Voya 2014 Annual Report Download - page 169

Insurance Solutions—Employee Benefits
The following table presents Operating earnings before income taxes of the Employee Benefits segment for
the periods indicated:
Year Ended December 31,
($ in millions) 2014 2013 2012
Operating revenues:
Net investment income and net realized gains
(losses) ................................. $ 111.3 $ 117.6 $ 114.3
Fee income ............................... 69.6 63.0 62.5
Premiums ................................. 1,196.2 1,085.9 1,078.1
Other revenue ............................. (4.1) (4.0) (3.7)
Total operating revenues ......................... 1,373.0 1,262.5 1,251.2
Operating benefits and expenses:
Interest credited and other benefits to contract
owners/policyholders ..................... 940.7 903.4 892.1
Operating expenses ......................... 254.7 236.1 236.2
Net amortization of DAC/VOBA .............. 28.7 16.9 13.5
Total operating benefits and expenses .............. 1,224.1 1,156.4 1,141.8
Operating earnings before income taxes ........... $ 148.9 $ 106.1 $ 109.4
The following table presents certain notable items that resulted in volatility Operating earnings before
income taxes for the periods indicated:
Year Ended December 31,
($ in millions) 2014 2013 2012
DAC/VOBA and other intangibles unlocking ................. $(7.8) $(0.5) $—
Net gain from Lehman Recovery/LIHTC .................... — 4.3 —
Loss on sale of alternative investments ...................... — — (5.1)
The following table presents sales, gross premiums and in-force for our Employee Benefits segment for the
periods indicated:
Year Ended December 31,
($ in millions) 2014 2013 2012
Sales by Product Line:
Group life ................................ $ 54.2 $ 58.3 $ 47.9
Group stop loss ............................ 225.2 153.4 151.6
Other group products ........................ 18.1 24.1 31.1
Total group products ............................ 297.5 235.8 230.6
Voluntary products ............................. 40.8 27.2 24.5
Total sales by product line ................... $ 338.3 $ 263.0 $ 255.1
Total gross premiums and deposits ................. $1,374.2 $1,261.5 $1,252.1
Total annualized in-force premiums ................ 1,406.4 1,294.6 1,286.6
Loss Ratios:
Group life (interest adjusted) ................. 76.1% 78.7% 76.9%
Group stop loss ............................ 69.6% 75.3% 72.9%
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