Genworth Financial Inc · NYSE:GNW
Genworth Financial — Proxy Contest (May 2022)
13 slides from Genworth Financial's proxy contest presentation, May 10, 2022
Slide 1: Genworth Investor Update May 9, 2022
Genworth Investor Update May 9, 2022 ©2022 Genworth Financial, Inc. All rights reserved.
Slide 2: Delivered Strong Financial Performance in 2021
Delivered Strong Financial Performance in 2021 Net Income ($M) Adjusted Operating Income(1) ($M) $904 $765 +407% +147% $310 $178 2020 2021 2020 2021 (1) See Slides 11-12 for GAAP to Non-GAAP reconciliation. 1
Slide 3: Strategic Execution Built on Progress Delivered in 2021
Strategic Execution Built on Progress Delivered in 2021  Completed partial IPO of Enact Enhance value of  Received $163M dividend payment from Enact in 4Q21 Enact to Genworth  Enact recognized by rating agencies for improved financial flexibility and risk profile with credit ratings upgrade
Slide 4: A Highly Qualified and Refreshed Board
A Highly Qualified and Refreshed Board Genworth’s Board of Directors regularly reviews its composition to ensure it has • December 2020: Independent relevant skills and expertise to guide the Company’s strategic direction director Karen Dyson added to Board The Board has added five new independent d
Slide 5: An Experienced and Independent Management Development and Compensation Committee
An Experienced and Independent Management Development and Compensation Committee The Management Development and Compensation Committee (the “Compensation Committee”) oversees executive compensation and succession planning All members are highly qualified, independent directors with the right skills,
Slide 6: Compensation Philosophy & Highlights
Compensation Philosophy & Highlights ï,§ Our objective in compensating executive officers is to attract, retain and motivate employees of superior ability who are dedicated to the long-term interests of our stockholders • We support the achievement of this objective by incorporating a significant am
Slide 7: Design of Compensation Program
Design of Compensation Program ï,§ The Compensation Committee typically utilizes a combination of publicly available information related to a specific list of peer companies (the “Peer Group”), as well as information available through market compensation surveysï,§ The Compensation Committee engages
Slide 8: Genworth CEO Compensation In Line with Best Practices
Genworth CEO Compensation In Line with Best Practices ï,§ The 2021 annual incentive award to our CEO Tom McInerney was tied to financial and strategic measures that support the creation of long-term value. Mr. McInerney’s approved 2021 incentive award was ~150% of his targeted amount due to strong f
Slide 9: Genworth CEO Compensation In Line with Peers
Genworth CEO Compensation In Line with Peers ï,§ The Peer Group selected by the Compensation Committee, with the assistance of its independent compensation consultant, is intended to represent other complex insurance companies with similar revenue sources and talent demands ï,§ Total CEO compensatio
Slide 10: Peer Group Includes Other Complex Insurance Companies
Peer Group Includes Other Complex Insurance Companies ISS and Company Peer Groups ISS Selected (7) (1) American Equity Investment Life Arch Capital Group Ltd. American National Group, Inc. Brighthouse Financial, Inc. Globe Life Inc. Kemper Corporation W.R. Berkley Corp. Shared (11) Aflac Incorporate
Slide 11: Important Additional Information and Where to Find It
Important Additional Information and Where to Find It Genworth Financial, Inc. (the “Company” or “Genworth”) has filed a definitive proxy statement on Schedule 14A, an accompanying WHITE proxy card and other relevant documents with the U.S. Securities and Exchange Commission (the “SEC”) in connectio
Slide 12: Reconciliation of Net Income to Adjusted Operating Income
Reconciliation of Net Income to Adjusted Operating Income $MM Full Year 2021 2020 NET INCOME AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS $ 904 $ 178 Add: net income from continuing operations attributable to noncontrolling interests 33 -Add: net income (loss) from discontinued operat
Slide 13: Use of Non-GAAP Measures
Use of Non-GAAP Measures This presentation 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