Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
Personality development only road to successTRAINER@WORK
Everyone lives their lives in hope of some form of success.Then there are some without any hope and some who are even afraid of it.There are too many cases of people who seek success but do not get it.
So for those who wonder and have questions on the above facts, this presentation tries to answer them.This presentation alks about success, why you do not get it and how you can get it.It also explains the relation between Personality Development and SUCCESS.
Google Rank is an algorithm used by the Google web search engine to rank websites in their search engine results.
Google works because it relies on the millions of individuals posting links on websites to help determine which other sites offer content of value. Google assesses the importance of every web page using a variety of techniques, including its patented PageRank™ algorithm which analyzes which sites have been “voted” the best sources of information by other pages across the web.
EARNED MEDIA- Communication about a brand that is not managed by the marketer
1) Contents
What is earned media?
Why You Need to Focus on Earned Media ?
How to do earned media ?
Strategies
Guest blogging
SITE analysis
Pros and Cons of guest blogging
Relationship with bloggers
Benefits of earned media
Challenges faced by earned media
2) What is earned media(free media) ?
Earned media refers to publicity gained through promotional efforts other than advertising(paid media).
A Nielsen study in 2013 found that earned media (also described as word-of-mouth) is the most trusted source of information in all countries it surveyed worldwide.
Earned media are the viewers reviews that you have read in someone’s blog,
3) Why You Need to Focus on Earned Media ?
Earned media is the most trusted and credible form of content for a brand.
Earned media lasts.
Increase Your Exposure and Brand Awareness.
Know What Others Think of You
Get Quality Traffic.
4) How to do Guest blogging ?
Steps :
Determining your guest post domain: Firstly you need to identify your web domain’s niche topics.
Research. Need to search for popular blogs with relevance to your domain space.
Qualitative analysis. You need to determine the quality of the guest blogging sites.
Posting guest blogs.
Presented by: http://www.paridhiinfotech.com
Foursquare is a web and mobile application that allows registered users to post their location at a venue ("check-in") and connect with friends.
The app uses the iPhone's built-in GPS to display restaurants, bars, parks, and other attractions in your city. When you visit any of those locations, you "check in" on the FourSquare app, which broadcasts your location to your friends. You'll also see where your friends have checked in, which helps you meet up with them or find new things to do.
The quarterly PowerPoint slide deck sent to investors for 1Q16, from CONE Midstream. CONE is a joint venture between CONSOL Energy and Noble Energy with pipelines exclusively in the Marcellus/Utica region.
Mark Wilson, Group Chief Executive Officer, said:
“In the first half we have taken a number of steps to deliver our investment thesis of cash flow and growth. These results show satisfactory progress in Aviva’s turnaround.
“We have achieved profit after tax of £776 million, in contrast to the £624 million loss last year. Cash flows to the Group have increased by 30% to £573 million. Our key measure of sales – value of new business – has increased 17%, driven by the UK, France, Poland, Turkey and Asia.
“Although these results continue the positive trends of the first quarter, tackling our legacy issues will take time.
“I am committed to achieving for investors what we set out to do: turning around the company to unlock the considerable value in Aviva.”
Mark Wilson, Group Chief Executive Officer, said:
“The turnaround at Aviva is intensifying. We have focused the business on ‘cash flow plus growth’ and the benefits are starting to be reflected in our performance. Cash flows to the Group are up 40%, operating expenses are down 7%, operating profit is up 6% and Value of New Business is up 13%. After a £2.9 billion loss after tax last year, Aviva has delivered a £2.2 billion profit.
“Following our exit from a number of low margin, underperforming or non-strategic businesses, Aviva is simpler, more focused and better managed. We have significantly improved our capital surplus, increased our liquidity and have a stronger leadership team.
“Although we have made progress in 2013, I want to guard against complacency. Aviva still has issues to address. Have we made progress? Yes, some. Is it a little faster than anticipated? Probably. Have we unlocked the full potential at Aviva? Not yet.”
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
2. This presentation and the remarks made orally contain forward-looking statements. Forward-looking statements
include statements relating to future developments in our business or expectations for our future financial
performance and any statement not involving a historical fact. Forward-looking statements use words such as
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and other words and terms of similar meaning in
connection with a discussion of future operating or financial performance. Actual results, performance or events
may differ materially from those projected in any forward-looking statement due to, among other things, (i)
general economic conditions, particularly economic conditions in our core markets, (ii) performance of financial
markets, including emerging markets, (iii) the frequency and severity of insured loss events, (iv) mortality and
morbidity levels, (v) persistency and lapse levels, (vi) interest rates, (vii) currency exchange rates, (viii) general
competitive factors, (ix) changes in laws and regulations and (x) changes in the policies of governments and/or
regulatory authorities. Factors that may cause actual results to differ from those in any forward-looking statement
also include those described “Risk Factors,” “Management’s Discussion and Analysis of Results of Operations
and Financial Condition—Trends and Uncertainties” and “Business—Closed Blocks—Closed Block Variable
Annuity” in our Annual Report on Form 10-K for the year ended December 31, 2013 as filed with the Securities
and Exchange Commission on March 10, 2014.
This presentation and the remarks made orally contain certain non-GAAP financial measures. Information
regarding these non-GAAP financial measures, including reconciliations to the most directly comparable GAAP
financial measures, is provided in the press release issued on May 7, 2014 and Voya Financial’s Quarterly
Investor Supplement for the three months ended March 31, 2014, which are available at the Investor Relations
section of Voya Financial’s website at investors.voya.us.
This presentation and the remarks made orally include certain statutory financial results of our insurance
company subsidiaries for the quarter ended March 31, 2014. These results are still being finalized, and are
therefore preliminary and subject to change.
Forward-Looking and Other Cautionary Statements
2
3. Agenda
1. Key Highlights
Rod Martin, Chairman and Chief Executive Officer
2. Executing Our Return on Equity (ROE) /
Return on Capital (ROC) Improvement Plan
Alain Karaoglan, Chief Operating Officer
3. Business Operating and Balance Sheet Metrics
Ewout Steenbergen, Chief Financial Officer
3
4. Recent Achievements
4
Deconsolidation
ING Group’s secondary offering closed on March 25, 2014 reducing its
ownership stake to approximately 43%
Higher
Expected
Capital
Generation
Raised our expected capital generation to more than $1.7 billion over the 2013
– 2016 period from $1.2 to $1.4 billion
Share
Repurchase
$300 million share buyback authorization; $265 million shares repurchased
Rebranded as
Voya Financial™
ING U.S. became Voya Financial™ on April 7th with operational rebranding
occurring in 2014
Improved
Rating Agency
Outlook
Fitch and Standard & Poor’s recently raised their ratings outlook to positive
5. First Quarter 2014 Financial Highlights
Closed Block Variable
Annuity Performance
After-tax Operating
Earnings1
Net Income Available to
Common Shareholders1
Ongoing Business
Adjusted Operating
Earnings (pre-tax)
Ongoing Business 1Q’14
TTM2 Adjusted Operating
Return on Equity
$150 million or $0.57 per diluted share
$163 million or $0.62 per diluted share ex DAC unlocking
$258 million driven by Ongoing Business operating earnings and Closed Block
Variable Annuity results
$287 million
10.3% consistent with FY’13
Protected regulatory and rating agency capital from market movements
GMIB Enhanced Annuitization Offer
1. Voya Financial assumes a 35% tax rate on items described as “after-tax.” The 35% tax rate does not reflect actual tax expenses or benefits, including the benefit from recognizing certain deferred tax assets. Net
income available to common shareholders reflects the actual effective tax rate
2. Trailing twelve month calculation
5
6. Premier Franchise with Diverse Earnings
1Q’14 TTM1 Ongoing Business Adjusted Operating Earnings Before Income Taxes2:
$1,221 million
Retirement Solutions
Leading provider of full service and
administrative retirement products
and services for organizations
across all markets as well as
individuals
Insurance Solutions
Top-tier provider of life insurance
for individuals and comprehensive
employee benefits for businesses
Investment Management
Prominent multi-asset, multi-channel
active asset manager for institutions
and individuals
75% from Retirement
Solutions and
Investment Management
Access to 13 million customers3
more than 220,000 points of distribution3
with total AUM and AUA of $514 billion4
1. Trailing twelve months calculation
2. Ongoing Business reflects Retirement, Annuities, Investment Management, Individual Life, and Employee Benefits segments; adjustments are to exclude DAC/VOBA and other intangibles unlocking, the net gain included in
operating earnings from a distribution of cash and securities in conjunction with a Lehman Brothers bankruptcy settlement and the loss recognized as a result of the decision to dispose of certain Low Income Housing tax
credit partnerships as a means of exiting this asset class
3. As of December 31, 2013
4. As of March 31, 2014; includes Closed Blocks
6
Retirement
Solutions
60%
Inv. Mgmt.
15%
Insurance
Solutions
25%
7. Ongoing Business Adjusted Operating Return on Equity on Track
to Meet Target
7.6%
8.3%
10.3% 10.3%
12.5%
FY'11 FY'12 FY'13 1Q'14 TTM 2016 Target
Ongoing Business Adjusted Operating ROE1
1. Ongoing Business includes Retirement, Annuities, Investment Management, Individual Life, and Employee Benefits segments; Ongoing Business adjusted operating earnings is calculated using the operating earnings (loss)
before income taxes for the Ongoing Business, excluding DAC/VOBA unlocking, the impact of portfolio restructuring in 2012, the gain associated with a Lehman Brothers bankruptcy settlement, and the loss recognized as a
result of marking low income housing tax credit partnerships to the sales price associated with their disposition. Ongoing Business adjusted operating ROE is then calculated by dividing the after-tax adjusted operating
earnings (loss) (using a pro forma effective tax rate of 35% and applying a pro forma allocation of interest expense) by the average capital allocated to the Ongoing Business reflecting an allocation of pro forma debt.
Assumes debt-to-capital ratio of 25% for all periods presented, a weighted average pre-tax interest rate of 5.5% for all periods prior to the third quarter of 2013, during which the Company completed its recapitalization
initiatives, and the actual weighted average pre-tax interest rate for all periods starting with the third quarter of 2013
2. Trailing twelve months calculation
7
2
12.0-13.0%
10.1%
Items that we do not expect to recur at the same levels
9.8%
8. Agenda
1. Key Highlights
Rod Martin, Chairman and Chief Executive Officer
2. Executing Our Return on Equity (ROE) /
Return on Capital (ROC) Improvement Plan
Alain Karaoglan, Chief Operating Officer
3. Business Operating and Balance Sheet Metrics
Ewout Steenbergen, Chief Financial Officer
8
9. 6.6%
7.2% 8.2% 8.4%
FY'11 FY'12 FY'13 1Q'14
TTM
2016
Target
Items that we do not expect to recur at the same levels
Ongoing Business Adjusted Operating Return on Capital
Sequentially Improved; Remains on Track to Meet 2016 Target
Note: Ongoing Business includes Retirement, Annuities, Investment Management, Individual Life, and Employee Benefits segments; we calculate Ongoing Business adjusted operating return on capital by dividing Ongoing
Business adjusted operating earnings before interest and after income taxes (using a pro forma effective tax rate of 35%) by average capital allocated to the Ongoing Business
1. Trailing twelve months calculation
Key Drivers of 1Q’14 Results
Adjusted Operating ROC
Retirement, Annuities, Investment Management,
and Employee Benefits all contributed to 1Q’14
TTM1 ROC improvement
Higher fee based margin on higher assets
Higher administrative expenses primarily as a result
of investments in the business and from operating
as a public company
Continued profitable growth while shifting to less
capital intensive, fee based products
10.0-11.0%
9
1
8.6% 8.6%
10. 8.5% 8.6%
6.1%
7.2%
8.9% 8.7%
0.0%
10.5%
FY'11 FY'12 FY'13 1Q'14
TTM
2016
Target
Items that we do not expect to recur at the same levels
Retirement – Leading Franchise Driving Long-Term Growth and
Returns
1. Trailing twelve months calculation
ROC Initiatives
Adjusted Operating ROC
Examples of Execution
91% of re-priced cases retained in 1Q’14 with aggregate
portfolio IRR’s at or above our internal targets
Tax-Exempt market sales force initiatives
Margin Adjusting crediting rates in response to
changes in the external rate environment
Increasing returns on Full Service
business
Improving Full Service retention rates
Growth Continuing sales momentum in the
Institutional Markets
Growing Individual Markets business
Capital Executing reinsurance transactions
Shifting to capital efficient products
10.0-11.0%
10
1
11. Retirement Solutions – Tax-Exempt Markets Continues Re-pricing
Strategy and Leverages Rebuilt Sales Force
11
Key Points Results From Sales Force Rebuilding
Net flows can vary significantly from quarter to
quarter due to our focus on large clients
1Q’14 net outflows included large unprofitable
client departures due to pricing related attrition
Execution of re-pricing strategy will continue over
next 4 years
Greater consistency in new business sales is
expected from significant actions taken to rebuild
sales force over the past 16 months
Overall Tax-Exempt Markets business expense
structure simultaneously improved by 7%1
Actions on sales force rebuilding are paying
off
Increasing field advisors
Recruitment of advisor specialists
on track to hit year-end target +10%
Driving new client activity
Notable growth in requests to bid on new
business
Number of finalist presentations has increased
New business close ratio is up substantially
1. Result reflects improvement of direct expenses as of year-end 2013 compared to year-end 2012
2. Percent growth reflects targeted growth by year-end 2014 as compared to year-end 2013
2
12. 6.8%
7.1%
3.3%
5.9%
7.3% 7.5%
8.0%
FY'11 FY'12 FY'13 1Q'14
TTM
2016
Target
Items that we do not expect to recur at the same levels
Annuities – Selective Growth While Running Off Less Profitable
Business
ROC Initiatives
Adjusted Operating ROC
Examples of Execution
1Q’14 deposits of $862 million are 55% above 1Q’13
Net flows turned positive
Allstate launch in line with expectations
Margin Running off Annual Reset / Multi-Year
Guarantee Annuities (products with high
fixed rate crediting levels)
Ongoing management of crediting rates
Growth Growing higher margin Mutual Fund
Custodial product sales and FIA sales
Capital Executing capital efficient structures
7.0-9.0%
12
1
1. Trailing twelve months calculation
13. 16.3%
18.4%
24.7%
26.3%
17.8%
24.6%
27.7% 29.6%
30%
FY'11 FY'12 FY'13 1Q'14
TTM
2016
Target
Results from investment capital
Investment Management – Scalable Platform Leveraging Strong
Investment Performance
Initiatives
Operating Margin
Examples of Execution
98% and 100% of fixed income assets outperformed
benchmark returns as of 1Q’14 on a 3-year and 5-year basis,
respectively
62% and 41% of equity assets outperformed benchmark returns
as of 1Q’14 on a 3-year and 5-year basis, respectively
$4.7 billion of sub-advisor replacements in 1Q’14
ING Intermediate Bond Fund and ING GNMA Income Fund
named number-one performers in their categories by Lipper3,
and ING High Yield Fund named among the best performers in
the U.S. Corporate Bond category by Bloomberg4
Margin Improving sales force productivity
Reducing retail outflows
Growth Increasing third-party business
Growing in higher-fee asset classes
Increasing capture of Defined Contribution
Investment Only (DCIO) mandates
Replacing underperforming non-Voya mutual
fund sub-advisors
1. Excludes gain from Lehman Recovery
2. Trailing twelve months calculation
3. Lipper Fund Awards 2014 for the three-year period ending December 31, 2013, announced on March 21, 2014
4. Takes into consideration 1-year, 3-year, and 5-year total returns as well as 3-year and 5-year Sharpe ratios; Source: Bloomberg Markets (April 2014)
30.0-34.0%
13
1 1
2
14. 4.5%
4.2%
7.9%
4.3%
4.9%
4.4%
0.0%
8.0%
FY'11 FY'12 FY'13 1Q'14
TTM
2016
Target
Items that we do not expect to recur at the same levels
Individual Life – Repositioning Toward More Capital Efficient
Products
ROC Initiatives
Adjusted Operating ROC
Examples of Execution
Indexed products accounted for 42% of sales in 1Q’14 as
compared to 23% in 1Q’13
Manage investment margin primarily through rate actions
on Universal Life products
Continued focus on managing administrative expense
levels
Margin Continuing to manage expenses relative to
sales volume
Managing non-guaranteed elements of in-
force contracts
Capital Shifting sales focus to indexed products
Executing capital efficient structures
6.0-8.0%
14
1
1. Trailing twelve months calculation
15. Employee Benefits – High Return and Capital Generation
Business
ROC Initiatives
Adjusted Operating ROC
Examples of Execution
Targeted new hires in key markets and improved sales
force training resulted in $93 million increase in Stop Loss
sales in 1Q’14 vs. 1Q’13
Loss ratio for Stop Loss better than expected range
Voluntary sales more than doubled driven by our Compass
product suite
Margin Improving loss ratio for Stop Loss policies
Growth Increasing persistency and sales in the
Group business
Expanding the Voluntary business
1. The Compass suite of insurance products is a family of group voluntary products including Critical Illness, Accident, and Hospital Indemnity
2. Trailing twelve months calculation
18.1%
20.1%
13.2%
16.9%
18.8%
20.6%
22.0%
FY'11 FY'12 FY'13 1Q'14
TTM
2016
Target
Items that we do not expect to recur at the same levels
18.0-22.0%
15
2
16. Agenda
1. Key Highlights
Rod Martin, Chairman and Chief Executive Officer
2. Executing Our Return on Equity (ROE) /
Return on Capital (ROC) Improvement Plan
Alain Karaoglan, Chief Operating Officer
3. Business Operating and Balance Sheet Metrics
Ewout Steenbergen, Chief Financial Officer
16
17. $187
$174
$150
$258
$(13)
$(24)
$1
$13
$37
$(13)
$71
Ongoing
Business
Adjusted
Operating
Earnings
Net Gain
(Loss) from
DAC/VOBA
and Other
Intangibles
Unlocking
Ongoing
Business
Operating
Earnings
Corporate
Operating
Earnings
(Loss)
Closed Block
ISP and
Closed Block
Other
Operating
Earnings
Operating
Earnings
Closed Block
Variable
Annuity
Net Realized
Gains
Other Other Tax-
related
Net Income
Available to
Common
Shareholders
Reconciliation of 1Q’14 Ongoing Business Adjusted Operating
Earnings to Net Income
($ million; all figures are after-tax)
1. Income after taxes of $13 million includes an after-tax Nonperformance Risk-related gain of $19 million
2. Other consists of net guaranteed benefit hedging gains (losses) and related charges and adjustments; income (loss) from business exited; certain expenses and deal incentives related to the divestment of Voya
Financial by ING Group; expenses associated with the rebranding of Voya Financial from ING U.S. and restructuring expenses (severance, lease write-offs, etc.)
3. Other Tax-related is the difference between the actual tax rate for the quarter and the pro forma effective tax rate of 35% used to calculate operating earnings. The difference is primarily driven by changes in tax
valuation allowances
17
1
2
3
18. $305
$(53)
$(20)
$2
$(4) $(4)
$(18)
$(8)
$30 $231
4Q'13
Operating
Earnings
Before Tax
4Q'13 Items
Disclosed in
S-1
1Q'14 DAC
Unlocking
1Q'14
Prepayment,
Alternatives,
Lehman
1Q'14 Group
Life Loss
Ratio
Variance
1Q'14 IM
Performance
Fees vs. 4Q'13
1Q'14
Seasonal
Items
1Q'14
Individual Life
1Q'14
Underlying
Improvement
ex-Individual
Life
1Q'14
Operating
Earnings
Before Tax
Underlying Improvement in Operating Earnings from 4Q’13 to
1Q’14
18
4Q’13 1Q’14
1
2 3
5
1. 4Q’13 included the following items that we do not expect to recur at the same levels: $9 million net gain for a Lehman Brothers Bankruptcy settlement and the loss recognized from disposal of certain Low Income Housing
Tax Credit Partnerships, $14 million prepayment expense that reduced earnings in our Closed Block ISP segment as a result of early termination of certain Federal Home Loan Bank funding agreements. 4Q’13 also
included the following seasonal items subject to significant variability which deviated from our long term expectations: prepayment fee income for the ongoing business $7 million above expectation and alternative
investment income $24 million above the long term expected return of 9% (the combined DAC for these two items is $3.6 million); $8 million in higher underwriting income due to the group life loss ratio; approximately $22
million in favorable DAC/VOBA and other intangibles unlocking
2. Includes a $1.8 million net loss from the Lehman Bankruptcy settlement; $7.2 million in pre-DAC prepayment fee income below expectation and $10.5 million in pre-DAC alternative investment income above expectation
(the combined DAC for these two items is $0.4 million)
3. The Group Life loss ratio variance is relative to the midpoint of the expected range of 77-80%
4. Investment Management performance fees include a $2.8 million variable cost offset
5. 1Q’14 seasonal items include payroll taxes, foundation funding, and audit fees
4
($ million; all figures are pre-tax and post-DAC)
19. Diversified Drivers of Operating Revenues
Primarily consists of spread
between yield and credited
interest and investment
income on capital supporting
the business
Investment
Spread and
Other
Investment
Income
Primarily consists of fees on
AUM and AUA
Fee Based
Margin
Primarily consists of
difference between premiums
or fees charged for insurance
risks and incurred benefits
Net
Underwriting
Gain (Loss) and
Other Revenue
Ongoing Business Sources of Revenues
($ millions)
$344 $364 $370 $389 $381
$364 $361 $345
$377 $362
$180
$204 $199
$181 $174
$887
$929 $913
$947
$917
1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
19
1. Excludes the net gain from the Lehman bankruptcy settlement and the loss recognized as a result of marking low income housing tax credits partnerships to the sales price associated with their disposition in 3Q’13
and 4Q’13
1
1
20. Retirement Net Flows Reflect Continued Repricing Discipline
$562
$251
$(85)
$215
$104
$376
$198
$191
$319
$148
$(60)
$283
$1,419
$442
$234
$363
$44
1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
Retirement Net Flows1
($ million)
1. Excludes recordkeeping
20
Net Flows excl. Stable Value Stable Value Net Flows
Large Stable Value
Government Plan
Large Healthcare Plan
21. $140 $169 $137 $153 $146
$(43) $(46)
$120
$(76) $(82)
$(73)
$(242)
$(284)
$(332)
$(330)
$(233)
$(220)
$(244) $(261)
$(172)
$55
1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
Annuities Growing in Mutual Fund Custodial and Fixed Indexed
Products, Running Off Less Profitable Business
Annuities Net Flows1
($ million)
1. Annual reset (AR) / Multi-year guarantee annuities (MYGA) are in run-off
21
Annual Reset Annuities & Multi-Year Guarantee Annuities Single Premium Immediate Annuities, Payout Annuities & Other
Fixed Indexed Annuities
Mutual Fund Custodial
$(26)
$31
$8
$23
22. $2.4
$3.1
$0.7
$1.3 $1.3
$0.6
$0.9
$(0.3)
1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
1Q’13 2Q’13 3Q’13 4Q’13 1Q’14
Sub-Advisor
Replacements
$0.6 $0.5 $0.9 $0.0 $4.7
Investment
Management
VA Outflows
$(0.5) $(0.6) $(0.6) $(0.7) $(0.8)
Total $3.2 $3.1 $1.8 $0.6 $4.9
Investment Management Net Flows Benefitted from Significant
Sub-Advisor Replacements in 1Q’14
Investment Management Third-Party Net Flows1
($ billion)
1. Excludes General Account
2. Total Closed Block Variable Annuity net outflows were $1.2 billion in 1Q’14
Affiliate Sourced
Investment Management Sourced
22
2
23. $144
$18
$49
$29
$242
1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
Group Life Stop Loss Voluntary Products
Employee Benefits Loss Ratios for Group Life and Stop Loss
Improved Over 1Q’13
1. Refer to the 1Q’14 Quarterly Investor Supplement for sales figures by product
Loss Ratios
(%)
Sales1
($ million)
85.4%
75.4%
82.1%
72.0%
82.0%
1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
77.5% 76.9%
78.7%
FY'11 FY'12 FY'13
77.6%
72.1%
72.8%
78.4%
72.4%
1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
82.9%
72.9%
75.3%
FY'11 FY'12 FY'13
Group Life Stop Loss
23
24. Active Hedge Program in Closed Block Variable Annuity
Estimated available
resources of $4.6
billion1
Estimated Guaranteed
LB Statutory reserves
of $2.7 billion
Living Benefit NAR of
$2.6 billion
Net Flows of ($1.2)
billion, annualized
10.5% of beginning of
period assets
Preliminary Impact to Regulatory Capital and Earnings2,3
($ million)
$(0.5)
$1.0
$0.2
$1.2
$0.2
$1.0 $1.0
$0.2
$0.4
$(0.8)
$(0.1)
$(1.0)
$(0.2)
$(0.6) $(0.7)
$(0.1)
2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
Equity impacts (increase) decrease in stat reserve liability
Equity impacts increase (decrease) in hedge assets
Net Impact (increase / (decrease))
Equity Market (S&P 500) Interest Rates
-25% -15% -5% 5% 15% 25% -1% 1%
Regulatory Capital - - 50 150 200 250 100 (50)
U.S. GAAP Earnings Before Income Taxes 850 450 100 (250) (600) (800) (300) 150
1Q’14 Results
Change in Statutory Reserves Relative to Hedge
($ billion)
Net Impact ($ billion)
($0.1) $0.2 $0.1 $0.2 $0.0 $0.4 $0.3 $0.1
1. Estimated available resources include planned $150 million contribution from ING USA to SLDI to occur in 2Q’14
2. These sensitivities illustrate the estimated impact of the indicated shocks beginning on the first market trading day following March 31, 2014, and give effect to dynamic rebalancing over the course of the shock event.
This reflects the hedging we had in place at the close of business on March 31, 2014 in light of our determination of risk tolerance and available collateral at that time, which may change from time to time. The
estimates of equity market shocks reflect a shock to all equity markets, domestic and global, of the same magnitude
3. Actual results will differ due to issues such as basis risk, variance in market volatility versus what is assumed, combined effects of interest rates and equities, rebalancing of hedges in the future, or the effects of time
and other variations from assumptions. Additionally, estimated sensitivities vary over time as the market and closed book of business evolve or if assumptions or methodologies that affect sensitivities are refined
24
25. Estimated Combined RBC Ratio1 Strengthened, While Leverage
Ratio is In-Line with Plan
1. Estimated combined RBC ratio primarily for our four principal U.S. insurance subsidiaries
2. 1Q’13 statutory total adjusted capital was $6.7 billion and pro forma estimated combined RBC ratio was 451% after $1.4 billion of distributions; statutory total adjusted capital was $8.2 billion and estimated combined RBC
ratio was 556% before distributions
3. Pro-forma for the effects of upstreaming approximately $800 million in ordinary dividends to the holding company, statutory total adjusted capital would be $6.7 billion and estimated combined RBC ratio would be
approximately 460%
4. Ratio is based on U.S. GAAP capital (adjusted to exclude minority interest and AOCI) and ignores the 100% and 25% equity treatment afforded to subordinated debt by S&P and Moody’s, respectively
Statutory Total Adjusted Capital ($ billion) and Estimated
Combined RBC Ratio1
$6.7 $6.7
$7.0 $7.1
$7.6
451% 454% 470%
503%
525%
1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
Stat. Total Adj. Capital
Estimated Combined RBC Ratio
Target 425%
RBC Ratio
2
2
Debt to Total Capital Ratio ex. Minority Interest and AOCI4
27.2% 26.2%
24.5% 23.5% 23.5%
1Q'13 2Q'13 3Q'13 4Q'13 1Q'14
Senior Debt Subordinated Debt
Target 25%
Debt-to-
Capital Ratio
1
25
3
3
26. Robust Capital Position
26
Holding Company Liquidity1
($ million)
$462
03/31/2014
3/31/14
Corporate & Closed Blocks GAAP Capital
($ million)
$462
3/31/14
3/31/14
Holding Co
Working Capital
Estimated
Statutory
Surplus in
Excess of 425%
RBC Level
Statutory Surplus
Supporting Other
Closed Blocks
Other2
$1,434
1. Target of $450 million represents 24-month holding company liquidity target; holding company liquidity includes cash and cash equivalents of $441.5 million and short term investments of $21.0 million
2. Primarily reflects certain intangible and tax assets net of certain corporate liabilities
$2,676
$393
$450 Liquidity
Target
$387
27. America’s Retirement Company™
27
Experienced Management Team With a Goal of 400-500 bps ROE
Improvement from 2012 to 2016
1
3
2
Premier Franchise with Leading Positions in Attractive Markets
Solid Foundation Based on a Re-Capitalized and De-Risked
Balance Sheet
29. Seasonality of Financial Items
1Q 2Q 3Q 4Q
Retirement
Corporate Markets tends to
have the highest recurring
deposits
Withdrawals also tend to
increase
Education Tax-Exempt Markets
typically sees lowest recurring
deposits
Corporate Markets typically
sees highest transfer / single
deposits
Withdrawals also tend to
increase
Recurring deposits in
Corporate Markets may be
lower
Investment
Management
Performance fees tend to be
lowest
Carried interest is minimal
Performance fees tend to be
highest
Individual
Life
Universal Life sales tend to be
highest
Employee
Benefits
Group Life loss ratio tends to
be highest
Sales tend to be the highest
Sales tend to be second
highest
All
Segments
Payroll taxes tend to be highest
Other annual expenses are
concentrated
Income on alternatives is
usually lower
Note: Annuities does not have any segment-specific seasonal financial items
29
30. Closed Block Variable Annuity Cash Flow Scenarios Improved
Over Past Year
The scenarios provide
an illustrative
presentation of how
the CBVA segment is
expected to perform
under various
deterministic paths
Year end 2012 time
zero equivalents
consistent with PV
approach
PV of Cash flows
projected over 50
years, discounted at
swap rates
Scenario Assumptions
Time Zero
Equivalent
as of Year End
20121
PV of Cash Flows
as of Year End
20122
PV of Cash Flows
as of Year End
20132
Scenario 1
Equity return down 25% in
first year, then 0%
thereafter; Long term
interest rates constant;
Lapses down 10%
$(1.4) $(1.4) $(0.9)
Scenario 2
5% Equity returns; Interest
rates follow forward curve;
current dynamic
policyholder behavior
(PHB) assumptions
1.3) 1.3) 1.9)
Scenario 3
9% Equity returns; Interest
rates follow forward curve;
current dynamic PHB
assumptions
2.4) 2.2) 2.5)
Scenario 4
9% Equity returns; Interest
rates grade to long-term
assumption; current
dynamic PHB assumptions
3.0) 2.9) 2.9)
($ billion)
Note: Capital Hedge Overlay impacts utilize an estimation approach; Rho hedge positions as of December 31, 2013 are assumed held-to-maturity and are run-off over the projection; Cash flows are projected over 50 years reflecting obligation of
guaranteed benefits. They are independent of any accounting regime, and are pre-tax. The analysis is neither an asset adequacy analysis nor an actuarial appraisal of the block. Discount rates for GMIB claims approximated by interest rate assumption at
time of annuitization in each scenario. In Scenario 4, swap rates grade to 3.4% (3-month rate) and 5.4%, (10-Year rate). Actual results will vary from cash flows due to factors such as, but not limited to, market volatility over time, which would not be
reflected in a single deterministic path; basis risk; potential changes in assumptions or methodology that affect reserves or hedge targets; and additional impacts from rebalancing of hedges or effects of time
1. Time Zero Equivalent, employed in prior year’s analysis, represents an illustrative amount of assets that could be removed or would be required at time zero to ensure resources stay positive each year throughout the 50-year projection
2. PV of cash flows equal available resources less PV of benefit payments, plus PV of fees net of expenses, plus PV of Hedge Gains/Losses
Available resources include planned $150M movement from ING USA to SLDI in 2Q’14
30
31. Significant NPV of Projected Tax Savings
DTA That Could Be Realized
s
35% Federal Tax Rate
10% Discount Rate
Op. Loss Carry Forwards
Life Subgroup
Deferred Losses
Non-Life Subgroup
Deferred Losses
Losses incurred on VA
hedge program
Tax-based goodwill
amortization
Non-Life deferred losses
Non-Life federal net
operating loss carry
forwards
1. Based on valuation of $9.3 billion at time of Section 382 event
2. Factors in Section 382 tax-exempt rate of 3.56% for March 2014 and NOL expiration schedule at 12/31/13
3. Of this amount, $395 million is not offset by a TVA
4. Factors in Section 382 tax-exempt rate of 3.56% for March 2014
5. Future events, including a possible additional Section 382 event, could cause the deferred tax asset value ultimately realized to be materially lower than currently estimated
SLDI Related
Deferred Losses
Losses incurred on VA
hedge program resident
in SLDI
Nominal
DTA Value NPV1,5
Operating Loss Carry Forwards2 $1,005 $440
SLDI Related Deferred Losses 1,010 621
Life Subgroup Deferred Losses 570 350
Non-Life Subgroup Deferred Losses4 260 86
Total $2,845 $1,497
3
31
32. Illustration of Tax Asset Utilization
32
Illustration of Tax Asset Utilization at Section 382 event1
($ million)
Operating Loss Carry Forwards
Life Subgroup
Deferred Losses
Non-Life Subgroup
Deferred Losses
$2.8 billion of federal NOLs as of YE 2013, with $0.3 billion likely not utilized
Subject to Section 382 limitation and life non-life limitation
Actual annual NOL utilization affected by additional factors
If annual NOL utilization is less than maximum allowed by Section 382,
unused portions may be applied to future taxable income
Assumes dividends received deduction (“DRD”) not available after 2014
Realized built-in losses are assumed to be approximately $150 million per
year for first five years
Applied to Life taxable income
Approximately, ratable amortization
over next 10 years
Not subject to Section 382 limitation
Assumed utilization based on no
additional income beyond income
needed for recognition of Life
Subgroup deferred losses and NOLs
Partially subject to Section 382
limitation
Op. Loss Carry
Forwards2 SLDI
Life Subgroup
Deferred Losses3
NL Subgroup
Deferred Losses4
20135 $73 $- $58 $-
2014 $- $101 $57 $-
2015 - 101 57 -
2016 30 101 57 -
2017 91 101 57 -
2018 83 101 57 -
2019 68 101 57 -
2020 71 101 57 -
2021 142 101 57 -
2022 212 101 57 -
2023 151 101 57 -
2024 40 - - 126
2025 - - - 118
2026 - - - 16
2027 - - - -
2028 - - - -
2029 - - - -
2030 - - - -
2031 - - - -
2032 - - - -
2033 - - - -
2034 - - - -
2035 - - - -
NPV $440 $621 $350 $86
1. This assumes a reasonable approximation of future taxable income. Valuation at Section 382 event. NPV calculation for
2014 through 2035 period
2. Factors in Section 382 tax-exempt rate of 3.56% for March 2014 and NOL expiration schedule at 12/31/13
3. The realization of these benefits started in 2013
4. Factors in Section 382 tax-exempt rate of 3.56% for March 2014. Portion of NL Subgroup Deferred Losses subject to
Section 382 utilized after full utilization of Op. Loss Carry Forwards and Portion of NL Subgroup Deferred Losses not
subject to Section 382 utilized after full utilization of Life Subgroup Deferred Losses
5. 2013 utilization numbers are estimates until tax filing in September 2014; actual utilization could vary significantly. Figures
are not representative of total changes in the DTA, but only those portions related to each category
SLDI
Over $3.0 billion of historical losses within SLDI, which has been bought onshore
Deferred losses assumed to be recognized over the next 10 years ratably
Assumes additional SLDI losses will not displace the future tax benefit of other
future losses such as NOLs