Genworth MI Canada Inc. 2012 Annual Reportinnovation excellence results

Fostering a spirit of innovation and excellence, where nothing is static and everything can always be improved, is what enables Genworth Canada to deliver year after year of profitability and attractive returns for shareholders. Our difference is in our people and the way we do business. We believe in responsible homeownership and we are committed to working with our customers to help Canadians achieve their homeownership dreams.

Corporate Profile

Genworth MI Canada Inc. (TSX: MIC) through its subsidiary, Genworth Financial Mortgage Insurance Company Canada (Genworth Canada), is the largest private residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, homeownership more accessible to first-time homebuyers. corporate Profile Table
¹ Excludes $100 million impact of change in premium recognition curve for the quarter ended March 31, 2009. Including the impact of
  changes to the premium recognition curve, for the year ended December 31, 2009, operating earnings per share (diluted) would have
  been $3.23 and operating return on equity would have been 16%.
² Adjusted for the impact of the government guarantee fund exit fee reversal in 2012. Including the impact of the government guarantee exit
  fee reversal, net operating income, operating return on equity and operating earnings per share were $462 million, 17% and $4.67 respectively.
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Video Message

a word from
our chairman and
chief executive officer

Letter to Shareholders

In 2012, Genworth MI Canada (Genworth Canada) continued a trend of solid annual growth, delivering an 11% increase in earnings per share and over 14% increase in book value per share. In each quarter we reported strong results, and we ended the year having delivered on all our strategic priorities.

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our customer service

At Genworth Canada, we believe in creating customer experiences that foster engagement, nourish relationships and sustain profitablity. Through the dedication and experience of our account managers and underwriters, and our constantly evolving processes and technology, we deliver value beyond morgage insurance.

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Risk Management

Risk Management
our unique approach to
risk management

Prudent risk management is a cornerstone of our business. Our proactive and disciplined risk mangement framework allows us to maintain a high-quality and well-diversified portfolio. With more than 20 years of data, we have established proprietary tools and processes that our lenders find valuable and that contribute to the safety and soundness of Canada's housing market.

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leveraging our financial
strength and stability

In 2012, Genworth Canada maintained its track record of delivering strong profitablity and shareholder returns. By remaining focused on proactive risk management, superior customer service and disciplined financial management, the Company achieved top-line growth, loss ratio improvement, increased net operating income and enhanced capital.

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Corporate Responsibility

Corporate Responsibility
helping build stronger
communities across Canada

Genworth Canada is committed to helping build stronger communities across Canada. We do this by enabling responsible homeownership, promoting financial literacy and supporting local and national causes that our people believe in. Our values – heart, integrity and excellence – guide our people, in everything they do, at work and in their communities.

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Habitat for Humanity in Canada and Haiti     LINK TO VIDEO

Chairman's Award Recipients

The Chairman's Award of Excellence recognizes Genworth Canada employees who consistently work within their teams to maximize business performance through innovation, collaboration, commitment and service excellence. These individuals have contributed to creating a positive and effective work environment and fostering an inclusive culture, while managing demanding roles and challenging projects.

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Additional Downloadable Documents