Company History in the U.S.
Voya Financial evolved from ING Group’s U.S. retirement, investment management and insurance operations. After some smaller initial U.S. business ventures, ING Group predecessor, Nationale-Nederlanden, started building a life insurance business in this country in the mid-1970s when it acquired a majority of Wisconsin National Life Insurance Company in 1975. This was followed by the acquisition of Midwestern United Life Insurance Company in 1976.
1977 - Acquisition of Security Life of Denver
The Security Life of Denver Insurance Company was established in 1928 as a life and health insurer. In 1940, it expanded into reinsurance and group insurance. It became part of Nationale-Nederlanden in 1977. In 2004, Southland Life of ING Group was added to Life of Denver.
1979 - Acquisition of Life of Georgia (sold in 2004)
Life of Georgia insurance company was acquired by Nationale-Nederlanden in 1979, resulting in a considerable increase in activities in the United States.
1997 - Acquisition of Equitable of Iowa
Equitable Life Insurance Company of Iowa was founded in 1867 by 15 prominent citizens of Des Moines, Iowa. In 1888, co-founder F.M. Hubbell became president of the company. Many of his descendants would assume the same role, most recently Frederick S. Hubbell (1987), who retired as an Executive Board member of ING Group in 2006, and later joined the board of ING U.S., Inc. and Voya Financial, Inc.
1997 - Acquisition of Furman Selz
Furman Selz was founded in the U.S. in 1973 as a research-driven investment boutique. It was an employee-owned investment bank with offices throughout the United States and in London, Dublin and Tokyo. Furman Selz's investment banking, securities brokerage activities and asset management activities were integrated into various ING businesses.
2000 - Acquisition of ReliaStar
ReliaStar's predecessor Northwestern National Life Insurance Company (NWNL) was founded in 1885 in Minneapolis. It grew into one of the largest financial services companies in the U.S., offering life insurance, annuities, mutual funds, group insurance and reinsurance. In 1967, it purchased North Atlantic Life Insurance Company of Jericho, NY. In 1977, it acquired Northern Life Insurance Company of Seattle. These companies were unified under the ReliaStar brand in 1995. The company continued to grow through acquisitions, including Pilgrim Funds, a mutual funds business acquired in 1999.
2000 - Acquisition of Aetna Financial Services
Aetna Life Insurance Company was incorporated in Connecticut in 1853. From 1861 Aetna began to expand its product range turning the company into a multiple-line insurer. In order to focus mainly on health insurance, Aetna started selling parts of its business.
2008 - Acquisition of CitiStreet
CitiStreet was one of the nation's largest retirement plan recordkeepers, offering products and services for defined contribution, defined benefit and health and welfare plans. The "Citi" in CitiStreet originated as H.C. Copeland and Associates in 1976. Copeland administered and serviced retirement plans in the education, government and healthcare market segments. The "Street" in CitiStreet dates back to the mid-1970s, offering recordkeeping, fiduciary, investment-management, and communications services for a variety of plans. The two businesses were merged to become CitiStreet in April 2000.
2010 - ING Reinsurance and three broker-dealers of ING Advisors Network sold
As part of the company's "Back to Basics" effort, ING Group sold the U.S. group reinsurance business to Reinsurance Group of America, Inc. in January 2010. The following month, the company closed a deal with Lightyear Capital for the purchase of Financial Network Investment Corporation, Multi-Financial Securities Corporation, and PrimeVest Financial Services, which along with ING Financial Partners, Inc., collectively did business as ING Advisors Network. The three broker-dealers that were sold now operate at Cetera Financial Group.
2013 - New brand unveiled and IPO
After two years of transforming the strategy, financial profile, and culture of the company, ING U.S. begins trading as a public company on the NYSE under the ticker symbol VOYA, which represents its future brand identity, Voya Financial.
2014 - Transition to Voya Financial
Voya Financial, Inc. debuts in April, while the balance of the operations will transition to the new brand by the third quarter. Voya is an abstract name coined from the word ‘voyage.’ The name reflects momentum and optimism. It reminds us that a secure financial future is more than just reaching a destination; it’s about a journey to financial empowerment, and having positive experiences along the way.CN0221-15706-0316