Long-Term Care (LTC) Insurance Underperformance: Genworth's significant LTC insurance business faces ongoing challenges including lower-than-expected investment returns, higher-than-expected claims, and difficulties in obtaining regulatory approval for rate increases, which could lead to further reserve strengthening or financial strain.

Mortgage Insurance Market Sensitivity: The profitability of Genworth's U.S. mortgage insurance business (Enact Holdings) is highly dependent on housing market conditions, interest rates, employment levels, and the overall economic environment, making it susceptible to downturns.

Interest Rate Environment Impact: As an insurer, Genworth's investment portfolio performance and the profitability of its long-duration liabilities, particularly LTC, are significantly sensitive to fluctuations in interest rates, with sustained low rates negatively impacting investment income and required reserves.