Exhibit 99.1




Voya Financial Announces Second-Quarter 2017 Results

NEW YORK, Aug. 1, 2017 – Voya Financial, Inc. (NYSE: VOYA) today announced financial results for the second quarter of 2017.



2Q 2017 net income available to common shareholders of $0.89 per diluted share1, which reflects:



A loss of $0.10 per diluted share, after-tax2, in the Closed Block Variable Annuity (CBVA) segment due to 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 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.



2Q 2017 operating earnings2,3 of $0.67 per diluted share, after-tax, which includes:



$0.39 per diluted share, after-tax, of unfavorable deferred acquisition costs and value of business acquired (“DAC/VOBA”) and other intangibles unlocking, which was largely due to changes in terms related to guaranteed minimum interest rate provisions for certain retirement plan contracts with fixed investment options; and



$0.11 per diluted share, after-tax and DAC/VOBA, of prepayment fees and alternative investment income, in aggregate, above the company’s long-term expectations, including a recovery of carried interest reversed in prior periods.



2Q 2017 segment results include:



Retirement net inflows of $280 million, reflecting growth in Corporate and Tax-Exempt markets;



Investment Management net inflows of $1.9 billion (excluding variable annuity outflows);



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



Favorable mortality in Individual Life;



Higher loss ratio in Stop Loss, partially offset by improved results for Voluntary and Group Life; and



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



Total assets under management (AUM) of $301 billion; total AUM and administration of $517 billion as of June 30, 2017.



1  For the three months ended June 30, 2017 and 2016, weighted-average fully diluted common shares outstanding were 187.7 million and 203.5 million, respectively.
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 Tuesday, August 1, 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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