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©2013 Google
©2013 Google

Investor Day
Genworth MI Canada, Inc.
November 18, 2013
Actionable Strategies for 2014

Genworth MI Canada Inc. (TSX:MIC)

Actionable Strategies for 2014
Welcome
Samantha
Cheung
Vice President,
VP, Investor
Investor Relations
Relations

Genworth MI Canada Inc.
Investor Day
November 18, 2013

Actionable Strategies for 2014

Genworth MI Canada Inc. (TSX:MIC)

1

Actionable Strategies for 2014
©2013 Google

Forward-looking and non-IFRS statements
This presentation includes certain forward-looking statements. These forward-looking statements include,
but are not limited to, statements with respect to the Company’s future operating and financial results,
expectations regarding premiums written, capital expenditure plans, dividend policy and the ability to
execute on its future operating, investing and financial strategies, and other statements that are not
historical facts. These forward-looking statements may be identified by their use of words such as “may,”
“would,” “could,” “will,” “expects,” “anticipates,” “contemplates,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” or words of similar meaning. These statements are based on the Company’s current
assumptions, including assumptions regarding economic, global, political, business, competitive, market
and regulatory matters. These forward-looking statements are inherently subject to significant risks,
uncertainties and changes in circumstances, many of which are beyond the control of the Company. The
Company’s actual results may differ materially from those expressed or implied by such forward-looking
statements, including as a result of changes in the facts underlying the Company’s assumptions, and the
other risks described in the Company’s Annual Information Form dated March 29, 2013, its Short Form
Base Shelf Prospectus dated May 31, 2012, the Prospectus Supplements thereto and all documents
incorporated by reference in such documents. Other than as required by applicable laws, the Company
undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result
of new information, future developments or otherwise.
To supplement its financial statements, the Company uses select non-IFRSs financial measures. Non-IFRSs
measures used by the Company to analyze performance include underwriting ratios such as loss ratio,
expense ratio and combined ratio, as well as other performance measures such as net operating income
and return on net operating income. The Company believes that these non-IFRSs financial measures
provide meaningful supplemental information regarding its performance and may be useful to investors
because they allow for greater transparency with respect to key metrics used by management in its
financial and operational decision making. Non-IFRSs measures do not have standardized meanings and
are unlikely to be comparable to any similar measures presented by other companies. These measures are
defined in the Company’s glossary, which is posted on the Company’s website at
http://investor.genworthmicanada.ca. A reconciliation from non-IFRSs financial measures to the most
readily comparable measures calculated in accordance with IFRSs can be found in the Company’s most
recent financial statements, which are posted on the Company’s website and are also available at
www.sedar.com.

Genworth MI Canada Inc. (TSX:MIC)

Actionable Strategies for 2014
©2013 Google
©2013 Google

Agenda
PANEL 1: Driving Core Growth
PANEL 2: Proactively Mitigating Risk
PANEL 3: Sustaining Profitability

Actionable Strategies for 2014

Genworth MI Canada Inc. (TSX:MIC)

2

Actionable Strategies for 2014
PANEL
MEMBERS

PANEL 1
PANEL 1

INTRO
Moderator

Debbie
McPherson

Susan
Noonan

Robert
Kirby

Craig
Sweeney

Jamie
Woods

Rick
Barnett

Winsor
Macdonell

Lisa
Trudell

Philip
Mayers

PANEL 2
PANEL 2

Stuart
Levings

PANEL 3
PANEL 3

Brian
Hurley
Chairman, Chief
Executive Officer

Genworth MI Canada Inc. (TSX:MIC)

3

Actionable Strategies for 2014
PANEL 1

DRIVING CORE GROWTH

Moderator

Brian
Hurley

Stuart
Levings

Debbie
McPherson

Susan
Noonan

Lisa
Trudell

Chairman, Chief
Executive Officer

Senior Vice
President, Chief
Operating
Officer

Senior Vice
President, Sales
and Marketing

Vice President,
Operations

Vice-President,
Business
Development

Genworth MI Canada Inc. (TSX:MIC)

4

Actionable Strategies for 2014
PANEL 1

Genworth Served Market
Average
income

Average home price

Average
gross debt
servicing

Genworth

Market

% Variance

Genworth

Genworth

Vancouver

$454K

$784K

-42%

$103K

28%

GTA

$417K

$526K

-21%

$101K

28%

Calgary

$387K

$439K

-12%

$107K

25%

Montreal

$303K

$325K

-7%

$83K

26%

Canada

$307K

$389K

-21%

$94K

23%

DRIVING
CORE
GROWTH

Stuart
Levings

Note: Genworth averages based on Q22013 data; market averages for property price from CREA, GDS is gross debt service ratio

Our average home price ~21% lower than market average

Genworth MI Canada Inc. (TSX:MIC)

5

Actionable Strategies for 2014

Senior Vice
President, Chief
Operating
Officer
Average High Ratio Borrower ~ 95% LTV

PANEL 1

Attributes

DRIVING
CORE
GROWTH

Observations
2007

Q3
2013

Credit Score

713

729

 16 point increase in credit score

Total Debt
Service Ratio

34%

33%

 Stable debt ratios despite prices

Refinance

13%

0%

Amortization

32

25

Fixed Interest
Rate

80%

92%

2%

7%

Purchase Plus
(Renovation)

 100% purchase transactions
 25 year amortization the norm
 First-time buyers locking in rates
 “Buy then renovate” more popular

Borrower quality improved since 2007

Genworth MI Canada Inc. (TSX:MIC)

6

Actionable Strategies for 2014

Stuart
Levings
Senior Vice
President, Chief
Operating
Officer
Delivering Value Beyond Mortgage Insurance

DRIVING
CORE
GROWTH

Key Stakeholders
Branches,
Specialists,
Underwriting
Centres

Underwriting

Mortgage
Business Line

Operations

Risk and
Treasury

Sales

C-Suite

Risk

Sr. Leadership

Genworth Team Support

Acknowledged strategic partner

Genworth MI Canada Inc. (TSX:MIC)

7

PANEL 1

Actionable Strategies for 2014

Debbie
McPherson
Senior Vice
President, Sales
and Marketing
©2013 Google

PANEL 1
DRIVING
CORE
GROWTH

TAKEAWAYS
 The first-time buyer market will continue to
drive demand for mortgage insurance
 We strategically add value to our lenders
 We have the momentum to drive core
growth

Genworth MI Canada Inc. (TSX:MIC)

8

Actionable Strategies for 2014
PANEL 1

OPEN Q&A

Moderator

Brian
Hurley

Stuart
Levings

Debbie
McPherson

Susan
Noonan

Lisa
Trudell

Chairman, Chief
Executive Officer

Senior Vice
President, Chief
Operating
Officer

Senior Vice
President, Sales
and Marketing

Vice President,
Operations

Vice-President,
Business
Development

Genworth MI Canada Inc. (TSX:MIC)

9

Actionable Strategies for 2014
PANEL 2

PROACTIVELY MITIGATING RISK

Moderator

Brian
Hurley

Robert
Kirby

Craig
Sweeney

Jamie
Woods

Chairman, Chief
Executive Officer

Vice President,
Loss Mitigation
and
Investigations

Senior Vice
President, Chief
Risk Officer

Regional Risk
Manager

Genworth MI Canada Inc. (TSX:MIC)

10

Actionable Strategies for 2014
Risk Management Framework
Risk Framework

Identify and assess key
performance risks

Manage and control
quality of new business

Monitor and communicate
on portfolio performance

Key Focus Areas

PANEL 2
PROACTIVELY
MITIGATING
RISK

 Macro-economic environment
 Housing market trends
 Regional risk factors

 Underwriting guidelines/policy
 Risk limits and triggers
 Robust quality assurance

 Portfolio analytics
 Identifying emerging loss trends
 Dynamic underwriting policies

Genworth MI Canada Inc. (TSX:MIC)

11

Actionable Strategies for 2014

Craig
Sweeney
Senior Vice
President, Chief
Risk Officer
PANEL 2

Housing Risk Scorecard
Acceptable

Watch Areas

Monitoring

Key Risks

Toronto Condos
Toronto Single
Family
Vancouver

Montreal Condos

Risk
Level

PROACTIVELY
MITIGATING
RISK

Assessment / Actions

Oversupply

Increased scrutiny on new projects
Rental Market remains tight

Affordability

Increased attention on income /
qualifying
Strong borrower quality … avg. score
736

Overvaluation

Market has normalized
Opportunity to expand risk appetite

Craig
Sweeney

New projects

Increased scrutiny on builder quality
Strong borrower quality … avg. score
746

Senior Vice
President, Chief
Risk Officer

Genworth MI Canada Inc. (TSX:MIC)

12

Actionable Strategies for 2014
Delinquency Cycle – Integration is Key

PROACTIVELY
MITIGATING
RISK

Assessment
Objecti
1 – 3 Months

Foreclosure & Sale
4 – 18 Months

ves

Prevent

 Awareness/education
 Homeowner
assistance program

Recovery
18 + Months

Recover

Engage

 Third parties
 Borrowers

 Shortfall sales
 Asset management
Best Practice Sharing

Risk

Underwriting

PANEL 2

Audit

Lenders

Genworth MI Canada Inc. (TSX:MIC)

Sales

13

Finance Loss Mitigation

Actionable Strategies for 2014

Robert
Kirby
Vice President,
Loss Mitigation
and
Investigations
©2013 Google

PANEL 2
PROACTIVELY
MITIGATING
RISK

TAKEAWAYS
 Our comprehensive risk framework helps
us stay ahead of emerging risks
 Our insurance portfolio quality continues
to be strong
 Our loss mitigation strategy is a key
differentiator

Genworth MI Canada Inc. (TSX:MIC)

14

Actionable Strategies for 2014
PANEL 2

OPEN Q&A

Moderator

Brian
Hurley

Robert
Kirby

Craig
Sweeney

Jamie
Woods

Chairman, Chief
Executive Officer

Vice President,
Loss Mitigation
and
Investigations

Senior Vice
President, Chief
Risk Officer

Regional Risk
Manager

Genworth MI Canada Inc. (TSX:MIC)

15

Actionable Strategies for 2014
PANEL 3

SUSTAINING PROFITABILITY

Moderator

Brian
Hurley

Rick
Barnett

Winsor
Macdonell

Philip
Mayers

Chairman, Chief
Executive Officer

Vice President,
Investments

Senior Vice
President,
General Counsel
and Secretary

Senior Vice
President, Chief
Financial Officer

Genworth MI Canada Inc. (TSX:MIC)

16

Actionable Strategies for 2014
Genworth Served Market Trends
720

08

726

09

727

10

727

11

730

12

733

Q3
2013

Average Credit Score
 Improving quality
 “A” quality borrower only

PANEL 3
SUSTAINING
PROFITABILITY

($000’s)

Average Home Price
256

266

284

296

301

302

08

09

10

11

12

Q3
2013

(%)
23

08

24

25

24

22

09

10

11

12

23

Q3
2013

 Modest price increase for balance 2013
for first-time buyer segment

Average Gross Debt Ratios
 Relatively stable
Source: Based on company data as at Sep. 30, 2013. Market averages
for property price from CREA, GDS is gross debt service ratio

Smaller... but higher quality borrower profile

Genworth MI Canada Inc. (TSX:MIC)

17

Actionable Strategies for 2014

Winsor
Macdonell
Senior Vice
President,
General Counsel
and Secretary
PANEL 3

Multiple Top Line Growth Levers

SUSTAINING
PROFITABILITY

Gross Premiums Written ($MM)
Total

374

545

560

16

Portfolio
Insurance

564

19

77
54

4
Flow

549

525

370

2009

382
9 Months

483
329

2010

2011

2012

Q3 2013

Growth Levers




Larger high loan-to-value market
Higher market penetration ... capitalize on current momentum
Potential for pricing increase to reflect higher capital levels

Genworth MI Canada Inc. (TSX:MIC)

18

Actionable Strategies for 2014

Philip
Mayers
Senior Vice
President, Chief
Financial Officer
PANEL 3

Underwriting Profits
($MM)

Premiums Earned
Expenses

Losses on Claims

610

621

612

589

91

103

101

105

256

206

225

194

431
9 Months

SUSTAINING
PROFITABILITY

80
111

Underwriting
Profit

312

287

291

240

2009Âą

Loss Ratio

263

2010

2011

2012

Q3 2013

37%

33%

26%

42%

33%

Notes: Amounts may not total due to rounding.
1. Including the impact of change to the premium recognition curve in the first quarter of 2009, financial measures for the year ended
December 31, 2009 would have been: earned premium $710, underwriting profit $357 and loss ratio 36%.




Loss ratio improvement driving higher underwriting profits
$1.7 billion unearned premiums represent future revenues ... earnings visibility

Genworth MI Canada Inc. (TSX:MIC)

19

Actionable Strategies for 2014

Philip
Mayers
Senior VicePresident, Chief
Financial Officer
PANEL 3

Earnings Profile
($MM)

Operating Income
Investment
Income (After Tax)

Underwriting
Profit (After Tax)

307

120

343

318

118

339

110

264
9 Months

SUSTAINING
PROFITABILITY

125
89

188

225

208

214

2009

2010

2011

2012

42%

33%

37%

33%

26%

Operating EPS

$2.671

$3.01

$3.08

$3.432

$2.70

Operating ROE

13%1

14%

13%

13%2

12%

Loss Ratio

1.
2.

174
Q3 2013

Excludes the impact of change to the premium recognition curve in the first quarter of 2009,
Excludes the impact of the Government Guarantee Fund exit fee reversal of $166 million, related to 2011 and prior years .

Strong and sustainable profitability

Genworth MI Canada Inc. (TSX:MIC)

20

Actionable Strategies for 2014

Philip
Mayers
Senior VicePresident, Chief
Financial Officer
Fixed Income - $4.9 Billion (As at Sept 30, 2013)

PANEL 3

MIC vs. Bond Universe & Peers

SUSTAINING
PROFITABILITY

MIC Corporate Distribution
2%
1%

EMD

3%
30%

12%

37%

Corporate

40%

Provincials

20%

Federal

37%

39%

MIC

DEX

Peers

3.8%

(1.6)%

0%

Total Return
Q3 13 YTD

31%

48%
34%
18%

29%

11%
Financials

Energy

Infrastructure

Communication

Securitization

Source for Peers: Median portfolio mix from Q2 2013 survey
of large property & casualty insurers conducted by PCIM
Global Manager Research





8%

Industrial

Real Estate

Quality focus ... diversified sector allocations
Short duration major contribution to returns out performance
Diversified corporate asset mix

Genworth MI Canada Inc. (TSX:MIC)

21

Actionable Strategies for 2014

Rick
Barnett
Vice President,
Investments
Equities Portfolio - $219 Million (as at Sept 30, 2013)

PANEL 3

Portfolio Size

SUSTAINING
PROFITABILITY

Total Returns

(9 months ended Sept 30, 2013)
(Including dividends)

($MM)

328

Q4 2012

313

Q1 2013

251

Q2 2013

8.70%

219

5.31%

MIC

Q3 2013

TSX

 Focus on high quality dividend paying stocks... beta of 0.7 vs. TSX
 Monetized gains as equity markets have rallied

Active investment portfolio management

Genworth MI Canada Inc. (TSX:MIC)

22

Actionable Strategies for 2014

Rick
Barnett
Vice President,
Investments
PANEL 3

Fixed Income Portfolio Performance
6.5%

SUSTAINING
PROFITABILITY

6.0%
5.5%

Return (% p.a.)

5.0%

Genworth
4.5%

Median
4.0%
3.5%
3.0%
2.5%
1.6%

Rick
Barnett
2.1%

2.6%

3.1%

3.6%

4.1%

Standard Deviation
Source: Q2 2013 Survey of large property & casualty insurers conducted by PCIM Global Manager Research

Favorable risk adjusted return over last 4 years

Genworth MI Canada Inc. (TSX:MIC)

23

Actionable Strategies for 2014

Vice President,
Investments
PANEL 3

Regulatory Capital
Total MCT1

MIC Base

39%

149%

2009

199%

43%

156%

2010

213%

210%

51%

40%

162%

2011

216%

218%

216%

MIC
Guarantee
Fund

188%

218%

170%

2012

Q2 2013

Q3 2013

1. Adjusted for Guarantee Fund which was deducted from regulatory capital available prior to its elimination on Jan 1. 2013

Active dialogue with OSFI on capital levels

Genworth MI Canada Inc. (TSX:MIC)

SUSTAINING
PROFITABILITY

24

Actionable Strategies for 2014

Philip
Mayers
Senior Vice
President, Chief
Financial Officer
PANEL 3

MIC Capital Management Objectives

Maintain Strong
Claim Paying
Ability
 “AA” rating for
insurance co.
 Stress testing
 New capital test
for 2015

Ongoing Access
to Capital Markets

Capital
Strength

Capital
Flexibility

SUSTAINING
PROFITABILITY

 Staggered debt
maturities
 Leverage <20%

Capital
Efficiency
Philip
Mayers
Optimize Shareholder Returns
 Return of capital (buybacks, special dividends)
 Ordinary dividends
 Leverage

Genworth MI Canada Inc. (TSX:MIC)

25

Actionable Strategies for 2014

Senior Vice
President, Chief
Financial Officer
Ideal Mortgage Insurance Market
Principle

Benefit to Canadians

Rigorous claims process

Clear industry-wide standards and shared accountability

Active regulator

Well capitalized, prudent risk management, responsible
loan and insurance products, sound guidelines and
oversight

Strong product mix

Consumer-friendly products, portable, serving all regions

Diverse lender base

Fair access to mortgage insurance and funding via
government securitization programs enables competition
Government guarantee gives policy lever … mandatory
requirement for mortgage insurance

Commercial pricing

Commercial return on capital … easy for consumers to
understand

De-risk taxpayers

Private capital at risk ahead of taxpayer funds

Level playing field

Drives innovation, customer service and consumer focus

SUSTAINING
PROFITABILITY

Insurers act as second set of eyes

Government maintains
policy levers

Current Environment

Disciplined
underwriting

PANEL 3

Genworth MI Canada Inc. (TSX:MIC)

26

Actionable Strategies for 2014

Winsor
Macdonell
Senior Vice
President,
General Counsel
and Secretary
©2013 Google

PANEL 3

TAKEAWAYS

SUSTAINING
PROFITABILITY

 Mortgage insurance is an essential element of
Canada’s housing finance system
 Several levers for core growth
 Active investment portfolio management
 Balancing capital strength, flexibility and
efficiency
 Well positioned to deliver sustainable
profitability

Genworth MI Canada Inc. (TSX:MIC)

27

Actionable Strategies for 2014
PANEL 3

OPEN Q&A

Moderator

Brian
Hurley

Rick
Barnett

Winsor
Macdonell

Philip
Mayers

Chairman, Chief
Executive Officer

Vice President,
Investments

Senior Vice
President,
General Counsel
and Secretary

Senior Vice
President, Chief
Financial Officer

Genworth MI Canada Inc. (TSX:MIC)

28

Actionable Strategies for 2014
©2013 Google
©2013 Google

Wrap-up

Actionable Strategies for 2014

Genworth MI Canada Inc. (TSX:MIC)

29

Actionable Strategies for 2014
©2013 Google

BIOGRAPHIES

Brian
Hurley
Chairman and
CEO

Brian led the establishment of
Genworth into the Canadian
marketplace in 1994 and later
led it through its initial public
offering in 2009. He has more
than 20 years of senior
management experience in the
mortgage insurance industry
worldwide. From 2004 – 2009 he
led Genworth’s activities and
expansion in key international
markets. Prior roles includes
Senior Vice President,
International of General Electric’s
U.S. mortgage insurance
business and Senior Vice
President of Sales and
Operations.

Genworth MI Canada Inc. (TSX:MIC)

Stuart
Levings
Senior Vice
President,
Chief
Operating
Officer

30

Stuart Levings is a qualified
Chartered Accountant with over
15 years of professional
experience in a variety of
industry sectors. Since joining the
Company in July 2000 as the
Financial Controller, Stuart has
held positions in finance and
product development, including
five years as Chief Financial
Officer prior to becoming the
Chief Risk Officer in January
2008. Before that, Stuart spent
seven years with Deloitte &
Touche. Stuart holds a Bachelor
of Accounting Science degree
from the University of South
Africa and is a member of both
the South African and Canadian
Institutes of Chartered
Accountants.

Actionable Strategies for 2014
©2013 Google

BIOGRAPHIES

Debbie
McPherson
Senior Vice
President,
Sales and
Marketing

Debbie is responsible for
developing and executing sales
and marketing strategies,
including key initiatives such as
customer segmentation and sales
program development. She
brings more than 20 years of
experience and proven success in
sales and quality
management. Debbie holds an
AMP designation and plays an
active role in many mortgage
industry organizations including
the Canadian Real Estate
Association, the Canadian
Association of Accredited
Mortgage Professionals and the
Canadian Homebuilders
Association.

Genworth MI Canada Inc. (TSX:MIC)

Susan
Noonan
Vice
President,
Operations

31

Susan is responsible for
developing and executing the
customer experience strategies
within the Canadian underwriting
and call centres. Key initiatives
include lender and regional
specific underwriting,
productivity, process efficiencies
and bringing innovation to
mortgage underwriting. Susan
has more than 20 years of
industry experience. Since
joining the company in 1995, she
has held positions in Sales, Risk
and Operations. Susan is a
member of the Canadian
Association of Accredited
Mortgage Professionals and an
active volunteer for the United
Way and Habitat for Humanity.

Actionable Strategies for 2014
©2013 Google

BIOGRAPHIES

Lisa
Trudell
VicePresident,
Business
Development

Lisa is responsible for managing
key mortgage lender
relationships at a national level to
develop mutually beneficial
strategies and resolve customer
issues with the goal of increasing
customer satisfaction, market
share and revenue. Lisa has more
than 25 years of professional
experience in the financial
services industry and a proven
track record in sales & sales
management, strategic planning
and product development. She
holds an MBA from the Ivey
School of Business and is a
member of the Canadian
Association of Accredited
Mortgage Professionals. She
joined Genworth Canada in
2004.

Genworth MI Canada Inc. (TSX:MIC)

Robert
Kirby
Vice President,
Loss Mitigation
and
Investigations

32

Robert is responsible for Claims
management, Default
Management, Quality Assurance,
Appraisal Management and our
Special Investigations Unit. Since
joining the company in 1998,
Rob has held the position of
Manager, Loss Mitigation;
Quality Leader; and, most
recently, Leader, Loss Mitigation
and Investigations. Rob’s
previous experience includes 8
years with the Bank of Nova
Scotia in Ottawa, holding various
management positions within a
specialized collection unit.

Actionable Strategies for 2014
©2013 Google

BIOGRAPHIES

Craig
Sweeney

Craig has more than 17 years of
professional experience in the
mortgage and banking industry.
Since joining the Company in
1998, he has held senior
positions in Operations and
Business Development, including
Director of Risk Operations and
Director of Product
Development.

Jamie
Woods

Senior Vice
President,
Chief Risk
Officer

Genworth MI Canada Inc. (TSX:MIC)

Regional Risk
Manager

33

In his role as a Regional Risk
Manager, Jamie provides
constant analysis of the impacts
of the economy on different
segments of the housing market
and how it affects Genworth
Canada’s business. Prior to
joining Genworth Canada in
2007, Jamie spent 5 years with
the National Bank of Canada and
4 years with HSBC Bank Canada.
He holds a bachelor's degree in
business administration with a
minor in economics and is a
member of the Canadian
Association of Accredited
Mortgage Professionals. He is a
member of the Quebec Board of
Directors of Habitat for
Humanity.

Actionable Strategies for 2014
©2013 Google

BIOGRAPHIES

Rick
Barnett
Vice
President,
Investments

Rick joined Genworth Canada in
2008 after a career of over 20
years of capital markets trading
and investment experience. Prior
to joining the company, Rick was
a Managing Director and Partner
with Cornerstone Capital
Partners, a Canadian Hedge
Fund specializing in global fixed
income and currencies, relative
value investing. Rick spent the
majority of his career at RBC
Capital Markets where he was a
Managing Director and held
senior positions within the firm.
Rick is a graduate of University of
Toronto with a degree in
economics.

Genworth MI Canada Inc. (TSX:MIC)

Winsor
Macdonell
Senior Vice
President,
General
Counsel and
Secretary

34

Winsor is responsible for all of
the Company’s legal and
compliance matters, as well as
government relations. Winsor
joined the Company in 1999.
Prior to joining the Company, he
spent several years in the life and
property and casualty industry.
Winsor received an honours
Bachelor of Commerce degree
from Queen’s University in 1988
and his LL.B. from Dalhousie
University in 1992.

Actionable Strategies for 2014
©2013 Google

BIOGRAPHIES

Philip
Mayers
Senior Vice
President,
Chief
Financial
Officer

Philip became Chief Financial
Officer of the Company in 2009.
He has over 20 years of finance
and general management
experience in financial services
businesses. Since joining the
Company in 1995, Phillip has
held several senior positions,
including Vice President, Finance,
Vice President, Operations, and
Senior Vice President, Business
Development. Prior to joining the
Company, he held finance
positions with MICC, Esso
Petroleum Canada and Deloitte
& Touche. He holds CPA, CA,
CMA and AMP professional
designations and has a Master of
Accounting degree from the
University of Waterloo.

Genworth MI Canada Inc. (TSX:MIC)

Samantha
Cheung
Vice
President,
Investor
Relations

35

Samantha joined the Company in
2009 at the time of the IPO to
establish and lead the Investor
Relations platform. Prior to this,
she was with CIBC World Markets
and Merrill Lynch Canada, in a
variety of capital markets roles,
including debt origination,
derivatives, investment banking
and equity research. She is a
graduate of engineering from
Queen’s University and obtained
an MBA from the Rotman School
of Management in Toronto.
Samantha also holds an active
board position with Women in
Capital Markets.

Actionable Strategies for 2014
©2013 Google

Investor Day
2013
Actionable Strategies for 2014
CONTACT:
Samantha Cheung, Vice President, Investor Relations
905 287 5482 Samantha.Cheung@genworth.com
Genworth MI Canada Inc. (TSX:MIC)

Actionable Strategies for 2014

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Genworth MI Canada Investor Day Highlights

  • 1. ©2013 Google ©2013 Google Investor Day Genworth MI Canada, Inc. November 18, 2013 Actionable Strategies for 2014 Genworth MI Canada Inc. (TSX:MIC) Actionable Strategies for 2014
  • 2. Welcome Samantha Cheung Vice President, VP, Investor Investor Relations Relations Genworth MI Canada Inc. Investor Day November 18, 2013 Actionable Strategies for 2014 Genworth MI Canada Inc. (TSX:MIC) 1 Actionable Strategies for 2014
  • 3. ©2013 Google Forward-looking and non-IFRS statements This presentation includes certain forward-looking statements. These forward-looking statements include, but are not limited to, statements with respect to the Company’s future operating and financial results, expectations regarding premiums written, capital expenditure plans, dividend policy and the ability to execute on its future operating, investing and financial strategies, and other statements that are not historical facts. These forward-looking statements may be identified by their use of words such as “may,” “would,” “could,” “will,” “expects,” “anticipates,” “contemplates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” or words of similar meaning. These statements are based on the Company’s current assumptions, including assumptions regarding economic, global, political, business, competitive, market and regulatory matters. These forward-looking statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of the Company. The Company’s actual results may differ materially from those expressed or implied by such forward-looking statements, including as a result of changes in the facts underlying the Company’s assumptions, and the other risks described in the Company’s Annual Information Form dated March 29, 2013, its Short Form Base Shelf Prospectus dated May 31, 2012, the Prospectus Supplements thereto and all documents incorporated by reference in such documents. Other than as required by applicable laws, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. To supplement its financial statements, the Company uses select non-IFRSs financial measures. Non-IFRSs measures used by the Company to analyze performance include underwriting ratios such as loss ratio, expense ratio and combined ratio, as well as other performance measures such as net operating income and return on net operating income. The Company believes that these non-IFRSs financial measures provide meaningful supplemental information regarding its performance and may be useful to investors because they allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. Non-IFRSs measures do not have standardized meanings and are unlikely to be comparable to any similar measures presented by other companies. These measures are defined in the Company’s glossary, which is posted on the Company’s website at http://investor.genworthmicanada.ca. A reconciliation from non-IFRSs financial measures to the most readily comparable measures calculated in accordance with IFRSs can be found in the Company’s most recent financial statements, which are posted on the Company’s website and are also available at www.sedar.com. Genworth MI Canada Inc. (TSX:MIC) Actionable Strategies for 2014
  • 4. ©2013 Google ©2013 Google Agenda PANEL 1: Driving Core Growth PANEL 2: Proactively Mitigating Risk PANEL 3: Sustaining Profitability Actionable Strategies for 2014 Genworth MI Canada Inc. (TSX:MIC) 2 Actionable Strategies for 2014
  • 5. PANEL MEMBERS PANEL 1 PANEL 1 INTRO Moderator Debbie McPherson Susan Noonan Robert Kirby Craig Sweeney Jamie Woods Rick Barnett Winsor Macdonell Lisa Trudell Philip Mayers PANEL 2 PANEL 2 Stuart Levings PANEL 3 PANEL 3 Brian Hurley Chairman, Chief Executive Officer Genworth MI Canada Inc. (TSX:MIC) 3 Actionable Strategies for 2014
  • 6. PANEL 1 DRIVING CORE GROWTH Moderator Brian Hurley Stuart Levings Debbie McPherson Susan Noonan Lisa Trudell Chairman, Chief Executive Officer Senior Vice President, Chief Operating Officer Senior Vice President, Sales and Marketing Vice President, Operations Vice-President, Business Development Genworth MI Canada Inc. (TSX:MIC) 4 Actionable Strategies for 2014
  • 7. PANEL 1 Genworth Served Market Average income Average home price Average gross debt servicing Genworth Market % Variance Genworth Genworth Vancouver $454K $784K -42% $103K 28% GTA $417K $526K -21% $101K 28% Calgary $387K $439K -12% $107K 25% Montreal $303K $325K -7% $83K 26% Canada $307K $389K -21% $94K 23% DRIVING CORE GROWTH Stuart Levings Note: Genworth averages based on Q22013 data; market averages for property price from CREA, GDS is gross debt service ratio Our average home price ~21% lower than market average Genworth MI Canada Inc. (TSX:MIC) 5 Actionable Strategies for 2014 Senior Vice President, Chief Operating Officer
  • 8. Average High Ratio Borrower ~ 95% LTV PANEL 1 Attributes DRIVING CORE GROWTH Observations 2007 Q3 2013 Credit Score 713 729  16 point increase in credit score Total Debt Service Ratio 34% 33%  Stable debt ratios despite prices Refinance 13% 0% Amortization 32 25 Fixed Interest Rate 80% 92% 2% 7% Purchase Plus (Renovation)  100% purchase transactions  25 year amortization the norm  First-time buyers locking in rates  “Buy then renovate” more popular Borrower quality improved since 2007 Genworth MI Canada Inc. (TSX:MIC) 6 Actionable Strategies for 2014 Stuart Levings Senior Vice President, Chief Operating Officer
  • 9. Delivering Value Beyond Mortgage Insurance DRIVING CORE GROWTH Key Stakeholders Branches, Specialists, Underwriting Centres Underwriting Mortgage Business Line Operations Risk and Treasury Sales C-Suite Risk Sr. Leadership Genworth Team Support Acknowledged strategic partner Genworth MI Canada Inc. (TSX:MIC) 7 PANEL 1 Actionable Strategies for 2014 Debbie McPherson Senior Vice President, Sales and Marketing
  • 10. ©2013 Google PANEL 1 DRIVING CORE GROWTH TAKEAWAYS  The first-time buyer market will continue to drive demand for mortgage insurance  We strategically add value to our lenders  We have the momentum to drive core growth Genworth MI Canada Inc. (TSX:MIC) 8 Actionable Strategies for 2014
  • 11. PANEL 1 OPEN Q&A Moderator Brian Hurley Stuart Levings Debbie McPherson Susan Noonan Lisa Trudell Chairman, Chief Executive Officer Senior Vice President, Chief Operating Officer Senior Vice President, Sales and Marketing Vice President, Operations Vice-President, Business Development Genworth MI Canada Inc. (TSX:MIC) 9 Actionable Strategies for 2014
  • 12. PANEL 2 PROACTIVELY MITIGATING RISK Moderator Brian Hurley Robert Kirby Craig Sweeney Jamie Woods Chairman, Chief Executive Officer Vice President, Loss Mitigation and Investigations Senior Vice President, Chief Risk Officer Regional Risk Manager Genworth MI Canada Inc. (TSX:MIC) 10 Actionable Strategies for 2014
  • 13. Risk Management Framework Risk Framework Identify and assess key performance risks Manage and control quality of new business Monitor and communicate on portfolio performance Key Focus Areas PANEL 2 PROACTIVELY MITIGATING RISK  Macro-economic environment  Housing market trends  Regional risk factors  Underwriting guidelines/policy  Risk limits and triggers  Robust quality assurance  Portfolio analytics  Identifying emerging loss trends  Dynamic underwriting policies Genworth MI Canada Inc. (TSX:MIC) 11 Actionable Strategies for 2014 Craig Sweeney Senior Vice President, Chief Risk Officer
  • 14. PANEL 2 Housing Risk Scorecard Acceptable Watch Areas Monitoring Key Risks Toronto Condos Toronto Single Family Vancouver Montreal Condos Risk Level PROACTIVELY MITIGATING RISK Assessment / Actions Oversupply Increased scrutiny on new projects Rental Market remains tight Affordability Increased attention on income / qualifying Strong borrower quality … avg. score 736 Overvaluation Market has normalized Opportunity to expand risk appetite Craig Sweeney New projects Increased scrutiny on builder quality Strong borrower quality … avg. score 746 Senior Vice President, Chief Risk Officer Genworth MI Canada Inc. (TSX:MIC) 12 Actionable Strategies for 2014
  • 15. Delinquency Cycle – Integration is Key PROACTIVELY MITIGATING RISK Assessment Objecti 1 – 3 Months Foreclosure & Sale 4 – 18 Months ves Prevent  Awareness/education  Homeowner assistance program Recovery 18 + Months Recover Engage  Third parties  Borrowers  Shortfall sales  Asset management Best Practice Sharing Risk Underwriting PANEL 2 Audit Lenders Genworth MI Canada Inc. (TSX:MIC) Sales 13 Finance Loss Mitigation Actionable Strategies for 2014 Robert Kirby Vice President, Loss Mitigation and Investigations
  • 16. ©2013 Google PANEL 2 PROACTIVELY MITIGATING RISK TAKEAWAYS  Our comprehensive risk framework helps us stay ahead of emerging risks  Our insurance portfolio quality continues to be strong  Our loss mitigation strategy is a key differentiator Genworth MI Canada Inc. (TSX:MIC) 14 Actionable Strategies for 2014
  • 17. PANEL 2 OPEN Q&A Moderator Brian Hurley Robert Kirby Craig Sweeney Jamie Woods Chairman, Chief Executive Officer Vice President, Loss Mitigation and Investigations Senior Vice President, Chief Risk Officer Regional Risk Manager Genworth MI Canada Inc. (TSX:MIC) 15 Actionable Strategies for 2014
  • 18. PANEL 3 SUSTAINING PROFITABILITY Moderator Brian Hurley Rick Barnett Winsor Macdonell Philip Mayers Chairman, Chief Executive Officer Vice President, Investments Senior Vice President, General Counsel and Secretary Senior Vice President, Chief Financial Officer Genworth MI Canada Inc. (TSX:MIC) 16 Actionable Strategies for 2014
  • 19. Genworth Served Market Trends 720 08 726 09 727 10 727 11 730 12 733 Q3 2013 Average Credit Score  Improving quality  “A” quality borrower only PANEL 3 SUSTAINING PROFITABILITY ($000’s) Average Home Price 256 266 284 296 301 302 08 09 10 11 12 Q3 2013 (%) 23 08 24 25 24 22 09 10 11 12 23 Q3 2013  Modest price increase for balance 2013 for first-time buyer segment Average Gross Debt Ratios  Relatively stable Source: Based on company data as at Sep. 30, 2013. Market averages for property price from CREA, GDS is gross debt service ratio Smaller... but higher quality borrower profile Genworth MI Canada Inc. (TSX:MIC) 17 Actionable Strategies for 2014 Winsor Macdonell Senior Vice President, General Counsel and Secretary
  • 20. PANEL 3 Multiple Top Line Growth Levers SUSTAINING PROFITABILITY Gross Premiums Written ($MM) Total 374 545 560 16 Portfolio Insurance 564 19 77 54 4 Flow 549 525 370 2009 382 9 Months 483 329 2010 2011 2012 Q3 2013 Growth Levers    Larger high loan-to-value market Higher market penetration ... capitalize on current momentum Potential for pricing increase to reflect higher capital levels Genworth MI Canada Inc. (TSX:MIC) 18 Actionable Strategies for 2014 Philip Mayers Senior Vice President, Chief Financial Officer
  • 21. PANEL 3 Underwriting Profits ($MM) Premiums Earned Expenses Losses on Claims 610 621 612 589 91 103 101 105 256 206 225 194 431 9 Months SUSTAINING PROFITABILITY 80 111 Underwriting Profit 312 287 291 240 2009Âą Loss Ratio 263 2010 2011 2012 Q3 2013 37% 33% 26% 42% 33% Notes: Amounts may not total due to rounding. 1. Including the impact of change to the premium recognition curve in the first quarter of 2009, financial measures for the year ended December 31, 2009 would have been: earned premium $710, underwriting profit $357 and loss ratio 36%.   Loss ratio improvement driving higher underwriting profits $1.7 billion unearned premiums represent future revenues ... earnings visibility Genworth MI Canada Inc. (TSX:MIC) 19 Actionable Strategies for 2014 Philip Mayers Senior VicePresident, Chief Financial Officer
  • 22. PANEL 3 Earnings Profile ($MM) Operating Income Investment Income (After Tax) Underwriting Profit (After Tax) 307 120 343 318 118 339 110 264 9 Months SUSTAINING PROFITABILITY 125 89 188 225 208 214 2009 2010 2011 2012 42% 33% 37% 33% 26% Operating EPS $2.671 $3.01 $3.08 $3.432 $2.70 Operating ROE 13%1 14% 13% 13%2 12% Loss Ratio 1. 2. 174 Q3 2013 Excludes the impact of change to the premium recognition curve in the first quarter of 2009, Excludes the impact of the Government Guarantee Fund exit fee reversal of $166 million, related to 2011 and prior years . Strong and sustainable profitability Genworth MI Canada Inc. (TSX:MIC) 20 Actionable Strategies for 2014 Philip Mayers Senior VicePresident, Chief Financial Officer
  • 23. Fixed Income - $4.9 Billion (As at Sept 30, 2013) PANEL 3 MIC vs. Bond Universe & Peers SUSTAINING PROFITABILITY MIC Corporate Distribution 2% 1% EMD 3% 30% 12% 37% Corporate 40% Provincials 20% Federal 37% 39% MIC DEX Peers 3.8% (1.6)% 0% Total Return Q3 13 YTD 31% 48% 34% 18% 29% 11% Financials Energy Infrastructure Communication Securitization Source for Peers: Median portfolio mix from Q2 2013 survey of large property & casualty insurers conducted by PCIM Global Manager Research    8% Industrial Real Estate Quality focus ... diversified sector allocations Short duration major contribution to returns out performance Diversified corporate asset mix Genworth MI Canada Inc. (TSX:MIC) 21 Actionable Strategies for 2014 Rick Barnett Vice President, Investments
  • 24. Equities Portfolio - $219 Million (as at Sept 30, 2013) PANEL 3 Portfolio Size SUSTAINING PROFITABILITY Total Returns (9 months ended Sept 30, 2013) (Including dividends) ($MM) 328 Q4 2012 313 Q1 2013 251 Q2 2013 8.70% 219 5.31% MIC Q3 2013 TSX  Focus on high quality dividend paying stocks... beta of 0.7 vs. TSX  Monetized gains as equity markets have rallied Active investment portfolio management Genworth MI Canada Inc. (TSX:MIC) 22 Actionable Strategies for 2014 Rick Barnett Vice President, Investments
  • 25. PANEL 3 Fixed Income Portfolio Performance 6.5% SUSTAINING PROFITABILITY 6.0% 5.5% Return (% p.a.) 5.0% Genworth 4.5% Median 4.0% 3.5% 3.0% 2.5% 1.6% Rick Barnett 2.1% 2.6% 3.1% 3.6% 4.1% Standard Deviation Source: Q2 2013 Survey of large property & casualty insurers conducted by PCIM Global Manager Research Favorable risk adjusted return over last 4 years Genworth MI Canada Inc. (TSX:MIC) 23 Actionable Strategies for 2014 Vice President, Investments
  • 26. PANEL 3 Regulatory Capital Total MCT1 MIC Base 39% 149% 2009 199% 43% 156% 2010 213% 210% 51% 40% 162% 2011 216% 218% 216% MIC Guarantee Fund 188% 218% 170% 2012 Q2 2013 Q3 2013 1. Adjusted for Guarantee Fund which was deducted from regulatory capital available prior to its elimination on Jan 1. 2013 Active dialogue with OSFI on capital levels Genworth MI Canada Inc. (TSX:MIC) SUSTAINING PROFITABILITY 24 Actionable Strategies for 2014 Philip Mayers Senior Vice President, Chief Financial Officer
  • 27. PANEL 3 MIC Capital Management Objectives Maintain Strong Claim Paying Ability  “AA” rating for insurance co.  Stress testing  New capital test for 2015 Ongoing Access to Capital Markets Capital Strength Capital Flexibility SUSTAINING PROFITABILITY  Staggered debt maturities  Leverage <20% Capital Efficiency Philip Mayers Optimize Shareholder Returns  Return of capital (buybacks, special dividends)  Ordinary dividends  Leverage Genworth MI Canada Inc. (TSX:MIC) 25 Actionable Strategies for 2014 Senior Vice President, Chief Financial Officer
  • 28. Ideal Mortgage Insurance Market Principle Benefit to Canadians Rigorous claims process Clear industry-wide standards and shared accountability Active regulator Well capitalized, prudent risk management, responsible loan and insurance products, sound guidelines and oversight Strong product mix Consumer-friendly products, portable, serving all regions Diverse lender base Fair access to mortgage insurance and funding via government securitization programs enables competition Government guarantee gives policy lever … mandatory requirement for mortgage insurance Commercial pricing Commercial return on capital … easy for consumers to understand De-risk taxpayers Private capital at risk ahead of taxpayer funds Level playing field Drives innovation, customer service and consumer focus SUSTAINING PROFITABILITY Insurers act as second set of eyes Government maintains policy levers Current Environment Disciplined underwriting PANEL 3 Genworth MI Canada Inc. (TSX:MIC) 26 Actionable Strategies for 2014 Winsor Macdonell Senior Vice President, General Counsel and Secretary
  • 29. ©2013 Google PANEL 3 TAKEAWAYS SUSTAINING PROFITABILITY  Mortgage insurance is an essential element of Canada’s housing finance system  Several levers for core growth  Active investment portfolio management  Balancing capital strength, flexibility and efficiency  Well positioned to deliver sustainable profitability Genworth MI Canada Inc. (TSX:MIC) 27 Actionable Strategies for 2014
  • 30. PANEL 3 OPEN Q&A Moderator Brian Hurley Rick Barnett Winsor Macdonell Philip Mayers Chairman, Chief Executive Officer Vice President, Investments Senior Vice President, General Counsel and Secretary Senior Vice President, Chief Financial Officer Genworth MI Canada Inc. (TSX:MIC) 28 Actionable Strategies for 2014
  • 31. ©2013 Google ©2013 Google Wrap-up Actionable Strategies for 2014 Genworth MI Canada Inc. (TSX:MIC) 29 Actionable Strategies for 2014
  • 32. ©2013 Google BIOGRAPHIES Brian Hurley Chairman and CEO Brian led the establishment of Genworth into the Canadian marketplace in 1994 and later led it through its initial public offering in 2009. He has more than 20 years of senior management experience in the mortgage insurance industry worldwide. From 2004 – 2009 he led Genworth’s activities and expansion in key international markets. Prior roles includes Senior Vice President, International of General Electric’s U.S. mortgage insurance business and Senior Vice President of Sales and Operations. Genworth MI Canada Inc. (TSX:MIC) Stuart Levings Senior Vice President, Chief Operating Officer 30 Stuart Levings is a qualified Chartered Accountant with over 15 years of professional experience in a variety of industry sectors. Since joining the Company in July 2000 as the Financial Controller, Stuart has held positions in finance and product development, including five years as Chief Financial Officer prior to becoming the Chief Risk Officer in January 2008. Before that, Stuart spent seven years with Deloitte & Touche. Stuart holds a Bachelor of Accounting Science degree from the University of South Africa and is a member of both the South African and Canadian Institutes of Chartered Accountants. Actionable Strategies for 2014
  • 33. ©2013 Google BIOGRAPHIES Debbie McPherson Senior Vice President, Sales and Marketing Debbie is responsible for developing and executing sales and marketing strategies, including key initiatives such as customer segmentation and sales program development. She brings more than 20 years of experience and proven success in sales and quality management. Debbie holds an AMP designation and plays an active role in many mortgage industry organizations including the Canadian Real Estate Association, the Canadian Association of Accredited Mortgage Professionals and the Canadian Homebuilders Association. Genworth MI Canada Inc. (TSX:MIC) Susan Noonan Vice President, Operations 31 Susan is responsible for developing and executing the customer experience strategies within the Canadian underwriting and call centres. Key initiatives include lender and regional specific underwriting, productivity, process efficiencies and bringing innovation to mortgage underwriting. Susan has more than 20 years of industry experience. Since joining the company in 1995, she has held positions in Sales, Risk and Operations. Susan is a member of the Canadian Association of Accredited Mortgage Professionals and an active volunteer for the United Way and Habitat for Humanity. Actionable Strategies for 2014
  • 34. ©2013 Google BIOGRAPHIES Lisa Trudell VicePresident, Business Development Lisa is responsible for managing key mortgage lender relationships at a national level to develop mutually beneficial strategies and resolve customer issues with the goal of increasing customer satisfaction, market share and revenue. Lisa has more than 25 years of professional experience in the financial services industry and a proven track record in sales & sales management, strategic planning and product development. She holds an MBA from the Ivey School of Business and is a member of the Canadian Association of Accredited Mortgage Professionals. She joined Genworth Canada in 2004. Genworth MI Canada Inc. (TSX:MIC) Robert Kirby Vice President, Loss Mitigation and Investigations 32 Robert is responsible for Claims management, Default Management, Quality Assurance, Appraisal Management and our Special Investigations Unit. Since joining the company in 1998, Rob has held the position of Manager, Loss Mitigation; Quality Leader; and, most recently, Leader, Loss Mitigation and Investigations. Rob’s previous experience includes 8 years with the Bank of Nova Scotia in Ottawa, holding various management positions within a specialized collection unit. Actionable Strategies for 2014
  • 35. ©2013 Google BIOGRAPHIES Craig Sweeney Craig has more than 17 years of professional experience in the mortgage and banking industry. Since joining the Company in 1998, he has held senior positions in Operations and Business Development, including Director of Risk Operations and Director of Product Development. Jamie Woods Senior Vice President, Chief Risk Officer Genworth MI Canada Inc. (TSX:MIC) Regional Risk Manager 33 In his role as a Regional Risk Manager, Jamie provides constant analysis of the impacts of the economy on different segments of the housing market and how it affects Genworth Canada’s business. Prior to joining Genworth Canada in 2007, Jamie spent 5 years with the National Bank of Canada and 4 years with HSBC Bank Canada. He holds a bachelor's degree in business administration with a minor in economics and is a member of the Canadian Association of Accredited Mortgage Professionals. He is a member of the Quebec Board of Directors of Habitat for Humanity. Actionable Strategies for 2014
  • 36. ©2013 Google BIOGRAPHIES Rick Barnett Vice President, Investments Rick joined Genworth Canada in 2008 after a career of over 20 years of capital markets trading and investment experience. Prior to joining the company, Rick was a Managing Director and Partner with Cornerstone Capital Partners, a Canadian Hedge Fund specializing in global fixed income and currencies, relative value investing. Rick spent the majority of his career at RBC Capital Markets where he was a Managing Director and held senior positions within the firm. Rick is a graduate of University of Toronto with a degree in economics. Genworth MI Canada Inc. (TSX:MIC) Winsor Macdonell Senior Vice President, General Counsel and Secretary 34 Winsor is responsible for all of the Company’s legal and compliance matters, as well as government relations. Winsor joined the Company in 1999. Prior to joining the Company, he spent several years in the life and property and casualty industry. Winsor received an honours Bachelor of Commerce degree from Queen’s University in 1988 and his LL.B. from Dalhousie University in 1992. Actionable Strategies for 2014
  • 37. ©2013 Google BIOGRAPHIES Philip Mayers Senior Vice President, Chief Financial Officer Philip became Chief Financial Officer of the Company in 2009. He has over 20 years of finance and general management experience in financial services businesses. Since joining the Company in 1995, Phillip has held several senior positions, including Vice President, Finance, Vice President, Operations, and Senior Vice President, Business Development. Prior to joining the Company, he held finance positions with MICC, Esso Petroleum Canada and Deloitte & Touche. He holds CPA, CA, CMA and AMP professional designations and has a Master of Accounting degree from the University of Waterloo. Genworth MI Canada Inc. (TSX:MIC) Samantha Cheung Vice President, Investor Relations 35 Samantha joined the Company in 2009 at the time of the IPO to establish and lead the Investor Relations platform. Prior to this, she was with CIBC World Markets and Merrill Lynch Canada, in a variety of capital markets roles, including debt origination, derivatives, investment banking and equity research. She is a graduate of engineering from Queen’s University and obtained an MBA from the Rotman School of Management in Toronto. Samantha also holds an active board position with Women in Capital Markets. Actionable Strategies for 2014
  • 38. ©2013 Google Investor Day 2013 Actionable Strategies for 2014 CONTACT: Samantha Cheung, Vice President, Investor Relations 905 287 5482 Samantha.Cheung@genworth.com Genworth MI Canada Inc. (TSX:MIC) Actionable Strategies for 2014