ING U.S., Inc. (VOYA) reported that its first quarter 2013 net loss to the common shareholder narrowed to $212.0 million, or $0.92 per share, from $505.2 million, or $2.20 per share in the year ago quarter.
The first-quarter of 2013 net loss to the common shareholder of $212 million was primarily driven by a net loss of $310 million in Closed Block Variable Annuity segment, including an after tax loss of $69 million due to a decline in nonperformance risk, which it considered a non-economic development.
The significant equity market appreciation during the latest-quarter, which was economically a positive development over the long term, resulted in accounting asymmetry for the Closed Block Variable Annuity segment, which more than offset the positive contributions of our operating earnings for the Ongoing Business.
Operating earnings after income taxes of $166.8 million, or $0.73 per share, compared to $155.9 million, or $0.68 per share, for first quarter 2012.
Ongoing Business operating earnings before income taxes was $285.4 million, up from $263.9 million last year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.