Thank you, Tom. Good morning, everyone. In the first quarter we continue to build on the strong foundation we created in 2021 and enhanced our financial flexibility. We had solid earnings in the quarter and positive cash flows that enabled us to repurchase a portion of our 2024 debt maturities, bringing us closer to our $1 billion debt target. In recognition of our significant debt reduction over the past year, and improve risk profile, we received three ratings upgrades with the most recent March from S&P Global ratings. Our businesses are well capitalized with an estimated PMIER sufficiency ratio for Enact of 176% and estimated RBC ratio for the life companies of 296% at March 31. Holding Company cash was more than $100 million above our cash target of two times annual debt service at the end of the quarter. I'm tremendously pleased with our progress and how we transformed and reposition the business following the announcement of our five strategic priorities last year. Now that we have a clear path to achieving our debt target, and generating meaningful excess cash flows, we're well positioned to return capital to shareholders, an important priority for Genworth. I will discuss our capital allocation strategy, after reviewing our first quarter financial results and drivers. As Tom indicated earlier, the first quarter served as a strong start to the year as shown on slide four of the investor presentation with net income of $149 million and adjusted operating income was $131 million or $0.25 per share. In the prior quarter, we had net income of $163 million and adjusted operating income of $164 million or $0.32 per share. Results in the current quarter reflect adjusted operating income of $135 million from Enact, and $9 million from our runoff segments partially offset by adjusted operating losses of $4 million from the U.S. life insurance segment, and $9 million from corporate and other. In the first quarter of this year, we saw a meaningful rise in interest rates. In the short term, our investment results will be pressured by lower bond calls and commercial mortgage loan pre payments. However, over the medium term, portfolio yields will benefit as we're able to reinvest new money at higher rates. In summary, higher rates are positive for our U.S. life insurance business. However, they will not have a significant immediate impact to earnings. For Enact, rising rates will cause a decline in refinancing activity, which we've seen evidence of this quarter. However, there is the offsetting benefit of higher persistency. The recent books Enact has written are high credit quality books, with an average FICO of 745 and loan to value of 92%. Higher persistency along with new insurance written will drive insurance in-force growth. While there are inflationary concerns and rising economic uncertainties, the overall demographics for first time homebuyers are expected to remain strong. We continue to see low unemployment rates, a strong U.S. consumer and low housing inventory. We believe home price appreciation will moderate as the Federal Reserve raises rates, offsetting some of the affordability pressure caused by the increase in rates. It's important to remember that while interest rates are higher now than they've been in the last few years, they remain historically low. Shifting to our business specific results, I'll begin with Enact. Given that Enact hosted its earnings call earlier this morning, and provided a thorough update I will focus on the key highlights. As shown on slide four, Enact’s adjusted operating income to Genworth was $135 million, an increase of 8% from the fourth quarter. Turning to slide five insurance in-force increased 10% year-over-year to $232 billion driven by strong new insurance written and higher persistency from the rise of interest rates. Moving to slide six, current quarter results reflected a favorable $50 million pre-tax reserve release, which drove a negative loss ratio of 4%. The reserve release was predominantly related to 2020 COVID-19 delinquencies and improved Enact’s loss ratio by 21 points. The PMIER sufficiency ratio of 176% or approximately $2.3 billion above published requirements was driven by strong business results, combined with the completion of an excess of loss reinsurance transaction, which added $312 million of additional PMIERs capital credit. Enact executed an additional reinsurance transaction in the quarter covering 2022 production, which is expected to provide up to $294 million of reinsurance coverage, and will provide additional PMIER’s credit throughout the year. Reinsurance transactions are a key part of Enact’s credit risk transfer program to provide cost effective capital and reduce loss volatility. We're very pleased with Enact’s continued strong performance in the first quarter, and the announcement of their quarterly dividend. The $0.14 per share dividend beginning in the second quarter will generate approximately $19 million to Genworth on a quarterly basis. The quarterly dividend announcement along with a potential special dividend from Enact later this year will continue to strengthen our holding company balance sheet. I will now cover U.S. Life insurance segment results starting on slide seven. The segment reported an adjusted operating loss of $4 million, reflecting an operating loss of $79 million in life, partially offset by operating income of $59 million from LTC and $16 million from fixed annuities. In our LTC insurance business, adjusted operating income was $59 million, compared to $190 million in the prior quarter and $95 million in the prior year. The LTC earnings was strong in the quarter, but negatively impacted versus the prior quarter from the significant decline in variable investment income, which is not subject to profits followed by losses. As a reminder, we had expected variable investment income to moderate from recent highs. The pre-tax balance of our GAAP only profits followed by losses reserve, which covers projected losses in the future increased by approximately $200 million pre-tax to approximately $1.5 billion, reflecting the strong LTC results on the quarter. As slide eight illustrates, new claim incidence remains low and active play mortality remains elevated when compared to pre-pandemic levels. However, our experience continues to trend back to its historic levels. Claimed terminations in the first quarter were higher than the prior quarter and lower than the prior year. As a result, we reduced our previously established COVID-19 mortality reserve by $9 million pre-tax in the quarter, decreasing the balance $225 million, LTC claim mortality remained elevated consistent with nationwide COVID-19 mortality trends and reflected the surge of the Omicron variant as well as seasonal mortality patterns of experiencing high mortality in the first quarter. We generally expect LTC mortality to return to a more normalized level throughout the year. New active claims are higher than the prior year, but new claims incidents experience remains below pre-pandemic levels driving favorable incurred but not reported, or IBNR claim reserve development. Given the increase in incidents, we reduced our COVID-19 IBNR claim reserve by $29 million pre-tax, resulting in a balance of $46 million. Pending claims which are a leading indicator of future claims incidents have returned to pre-pandemic levels. New claims have already increased primarily reflecting the aging of our new blocks of business, which tend to have higher inflation coverage and higher daily benefit amounts than the older blocks. As Tom mentioned, and illustrated on slides nine and 10 of the investor presentation, we continue to make significant progress in addressing risk and our legacy portfolio through the multiyear rate action plan. During the quarter we received LTC in-force rate action approvals, impacting approximately $354 million of premiums with a weighted average approval rate of 29%. The resulting $101 million in annual premium rate increases approved in the first quarter brings the total net present value from achieved LTC rate actions to $20.4 billion since 2012, up approximately $800 million since year-end. As shown on slide nine, the first quarter adjusted operating earnings from in-force rate actions of $304 million after tax includes a favorable impact related to the Choice 1 legal settlement. As of the end of the quarter, approximately 95% of the settlement class had reached the end of the election period. We anticipate a positive benefit to earnings from similar pending settlements, which impact approximately 50% of our LTC in-force policies. Subject to and based on the timing of court approval, these two additional settlements are expected to be implemented beginning in the second half of this year and throughout 2023. The success of the multiyear rate action plan has strengthened our ability to pay LTC claims in several ways. First, there's the increased recurring premium revenue. Second, in connection with approved rate actions, and the outcomes of the recent legal settlements we've managed long term exposure by offering reductions in certain generous product features, such as lifetime benefits and compound inflation riders. We see more policyholders electing benefit reductions, as indicated on slide 11, with 45%, selecting reduced benefit or non-forfeiture options, which reduces our long term tail risk. As a result of these increased take rates, and normal block runoff we saw lower renewal premiums in the current quarter versus the prior year. Turning to slide 12 in our life insurance product, we reported an adjusted operating loss of $79 million, compared to operating losses of $98 million in the prior quarter and $63 million in the prior year. Adverse mortality was a key driver of the loss in the quarter. COVID-19 mortality accounted for $26 million of the loss based on death certificates received to date. While mortality is seasonally higher in the first quarter, we continue to experience excess mortality beyond COVID-19. Some of this excess mortality is likely attributable to indirect impacts of the pandemic, such as lack of preventative care, and stress induced mortality, particularly for younger age groups. Others in the life insurance industry have observed similar excess mortality during the pandemic. As a reminder, while we did update our long term mortality assumption in the fourth quarter of 2021, the update was based on pre-pandemic experience. It was not intended to account for the pandemic related mortality we are currently experiencing. Due to the unfavorable light mortality experience and block runoff in the quarter, we recorded a $90 million after tax charge for DAC recoverability testing compared to $32 million in the prior quarter, and $17 million in the prior year. We also accrued $20 million after tax related to an agreement in principle to settle a class action lawsuit on a universal life insurance products. In fixed annuities, adjusted operating income was $16 million compared to $20 million in the prior quarter, reflecting the impact of lower net spreads from a decrease in bond calls and commercial mortgage loan pre payments and continued block runoff. In the runoff segment, our adjusted operating income was $9 million for the first quarter compared to $16 million in the prior quarter, and $12 million in the prior year. Variable annuity performance was adversely impacted in the quarter by unfavorable equity market performance. As shown on slide 13, were estimating the consolidated risk based capital ratio for Genworth Life Insurance Company or GLIC, to be 296% at March 31, an improvement from 289% at December 31. The increase reflects strong performance in long term care partially offset by continued to elevated mortality and life insurance. We expect GLIC consolidated quarter in capital and surplus in excess of $3 billion up from $2.9 billion at year-end 2021 reflecting strong statutory results in the quarter. As also evidenced by slide 13, the statutory balance sheet of the U.S. Life companies has strengthened over time, with significant improvements in the capital and surplus amounts and unassigned surplus. The continued successful execution of a multiyear rate action plan is a critical component of the U.S. Life Company's ability to fulfil the long term commitments to our policyholders. While there is still progress to be made, our rate action strategy is key to achieving economic breakeven and the legacy LTC block. Turning to the holding company on slide 14, we ended the quarter with $250 million of cash and liquid assets. Key cash activity included an inflow of $64 million from intercompany tax payments through the continued utilization of corporate tax assets and outflows of $82 million for debt reduction, and a $30 million payment to AXA, related to recently process claims. As a reminder, we retired the AXA promissory note in September 2021. But there were a limited amount of unprocessed claims remaining. This payment to AXA effectively retires this liability. We anticipate that the holding company will receive approximately $200 million to $250 million from net intercompany tax payments this year, subject to ultimate taxable income generated. Given our current tax position, we do not anticipate paying federal taxes in the near term. Finally, I'll outline our capital priorities, which will help guide our capital allocation decisions to support the strategy Tom outlined. For us reaching our target debt level remains a top priority as we've continuously demonstrated. We plan to retire the remaining debt due in 2024 of approximately $200 million in the third quarter of this year. After that, we will have approximately $900 million in debt outstanding, achieving our target and bringing our consolidated leverage ratio below most of our peers. Achieving our debt target has multiple benefits for our shareholders. First, based on the expected cash flows from Enact’s regular quarterly dividends, we will have approximately two times coverage on our debt service costs of $40 million per year and no principal due until 2034. Second, currently there are more stringent capital requirements placed on Enact by the government sponsored enterprises or GSEs. Following Genworth plan 2024 debt paydown, we would expect the removal of these restrictions with our fourth quarter results. We view this as a positive for Genworth shareholders as the majority owners of Enact. With our debt below our target, we will evaluate the best use of our excess cash flows to maximize value to our shareholders, which will include investments in future growth and returning capital to shareholders in the form of buybacks and dividends. As evidenced by our board's authorization of a $350 million share repurchase program, we view returning capital to shareholders as a key priority. At today's trading levels, we believe our stock price is trading below intrinsic value, and that share repurchases would be an effective way to capitalize on that disconnect, while returning value to Genworth shareholders. We intend to execute the buyback program opportunistically as we continue to generate excess cash flow. In closing, we had a solid quarter led by the performance of Enact and long term care, as well as lower debt service costs as a result of our improved financial position. I'm pleased with the progress made to improve our financial strength and flexibility. I'm even more pleased to be achieving our debt target level and generating excess cash flow, which will allow us to invest in our future and begin returning capital to shareholders. This progress demonstrates the confidence we have in our future. We look forward to updating you on our progress as we execute against the strategy. With that, we'll open it up for questions.
