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Voya Financial, Inc. (NYSE: VOYA) is a premier provider of retirement, investment, and insurance solutions, serving approximately 13 million individual and institutional customers across the United States. Headquartered in New York, Voya operates with a clear mission to secure financial futures through its diverse product offerings and dedicated service.
Voya Financial operates through three main segments: Wealth Solutions, Investment Management, and Health Solutions. The Wealth Solutions segment, which generates roughly half of the company's revenue, provides tax-advantaged retirement savings plans and individual retirement accounts tailored to meet the needs of various customer groups. Investment Management offers a range of asset management services, while Health Solutions provides group life insurance plans and employee benefit products.
Recently, Voya has been recognized for its advanced digital capabilities and commitment to enhancing customer experiences. The company has partnered with Oracle to leverage Oracle Database@Azure, ensuring secure, high-performance cloud services to its clients. This move underscores Voya’s dedication to technological advancement and customer-centric service delivery.
With a workforce of approximately 6,500 employees and a strong focus on corporate responsibility, Voya is deeply committed to helping individuals and institutions achieve better retirement readiness. The company's vision, encapsulated in its tagline “America’s Retirement Company™”, emphasizes guiding Americans towards financial stability and security, one person, one family, and one institution at a time.
For more information about Voya Financial, Inc., visit voya.com.
Voya Financial (NYSE: VOYA) has announced the winners of its annual Voya Unsung Heroes program, aimed at recognizing innovative educators. The program awarded over $6 million since its inception. LeAnn Holden-Martin received $25,000 for her 'Sonny House Job Skills Program'; Emily Bennett won $10,000 for her 'Hydroponics Lab'; and Laura Wommack secured $5,000 for her 'Growing Science with Aquaponics.' Applications for the 2023 awards are open until April 28, 2023.
Voya Financial (NYSE: VOYA) has added the Pomona Investment Fund (PIF) as a new option within its nonqualified deferred compensation (NQDC) executive-benefit solution. This fund provides accredited investors access to private equity investments, aiming for long-term capital appreciation through seasoned private equity funds and direct opportunities. With over $711 billion in assets under management, Voya continues to innovate in workplace solutions, enhancing potential returns for participants in NQDC plans.
Voya Financial, Inc. reported a strong third quarter of 2022 with net income of $1.82 per diluted share, reflecting a 58% increase compared to the same quarter in 2021. Adjusted operating earnings reached $2.30 per diluted share, driven by 12% to 17% EPS growth expectations for the year. Notable metrics include a 10.4% rise in Wealth Solutions deposits to $13 billion and a 9.7% increase in Health Solutions premiums to $2.8 billion. Voya's acquisition of Benefitfocus will enhance its workplace benefits offering, expected to close in Q1 2023.
Voya Financial has announced its acquisition of Benefitfocus for $10.50 per share, totaling approximately $570 million, including debt. This acquisition aims to strengthen Voya's health and wealth solutions by enhancing benefits administration capabilities. The deal is expected to be immediately accretive to Voya's adjusted operating earnings per share, even prior to realizing future revenue synergies. Following the acquisition, Voya's customer base will expand to approximately 38 million individuals, reinforcing its presence in the workplace benefits sector.
Voya Financial, Inc. (NYSE: VOYA) announced a $0.20 per share dividend for Q4 2022, payable on Dec. 29, 2022, to shareholders on record as of Nov. 28, 2022. Additionally, a preferred stock dividend of $13.3750 per share will be distributed, equivalent to $0.334375 per depositary share, payable on Dec. 15, 2022, also to shareholders on record as of Nov. 28, 2022. Voya manages approximately $644 billion in assets and serves 14.3 million clients, emphasizing its commitment to responsible business practices.
Voya Investment Management has been chosen by Allstate to manage its $850 million commercial mortgage portfolio, effective Nov. 14, 2022. Allstate retains ownership while Voya IM takes over management through a separately managed account. Approximately seven Allstate employees will join Voya’s team to handle this portfolio. Allstate's Managing Director emphasized the need for Voya’s proven expertise in commercial mortgage management, citing recent sales of assets making internal management less optimal. Voya manages approximately $330 billion in assets across various strategies.
Voya Financial is celebrating National Disability Employment Awareness Month with a virtual concert featuring Mandy Harvey and other artists with disabilities, streaming on YouTube from Oct. 20 at 7 p.m. ET. The concert, held on Oct. 2 at the Kennedy Center, promotes disability inclusion in the workplace. Artists include Paul Gavin and Blessing Offor, showcasing their talents. Voya emphasizes the importance of hiring individuals with disabilities and continues its commitment through initiatives like Voya Cares®.
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