Leading market position and brand recognition Strong capital adequacy, which we expect the insurer to maintain over the next three years Strong balance sheet with limited leverage and low risk investment portfolio Weak operating performance relative to peers Potential earnings volatility reflecting its monoline focus The 'A+' rating on Genworth Financial Mortgage Insurance Pty Ltd. (Genworth Australia) reflects our assessment of its very strong competitive position and its strong financial risk profile that lead to a split anchor of 'a+/a'. We assign the higher anchor recognizing the company's leading market position and strong brand, its diversified geographic footprint across Australia, and its sound customer base. Genworth Australia plays in important role in the industry as an advocate in government and
