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2015 Public Accountability Statement

Proven Industry & Community Commitment

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 affordable and accessible to more Canadians.

As at December 31, 2015, Genworth Canada had $6.2 billion in total assets and $3.4 billion in shareholders’ equity

Teamwork Rewarding Work Living our values Well-being

We are part of a collegial, talented team dedicated to making a meaningful difference. We take pride in what we accomplish together and celebrate these achievements.

We embrace challenging assignments, targeted career development and personal growth to truly understand and make a positive impact for our employees and our customers.

Our values define who we are and how we work, and they guide our decisions each day. These values are fundamental to our success in keeping our promises to our customers, our colleagues, and our partners.

A career at Genworth Canada provides meaningful work experience and ongoing learning opportunities. We are committed to ensuring our employees have the support they need to succeed.

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Letter from the President & CEO

Proven Industry
& Community

Collaboration is the cornerstone of our business. Every day we work with our customers and industry partners to help Canadian families achieve their homeownership dreams.

A highlight of 2015 was celebrating Genworth Canada’s 20th anniversary at our customer appreciation event in June. Reminiscing with long-standing industry partners on the progress of Canada’s housing and mortgage market was enlightening. The industry has been through evolutionary change over the last two decades, and I’m proud to say that Genworth Canada has played a key role in helping to shape the strong and vibrant housing market we operate in today.

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Proven industry & community commitment

Homebuyer Education
Helping first-time homebuyers achieve homeownership responsibly

Today’s suite of mortgage insurance products is wellestablished, offering homebuyers the opportunity to start building equity in a home with a low down payment while still benefiting from competitive interest rates. The key is ensuring that homebuyers are purchasing homes they can afford today and throughout the lifetime of the mortgage.

To guide homebuyers in the right direction, Genworth Canada provides a variety of resources that are designed to help homebuyers make financially sound choices. These resources can be found at homeownership.ca.


Helping first-time homebuyers achieve homeownership responsibly

Industry Collaboration
Helping mortgage industry professionals deliver added value

Genworth Canada’s success is built on relationships. Everyone in the business is empowered to respond to customer needs and deliver value beyond mortgage insurance. While our value-proposition extends across a wide variety of service offerings, the area of industry education and professional development is one for which we are particularly well-known.


Helping mortgage industry professionals deliver added value

Homeowner Assistance
Offering hope in times of need

Genworth Canada’s Homeowner Assistance Program, often referred to as “HOAP,” helps qualified homeowners weather short-term financial hardship without sacrificing their homeownership dreams. In other words, HOAP gives hope.

Over the years, we have helped more than 36,000 Genworth Canada-insured homeowners stay in their homes during times of financial pressure, normally caused by job loss, marital separation, illness or other unexpected situations that affected their incomes.


Offering hope in times of need

View a short video to hear more from Melissa Safadie about Genworth Canada's Homeowner Assistance Program.

Active Government Relations
Helping government protect Canada's housing finance system — coast-to-coast

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, 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 finance policy. We also work and meet with provincial governments and regulators on matters of interest to homeowners and taxpayers.


Helping government protect Canada's housing finance system — coast-to-coast

Contributing to the Economy
Helping drive economic prosperity for our country and for our people

Genworth Canada — Tax payments (for the year ended December 31, 2015)

Province Income taxes Premium taxes Total
Newfoundland 1,142,662 613,622 1,756,285
Prince Edward Island 175,794 58,494 234,289
Nova Scotia 1,362,405 405,457 1,767,862
New Brunswick 571,331 239,107 810,438
Manitoba 1,494,251 490,592 1,984,843
Saskatchewan 2,241,376 1,161,732 3,403,108
British Columbia 6,460,436 3,577,654 10,038,091
Yukon 43,949 5,225 49,174
Northwest Territories 43,949 10,540 54,488
Nunavut - 231 231
Québec 6,174,059 2,336,555 8,510,614
Ontario 21,154,794 8,125,647 29,280,441
Alberta 11,886,608 4,997,661 16,884,269
FEDERAL 67,008,707 67,008,707
TOTAL $119,760,320 $22,022,519 $141,782,838

Helping drive employment across Canada

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

Helping drive employment across Canada

Active Volunteerism
Helping Canadians work together to build stronger and more sustainable communities

June month of service

Each year, Genworth Canada employees are encouraged to participate in a variety of planned volunteer activities in which they can get involved and give back to the communities in which they work and live. In June 2015, we had another record-breaking year during which we logged more than 1,700 hours and supported 26 non-profit organizations through 45 projects across the country! More than 100 employees participated in a number of activities such as gardening, painting, home-building with Habitat for Humanity, and helping local shelters and wellness centres. Genworth employees are helping to make a difference, and we are extremely proud when we hear back from organizations such as Wellspring.

The following is a list of charities supported through our 2015 June Month of Service:

charities supported through our 2015 June Month of Service

OpsGiving Week

In addition, in October 2015, we launched OpsGiving: a designated week of giving for the Genworth Canada Operations team, which could not participate fully during the June month of service because of high business demands. The Operations team members delivered some impressive numbers in the last week of October, with 72 participants supporting seven events at five local charities. They also succeeded in having more than 1,355 pounds of food donated to Eden Food for Change – making it one of our largest food drive donations ever!

Canada Builds

As part of our ongoing effort to make homeownership affordable to many Canadians, Genworth Canada helped found Habitat for Humanity’s Canada Builds Program in 2014. This program is designed to help build or rebuild homes in communities that have been affected by a natural disaster, have a limited build season or are in rural areas.

Home Suite Hope, Homeward Bound

Another exciting initiative that took place in 2015 was a new partnership that Genworth Canada established with Homeward Bound Halton, a community-based program that helps single mothers struggling to achieve longterm economic stability. Through the program, mothers are provided with funding and access to education, employment, housing, child-care and social supports. This includes a fully funded college education at Sheridan College in Oakville, Ontario, and a 14-week professional internship upon completion of their studies. In 2015, impressed by the success of the program to date and the empowerment it provides to single mothers, Genworth Canada committed $75,000 (over three years) to Homeward Bound Halton to help support the growth and expansion of the program in and beyond Halton.


Helping Canadians work together to build stronger and more sustainable communities

Public Accountability Statement

Genworth Canada’s 2015 Public Accountability Statement is produced and filed as the public accountability statement required for Genworth Financial Mortgage Insurance Company Canada.

All dollar amounts in this report are in Canadian dollars unless stated otherwise. Genworth Financial Mortgage Insurance Company Canada is a subsidiary of Genworth MI Canada Inc. (TSX: MIC) and is referred to in this Statement as Genworth Canada or the Company. This Public Accountability Statement is published for the financial year ended December 31, 2015.

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Genworth Canada 2015 Public Accountability Statement
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