Voya 2014 Annual Report Download - page 343

Voya Financial, Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
(3) $281.4 could have been paid as ordinary dividends after May 8, 2014. $90.0 could have been paid as
ordinary dividends after December 9, 2014. $281.0 was paid as an ordinary dividend on May 19, 2014.
$90.0 was paid as an ordinary dividend on December 22, 2014.
(4) These can be paid as ordinary dividends after May 19, 2015.
(5) $231.8 can be paid as ordinary dividends after May 19, 2015. $90.0 can be paid as ordinary dividends after
December 22, 2015.
(6) This can be paid as ordinary dividends after June 24, 2015.
The following table summarizes dividends and return of capital distributions paid by each of the Company’s
Principal Insurance Subsidiaries to its parent for the periods indicated:
Dividends Paid
Return of Capital
Distributions
As of December 31, As of December 31,
2014 2013 2014 2013
Subsidiary Name (State of domicile):
Voya Insurance and Annuity Company (IA)(1) .............. $216.0 $ — $— $230.0
Voya Retirement Insurance and Annuity Company (CT)(2) .... 371.0 264.0 — —
Security Life of Denver Insurance Company (CO)(3) ......... 32.0 — — 447.0
ReliaStar Life Insurance Company (MN)(4) ................ 193.0 — — 583.0
(1) In May 2014, Voya Insurance and Annuity Company (“VIAC”), formerly known as ING USA, paid a
$216.0 ordinary dividend. Iowa Insurance Division approved VIAC’s 2013 return of capital distribution.
(2) In May 2014, Voya Retirement Insurance and Annuity Company (“VRIAC”), formerly known as ING Life
Insurance and Annuity Company, paid a $281.0 ordinary dividend. In December 2014, VRIAC paid a $90.0
ordinary dividend. Connecticut Insurance Department approved VRIAC’s $174.0 extraordinary dividend as
part of the May 8, 2013 extraordinary distribution. In December 2013, VRIAC paid a $90.0 ordinary
dividend.
(3) In June 2014, SLD paid a $32.0 ordinary dividend. Colorado Insurance Division approved SLD’s 2013
return of capital distribution.
(4) In May 2014, RLI paid a $193.0 ordinary dividend. Minnesota Insurance Division approved RLI’s 2013
return of surplus distribution.
On May 2, 2014, Voya Financial, Inc.’s Principal Insurance Subsidiaries domiciled in Connecticut, Iowa and
Minnesota declared ordinary dividends in the aggregate amount of $690.0, which were paid on May 19, 2014. On
June 9, 2014, Voya Financial, Inc.’s Principal Insurance Subsidiary domiciled in Colorado declared an ordinary
dividend in the aggregate amount of $32.0, which was paid on June 24, 2014. On November 20, 2014 Voya
Financial, Inc.’s Principal Insurance Subsidiary domiciled in Connecticut declared an ordinary dividend in the
amount of $90.0, which was paid on December 22, 2014.
In March and April 2013, in response to requests made in 2012 and refreshed in 2013, Voya Financial, Inc.’s
Principal Insurance Subsidiaries domiciled in Colorado, Connecticut, Iowa and Minnesota received approvals or
notices of non-objection, as the case may be, from their respective domiciliary insurance regulators to make
extraordinary distributions to Voya Financial, Inc. or Voya Holdings, Inc., a wholly owned subsidiary of Voya
Financial, Inc., in the aggregate amount of $1.4 billion, contingent upon completion of the IPO and the use of the
extraordinary distribution funds solely for Company operations. The approved distributions of $1.4 billion were
made on May 8, 2013.
320