Exhibit 99.1

NEW YORK, February 11, 2015

Voya Financial Announces Fourth Quarter and Full Year 2014 Results

Full Year 2014 Ongoing Business Adjusted Operating Return on Equity of 12.1%

New Ongoing Business Adjusted Operating Return on Equity Run-Rate Target of 13% to 14% for 2018 Established; Incremental Strategic Investments of $300 Million to $350 Million Over the Next Four Years Planned to Develop Next Generation Customer Experiences and Solutions

Board of Directors Authorizes an Additional $750 Million of Share Repurchases

Voya Financial, Inc. (NYSE: VOYA) today reported financial results for the fourth quarter and full year 2014:

 

   

Fourth quarter 2014 after-tax operating earnings1,2 of $245 million, or $0.99 per diluted share, compared with $198 million, or $0.75 per diluted share in the fourth quarter of 20133. The following items primarily accounted for this change:

 

   

$45 million, after-tax, of higher adjusted operating earnings from the Ongoing Business driven by strong results in Retirement, Annuities, Individual Life, and Employee Benefits;

 

   

A $13 million after-tax gain on a reinsurance recapture in the fourth quarter of 2014 while the fourth quarter of 2013 had a $6 million after-tax net gain related to a Lehman Brothers bankruptcy settlement and the disposal of low-income housing tax credit (LIHTC) partnerships; and

 

   

$6 million, after-tax, of positive DAC/VOBA and other intangibles unlocking in the fourth quarter of 2014, compared with $15 million, after-tax, of positive DAC/VOBA and other intangibles unlocking in the fourth quarter of 2013.

 

1 

Voya Financial assumes a 35% tax rate on items described as “after-tax.” The 35% tax rate does not reflect the fourth quarter 2014 actual tax benefit of $1,826 million, including the benefit from recognizing certain deferred tax assets. Net income (loss) available to common shareholders reflects the actual effective tax rate.

2 

Operating earnings, Ongoing Business operating earnings, and Ongoing Business adjusted operating earnings are each non-GAAP financial measures; information regarding the non-GAAP financial measures included in this press release, and reconciliations to the most comparable U.S. GAAP measures, are provided in the tables that accompany this release and in the Quarterly Investor Supplement.

3  For the three months ended December 31, 2014 and 2013, weighted-average fully diluted common shares outstanding were 246.4 million and 263.3 million, respectively.

 

1


The following information was filed by Voya Financial, Inc. (VOYA) on Wednesday, February 11, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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