Voya Financial announces fourth-quarter and full-year 2024 results
Voya Financial (NYSE: VOYA) reported its Q4 and full-year 2024 results, with Q4 net income of $93 million ($0.94 per share) and adjusted operating earnings of $138 million ($1.40 per share). Full-year net income reached $626 million ($6.17 per share) with adjusted operating earnings of $736 million ($7.25 per share).
The company demonstrated strong performance in Wealth Solutions and Investment Management, though offset by higher loss ratios in Health Solutions. Notable achievements include returning $800 million to shareholders through dividends and buybacks, generating $650 million in excess capital, and completing the OneAmerica Financial's retirement plan business acquisition.
Wealth Solutions saw significant growth with total client assets reaching $612 billion (up 12% YoY), while Investment Management generated net inflows of $12.5 billion for the year. However, Health Solutions experienced challenges, particularly in Stop Loss business, leading to implementation of rate increases and strengthened underwriting.
Voya Financial (NYSE: VOYA) ha riportato i risultati del Q4 e dell'intero anno 2024, con un utile netto di $93 milioni ($0.94 per azione) nel Q4 e un guadagno operativo rettificato di $138 milioni ($1.40 per azione). L'utile netto dell'intero anno ha raggiunto $626 milioni ($6.17 per azione) con guadagni operativi rettificati di $736 milioni ($7.25 per azione).
L'azienda ha dimostrato solide performance nelle Soluzioni Patrimoniali e nella Gestione degli Investimenti, anche se compensate da rapporti di perdita più elevati nelle Soluzioni Sanitarie. Tra i risultati notevoli, si segnala il ritorno di $800 milioni agli azionisti attraverso dividendi e riacquisti, la generazione di $650 milioni in capitale in eccesso e il completamento dell'acquisizione del business dei piani pensionistici di OneAmerica Financial.
Le Soluzioni Patrimoniali hanno visto una crescita significativa con un totale di attivi dei clienti che ha raggiunto $612 miliardi (in aumento del 12% su base annua), mentre la Gestione degli Investimenti ha generato afflussi netti di $12.5 miliardi per l'anno. Tuttavia, le Soluzioni Sanitarie hanno affrontato sfide, in particolare nel business delle Stop Loss, portando all'implementazione di aumenti tarifari e a un rafforzamento della sottoscrizione.
Voya Financial (NYSE: VOYA) informó sobre sus resultados del cuarto trimestre y del año completo 2024, con un ingreso neto de $93 millones ($0.94 por acción) en el cuarto trimestre y ganancias operativas ajustadas de $138 millones ($1.40 por acción). El ingreso neto del año completo alcanzó los $626 millones ($6.17 por acción) con ganancias operativas ajustadas de $736 millones ($7.25 por acción).
La empresa mostró un fuerte desempeño en Soluciones Patrimoniales y Gestión de Inversiones, aunque esto fue compensado por ratios de pérdida más altos en Soluciones de Salud. Logros notables incluyen el retorno de $800 millones a los accionistas a través de dividendos y recompras, la generación de $650 millones en capital excedente y la finalización de la adquisición del negocio de planes de jubilación de OneAmerica Financial.
Las Soluciones Patrimoniales vieron un crecimiento significativo con activos totales de clientes alcanzando $612 mil millones (un aumento del 12% interanual), mientras que la Gestión de Inversiones generó flujos netos de $12.5 mil millones para el año. Sin embargo, las Soluciones de Salud enfrentaron desafíos, particularmente en el negocio de Stop Loss, lo que llevó a la implementación de aumentos de tarifas y un fortalecimiento de la suscripción.
보야 파이낸셜 (NYSE: VOYA)가 2024년 4분기 및 연간 실적을 발표했으며, 4분기 순이익은 9,300만 달러(주당 0.94 달러), 조정 후 운영 이익은 1억 3,800만 달러(주당 1.40 달러)로 기록되었습니다. 연간 순이익은 6억 2,600만 달러(주당 6.17 달러)이며, 조정 후 운영 이익은 7억 3,600만 달러(주당 7.25 달러)에 달했습니다.
회사는 자산 관리 및 투자 관리 분야에서 강력한 성과를 보였지만, 건강 솔루션 부문에서는 손실 비율이 증가하는 바람에 상쇄되었습니다. 주목할 만한 성과로는 배당금 및 자사주 매입을 통해 주주에게 8억 달러를 반환하고, 6억 5천만 달러의 초과 자본을 창출하며, 원아메리카 파이낸셜의 퇴직 연금 사업 인수를 완료한 것을 포함합니다.
자산 관리 부문은 고객 자산 총액이 6,120억 달러에 도달하며(전년 대비 12% 증가), 투자 관리 부문은 연간 125억 달러의 순 유입을 기록하는 등 상당한 성장을 보였습니다. 그러나 건강 솔루션 부문에서는 Stop Loss 사업에서 어려움을 겪어 할증료 인상과 강화된 언더라이팅을 시행하게 되었습니다.
Voya Financial (NYSE: VOYA) a annoncé ses résultats du quatrième trimestre et de l'année 2024, avec un bénéfice net de 93 millions de dollars (0,94 dollar par action) pour le quatrième trimestre et un bénéfice opérationnel ajusté de 138 millions de dollars (1,40 dollar par action). Le bénéfice net pour l'année entière a atteint 626 millions de dollars (6,17 dollars par action) avec un bénéfice opérationnel ajusté de 736 millions de dollars (7,25 dollars par action).
L'entreprise a démontré une forte performance dans les Solutions Patrimoniales et la Gestion des Investissements, bien que cela ait été compensé par des taux de perte plus élevés dans les Solutions Santé. Parmi les réalisations notables, on peut citer le retour de 800 millions de dollars aux actionnaires par le biais de dividendes et de rachat d'actions, la génération de 650 millions de dollars en capital excédentaire, et l'achèvement de l'acquisition de l'activité de plans de retraite de OneAmerica Financial.
Les Solutions Patrimoniales ont connu une croissance significative avec des actifs totaux des clients atteignant 612 milliards de dollars (en hausse de 12 % par rapport à l'année précédente), tandis que la Gestion des Investissements a généré des afflux nets de 12,5 milliards de dollars pour l'année. Cependant, les Solutions Santé ont rencontré des défis, en particulier dans le domaine des Stop Loss, ce qui a conduit à la mise en œuvre d'augmentations de tarifs et à un renforcement de la souscription.
Voya Financial (NYSE: VOYA) hat die Ergebnisse des 4. Quartals und des gesamten Jahres 2024 bekannt gegeben, mit einem Nettogewinn von 93 Millionen USD (0,94 USD pro Aktie) im 4. Quartal und bereinigten operativen Ergebnissen von 138 Millionen USD (1,40 USD pro Aktie). Der Nettogewinn des gesamten Jahres erreichte 626 Millionen USD (6,17 USD pro Aktie) mit bereinigten operativen Ergebnissen von 736 Millionen USD (7,25 USD pro Aktie).
Das Unternehmen zeigte eine starke Leistung in den Vermögenslösungen und dem Investmentmanagement, wurde jedoch durch höhere Verlustquoten im Gesundheitsbereich beeinträchtigt. Zu den bemerkenswerten Erfolgen gehören die Rückführung von 800 Millionen USD an die Aktionäre durch Dividenden und Rückkäufe, die Generierung von 650 Millionen USD an überschüssigem Kapital und der Abschluss der Übernahme des Rentenplan-Geschäfts von OneAmerica Financial.
Die Vermögenslösungen verzeichneten ein signifikantes Wachstum mit einem Gesamtvermögen der Kunden von 612 Milliarden USD (ein Anstieg von 12 % im Jahresvergleich), während das Investmentmanagement im Jahr einen Nettoneuzufluss von 12,5 Milliarden USD generierte. Gesundheitslösungen hatten jedoch mit Herausforderungen zu kämpfen, insbesondere im Bereich Stop-Loss, was zu einer Implementierung von Tariferhöhungen und einer verstärkten Risikoprüfung führte.
- Generated $650 million in excess capital during 2024
- Returned $800 million to shareholders through dividends and buybacks
- Wealth Solutions assets increased 12% YoY to $612 billion
- Investment Management achieved $12.5 billion in net inflows (4.4% organic growth)
- Wealth Solutions full-year adjusted operating earnings increased to $820M from $632M
- Q4 net income declined to $93M from $118M YoY
- Q4 adjusted operating earnings decreased to $138M from $174M YoY
- Health Solutions reported Q4 operating loss of $102M vs. $44M profit prior year
- Health Solutions full-year earnings dropped to $40M from $315M
- Higher loss ratios in Stop Loss business requiring rate increases
Insights
Voya's 2024 results reveal a tale of strategic success tempered by operational challenges. The Wealth Solutions segment demonstrated remarkable strength with a
The Investment Management division's organic growth of
However, the Health Solutions segment's challenges are concerning, with margins collapsing from
The completion of the OneAmerica acquisition, expanding service to 60,000 plans and 8 million participants, significantly strengthens Voya's market position in retirement services. The company's capital management remains robust, with
-
Fourth-quarter 2024 net income available to common shareholders of
$93 million $0.94 $138 million $1.40 -
Full-year 2024 net income available to common shareholders of
$626 million $6.17 $736 million $7.25 - Strong results in Wealth Solutions and Investment Management for the fourth quarter and full year were offset by higher loss ratios in Health Solutions.
-
Returned
$800 million - Completed acquisition of OneAmerica Financial's full-service retirement plan business on Jan. 2, 2025.
- Invested capital in Sconset Re to further Investment Management's leading position in third-party insurance asset management.
“We are pleased to report strong revenue growth, margin expansion and commercial momentum in our Wealth Solutions and Investment Management businesses for the fourth-quarter and full-year 2024,” said Heather Lavallee, chief executive officer, Voya Financial. “These results were offset by higher loss ratios in Health Solutions, primarily in our Stop Loss business where we have executed meaningful rate increases and strengthened underwriting risk selection. As a result, we expect improved profitability in our Stop Loss business in 2025.”
“We generated
“We began 2025 by welcoming the OneAmerica retirement associates, plans, and participants to Voya. Our Wealth Solutions business will now serve approximately 60,000 plans and nearly 8 million participants. We are excited about the future and our shared purpose: together we fight for everyone’s opportunity for a better financial future.”
| ______________________________ |
| 1 This press release includes certain non-GAAP financial measures, including adjusted operating earnings. More information on notable items in the company’s financial results, non-GAAP measures, and reconciliations to the most comparable |
Fourth-Quarter 2024 Consolidated Results
Fourth-quarter 2024 net income available to common shareholders was
Fourth-quarter 2024 after-tax adjusted operating earnings were
Full-Year 2024 Consolidated Results
Full-year 2024 net income available to common shareholders was
Full-year 2024 after-tax adjusted operating earnings were
Business Segment Results
Wealth Solutions
Wealth Solutions fourth-quarter 2024 pre-tax adjusted operating earnings were
Wealth Solutions full-year 2024 pre-tax adjusted operating earnings were
Net revenues for the year ended Dec. 31, 2024 grew
Adjusted operating margin for the year ended Dec. 31, 2024 was
Excluding notable items, for the year ended Dec. 31, 2024, net revenues grew
Total client assets as of Dec. 31, 2024 were
Health Solutions
Health Solutions had a fourth-quarter 2024 pre-tax adjusted operating loss of
Health Solutions full-year 2024 pre-tax adjusted operating earnings were
Net revenues for the year ended Dec. 31, 2024 declined
Excluding notable items, for the year ended Dec. 31, 2024, net revenues declined
Health Solutions fourth-quarter 2024 annualized in-force premiums and fees grew
Investment Management
Investment Management fourth-quarter 2024 pre-tax adjusted operating earnings, excluding Allianz's noncontrolling interest, were
Investment Management full-year 2024 pre-tax adjusted operating earnings were
Net revenues for the year ended Dec. 31, 2024 grew
Adjusted operating margin for the year ended Dec. 31, 2024 was
Excluding notable items, for the year ended Dec. 31, 2024, net revenues grew
Investment Management generated net inflows of
Corporate
Corporate fourth-quarter 2024 pre-tax adjusted operating losses, excluding Allianz's noncontrolling interest, were
Capital
For the full-year 2024, the company generated
During the fourth-quarter 2024, the company deployed approximately
Additional Financial Information and Earnings Call
More detailed financial information can be found in the company’s quarterly investor supplement, which is available on Voya’s investor relations website, investors.voya.com. In addition, Voya will host a conference call on Wednesday, Feb. 5, 2025, at 10 a.m. ET, to discuss the company’s fourth-quarter and full-year 2024 results. The call and slide presentation can be accessed via the company’s investor relations website at investors.voya.com. A replay of the call will be available on the company’s investor relations website, investors.voya.com, starting at 1 p.m. ET on Feb. 5, 2025.
About Voya Financial
Voya Financial, Inc. (NYSE: VOYA) is a leading health, wealth and investment company with approximately 10,000 employees who are focused on achieving Voya’s aspirational vision: "Clearing your path to financial confidence and a more fulfilling life." Through products, solutions and technologies, Voya helps its approximately 15.7 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company and a leading benefits administration provider, extends the reach of Voya’s workplace benefits and savings offerings by engaging directly with approximately 11.9 million employees in the
Use of Non-GAAP Financial Measures
We believe that Adjusted operating earnings before income taxes is a meaningful measure used by management to evaluate our business and segment performance. This measure enhances the understanding of our financial results by focusing on the operating performance and trends of the underlying core business segments. It excludes results from exited businesses and items that tend to be highly variable from period to period based on capital market conditions or other factors which distort the ability to make a meaningful evaluation of our segments. We use the same accounting policies and procedures to measure segment Adjusted operating earnings before income taxes as we do for the directly comparable
- Net investment gains (losses);
- Income (loss) related to businesses exited or to be exited through reinsurance or divestment;
- Income (loss) attributable to noncontrolling interests to which we are not economically entitled;
- Dividend payments made to preferred shareholders are included as reductions to reflect the Adjusted operating earnings before income taxes that are available to common shareholders;
-
Other adjustments may include the following items:
- Income (loss) related to early extinguishment of debt;
- Impairment of goodwill and intangible assets;
- Amortization of acquisition-related intangible assets as well as contingent consideration fair value adjustments;
- Expected return on plan assets net of interest costs associated with our qualified defined benefit pension plan and immediate recognition of net actuarial gains (losses) related to all of our pension and other postretirement benefit obligations and gains (losses) from plan amendments and curtailments; and
- Other items not indicative of normal operations or performance of our segments or that may be related to events such as capital or organizational restructurings, including certain costs related to debt and equity offerings, acquisition / merger integration expenses, severance and other third-party expenses associated with such activities, and expenses attributable to vacant real estate.
Sources of Earnings
We analyze our segment performance based on the sources of earnings. We believe that this supplemental information is useful because we use it to analyze our business and it can help investors understand the main drivers of Adjusted operating earnings before income taxes. The sources of earnings include:
- Investment spread and other investment income.
- Fee-based margin.
- Net underwriting gain (loss).
- Administrative expenses.
- Premium taxes, fees and assessments.
- Net commissions.
- DAC/VOBA and other intangibles amortization.
Net Revenue and Adjusted Operating Margin
- Adjusted operating margin is defined as Adjusted operating earnings before income taxes divided by net revenue.
- Net revenue is the sum of investment spread and other investment income, fee-based margin, and net underwriting gain (loss).
- We also report net revenue and adjusted operating margin excluding notable items, such as alternative investment income above or below our long-term expectations.
- We report net revenue and adjusted operating margin excluding notable items since they provide the main drivers for Adjusted operating earnings before income taxes excluding the effects of items that are not expected to recur at the same level.
Forward-Looking and Other Cautionary Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company does not assume any obligation to revise or update these statements to reflect new information, subsequent events or changes in strategy. Forward-looking statements include statements relating to future developments in our business or expectations for our future financial performance and any statement not involving a historical fact. Forward-looking statements use words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and other words and terms of similar meaning in connection with a discussion of future operating or financial performance. Actual results, performance or events may differ materially from those projected in any forward-looking statement due to, among other things, (i) global market risks, including general economic conditions, our ability to manage such risks, and interest rates; (ii) liquidity and credit risks, including financial strength or credit ratings downgrades, requirements to post collateral, and availability of funds through dividends from our subsidiaries or lending programs; (iii) strategic and business risks, including our ability to maintain market share, achieve desired results from our acquisitions and dispositions, or otherwise manage our third-party relationships; (iv) investment risks, including the ability to achieve desired returns or liquidate certain assets; (v) operational risks, including cybersecurity and privacy failures and our dependence on third parties; and (vi) tax, regulatory and legal risks, including limits on our ability to use deferred tax assets, changes in law, regulation or accounting standards, and our ability to comply with regulations. Factors that may cause actual results to differ from those in any forward-looking statement also include those described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) – Trends and Uncertainties” in our Annual Report on Form 10-K for the year ended Dec. 31, 2024 to be filed with the SEC on or before Mar. 3, 2025.
VOYA-IR VOYA-CF
Consolidated Statement of Operations |
|||||||||||||
|
Three Months Ended |
|
Twelve Months Ended |
||||||||||
(in millions USD, except per share) |
12/31/2024 |
12/31/2023 |
|
12/31/2024 |
12/31/2023 |
||||||||
|
|
|
|
|
|
||||||||
Revenues |
|
|
|
|
|
||||||||
Net investment income |
$ |
521 |
|
$ |
522 |
|
|
$ |
2,074 |
|
$ |
2,159 |
|
Fee income |
|
543 |
|
|
489 |
|
|
|
2,113 |
|
|
1,916 |
|
Premiums |
|
790 |
|
|
673 |
|
|
|
3,176 |
|
|
2,717 |
|
Net gains (losses) |
|
(52 |
) |
|
7 |
|
|
|
(27 |
) |
|
(72 |
) |
Other revenues |
|
134 |
|
|
82 |
|
|
|
423 |
|
|
327 |
|
Income (loss) related to consolidated investment entities |
|
74 |
|
|
46 |
|
|
|
291 |
|
|
301 |
|
Total revenues |
|
2,010 |
|
|
1,819 |
|
|
|
8,050 |
|
|
7,348 |
|
Benefits and expenses |
|
|
|
|
|
||||||||
Interest credited and other benefits to contract owners/policyholders |
|
(987 |
) |
|
(804 |
) |
|
|
(3,619 |
) |
|
(3,036 |
) |
Operating expenses |
|
(756 |
) |
|
(773 |
) |
|
|
(3,082 |
) |
|
(3,096 |
) |
Net amortization of DAC/VOBA |
|
(56 |
) |
|
(57 |
) |
|
|
(223 |
) |
|
(230 |
) |
Interest expense |
|
(35 |
) |
|
(30 |
) |
|
|
(124 |
) |
|
(132 |
) |
Operating expenses related to consolidated investment entities |
|
(56 |
) |
|
(53 |
) |
|
|
(203 |
) |
|
(176 |
) |
Total benefits and expenses |
|
(1,890 |
) |
|
(1,717 |
) |
|
|
(7,251 |
) |
|
(6,670 |
) |
Income (loss) before income taxes |
|
120 |
|
|
102 |
|
|
|
799 |
|
|
678 |
|
Income tax expense (benefit) |
|
(1 |
) |
|
(17 |
) |
|
|
57 |
|
|
(51 |
) |
Net income (loss) |
|
121 |
|
|
119 |
|
|
|
742 |
|
|
729 |
|
Less: Net income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest |
|
24 |
|
|
(3 |
) |
|
|
75 |
|
|
104 |
|
Net income (loss) available to Voya Financial, Inc. |
|
97 |
|
|
122 |
|
|
|
667 |
|
|
625 |
|
Less: Preferred stock dividends |
|
4 |
|
|
4 |
|
|
|
41 |
|
|
36 |
|
Net income (loss) available to Voya Financial, Inc.'s common shareholders |
$ |
93 |
|
$ |
118 |
|
|
$ |
626 |
|
$ |
589 |
|
Net income (loss) available to Voya Financial, Inc.'s common shareholders per common share: |
|
|
|
|
|
||||||||
Basic |
$ |
0.97 |
|
$ |
1.13 |
|
|
$ |
6.31 |
|
$ |
5.74 |
|
Diluted |
$ |
0.94 |
|
$ |
1.10 |
|
|
$ |
6.17 |
|
$ |
5.42 |
|
Reconciliation of Net Income (Loss) to Adjusted Operating Earnings and Earnings Per Share (Diluted) |
|||||||||||||
|
Three Months Ended |
||||||||||||
(in millions USD, except per share) |
12/31/2024 |
|
12/31/2023 |
||||||||||
|
After-tax (1) |
Per share |
|
After-tax (1) |
Per share |
||||||||
Net Income (loss) available to Voya Financial, Inc.'s common shareholders |
$ |
93 |
|
$ |
0.94 |
|
|
$ |
118 |
|
$ |
1.10 |
|
Less: |
|
|
|
|
|
||||||||
Net investment gains (losses) |
|
— |
|
|
— |
|
|
|
(8 |
) |
|
(0.08 |
) |
Income (loss) related to businesses exited or to be exited through reinsurance or divestment |
|
(17 |
) |
|
(0.17 |
) |
|
|
(38 |
) |
|
(0.36 |
) |
Other adjustments (2) |
|
(27 |
) |
|
(0.28 |
) |
|
|
(10 |
) |
|
(0.09 |
) |
Adjusted operating earnings |
$ |
138 |
|
$ |
1.40 |
|
|
$ |
174 |
|
$ |
1.63 |
|
Less: |
|
|
|
|
|
||||||||
Alternative investment income and prepayment fees above (below) long-term expectations net of variable compensation |
|
(10 |
) |
|
(0.11 |
) |
|
|
(36 |
) |
|
(0.34 |
) |
Adjusted operating earnings excluding notable items |
$ |
148 |
|
$ |
1.50 |
|
|
$ |
210 |
|
$ |
1.97 |
|
| Note: Totals may not sum due to rounding. |
| (1) For adjusted operating earnings, we apply a |
| (2) Primarily consists of acquisition and integration costs associated with recent transactions and amortization of acquisition-related intangible assets. For the three months ended Dec. 31, 2024, also includes a |
Reconciliation of Net Income (Loss) to Adjusted Operating Earnings and Earnings Per Share (Diluted) |
|||||||||||||
|
Twelve Months Ended |
||||||||||||
(in millions USD, except per share) |
12/31/2024 |
|
12/31/2023 |
||||||||||
|
After-tax (1) |
Per share |
|
After-tax (1) |
Per share |
||||||||
Net Income (loss) available to Voya Financial, Inc.'s common shareholders |
$ |
626 |
|
$ |
6.17 |
|
|
$ |
589 |
|
$ |
5.42 |
|
Less: |
|
|
|
|
|
||||||||
Net investment gains (losses) (2) |
|
39 |
|
|
0.39 |
|
|
|
(2 |
) |
|
(0.02 |
) |
Income (loss) related to businesses exited or to be exited through reinsurance or divestment (3) |
|
(75 |
) |
|
(0.74 |
) |
|
|
(44 |
) |
|
(0.40 |
) |
Other adjustments (4) |
|
(75 |
) |
|
(0.74 |
) |
|
|
(128 |
) |
|
(1.18 |
) |
Adjusted operating earnings |
$ |
736 |
|
$ |
7.25 |
|
|
$ |
763 |
|
$ |
7.02 |
|
Less: |
|
|
|
|
|
||||||||
Alternative investment income and prepayment fees above (below) long-term expectations net of variable compensation |
|
(54 |
) |
|
(0.53 |
) |
|
|
(97 |
) |
|
(0.89 |
) |
Other (5) |
|
— |
|
|
— |
|
|
|
(13 |
) |
|
(0.12 |
) |
Adjusted operating earnings excluding notable items |
$ |
790 |
|
$ |
7.79 |
|
|
$ |
873 |
|
$ |
8.03 |
|
| Note: Totals may not sum due to rounding. |
| (1) For adjusted operating earnings, we apply a |
| (2) Net investment gains include a |
| (3) Includes tax benefits of |
| (4) Primarily consists of acquisition and integration costs associated with recent transactions and amortization of acquisition-related intangible assets. For the twelve months ended Dec. 31, 2024, also includes |
| (5) Twelve months ended Dec. 31, 2023, includes changes in certain legal and other reserves not expected to recur at the same level. |
Adjusted Operating Earnings and Notable Items |
|||||||||
Three Months Ended Dec. 31, 2024 |
|||||||||
(in millions USD, except per share) |
Amounts
|
Alternative investment income
|
Amounts
|
||||||
|
a |
b |
c = a - b |
||||||
Adjusted operating earnings |
|
|
|
||||||
Wealth Solutions |
$ |
210 |
|
$ |
(10 |
) |
$ |
220 |
|
Health Solutions |
|
(102 |
) |
|
(1 |
) |
|
(102 |
) |
Investment Management |
|
66 |
|
|
(2 |
) |
|
69 |
|
Corporate |
|
(27 |
) |
|
— |
|
|
(27 |
) |
Adjusted operating earnings before income taxes |
|
147 |
|
|
(13 |
) |
|
160 |
|
Income taxes (2) |
|
9 |
|
|
(3 |
) |
|
12 |
|
Adjusted operating earnings after income taxes |
$ |
138 |
|
$ |
(10 |
) |
$ |
148 |
|
Adjusted operating earnings per share |
|
1.40 |
|
|
(0.11 |
) |
|
1.50 |
|
| Note: Totals may not sum due to rounding. |
| (1) Amount by which Investment income from alternative investments and prepayments exceeds or is less than our long-term expectations, net of variable compensation. Long-term expectation for alternative investments is a |
| (2) For adjusted operating earnings, we apply a |
Adjusted Operating Earnings and Notable Items |
|||||||||
Three Months Ended Dec. 31, 2023 |
|||||||||
(in millions USD, except per share) |
Amounts
|
Alternative investment income
|
Amounts
|
||||||
|
a |
b |
c = a - b |
||||||
Adjusted operating earnings |
|
|
|
||||||
Wealth Solutions |
$ |
147 |
|
$ |
(39 |
) |
$ |
187 |
|
Health Solutions |
|
44 |
|
|
(5 |
) |
|
48 |
|
Investment Management |
|
45 |
|
|
(2 |
) |
|
47 |
|
Corporate |
|
(34 |
) |
|
— |
|
|
(34 |
) |
Adjusted operating earnings before income taxes |
|
202 |
|
|
(46 |
) |
|
248 |
|
Income taxes (2) |
|
28 |
|
|
(10 |
) |
|
38 |
|
Adjusted operating earnings after income taxes |
$ |
174 |
|
$ |
(36 |
) |
$ |
210 |
|
Adjusted operating earnings per share |
|
1.63 |
|
|
(0.34 |
) |
|
1.97 |
|
| Note: Totals may not sum due to rounding. |
| (1) Amount by which Investment income from alternative investments and prepayments exceeds or is less than our long-term expectations, net of variable compensation. Long-term expectation for alternative investments is a |
| (2) For adjusted operating earnings, we apply a |
Adjusted Operating Earnings and Notable Items |
|||||||||
Twelve Months Ended Dec. 31, 2024 |
|||||||||
(in millions USD, except per share) |
Amounts
|
Alternative investment income
|
Amounts
|
||||||
|
a |
b |
c = a - b |
||||||
Adjusted operating earnings |
|
|
|
||||||
Wealth Solutions |
$ |
820 |
|
$ |
(53 |
) |
$ |
873 |
|
Health Solutions |
|
40 |
|
|
(7 |
) |
|
47 |
|
Investment Management |
|
213 |
|
|
(8 |
) |
|
221 |
|
Corporate |
|
(203 |
) |
|
— |
|
|
(203 |
) |
Adjusted operating earnings before income taxes |
|
870 |
|
|
(68 |
) |
|
939 |
|
Income taxes (2) |
|
135 |
|
|
(14 |
) |
|
149 |
|
Adjusted operating earnings after income taxes |
$ |
736 |
|
$ |
(54 |
) |
$ |
790 |
|
Adjusted operating earnings per share |
|
7.25 |
|
|
(0.53 |
) |
|
7.79 |
|
| Note: Totals may not sum due to rounding. |
| (1) Amount by which Investment income from alternative investments and prepayments exceeds or is less than our long-term expectations, net of variable compensation. Long-term expectation for alternative investments is a |
| (2) For adjusted operating earnings, we apply a |
Adjusted Operating Earnings and Notable Items |
||||||||||||
Twelve Months Ended Dec. 31, 2023 |
||||||||||||
(in millions USD, except per share) |
Amounts
|
Alternative
|
Other (2) |
Amounts
|
||||||||
|
a |
b |
c |
d = a - b - c |
||||||||
Adjusted operating earnings |
|
|
|
|
||||||||
Wealth Solutions |
$ |
632 |
|
$ |
(110 |
) |
$ |
— |
|
$ |
742 |
|
Health Solutions |
|
315 |
|
|
(10 |
) |
|
(16 |
) |
|
341 |
|
Investment Management |
|
177 |
|
|
(3 |
) |
|
— |
|
|
180 |
|
Corporate |
|
(207 |
) |
|
— |
|
|
— |
|
|
(207 |
) |
Adjusted operating earnings before income taxes |
|
916 |
|
|
(123 |
) |
|
(16 |
) |
|
1,055 |
|
Income taxes (3) |
|
153 |
|
|
(26 |
) |
|
(3 |
) |
|
182 |
|
Adjusted operating earnings after income taxes |
$ |
763 |
|
$ |
(97 |
) |
$ |
(13 |
) |
$ |
873 |
|
Adjusted operating earnings per share |
|
7.02 |
|
|
(0.89 |
) |
|
(0.12 |
) |
|
8.03 |
|
| Note: Totals may not sum due to rounding. |
| (1) Amount by which Investment income from alternative investments and prepayments exceeds or is less than our long-term expectations, net of variable compensation. Long-term expectation for alternative investments is a |
| (2) Includes changes in certain legal and other reserves not expected to recur at the same level. |
| (3) For adjusted operating earnings, we apply a |
Net Revenue, Adjusted Operating Margin, and Notable Items |
|||||||||
Twelve Months Ended Dec. 31, 2024 |
|||||||||
(in millions USD) |
Amounts
|
Alternative investment income
|
Amounts
|
||||||
|
a |
b |
c = a - b |
||||||
Net revenue |
|
|
|
||||||
Wealth Solutions |
$ |
2,056 |
|
$ |
(53 |
) |
$ |
2,109 |
|
Health Solutions |
|
975 |
|
|
(7 |
) |
|
982 |
|
Investment Management |
|
982 |
|
|
(9 |
) |
|
991 |
|
Total net revenue |
$ |
4,012 |
|
$ |
(69 |
) |
$ |
4,082 |
|
|
|
|
|
||||||
Adjusted operating margin |
|
|
|
||||||
Wealth Solutions |
|
39.9 |
% |
|
(1.5 |
)% |
|
41.4 |
% |
Health Solutions |
|
4.1 |
% |
|
(0.7 |
)% |
|
4.8 |
% |
Investment Management |
|
28.3 |
% |
|
(0.6 |
)% |
|
28.9 |
% |
Adjusted operating margin, excluding Corporate |
|
28.4 |
% |
|
(1.2 |
)% |
|
29.6 |
% |
| Note: Totals may not sum due to rounding. |
| (1) Amount by which Investment income from alternative investments and prepayments exceeds or is less than our long-term expectations, net of variable compensation. Long-term expectation for alternative investments is a |
Net Revenue, Adjusted Operating Margin, and Notable Items |
||||||||||||
Twelve Months Ended Dec. 31, 2023 |
||||||||||||
(in millions USD) |
Amounts
|
Alternative
|
Other (2) |
Amounts
|
||||||||
|
a |
b |
c |
d = a - b - c |
||||||||
Net revenue |
|
|
|
|
||||||||
Wealth Solutions |
$ |
1,881 |
|
$ |
(110 |
) |
$ |
— |
|
$ |
1,991 |
|
Health Solutions |
|
1,185 |
|
|
(10 |
) |
|
(16 |
) |
|
1,212 |
|
Investment Management |
|
916 |
|
|
(2 |
) |
|
— |
|
|
918 |
|
Total net revenue |
$ |
3,982 |
|
$ |
(122 |
) |
$ |
(16 |
) |
$ |
4,120 |
|
|
|
|
|
|
||||||||
Adjusted operating margin |
|
|
|
|
||||||||
Wealth Solutions |
|
33.6 |
% |
|
(3.7 |
)% |
|
— |
% |
|
37.3 |
% |
Health Solutions |
|
26.6 |
% |
|
(0.6 |
)% |
|
(0.9 |
)% |
|
28.1 |
% |
Investment Management |
|
24.6 |
% |
|
(0.3 |
)% |
|
— |
|
|
24.9 |
% |
Adjusted operating margin, excluding Corporate |
|
29.4 |
% |
|
(2.1 |
)% |
|
(0.3 |
)% |
|
31.8 |
% |
| Note: Totals may not sum due to rounding. |
| (1) Amount by which Investment income from alternative investments and prepayments exceeds or is less than our long-term expectations, net of variable compensation. Long-term expectation for alternative investments is a |
| (2) Includes changes in certain legal and other reserves not expected to recur at the same level. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250204956837/en/
Media Contact:
Donna Sullivan
Donna.Sullivan@voya.com
Investor Contact:
Mei Ni Chu
IR@voya.com
Source: Voya Financial, Inc.
FAQ
What were VOYA's Q4 2024 earnings per share?
How much capital did VOYA return to shareholders in 2024?
What was VOYA's Wealth Solutions asset growth in 2024?
How did VOYA's Health Solutions perform in Q4 2024?
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