July 12, 2014 10:55 PM ET

Insurance

Company Overview of ING USA Annuity and Life Insurance Company

Company Overview

ING USA Annuity and Life Insurance Company, a stock life insurance company, provides financial products and services in the United States. The company offers various insurance products, including immediate and deferred fixed annuities primarily to individual customers. It distributes its fixed annuity products through national and regional brokerages and securities firms, independent broker-dealers, banks, life insurance companies with captive agency sales forces, independent insurance agents, independent marketing organizations, and affiliated broker-dealers. The company also offers guaranteed investment contracts and funding agreements (GICs) primarily to institutional investors and corpor...

1475 Dunwoody Drive

West Chester, PA 19380-1478

United States

491 Employees

Phone:

610-425-3400

Key Executives for ING USA Annuity and Life Insurance Company

Principal Executive Officer
Age: 61
President and Director
Age: 51
Chief Financial Officer and Senior Vice President
Chief Accounting Officer and Senior Vice President
Executive Vice President and Director
Age: 59
Compensation as of Fiscal Year 2014.

ING USA Annuity and Life Insurance Company Key Developments

ING USA Annuity and Life Insurance Company Enters into a 10 Year Unsecured Reciprocal Loan Agreement with ING U.S., Inc

On January 14, 2014, ING USA Annuity and Life Insurance Company entered into a new, ten-year unsecured reciprocal loan agreement, effective January 14, 2014 with ING U.S. Inc., its indirect parent company. The Agreement replaced the reciprocal loan agreement dated as of January 1, 2004 between the Company and ING U.S. that expired by its terms on January 14, 2014. The purpose of the Agreement is to facilitate the financing of the short term cash requirements of each party to the Agreement by permitting each party to extend financing to, and borrow from, the other party. The Agreement provides that the maximum outstanding amount that the company may loan to ING U.S., or that ING U.S. may loan to the company, may not exceed 3% of the statutory admitted assets of the company as of December 31, 2013 of the applicable preceding year. Interest on any borrowing by the Company or ING U.S. under the Agreement will be charged at a per annum rate which is based on the prevailing market rate for similar third-party borrowings or securities with a similar credit quality and duration. The maximum term of any loan made under the Agreement shall be two hundred seventy (270) days.

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.

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