April 23, 2014 12:04 PM ET

Insurance

Company Overview of ING Life Insurance and Annuity Company

Company Overview

ING Life Insurance and Annuity Company, together with its subsidiaries, operates as a stock life insurance company in the United States. The company provides qualified and nonqualified annuity contracts that include various funding and payout options for individuals and employer-sponsored retirement plans, as well as nonqualified deferred compensation plans and related services. Its products and services include deferred and immediate annuity contracts; programs offered to qualified plans and nonqualified deferred compensation plans that package administrative and record-keeping services along with various investment options, including affiliated and nonaffiliated mutual funds, and variable ...

One Orange Way

Windsor, CT 06095-4774

United States

Phone:

860-580-4646

Key Executives for ING Life Insurance and Annuity Company

Principal Executive Officer and Director
President and Director
Age: 57
Chief Financial Officer and Senior Vice President
President of Ing's US Annuity and Asset Sales Distribution
Age: 45
Chief Accounting Officer and Senior Vice President
Compensation as of Fiscal Year 2013.

ING Life Insurance and Annuity Company Key Developments

ING U.S. Inc., ING Life Insurance and Annuity Company, ING USA Annuity and Life Insurance Co., Midwestern United Life Insurance Company, ReliaStar Life Insurance Co., ReliaStar Life Insurance Co. of New York and Security Life of Denver Insurance Co. Execute Regulatory Settlement Agreement with Florida Office of Insurance Regulation

ING U.S. Inc. and its life insurance subsidiaries ING Life Insurance and Annuity Co., ING USA Annuity and Life Insurance Co., Midwestern United Life Insurance Co., ReliaStar Life Insurance Co., ReliaStar Life Insurance Co. of New York and Security Life of Denver Insurance Co., on August 13, 2013 executed a regulatory settlement agreement with the Florida Office of Insurance Regulation. The regulatory settlement agreement resolves a previously disclosed multistate market conduct examination regarding ING U.S. and its subsidiaries' settlement practices, procedures and policy administration relating to claims and use of the Social Security Death Master File, including their efforts to identify owners and beneficiaries of unclaimed benefits. The regulatory settlement agreement will become effective when 20 insurance departments have signed it. ING U.S. and its subsidiaries deny that it engaged in any wrongdoing or violated any law. Under the regulatory settlement agreement, ING U.S. and its subsidiaries will pay $10.7 million for the examination, compliance and monitoring costs associated with the exam. The regulatory settlement agreement establishes procedures for determining whether benefits may be payable under certain life insurance policies, annuity contracts and retained asset accounts. It also establishes procedures for seeking to locate and pay beneficiaries and owners.

The Department of Labor Slams ING Life Insurance and Annuity Company With $5.2 Million Fine

The Department of Labor announced that it had reached a settlement agreement with ING Life Insurance and Annuity Company (ILIAC) that provides for a $5.2 million payment to certain retirement plan clients adversely affected by ILIAC's failure to disclose investment gains achieved when the company failed to process requested transactions in a timely manner. The department alleged that ILIAC's failure to disclose its policy on reconciling transaction processing errors to retirement plan clients was a violation of the Employee Retirement Income Security Act.

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