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Genworth Financial Announces Two Key Appointments Within Its Mortgage Insurance Segment

RICHMOND, Va., Nov 9, 2004 /PRNewswire-FirstCall via COMTEX/ -- Genworth Financial (NYSE: GNW) today announced two key appointments in its Mortgage Insurance segment. Richard Izen has joined the company as Vice President, National Field Sales, East Division, and Craig Rief has been named Vice President -- Government Agency Business Development.

Izen returns to a business where he was Vice President, Corporate Sales from 1994 to 1998 for GE Mortgage Insurance, which is now part of Genworth Financial. He joins a team of seasoned mortgage insurance industry sales professionals with whom he has worked closely in the past, including Ed Connors, Vice President, National Field Sales, West Division and Jean Bradley, Vice President, Corporate Accounts.

Rief, who has led the development of Genworth Financial's HomeOpeners program, a new suite of mortgage insurance products since 2003, will lead the commercialization of products and services for federal and state agencies. Rief will relocate to Genworth Financial's new Washington, DC office to further strengthen the company's presence and relationship with Fannie Mae and Freddie Mac, the two government-sponsored housing enterprises, as well as with the 50 state Housing Finance Agencies.

"It's great to have Rich Izen back with us at mortgage insurance, and to have Craig Rief working full time with federal and state agencies on both product and sales growth initiatives," said Kevin Schneider, President of Genworth Financial's U.S. mortgage insurance business. "Their industry knowledge and experience will be a real asset to our customers as we work with them to provide the products and services they need even faster and more effectively."

Prior to joining Genworth Financial, Izen was Vice President of Sales for Active International, a global trading company that provides trade finance services and professional expertise. He began his career in the mortgage insurance industry in 1983 as an account executive with Verex Assurance. He joined GE Capital Mortgage Insurance in 1987 as an account executive, and subsequently served as the company's Business Development Manager and Sales Manager before becoming Vice President of Sales in 1994.

From 1996 to 2001, Rief led various strategic mortgage initiatives within GE Mortgage Insurance and outside the company at Homestore, Inc. Most recently, Rief's team won a $900 million bid from the State of New York (SONYMA) and an exclusive cooperative marketing arrangement with the West Virginia Housing Development Fund.

Genworth Financial's mortgage insurance business, headquartered in Raleigh, North Carolina, is the international leader in the field. It has operations in the United States, Canada, Australia and Europe. Private mortgage insurance enables people to realize their dreams of homeownership sooner by making mortgages with low down payments possible. It protects lenders or investors against loss if a borrower stops making mortgage payments, and is generally required for all loans with less than a 20% down payment.

Genworth Financial is a leading insurance holding company serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers in 20 countries, including the U.S., Canada, Australia, and more than a dozen European countries. For more information, visit http://www.genworth.com.

SOURCE Genworth Financial

Terry Souers, Vice President, Public Relations, Mortgage
Insurance of Genworth Financial, +1-919-846-4459 or
terry.souers@genworth.com

http://www.genworth.com