1. First
Quarter
2013
May
1,
2013
Genworth MI Canada Inc.

2. Q1 2013 May 1, 2013Genworth MI Canada Inc. 2
Forward-­‐looking
and
non-­‐IFRS
statements
This
presenta>on
includes
certain
forward-­‐looking
statements.
These
forward-­‐looking
statements
include,
but
are
not
limited
to,
statements
with
respect
to
the
Company’s
future
opera>ng
and
financial
results,
expecta>ons
regarding
premiums
wriIen,
capital
expenditure
plans,
dividend
policy
and
the
ability
to
execute
on
its
future
opera>ng,
inves>ng
and
financial
strategies,
and
other
statements
that
are
not
historical
facts.
These
forward-­‐looking
statements
may
be
iden>fied
by
their
use
of
words
such
as
“may,”
“would,”
“could,”
“will,”
“expects,”
“an>cipates,”
“contemplates,”
“intends,”
“plans,”
“believes,”
“seeks,”
“es>mates,”
or
words
of
similar
meaning.
These
statements
are
based
on
the
Company’s
current
assump>ons,
including
assump>ons
regarding
economic,
global,
poli>cal,
business,
compe>>ve,
market
and
regulatory
maIers.
These
forward-­‐looking
statements
are
inherently
subject
to
significant
risks,
uncertain>es
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
assump>ons,
and
the
other
risks
described
in
the
Company’s
Annual
Informa>on
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
obliga>on
to
publicly
update
or
revise
any
forward-­‐looking
statement,
whether
as
a
result
of
new
informa>on,
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
underwri>ng
ra>os
such
as
loss
ra>o,
expense
ra>o
and
combined
ra>o,
as
well
as
other
performance
measures
such
as
net
opera>ng
income
and
return
on
net
opera>ng
income.
The
Company
believes
that
these
non-­‐IFRSs
financial
measures
provide
meaningful
supplemental
informa>on
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
opera>onal
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
hIp://investor.genworthmicanada.ca.
A
reconcilia>on
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.

3. Q1 2013 May 1, 2013Genworth MI Canada Inc. 3
Solid
Q1
2013
results
across
key
metrics
Net
opera>ng
income
$
85
MM
$76
MM
Opera>ng
Return
on
equity
12%
12%
Opera>ng
earnings
per
share
(diluted)
$0.86
$0.77
Q1
2013
Q1
2012
Book
Value
Per
Share
(diluted,
including
AOCI)
$27.31 $27.88
$28.72
$30.62
$31.32
Q1
2012 Q2
2012 Q3
2012 Q4
2012 Q1
2013
15%
YoY
growth

4. Q1 2013 May 1, 2013Genworth MI Canada Inc. 4
Consistent
results
PrioriFes
First
Quarter
2013

Premiums
wriIen
$84
million
of
new
premiums
wriIen

Prudent
risk
management
Loss
ra>o
of
31%

Investment
pordolio
return
$5.3
billion
investment
pordolio
Book
yield
of
3.7%
as
at
March
31,
2013

Capital
strength
Minimum
capital
test
of
216%

Dividends
and
return
to
shareholders
Quarterly
dividend
of
$0.32
per
common
share
Normal
course
issuer
bid
announced

5. Q1 2013 May 1, 2013Genworth MI Canada Inc. 5
Posi>ve
trends
in
delinquency
rate
Mortgage insurance portfolio
delinquency rate
Insurance
in-­‐force
March
31
2013
Dec
31
2012
Sept
30
2012
March
31
2013
Ontario
0.08%
0.09%
0.09%
46%
BC
0.20%
0.18%
0.18%
15%
Alberta
0.18%
0.22%
0.24%
16%
Quebec
0.19%
0.19%
0.20%
14%
Other
0.15%
0.14%
0.15%
9%
Canada
0.14%
0.14%
0.15%
100%

6. Q1 2013 May 1, 2013Genworth MI Canada Inc. 6
Recent
federal
budget
ConsultaFons
with
government
underway
 No
changes
to
high
loan-­‐to-­‐value
products
 Proposal
to
limit
use
of
pordolio
insurance
to
gov’t
sponsored
securi>za>on
programs
 Proposal
to
prohibit
use
of
insured
mortgages
in
private
securi>za>on
programs
 MIC
insured
mortgages
eligible
for
gov’t
sponsored
securi>za>on
programs
 Majority
of
MIC
insured
mortgages
currently
securi>zed
through
these
programs
March
budget
overview
Impact
on
MIC

7. Q1 2013 May 1, 2013Genworth MI Canada Inc. 7
Canadian
market
outlook
 Economy
to
grow
modestly
in
2013
…
Second
half
stronger
than
first
 Moderate
income
growth
 Stable
employment
outlook
Housing
market
 Low
rates
and
steady
employment
con>nues
to
support
housing
 Balanced
market
expected
to
keep
prices
rela>vely
flat
 Market
adap>ng
to
lower
more
sustainable
level
of
housing
ac>vity
 Borrower
quality
remains
high
Macroeconomic
environment

8. Q1 2013 May 1, 2013Genworth MI Canada Inc. 8
Book
value
con>nues
to
grow
$
millions
(except
EPS)
Q1
2013
Q4
2012
Q1
2012
Net
premiums
wriZen
$84
$
117
$79
Premiums
earned
144
147
147
Losses
on
claims
(44)
(46)
(56)
UnderwriFng
income
74
73
65
Adjusted
net
investment
income
(excluding
gains/losses)
45
46
43
Adjusted
net
operaFng
income
$85
$89
$76
Adjusted
operaFng
EPS
(diluted)
$0.86
$
0.90
$0.77
Book
value
per
share
(diluted
and
including
AOCI)
$31.32
$
30.62
$27.31
Demonstrated
track
record
of
performance

9. Q1 2013 May 1, 2013Genworth MI Canada Inc. 9
Core
business
outpaced
market
69
121
160
99
71
9
11
10
3
3
3
47
11
17
11
Q1
2012
Q2
2012
Q3
2012
Q4
2012
Q1
2013
($millions)
Refinance
Gross
PW
82
179
181
119
84
Risk
premium
(3)
(2)
(3)
(2)
-­‐
Net
PW
$79
$176
$178
$117
$84
Purchase
Porcolio
3
Premiums
wriZen
Q1‘12
Q2‘12
Q3‘12
Q4‘12
Q1‘13
$1.7
billion
in
unearned
premiums
 Lower
housing
ac>vity
as
housing
market
transi>ons
to
more
sustainable
level
 Resale
volumes
down
15%
year-­‐over-­‐year
 Improved
market
penetra>on
par>ally
offset
smaller
higher
loan-­‐to-­‐value
market
 Con>nued
demand
for
pordolio
insurance
(PW
represents
premiums
wriIen)

10. Q1 2013 May 1, 2013Genworth MI Canada Inc. 10
Solid
underwri>ng
performance
65 76 77 73 74
26
25 26 28 26
56 48
44
46 44
Q1'12 Q2'12 Q3'12 Q4'12 Q1'13
$147
UnderwriFng
profit
$144
Premiums
earned
UnderwriFng
profit
Expenses
Losses
on
claims
$147
Loss
ra>o
38%
32%
30%
31%
31%
Expense
ra>o
18%
17%
18%
19%
18%
Combined
raFo
56%
49%
48%
50%
49%
 New
reported
delinquencies
declined
by
6%
sequen>ally
despite
typical
seasonal
pressures
 Q1
loss
ra>o
flat
sequen>ally
 Con>nued
success
with
loss
mi>ga>on
programs
$148
$147
Consistent
underwriFng
profit
($millions)

11. Q1 2013 May 1, 2013Genworth MI Canada Inc. 11
Cash
5%
Federal
35%
Provincial
14%
Corporates
40%
Common Equity
6%
Investment
pordolio
remains
high
quality
 Balanced
high
quality
pordolio
• 49%
federal
&
provincial
bonds
• 40%
corporate
bonds
• 96%
of
bonds
‘A’
or
higher
 $324
million
posi>ve
mark-­‐to-­‐market
Total
$5.3
billion
1Pre-­‐tax
equivalent
book
yield
amer
dividend
gross-­‐up
of
general
pordolio
(as
at
March
31,
2013)
$
Billion
Porcolio
Assets
(MV)
$5.3
Pre-­‐tax
yield1
3.7
%
Dura>on
3.6
years

12. Q1 2013 May 1, 2013Genworth MI Canada Inc. 12
Strong
capital
posi>on
with
flexibility
145% 145% 145%
185% 185%
11% 17% 25%
25% 31%
156%
162%
170%
210%
216%
2010 2011 2012 1-­‐Jan-­‐13 31-­‐Mar-­‐13
Minimum
Capital
Test
RaFo
Buffer
Internal
MCT
raFo
target
MCT
raFo
Normal
course
issuer
bid
announced

13. Q1 2013 May 1, 2013Genworth MI Canada Inc. 13
Disciplined
execuFon
Proven
business
model
Solid
financial
foundaFon
Strategic
priori>es
remain
the
same!
Profitability
remains
a
key
focus

14. Q1 2013 May 1, 2013Genworth MI Canada Inc. 14
Ques>on
and
Answer
SAMANTHA
CHEUNG
VP
INVESTOR
RELATIONS
905
287
5482
samantha.cheung@genworth.com
www.genworth.ca
For
further
info: