Voya 2014 Annual Report Download - page 166

The following table presents the impact of the annual review of assumptions by line item for the periods
indicated:
Year Ended December 31,
($ in millions) 2014 2013 2012
Fee income ......................................... $ (33.2) $ (6.0) $(12.7)
Interest credited and other benefits to contract owners/
policyholders ..................................... (138.6) 22.4 (9.6)
Net amortization of DAC/VOBA ....................... 162.8 4.2 19.8
Total .............................................. $ (9.0) $20.6 $ (2.5)
The following table presents sales, gross premiums, in-force and policy count for our Individual Life
segment for the periods indicated:
Year Ended December 31,
($ in millions) 2014 2013 2012
Sales by Product Line:
Universal life:
Guaranteed ......................... $ 0.1 $ 0.6 $ 72.7
Accumulation ....................... 9.8 12.7 25.3
Indexed ............................ 49.8 27.6 33.5
Total universal life ....................... 59.7 40.9 131.5
Variable life ............................. 7.2 8.6 6.3
Whole life .............................. 0.1 0.2 —
Term .................................. 28.0 50.1 116.3
Total sales by product line ............. $ 95.0 $ 99.8 $ 254.1
Total gross premiums and deposits(1) ......... $ 2,014.7 $ 1,997.1 $ 2,324.6
End of period:
In-force face amount(1) ................ $475,815.7 $604,990.2 $607,975.5
In-force policy count(1) ................ 1,124,771 1,332,148 1,352,844
New business policy count (paid) ........ 30,548 53,237 119,936
(1) Amounts exclude term life insurance policies disposed of via reinsurance effective October 1, 2014.
Effective October 1, 2014, we disposed of, via reinsurance, a block of in-force Term contracts (the “Term
Life Coinsurance Agreement”). Consistent with our practice to exclude business (including blocks of business)
exited via reinsurance or divestment from Operating earnings before income taxes and from Operating revenues,
beginning in the fourth quarter of 2014, the revenues and expenses of this reinsured block of business are
excluded from these metrics and in the tables above. See Liquidity and Capital Resources—Reinsurance in Part
II, Item 7. of this Annual Report on Form 10-K for further description.
Individual Life—Year Ended December 31, 2014 Compared to Year Ended December 31, 2013
Operating revenues
Net investment income and net realized gains (losses) decreased $30.4 million from $915.5 million to
$885.1 million primarily due to $47.2 million of net investment income from Lehman Recovery/LIHTC in the
prior period that did not reoccur. Excluding the impact of Lehman Recovery/LIHTC, investment income
increased resulting from portfolio restructuring.
143