Genworth Financial, Inc. is a diversified insurance holding company that operates primarily in the United States. The company's business model is structured around three main segments: Enact, Long-Term Care Insurance (LTC), and Life and Annuities. Enact Holdings, Inc., a majority-owned subsidiary, provides private mortgage insurance products that facilitate homeownership by protecting lenders against default risk. The Enact segment is currently Genworth's primary growth and capital-generation engine, delivering the vast majority of the company's adjusted operating income. The Long-Term Care Insurance segment manages a massive legacy block of policies designed to cover the costs of nursing facilities, assisted living, and home care. Genworth has been actively executing a multi-year rate action plan to stabilize this legacy LTC block and achieve economic breakeven. The Life and Annuities segment includes traditional life insurance and fixed annuities, which are largely in runoff. Geographically, Genworth's active operations are concentrated in the U.S., following the historical divestiture of its international mortgage insurance businesses in Canada and Australia. The company's competitive position is anchored by Enact's strong market share in the U.S. mortgage insurance industry, while its corporate strategy focuses on maximizing the value of Enact, managing legacy liabilities, and developing new aging-care services under the CareScout brand.
