Exhibit 99.1



Voya Financial Announces Fourth-Quarter and Full-Year 2016 Results

NEW YORK, Feb. 8, 2017 – Voya Financial, Inc. (NYSE: VOYA) today announced financial results for the fourth-quarter and full-year 2016.



4Q 2016 net loss available to common shareholders of $2.74 per diluted share1, which reflects:



Closed Block Variable Annuity (CBVA) segment loss of $2.44 per diluted share, after-tax2 – this includes changes in the fair value of guaranteed benefit derivatives related to nonperformance risk, which the company considers a non-economic factor; the CBVA segment, which is in run-off, is supported by a hedge program that is primarily designed to mitigate the impacts of market movements on regulatory and rating agency capital resources, creating an accounting asymmetry with U.S. GAAP financial results.



$0.48 per diluted share, after-tax and DAC/VOBA, of net guaranteed benefit hedging losses primarily due to the timing impact of rising interest rates on embedded derivatives associated with indexed annuity products in the Annuities segment.



4Q 2016 operating earnings2,3 of $0.91 per diluted share, after-tax, which includes:



$0.11 per diluted share, after-tax and DAC/VOBA, of prepayment fee and alternative investment income above the company’s long-term expectations, in aggregate.



$0.06 per diluted share, after-tax and DAC/VOBA, gain resulting from a Lehman Brothers bankruptcy settlement.



4Q 2016 segment results include:



Retirement net inflows of $803 million due to net inflows in all markets.



Investment Management net inflows of $1.5 billion (excluding variable annuity outflows).



Positive inflows for Annuities’ fixed indexed annuity and investment-only products.



Unfavorable mortality in Individual Life driven by higher severity.



Employee Benefits’ Stop Loss and Group Life loss ratios slightly above and below the annual expected range, respectively.



CBVA hedge program continued to protect regulatory and rating agency capital.


1  For the three months ended Dec. 31, 2016 and 2015, weighted-average fully diluted common shares outstanding were 194.6 million and 213.4 million, respectively. For periods in which there is a net loss available to common shareholders, the operating earnings per share calculation includes additional dilutive shares, as the inclusion of these shares for stock compensation plans would not be anti-dilutive to the operating earnings per share calculation. The number of weighted-average diluted shares used for these periods are 197.1 million for the three months ended Dec. 31, 2016 and 216.0 million for the three months ended Dec. 31, 2015.
2  Voya Financial assumes a 32% tax rate on operating earnings and all components of operating earnings described as “after-tax.” A 35% tax rate is applied to all non-operating items, including CBVA results. The 32% tax rate for operating earnings and components reflects the estimated benefit of the dividend received deduction related to the company’s Retirement, Investment Management, Annuities, Individual Life and Employee Benefits segments.
3  Operating earnings and adjusted operating earnings are 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 under the “Use of Non-GAAP Financial Measures” section of this release, and in the “Reconciliations” section of the Quarterly Investor Supplement.



The following information was filed by Voya Financial, Inc. (VOYA) on Wednesday, February 8, 2017 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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