Voya 2013 Annual Report Download - page 204

As of December 31, 2013 and 2012, the weighted average quality rating of our fixed maturities portfolio
was A, respectively. The following tables summarize credit quality of fixed maturities, including securities
pledged, using ARO ratings as of the dates indicated:
($ in millions) December 31, 2013
ARO Quality Ratings AAA AA A BBB BB
B and
Below
Total Fair
Value
U.S. Treasuries ........... $ 5,181.2 $ — $ — $ —$—$—$5,181.2
U.S. Government agencies
and authorities .......... 613.2 2.9 2.8———618.9
State, municipalities and
political subdivisions ..... 59.2 182.8 34.3 3.9 0.9 — 281.1
U.S. corporate securities .... 796.9 2,031.7 15,424.1 17,435.3 1,510.5 280.1 37,478.6
Foreign securities(1) ........ 93.1 1,331.6 3,781.7 10,446.0 659.2 44.9 16,356.5
Residential mortgage-backed
securities .............. 5,801.9 35.5 45.9 144.7 98.2 997.5 7,123.7
Commercial mortgage-
backed securities ........ 1,552.3 727.5 426.9 476.0 350.8 218.6 3,752.1
Other asset-backed
securities .............. 1,232.9 30.1 77.9 55.6 56.5 473.7 1,926.7
Total fixed maturities . . $15,330.7 $4,342.1 $19,793.6 $28,561.5 $2,676.1 $2,014.8 $72,718.8
% of Fair Value ....... 21.0% 6.0% 27.2% 39.3% 3.7% 2.8% 100.0%
(1) Primarily U.S. dollar denominated.
($ in millions) December 31, 2012
ARO Quality Ratings AAA AA A BBB BB
B and
Below
Total Fair
Value
U.S. Treasuries ........... $ 5,883.7 $ — $ — $ —$—$—$5,883.7
U.S. Government agencies
and authorities .......... 718.2 2.9 3.1———724.2
State, municipalities and
political subdivisions ..... 107.1 202.9 37.5 4.3 1.0 — 352.8
U.S. corporate securities .... 753.3 1,909.8 14,920.7 17,801.5 1,419.5 359.1 37,163.9
Foreign securities(1) ........ 75.3 1,014.1 3,602.9 10,500.8 728.0 63.4 15,984.5
Residential mortgage-backed
securities .............. 5,843.5 61.3 166.2 172.4 121.6 1,302.0 7,667.0
Commercial mortgage-
backed securities ........ 1,882.2 851.7 555.1 881.0 483.7 292.7 4,946.4
Other asset-backed
securities .............. 1,489.2 24.4 129.1 85.1 111.3 725.5 2,564.6
Total fixed maturities . . $16,752.5 $4,067.1 $19,414.6 $29,445.1 $2,865.1 $2,742.7 $75,287.1
% of Fair Value ....... 22.3% 5.4% 25.8% 39.1% 3.8% 3.6% 100.0%
(1) Primarily U.S. dollar denominated.
Fixed maturities rated BB and below may have speculative characteristics and changes in economic
conditions or other circumstances that are more likely to lead to a weakened capacity of the issuer to make
principal and interest payments than is the case with higher rated fixed maturities.
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