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
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
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