2. Forward-Looking Statements
This presentation contains “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,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” or
words of similar meaning and include, but are not limited to, statements regarding the outlook for
the company’s future business and financial performance. Forward-looking statements are based
on management’s current expectations and assumptions, which are subject to inherent
uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and
results may differ materially due to global political, economic, business, competitive, market,
regulatory and other factors, including those discussed in the Appendix and in the risk factors
section of the company’s Form 10-K filed with the SEC on February 28, 2007, Form 8-K filed with the
SEC on April 16, 2007 and Form 10-Q filed with the SEC on October 26, 2007. The company
undertakes no obligation to publicly update any forward-looking statement, whether as a result of
new information, future developments or otherwise.
For important information regarding the use of non-GAAP measures included in this presentation,
see our Third Quarter Financial Supplement which can be found on our website at
www.genworth.com.
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3. Overview
Highlights
Ireland France
UK Portugal
Present In Europe Since 1972
1986 1986
1972 1989
’04 Shift – Exited Certain Relationships
Finland Sweden Italy Netherlands
Product & Geographic Diversification
1993 1994 1995 1995
Regional Structure
• Nordic: Finland, Sweden, Norway,
Norway Germany
Denmark
Spain
1995 1996
1996
1995
Denmark
• Central: France, Germany, Netherlands,
Switzerland
Switzerland Greece Mexico Poland
1999 2005 2005 2005
• Western: Ireland, UK
• Southern: Spain, Portugal, Italy, Greece
• New Markets: Poland, Mexico, Canada
Czech Republic Hungary Canada
2006 2006 2007
Local Market Presence
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4. Product Overview
Coverage Financial Obligations Covered
Life Personal Loans
Involuntary Unemployment Auto Loans 3-5 Yr Average
Credit Cards
Accident Policy Life
Mortgages
Disability
Variety Of Product Designs
Distributed At Point Of Sale
Monthly Pay Or Single Premium
200+ Fin’l Institutions Globally
Direct or Reinsurance
Distributor Branded
Commission Based W/ Risk Sharing
Business to Business Model
One Genworth Approach
3
5. European Market ~ $18 Billion Premium
Credit Cards 10% GNW
Personal Cardif
Our
Loan
Focus
32%
Other
Other 6%
Captives
Mortgage
52%
Underlying Loan Type By Competitor ($B)
Market Size Estimate based on Finnacord 2004 and GNW Management Estimates
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6. GNW Geographic & Product Dispersion
Sales By Geographic Region Financial Obligations Covered
2004 9/30/07
Sales ($B) 1.5 2.2
New Markets
Pers. Loan 40%
Structured
Nordic
Mortgages 17%
Southern
Auto Finance 12%
Central
Credit Cards 11%
Western Other Prod. 20%
September 2007 YTD
2004 2007E
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7. Limited Claims Volatility
Lender Sold At Origination Lender Risk Sharing
Maximum Claim Amounts Limited Underwriting Risk
Exclusion Waiting Claim Payment
Coverage Type Period Period Period Limit Severity Limit
Involuntary Unemployment 3-6 Months 30-60 Days 6-12 Months
Accident 60 Days 30 Days 12 Months
Disability 60 Days 30 Days 12 Months
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8. Key Financial Levers
Key Metrics
Loss Ratio
– 30+ Years Claim Experience
Pre-tax
Fee Inc. Profit
Commission Expense
Losses
Inv. Inc.
– Commission/Profit Share Driven
(Claims)
– Varies Widely by Market/Lender
Earned
Prem. Commissions Expense Ratio
– Operating Cost Productivity
$1.6B Unearned Premium Reserve
Op Exp As Of 9/30/07
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9. Financial Metrics
Key Metrics
2004 2005 2006 9/30/07 YTD
Loss Ratio (1) 20% 19% 16% 17% Stable Underwriting Experience
Expense Ratio (2) 39% 50% 53% 52% Commission Driven
Shift To High Margin Products
P-Tax Op. Margin 9% 10% 12% 11%
Effective Tax Rate 39% 37% 28% 27% Focus on Tax Efficiency
(1) Calculated As Benefits And Change In Reserves Divided By Premiums.
(2) Calculates As Acquisition And Operating Expenses, Net Of Deferrals, Divided By Total Revenues.
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10. Sales Growth
Growth Strategy
Established Platforms
($B)
– Penetrate Existing Accounts
CAGR
~15+%
– Establish New Relationships
2.2
New Mkts.
1.9 Structured Deals
Structured 1.5
Deals – Creative Product Solutions
New Markets
Est.
– Leverage Product Expertise
Platforms
New Products
2004 2005 2006 2007E
9
11. European Branding
Objectives
Name Recognition, Brand Awareness, and Value Proposition
Generate Perceptions: Significant, Global & Local B2B Brand
Focus/Action Plan
Geographic Priorities
High Growth - Spain, Italy and Germany
Established - UK and Ireland
Execution
European Pro Golf Sponsorship
“Think It Possible” - Targeted Ad Campaign
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12. Summary
Operating Income
CAGR
15%+
Product Expertise
Broad Distribution Network
Scalable Cost Effective Platform
Capital Efficient
Attractive Returns
2004 2005 2006 2007E
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13. Appendix
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,” “believes,” “seeks,” “estimates,” “will,” or words of
similar meaning and include, but are not limited to, statements regarding the outlook for our future business and financial performance. Forward-
looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business,
competitive, market, regulatory and other factors and risks, including the following:
• Risks relating to our businesses, including interest rate fluctuations, downturns and volatility in equity and credit markets, defaults in portfolio
securities, downgrades in our financial strength and credit ratings, insufficiency of reserves, legal constraints on dividend distributions by
subsidiaries, competition, availability and adequacy of reinsurance, defaults by counterparties, regulatory restrictions on our operations and changes
in applicable laws and regulations, legal or regulatory investigations or actions, political or economic instability, the failure or any compromise of the
security of our computer systems, and the occurrence of natural or man-made disasters or a pandemic disease;
• Risks relating to our International segment, including political and economic instability, foreign exchange rate fluctuations, unexpected changes in
unemployment rates, deterioration in economic conditions or decline in home price appreciation, unexpected increases in mortgage insurance
default rates or severity of defaults, decreases in the volume of high loan-to-value international mortgage originations, increased competition with
government-owned and government-sponsored entities offering mortgage insurance, changes in regulations, and growth in the global mortgage
insurance market that is lower than we expect;
• Other risks, including the possibility that in certain circumstances we will be obligated to make payments to GE under our tax matters agreement
even if our corresponding tax savings are never realized and payments could be accelerated in the event of certain changes in control, and
provisions of our certificate of incorporation and by-laws and our tax matters agreement with GE may discourage takeover attempts and business
combinations that stockholders might consider in their best interests.
We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.
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