19

EX-99.2

Exhibit 99.2

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Table of Contents	Page
Investor Letter		3
Use of Non-GAAP Measures		4
Results of Operations and Selected Operating Performance Measures		5
Financial Highlights		6
Consolidated Quarterly Results
Consolidated Net Income (Loss) by Quarter		8
Reconciliation of Net Income (Loss) to Adjusted Operating Income (Loss)		9
Consolidated Balance Sheets		10-11
Consolidated Balance Sheets by Segment		12-13
Deferred Acquisition Costs (DAC) Rollforward		14
Quarterly Results by Business
Adjusted Operating Income and Sales—U.S. Mortgage Insurance Segment		16-22
Adjusted Operating Income and Sales—Canada Mortgage Insurance Segment		24-27
Adjusted Operating Income and Sales—Australia Mortgage Insurance Segment		29-32
Adjusted Operating Income (Loss) and Sales—U.S. Life Insurance Segment		34-37
Adjusted Operating Income—Runoff Segment		39
Adjusted Operating Loss—Corporate and Other Activities		41
Additional Financial Data
Investments Summary		43
Fixed Maturity Securities Summary		44
General Account GAAP Net Investment Income Yields		45
Net Investment Gains (Losses), Net—Detail		46
Reconciliations of Non-GAAP Measures
Reconciliation of Operating Return On Equity (ROE)		48
Reconciliation of Core Yield		49
Corporate Information
Financial Strength Ratings		51

Note:

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

2

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Dear Investor,

Thank you for your continued interest in Genworth Financial.

Regards,

Investor Relations

InvestorInfo@genworth.com

3

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Use of Non-GAAP Measures

This financial supplement includes the non-GAAP financial measures entitled “adjusted operating income (loss)” and “adjusted operating income (loss) per share.” Adjusted operating income (loss) per share is derived from adjusted operating income (loss). The chief operating decision maker evaluates segment performance and allocates resources on the basis of adjusted operating income (loss). The company defines adjusted operating income (loss) as income (loss) from continuing operations excluding the after-tax effects of income 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 adjusted operating income (loss) because, in the company’s opinion, they are not indicative of overall operating trends. Infrequent or unusual non-operating items are also excluded from adjusted operating income (loss) if, in the company’s opinion, they are not indicative of overall operating trends.

While some of these items may be significant components of net income (loss) available to Genworth Financial, Inc.’s common stockholders in accordance with GAAP, the company believes that adjusted operating income (loss) and measures that are derived from or incorporate adjusted operating income (loss), including adjusted operating income (loss) per share on a basic and diluted basis, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses adjusted operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. However, the items excluded from adjusted operating income (loss) have occurred in the past and could, and in some cases will, recur in the future. Adjusted operating income (loss) and adjusted operating income (loss) per share on a basic and diluted basis are not substitutes for net income (loss) available to Genworth Financial, Inc.’s common stockholders or net income (loss) available to Genworth Financial, Inc.’s common stockholders per share on a basic and diluted basis determined in accordance with GAAP. In addition, the company’s definition of adjusted operating income (loss) may differ from the definitions used by other companies.

Adjustments to reconcile net income (loss) attributable to Genworth Financial, Inc.’s common stockholders and adjusted operating income (loss) assume a 35% tax rate (unless otherwise indicated) and are net of the portion attributable to noncontrolling interests. Net investment gains (losses) are also adjusted for DAC and other intangible amortization and certain benefit reserves (see page 46).

In June 2016, the company completed the sale of its term life insurance new business platform and recorded a pre-tax gain of $12 million. In May 2016, the company completed the sale of its mortgage insurance business in Europe and recorded an additional pre-tax loss of $2 million. In the first quarter of 2016, the company recorded an estimated pre-tax loss of $7 million and a tax benefit of $27 million related to the planned sale of the mortgage insurance business in Europe. These transactions were excluded from adjusted operating income (loss) for the periods presented as they related to a gain (loss) on the sale of businesses.

In June 2016, the company settled restricted borrowings of $70 million related to a securitization entity and recorded a $64 million pre-tax gain related to the early extinguishment of debt. In January 2016, the company paid a pre-tax make-whole expense of $20 million related to the early redemption of Genworth Holdings, Inc.’s (Genworth Holdings) 2016 notes. The company also repurchased $28 million principal amount of Genworth Holdings’ notes with various maturity dates for a pre-tax gain of $4 million in the first quarter of 2016. These transactions were excluded from adjusted operating income (loss) for the periods presented as they related to a gain (loss) on the early extinguishment of debt.

In the first quarter of 2016, the company completed a life block transaction resulting in a pre-tax loss of $9 million in connection with the early extinguishment of non-recourse funding obligations.

In the first quarter of 2017, the company recorded a pre-tax expense of $1 million related to restructuring costs as part of an expense reduction plan as the company evaluates and appropriately sizes its organizational needs and expenses. In the third, second and first quarters of 2016, the company also recorded a pre-tax expense of $2 million, $5 million and $15 million, respectively, related to restructuring costs.

There were no infrequent or unusual items excluded from adjusted operating income (loss) during the periods presented other than fees incurred during the first quarter of 2016 related to Genworth Holdings’ bond consent solicitation of $18 million for broker, advisor and investment banking fees.

The table on page 9 of this financial supplement provides a reconciliation of net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income (loss) for the periods presented and reflects adjusted operating income (loss) as determined in accordance with accounting guidance related to segment reporting. The financial supplement includes other non-GAAP measures management believes enhances the understanding and comparability of performance by highlighting underlying business activity and profitability drivers. These additional non-GAAP measures are on pages 48 and 49 of this financial supplement.

4

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Results of Operations and Selected Operating Performance Measures

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

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

Management regularly monitors and reports sales metrics as a measure of volume of new and renewal business generated in a period. Sales refer to: (1) new insurance written for mortgage insurance; (2) annualized first-year premiums for long-term care and term life insurance products; (3) annualized first-year deposits plus 5% of excess deposits for universal and term universal life insurance products; (4) 10% of premium deposits for linked-benefits products; and (5) new and additional premiums/deposits for fixed annuities. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers new insurance written, annualized first-year premiums/deposits, premium equivalents and new premiums/deposits to be a measure of the company’s operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company’s revenues or profitability during that period.

Management regularly monitors and reports insurance in-force and risk in-force. Insurance in-force for the mortgage insurance businesses is a measure of the aggregate original loan balance for outstanding insurance policies as of the respective reporting date. Risk in-force for the U.S. mortgage insurance business is based on the coverage percentage applied to the estimated current outstanding loan balance. For risk in-force in the mortgage insurance businesses in Canada and Australia, 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 mortgage insurance businesses in Canada and Australia. In Australia, the company has certain risk share arrangements where it provides pro-rata coverage of certain loans rather than 100% coverage. As a result, for loans with these risk share arrangements, the applicable pro-rata coverage amount provided is used when applying the factor. The company considers insurance in-force and risk in-force to be measures of the company’s operating performance because they represent measures of the size of the business at a specific date which will generate revenues and profits in a future period, rather than measures of the company’s revenues or profitability during that period.

Management also regularly monitors and reports a loss ratio for the company’s businesses. For the mortgage insurance businesses, the loss ratio is the ratio of incurred losses and loss adjustment expenses to net earned premiums. For the long-term care insurance business, the loss ratio is the ratio of benefits and other changes in reserves less tabular interest on reserves less loss adjustment expenses to net earned premiums. The company considers the loss ratio to be a measure of underwriting performance in these businesses and helps to enhance the understanding of the operating performance of the businesses.

These operating performance measures enable the company to compare its operating performance across periods without regard to revenues or profitability related to policies or contracts sold in prior periods or from investments or other sources.

5

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Financial Highlights

(amounts in millions, except per share data)

Balance Sheet Data	March 31, 2017			December 31, 2016		September 30, 2016		June 30, 2016			March 31, 2016
Total Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income	$	9,716		$	9,550	$	9,669	$	10,045		$	9,870
Total accumulated other comprehensive income		3,096			3,094		5,202		5,088			4,185
Total Genworth Financial, Inc.’s stockholders’ equity	$	12,812		$	12,644	$	14,871	$	15,133		$	14,055
Book value per share	$	25.68		$	25.37	$	29.84	$	30.37		$	28.19
Book value per share, excluding accumulated other comprehensive income	$	19.47		$	19.16	$	19.40	$	20.16		$	19.80
Common shares outstanding as of the balance sheet date		498.9			498.4		498.4		498.3			498.5
	Twelve months ended
Twelve Month Rolling Average ROE	March 31, 2017			December 31, 2016		September 30, 2016		June 30, 2016			March 31, 2016
GAAP Basis ROE		-1.8	%		-2.8%		-4.5%		-3.5	%		-7.0	%
Operating ROE(1)		-2.8	%		-3.2%		-2.6%		2.1	%		2.0	%
	Three months ended
Quarterly Average ROE	March 31, 2017			December 31, 2016		September 30, 2016		June 30, 2016			March 31, 2016
GAAP Basis ROE		6.4	%		-5.1%		-15.4%		6.9	%		2.2	%
Operating ROE(1)		5.9	%		-5.7%		-16.4%		4.9	%		4.2	%

Basic and Diluted Shares	Three months ended March 31, 2017
Weighted-average common shares used in basic earnings per share calculations		498.6
Potentially dilutive securities:
Stock options, restricted stock units and stock appreciation rights		2.4
Weighted-average common shares used in diluted earnings per share calculations		501.0

⁽¹⁾  See page 48 herein for a reconciliation of GAAP Basis ROE to Operating ROE.

6

Consolidated Quarterly Results

7

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Consolidated Net Income (Loss) by Quarter

(amounts in millions, except per share amounts)

	2017		2016
	1Q		4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	1,136	$	1,131		$	1,108		$	1,127		$	794		$	4,160
Net investment income		790		786			805			779			789			3,159
Net investment gains (losses)		34		41			20			30			(19	)		72
Policy fees and other income		211		240			217			300			221			978
Total revenues		2,171		2,198			2,150			2,236			1,785			8,369
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		1,246		1,530			1,662			1,193			860			5,245
Interest credited		167		173			173			173			177			696
Acquisition and operating expenses, net of deferrals		270		283			269			327			394			1,273
Amortization of deferred acquisition costs and intangibles		94		193			94			112			99			498
Interest expense		62		75			77			80			105			337
Total benefits and expenses		1,839		2,254			2,275			1,885			1,635			8,049
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		332		(56	)		(125	)		351			150			320
Provision for income taxes		116		3			222			110			23			358
INCOME (LOSS) FROM CONTINUING OPERATIONS		216		(59	)		(347	)		241			127			(38	)
Income (loss) from discontinued operations, net of taxes(1)		—		(4	)		15			(21	)		(19	)		(29	)
NET INCOME (LOSS)		216		(63	)		(332	)		220			108			(67	)
Less: net income attributable to noncontrolling interests		61		59			48			48			55			210
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		$   155	$	(122	)	$	(380	)	$	172		$	53		$	(277	)
Earnings (Loss) Per Share Data:
Income (loss) from continuing operations available to Genworth Financial, Inc.’s common stockholders per share
Basic	$	0.31	$	(0.24	)	$	(0.79	)	$	0.39		$	0.14		$	(0.50	)
Diluted	$	0.31	$	(0.24	)	$	(0.79	)	$	0.39		$	0.14		$	(0.50	)
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share
Basic	$	0.31	$	(0.25	)	$	(0.76	)	$	0.35		$	0.11		$	(0.56	)
Diluted	$	0.31	$	(0.25	)	$	(0.76	)	$	0.34		$	0.11		$	(0.56	)
Weighted-average common shares outstanding
Basic		498.6		498.4			498.3			498.5			498.0			498.3
Diluted(2)		501.0		498.4			498.3			500.4			499.4			498.3

⁽¹⁾  Income (loss) from discontinued operations related to the lifestyle protection business that was sold on December 1, 2015. During the fourth, third, second and first quarters of 2016, the company recorded an additional after-tax gain (loss) of approximately $(4) million, $15 million, $(21) million and $(19) million, respectively, as it finalized the closing balance sheet purchase price adjustments.

⁽²⁾  Under applicable accounting guidance, companies in a loss position are required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share. Therefore, as a result of the loss from continuing operations, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 2.5 million and 2.2 million, respectively, for the three months ended December 31, 2016 and September 30, 2016 and 2.0 million for the twelve months ended December 31, 2016 would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations in these periods, dilutive potential weighted-average common shares outstanding would have been 500.9 million and 500.5 million, respectively, for the three months ended December 31, 2016 and September 30, 2016 and 500.3 million for the twelve months ended December 31, 2016.

8

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

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

(amounts in millions, except per share amounts)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS	$	155		$	(122	)	$	(380	)	$	172		$	53		$	(277	)
Add: net income attributable to noncontrolling interests		61			59			48			48			55			210
NET INCOME (LOSS)		216			(63	)		(332	)		220			108			(67	)
Income (loss) from discontinued operations, net of taxes		—			(4	)		15			(21	)		(19	)		(29	)
INCOME (LOSS) FROM CONTINUING OPERATIONS		216			(59	)		(347	)		241			127			(38	)
Less: income from continuing operations attributable to noncontrolling interests		61			59			48			48			55			210
INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		155			(118	)		(395	)		193			72			(248	)
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:
Net investment (gains) losses, net(1)		(20	)		(28	)		(18	)		(39	)		19			(66	)
(Gains) losses on sale of businesses		—			—			—			(10	)		7			(3	)
(Gains) losses on early extinguishment of debt, net		—			—			—			(64	)		16			(48	)
Losses from life block transactions		—			—			—			—			9			9
Expenses related to restructuring		1			—			2			5			15			22
Fees associated with bond consent solicitation		—			—			—			—			18			18
Taxes on adjustments		7			9			6			38			(53	)		—
ADJUSTED OPERATING INCOME (LOSS)	$	143		$	(137	)	$	(405	)	$	123		$	103		$	(316	)
ADJUSTED OPERATING INCOME (LOSS):
U.S. Mortgage Insurance segment	$	73		$	61		$	67		$	61		$	61		$	250
Canada Mortgage Insurance segment		36			39			36			38			33			146
Australia Mortgage Insurance segment		13			14			14			15			19			62
U.S. Life Insurance segment:
Long-Term Care Insurance		14			(1	)		(270	)		37			34			(200	)
Life Insurance		16			(193	)		48			31			31			(83	)
Fixed Annuities		23			40			15			(13	)		26			68
Total U.S. Life Insurance segment		53			(154	)		(207	)		55			91			(215	)
Runoff segment		14			6			12			6			4			28
Corporate and Other		(46	)		(103	)		(327	)		(52	)		(105	)		(587	)
ADJUSTED OPERATING INCOME (LOSS)	$	143		$	(137	)	$	(405	)	$	123		$	103		$	(316	)
Earnings (Loss) Per Share Data:
Net income (loss) available to Genworth Financial, Inc.’s common stockholders per share
Basic	$	0.31		$	(0.25	)	$	(0.76	)	$	0.35		$	0.11		$	(0.56	)
Diluted	$	0.31		$	(0.25	)	$	(0.76	)	$	0.34		$	0.11		$	(0.56	)
Adjusted operating income (loss) per share
Basic	$	0.29		$	(0.27	)	$	(0.81	)	$	0.25		$	0.21		$	(0.63	)
Diluted	$	0.29		$	(0.27	)	$	(0.81	)	$	0.25		$	0.21		$	(0.63	)
Weighted-average common shares outstanding
Basic		498.6			498.4			498.3			498.5			498.0			498.3
Diluted(2)		501.0			498.4			498.3			500.4			499.4			498.3

⁽¹⁾  Net investment (gains) losses were adjusted for the portion attributable to noncontrolling interests and DAC and other intangible amortization and certain benefit reserves (see page 46 for reconciliation).

⁽²⁾  Under applicable accounting guidance, companies in a loss position are required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share. Therefore, as a result of the loss from continuing operations, the company was required to use basic weighted-average common shares outstanding in the calculation of diluted loss per share as the inclusion of shares for stock options, restricted stock units and stock appreciation rights of 2.5 million and 2.2 million, respectively, for the three months ended December 31, 2016 and September 30, 2016 and 2.0 million for the twelve months ended December 31, 2016 would have been antidilutive to the calculation. If the company had not incurred a loss from continuing operations in these periods, dilutive potential weighted-average common shares outstanding would have been 500.9 million and 500.5 million, respectively, for the three months ended December 31, 2016 and September 30, 2016 and 500.3 million for the twelve months ended December 31, 2016.

9

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Consolidated Balance Sheets

(amounts in millions)

	March 31, 2017		December 31, 2016		September 30, 2016		June 30, 2016		March 31, 2016
ASSETS
Investments:
Fixed maturity securities available-for-sale, at fair value	$	60,597	$	60,572	$	63,780	$	62,828	$	60,290
Equity securities available-for-sale, at fair value		709		632		590		481		431
Commercial mortgage loans		6,107		6,111		6,017		6,121		6,179
Restricted commercial mortgage loans related to securitization entities		122		129		134		141		155
Policy loans		1,761		1,742		1,751		1,754		1,565
Other invested assets		2,272		2,071		2,676		2,510		2,923
Restricted other invested assets related to securitization entities		84		312		312		312		422
Total investments		71,652		71,569		75,260		74,147		71,965
Cash and cash equivalents		3,018		2,784		3,078		3,457		4,043
Accrued investment income		717		659		677		601		720
Deferred acquisition costs		3,207		3,571		3,982		4,046		4,235
Intangible assets and goodwill		381		348		258		267		291
Reinsurance recoverable		17,681		17,755		17,542		17,564		17,587
Other assets		703		673		570		640		577
Separate account assets		7,327		7,299		7,485		7,484		7,624
Assets held for sale(1)		—		—		—		—		131
Total assets	$	104,686	$	104,658	$	108,852	$	108,206	$	107,173

⁽¹⁾  Assets held for sale related to the European mortgage insurance business (prior to its sale on May 9, 2016).

10

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Consolidated Balance Sheets

(amounts in millions)

	March 31, 2017			December 31, 2016			September 30, 2016			June 30, 2016			March 31, 2016
LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	37,291		$	37,063		$	37,405		$	37,154		$	36,776
Policyholder account balances		25,383			25,662			25,867			26,182			26,354
Liability for policy and contract claims		9,295			9,256			8,869			8,289			8,177
Unearned premiums		3,370			3,378			3,464			3,412			3,378
Other liabilities		2,657			2,916			3,280			3,197			3,596
Borrowings related to securitization entities		68			74			78			85			173
Non-recourse funding obligations		310			310			310			310			310
Long-term borrowings		4,194			4,180			4,194			4,191			4,232
Deferred tax liability		75			53			1,151			893			449
Separate account liabilities		7,327			7,299			7,485			7,484			7,624
Liabilities held for sale(1)		—			—			—			—			131
Total liabilities		89,970			90,191			92,103			91,197			91,200
Equity:
Common stock		1			1			1			1			1
Additional paid-in capital		11,964			11,962			11,959			11,955			11,952
Accumulated other comprehensive income (loss):
Net unrealized investment gains (losses):
Net unrealized gains (losses) on securities not other-than-temporarily impaired		1,233			1,253			2,836			2,770			2,043
Net unrealized gains (losses) on other-than-temporarily impaired securities		10			9			24			19			14
Net unrealized investment gains (losses)		1,243			1,262			2,860			2,789			2,057
Derivatives qualifying as hedges		2,036			2,085			2,493			2,439			2,302
Foreign currency translation and other adjustments		(183	)		(253	)		(151	)		(140	)		(174	)
Total accumulated other comprehensive income		3,096			3,094			5,202			5,088			4,185
Retained earnings		451			287			409			789			617
Treasury stock, at cost		(2,700	)		(2,700	)		(2,700	)		(2,700	)		(2,700	)
Total Genworth Financial, Inc.’s stockholders’ equity		12,812			12,644			14,871			15,133			14,055
Noncontrolling interests		1,904			1,823			1,878			1,876			1,918
Total equity		14,716			14,467			16,749			17,009			15,973
Total liabilities and equity	$	104,686		$	104,658		$	108,852		$	108,206		$	107,173

⁽¹⁾  Liabilities held for sale related to the European mortgage insurance business (prior to its sale on May 9, 2016).

11

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Consolidated Balance Sheet by Segment

(amounts in millions)

	March 31, 2017
	U.S. Mortgage Insurance			Canada Mortgage Insurance			Australia Mortgage Insurance		U.S. Life Insurance		Runoff			Corporate and Other(1)			Total
ASSETS
Cash and investments	$	2,644		$	4,781		$	2,671	$	61,793	$	2,868		$	630		$	75,387
Deferred acquisition costs and intangible assets		46			137			98		3,053		246			8			3,588
Reinsurance recoverable		2			—			—		16,845		834			—			17,681
Other assets		43			51			13		374		(13	)		235			703
Separate account assets		—			—			—		—		7,327			—			7,327
Total assets	$	2,735		$	4,969		$	2,782	$	82,065	$	11,262		$	873		$	104,686
LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	—		$	—		$	—	$	37,288	$	3		$	—		$	37,291
Policyholder account balances		—			—			—		22,015		3,368			—			25,383
Liability for policy and contract claims		583			109			227		8,353		15			8			9,295
Unearned premiums		349			1,582			873		561		5			—			3,370
Non-recourse funding obligations		—			—			—		310		—			—			310
Deferred tax and other liabilities		(380	)		133			129		2,595		(51	)		306			2,732
Borrowings and capital securities		—			326			150		—		13			3,773			4,262
Separate account liabilities		—			—			—		—		7,327			—			7,327
Total liabilities		552			2,150			1,379		71,122		10,680			4,087			89,970
Equity:
Allocated equity, excluding accumulated other comprehensive income (loss)		2,173			1,780			571		7,763		581			(3,152	)		9,716
Allocated accumulated other comprehensive income (loss)		10			(163	)		130		3,180		1			(62	)		3,096
Total Genworth Financial, Inc.’s stockholders’ equity		2,183			1,617			701		10,943		582			(3,214	)		12,812
Noncontrolling interests		—			1,202			702		—		—			—			1,904
Total equity		2,183			2,819			1,403		10,943		582			(3,214	)		14,716
Total liabilities and equity	$	2,735		$	4,969		$	2,782	$	82,065	$	11,262		$	873		$	104,686

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

12

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Consolidated Balance Sheet by Segment

(amounts in millions)

	December 31, 2016
	U.S. Mortgage Insurance			Canada Mortgage Insurance			Australia Mortgage Insurance		U.S. Life Insurance		Runoff			Corporate and Other(1)			Total
ASSETS
Cash and investments	$	2,587		$	4,686		$	2,562	$	61,251	$	2,961		$	965		$	75,012
Deferred acquisition costs and intangible assets		44			137			45		3,430		255			8			3,919
Reinsurance recoverable		2			—			—		16,907		846			—			17,755
Other assets		41			61			12		345		(9	)		223			673
Separate account assets		—			—			—		—		7,299			—			7,299
Total assets	$	2,674		$	4,884		$	2,619	$	81,933	$	11,352		$	1,196		$	104,658
LIABILITIES AND EQUITY
Liabilities:
Future policy benefits	$	—		$	—		$	—	$	37,060	$	3		$	—		$	37,063
Policyholder account balances		—			—			—		22,285		3,377			—			25,662
Liability for policy and contract claims		635			112			211		8,276		15			7			9,256
Unearned premiums		342			1,595			850		586		5			—			3,378
Non-recourse funding obligations		—			—			—		310		—			—			310
Deferred tax and other liabilities		(373	)		137			95		2,436		(30	)		704			2,969
Borrowings and capital securities		—			322			142		—		12			3,778			4,254
Separate account liabilities		—			—			—		—		7,299			—			7,299
Total liabilities		604			2,166			1,298		70,953		10,681			4,489			90,191
Equity:
Allocated equity, excluding accumulated other comprehensive income (loss)		2,065			1,751			575		7,712		670			(3,223	)		9,550
Allocated accumulated other comprehensive income (loss)		5			(186	)		76		3,268		1			(70	)		3,094
Total Genworth Financial, Inc.’s stockholders’ equity		2,070			1,565			651		10,980		671			(3,293	)		12,644
Noncontrolling interests		—			1,153			670		—		—			—			1,823
Total equity		2,070			2,718			1,321		10,980		671			(3,293	)		14,467
Total liabilities and equity	$	2,674		$	4,884		$	2,619	$	81,933	$	11,352		$	1,196		$	104,658

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

13

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Deferred Acquisition Costs Rollforward

(amounts in millions)

	U.S. Mortgage Insurance			Canada Mortgage Insurance			Australia Mortgage Insurance			U.S. Life Insurance(1)			Runoff(2)			Corporate and Other		Total
Unamortized balance as of December 31, 2016	$	28		$	121		$	31		$	3,816		$	245		$	—	$	4,241
Costs deferred		2			9			3			8			—			—		22
Amortization, net of interest accretion		(2	)		(10	)		(3	)		(62	)		(7	)		—		(84	)
Impact of foreign currency translation		—			1			2			—			—			—		3
Unamortized balance as of March 31, 2017		28			121			33			3,762			238			—		4,182
Effect of accumulated net unrealized investment (gains) losses		—			—			—			(971	)		(4	)		—		(975	)
Balance as of March 31, 2017	$	28		$	121		$	33		$	2,791		$	234		$	—	$	3,207

⁽¹⁾  Amortization, net of interest accretion, included less than $1 million of amortization related to net investment gains for the policyholder account balances.

⁽²⁾  Amortization, net of interest accretion, included less than $1 million of amortization related to net investment losses for the policyholder account balances.

14

U.S. Mortgage Insurance Segment

15

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Adjusted Operating Income and Sales—U.S. Mortgage Insurance Segment

(amounts in millions)

	2017		2016
	1Q		4Q		3Q		2Q		1Q			Total
REVENUES:
Premiums	$	169	$	171	$	169	$	160	$	160		$	660
Net investment income		17		17		16		15		15			63
Net investment gains (losses)		—		—		—		—		(1	)		(1	)
Policy fees and other income		1		1		1		1		1			4
Total revenues		187		189		186		176		175			726
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		29		48		36		38		38			160
Acquisition and operating expenses, net of deferrals		40		42		45		41		39			167
Amortization of deferred acquisition costs and intangibles		4		4		3		2		3			12
Total benefits and expenses		73		94		84		81		80			339
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		114		95		102		95		95			387
Provision for income taxes		41		34		36		34		34			138
INCOME FROM CONTINUING OPERATIONS		73		61		66		61		61			249
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS:
Net investment (gains) losses		—		—		—		—		1			1
Expenses related to restructuring		—		—		1		—		—			1
Taxes on adjustments		—		—		—		—		(1	)		(1	)
ADJUSTED OPERATING INCOME	$	73	$	61	$	67	$	61	$	61		$	250
SALES:
New Insurance Written (NIW)
Flow	$	7,600	$	11,100	$	12,800	$	11,400	$	7,400		$	42,700
Bulk		—		—		—		—		—			—
Total U.S. Mortgage Insurance NIW	$	7,600	$	11,100	$	12,800	$	11,400	$	7,400		$	42,700

16

GENWORTH FINANCIAL, INC.

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FIRST QUARTER 2017

Flow New Insurance Written Metrics—U.S. Mortgage Insurance Segment

(amounts in millions)

	2017					2016
	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)	$	6,100		55		$	8,800		53		$	10,000		54		$	8,400		55		$	5,400		59
Single		1,500		173			2,300		162			2,800		167			3,000		161			2,000		164
Total Flow	$	7,600				$	11,100				$	12,800				$	11,400				$	7,400
	Flow NIW		% of Flow NIW			Flow NIW		% of Flow NIW			Flow NIW		% of Flow NIW			Flow NIW		% of Flow NIW			Flow NIW		% of Flow NIW
FICO Scores
Over 735	$	4,700		62	%	$	7,000		63	%	$	8,100		63	%	$	7,100		62	%	$	4,400		60	%
680-735		2,300		30			3,300		30			3,800		30			3,400		30			2,400		32
660-679(2)		300		4			500		4			500		4			500		4			300		4
620-659		300		4			300		3			400		3			400		4			300		4
<620		—		—			—		—			—		—			—		—			—		—
Total Flow	$	7,600		100	%	$	11,100		100	%	$	12,800		100	%	$	11,400		100	%	$	7,400		100	%
Loan-To-Value Ratio
95.01% and above	$	800		11	%	$	1,000		9	%	$	1,000		8	%	$	700		6	%	$	400		5	%
90.01% to 95.00%		3,500		46			5,000		45			6,100		48			5,900		52			3,700		50
85.01% to 90.00%		2,300		30			3,400		31			4,000		31			3,400		30			2,400		33
85.00% and below		1,000		13			1,700		15			1,700		13			1,400		12			900		12
Total Flow	$	7,600		100	%	$	11,100		100	%	$	12,800		100	%	$	11,400		100	%	$	7,400		100	%
Origination
Purchase	$	6,300		83	%	$	8,400		76	%	$	10,500		82	%	$	9,400		82	%	$	6,000		81	%
Refinance		1,300		17			2,700		24			2,300		18			2,000		18			1,400		19
Total Flow	$	7,600		100	%	$	11,100		100	%	$	12,800		100	%	$	11,400		100	%	$	7,400		100	%

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

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

17

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Other Metrics—U.S. Mortgage Insurance Segment

(dollar amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
Net Premiums Written	$	175		$	185		$	193		$	190		$	176		$	744
New Risk Written
Flow	$	1,864		$	2,673		$	3,188		$	2,865		$	1,845		$	10,571
Bulk		—			—			—			—			—			—
Total Primary		1,864			2,673			3,188			2,865			1,845			10,571
Pool		—			—			—			—			—			—
Total New Risk Written	$	1,864		$	2,673		$	3,188		$	2,865		$	1,845		$	10,571
Primary Insurance In-Force(1)	$	139,300		$	137,500		$	133,700		$	128,400		$	124,100
Risk In-Force
Flow(2)	$	33,347		$	32,891		$	32,067		$	30,760		$	29,620
Bulk(3)		266			278			290			314			318
Total Primary		33,613			33,169			32,357			31,074			29,938
Pool		96			100			104			111			116
Total Risk In-Force	$	33,709		$	33,269		$	32,461		$	31,185		$	30,054
Primary Risk In-Force That Is GSE Conforming		95	%		95	%		96	%		96	%		96	%
Expense Ratio (Net Earned Premiums)(4)		26	%		27	%		28	%		27	%		26	%		27	%
Expense Ratio (Net Premiums Written)(5)		25	%		25	%		24	%		23	%		24	%		24	%
Flow Persistency		83	%		78	%		77	%		77	%		82	%
Risk To Capital Ratio(6)		13.6:1			14.4:1			15.0:1			15.0:1			15.3:1
PMIERs Sufficiency Ratio(7)		118	%		115	%		117	%		115	%		113	%
Average Primary Loan Size (in thousands)	$	198		$	196		$	195		$	192		$	189

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⁾  Primary insurance in-force represents aggregate loan balances for outstanding insurance policies and is used to determine premiums. Original loan balances are presented for policies with level renewal premiums. Amortized loan balances are presented for policies with annual, amortizing renewal premiums.

⁽²⁾  Flow risk in-force represents current loan balances as provided by servicers, lenders and investors and conform to the presentation under the Private Mortgage Insurer Eligibility Requirements (PMIERs).

⁽³⁾  As of March 31, 2017, 90% of the bulk risk in-force was related to loans financed by lenders who participated in the mortgage programs sponsored by the Federal Home Loan Banks.

⁽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⁾  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.

⁽⁶⁾  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.

⁽⁷⁾  The PMIERs sufficiency ratio is calculated as available assets divided by required assets as defined within PMIERs. The current period PMIERs sufficiency ratio is an estimate due to the timing of the PMIERs filing for the U.S. mortgage insurance business. As of March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, the PMIERs sufficiency ratios were in excess of $400 million, $350 million, $400 million, $350 million and $300 million, respectively, of available assets above the PMIERs requirements.

18

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Loss Metrics—U.S. Mortgage Insurance Segment

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
Paid Claims
Flow
Direct	$	76		$	65		$	80		$	94		$	112		$	351
Assumed(1)		2			1			1			1			2			5
Ceded		(1	)		—			—			(1	)		(3	)		(4	)
Loss adjustment expenses		2			3			2			3			3			11
Total Flow		79			69			83			97			114			363
Bulk		1			1			1			1			2			5
Total Primary		80			70			84			98			116			368
Pool		—			1			—			1			—			2
Total Paid Claims	$	80		$	71		$	84		$	99		$	116		$	370
Average Paid Claim (in thousands)	$	51.2		$	50.0		$	53.6		$	50.8		$	51.9
Average Reserve Per Delinquency (in thousands)
Flow	$	25.8		$	25.1		$	25.9		$	27.8		$	28.3
Bulk loans with established reserve		19.1			18.5			18.8			21.1			21.2
Reserves:
Flow direct case	$	530		$	579		$	599		$	640		$	698
Bulk direct case		12			13			14			14			15
Assumed(1)		4			5			6			6			7
All other(2)		37			38			39			47			48
Total Reserves	$	583		$	635		$	658		$	707		$	768
Beginning Reserves	$	635		$	658		$	707		$	768		$	849		$	849
Paid claims		(81	)		(71	)		(84	)		(99	)		(119	)		(373	)
Increase in reserves		29			48			35			38			38			159
Ending Reserves	$	583		$	635		$	658		$	707		$	768		$	635
Beginning Reinsurance Recoverable(3)	$	2		$	2		$	2		$	2		$	5		$	5
Ceded paid claims		(1	)		—			—			—			(3	)		(3	)
Ending Reinsurance Recoverable	$	1		$	2		$	2		$	2		$	2		$	2
Loss Ratio(4)		17	%		28	%		21	%		24	%		24	%		24	%

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

⁽³⁾  Reinsurance recoverable excludes ceded unearned premium recoveries and amounts for which cash proceeds have not yet been received.

⁽⁴⁾  The ratio of incurred losses and loss adjustment expenses to net earned premiums.

19

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Delinquency Metrics—U.S. Mortgage Insurance Segment

(dollar amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
Number of Primary Delinquencies
Flow		22,036			24,631			24,720			24,753			26,491
Bulk loans with an established reserve		695			756			778			732			776
Bulk loans with no reserve(1)		288			322			305			313			335
Total Number of Primary Delinquencies		23,019			25,709			25,803			25,798			27,602
Beginning Number of Primary Delinquencies		25,709			25,803			25,798			27,602			31,663			31,663
New delinquencies		8,456			9,504			9,609			8,265			8,761			36,139
Delinquency cures		(9,583	)		(8,201	)		(8,043	)		(8,137	)		(10,602	)		(34,983	)
Paid claims		(1,563	)		(1,397	)		(1,561	)		(1,932	)		(2,220	)		(7,110	)
Ending Number of Primary Delinquencies		23,019			25,709			25,803			25,798			27,602			25,709
Composition of Cures
Reported delinquent and cured-intraquarter		2,350			1,742			1,798			1,597			2,503
Number of missed payments delinquent prior to cure:
3 payments or less		5,375			4,660			4,276			4,335			5,775
4 - 11 payments		1,432			1,301			1,413			1,577			1,443
12 payments or more		426			498			556			628			881
Total		9,583			8,201			8,043			8,137			10,602
Primary Delinquencies by Missed Payment Status
3 payments or less		8,114			9,703			9,405			8,529			8,395
4 - 11 payments		6,341			6,548			6,212			6,323			7,254
12 payments or more		8,564			9,458			10,186			10,946			11,953
Primary Delinquencies		23,019			25,709			25,803			25,798			27,602
	March 31, 2017
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		7,809		$	43		$	330			13	%
4 - 11 payments in default		6,164			144			263			55	%
12 payments or more in default		8,063			343			394			87	%
Total		22,036		$	530		$	987			54	%
	December 31, 2016
Flow Delinquencies and Percentage Reserved by Payment Status	Delinquencies			Direct Case Reserves(2)			Risk In-Force			Reserves as % of Risk In-Force
3 payments or less in default		9,355		$	49		$	382			13	%
4 - 11 payments in default		6,364			147			268			55	%
12 payments or more in default		8,912			383			434			88	%
Total		24,631		$	579		$	1,084			53	%

⁽¹⁾  Reserves were not established on loans where the company was in a secondary loss position due to an existing deductible and the company believes currently have no risk for claim.

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

20

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Portfolio Quality Metrics—U.S. Mortgage Insurance Segment

	2017			2016
	1Q			4Q			3Q			2Q			1Q
Primary Loans
Primary loans in-force		703,214			699,841			686,789			668,951			655,300
Primary delinquent loans		23,019			25,709			25,803			25,798			27,602
Primary delinquency rate		3.27	%		3.67	%		3.76	%		3.86	%		4.21	%
Flow loans in-force		683,532			678,168			665,821			647,100			632,010
Flow delinquent loans		22,036			24,631			24,720			24,753			26,491
Flow delinquency rate		3.22	%		3.63	%		3.71	%		3.83	%		4.19	%
Bulk loans in-force		19,682			21,673			20,968			21,851			23,290
Bulk delinquent loans		983			1,078			1,083			1,045			1,111
Bulk delinquency rate		4.99	%		4.97	%		5.17	%		4.78	%		4.77	%
A minus and sub-prime loans in-force		22,056			23,063			24,281			25,552			26,995
A minus and sub-prime delinquent loans		4,572			5,252			5,306			5,220			5,546
A minus and sub-prime delinquency rate		20.73	%		22.77	%		21.85	%		20.43	%		20.54	%
Pool Loans
Pool loans in-force		5,586			5,742			5,896			6,196			6,406
Pool delinquent loans		276			325			343			356			369
Pool delinquency rate		4.94	%		5.66	%		5.82	%		5.75	%		5.76	%
Primary Risk In-Force by Credit Quality
Over 735		55	%		55	%		55	%		54	%		53	%
680-735		31	%		31	%		31	%		32	%		32	%
660-679(1)		6	%		6	%		6	%		6	%		6	%
620-659		6	%		6	%		6	%		6	%		7	%
<620		2	%		2	%		2	%		2	%		2	%

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

21

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Portfolio Quality Metrics—U.S. Mortgage Insurance Segment

(amounts in millions)

	March 31, 2017
Policy Year	Average Rate(1)			% of Total Reserves(2)			Primary Insurance In-Force		% of Total			Primary Risk In-Force		% of Total			Delinquency Rate
2004 and prior		6.02	%		10.9	%	$	2,764		2.0	%	$	543		1.6	%		12.86	%
2005		5.62	%		10.5			2,532		1.8			611		1.8			12.29	%
2006		5.76	%		16.6			4,502		3.2			1,058		3.1			12.05	%
2007		5.68	%		34.7			11,691		8.4			2,710		8.1			11.12	%
2008		5.23	%		16.0			9,716		7.0			2,270		6.8			6.28	%
2009		4.95	%		0.8			1,066		0.8			229		0.7			2.53	%
2010		4.68	%		0.7			1,432		1.0			328		1.0			1.82	%
2011		4.53	%		0.7			2,009		1.4			478		1.4			1.69	%
2012		3.84	%		0.8			5,368		3.9			1,322		3.9			0.83	%
2013		4.04	%		1.6			9,672		6.9			2,379		7.1			0.87	%
2014		4.42	%		2.8			14,287		10.3			3,499		10.4			1.10	%
2015		4.11	%		2.8			25,896		18.6			6,358		18.9			0.65	%
2016		3.86	%		1.1			40,799		29.3			9,974		29.7			0.22	%
2017		4.22	%		—			7,570		5.4			1,854		5.5			0.02	%
Total		4.50	%		100.0	%	$	139,304		100.0	%	$	33,613		100.0	%		3.27	%
	March 31, 2017						December 31, 2016					March 31, 2016
	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)	$	33,613			3.27	%	$	33,169		3.67	%	$	29,938		4.21	%
Top 10 lenders		10,356			4.21	%		10,478		4.64	%		10,671		5.60	%
Top 20 lenders		13,689			3.70	%		13,737		4.52	%		13,450		5.01	%
Loan-to-value ratio
95.01% and above	$	5,653			6.21	%	$	5,677		6.97	%	$	5,771		7.14	%
90.01% to 95.00%		17,122			2.24	%		16,738		2.51	%		14,314		2.90	%
80.01% to 90.00%		10,590			2.89	%		10,495		3.24	%		9,556		3.99	%
80.00% and below		248			3.20	%		259		3.27	%		297		3.17	%
Total	$	33,613			3.27	%	$	33,169		3.67	%	$	29,938		4.21	%
Loan grade
Prime	$	32,837			2.71	%	$	32,357		3.02	%	$	28,987		3.51	%
A minus and sub-prime		776			20.73	%		812		22.77	%		951		20.54	%
Total	$	33,613			3.27	%	$	33,169		3.67	%	$	29,938		4.21	%

⁽¹⁾  Average Annual Mortgage Interest Rate.

⁽²⁾  Total reserves were $583 million as of March 31, 2017.

22

Canada Mortgage Insurance Segment

23

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Adjusted Operating Income and Sales—Canada Mortgage Insurance Segment

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	126		$	124		$	124		$	122		$	111		$	481
Net investment income		32			32			33			32			29			126
Net investment gains (losses)		11			25			—			(8	)		20			37
Policy fees and other income		—			1			(1	)		1			—			1
Total revenues		169			182			156			147			160			645
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		20			23			30			25			26			104
Acquisition and operating expenses, net of deferrals		21			19			21			19			18			77
Amortization of deferred acquisition costs and intangibles		10			10			10			10			9			39
Interest expense		4			5			5			4			4			18
Total benefits and expenses		55			57			66			58			57			238
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		114			125			90			89			103			407
Provision for income taxes		36			37			24			23			29			113
INCOME FROM CONTINUING OPERATIONS		78			88			66			66			74			294
Less: income from continuing operations attributable to noncontrolling interests		38			41			30			30			34			135
INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		40			47			36			36			40			159
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:
Net investment (gains) losses, net(1)		(6	)		(14	)		—			4			(11	)		(21	)
Taxes on adjustments		2			6			—			(2	)		4			8
ADJUSTED OPERATING INCOME(2)	$	36		$	39		$	36		$	38		$	33		$	146
SALES:
New Insurance Written (NIW)
Flow	$	2,300		$	3,900		$	5,300		$	4,400		$	2,500		$	16,100
Bulk		8,000			3,700			5,100			19,700			3,200			31,700
Total Canada NIW(3)	$	10,300		$	7,600		$	10,400		$	24,100		$	5,700		$	47,800
(1)       Net investment (gains) losses were adjusted for the portion of net investment gains (losses) attributable to noncontrolling interests as reconciled below:
Net investment (gains) losses, gross	$	(11	)	$	(25	)	$	—		$	8		$	(20	)	$	(37	)
Adjustment for net investment gains (losses) attributable to noncontrolling interests		5			11			—			(4	)		9			16
Net investment (gains) losses, net	$	(6	)	$	(14	)	$	—		$	4		$	(11	)	$	(21	)

⁽²⁾  Adjusted operating income for the Canadian platform adjusted for foreign exchange as compared to the prior year period was $34 million for the three months ended March 31, 2017.

⁽³⁾  New insurance written for the Canadian platform adjusted for foreign exchange as compared to the prior year period was $9,800 million for the three months ended March 31, 2017.

24

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Selected Key Performance Measures—Canada Mortgage Insurance Segment

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
Net Premiums Written	$	96		$	129		$	172		$	191		$	84		$	576
Loss Ratio(1)		16	%		18	%		24	%		20	%		24	%		22	%
Expense Ratio (Net Earned Premiums)(2)		25	%		24	%		24	%		24	%		24	%		24	%
Expense Ratio (Net Premiums Written)(3)		32	%		23	%		18	%		15	%		32	%		20	%
Primary Insurance In-Force(4)	$	358,900		$	345,600		$	347,300		$	341,600		$	317,400
Primary Risk In-Force(5)
Flow	$	83,200		$	81,600		$	82,300		$	81,400		$	79,900
Bulk		42,400			39,400			39,200			38,100			31,200
Total	$	125,600		$	121,000		$	121,500		$	119,500		$	111,100
		March 31, 2017									December 31, 2016
Risk In-Force by Loan-To-Value Ratio(6)		Primary			Flow			Bulk			Primary			Flow			Bulk
95.01% and above	$	40,518		$	40,518		$	—		$	39,726		$	39,726		$	—
90.01% to 95.00%		24,859			24,859			—			24,366			24,366			—
80.01% to 90.00%		14,806			14,803			3			14,569			14,566			3
80.00% and below		45,426			2,993			42,433			42,289			2,939			39,350
Total	$	125,609		$	83,173		$	42,436		$	120,950		$	81,597		$	39,353

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

Amounts may not total due to rounding.

⁽¹⁾  The ratio of incurred losses and loss adjustment expenses to net earned premiums.

⁽²⁾  The ratio of an insurer’s general expenses to net earned premiums. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.

⁽³⁾  The ratio of an insurer’s general expenses to net premiums written. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.

⁽⁴⁾  As part of an ongoing effort to improve the estimate of outstanding insurance exposure, the company is receiving updated outstanding balances in Canada from almost all of its customers. As a result, the company estimates that the outstanding balance of insured mortgages was approximately $170.0 billion, $166.0 billion, $170.0 billion, $170.0 billion and $152.0 billion as of March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively. This is based on the extrapolation of the amounts reported by lenders to the entire insured population.

⁽⁵⁾  The business currently provides 100% coverage on the majority of the loans the company insures. For the purpose of representing the risk in-force, Canada has computed an “effective risk in-force” amount which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in-force has been calculated by applying to insurance in-force a factor that represents the highest expected average per-claim payment for any one underwriting year over the life of the business. This factor was 35% for all periods presented.

⁽⁶⁾  Loan amount in loan-to-value ratio calculation includes capitalized premiums, where applicable.

25

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Selected Key Performance Measures—Canada Mortgage Insurance Segment

(dollar amounts in millions)

Primary Insurance	March 31, 2017			December 31, 2016			September 30, 2016			June 30, 2016			March 31, 2016
Insured loans in-force(1),(2)		2,074,984			2,029,400			2,006,484			1,968,171			1,860,978
Insured delinquent loans		2,082			2,070			2,027			1,961			2,034
Insured delinquency rate(2),(3)		0.10	%		0.10	%		0.10	%		0.10	%		0.11	%
Flow loans in-force(1)		1,402,813			1,394,067			1,379,020			1,358,927			1,341,636
Flow delinquent loans		1,697			1,693			1,715			1,669			1,711
Flow delinquency rate(3)		0.12	%		0.12	%		0.12	%		0.12	%		0.13	%
Bulk loans in-force(1)		672,171			635,333			627,464			609,244			519,342
Bulk delinquent loans		385			377			312			292			323
Bulk delinquency rate(3)		0.06	%		0.06	%		0.05	%		0.05	%		0.06	%
Loss Metrics	March 31, 2017			December 31, 2016			September 30, 2016			June 30, 2016			March 31, 2016
Beginning Reserves	$	112		$	112		$	104		$	102		$	87
Paid claims(4)		(24	)		(20	)		(20	)		(21	)		(18	)
Increase in reserves		20			23			29			23			26
Impact of changes in foreign exchange rates		1			(3	)		(1	)		—			7
Ending Reserves	$	109		$	112		$	112		$	104		$	102
	March 31, 2017						December 31, 2016						March 31, 2016
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		48	%		0.04	%		47	%		0.04	%		47	%		0.05	%
Alberta		16			0.21	%		16			0.22	%		17			0.16	%
British Columbia		15			0.06	%		15			0.06	%		14			0.08	%
Quebec		13			0.15	%		13			0.15	%		13			0.20	%
Saskatchewan		3			0.27	%		3			0.28	%		3			0.21	%
Nova Scotia		2			0.21	%		2			0.18	%		2			0.20	%
Manitoba		2			0.09	%		2			0.07	%		2			0.10	%
New Brunswick		1			0.18	%		1			0.19	%		1			0.21	%
All Other		—			0.19	%		1			0.17	%		1			0.14	%
Total		100	%		0.10	%		100	%		0.10	%		100	%		0.11	%
By Policy Year
2008 and prior		35	%		0.05	%		35	%		0.06	%		41	%		0.06	%
2009		3			0.14	%		4			0.14	%		4			0.18	%
2010		5			0.17	%		6			0.19	%		6			0.22	%
2011		5			0.23	%		5			0.25	%		6			0.29	%
2012		7			0.23	%		7			0.23	%		8			0.24	%
2013		7			0.20	%		7			0.20	%		9			0.19	%
2014		8			0.16	%		9			0.18	%		10			0.12	%
2015		12			0.10	%		12			0.07	%		14			0.02	%
2016		14			0.04	%		15			0.02	%		2			—	%
2017		4			—	%		—			—	%		—			—	%
Total		100	%		0.10	%		100	%		0.10	%		100	%		0.11	%

⁽¹⁾  Insured loans in-force represent the original number of loans insured for which the coverage term has not expired, and for which no policy level cancellation or termination has been received.

⁽²⁾  As part of an ongoing effort to improve the estimate of outstanding insurance exposure, the company is receiving updated outstanding loans in-force in Canada from almost all of its customers. As a result, the company estimates that the outstanding loans in-force were 978,000 as of March 31, 2017, 969,000 as of December 31, 2016, 973,000 as of September 30, 2016, 968,000 as of June 30, 2016 and 883,000 as of March 31, 2016. This is based on the extrapolation of the amounts reported by lenders to the entire insured population. The corresponding insured delinquency rate was 0.21% as of March 31, 2017, December 31, 2016 and September 30, 2016, 0.20% as of June 30, 2016 and 0.23% as of March 31, 2016.

⁽³⁾  Delinquency rates are based on insured loans in-force.

⁽⁴⁾  Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.

26

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Selected Key Performance Measures—Canada Mortgage Insurance Segment

(Canadian dollar amounts in millions)

	2017			2016
		1Q			4Q			3Q			2Q			1Q			Total
Paid Claims(1)
Flow	$	28		$	25		$	26		$	25		$	24		$	100
Bulk		3			1			1			2			1			5
Total Paid Claims	$	31		$	26		$	27		$	27		$	25		$	105
Average Paid Claim (in thousands)	$	65.3		$	66.3		$	62.0		$	62.5		$	67.8
Average Reserve Per Delinquency (in thousands)	$	69.7		$	72.9		$	72.8		$	69.1		$	65.0
Loss Metrics
Beginning Reserves	$	151		$	148		$	136		$	132		$	120
Paid claims(1)		(31	)		(26	)		(27	)		(27	)		(25	)
Increase in reserves		25			29			39			31			37
Ending Reserves	$	145		$	151		$	148		$	136		$	132
Loan Amount(2)
Over $550K		8	%		8	%		8	%		8	%		7	%
$400K to $550K		14			14			14			14			13
$250K to $400K		34			34			33			34			34
$100K to $250K		40			40			41			40			42
$100K or Less		4			4			4			4			4
Total		100	%		100	%		100	%		100	%		100	%
Average Primary Loan Size (in thousands)	$	230		$	229		$	227		$	225		$	222

All amounts presented in Canadian dollars.

⁽¹⁾  Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.

⁽²⁾  The percentages in this table are based on the amount of primary insurance in-force in each loan band as a percentage of total insurance in-force.

27

Australia Mortgage Insurance Segment

28

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Adjusted Operating Income and Sales—Australia Mortgage Insurance Segment

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q		Total
REVENUES:
Premiums	$	81		$	82		$	88		$	86		$	81	$	337
Net investment income		21			22			23			25			24		94
Net investment gains (losses)		20			3			4			2			—		9
Total revenues		122			107			115			113			105		440
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		28			24			37			31			21		113
Acquisition and operating expenses, net of deferrals		23			29			23			25			19		96
Amortization of deferred acquisition costs and intangibles		4			3			4			4			3		14
Interest expense		2			2			2			3			3		10
Total benefits and expenses		57			58			66			63			46		233
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		65			49			49			50			59		207
Provision for income taxes		22			16			16			16			19		67
INCOME FROM CONTINUING OPERATIONS		43			33			33			34			40		140
Less: income from continuing operations attributable to noncontrolling interests		23			18			18			18			21		75
INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS		20			15			15			16			19		65
ADJUSTMENTS TO INCOME FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS:
Net investment (gains) losses, net(1)		(11	)		(2	)		(2	)		(1	)		—		(5	)
Taxes on adjustments		4			1			1			—			—		2
ADJUSTED OPERATING INCOME(2)	$	13		$	14		$	14		$	15		$	19	$	62
SALES:
New Insurance Written (NIW)
Flow	$	4,100		$	5,000		$	4,600		$	5,000		$	4,400	$	19,000
Bulk		1,000			—			—			800			—		800
Total Australia NIW(3)	$	5,100		$	5,000		$	4,600		$	5,800		$	4,400	$	19,800
(1)       Net investment (gains) losses were adjusted for the portion of net investment gains (losses) attributable to noncontrolling interests as reconciled below:
Net investment (gains) losses, gross	$	(20	)	$	(3	)	$	(4	)	$	(2	)	$	—	$	(9	)
Adjustment for net investment gains (losses) attributable to noncontrolling interests		9			1			2			1			—		4
Net investment (gains) losses, net	$	(11	)	$	(2	)	$	(2	)	$	(1	)	$	—	$	(5	)

⁽²⁾  Adjusted operating income for the Australian platform adjusted for foreign exchange as compared to the prior year period was $13 million for the three months ended March 31, 2017.

⁽³⁾  New insurance written for the Australian platform adjusted for foreign exchange as compared to the prior year period was $4,800 million for the three months ended March 31, 2017.

29

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Selected Key Performance Measures—Australia Mortgage Insurance Segment

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
Net Premiums Written	$	54		$	62		$	57		$	65		$	47		$	231
Loss Ratio(1)		35	%		30	%		42	%		36	%		26	%		34	%
Expense Ratio (Net Earned Premiums)(2)		33	%		39	%		31	%		33	%		27	%		33	%
Expense Ratio (Net Premiums Written)(3)		49	%		51	%		48	%		44	%		47	%		47	%
Primary Insurance In-Force	$	246,400		$	234,000		$	247,900		$	241,100		$	246,800
Primary Risk In-Force(4)
Flow	$	79,700		$	76,000		$	80,400		$	78,300		$	80,300
Bulk		6,000			5,400			5,900			5,700			5,700
Total	$	85,700		$	81,400		$	86,300		$	84,000		$	86,000
	March 31, 2017									December 31, 2016
Risk In-Force by Loan-To-Value Ratio(5)	Primary			Flow			Bulk			Primary			Flow			Bulk
95.01% and above	$	14,329		$	14,329		$	—		$	13,775		$	13,775		$	—
90.01% to 95.00%		22,950			22,944			6			21,593			21,587			6
80.01% to 90.00%		23,215			23,149			66			21,971			21,910			61
80.00% and below		25,219			19,300			5,919			24,094			18,745			5,349
Total	$	85,713		$	79,722		$	5,991		$	81,433		$	76,017		$	5,416

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

Amounts may not total due to rounding.

⁽¹⁾  The ratio of incurred losses and loss adjustment expenses to net earned premiums.

⁽²⁾  The ratio of an insurer’s general expenses to net earned premiums. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.

⁽³⁾  The ratio of an insurer’s general expenses to net premiums written. In the business, general expenses consist of acquisition and operating expenses, net of deferrals, and amortization of DAC and intangibles.

⁽⁴⁾  The business currently provides 100% coverage on the majority of the loans the company insures. For the purpose of representing the risk in-force, Australia has computed an “effective risk in-force” amount which recognizes that the loss on any particular loan will be reduced by the net proceeds received upon sale of the property. Effective risk in-force has been calculated by applying to insurance in-force a factor that represents the highest expected average per-claim payment for any one underwriting year over the life of the business. This factor was 35% for all periods presented. Australia also has certain risk share arrangements where it provides pro-rata coverage of certain loans rather than 100% coverage. As a result, for loans with these risk share arrangements, the applicable pro-rata coverage amount provided is used when applying the factor.

⁽⁵⁾  Loan amount in loan-to-value ratio calculation includes capitalized premiums, where applicable.

30

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Selected Key Performance Measures—Australia Mortgage Insurance Segment

(dollar amounts in millions)

Primary Insurance	March 31, 2017			December 31, 2016			September 30, 2016			June 30, 2016			March 31, 2016
Insured loans in-force		1,443,836			1,464,139			1,470,302			1,477,826			1,479,544
Insured delinquent loans		6,926			6,731			6,844			6,413			5,889
Insured delinquency rate		0.48	%		0.46	%		0.47	%		0.43	%		0.40	%
Flow loans in-force		1,332,468			1,354,616			1,358,286			1,364,756			1,366,914
Flow delinquent loans		6,650			6,451			6,574			6,143			5,633
Flow delinquency rate		0.50	%		0.48	%		0.48	%		0.45	%		0.41	%
Bulk loans in-force		111,368			109,523			112,016			113,070			112,630
Bulk delinquent loans		276			280			270			270			256
Bulk delinquency rate		0.25	%		0.26	%		0.24	%		0.24	%		0.23	%
Loss Metrics	March 31, 2017			December 31, 2016			September 30, 2016			June 30, 2016			March 31, 2016
Beginning Reserves	$	211		$	215		$	190		$	181		$	165
Paid claims(1)		(25	)		(16	)		(18	)		(17	)		(13	)
Increase in reserves		28			25			37			31			20
Impact of changes in foreign exchange rates		13			(13	)		6			(5	)		9
Ending Reserves	$	227		$	211		$	215		$	190		$	181
	March 31, 2017						December 31, 2016						March 31, 2016
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		28	%		0.31	%		28	%		0.30	%		29	%		0.29%
Queensland		23			0.68	%		23			0.66	%		23			0.55%
Victoria		23			0.38	%		23			0.38	%		23			0.35%
Western Australia		12			0.78	%		12			0.74	%		11			0.53%
South Australia		6			0.66	%		6			0.61	%		6			0.52%
Australian Capital Territory		3			0.19	%		3			0.17	%		3			0.18%
Tasmania		2			0.36	%		2			0.35	%		2			0.38%
New Zealand		2			0.07	%		2			0.07	%		2			0.13%
Northern Territory		1			0.42	%		1			0.36	%		1			0.21%
Total		100	%		0.48	%		100	%		0.46	%		100	%		0.40%
By Policy Year
2008 and prior		39	%		0.39	%		40	%		0.38	%		42	%		0.37%
2009		7			0.95	%		7			0.87	%		7			0.73%
2010		5			0.60	%		5			0.56	%		6			0.51%
2011		5			0.69	%		5			0.68	%		6			0.52%
2012		7			0.79	%		8			0.80	%		8			0.54%
2013		8			0.66	%		8			0.61	%		9			0.47%
2014		10			0.58	%		10			0.51	%		11			0.26%
2015		9			0.28	%		9			0.23	%		9			0.06%
2016		8			0.05	%		8			0.03	%		2			—  %
2017		2			—	%		—			—	%		—			—  %
Total		100	%		0.48	%		100	%		0.46	%		100	%		0.40%

⁽¹⁾  Paid claims exclude adjustments for expected recoveries related to loss reserves and prior paid claims.

31

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Selected Key Performance Measures—Australia Mortgage Insurance Segment

(Australian dollar amounts in millions)

	2017			2016
		1Q			4Q			3Q			2Q			1Q			Total
Paid Claims(1)
Flow	$	33		$	21		$	24		$	23		$	18		$	86
Bulk		—			—			—			—			—			—
Total Paid Claims	$	33		$	21		$	24		$	23		$	18		$	86
Average Paid Claim (in thousands)	$	92.5		$	67.1		$	73.3		$	79.2		$	65.8
Average Reserve Per Delinquency (in thousands)	$	42.8		$	43.5		$	41.0		$	39.9		$	40.1
Loss Metrics
Beginning Reserves	$	293		$	281		$	256		$	236		$	226
Paid claims(1)		(33	)		(21	)		(24	)		(23	)		(18	)
Increase in reserves		37			33			49			43			28
Ending Reserves	$	297		$	293		$	281		$	256		$	236
Loan Amount(2)
Over $550K		16	%		16	%		15	%		15	%		15	%
$400K to $550K		20			20			20			20			20
$250K to $400K		35			35			36			36			36
$100K to $250K		24			24			24			24			24
$100K or Less		5			5			5			5			5
Total		100	%		100	%		100	%		100	%		100	%
Average Primary Loan Size (in thousands)	$	223		$	221		$	220		$	219		$	218

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.

32

U.S. Life Insurance Segment

33

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

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

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	758		$	753		$	725		$	756		$	436		$	2,670
Net investment income		681			677			695			670			684			2,726
Net investment gains (losses)		7			9			21			114			(16	)		128
Policy fees and other income		170			194			175			180			177			726
Total revenues		1,616			1,633			1,616			1,720			1,281			6,250
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		1,164			1,419			1,556			1,089			758			4,822
Interest credited		132			138			140			143			144			565
Acquisition and operating expenses, net of deferrals		157			135			149			199			165			648
Amortization of deferred acquisition costs and intangibles		70			172			69			84			78			403
Interest expense		3			3			2			5			28			38
Total benefits and expenses		1,526			1,867			1,916			1,520			1,173			6,476
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		90			(234	)		(300	)		200			108			(226	)
Provision (benefit) for income taxes		32			(83	)		(106	)		70			39			(80	)
INCOME (LOSS) FROM CONTINUING OPERATIONS		58			(151	)		(194	)		130			69			(146	)
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses, net(1)		(8	)		(4	)		(21	)		(119	)		11			(133	)
Gains on sale of businesses		—			—			—			(1	)		—			(1	)
Losses from life block transactions		—			—			—			—			9			9
Expenses related to restructuring		—			—			1			3			15			19
Taxes on adjustments		3			1			7			42			(13	)		37
ADJUSTED OPERATING INCOME (LOSS)	$	53		$	(154	)	$	(207	)	$	55		$	91		$	(215	)
(1)      Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves as reconciled below:
Net investment (gains) losses, gross	$	(7	)	$	(9	)	$	(21	)	$	(114	)	$	16		$	(128	)
Adjustment for DAC and other intangible amortization and certain benefit reserves		(1	)		5			—			(5	)		(5	)		(5	)
Net investment (gains) losses, net	$	(8	)	$	(4	)	$	(21	)	$	(119	)	$	11		$	(133	)

34

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Adjusted Operating Income (Loss) and Sales—U.S. Life Insurance Segment—Long-Term Care Insurance

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	634		$	650		$	610		$	636		$	618		$	2,514
Net investment income		356			356			353			344			329			1,382
Net investment gains (losses)		3			(21	)		17			139			4			139
Policy fees and other income		1			1			—			—			1			2
Total revenues		994			986			980			1,119			952			4,037
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		835			889			1,262			806			776			3,733
Interest credited		—			—			—			—			—			—
Acquisition and operating expenses, net of deferrals		112			94			95			93			95			377
Amortization of deferred acquisition costs and intangibles		23			26			25			26			26			103
Interest expense		—			—			—			—			—			—
Total benefits and expenses		970			1,009			1,382			925			897			4,213
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		24			(23	)		(402	)		194			55			(176	)
Provision (benefit) for income taxes		8			(8	)		(142	)		68			20			(62	)
INCOME (LOSS) FROM CONTINUING OPERATIONS		16			(15	)		(260	)		126			35			(114	)
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses		(3	)		21			(17	)		(139	)		(4	)		(139	)
Expenses related to restructuring		—			—			1			2			3			6
Taxes on adjustments		1			(7	)		6			48			—			47
ADJUSTED OPERATING INCOME (LOSS)	$	14		$	(1	)	$	(270	)	$	37		$	34		$	(200	)
SALES:
Individual Long-Term Care Insurance	$	2		$	1		$	2		$	4		$	5		$	12
Group Long-Term Care Insurance		1			1			3			2			2			8
Total Sales	$	3		$	2		$	5		$	6		$	7		$	20
RATIOS:
Loss Ratio(1)		72.0	%		78.6	%		145.5	%		70.1	%		67.6	%		90.0	%
Gross Benefits Ratio(2)		131.6	%		136.9	%		207.0	%		126.7	%		125.5	%		148.5	%

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

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

35

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

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

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums(1)	$	124		$	103		$	115		$	120		$	(185	)	$	153
Net investment income		125			116			128			117			133			494
Net investment gains (losses)		3			19			4			(1	)		2			24
Policy fees and other income		165			190			171			176			173			710
Total revenues		417			428			418			412			123			1,381
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves(1)		261			470			216			231			(87	)		830
Interest credited		63			66			64			65			64			259
Acquisition and operating expenses, net of deferrals		33			36			31			39			51			157
Amortization of deferred acquisition costs and intangibles		29			133			27			27			33			220
Interest expense		3			3			2			5			28			38
Total benefits and expenses		389			708			340			367			89			1,504
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		28			(280	)		78			45			34			(123	)
Provision (benefit) for income taxes		10			(100	)		28			16			12			(44	)
INCOME (LOSS) FROM CONTINUING OPERATIONS		18			(180	)		50			29			22			(79	)
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses		(3	)		(19	)		(4	)		1			(2	)		(24	)
Gains on sale of businesses		—			—			—			(1	)		—			(1	)
Losses from life block transactions		—			—			—			—			9			9
Expenses related to restructuring		—			—			—			2			8			10
Taxes on adjustments		1			6			2			—			(6	)		2
ADJUSTED OPERATING INCOME (LOSS)	$	16		$	(193	)	$	48		$	31		$	31		$	(83	)
SALES:
Term Life	$	—		$	—		$	—		$	2		$	5		$	7
Universal Life		1			—			1			1			2			4
Linked-Benefits		—			—			—			1			2			3
Total Sales	$	1		$	—		$	1		$	4		$	9		$	14

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

36

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Adjusted Operating Income (Loss) and Sales—U.S. Life Insurance Segment—Fixed Annuities

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	—		$	—		$	—		$	—		$	3		$	3
Net investment income		200			205			214			209			222			850
Net investment gains (losses)		1			11			—			(24	)		(22	)		(35	)
Policy fees and other income		4			3			4			4			3			14
Total revenues		205			219			218			189			206			832
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves(1)		68			60			78			52			69			259
Interest credited		69			72			76			78			80			306
Acquisition and operating expenses, net of deferrals(2)		12			5			23			67			19			114
Amortization of deferred acquisition costs and intangibles		18			13			17			31			19			80
Interest expense		—			—			—			—			—			—
Total benefits and expenses		167			150			194			228			187			759
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		38			69			24			(39	)		19			73
Provision (benefit) for income taxes		14			25			8			(14	)		7			26
INCOME (LOSS) FROM CONTINUING OPERATIONS		24			44			16			(25	)		12			47
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses, net(3)		(2	)		(6	)		—			19			17			30
Expenses related to restructuring		—			—			—			(1	)		4			3
Taxes on adjustments		1			2			(1	)		(6	)		(7	)		(12	)
ADJUSTED OPERATING INCOME (LOSS)	$	23		$	40		$	15		$	(13	)	$	26		$	68
SALES:
Single Premium Deferred Annuities	$	—		$	—		$	1		$	8		$	159		$	168
Single Premium Immediate Annuities		1			—			—			1			9			10
Total Sales	$	1		$	—		$	1		$	9		$	168		$	178
(1)      In the second quarter of 2016, benefits and other changes in policy reserves included $45 million of lower assumed reinsurance in connection with the recapture by a third party. (2)      In the second quarter of 2016, acquisition and operating expenses, net of deferrals, included a $55 million payment in connection with the recapture by a third party. (3)      Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves as reconciled below:
Net investment (gains) losses, gross	$	(1	)	$	(11	)	$	—		$	24		$	22		$	35
Adjustment for DAC and other intangible amortization and certain benefit reserves		(1	)		5			—			(5	)		(5	)		(5	)
Net investment (gains) losses, net	$	(2	)	$	(6	)	$	—		$	19		$	17		$	30

37

Runoff Segment

38

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Adjusted Operating Income—Runoff Segment

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	—		$	—		$	—		$	—		$	—		$	—
Net investment income		38			39			37			36			35			147
Net investment gains (losses)		8			3			4			(13	)		(8	)		(14	)
Policy fees and other income		41			42			43			42			42			169
Total revenues		87			84			84			65			69			302
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		4			16			2			9			15			42
Interest credited		35			35			33			30			33			131
Acquisition and operating expenses, net of deferrals		15			14			20			18			16			68
Amortization of deferred acquisition costs and intangibles		6			4			7			12			6			29
Interest expense		—			—			1			—			—			1
Total benefits and expenses		60			69			63			69			70			271
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		27			15			21			(4	)		(1	)		31
Provision (benefit) for income taxes		8			4			6			(2	)		(2	)		6
INCOME (LOSS) FROM CONTINUING OPERATIONS		19			11			15			(2	)		1			25
ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS:
Net investment (gains) losses, net(1)		(7	)		(7	)		(4	)		12			4			5
Taxes on adjustments		2			2			1			(4	)		(1	)		(2	)
ADJUSTED OPERATING INCOME	$	14		$	6		$	12		$	6		$	4		$	28
(1)      Net investment (gains) losses were adjusted for DAC and other intangible amortization and certain benefit reserves as reconciled below:
Net investment (gains) losses, gross	$	(8	)	$	(3	)	$	(4	)	$	13		$	8		$	14
Adjustment for DAC and other intangible amortization and certain benefit reserves		1			(4	)		—			(1	)		(4	)		(9	)
Net investment (gains) losses, net	$	(7	)	$	(7	)	$	(4	)	$	12		$	4		$	5

39

Corporate and Other

40

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Adjusted Operating Loss—Corporate and Other⁽¹⁾

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
REVENUES:
Premiums	$	2		$	1		$	2		$	3		$	6		$	12
Net investment income		1			(1	)		1			1			2			3
Net investment gains (losses)(2)		(12	)		1			(9	)		(65	)		(14	)		(87	)
Policy fees and other income(3)		(1	)		2			(1	)		76			1			78
Total revenues		(10	)		3			(7	)		15			(5	)		6
BENEFITS AND EXPENSES:
Benefits and other changes in policy reserves		1			—			1			1			2			4
Acquisition and operating expenses, net of deferrals(4)		14			44			11			25			137			217
Amortization of deferred acquisition costs and intangibles		—			—			1			—			—			1
Interest expense		53			65			67			68			70			270
Total benefits and expenses		68			109			80			94			209			492
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		(78	)		(106	)		(87	)		(79	)		(214	)		(486	)
Provision (benefit) for income taxes		(23	)		(5	)		246			(31	)		(96	)		114
LOSS FROM CONTINUING OPERATIONS		(55	)		(101	)		(333	)		(48	)		(118	)		(600	)
ADJUSTMENTS TO LOSS FROM CONTINUING OPERATIONS:
Net investment (gains) losses		12			(1	)		9			65			14			87
(Gains) losses on sale of businesses		—			—			—			(9	)		7			(2	)
(Gains) losses on early extinguishment of debt, net		—			—			—			(64	)		16			(48	)
Expenses related to restructuring		1			—			—			2			—			2
Fees associated with bond consent solicitation		—			—			—			—			18			18
Taxes on adjustments		(4	)		(1	)		(3	)		2			(42	)		(44	)
ADJUSTED OPERATING LOSS	$	(46	)	$	(103	)	$	(327	)	$	(52	)	$	(105	)	$	(587	)

⁽¹⁾  Includes inter-segment eliminations and the results of other businesses that are managed outside the operating segments, including certain smaller international mortgage insurance businesses.

⁽²⁾  In the second quarter of 2016, net investment gains (losses) included a $64 million loss from the write-off of residual interest in certain policy loan securitization entities.

⁽³⁾  In the second quarter of 2016, the company settled restricted borrowings of $70 million related to a securitization entity and recorded a $64 million pre-tax gain related to the early extinguishment of debt, which was included in policy fees and other income.

⁽⁴⁾  In the first quarter of 2016, acquisition and operating expenses, net of deferrals, included the following: $83 million of legal fees and expenses, including $69 million related to the settlement of the long-term care insurance class action lawsuit; $20 million of make-whole expense on the early redemption of Genworth Holdings’ 2016 senior notes in January 2016; $18 million associated with Genworth Holdings’ bond consent solicitation for broker, advisor and investment banking fees; and an additional estimated loss of $7 million related to the planned sale of the mortgage insurance business in Europe.

41

Additional Financial Data

42

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Investments Summary

(amounts in millions)

		March 31, 2017					December 31, 2016					September 30, 2016					June 30, 2016					March 31, 2016
		Carrying Amount		% of Total			Carrying Amount		% of Total			Carrying Amount		% of Total			Carrying Amount		% of Total			Carrying Amount		% of Total
Composition of Investment Portfolio
Fixed maturity securities:
Investment grade:
Public fixed maturity securities		$	33,049		44	%	$	33,733		46	%	$	35,544		45	%	$	35,003		45	%	$	33,362		44	%
Private fixed maturity securities			11,483		15			11,261		15			11,669		15			11,370		15			10,867		14
Residential mortgage-backed securities(1)			4,340		6			4,314		6			4,742		6			4,981		6			5,041		7
Commercial mortgage-backed securities			3,283		5			3,106		4			3,148		4			2,940		4			2,633		4
Other asset-backed securities			3,214		4			3,140		4			3,310		4			3,279		4			3,287		4
State and political subdivisions			2,710		4			2,647		4			2,823		4			2,751		4			2,517		3
Non-investment grade fixed maturity securities			2,518		3			2,371		3			2,544		3			2,504		3			2,583		3
Equity securities:
Common stocks and mutual funds			202		—			179		—			175		—			140		—			108		—
Preferred stocks			507		1			453		1			415		1			341		1			323		—
Commercial mortgage loans			6,107		8			6,111		8			6,017		8			6,121		8			6,179		8
Restricted commercial mortgage loans related to securitization entities			122		—			129		—			134		—			141		—			155		—
Policy loans			1,761		3			1,742		2			1,751		2			1,754		2			1,565		2
Cash, cash equivalents and short-term investments			4,021		5			3,136		4			3,420		4			3,730		5			4,217		6
Securities lending			281		1			534		1			417		1			328		—			415		1
Other invested assets:	Limited partnerships		224		—			199		—			188		—			181		—			177		—
	Derivatives:
	Long-term care (LTC) forward starting swap—cash flow		227		—			237		—			735		1			627		1			1,087		1
	Other cash flow		4		—			4		—			6		—			7		—			7		—
	Equity index options—non-qualified		77		—			72		—			61		—			57		—			36		—
	Other non-qualified		367		1			395		1			529		1			578		1			537		1
	Trading portfolio		71		—			259		1			384		1			441		1			471		1
	Restricted other invested assets related to securitization entities		84		—			312		—			312		—			312		—			422		1
	Other		18		—			19		—			14		—			18		—			19		—
Total invested assets and cash		$	74,670		100	%	$	74,353		100	%	$	78,338		100	%	$	77,604		100	%	$	76,008		100	%
Public Fixed Maturity Securities—Credit Quality:
NRSRO(2) Designation
AAA		$	13,270		30	%	$	14,264		32	%	$	15,608		33	%	$	15,714		33	%	$	15,385		34	%
AA			4,369		10			4,283		9			4,536		9			4,455		10			4,174		10
A			12,770		29			12,659		28			13,317		28			13,122		28			12,664		28
BBB			12,688		28			12,380		28			12,632		27			12,154		26			11,213		25
BB			1,489		3			1,334		3			1,464		3			1,440		3			1,464		3
B			113		—			151		—			145		—			149		—			141		—
CCC and lower			60		—			60		—			53		—			56		—			77		—
Total public fixed maturity securities		$	44,759		100	%	$	45,131		100	%	$	47,755		100	%	$	47,090		100	%	$	45,118		100	%
Private Fixed Maturity Securities—Credit Quality:
NRSRO(2) Designation
AAA		$	1,695		11	%	$	1,661		11	%	$	1,731		11	%	$	1,683		10	%	$	1,614		10	%
AA			1,970		12			1,970		13			2,071		13			2,013		13			1,923		13
A			4,836		31			4,719		30			4,937		31			4,864		31			4,725		31
BBB			6,481		41			6,265		41			6,404		40			6,319		40			6,009		40
BB			802		5			763		5			815		5			734		5			772		5
B			41		—			51		—			51		—			102		1			104		1
CCC and lower			13		—			12		—			16		—			23		—			25		—
Total private fixed maturity securities		$	15,838		100	%	$	15,441		100	%	$	16,025		100	%	$	15,738		100	%	$	15,172		100	%

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

⁽²⁾  Nationally Recognized Statistical Rating Organizations.

43

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Fixed Maturity Securities Summary

(amounts in millions)

	March 31, 2017					December 31, 2016					September 30, 2016					June 30, 2016					March 31, 2016
	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	$	5,493		9	%	$	6,036		10	%	$	6,703		11	%	$	6,806		11	%	$	6,524		11	%
State and political subdivisions		2,710		4			2,647		4			2,824		4			2,751		4			2,517		4
Foreign government		1,817		3			2,107		3			2,227		3			2,113		3			2,080		3
U.S. corporate		27,423		46			26,828		45			27,695		44			26,984		43			25,389		43
Foreign corporate		12,224		21			12,295		21			13,008		20			12,833		21			12,629		21
Residential mortgage-backed securities		4,404		7			4,379		7			4,823		8			5,055		8			5,122		8
Commercial mortgage-backed securities		3,302		5			3,129		5			3,173		5			2,979		5			2,713		4
Other asset-backed securities		3,224		5			3,151		5			3,327		5			3,307		5			3,316		6
Total fixed maturity securities	$	60,597		100	%	$	60,572		100	%	$	63,780		100	%	$	62,828		100	%	$	60,290		100	%
Corporate Bond Holdings—Industry Sector:
Investment Grade:
Finance and insurance	$	8,661		23	%	$	8,408		23	%	$	8,756		23	%	$	8,499		23	%	$	8,128		23	%
Utilities		5,604		15			5,475		15			5,637		15			5,507		15			5,275		15
Energy		3,049		8			2,944		8			2,961		8			2,949		8			2,908		8
Consumer—non-cyclical		5,316		14			5,268		14			5,483		14			5,292		14			4,894		14
Consumer—cyclical		1,840		5			1,853		5			2,034		5			2,039		5			2,150		6
Capital goods		2,732		7			2,665		7			2,623		7			2,613		7			2,444		7
Industrial		2,025		6			1,908		5			2,006		5			1,971		5			1,980		5
Technology and communications		3,252		9			3,220		9			3,418		9			3,272		9			3,019		8
Transportation		1,841		5			1,839		5			1,868		5			1,860		5			1,750		5
Other		3,045		8			3,406		9			3,605		9			3,538		9			3,162		9
Subtotal		37,365		100	%		36,986		100	%		38,391		100	%		37,540		100	%		35,710		100	%
Non-Investment Grade:
Finance and insurance		244		11	%		227		11	%		242		11	%		285		13	%		306		13	%
Utilities		51		2			44		2			73		3			74		3			78		4
Energy		685		30			687		32			713		31			679		30			693		30
Consumer—non-cyclical		189		8			180		8			217		9			217		9			226		10
Consumer—cyclical		183		8			119		6			131		6			131		6			86		4
Capital goods		162		7			128		6			152		7			153		7			216		9
Industrial		251		11			273		13			303		13			263		11			279		12
Technology and communications		403		18			365		17			355		15			335		15			320		14
Transportation		29		1			28		1			30		1			30		1			2		—
Other		85		4			86		4			96		4			110		5			102		4
Subtotal		2,282		100	%		2,137		100	%		2,312		100	%		2,277		100	%		2,308		100	%
Total	$	39,647		100	%	$	39,123		100	%	$	40,703		100	%	$	39,817		100	%	$	38,018		100	%
Fixed Maturity Securities—Contractual Maturity Dates:
Due in one year or less	$	1,776		3	%	$	1,721		3	%	$	1,775		3	%	$	1,851		3	%	$	1,879		3	%
Due after one year through five years		10,764		18			10,938		18			11,309		18			11,024		18			10,730		18
Due after five years through ten years		12,386		20			12,647		21			13,129		20			12,708		20			11,964		20
Due after ten years		24,741		41			24,607		41			26,244		41			25,904		41			24,566		41
Subtotal		49,667		82			49,913		83			52,457		82			51,487		82			49,139		82
Mortgage and asset-backed securities		10,930		18			10,659		17			11,323		18			11,341		18			11,151		18
Total fixed maturity securities	$	60,597		100	%	$	60,572		100	%	$	63,780		100	%	$	62,828		100	%	$	60,290		100	%

44

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

General Account GAAP Net Investment Income Yields

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
GAAP Net Investment Income
Fixed maturity securities—taxable	$	641		$	635		$	655		$	634		$	641		$	2,565
Fixed maturity securities—non-taxable		3			3			3			3			3			12
Commercial mortgage loans		77			81			79			77			81			318
Restricted commercial mortgage loans related to securitization entities		2			2			3			3			2			10
Equity securities		8			8			8			7			5			28
Other invested assets		31			34			29			33			32			128
Limited partnerships		1			2			5			—			6			13
Restricted other invested assets related to securitization entities		—			—			—			1			2			3
Policy loans		42			39			38			34			35			146
Cash, cash equivalents and short-term investments		6			4			5			6			5			20
Gross investment income before expenses and fees		811			808			825			798			812			3,243
Expenses and fees		(21	)		(22	)		(20	)		(19	)		(23	)		(84	)
Net investment income	$	790		$	786		$	805		$	779		$	789		$	3,159
Annualized Yields
Fixed maturity securities—taxable		4.5	%		4.5	%		4.6	%		4.6	%		4.7	%		4.6	%
Fixed maturity securities—non-taxable		3.7	%		3.7	%		3.7	%		3.6	%		3.6	%		3.6	%
Commercial mortgage loans		5.0	%		5.3	%		5.2	%		5.0	%		5.2	%		5.2	%
Restricted commercial mortgage loans related to securitization entities		6.4	%		6.1	%		7.4	%		8.0	%		5.1	%		7.1	%
Equity securities		4.9	%		5.2	%		5.8	%		5.8	%		5.1	%		5.6	%
Other invested assets		81.1	%		46.2	%		31.6	%		31.9	%		29.4	%		34.5	%
Limited partnerships(1)		1.9	%		4.1	%		10.9	%		—	%		13.2	%		7.0	%
Restricted other invested assets related to securitization entities		—	%		—	%		—	%		1.1	%		2.0	%		0.9	%
Policy loans		9.6	%		8.9	%		8.7	%		8.2	%		8.9	%		8.7	%
Cash, cash equivalents and short-term investments		0.7	%		0.5	%		0.6	%		0.6	%		0.4	%		0.5	%
Gross investment income before expenses and fees		4.7	%		4.6	%		4.7	%		4.6	%		4.6	%		4.6	%
Expenses and fees		-0.2	%		-0.1	%		-0.1	%		-0.1	%		-0.1	%		-0.1	%
Net investment income		4.5	%		4.5	%		4.6	%		4.5	%		4.5	%		4.5	%

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

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

45

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Net Investment Gains (Losses), Net—Detail

(amounts in millions)

	2017			2016
	1Q			4Q			3Q			2Q			1Q			Total
Net realized gains (losses) on available-for-sale securities:
Fixed maturity securities:
U.S. corporate	$	15		$	(1	)	$	2		$	—		$	(7	)	$	(6	)
U.S. government, agencies and government-sponsored enterprises		(10	)		(19	)		15			137			7			140
Foreign corporate		20			1			(1	)		(6	)		(8	)		(14	)
Foreign government		2			1			4			—			—			5
Mortgage-backed securities		—			13			(1	)		—			—			12
Asset-backed securities		(5	)		(1	)		(5	)		(10	)		—			(16	)
Equity securities		2			2			1			—			1			4
Foreign exchange		5			2			—			1			—			3
Total net realized gains (losses) on available-for-sale securities		29			(2	)		15			122			(7	)		128
Impairments:
Corporate fixed maturity securities		(1	)		—			—			(16	)		(8	)		(24	)
Foreign government		—			—			—			(1	)		—			(1	)
Limited partnerships		—			—			—			—			(3	)		(3	)
Commercial mortgage loans		—			—			—			(4	)		—			(4	)
Commercial mortgage-backed securities		—			—			—			(1	)		—			(1	)
Equity securities		—			(5	)		(2	)		—			—			(7	)
Total impairments		(1	)		(5	)		(2	)		(22	)		(11	)		(40	)
Net unrealized gains (losses) on trading securities		—			(30	)		(4	)		16			28			10
Limited partnerships		—			6			—			—			—			6
Commercial mortgage loans held-for-sale market valuation allowance		1			—			(1	)		1			1			1
Net gains (losses) related to securitization entities		2			1			2			(61	)		8			(50	)
Derivative instruments		3			72			10			(24	)		(38	)		20
Contingent purchase price valuation change		—			—			—			(2	)		—			(2	)
Other		—			(1	)		—			—			—			(1	)
Net investment gains (losses), gross		34			41			20			30			(19	)		72
Adjustment for DAC and other intangible amortization and certain benefit reserves		—			(1	)		—			6			9			14
Adjustment for net investment (gains) losses attributable to noncontrolling interests		(14	)		(12	)		(2	)		3			(9	)		(20	)
Net investment gains (losses), net	$	20		$	28		$	18		$	39		$	(19	)	$	66

46

Reconciliations of Non-GAAP Measures

47

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Reconciliation of Operating ROE

(amounts in millions)

Twelve Month Rolling Average ROE	Twelve months ended
	March 31, 2017			December 31, 2016			September 30, 2016			June 30, 2016			March 31, 2016
GAAP Basis ROE
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the twelve months ended(1)	$	(175	)	$	(277	)	$	(447	)	$	(351	)	$	(716	)
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss)(2)	$	9,770		$	9,790		$	9,900		$	10,042		$	10,160
GAAP Basis ROE (1)/(2)		-1.8	%		-2.8	%		-4.5	%		-3.5	%		-7.0	%
Operating ROE
Adjusted operating income (loss) for the twelve months ended(1)	$	(276	)	$	(316	)	$	(261	)	$	208		$	204
Quarterly average Genworth Financial, Inc.’s stockholders’ equity, excluding accumulated other comprehensive income (loss)(2)	$	9,770		$	9,790		$	9,900		$	10,042		$	10,160
Operating ROE (1)/(2)		-2.8	%		-3.2	%		-2.6	%		2.1	%		2.0	%
Quarterly Average ROE	Three months ended
	March 31, 2017			December 31, 2016			September 30, 2016			June 30, 2016			March 31, 2016
GAAP Basis ROE
Net income (loss) available to Genworth Financial, Inc.’s common stockholders for the period ended(3)	$	155		$	(122	)	$	(380	)	$	172		$	53
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss)(4)	$	9,633		$	9,610		$	9,857		$	9,958		$	9,842
Annualized GAAP Quarterly Basis ROE (3)/(4)		6.4	%		-5.1	%		-15.4	%		6.9	%		2.2	%
Operating ROE
Adjusted operating income (loss) for the period ended(3)	$	143		$	(137	)	$	(405	)	$	123		$	103
Quarterly average Genworth Financial, Inc.’s stockholders’ equity for the period, excluding accumulated other comprehensive income (loss)(4)	$	9,633		$	9,610		$	9,857		$	9,958		$	9,842
Annualized Operating Quarterly Basis ROE (3)/(4)		5.9	%		-5.7	%		-16.4	%		4.9	%		4.2	%

Non-GAAP Definition for Operating ROE

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

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

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

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

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

48

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Reconciliation of Core Yield

		2017			2016
	(Assets—amounts in billions)	1Q			4Q			3Q			2Q			1Q			Total
	Reported—Total Invested Assets and Cash	$	74.7		$	74.4		$	78.3		$	77.6		$	76.0		$	74.4
	Subtract:
	Securities lending		0.3			0.5			0.4			0.3			0.4			0.5
	Unrealized gains (losses)		4.6			4.3			7.7			7.6			6.3			4.3
	Adjusted end of period invested assets and cash	$	69.8		$	69.6		$	70.2		$	69.7		$	69.3		$	69.6
(A)	Average Invested Assets and Cash Used in Reported Yield Calculation	$	69.7		$	69.8		$	69.7		$	69.5		$	70.0		$	69.8
	Subtract:
	Restricted commercial mortgage loans and other invested assets related to securitization entities(1)		0.1			0.1			0.3			0.1			0.2			0.2
(B)	Average Invested Assets and Cash Used in Core Yield Calculation	$	69.6		$	69.7		$	69.4		$	69.4		$	69.8		$	69.6
	(Income—amounts in millions)
(C)	Reported—Net Investment Income	$	790		$	786		$	805		$	779		$	789		$	3,159
	Subtract:
	Bond calls and commercial mortgage loan prepayments		6			22			14			5			11			52
	Other non-core items(2)		3			(17	)		8			(6	)		15			—
	Restricted commercial mortgage loans and other invested assets related to securitization entities(1)		1			2			1			2			3			8
(D)	Core Net Investment Income	$	780		$	779		$	782		$	778		$	760		$	3,099
(C) / (A)	Reported Yield		4.53	%		4.50	%		4.62	%		4.48	%		4.51	%		4.53	%
(D) / (B)	Core Yield		4.48	%		4.47	%		4.51	%		4.48	%		4.36	%		4.45	%

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

49

Corporate Information

50

GENWORTH FINANCIAL, INC.

FINANCIAL SUPPLEMENT

FIRST QUARTER 2017

Financial Strength Ratings As Of May 1, 2017

Company	Standard & Poor’s Financial Services LLC (S&P)	Moody’s Investors Service, Inc. (Moody’s)	A.M. Best Company, Inc. (A.M. Best)
Genworth Mortgage Insurance Corporation	BB+ (Marginal)	Ba1 (Questionable)	Not rated
Genworth Financial Mortgage Insurance Company Canada(1)	A+ (Strong)	Not rated	Not rated
Genworth Financial Mortgage Insurance Pty Limited (Australia)(2)	A+ (Strong)	A3 (Good)	Not rated
Genworth Life Insurance Company	BB- (Marginal)	Ba3 (Questionable)	B (Fair)
Genworth Life and Annuity Insurance Company	BB- (Marginal)	Baa2 (Adequate)	B++ (Good)
Genworth Life Insurance Company of New York	BB- (Marginal)	Ba3 (Questionable)	B (Fair)

The S&P, Moody’s, A.M. Best, Dominion Bond Rating Service (DBRS) and Fitch Rating Service (Fitch) ratings included are not designed to be, and do not serve as, measures of protection or valuation offered to investors. These financial strength ratings should not be relied on with respect to making an investment in the company’s securities.

S&P states that insurers rated “A” (Strong) or “BB” (Marginal) have strong or marginal financial security characteristics, respectively. The “A” and “BB” ranges are the third- 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+,” “BB+” and “BB-” ratings are the fifth-, eleventh- 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,” “Baa2,” “Ba1” and “Ba3” ratings are the seventh-, ninth-, eleventh- and thirteenth-highest, respectively, of Moody’s 21 ratings categories.

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

DBRS states that long-term obligations rated “AA” are of superior credit quality. The capacity for the payment of financial obligations is considered high and unlikely to be significantly vulnerable to future events. Credit quality differs from “AAA” only to a small degree.

The Australian mortgage insurance subsidiary also solicits a rating from Fitch. Fitch states that “A” (Strong) rated insurance companies are viewed as possessing strong capacity to meet policyholder and contract obligations. The “A” rating category is the third-highest of nine financial strength rating categories, which range from “AAA” to “C.” The symbol (+) or (-) may be appended to a rating to indicate the relative position of a credit within a rating category. These suffixes are not added to ratings in the “AAA” category or to ratings below the “B” category. Accordingly, the “A+” rating is the fifth-highest of Fitch’s 21 ratings categories.

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

S&P, Moody’s, A.M. Best, DBRS, Fitch and HR Ratings review their ratings periodically and the company cannot assure you that it will maintain the current ratings in the future. Other agencies may also rate the company or its insurance subsidiaries on a solicited or an unsolicited basis.

⁽¹⁾  Genworth Financial Mortgage Insurance Company Canada is also rated “AA” by DBRS.

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

51

EX-99.3

Earnings Summary May 2, 2017 First Quarter 2017 Exhibit 99.3

Genworth 1Q17 Earnings Presentation - May 2, 2017 This presentation contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning & include, but are not limited to, statements regarding the outlook for future business and financial performance of Genworth Financial, Inc. (Genworth) and its consolidated subsidiaries. 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 those discussed at the end of this presentation, as well as in the risk factors section of Genworth’s Annual Report on Form 10-K, filed with the United States Securities and Exchange Commission (SEC) on February 27, 2017. Genworth undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise. Non-GAAP1 And Other Items All financial data is as of March 31, 2017 unless otherwise noted. For additional information, please see Genworth’s first quarter of 2017 earnings release and financial supplement posted at genworth.com. For important information regarding the use of non-GAAP and selected operating performance measures, see the Appendix. Unless otherwise noted, all references in this presentation to net income (loss) and adjusted operating income (loss) should be read as net income (loss) available to Genworth’s common stockholders and adjusted operating income (loss) available to Genworth’s common stockholders, respectively. Cautionary Note Regarding Forward-Looking Statements 1U.S. Generally Accepted Accounting Principles

Key Financial Themes For The 1st Quarter Financial Performance U.S. Mortgage Insurance (MI) Strong Performance Continued As First Quarter 2017 Adjusted Operating Income Increased 20% Compared To First Quarter 2016 U.S. MI PMIERS1 Capital Level At 118%, In Excess Of ~$400MM Above Requirements Strong Loss Ratio & Capital Levels For Canada MI U.S. Life Insurance Earnings Benefiting From Seasonally Favorable Existing Claim Termination Experience In Long Term Care Insurance (LTC) Holding Company Cash & Liquid Assets Of ~$1.0 Billion Genworth 1Q17 Earnings Presentation - May 2, 2017 1Private Mortgage Insurer Eligibility Requirements

1Q17 Results Summary – Genworth Consolidated U.S. MI: 73 Strong Seasonal Improvement In Net Cures & Aging Strong Loss Ratio Performance Canada MI: 36 Higher Earned Premiums From Increased NIW In Recent Years Strong Loss Ratio Performance Australia MI: 13 Seasonally Lower Net Cures & Aging Benefits Lower Expenses U.S. Life Insurance: 53 LTC Seasonally Favorable Existing Claim Experience Prior Quarter Reflects Impact From Universal Life2 Assumption Update Of $196MM Unfavorable LTC State Guaranty Fund Assessments Of $14MM After-Tax Runoff: 14 Favorable Market Performance Corporate & Other: (46) Favorable Interest Expense Prior Quarter Reflects Non-Cash Charge Related To Deferred Tax Assets & An Increase In Professional Fees & Legal Expenses Adjusted Operating Income (Loss)1 ($MM) 1Non-GAAP Measure, See Appendix For Additional Information Net Income 53 103 (137) 143 Net Income 155 Net Loss (122) 1Q16 4Q16 1Q17 Genworth 1Q17 Earnings Presentation - May 2, 2017 2Includes Both Universal Life & Term Universal Life Insurance

U.S. Mortgage Insurance ($MM) ($MM) Benefits/Changes In Policy Reserves Premiums Flow NIW7,40011,1007,600 Loss Ratio24%28%17% Primary Delqs (#)27,60225,70923,019 Primary New Delqs (#)8,7619,5048,456 Primary Paid Claims (#)2,2201,3971,563 Primary Cures (#)10,6028,2019,583 % Of RIF1 2009+270%77%79% Premiums Up Versus Prior Year On Solid Growth In Insurance In Force & Down Sequentially On Lower Single Premium Cancellations Single Premium Mix Down Sequentially & Versus Prior Year On Selective Participation Loss Ratio Down Sequentially From Strong Seasonal Net Cures and Aging & Down from Prior Year Reflecting the Continued Decline and Improved Performance in Delinquencies from 2005 -2008 Book Years RIF From 2009+ Continues To Grow As A Percent Of Total 1Risk In Force; 2In 2Q16, All Flow RIF Metrics Were Based Upon More Current Loan Balances As Provided By Servicers, Lenders & Investors & Are Consistent With The Presentation Under PMIERs. 1Q16 Has Been Re-Presented To Reflect These Modified Metrics  Genworth 1Q17 Earnings Presentation - May 2, 2017

Flow NIW2,5003,9002,300 Bulk NIW3,2003,7008,000 Canada Mortgage Insurance ($MM) ($MM) Loss Ratio24%18%16% Total Delqs (#)2,0342,0702,082 New Delqs (#)1,2961,2281,248 Paid Claims (#)363393479 Cures (#)728792757 Benefits/Changes In Policy Reserves Premiums Favorable $6MM Premium Impact From Foreign Exchange (FX) Versus Prior Year & Favorable $1MM Versus The Prior Quarter Flow NIW Decreased Versus The Prior Quarter From Seasonally Smaller Originations Market & Versus The Prior Year From A Smaller Market Size; Several Large Bulk Transactions Completed In The First Quarter Of 2017 Loss Ratio Down Sequentially From A Lower Average Reserve Per Delinquency & Down Versus Prior Year From A Decrease In New Delinquencies, Net Of Cures 2017 Loss Ratio Outlook Changed To A Range Of 20-30% From 25-35% Genworth 1Q17 Earnings Presentation - May 2, 2017

Australia Mortgage Insurance ($MM) ($MM) Benefits/Changes In Policy Reserves Premiums Flow NIW4,4005,0004,100 Bulk NIW--1,000 Loss Ratio26%30%35% Total Delqs (#)5,8896,7316,926 New Delqs (#)2,6972,7862,852 Paid Claims (#)280312356 Cures (#)2,0802,5872,301 Favorable $4MM Premium Impact From Foreign Exchange (FX) Versus Prior Year & Unfavorable $1MM Versus The Prior Quarter Flow NIW Down Sequentially From A Seasonally Smaller Originations Market & Down Versus Prior Year From Lower Levels Of High Loan To Value Lending Loss Ratio Up Versus The Prior Year Driven By Increased New Delinquencies & Up Sequentially Driven Primarily By Seasonally Lower Cures; Mining Regions Remain Pressured 2017 Full Year Loss Ratio Outlook Of 40-50% Genworth 1Q17 Earnings Presentation - May 2, 2017

MI Businesses – Capital Adequacy1 1Company Estimate For 1Q17, Due To Timing Of The Filing Of Statutory Statements; 2Risk-To-Capital; 3Calculated As Available Assets Divided By Required Assets As Defined Within PMIERs. As of March 31, 2017, December 31, 2016, & March 31, 2016, The PMIERs Sufficiency Ratios Were In Excess Of ~$400 Million, ~$350 Million & ~$300 Million, Respectively, Of Available Assets Above The PMIERs Requirements. Company Estimate For 1Q17; 4Minimum Capital Test; 5Prescribed Capital Amount New Regulatory Capital Framework Effective January 1, 2017 With Recalibrated Minimum Requirement Of 150% & Targeted Range Of 160 - 165% Target PCA Range: 132 to 144% Target MCT Ratio: 220% PCA Ratio Increasing Sequentially Primarily From Portfolio Seasoning Strong PMIERS Sufficiency Ratio In Excess Of ~$400 Above Requirements Australia – PCA5 (%) Canada – MCT4 (%) U.S. MI – Consolidated RTC2 Target RTC Ratio: <18.0:1 PMIERs Sufficiency3113%115%118% Genworth 1Q17 Earnings Presentation - May 2, 2017 Target MCT Range: 160 - 165%

1Q17 Summary – U.S. Life Insurance ($MM) Highlights Adjusted Operating Income (Loss) 91 (154) 53 Life Fixed Annuities LTC LTC Existing Claim Experience Favorable Sequentially & Versus Prior Year Higher Reserve Release Sequentially From Additional Reduced Benefit Elections By In Force Policyholders Unfavorable $14MM After-Tax State Guaranty Fund Assessments Life Insurance Improved Mortality & Variable Investment Income Versus Prior Quarter, But Unfavorable Versus The Prior Year 4Q16 Results Reflect Impact From Universal Life Assumption Update Of $196MM After-Tax Unfavorable 1Q17 Reserve Growth Reflecting Universal Life Assumptions Updates From 4Q16 Fixed Annuities 4Q16 Results Include A Benefit Of $10MM After-Tax From Annual Assumption Updates & A Benefit Of $6MM After-Tax From A State Guaranty Fund Assessment Adjustment Genworth 1Q17 Earnings Presentation - May 2, 2017

Benefits & Other Changes In Policy Reserves & Loss Ratio (%) Long Term Care Insurance Results Reflect Low Interest Rate Environment & Variability In Prepayment Speeds, Limited Partnership Performance & Bond Call Income Favorable Existing Claim Experience $57MM In 1Q17 Estimated Pre-Tax Impact From In Force Premium Rate Actions Implemented In 1Q171 $102MM Estimated Pre-Tax Benefit In 1Q17 From Implemented In Force Premium Rate Actions1 Net Investment Income & Yield Premiums 67.6% 78.6% 72.0% 1$152MM Pre-Tax (Or $99MM After-Tax) Impact From Rate Actions In 1Q17 Includes $(7)MM Pre-Tax Impact From Commissions, Premium Tax & Other Adjustments ($MM) ($MM) ($MM) Genworth 1Q17 Earnings Presentation - May 2, 2017

LTC In Force Premium Rate Increase Estimated Adjusted Operating Income From Rate Actions2 ($MM)186255 38599 1Includes All Implemented Rate Actions Since 2012. Earned Premium & Reserve Change Estimates Reflect Certain Simplifying Assumptions That May Vary Materially From Actual Historical Results, Including But Not Limited To, A Uniform Rate Of Co-Insurance & Premium Taxes In Addition To Consistent Policyholder Behavior Over Time. Actual Behavior May Differ Significantly From These Assumptions; Excludes Reserve Updates Resulting From Profits Followed By Losses; 2Estimated Adjusted Operating Income From Rate Actions Includes Estimates For Commissions & Premium Taxes, Net Of Tax Of $(8)MM, $(14)MM, $(19)MM, $(4)MM Respectively; 32016 Included ($4MM) After-Tax Unfavorable Correction Related To The Calculation For Reduced Benefit Options Premiums, Net Reserve Changes, Net Rate Action Progress Estimated Impact To Adjusted Operating Income (Loss) From Rate Actions & Key Drivers1 Genworth 1Q17 Earnings Presentation - May 2, 2017 Approved Filings 1H16 Actual 2H16 Actual 2016 Actual 1Q17 Actual Comments State Filings Approved 52 44 96 11 1Q17 Results In Line With 2016 Margin Testing; Majority Of 2017 Approvals Anticipated In 2H17 Impacted In Force Premium ($MM) 344 375 719 98 Weighted Average % Rate Increase Approved on Impacted In Force 25% 32% 28% 22% Filings Submitted 1H16 Actual 2H16 Actual 2016 Actual 1Q17 Actual Comments State Filings Submitted 45 34 79 18 1Q17 Results In Line With 2016 Margin Testing; Filing Activity Expected To Increase 2Q17 Through 4Q17 In Force Premium Submitted ($MM) 554 280 834 24

Benefits & Other Changes In Policy Reserves Life Insurance Variability In Prepayment Speed Adjustments Impacting Reported Net Investment Income & Yield 4Q16 Reflects Increase Of $208MM Pre-Tax From Annual Assumption Review 1Q16 Reflects $331MM Decrease To Reserves From Initial Impact Of Life Block Transaction 1Q16 Reflects $326MM Reduction In Premiums From Initial Impact Of Life Block Transaction Net Investment Income & Yield Premiums & Policy Fees & Other Income ($MM) ($MM) ($MM) Genworth 1Q17 Earnings Presentation - May 2, 2017

SPDA2 Spread1.63%1.65%1.55% SPIA3 Spread1.03%1.12%0.88% Fixed Annuities 1Net Investment Income Less Interest Credited; 2Single Premium Deferred Annuities; Excludes Fixed Indexed Annuities; 3Single Premium Immediate Annuities; Includes Both Paid & Unpaid Interest Credited; 4Excludes Incurred But Not Reported; Mortality Gain (Loss) Represents The Pre-Tax Income Impact Of The Product's Actual Mortality Experience Compared To The Mortality Assumptions Embedded In The Reserves Of The Product ($MM) ($MM) Benefits/Changes In Policy Reserves & SPIA Mortality Net Investment Spread1 SPIA Mortality G/(L)4-(2)3 Variability In Prepayment Speeds, Limited Partnership Performance & Bond Call Income Impacting Reported Investment Spreads Favorable Mortality Versus Prior Quarter More Than Offset By Positive Reserve Adjustments In The Fourth Quarter Of 2016 & Negative Reserve Adjustments In The First Quarter Of 2017 Genworth 1Q17 Earnings Presentation - May 2, 2017

1Non-GAAP Measure, See Appendix Genworth 1Q17 Earnings Presentation - May 2, 2017 Net Investment Income ($MM) Highlights Net Investment Income GNW Reported Yield4.51%4.50%4.53% GNW Core Yield14.36%4.47%4.48% U.S. Life Ins. Segment Reported Yield5.10%4.79%4.80% Impairments(11)(5)(1) Continued Variability In Net Investment Income From Prepayment Speeds, Limited Partnership Performance & Bond Call Income $3.3B Of Purchases In 1Q17 ~$3.0B Primarily In Investment Grade Public Corporates & Structured Securities With An Average Yield Of 3.74% ~$0.3B In Short-Term Holdings & Temporary U.S. Treasuries With An Average Yield Of 1.73%

Variance (99) 1 Holding Company Cash & 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.; 2 Comprises Cash & Cash Equivalents Of $998MM & U.S. Government Bonds Of $100MM As Of December 31, 2016 & Comprises Cash & Cash Equivalents Of $849MM & U.S Government Bonds Of $150MM As Of March 31, 2017; 3 Excludes $13MM Of Dividends Held At An Intermediate Holding Company At 12/31/16 That Was Received By Genworth Holdings, Inc. As An Ordinary Dividend During 1Q17 $39MM Received From Australia & Canada MI During 1Q17 $(5)MM Additional Pledged Cash Collateral For Cleared Derivative Trades $(71)MM Holding Company Net Other Items Mostly Related To Timing Of Compensation Benefits & Other Miscellaneous Items 1Q17 Balance Includes $175MM Committed To Facilitate The Separation & Isolation Of The LTC Business ~$74MM Restricted Cash/ Liquid Assets ($MM) Cash & Liquid Assets Roll Forward Holding Company Cash & Liquid Assets1 1.5x Debt Int. Exp. ~$85MM Restricted Cash/Liquid Assets Genworth 1Q17 Earnings Presentation - May 2, 2017

Appendix Genworth 1Q17 Earnings Presentation - May 2, 2017

Total Genworth Financial, Inc.’s Stockholders’ Equity (GAAP) ($MM) 1Q17 4Q16 3Q16 2Q16 1Q16 U.S. MI 2,183 2,070 2,089 2,015 1,814 Canada MI 1,617 1,565 1,601 1,592 1,551 Australia MI 701 651 687 706 773 U.S. Life Insurance 10,943 10,980 12,897 11,868 11,280 LTC1 7,420 7,621 8,957 8,155 7,666 Life Insurance1 2,615 2,452 2,892 2,640 2,584 Fixed Annuities1 908 907 1,048 1,073 1,030 Runoff1 582 671 616 557 675 Corporate & Other1,2 (3,214) (3,293) (3,019) (1,605) (2,038) Total 12,812 12,644 14,871 15,133 14,055 1Includes Estimate Of Allocated Deferred Tax Balances By Product Line; 2Includes Value Of Long-Term Borrowings Of Genworth Holdings, Inc. Genworth 1Q17 Earnings Presentation - May 2, 2017

Use Of Non-GAAP Measures This presentation includes the non-GAAP financial measures entitled “adjusted operating income (loss).” The chief operating decision maker evaluates segment performance and allocates resources on the basis of adjusted operating income (loss). The company defines adjusted operating income (loss) as income (loss) from continuing operations excluding the after-tax effects of income 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 adjusted operating income (loss) because, in the company's opinion, they are not indicative of overall operating trends. Infrequent or unusual non-operating items are also excluded from adjusted operating income (loss) if, in the company's opinion, they are not indicative of overall operating trends.   While some of these items may be significant components of net income (loss) available to Genworth's common stockholders in accordance with GAAP, the company believes that adjusted operating income (loss) and measures that are derived from or incorporate adjusted operating income (loss), are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses adjusted operating income (loss) as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. However, the items excluded from adjusted operating income (loss) have occurred in the past and could, and in some cases will, recur in the future. Adjusted operating income (loss) are not substitutes for net income (loss) available to Genworth's common stockholders determined in accordance with GAAP. In addition, the company's definition of adjusted operating income (loss) may differ from the definitions used by other companies.   Adjustments to reconcile net income (loss) attributable to Genworth's common stockholders and adjusted operating income (loss) assume a 35 percent tax rate (unless otherwise indicated) 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.   In the first quarter of 2016, the company recorded an estimated pre-tax loss of $7 million and a tax benefit of $27 million related to the planned sale of the mortgage insurance business in Europe. These transactions were excluded from adjusted operating income (loss) for the periods presented as they related to a gain (loss) on the sale of businesses.   In January 2016, the company paid a pre-tax make-whole expense of $20 million related to the early redemption of Genworth Holdings, Inc.’s (Genworth Holdings) 2016 notes. The company also repurchased $28 million principal amount of Genworth Holdings’ notes with various maturity dates for a pre-tax gain of $4 million in the first quarter of 2016. These transactions were excluded from adjusted operating income (loss) for the periods presented as they related to a gain (loss) on the early extinguishment of debt.   In the first quarter of 2016, the company completed a life block transaction resulting in a pre-tax loss of $9 million in connection with the early extinguishment of non-recourse funding obligations.   In the first quarter of 2017 and 2016, the company recorded a pre-tax expense of $1 million and $15 million, respectively, related to restructuring costs as part of an expense reduction plan as the company evaluates and appropriately sizes its organizational needs and expenses.   There were no infrequent or unusual items excluded from adjusted operating income (loss) during the periods presented other than fees incurred during the first quarter of 2016 related to Genworth Holdings’ bond consent solicitation of $18 million for broker, advisor and investment banking fees.   This presentation 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 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. 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 this appendix. Genworth 1Q17 Earnings Presentation - May 2, 2017

Reconciliation Of Net Income (Loss) To Adjusted Operating Income (Loss) Genworth 1Q17 Earnings Presentation - May 2, 2017 2017 1Q 4Q 1Q NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.'S COMMON STOCKHOLDERS 155 $ (122) $ 53 $ Add: net income attributable to noncontrolling interests 61 59 55 NET INCOME (LOSS) 216 (63) 108 Loss from discontinued operations, net of taxes - (4) (19) INCOME (LOSS) FROM CONTINUING OPERATIONS 216 (59) 127 Less: income from continuing operations attributable to noncontrolling interests 61 59 55 INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.'S COMMON STOCKHOLDERS 155 (118) 72 ADJUSTMENTS TO INCOME (LOSS) FROM CONTINUING OPERATIONS AVAILABLE TO GENWORTH FINANCIAL, INC.'S COMMON STOCKHOLDERS: Net investment (gains) losses, net (see below for reconciliation) (20) (28) 19 Losses on sale of businesses - - 7 Losses on early extinguishment of debt, net - - 16 Losses from life block transactions - - 9 Expenses related to restructuring 1 - 15 Fees associated with bond consent solicitation - - 18 Taxes on adjustments 7 9 (53) ADJUSTED OPERATING INCOME (LOSS) 143 $ (137) $ 103 $ ADJUSTED OPERATING INCOME (LOSS): U.S. Mortgage Insurance segment 73 $ 61 $ 61 $ Canada Mortgage Insurance segment 36 39 33 Australia Mortgage Insurance segment 13 14 19 U.S. Life Insurance segment: Long-Term Care Insurance 14 (1) 34 Life Insurance 16 (193) 31 Fixed Annuities 23 40 26 Total U.S. Life Insurance segment 53 (154) 91 Runoff segment 14 6 4 Corporate and Other (46) (103) (105) ADJUSTED OPERATING INCOME (LOSS) 143 $ (137) $ 103 $ Reconciliation of net investment gains (losses): Net investment gains (losses), gross 34 $ 41 $ (19) $ Adjustments for: Deferred acquisition costs and other intangible amortization and certain benefit reserves - (1) 9 Net investment (gains) losses attributable to noncontrolling interests (14) (12) (9) Net investment gains (losses), net 20 $ 28 $ (19) $ 2016

Reconciliation Of Core Yield To Reported Yield Genworth 1Q17 Earnings Presentation - May 2, 2017 2017 (Assets - amounts in billions) 1Q 4Q 1Q Reported - Total Invested Assets and Cash 74.7 $ 74.4 $ 76.0 $ Subtract: Securities lending 0.3 0.5 0.4 Unrealized gains (losses) 4.6 4.3 6.3 Adjusted end of period invested assets and cash 69.8 $ 69.6 $ 69.3 $ (A) Average Invested Assets and Cash Used in Reported Yield Calculation 69.7 $ 69.8 $ 70.0 $ Subtract: Restricted commercial mortgage loans and other invested assets related to securitization entities (1) 0.1 0.1 0.2 (B) Average Invested Assets and Cash Used in Core Yield Calculation 69.6 $ 69.7 $ 69.8 $ (Income - amounts in millions) (C) Reported - Net Investment Income 790 $ 786 $ 789 $ Subtract: Bond calls and commercial mortgage loan prepayments 6 22 11 Other non-core items (2) 3 (17) 15 Restricted commercial mortgage loans and other invested assets related to securitization entities (1) 1 2 3 (D) Core Net Investment Income 780 $ 779 $ 760 $ (C) / (A) Reported Yield 4.53% 4.50% 4.51% (D) / (B) Core Yield 4.48% 4.47% 4.36% Notes: Columns may not add due to rounding. Yields have been annualized. 2016 (1) Represents the incremental assets and investment income related to restricted commercial mortgage loans and other invested assets. (2) Includes cost basis adjustments on structured securities and various other immaterial items.

Definition Of Selected Operating Performance Measures Management uses 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 new insurance written for mortgage insurance. Sales do not include renewal premiums on policies or contracts written during prior periods. The company considers new insurance written to be a measure of the company's operating performance because they represent a measure of new sales of insurance policies or contracts during a specified period, rather than a measure of the company's revenues or profitability during that period. Management regularly monitors and reports insurance in force and risk in force. Insurance in force for the mortgage insurance businesses is a measure of the aggregate original loan balance for outstanding insurance policies as of the respective reporting date. Risk in force for the U.S. mortgage insurance business is based on the coverage percentage applied to the estimated current outstanding loan balance. For risk in force in the mortgage insurance businesses in Canada and Australia, 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 mortgage insurance businesses in Canada and Australia. In Australia, the company has certain risk share arrangements where it provides pro-rata coverage of certain loans rather than 100% coverage. As a result, for loans with these risk share arrangements, the applicable pro-rata coverage amount provided is used when applying the factor. The company considers insurance in force and risk in force to be measures of the company's operating performance because they represent measures of the size of the business at a specific date which will generate revenues and profits in a future period, rather than measures of the company's revenues or profitability during that period. Management also regularly monitors and reports a loss ratio for the company’s businesses. For the mortgage insurance businesses, the loss ratio is the ratio of incurred losses and loss adjustment expenses to net earned premiums. For the long term care insurance business, the loss ratio is the ratio of benefits and other changes in reserves less tabular interest on reserves less loss adjustment expenses to net earned premiums. The company considers the loss ratio to be a measure of underwriting performance in these businesses and helps to enhance the understanding of the operating performance of the businesses. An assumed tax rate of 35% is utilized in certain adjustments to adjusted 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. The company allocates the consolidated provision for income taxes to its operating segments. The allocation methodology applies a specific tax rate to the pre-tax income (loss) of each segment, which is then adjusted in each segment to reflect the tax attributes of items unique to that segment such as foreign income. The difference between the consolidated provision for income taxes and the sum of the provision for income taxes in each segment is reflected in Corporate and Other activities. The annually-determined tax rates and adjustments to each segment’s provision for income taxes are estimates which are subject to review and could change from year to year. Results Of Operations By Segment Genworth 1Q17 Earnings Presentation - May 2, 2017

Cautionary Note Regarding Forward-Looking Statements This presentation 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 our 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 related to the proposed transaction with China Oceanwide Holdings Group Co., Ltd. (Oceanwide) including: our inability to complete the transaction in a timely manner or at all; the parties will not be able to obtain regulatory approvals, or the possibility that they may delay the transaction or that materially burdensome or adverse regulatory conditions may be imposed in connection with any such regulatory approvals; existing and potential legal proceedings may be instituted against us in connection with the announcement of the transaction that may delay the transaction, make it more costly or ultimately preclude it; the risk that the proposed transaction disrupts Genworth’s current plans and operations as a result of the announcement and consummation of the transaction; certain restrictions during the pendency of the transaction that may impact Genworth’s ability to pursue certain business opportunities or strategic transactions; continued availability of capital and financing to Genworth before, or in the absence of, the consummation of the transaction; further rating agency actions and downgrades in Genworth’s debt or financial strength ratings; changes in applicable laws or regulations; our ability to recognize the anticipated benefits of the transaction; the amount of the costs, fees, expenses and other charges related to the transaction; the risks related to diverting management’s attention from our ongoing business operations; the merger agreement may be terminated in circumstances that would require us to pay Oceanwide a fee; our ability to attract, recruit, retain and motivate current and prospective employees may be adversely affected; and disruptions and uncertainty relating to the transaction, whether or not it is completed, may harm our relationships with our employees, customers, distributors, vendors or other business partners, and may result in a negative impact on our business; strategic risks in the event the proposed transaction with Oceanwide is not consummated including: our inability to successfully execute alternative strategic plans to effectively address our current business challenges (including with respect to the restructuring of our U.S. life insurance businesses, debt obligations, cost savings, ratings and capital); our inability to attract buyers for any businesses or other assets we may seek to sell, or securities we may seek to issue, in each case, in a timely manner and on anticipated terms; failure to obtain any required regulatory, stockholder and/or noteholder approvals or consents for such alternative strategic plans, or our challenges changing or being more costly or difficult to successfully address than currently anticipated or the benefits achieved being less than anticipated; inability to achieve anticipated cost-savings in a timely manner; or adverse tax or accounting charges; and inability to increase the capital needed in our businesses in a timely manner and on anticipated terms, including through improved business performance, reinsurance or similar transactions, asset sales, securities offerings or otherwise, in each case as and when required; risks relating to estimates, assumptions and valuations including: inadequate reserves and the need to increase reserves (including as a result of any changes we may make to our assumptions, methodologies or otherwise in connection with periodic or other reviews); inaccurate models; deviations from our estimates and actuarial assumptions or other reasons in our long-term care insurance, life insurance and/or annuity businesses; accelerated amortization of deferred acquisition costs (“DAC”) and present value of future profits (“PVFP”) (including as a result of any changes we may make to our assumptions, methodologies or otherwise in connection with periodic or other reviews); adverse impact on our financial results as a result of projected profits followed by projected losses (as is currently the case with our long-term care insurance business); and changes in valuation of fixed maturity, equity and trading securities; risks relating to economic, market and political conditions including: downturns and volatility in global economies and equity and credit markets; interest rates and changes in rates (particularly given the historically low interest rate environment) have adversely impacted, and may continue to materially adversely impact, our business and profitability; deterioration in economic conditions or a decline in home prices that adversely affect our loss experience in mortgage insurance; political and economic instability or changes in government policies; and fluctuations in foreign currency exchange rates and international securities markets; Genworth 1Q17 Earnings Presentation - May 2, 2017

Cautionary Note Regarding Forward-Looking Statements Genworth 1Q17 Earnings Presentation - May 2, 2017 regulatory and legal risks including: extensive regulation of our businesses and changes in applicable laws and regulations; litigation and regulatory investigations or other actions; dependence on dividends and other distributions from our subsidiaries (particularly our international subsidiaries) and the inability of any subsidiaries to pay dividends or make other distributions to us, including as a result of the performance of our subsidiaries and insurance, regulatory or corporate law restrictions; adverse change in regulatory requirements, including risk-based capital; changes in regulations adversely affecting our international operations; inability to maintain the private mortgage insurer eligibility requirements (“PMIERs”); inability of our U.S. mortgage insurance subsidiaries to meet minimum statutory capital requirements and hazardous financial condition standards; the influence of Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and a small number of large mortgage lenders on the U.S. mortgage insurance market and adverse changes to the role or structure of Fannie Mae and Freddie Mac; adverse changes in regulations affecting our mortgage insurance businesses; inability to continue to implement actions to mitigate the impact of statutory reserve requirements; impact of additional regulations pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act; and changes in accounting and reporting standards; liquidity, financial strength ratings, credit and counterparty risks including: insufficient internal sources to meet liquidity needs and limited or no access to capital (including our inability to replace our credit facility); future adverse rating agency actions, including with respect to rating downgrades or potential downgrades or being put on review for potential downgrade, all of which could have adverse implications for us, including with respect to key business relationships, product offerings, business results of operations, financial condition and capital needs, strategic plans, collateral obligations and availability and terms of hedging, reinsurance and borrowings; defaults by counterparties to reinsurance arrangements or derivative instruments; defaults or other events impacting the value of our fixed maturity securities portfolio; and defaults on our commercial mortgage loans or the mortgage loans underlying our investments in commercial mortgage-backed securities and volatility in performance; operational risks including: inability to retain, attract and motivate qualified employees or senior management; ineffective or inadequate risk management in identifying, controlling or mitigating risks; reliance on, and loss of, key customer or distribution relationships; availability, affordability and adequacy of reinsurance to protect us against losses; competition; competition in our mortgage insurance businesses from government and government-owned and government-sponsored enterprises (“GSEs”) offering mortgage insurance; the design and effectiveness of our disclosure controls and procedures and internal control over financial reporting may not prevent all errors, misstatements or misrepresentations; and failure or any compromise of the security of our computer systems, disaster recovery systems and business continuity plans and failures to safeguard, or breaches of, our confidential information; insurance and product-related risks including: our inability to increase sufficiently, and in a timely manner, premiums on in-force long-term care insurance policies and/or reduce in-force benefits, and charge higher premiums on new policies, in each case, as currently anticipated and as may be required from time to time in the future (including as a result of our failure to obtain any necessary regulatory approvals or unwillingness or inability of policyholders to pay increased premiums), our inability to reflect future premium increases and other management actions in our margin calculation as anticipated, failure to sufficiently increase new sales for our long-term care insurance products; inability to realize anticipated benefits of our rescissions, curtailments, loan modifications or other similar programs in our mortgage insurance businesses; premiums for the significant portion of our mortgage insurance risk in-force with high loan-to-value ratios may not be sufficient to compensate us for the greater risks associated with those policies; decreases in the volume of high loan-to-value mortgage originations or increases in mortgage insurance cancellations; increases in the use of alternatives to private mortgage insurance and reductions in the level of coverage selected; potential liabilities in connection with our U.S. contract underwriting services; and medical advances, such as genetic research and diagnostic imaging, and related legislation that impact policyholder behavior in ways adverse to us; other risks including: occurrence of natural or man-made disasters or a pandemic; impairments of or valuation allowances against our deferred tax assets; the possibility that in certain circumstances we will be obligated to make payments to General Electric Company (“GE”) under the tax matters agreement with GE even if our corresponding tax savings are never realized and payments could be accelerated in the event of certain changes in control; and provisions of our 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 our common stock including: the continued suspension of payment of dividends; and 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.