Genworth Financial Inc. announced that it will expand its Life Quick Request(SM) (LQR) platform to include its soon-to-be-released index universal life insurance (IUL) product, making it the only IUL product in the industry available on a comprehensive front-to-back electronic platform that features electronic ticket drop, fulfillment and policy delivery. Genworth's Life Quick Request significantly streamlines the life insurance application and fulfillment cycle, cutting processing times in half -- to 13 days for term life insurance cases and 16 days for universal life cases. Life Quick Request can also increase placement rate by up to 8%. To complement its LQR platform, Genworth recently launched ePolicy Delivery and check image deposit. ePolicy Delivery is an electronic policy delivery workflow for life insurance products, which during the pilot period reduced delivery cycle times from 25 days to an average of eight days and, in some cases, a matter of hours.

Annual Meeting of Stockholders

Genworth Financial Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income of $103 million or $0.21 per diluted share compared with net income of $46 million or $0.09 per diluted share in the first quarter of 2012. Net operating income was $151 million or $0.30 per diluted share compared with net operating income of $17 million or $0.03 per diluted share, in the first quarter of 2012. Book value per share was $32.90 against $29.89 a year ago. Total revenues were $2,303 million against $2,315 million a year ago. Income from continuing operations before income taxes was $237 million against $82 million a year ago. Income from continuing operations was $161 million against $67 million a year ago. Basic and diluted income from continuing operations available to company's common stockholders was $0.25 against $0.07 a year ago. The company still expects that annual overall earnings will increase in 2013 over 2012 as U.S. Mortgage Insurance business recovery continues. Assuming no significant deterioration in the U.S. housing market or material economic downturns, overall performance in U.S. MI should be much improved over 2012, given the 2009 and the forward books of business should comprise 40% to 45% of the risk in force by the end of the year. International Mortgage Insurance earnings should be generally stable as those businesses operate in steady economic environments with quality portfolios and continue to maintain margins. While the U.S. Life Insurance Division faces headwinds, such as the low interest rate environment, it is taking actions should improve performance in future years, such as the long-term care insurance rate actions and the rollout of a new long-term care and life insurance products. After adjusting for last year's life block transactions, the company expects that overall U.S. Life Insurance Division earnings in 2013 will be comparable to those of 2012. Finally, the company expects that the Corporate and Other division quarterly results for the remainder of this year should be down slightly from the first quarter results, given the good equity market performance saw in the quarter.