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Genworth Financial Announces Addition of Michael Derstine as Chief Risk Officer at U.S. Mortgage Insurance Unit

   Genworth Financial Announces Addition of Michael Derstine as Chief Risk
                   Officer at U.S. Mortgage Insurance Unit

Well-Regarded Industry Veteran Joins Management Team

PR Newswire

RICHMOND, Va., Jan. 14, 2013

RICHMOND, Va., Jan. 14, 2013 /PRNewswire/ -- Genworth Financial, Inc. (NYSE:
GNW) today announced that Michael Derstine joined the company January 3 as
Chief Risk Officer (CRO) for its Genworth U.S. Mortgage Insurance (USMI) unit.

Derstine previously worked at Republic Mortgage Insurance Company (RMIC),
where he held several leadership roles, most recently as capital deployment
group manager. In this position, he led the underwriting risk policy,
portfolio risk monitoring and pricing groups, and developed risk assessment
and performance monitoring strategy focused on early detection and
intervention of underwriting and performance deficiencies, and developed
models to assess future default risk. Derstine previously served as pricing
group manager at RMIC, where he led the mortgage valuation, actuarial analysis
and quantitative modeling teams. He has been a frequent presenter before
regulators and at industry conferences.

"Mike is a respected mortgage insurance industry veteran with experience in
leading risk and multiple other functions, and strong relationships with
regulators, government-sponsored enterprises, and rating agencies that make
him a valuable addition to the USMI Risk team," said Rohit Gupta, president
and chief executive officer of Genworth USMI.

Derstine earned an MBA degree from Wake Forest University and a BS degree from
Messiah College.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance
holding company dedicated to helping people secure their financial lives,
families and futures. Genworth has leadership positions in offerings that
assist consumers in protecting themselves, investing for the future and
planning for retirement -- including life insurance, long term care insurance,
financial protection coverages, and independent advisor-based wealth
management -- and mortgage insurance that helps consumers achieve home
ownership while assisting lenders in managing their risk and capital.

Genworth has approximately 6,300 employees and operates through three
divisions: Insurance and Wealth Management, which includes U.S. Life
Insurance, Wealth Management and International Protection segments; Global
Mortgage Insurance, which includes U.S. and International Mortgage Insurance
segments; and the Corporate and Runoff division. Its products and services are
offered through financial intermediaries, advisors, independent distributors
and sales specialists. Genworth Financial, Inc., which traces its roots back
to 1871, became a public company in 2004 and is headquartered in Richmond,
Virginia. For more information, visit From time to time,
Genworth Financial, Inc. releases important information via postings on its
corporate website. Accordingly, investors and other interested parties are
encouraged to enroll to receive automatic email alerts and Really Simple
Syndication (RSS) feeds regarding new postings. Enrollment information is
found under the "Investors" section of

SOURCE Genworth Financial, Inc.

Contact: Media - Alfred King (Genworth U.S. Mortgage Insurance),
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