2014-Public-Accountability-Statement
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2014 Public Accountability Statement

20 Years at the
Heart of Homeownership
in Canada

Corporate Profile

Genworth Financial Mortgage Insurance Company Canada (Genworth Canada), a subsidiary of Genworth MI Canada Inc. (TSX: MIC), is the largest private residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers.

As at December 31, 2014, Genworth Canada had $5.8 billion in total assets and $3.3 billion in shareholders’ equity.

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Letter from the president & CEO

Celebrating 20 years
at the heart of
homeownership
in Canada

SEE FULL letter from the president & CEO

Supporting mortgage and real estate
industry professionals

In 2014, Genworth Canada launched a number of initiatives designed to provide greater tools and resources to industry professionals. Among these was our Homeownership Education Week seminar and our innovative HomeOpeners App — both targeting mortgage and real estate professionals looking to expand their industry knowledge and better respond to their customer needs.

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Supporting mortgage and real estate industry professionals

Supporting
first-time homebuyers

Genworth Canada is committed to enabling responsible homeownership. To this end, we provide information and resources to help first-time homebuyers better understand and prepare for the home buying process. In addition to articles and advice shared through our consumer website (homeownership.ca), social media channels and bi-annual HomeOwnership Digest, we launched a number of initiatives in 2014 designed to help educate first-time buyers on the benefits of mortgage insurance and other aspects of financing and choosing the right home.

CLICK HERE TO READ MORE LINK TO HOMEOPENERS VIDEOS LINK TO OWN SWEET HOME VIDEOS

Supporting homeowners
through difficult financial times

Since 2007, Genworth Canada has completed more than 30,000 workouts, helping insured homeowners across Canada stay in their homes during temporary financial setbacks.

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Supporting homeowners through difficult financial times

Supporting
affordable homeownership initiatives

Longstanding supporter of Habitat for Humanity Canada

Founding sponsor of Canada Builds Program

In May of 2014, Habitat for Humanity Canada launched an entirely new way for Canadians to engage in the mission of Habitat, bringing the concept of Habitat International’s Global Village program to our national soil. As a longstanding partner of Habitat, Genworth Canada believes in the importance of expanding Habitat’s reach across Canada and committed a $250,000 multi-year financial contribution to help establish the program.

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Supporting the safety and soundness
of Canada’s housing market

Active Government Relations Program

Genworth Canada has a strong presence in Ottawa – regularly meeting and communicating with the Department of Finance, the Office of the Superintendent of Financial Institutions (OSFI), the Bank of Canada and members of Parliament. We are frequently consulted and regularly share data and advice, to help guide the direction and substance of Canada’s housing policy.

Photo taken at an event hosted by the Oakville Chamber of Commerce; Left to right: Winsor Macdonell, SVP, General Counsel and Secretary, Genworth Canada; Debbie McPherson, SVP, Sales and Marketing, Genworth Canada; Steven Poloz, Governor of the Bank of Canada; Phil Mayers, SVP, Chief Financial Officer, Genworth Canada.

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Supporting
Canada’s economy

Creating jobs coast to coast

With offices in Oakville and Montreal, and regional account managers and underwriters, Genworth Canada supports lenders and homebuyers across the country.

Helping fund the top priorities of Canadians

Genworth Canada – Tax payments (for the year ended December 31, 2014)1

PROVINCE INCOME TAX PREMIUM TAX TOTAL
Newfoundland 4,170,529 388,220 4,558,749
Prince Edward Island 569,572 44,720 614,292
Nova Scotia 4,841,149 684,532 5,525,682
New Brunswick 1,969,722 149,964 2,119,687
Manitoba 4195746 378,187 4,573,933
Saskatchewan 8,112,812 967,596 9,080,409
British Columbia 19,313,615 1,972,886 21,286,501
Yukon 91,208 8,107 99,315
Northwest Territories 94,034 7,435 101,470
Nunavut 2,146 300 2,446
Québec 19,155,578 2,142,310 21,297,888
Ontario 66,160,871 5,914,203 72,075,074
Alberta 38,630,676 3,737,741 42,368,417
FEDERAL 222,704,762 222,704,762
TOTAL 390,012,427 16,396,205 406,408,632

1 Income taxes paid in 2014 include a one-time payment from the reversal of the Government Guarantee Fund. The Government Guarantee Agreement was terminated and the Government Guarantee Fund reversed when the Protection of Residential Mortgage or Hypothecary Act (“PRMHIA”) became effective on January 1, 2013.

Supporting
active volunteerism

2014 June month of service

Every month of June, Genworth Canada employees are encouraged to participate in a variety of planned volunteer activities ranging from serving meals at local shelters, to painting rooms at a local wellness centre. Our 2014 June Month of Service was one of the most successful volunteer campaigns to date. In that one month alone our employees logged more than 1,000 volunteer hours supporting 28 different charities in more than 20 cities across the country.

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Supporting and rewarding
employees

One of the defining values of our culture is our commitment to providing employees with rewarding work and opportunities for professional development. We embrace challenging assignments, targeted career development and personal growth to truly understand and make a positive impact for our employees and our customers. Investing in building our employee’s knowledge base and skills enhances our ability to provide innovative solutions and services to our customers.

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Winners of Genworth Canadas 2014 Compass Awards

Winners of Genworth Canada’s 2014 Compass Awards with members of the Executive Team: From left: Winsor Macdonell, Debbie McPherson, Tim Watson, Stuart Levings, Shawn Smith, Marsha Seixeiro, Chris Curran, Tammy York, Fiona Cleghorn, Konstantin Sherbakov, Phil Mayers, Lynne Kotlarchuk, Craig Sweeney and Rhonda Lawson.

Community impact highlights
1995-2015

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Public accountability statement

Genworth Canada’s 2014 Public Accountability Statement is produced and filed as the public accountability statement required for Genworth Financial Mortgage Insurance Company Canada.

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