Genworth Announces Temporary Suspension of Individual Long Term Care Insurance Sales in California

Genworth Announces Temporary Suspension of Individual Long Term Care Insurance
                             Sales in California

Plans to launch Privileged Choice® Flex upon approval

PR Newswire

RICHMOND, Va., March 6, 2013

RICHMOND, Va., March 6, 2013 /PRNewswire/ --Genworth Financial, Inc. (NYSE:
GNW) today announced a suspension of sales of individual long term care
insurance products in California, California Choice and Choice Partnership,
effective March 21, 2013. California Choice and Choice Partnership
represented approximately 12% of Genworth's 2012 long term care insurance

"We continue to invest in developing and implementing smart, sustainable
products built for the future," said Pat Kelleher, President and CEO of
Genworth Life Insurance Company. "We believe the suspension of our individual
long term care products in California, pending approval of our new Privileged
Choice^® Flex product in California, is appropriate in light of the return
profiles on both the California Choice and Choice Partnership products. It is
important that the products we offer are priced to balance the needs of our
consumers with our desire to achieve long-term profitability."

Genworth has filed a new individual long term care insurance product,
Privileged Choice^® Flex in California which once approved, will replace
California Choice and Choice Partnership.  "We are working closely with the
California Department of Insurance to approve Privileged Choice^® Flex with
the goal of resuming sales in the near future," said Pat Kelleher. In
addition, Genworth plans to launch the new Privileged Choice^® Flex 2 product
in 31 states on April 15, 2013. These actions will have no impact on existing

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
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found under the "Investors" section of

This press release includes certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to our plans,
objectives, expectations and intentions and other statements contained in this
release that are not historical facts as well as statements identified by
words such as expects, anticipates, intends, plans, believes, seeks,
estimates, or words of similar meaning. These statements are based on our
current beliefs or expectations and are inherently subject to significant
uncertainties and changes in circumstances, many of which are beyond our
control. Actual results may differ materially from these expectations due to
changes in global political, economic, business, competitive, market and
regulatory factors.

SOURCE Genworth Financial, Inc.

Contact: Tom Topinka (U.S.), +1-804-662-2444,
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