Competitive provider of residential mortgage insurance Strong earnings from the mortgage insurance segment Strain on group capital adequacy due to weak operating performance of the life insurance subsidiaries Challenged LTC business with life and annuity product lines in runoff Weak enterprise risk management (ERM) and constrained financial flexibility S&P Global Ratings' ratings on Genworth Financial Inc. (GNW) and its operating companies (collectively, Genworth) reflect the group's satisfactory business risk profile (BRP) and less than adequate financial risk profile (FRP) based on an adequate competitive position stemming from its mortgage operations and upper adequate capitalization partly offset by a moderate risk position. The group credit profile (GCP) is 'bb'. The GCP includes all of Genworth except for its Australia- and Canada-based
