Changing
the way
you think of retirement
Annual Report 2014
At Voya Financial, we focus on asset accumulation, asset protection and asset distribution needs, which form the core of our value proposition and are what we believe is needed to help Americans become retirement ready.
A Message from
Chairman and CEO
Rodney O. Martin, Jr.
$524billion
in assets under management
and administration¹
1 As of December 31, 2014
13million
customers¹
1 As of December 31, 2014
225,000
points of distribution¹
1 As of December 31, 2014
6,500
employees¹
1 As of December 31, 2014
As a company,
we’ve grown.
At Voya Financial,® we believe retirement readiness is both emotional and financial. So we say, let’s change things up. Let’s give people the tools and resources they need. Let’s help our customers take actions that give them confidence.
In just a few years, Voya Financial has shown what’s possible with a clear plan and a commitment to execution. We’re changing what people think a retirement company should be. And we see even more opportunities to keep that momentum going.
Our vision is to be America’s Retirement Company.™ We know that’s bold and we know it’s ambitious. Our employees stand ready to make this vision a reality by helping all Americans — one person, one family, one institution at a time.
Planning
+
Action =
Retirement Ready
We know that being retirement ready is not just about products and it’s not just about savings. It’s about taking steps that lead to feelings of confidence, optimism and excitement about the future. That’s why our guiding principle is retirement readiness. Voya Financial is dedicated to helping Americans become financially and emotionally ready for retirement by providing our customers with quality asset accumulation, asset protection and asset distribution products and services, plus guidance and advice.
Accumulate
Take steps - individually or through the workplace - to save for retirement.
Protect
Ensure your earning potential and your family’s financial future are secure.
Distribute
Identify ways to turn your savings into income in retirement.
Vision
+
Execution =
Value Creation
Four years ago, we set a new course — one that would enable us to become an independent company focused on delivering greater value for both our customers and our shareholders. Since then, we’ve been committed to executing on a plan to do just that, generating strong results along the way. We have improved value by positioning our businesses to achieve greater profitability and better returns.
Now, we are focused on continuing our momentum, raising the bar and taking further steps to achieve our vision to be America’s Retirement Company. We’re investing for the future because we see great opportunities to grow our businesses.
More than 30
margin, growth and capital initiatives that have led to improved
returns.
A cultural transformation
that has focused on bottom-line results and continuous improvement.
A stronger financial
profile to support our improvement efforts and our focus on profitable growth.
Commitment
+
Investments =
Raising the Bar
With a focus on building a new kind of financial company, we are committed to helping all Americans with their retirement readiness needs. We are investing in our people, investing in our businesses and investing in our communities. We believe that a commitment to a plan with the right energy and resources behind it can produce strong results; it can raise the bar in terms of what people have come to expect from a retirement company. We’re practical about what is needed to achieve our goals, but we’re also very optimistic about what we can do for our customers — whether they be large institutions, small businesses or individuals.
6,500
Committed to putting the power of our approximately 6,500 employees to work to drive our plans forward.
Digital
Investing in new digital tools and other resources that can build confidence and help our customers achieve their goals.
Case study
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America’s
Retirement Company™
In 2014, Voya Financial continued on its transformation journey and made further progress toward achieving its vision to be America’s Retirement Company. We generated strong financial performance, launched our new brand and rolled out new digital tools to expand our suite of retirement readiness capabilities. With our talented employees, our commitment to executing on our plans, our strong relationships with distribution partners and our relentless focus on our customers, we are positioned to make further progress toward helping all Americans become retirement ready.
A premier franchise
Through our Retirement Solutions, Investment Management and Insurance Solutions businesses, Voya Financial has access to 13 million customers through approximately 225,000 points of distribution. Each of our businesses has demonstrated its ability to deliver greater value by improving returns while also providing valuable asset accumulation, asset protection and asset distribution products and services. We plan to continue to reinvest in our businesses to drive return on equity expansion, increase free cash flow and accelerate earnings growth. While we benefit from a diverse earnings profile, our businesses work cohesively to help our customers with their retirement readiness needs, which is what enables us to deliver a powerful value proposition.
OUR DIVERSE BUSINESS >
Our Diverse Earnings
$1,378 million in 2014 Ongoing Business Adjusted Operating Earnings Before Income Taxes2
2 Ongoing Business reflects Retirement, Annuities, Investment Management, Individual Life, and Employee Benefits segments; adjustments are to exclude DAC/VOBA and other intangibles unlocking and the gain on a reinsurance recapture. Ongoing Business adjusted operating earnings is a non-GAAP financial measure. See "Non-GAAP Measures".
Our diverse earnings
Our Retirement Solutions business is a market-leading franchise that is well-positioned in all segments of the defined contribution retirement plan market. We also offer a comprehensive suite of individual retirement savings products and retirement income solutions to meet plan participants’ retirement income needs.
Our Investment Management business, which is our fastest-growing, provides investment solutions covering a wide array of equity, fixed income and multi-asset strategies for both institutional and individual clients.
Our Insurance Solutions business provides solutions that help our customers with their asset accumulation, asset protection and asset distribution needs. We offer individual life insurance products as well as employee benefits, including group life insurance, stop loss insurance, and voluntary benefits.
