VOYA FINANCIAL, INC. - VOYA STOCK NEWS

Voya Financial, Inc. (NYSE: VOYA) announced that its Chief Financial Officer, Michael S. Smith, will depart the company on Nov. 15, 2022, to pursue other opportunities. He will oversee the close and reporting of the company's third quarter, ending Sept. 30, 2022. The company expressed gratitude for Smith's contributions over his 13-year tenure, noting his role in Voya's business transformation and shareholder value creation. Voya will initiate a search for Smith's successor following his departure.

Voya Financial, Inc. (NYSE: VOYA) has been appointed as the new recordkeeper and service provider for the retirement savings plans of Memorial Health System in Gulfport, Mississippi. The transition, which occurred in September 2021, involves managing approximately $250 million in assets for 2,000 participants across various retirement plans. Voya is set to enhance the financial wellness of Memorial employees by offering industry-leading educational tools and resources. This partnership aligns with Voya's commitment to making a secure financial future accessible to all Americans.

Voya Financial reported second-quarter 2022 results with net income of $0.57 per diluted share. Adjusted operating earnings were $1.67 per share, reflecting a 18% increase year-over-year, driven by organic growth across all business segments. The company deployed approximately $300 million in excess capital, including share repurchases of $250 million. Wealth Solutions saw an 11.2% increase in recurring deposits to $12.8 billion, while Health Solutions reported a 9.3% increase in in-force premiums to $2.7 billion. Voya's total assets under management rose to approximately $330 billion following a significant asset transfer from Allianz Global Investors.

Voya Investment Management has announced the acquisition of Czech Asset Management, enhancing its private credit capabilities in the U.S. middle market. This strategic move aims to complement Voya's existing fixed income platform and expand its direct lending franchise. With over $5 billion in committed capital, CAM specializes in senior secured loans to U.S. middle market companies. The deal is expected to close in Q4 2022, integrating CAM's investment team while leveraging Voya's distribution capabilities.

Voya Financial, Inc. (NYSE: VOYA) has announced a common stock dividend of $0.20 per share for Q3 2022, payable on Sept. 29, 2022, to shareholders of record as of Aug. 26, 2022. Additionally, the board declared dividends on its preferred stock: $30.625 for Series A and $13.3750 for Series B, both payable on Sept. 15, 2022, to shareholders of record as of Aug. 26, 2022. Voya manages approximately $707 billion in total assets and serves over 14.3 million clients.

Voya Financial has enhanced its critical illness insurance to aid employees affected by severe infectious diseases like COVID-19. This new Infectious Condition Additional Benefit Rider offers flexibility and additional benefits, responding to rising employee concerns over medical costs. Research indicates nearly half of Americans are reconsidering workplace benefits due to the pandemic, prompting employers to explore additional voluntary coverage options. The Rider can complement existing policies, helping tackle evolving health and financial needs, which may also aid in employee recruitment and retention.

Voya Financial has successfully completed the transfer of significant assets and teams from Allianz Global Investors’ U.S. business to Voya Investment Management. This strategic partnership aims to enhance Voya IM's asset management capabilities, resulting in a client asset retention rate of approximately 95%. Following this transaction, Voya IM's assets under management have risen to around $322 billion. The partnership will also allow AllianzGI to distribute Voya IM's investment strategies internationally. Further financial details will be discussed in Voya's upcoming earnings call on August 3, 2022.