Whilestill adverse, development on GenworthFinancial Inc.'s U.S. long-term care business improved in calendar year2015, based on an analysis of annual statutory filings. One-year reservedevelopment totaled $110.1 million in 2015, versus $721.5 million in .

Thisdata comes from the Long-Term Care Experience Reporting forms contained in annualstatutory statements filed with the NAIC. The total reported policy reserve datacan be found in Form 2, while prior-period development can be calculated from Form3. Morespecifically, this analysis uses the Part 4 subsection of Form 3, which shows thepresent value of incurred claims. The goal of Part 4 is to discount paid claims,transferred reserves and claim reserves back to a common point in time, as explainedin the NAIC's instructions for filling out this exhibit.

Overall,Genworth's reported policy reserves were up 9.5% in 2015. This percentage changewas higher than the industry as a whole but still below some of its peers. Likemany within the industry, Genworth has been pushing for rate increases on the business. The company had 35 statefilings, including multiple product filings in an individual state, approved in2015 and another 21 in the first quarter of 2016, according to from an April 29 presentation. Theweighted average rate increase on impacted in-force premium was 29% in 2015 and30% in the first quarter.

One ofthe more interesting findings in the 2015 data was the reserve build at 's U.S.-based subsidiaries.The three subsidiaries that file the long-term care supplement — ,Transamerica Life Insurance Co.and Transamerica Premier Life InsuranceCo. — had a combined $5.94 billion in reported policy reserves as ofDec. 31, 2015, up 17.2% from the prior year.

Of thethree, Transamerica Life accounts for the bulk of the reserves. Adding togetherreserves for individual and group policies, Transamerica Life accounted for 93.1%of the total in 2015. As the data also illustrates, the vast majority of these reservesare on individual business.

TransamericaLife also created the majority of the adverse development on the long-term carebusiness, contributing 84.2% of the $313.2 million total. Based on the loss trianglescontained in the filings, the 2014 accident year was the most problematic, accountingfor 55.7% of Transamerica Life's adverse development.