Genworth Financial Files 2024 10-K

TL;DR

Genworth's 2024 10-K is in, check out the derivative details on annuities.

AI Summary

Genworth Financial Inc. filed its 2024 10-K on February 28, 2025, reporting on its fiscal year ending December 31, 2024. The filing details financial performance and includes information on derivative instruments, particularly those related to fixed indexed annuities and indexed universal life liabilities. The company's business address is 11011 West Broad Street, Glen Allen, VA.

Why It Matters

This filing provides investors with a comprehensive overview of Genworth Financial's financial health and operational performance for the fiscal year 2024, including details on significant financial instruments.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

• 2024 — Fiscal Year (Reporting period for the 10-K)
• 1231 — Fiscal Year End (Indicates the end date of the reporting period)
• 20250228 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• GENWORTH FINANCIAL INC (company) — Filer
• 11011 WEST BROAD STREET (address) — Business and Mail Address
• GLEN ALLEN (location) — City
• VA (location) — State
• 23060 (zip_code) — ZIP Code
• 804-281-6000 (phone_number) — Business Phone
• 20241231 (date) — Fiscal Year End
• 20250228 (date) — Filing Date

FAQ

From the Filing

0001193125-25-041860.txt : 20250228 0001193125-25-041860.hdr.sgml : 20250228 20250228135737 ACCESSION NUMBER: 0001193125-25-041860 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 184 CONFORMED PERIOD OF REPORT: 20241231 FILED AS OF DATE: 20250228 DATE AS OF CHANGE: 20250228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENWORTH FINANCIAL INC CENTRAL INDEX KEY: 0001276520 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] ORGANIZATION NAME: 02 Finance IRS NUMBER: 800873306 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32195 FILM NUMBER: 25687807 BUSINESS ADDRESS: STREET 1: 11011 WEST BROAD STREET CITY: GLEN ALLEN STATE: VA ZIP: 23060 BUSINESS PHONE: 804-281-6000 MAIL ADDRESS: STREET 1: 11011 WEST BROAD STREET CITY: GLEN ALLEN STATE: VA ZIP: 23060 10-K 1 d869080d10k.htm 10-K 10-K Table of Contents false FY 0001276520 Includes amounts related to derivative instruments. See note 5 for additional information. See note 5 for additional information on the impact of derivative instruments included in net investment gains (losses). Represents the year in which first monthly mortgage payments have been missed by the borrower. The period end valuations of financial futures were zero as a result of settling the margins on these contracts on a daily basis. Represents the embedded derivatives associated with our fixed indexed annuity liabilities. Represents the embedded derivatives associated with our indexed universal life liabilities. Represents reported and outstanding delinquencies less actual cures as of December 31 for each respective accident year. Does not include amounts related to embedded derivatives as of December 31, 2024 and 2023. Amounts represent derivative assets and/or liabilities that are presented gross within the balance sheet but are held with the same counterparty where we have a master netting arrangement. This adjustment results in presenting the net asset and net liability position for each counterparty. Includes amounts accounted for under the deposit method. Accident and health insurance is comprised of our long-term care insurance products. Primarily includes balances related to our universal and term universal life insurance products. The performance adjustment relates to additional awards expected to be earned through the achievement of certain performance metrics. Amounts for interest accretion are included in benefits and other changes in policy reserves in the consolidated statements of income. Significant expense category and amounts, which align with segment-level information, as applicable, that is regularly provided to the CODM. Other segment items not considered a significant expense category. Other segment expenses include interest credited and acquisition and operating expenses, net of deferrals, as reported in the consolidated statements of income, excluding gains (losses) on the early extinguishment of debt, expenses related to restructuring and pension plan termination costs, as applicable, and changes in fair value of market risk benefits, excluding the impacts of interest rates, equity markets and associated hedges for our reportable segments. Represents the portion of gross premiums collected from policyholders that is used to fund expected benefit payments. Other segment expenses include interest credited and acquisition and operating expenses, net of deferrals, as reported in the consolidated statements of income, excluding gains (losses) on the early extinguishment of debt and expenses related to restructuring, as applicable, and changes in fair value of market risk benefits, excluding the impacts of interest rates, equity markets and associated hedges for our reportable segments. Represents additional liabilities related to death or other insurance benefits that are recorded within policyholder account balances and are considered long-duration insurance contracts. See note 10 for additional information. Th