Genworth Financial Inc · NYSE:GNW
Genworth Financial — Q1 2026 Earnings Presentation
25 slides from Genworth Financial's earnings presentation, May 6, 2026
Slide 1: 1Q Investor Presentation: Earnings Summary
1Q Investor Presentation Earnings Summary May 5, 2026 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 1st Quarter
Financial Performance in 1st Quarter — Net income1 of $47M, or $0.12 per diluted share, and adjusted operating income, excluding Closed Block1,2 of $109M, or $0.28 per diluted share — Enact reported adjusted operating income of $140M1; distributed $99M in capital returns to Genworth, PMIERs sufficie
Slide 4: Genworth's Strategic Pillars
Genworth’s Strategic Pillars Maintain Create Value Drive Growth Self-Sustainability Create shareholder value Drive future growth through Maintain self-sustaining, through Enact’s growing CareScout with innovative, customer-centric legacy market value and consumer-focused aging care insurance compani
Slide 5: 1st Quarter Progress on Genworth's Strategic Pillars
1st Quarter Progress on Genworth’s Strategic Pillars Maintain Create Value Drive Growth Self-Sustainability Growth in services, with 1,486 $99M capital returns received from ~$34.5B estimated NPV2 achieved matches1 with home care & senior Enact from LTC IFAs3 since 2012 living community (SLC) provid
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: CareScout Services: Expanding Reach and Driving Match Growth
CareScout Services: Expanding Reach and Driving Match Growth Care Providers: Offering quality care solutions Care Seekers: Looking for quality care solutions Extensive Nationwide Reach Across Home Care Continued Growth in Matches Between and Senior Living Community Providers Care Seekers and Care Pr
Slide 8: Care Assurance: Advancing a Disciplined LTC Model
Care Assurance: Advancing a Disciplined LTC Model 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 future rate i
Slide 9: 1Q26 Consolidated Results
1Q26 Consolidated Results Enact: $140M1 — Results included a pre-tax reserve release of $39M, reflecting Adjusted Operating Income (Loss), favorable cure performance and loss mitigation activities, Excluding Closed Block1 ($M) compared to $60M in the prior quarter and $47M in the prior year 1Q26 4Q2
Slide 10: Enact Segment
Enact Segment Primary IIF1 ($B) Earned Premiums ($M) $272 $273 $268 $243 $245 $245 1Q26 4Q25 1Q25 1Q26 4Q25 1Q25 Primary NIW $12,786 $14,386 $9,818 Portfolio up 2% year-over-year driven by new insurance Earned premiums down versus prior quarter and prior year written (NIW) and continued elevated per
Slide 11: Enact Segment
Enact Segment Benefits & Changes in Sufficiency to PMIERs2 ($M) Policy Reserves ($M) 162% 162% 165% $37 $31 $18 $1,966 $1,919 $1,919 1Q26 4Q25 1Q25 Loss Ratio 15% 7% 12% Primary Delqs (#) 24,670 24,885 22,349 Primary New Delqs (#) 13,559 13,679 12,237 Primary Paid Claims (#) 280 287 179 3/31/26 12/3
Slide 12: Management Actions Strengthen Resiliency in the Closed Block
Management Actions Strengthen Resiliency in the Closed Block Significant progress on LTC benefit reductions & Benefit Reductions & Premium Increases premium increases in the Closed Block1 Risk Lowering tail risk through benefit reductions • Mitigation and addressing premium shortfalls through rate a
Slide 13: Investment Portfolio Holdings
Investment Portfolio Holdings1 Composition of Portfolio Fixed Maturities by Sector Fixed Maturity Securities Sector Fair Value ($B) % Of Total $60.7B Government & Municipal 6.9 16% Residential & Commercial MBS3 2.4 5% Other Asset-Backed Securities 2.2 5% Fixed Maturities Corporate Bond Holdings: - S
Slide 14: Holding Company Cash & Liquid Assets
Holding Company Cash & Liquid Assets1 ($M) 99 (66) (7) (5) (89) 2342 1662 12/31/25 Enact capital Share repurchases Debt Debt Other 3/31/26 returns service retirement $99M in capital returns from Enact received in 1Q26, including $24M from quarterly dividend and $75M in share repurchase proceeds $66M
Slide 15: Capital Allocation & Shareholder Returns
Capital Allocation & Shareholder Returns Capital Allocation Priorities Share Repurchase Program 1 Invest in long-term growth — CareScout Services: Ongoing funding to support the continued Inception of Share Repurchase Program technology-enabled platform build-out, the addition of new 511 495 product
Slide 16: Appendix
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Slide 17: Closed Block Statutory Results
Closed Block Statutory Results LTC Statutory Pre-Tax Income (Loss) ($M) Statutory Pre-Tax Income (Loss)1,2 ($M) 1Q26 4Q25 1Q25 Long-Term Care Insurance (40) (84) 50 (40) (84) 50 Total Life Insurance (57) 60 (34) 340 Income From IFAs3 287 311 Annuities 20 27 (17) 240 253 261 Statutory Pre-Tax Income
Slide 18: Closed Block LTC In-Force Rate Action Progress
Closed Block LTC In-Force Rate Action Progress Approvals and Filings Cumulative Policyholder Responses1 Approved Filings 2024 2025 1Q25 1Q26 58.7% 61.0% 61.3% State Filings Approved 97 83 19 14 26.0% 27.1% 27.2% NFO2 Impacted In-Force Premium ($M) 870 549 85 21 Weighted Average % Rate Increase RBO3
Slide 19: Closed Block LTC Claims Trends by Product – Statutory
Closed Block LTC Claims Trends by Product – Statutory LTC Direct Paid Claims by Product ($M) Paid claims on newer products continue to increase as policyholders approach peak claim age, as claims on the older products 2,887 2,723 past peak claim age decline Flex, MFMP, & 145 Group 2,485 125 Avg Age
Slide 20: Closed Block LTC In-Force Policy Information
Closed Block LTC In-Force1 Policy Information Total As of 3/31/26 Pre PCS PCS I PCS II Choice I2 Choice II PC Flex MFMP3 PC Flex II PC Flex III Individual Group Total Issue Years 1974-1994 1994-1997 1997-2001 2001-2007 2003-2011 2011-2014 2009-2013 2013-2017 2014+ 1999+ Annual Premium ($M)4 23 64 23
Slide 21: Use of Non-GAAP Measures
Use of Non-GAAP Measures The company uses non-GAAP financial measures entitled “adjusted operating income (loss)” and “adjusted operating income (loss), excluding Closed Block.” These non-GAAP financial measures are • evaluated by management and the company’s Board of Directors to assess performance
Slide 22: Use of Non-GAAP Measures
Use of Non-GAAP Measures Adjusted operating income (loss), excluding Closed Block, is derived from adjusted operating income (loss) and excludes adjusted operating income (loss) of the company’s Closed Block segment. While • some of these items may be significant components of net income (loss) dete
Slide 23: Reconciliation of Net Income (Loss) to Adjusted Operating Income (Loss)
Reconciliation of Net Income (Loss) to Adjusted Operating Income (Loss) & Adjusted Operating Income (Loss), Excluding Closed Block 2026 2025 (Unaudited) ($M, except per share amounts) 1Q 4Q 1Q NET INCOME (LOSS) AVAILABLE TO GENWORTH FINANCIAL, INC.’S COMMON STOCKHOLDERS $ 47 $ 2 $ 54 Add: net income
Slide 24: 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 25: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements • downgrades in financial strength and credit ratings and potential adverse impacts to liquidity; counterparty credit risks; defaults by counterparties to reinsurance arrangements or derivative instruments; defaults or other events impacting the v