our-story

Our Company

largest
private residential
mortgage insurer
in Canada maple leaf

$6.6 billion

total assets
As at March 31, 2020

$3.4 billion

shareholders' equity
As at March 31, 2020

Our Mission

Working with our lender partners, regulators and influencers we

  • help people responsibly achieve and maintain the dream of homeownership
  • promote strong and sustainable communities across Canada

while enhancing stakeholder value

Our Vision

Canada’s Mortgage Insurer of Choice

Our Values

Our Strengths

handshake

Focus on customer experience & operational excellence

pie chart

Strong market presence

umbrella

Prudent risk management

data

20+ years of performance data

laptop

Best-in-class technology & processes

team

Experienced and engaged workforce

Our Priorities

  • click here to view replay of Investor Day video webcast for an overview of company priorities and strategy for 2019

  • Mortgage Default Insurance, commonly referred to as Mortgage Insurance, allows homebuyers to achieve the dream of homeownership with a low down payment.

    For more info on our mortgage insurance products and benefits, watch the HomeOpeners® video series here.

Our History

The Evolution of the Mortgage Insurance Industry and Genworth Canada
  • 1995: the beginning

    Canada has had an active private mortgage insurance industry since 1964, when MICC commenced operations. In 1995, Genworth Financial (when it operated as part of General Electric) acquired certain assets and hired certain employees from MICC to establish its Canadian private mortgage business. The Company operated as part of General Electric for almost a decade.

  • 2004: Genworth Financial starts trading on NYSE

    General Electric completed an initial public offering of Genworth Financial (NYSE:GNW). Genworth Canada remained an indirect wholly-owned subsidiary of Genworth Financial.

  • 2009: Genworth Canada IPO, starts trading on TSX

    Genworth MI Canada Inc. completed its initial public offering and began trading on the TSX under the “MIC” symbol. Genworth Financial in the United States remains a majority shareholder owning 57.5% of the common shares of Genworth Canada.

As part of the Genworth Canada’s 20th Anniversary celebrations, Canadian mortgage industry executives reflect on homeownership in Canada over the last 20 years and into the future, as well as collaboration within the industry, and memories of their own first-time homebuying experiences.

Key Facts

Focused on Strong Business Execution
market facts

(as of March 31, 2020)

MIC

TSX Ticker Symbol

$2.7 billion

Market Capitalization

172%

MICAT ratio

86 million

Shares Outstanding

$3.4 billion

Shareholder’s Equity

Dividend History ($/share)
200920102011201220132014201520162017201820190.000.150.300.450.60
YearDividends Paid/ShareDividends Paid/ShareDividends Paid/ShareDividends Paid/Share
20090000.22
20100.220.220.220.26
20110.260.260.260.29
20120.290.290.290.32
20130.320.320.320.35
20140.350.350.350.39
20150.390.390.390.42
20160.420.420.420.44
20170.440.440.440.47
20180.470.470.470.51
20190.510.510.510.54
20200.54000

Genworth Canada has been paying a regular dividend every quarter since its first payment post IPO in December 2009.

Strong Financial Track Record
Net Premiums Written

($ in millions)

02505007501,0002018201720162015201420132012$639$663$760$809$640$512$550
Year$ in millions
2018639
2017663
2016760
2015809
2014640
2013512
2012550
Net Premiums Earned

($ in millions)

02004006008002018201720162015201420132012$680$676$638$586$565$573$589
Year$ in millions
2018680
2017676
2016638
2015586
2014565
2013573
2012589
Loss Ratio

(%)

010203040201820172016201520142013201215%10%22%21%20%25%33%
YearPercent
201815
201710
201622
201521
201420
201325
201233
Book Value
Per Share
(diluted, incl. AOCI)

($/share)

0.012.525.037.550.02018201720162015201420132012$44.6$43.13$39.28$36.82$35.02$32.53$30.62
Year$/share
201844.6
201743.13
201639.28
201536.82
201435.02
201332.53
201230.62
Net Operating Income

($ in millions)

0150300450600201820172016201520142013*2012$474$467$388$375$366$349$339
Year$ in millions
2018474
2017467
2016388
2015375
2014366
2013349
*2012339

All currencies are in Canadian dollars.

Credit Ratings

Genworth MI Canada Inc.
S&P Issuer Rating

BBB+, Negative

DBRS Issuer Rating

A (high), Negative

Genworth Mortgage
Insurance Company
S&P Financial Strength Rating

A+, Negative

DBRS Financial
Strength Rating

AA, Negative

Investment Portfolio
info

(as of December 31, 2019)

Investment GradeCorporatesProvincialsFederalsCash & OtherEmerging MarketsDebtPreferred Shares34%12%8%8%33%
InvestmentBillion
Investment Grade Corporates2.124
Provincials0.767
Federals1.939
Cash & Other0.236
Emerging Markets Debt0.413
Preferred Shares0.472
Total $6.4 billion
Media Contact
Susan Carter
Susan
Carter

Vice President,
Marketing & Communications
905.287.5520
susan.carter@genworth.com

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View full 2019

ANNUAL REPORT

News Releases

Latest Presentation
August 6, 2020 Q2 2020 Earnings Conference Call Slides
View this Presentation (PDF 748 KB)

Stock Quote

  • TSX
  • MIC
  • Price
  • Cours
  • 44.00
  • Change (%)
  • Variation (%)
  • -0.18 (-0.41%)
  • Volume
  • 1,809,685
October 27, 2020 - 4:00 PM ET Note: Minimum 20 minute delay