Voya 2014 Annual Report Download - page 251
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During 2014, net cash settlements under OTC contracts (including cleared derivatives) were $211.7 million
paid and net cash settlements for exchange traded derivatives were $893.7 million paid. Net realized gains/
(losses) on derivatives for the year ended December 31, 2014, were $791.1 million and $(778.3) million for OTC
contracts (including cleared derivatives) and exchange traded contracts, respectively.
We use credit derivatives to reduce our exposure to credit-related events as well as taking credit risks. For
every subsidiary or internal portfolio, the net notional amount of credit risk taken using credit derivatives is
limited to the amount of U.S. Treasury security investments in the same portfolio. We also place a limit on the
amount of earnings volatility that these instruments can cause.
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