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News Release 6620 West Broad Street Richmond , VA 23230 Genworth Genworth Financial Announces Third Quarter 2021 Results Third Quarter Net Income of $ 314 Million and Adjusted Operating Income of $ 239 Million • Successfully completed initial public offering ( IPO ) of Enact Holdings , Inc. ( Enact ) • Enact adjusted operating income of $ 134 million , with 10 percent annual growth in primary insurance in force and a 14 percent loss ratio • Enact's PMIERs¹ sufficiency ratio estimated at 181 percent , $ 2,287 million above published requirements • U.S. life insurance segment adjusted operating income of $ 93 million driven by long term care insurance ( LTC ) results benefitting from in force rate actions and net investment income • Holding company cash and liquid assets of $ 638 million and $ 809 million of holding company debt retired Richmond , VA ( November 2 , 2021 ) - Genworth Financial , Inc. ( NYSE : GNW ) today reported results for the quarter ended September 30 , 2021. The company reported net income² of $ 314 million , or $ 0.61 per diluted share , in the third quarter of 2021 , compared with net income of $ 418 million , or $ 0.82 per diluted share , in the third quarter of 2020. The company reported adjusted operating income³ of $ 239 million , or $ 0.46 per diluted share , in the third quarter of 2021 , compared with adjusted operating income of $ 125 million , or $ 0.25 per diluted share , in the third quarter of 2020 . " Genworth delivered another quarter of strong results , " said Tom McInerney , Genworth President and CEO . " At the same time , we continued to execute against our strategic plan , including the successful completion of the Enact IPO which improved Genworth's financial position and drove ratings improvements at both Enact and Genworth . With this critical step behind us , we have a clearer path to reduce holding company debt to a more sustainable level , which in turn will enable Genworth to pursue other strategic priorities that are aimed at creating both near - term and long - term shareholder value . " 1 Private Mortgage Insurer Eligibility Requirements . 2 Unless otherwise stated , all references in this press release to net income ( loss ) , net income ( loss ) per share , adjusted operating income ( loss ) , adjusted operating income ( loss ) per share and book value per share should be read as net income ( loss ) available to Genworth's common stockholders , net income ( loss ) available to Genworth's common stockholders per diluted share , adjusted operating income ( loss ) available to Genworth's common stockholders , adjusted operating income ( loss ) available to Genworth's common stockholders per diluted share and book value available to Genworth's common stockholders per share , respectively . 3 This is a financial measure that is not calculated based on U.S. Generally Accepted Accounting Principles ( Non - GAAP ) . See the Use of Non - GAAP Measures section of this press release for additional information . 1