* Q1 net loss $469 million v profit of $116 million
* Operating income $0.03 per shr misses Wall St view
* Plans IPO of part of Canadian mortgage insurance biz
* Shares down 15 pct after report (Adds financial details, updates shares)
NEW YORK, May 7 (Reuters) - U.S. life and mortgage insurer Genworth Financial (GNW.N) said on Thursday it posted a net loss in the first quarter, hurt by investment losses.
The Richmond, Virginia-based company's net loss was $469 million, or $1.08 a share, compared with a profit of $116 million, or 27 cents a share, in the year-ago period.
The result included net investment losses of $483 million.
Net operating income, excluding investment gains or losses, was 3 cents a share in the first quarter compared with analysts' expectations for 23 cents a share, according to Reuters Estimates.
Genworth also said it planned to sell up to 49 percent of its ownership interest in a Canadian mortgage insurance business through an initial public offering.
Shares, which closed up 20.5 percent at $4.59 in the regular session of the New York Stock Exchange fell 15 percent after the report. (Reporting by Lilla Zuill)