Exhibit 99.1



Voya Financial Announces First-Quarter 2017 Results

NEW YORK, May 3, 2017 – Voya Financial, Inc. (NYSE: VOYA) today announced financial results for the first quarter of 2017.



1Q 2017 net loss available to common shareholders of $0.75 per diluted share1, which reflects:



A loss of $1.31 per diluted share, after-tax2, in the Closed Block Variable Annuity (CBVA) segment - the CBVA segment, which is in run-off and not included in operating earnings, 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.



The 1Q 2017 CBVA loss was due to changes in the fair value of guaranteed benefit derivatives related to nonperformance risk, which the company considers a non-economic factor, and a loss associated with an enhanced surrender value offer to repurchase certain variable annuity contracts.



1Q 2017 operating earnings2,3 of $0.81 per diluted share, after-tax, which includes:



$0.04 per diluted share, after-tax, of positive deferred acquisition costs and value of business acquired (“DAC/VOBA”) and other intangibles unlocking; and



$0.03 per diluted share, after-tax and DAC/VOBA, of prepayment fees and alternative investment income, in aggregate, above the company’s long-term expectations.



1Q 2017 segment results include:



Retirement net flows of $610 million driven by Corporate markets;



Investment Management net inflows of $262 million (excluding variable annuity outflows);



Positive net flows in Annuities for fixed indexed annuities and investment-only products;



Unfavorable mortality in Individual Life;



Employee Benefits’ Stop Loss and Group Life loss ratios slightly above the annual expected range; and



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



Total assets under management (AUM) of $294 billion; total AUM and administration of $505 billion as of March 31, 2017.



1  For the three months ended March 31, 2017 and 2016, weighted-average fully diluted common shares outstanding were 191.7 million and 209.1 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 the three months ended March 31, 2017 was 194.4 million.
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, May 3, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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