Genworth金融 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch 31,2025OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission file number001-32195 GENWORTH FINANCIAL, INC. (Exact name of registrant as specified in its charter) Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-T (§232.405 ofthis chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Table of Contents TABLE OF CONTENTS PART I—FINANCIAL INFORMATION Item1.Financial StatementsCondensed Consolidated Balance Sheets as of March31, 2025 (Unaudited) and December31, 2024Condensed Consolidated Statements of Income for the three months ended March31, 2025 and2024 (Unaudited)Condensed Consolidated Statements of Comprehensive Income for the three months ended March31, 2025 and2024(Unaudited)Condensed Consolidated Statements of Changes in Equity for the three months ended March31, 2025 and 2024 (Unaudited)Condensed Consolidated Statements of Cash Flows for the three months ended March31, 2025 and2024 (Unaudited)Notes to Condensed Consolidated Financial Statements (Unaudited)Note 1 — Business and Basis of PresentationNote 2 — Accounting ChangesNote 3 — Earnings (Loss) Per ShareNote 4 — InvestmentsNote 5 — Derivative InstrumentsNote 6 — Fair Value of Financial InstrumentsNote 7 — Deferred Acquisition CostsNote 8 — Future Policy BenefitsNote 9 — Policyholder Account BalancesNote 10 — Additional Insurance LiabilitiesNote 11 — Market Risk BenefitsNote 12 — Separate AccountsNote 13 — Liability for Policy and Contract ClaimsNote 14 — Income TaxesNote 15 — Segment InformationNote 16 — Commitments and ContingenciesNote 17 — Changes in Accumulated Other Comprehensive Income (Loss)Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations Item3.Quantitative and Qualitative Disclosures About Market RiskItem4.Controls and Procedures PART II—OTHER INFORMATION Item1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem5.Other InformationItem6.ExhibitsSignatures Table of Contents GENWORTH FINANCIAL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in millions, except par value and share amounts) GENWORTH FINANCIAL, INC. Table of Contents GENWORTH FINANCIAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Amounts in millions)(Unaudited) Table of Contents GENWORTH FINANCIAL, INC. GENWORTH FINANCIAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Amounts in millions)(Unaudited) Table of Contents GENWORTH FINANCIAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) (1) Business and Basis of Presentation Genworth Holdings, Inc. (“Genworth Holdings”) (formerly known as Genworth Financial, Inc.) was incorporated in Delaware in 2003 inpreparation for an initial public offering of its common stock, which was completed on May28, 2004. On April1, 2013, Genworth Holdings completeda holding company reorganization pursuant to which Genworth Holdings became a direct,100% owned subsidiary of a new public holding companythat it had formed. The new public holding company was incorporated in Delaware on December5, 2012, in connection with the reorganization, andwas renamed Genworth Financial, Inc. (“Genworth Financial”) upon the completion of the reorganization. The accompanying unaudited condensed financial statements include on a consolidated basis the accounts of Genworth Financial and its affiliatecompanies in which it holds a majority voting interest or power to direct activities of certain variable interest entities, which on a consolidated basis isreferred to as “Genworth,” the “Company,” “we,” “us” or “our” unless the context otherwise requires. All intercompany accounts and transactions havebeen eliminated in consolidation. References to “Genworth Financial” refer solely to Genworth Financial, Inc., and not to any of its consolidatedsubsidiaries. We manage our business through the followingthreereportable segments: •Enact. Enact Holdings, Inc. (“Enact Holdings”) comprises our Enact segment. Through Enact Holdings’ mortgage insurance subsidiaries,we offer private mortgage insurance products predominantly insuring prime-based, individually underwritten residential mortgage loans atspecified coverage percentages (“primary mortgage insurance”). Enact Holdings also selectively enters into insurance transactions withlenders and investors, under which it insures a portfolio of loans at or after origination (“pool mortgage insurance”).•Long-Term Care Insurance.Through our principal U.S. life insurance subsidiaries, we offer long-term care insurance products in theUnited States. Long-term care insurance p