Genworth Financial Inc · NYSE:GNW
Genworth Financial — Q3 2025 Earnings Presentation
24 slides from Genworth Financial's earnings presentation, Nov 5, 2025
Slide 1: 3Q Investor Presentation: Earnings Summary
3Q Investor Presentation Earnings Summary November 5, 2025 1
Slide 2: Cautionary Note Regarding Forward-Looking Statements
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,”
Slide 3: Financial Performance in 3rd Quarter
Financial Performance in 3rd Quarter — Net income1 of $116M, or $0.28 per diluted share, and adjusted operating income1,2 of $17M, or $0.042 per diluted share — Enact reported adjusted operating income of $134M1; distributed $110M in capital returns to Genworth — U.S. life insurance companies’ RBC3
Slide 4: Genworth's Strategic Pillars
Genworth’s Strategic Pillars Maintain Create Value Drive Growth Self-Sustainability Create shareholder value Maintain self-sustaining, Drive future growth through through Enact’s growing customer-centric legacy CareScout with innovative, market value and insurance companies, including consumer-focus
Slide 5: 3rd Quarter Progress on Genworth's Strategic Pillars
3rd Quarter Progress on Genworth’s Strategic Pillars Maintain Create Value Drive Growth Self-Sustainability $110M capital returns received ~$31.8B estimated NPV2 achieved Continued CQN4 growth, with 950 from Enact, with $1.2B since from LTC IFAs3 since 2012 matches5 in 3Q Enact’s IPO1 Acquired Senio
Slide 6: CareScout: Enabling Families to Understand, Find and Fund Quality Care
CareScout: Enabling Families to Understand, Find and Fund Quality Care Addressing an underserved need… …with a comprehensive set of solutions, leveraging the most extensive LTC claims data in the industry. 71M Americans will be age 65 or older by 20291 of Americans over 70% age 65 will need long- te
Slide 7: Scaling the CareScout Services Platform
Scaling the CareScout Services Platform Care Providers: Offering quality care solutions Care Seekers: Looking for quality care solutions Number of Home Care Providers in the CQN Continued Growth in Matches Between Care Seekers Continues to Grow and CQN Providers +13% Network in all 50 states VPQ +18
Slide 8: Introducing the Next Generation of LTC with Care Assurance
Introducing the Next Generation of LTC with Care Assurance Leveraging more than 50 years of experience to deliver more sustainable care funding solutions through CareScout Insurance Company Care Assurance Increased Price Stability More conservative pricing assumptions help mitigate the need for futu
Slide 9: 3Q25 Results Summary – Genworth Consolidated (GAAP)
3Q25 Results Summary – Genworth Consolidated (GAAP) Enact: $134M1 Adjusted Operating Income (Loss)1 ($M) — Cure performance remains strong, driving reserve releases — Lower income than the prior year primarily driven by lower 3Q25 2Q25 3Q24 reserve release Long-Term Care Insurance: $(100)M $68 $48 $
Slide 10: Enact Segment
Enact Segment Primary IIF1 ($B) Earned Premiums ($M) $272 $270 $268 $245 $245 $249 3Q25 2Q25 3Q24 3Q25 2Q25 3Q24 Primary NIW $14,048 $13,254 $13,591 Portfolio up 2% year-over-year driven by new insurance Earned premiums decreased slightly versus the prior year as IIF written (NIW) and continued elev
Slide 11: Enact Segment
Enact Segment Benefits & Changes in Sufficiency to PMIERs2 ($M) Policy Reserves ($M) 173% 162% 165% $36 $25 $2,190 $12 $1,904 $1,961 3Q25 2Q25 3Q24 Loss Ratio 15% 10% 5% Primary Delqs (#) 23,382 22,118 21,027 Primary New Delqs (#) 12,998 11,567 12,964 Primary Paid Claims (#) 253 218 220 9/30/25 6/30
Slide 12: Proactively Managing LTC Risk
Proactively Managing LTC Risk Effective in-force management proactively addresses risk in the legacy LTC block by building • resiliency, with focus on 3 key areas: 1 MYRAP1 Progress — The MYRAP continues to be the most effective tool for maintaining ~$31.8B Estimated NPV of IFAs Achieved since 2012
Slide 13: U.S. Life Statutory Results
U.S. Life1 Statutory Results Statutory Pre-Tax Income (Loss)2,3 ($M) 3Q25 2Q25 3Q24 LTC Statutory Pre-Tax Income (Loss) ($M) Long-Term Care Insurance (75) (26) (9) Total (75) (26) (9) Life Insurance (2) 18 (29) 342 410 Annuities 65 89 20 Income From IFAs4 337 Combined Statutory Pre-Tax Income (Loss)
Slide 14: Investment Portfolio Holdings
Investment Portfolio Holdings1 Fixed Maturities by Sector Composition of Portfolio Fixed Maturity Securities Sector Fair Value ($B) % Of Total $61.4B Government & Municipal 6.9 16% Residential & Commercial MBS3 2.4 5% Fixed Maturities Other Asset-Backed Securities 2.1 4% - State & Fixed Maturities C
Slide 15: Holding Company Cash & Liquid Assets
Holding Company Cash & Liquid Assets1 ($M) 58 (81) 110 (74)3 (7) 2482 2542 6/30/25 Enact capital Net tax CareScout Share repurchases Debt service 9/30/25 returns payments Insurance $110M in capital returns from Enact received in 3Q25, including $25M from quarterly dividend and $85M in share repurcha
Slide 16: Capital Allocation & Shareholder Returns
Capital Allocation & Shareholder Returns Capital Allocation Priorities Share Repurchase Program 1 Invest in long-term growth — CareScout Services: Funding to continue to support Inception of Share expansion to other LTC carriers, scale for tech-enabled Repurchase Program platform and invest in marke
Slide 17: Appendix
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Slide 18: LTC In-Force Rate Action Progress
LTC In-Force Rate Action Progress Approvals and Filings Cumulative Policyholder Responses1 3Q24 3Q25 58.7% 60.5% Approved Filings 2023 2024 YTD YTD 52.7% State Filings Approved 117 97 72 48 22.2% 26.0% 26.9% NFO2 Impacted In-Force Premium ($M) 697 870 695 270 Weighted Average % Rate Increase Approve
Slide 19: LTC Claims Trends by Product – Statutory
LTC Claims Trends by Product – Statutory LTC Direct Paid Claims by Product ($M) — Paid claims on newer products 2,723 continue to increase as 2,485 125 policyholders approach peak claim Flex, MFMP, & 2,245 105 472 Group 2,167 age, as claims on the older products Avg Age 69 86 380 2,026 107 past peak
Slide 20: LTC In-Force Policy Information
LTC In-Force1 Policy Information Total 2 3 As of 9/30/25 Pre PCS PCS I PCS II Choice I Choice II PC Flex MFMP PC Flex II PC Flex III Individual Group Total Issue Years 1974-1994 1994-1997 1997-2001 2001-2007 2003-2011 2011-2014 2009-2013 2013-2017 2014+ 1999+ 4 Annual Premium ($M) 25 67 244 642 991
Slide 21: Use of Non-GAAP Measures
Use of Non-GAAP Measures Management evaluates performance and allocates resources based on a non-GAAP financial measure entitled “adjusted operating income (loss).” Management evaluates adjusted operating income (loss) as a key • measure to assess performance and support new business initiatives bec
Slide 22: Reconciliation of Net Income to Adjusted Operating Income (Unaudited)
Reconciliation of Net Income to Adjusted Operating Income (Unaudited) ($M, except per share amounts) 2025 2024 3Q 2Q 3Q NET INCOME AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS $ 116 $ 51 $ 85 Add: net income attributable to noncontrolling interests 31 32 33 NET INCOME 147 83 118 Less:
Slide 23: Cautionary Note Regarding Forward-Looking Statements
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,”
Slide 24: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements • changes in the composition of Enact Holdings’ business or undue concentration by customer or geographic region; • • the impact from deficiencies in the company’s disclosure controls and procedures or internal control over financial reporting; •