Genworth Life & Annuity Insurance 8-K Other Events

Exhibit 99.3

FIRST COLONY LIFE INSURANCE COMPANY

Statutory Statements of Admitted Assets, Liabilities and Capital and Surplus

(Amounts in millions, except per share amounts)

(Unaudited)

	As of June 30, 2006
Admitted Assets
Investments:
Bonds	$	4,916.2
Preferred stocks		5.0
Common stocks - affiliates		219.6
Common stocks - nonaffiliates		0.6
Mortgage loans		1,435.1
Real estate		38.7
Policy loans		259.0
Cash and short-term investments		57.4
Other invested assets		50.4
Receivable for securities		2.8
Total cash and invested assets		6,984.8
Reinsurance ceded		16.3
Federal income tax recoverable		136.2
Deferred income taxes		49.1
Guaranty association assessments		0.9
Premiums and accounts receivable		47.3
Investment income due and accrued		69.4
Receivable from parent, subsidiaries, and affiliates		6.6
Other amounts receivable under reinsurance contracts		49.7
Funds held by or deposited with reinsured companies		1,244.5
Other assets		3.3
Total admitted assets	$	8,608.1
Liabilities and Capital and Surplus
Liabilities:
Aggregate reserves - life and annuity contracts	$	5,197.4
Aggregate reserves - accident and health policies		0.9
Liability for deposit-type contracts		2,032.3
Liability for policy and contract claims		47.7
Premiums and annuity considerations received in advance		8.7
Other amounts payable on reinsurance		49.1
Interest maintenance reserve		103.6
Commissions payable		16.4
General expenses due and accrued		21.8
Taxes, licenses and fees due and accrued		4.6
Unearned investment income		8.2
Amount withheld or retained by company as agent or trustee		3.3
Remittances and items not allocated		36.8
Liability for benefits for employees		0.2
Borrowed money		—
Asset valuation reserve		68.0
Payable to parent, subsidiary and affiliates		14.7
Funds held under reinsurance treaties with unauthorized reinsurers		66.0
Other liabilities		12.3
Total liabilities		7,692.0
Capital and surplus:
Common stock, Class A ($1 par value. Authorized 10,000,000 shares; issued and outstanding 4,000,000 shares)		4.0
Paid-in surplus		54.7
Unassigned surplus		857.4
Total capital and surplus		916.1
Total liabilities and capital and surplus	$	8,608.1

These quarterly financial statements should be read in conjunction with the audited statutory financial statements and related notes of First Colony Life Insurance Company (“FCL”) for the years ended December 31, 2005 and 2004.

FIRST COLONY LIFE INSURANCE COMPANY

Statutory Statements of Summary of Operations

(Amounts in millions)

(Unaudited)

	Six months ended June 30,
	2006			2005
Revenues:
Premiums and annuity considerations	$	470.6		$	422.3
Considerations for supplementary contracts with life contingencies		0.5			1.3
Investment income		217.2			243.3
Amortization of interest maintenance reserve		5.7			5.6
Commission and expense allowances on reinsurance ceded		121.1			71.9
Reserve adjustment on reinsurance ceded		(66.8	)		6.2
Other		23.9			1.2
Total revenues		772.2			751.8
Benefits:
Death benefits		138.0			139.8
Annuity benefits		151.4			132.0
Disabilitiy benefits and benefits under accident and health policies		0.7			0.6
Surrender benefits and other fund withdrawals		72.2			62.3
Interest and adjustments on policy or deposit-type contract funds		40.7			20.1
Payments on supplementary contracts with life contingencies		0.7			0.5
Change in aggregate reserves - life, annuity and accident and health		(132.2	)		148.4
Total benefits		271.5			503.7
Expenses:
Commissions		146.6			116.6
General insurance expenses		109.1			90.2
Insurance taxes, licenses and fees		16.5			17.8
Increase in loading on deferred and uncollected premiums		7.9			13.1
Total expenses		280.1			237.7
Total benefits and expenses		551.6			741.4
Income before federal income taxes and realized capital gains		220.6			10.4
Federal income tax benefit		(16.8	)		(63.6	)
Income before realized capital gains		237.4			74.0
Realized capital gains, net		3.7			1.3
Net income	$	241.1		$	75.3

These quarterly financial statements should be read in conjunction with the audited statutory financial statements and related notes of First Colony Life Insurance Company (“FCL”) for the years ended December 31, 2005 and 2004.

Note 1

In January 2006, FCL contributed cash and securities with a value of $139.8 million as additional paid-in capital to River Lake Insurance Company III (“River Lake III”), a wholly-owned subsidiary. Effective January 1, 2006, FCL ceded certain term life insurance business to River Lake III. As a result of this transaction, the impact on FCL’s net income and capital and surplus was an increase of $422.2 million and $282.4 million, respectively. River Lake III issued $750.0 million in surplus notes to third party investors.

Additionally, FCL entered into separate agreements with a third party guarantor for the benefit of River Lake III. The agreements, among other things, obligate FCL (subject to certain exclusions) to indemnify and hold harmless River Lake III and certain third parties from and against any and all claims, liabilities, losses, costs and expenses and damages that may be incurred by or asserted against River Lake III and certain third parties by any party relating to or arising out of the transactions contemplated by the reinsurance agreement between FCL and River Lake III, or certain related agreements, to the extent that such losses, claims, liabilities, expenses or damages resulted from River Lake III’s failure to make any payment required to be made by it to any party under any such agreement, but excluding any payments of premiums, fees and expenses to be made in the ordinary course, and payments of principal and interest on the surplus notes issued by River Lake III.

In April 2006, FCL recaptured universal life business that it had previously ceded to an unaffiliated insurance company. As a result of the recapture, the impact on FCL’s net income and capital and surplus was a net decrease of $65.6 million and $92.7 million, respectively.

FCL is contemplating the execution of a capital management strategy for its universal life business.

FIRST COLONY LIFE INSURANCE COMPANY

Statutory Statements of Changes in Capital and Surplus

(Amounts in millions)

(Unaudited)

	Common stock		Paid-in surplus		Unassigned surplus			Total
Balances as of December 31, 2004	$	4.0	$	54.7	$	878.0		$	936.7
Net income		—		—		75.3			75.3
Change in net unrealized capital gains (losses)		—		—		0.1			0.1
Change in net deferred income tax		—		—		27.8			27.8
Change in nonadmitted assets		—		—		(31.1	)		(31.1	)
Change in liability for reinsurance in unauthorized companies		—		—		(70.0	)		(70.0	)
Change in asset valuation reserve		—		—		(1.3	)		(1.3	)
Change in surplus as a result of reinsurance		—		—		(2.3	)		(2.3	)
Dividend to stockholders		—		—		(91.0	)		(91.0	)
Balances as of June 30, 2005	$	4.0	$	54.7	$	785.5		$	844.2
	Common stock		Paid-in surplus		Unassigned surplus			Total
Balances as of December 31, 2005	$	4.0	$	54.7	$	767.1		$	825.8
Net income		—		—		241.1			241.1
Change in net unrealized capital gains (losses)		—		—		(141.6	)		(141.6	)
Change in net deferred income tax		—		—		(35.0	)		(35.0	)
Change in nonadmitted assets		—		—		39.4			39.4
Change in liability for reinsurance in unauthorized companies		—		—		7.1			7.1
Change in asset valuation reserve		—		—		6.7			6.7
Change in surplus as a result of reinsurance		—		—		(27.4	)		(27.4	)
Balances as of June 30, 2006	$	4.0	$	54.7	$	857.4		$	916.1

These quarterly financial statements should be read in conjunction with the audited statutory financial statements and related notes of First Colony Life Insurance Company (“FCL”) for the years ended December 31, 2005 and 2004.

FIRST COLONY LIFE INSURANCE COMPANY

Statutory Statements of Cash Flows

(Amounts in millions)

(Unaudited)

	Six months ended June 30,
	2006			2005
Cash from operations:
Premiums collected net of reinsurance	$	486.0		$	458.0
Net investment income		215.2			246.8
Miscellaneous income		145.0			126.6
Total		846.2			831.4
Benefit and loss related payments		293.2			399.3
Commissions, expenses paid, and aggregate write-ins for deductions		288.3			231.4
Federal and foreign income taxes paid (recovered)		(10.0	)		—
Total		571.5			630.7
Net cash provided by operations		274.7			200.7
Cash from investments:
Proceeds from investments sold, matured, or repaid:
Bonds		349.9			662.5
Stocks		3.9			3.1
Mortgage loans		103.1			72.7
Other invested assets		9.3			10.7
Miscellaneous proceeds		2.7			5.5
Total investment proceeds		468.9			754.5
Cost of investments acquired (long-term only):
Bonds		232.4			683.4
Stocks		142.2			1.2
Mortgage loans		100.0			171.5
Real estate		0.1			—
Other invested assets		8.1			0.1
Miscellaneous applications		—			31.5
Total investment acquired		482.8			887.7
Net change in policy loans and premium notes		(0.9	)		(1.0	)
Net cash applied to investments		(13.0	)		(132.2	)
Cash from financing and miscellaneous sources:
Cash provided (applied):
Borrowed funds received
Net deposits on deposit-type contracts and other insurance liabilities		(114.3	)		(49.3	)
Dividend to stockholders		—			(91.0	)
Other cash applied		(87.9	)		(56.2	)
Net cash applied to financing and miscellaneous sources		(202.2	)		(196.5	)
Reconciliation of cash and short-term investments:
Net change in cash and short-term investments		59.5			(128.0	)
Cash and short-term investments at beginning of period		(2.1	)		141.6
Cash and short-term investments at end of period	$	57.4		$	13.6

These quarterly financial statements should be read in conjunction with the audited statutory financial statements and related notes of First Colony Life Insurance Company (“FCL”) for the years ended December 31, 2005 and 2004.