Voya 2014 Annual Report Download - page 32

• Our principal operating entities that are the primary sources of cash distributions to Voya Financial,
Inc. Specifically, these entities are our principal insurance operating companies (VRIAC, VIAC, SLD
and RLI) and Voya Investment Management LLC, the holding company for entities that operate our
Investment Management business.
• SLDI, our Arizona captive.
Other ING Operations in the United States
ING Group has certain operations in the United States that do not form part of the Company, including ING
Corporate and Institutional Clients (ING Group’s wholesale banking operations in the U.S.) and certain limited
operations of its European and Asian investment management business.
Our Brand
Our Company’s leadership and reputation in the financial services industry is built from the strong heritage
of our brand. Through a history of acquisitions, including the Aetna, ReliaStar, Equitable of Iowa, Security Life
of Denver brands, we have consistently integrated and branded our operations to achieve outstanding customer
awareness, brand attributes, and brand affiliation. Between 2001 and 2013, we largely consolidated our
operations under the globally recognized ING brand. According to industry branding surveys, brand awareness
for ING in the U.S. during that time grew dramatically, increasing from 11% in 2001 to 76% in 2013.
The ING U.S. brand was associated with retirement, investment and insurance products and solutions that
deliver financial security, and as we became a standalone company, we continued to leverage our high brand
awareness and brand strength to create a new brand that supports our mission of making a secure financial future
possible for all of our customers.
On April 11, 2013, we announced plans to rebrand as “Voya Financial”, and in January 2014, we announced
additional details regarding the operational and legal work associated with the rebranding. Consistent with these
plans, ING U.S., Inc. changed its legal name to Voya Financial, Inc. in April 2014; and in May 2014 our
Investment Management and Employee Benefits businesses began using the Voya Financial brand. In September
2014, all of our businesses began using the Voya Financial brand and all remaining ING U.S. legal entities that
had names incorporating the “ING” brand changed their names to reflect the Voya brand. While the bulk of our
operational and legal entity rebranding efforts are now behind us, we anticipate that the entire process of
changing all marketing materials, operating materials and legal entity names containing the word “ING” or
“Lion” to our new brand name will be completed by October 2015, at a cost between $40 million and $50
million.
We believe that strong brand recognition is the first step in establishing ourselves with all of our
stakeholders as a standalone company, and have initiated an advertising program to raise awareness of our new
brand. We are planning to invest approximately $100 million over the brand’s first two-and-a-half years to
introduce and establish it among customers and key stakeholders. We are establishing Voya Financial as
America’s Retirement Company™, while articulating our vision, mission and core values. In May through
November 2014 we executed a significant trade advertising effort to introduce our new brand to our distribution
partners. This campaign’s media vehicles and messaging were adjusted over time to coincide with the rebranding
timing of our businesses. A fully integrated consumer effort, to which we are allocating the bulk of our
rebranding advertising investment, was launched in September 2014.
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