Voya 2014 Annual Report Download - page 242

As of December 31, 2014
Hypothetical Change in
Fair Value(1)
($ in millions) Notional Fair Value
+10%
Equity Shock
-10%
Equity Shock
Financial assets with equity market risk:
Equity securities, available for sale ..... $ — $ 271.8 $ 18.4 $ (18.4)
Limited liability partnerships/
corporations ..................... — 363.2 22.1 (22.1)
Derivatives:
Equity futures and total return
swaps(2) ..................... 8,722.0 94.0 (725.3) 725.3
Equity options ................. 12,443.7 179.2 (41.2) 3.8
Financial liabilities with equity market risk:
Guaranteed benefit derivatives:
FIA .......................... — 1,970.0 98.7 (181.1)
GMAB / GMWB/ GMWBL ...... — 1,586.7 (185.8) 256.5
(1) (Decreases) in assets or (decreases) in liabilities are presented in parentheses. Increases in assets or increases
in liabilities are presented without parentheses.
(2) Primarily related to CBVA hedging programs.
As of December 31, 2013
Hypothetical Change in
Fair Value(1)
($ in millions) Notional Fair Value
+10%
Equity Shock
-10%
Equity Shock
Financial assets with equity market risk:
Equity securities, available for sale ...... $ — $ 314.4 $ 22.9 $ (22.9)
Limited liability partnerships/
corporations ...................... — 236.4 14.2 (14.2)
Derivatives:
Equity futures and total return
swaps(2) ...................... 8,262.9 (44.4) (711.8) 711.8
Equity options .................. 3,463.0 164.2 73.4 (98.6)
Financial liabilities with equity market risk:
Guaranteed benefit derivatives:
FIA ........................... — 1,736.7 96.6 (175.2)
GMAB / GMWB/ GMWBL ....... — 908.9 (171.6) 250.0
(1) (Decreases) in assets or (decreases) in liabilities are presented in parentheses. Increases in assets or increases
in liabilities are presented without parentheses.
(2) Primarily related to CBVA hedging programs.
Market Risk Related to Closed Block Variable Annuity
Closed Block Variable Annuity Net Amount at Risk (“NAR”)
The NAR for Guaranteed Minimum Death Benefits (“GMDB”), Guaranteed Minimum Accumulation
Benefits (“GMAB”) and Guaranteed Minimum Withdrawal Benefits (“GMWB”) is equal to the guaranteed value
of these benefits in excess of the account values in each case as of the date indicated. The NAR assumes
utilization of benefits by all customers as of the date indicated.
The NAR for Guaranteed Minimum Benefits (“GMIB”) and Guaranteed Minimum Withdrawal Benefits for
Life (“GMWBL”) is equal to the excess of the present value of the minimum guaranteed annuity payments
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