Voya Financial announces third-quarter 2024 results
Voya Financial (NYSE: VOYA) reported third-quarter 2024 results with net income of $98 million ($0.98 per diluted share) and adjusted operating earnings of $190 million ($1.90 per diluted share). Wealth Solutions and Investment Management showed strong performance, while Health Solutions experienced higher loss ratios. The company generated and returned approximately $0.2 billion of capital in Q3 2024 and expects to return $0.8 billion for the full year. The Board authorized an additional $500 million stock repurchase. Total client assets reached $608 billion, up 19% year-over-year. The acquisition of OneAmerica Financial's retirement plan business is expected to close on January 1, 2025.
Voya Financial (NYSE: VOYA) ha riportato i risultati del terzo trimestre 2024 con un utile netto di 98 milioni di dollari (0,98 dollari per azione diluita) e un utile operativo rettificato di 190 milioni di dollari (1,90 dollari per azione diluita). Le Soluzioni Patrimoniali e la Gestione degli Investimenti hanno mostrato prestazioni solide, mentre le Soluzioni Sanitarie hanno registrato un aumento dei rapporti di perdita. L'azienda ha generato e restituito circa 0,2 miliardi di dollari di capitale nel Q3 2024 e prevede di restituire 0,8 miliardi di dollari per l'intero anno. Il Consiglio ha autorizzato un ulteriore riacquisto di azioni da 500 milioni di dollari. Gli attivi totali dei clienti hanno raggiunto 608 miliardi di dollari, con un incremento del 19% rispetto all'anno precedente. Si prevede che l'acquisizione del business dei piani pensionistici di OneAmerica Financial si concluda il 1 gennaio 2025.
Voya Financial (NYSE: VOYA) reportó los resultados del tercer trimestre de 2024 con un ingreso neto de 98 millones de dólares (0,98 dólares por acción diluida) y ganancias operativas ajustadas de 190 millones de dólares (1,90 dólares por acción diluida). Las Soluciones de Patrimonio y la Gestión de Inversiones mostraron un buen desempeño, mientras que las Soluciones de Salud experimentaron ratios de pérdida más altos. La compañía generó y devolvió aproximadamente 0,2 mil millones de dólares de capital en el Q3 2024 y espera devolver 0,8 mil millones de dólares para el año completo. La Junta autorizó una recompra adicional de acciones de 500 millones de dólares. Los activos totales de los clientes alcanzaron los 608 mil millones de dólares, un aumento del 19% interanual. Se espera que la adquisición del negocio de planes de jubilación de OneAmerica Financial se cierre el 1 de enero de 2025.
보야 금융 (NYSE: VOYA)는 2024년 3분기 결과를 발표하며 순이익이 9,800만 달러(희석 주당 0.98 달러)였고 조정 운영 수익이 1억 9천만 달러(희석 주당 1.90 달러)였다고 밝혔습니다. 자산 관리 및 투자 관리 부문은 강력한 성과를 보였지만, 건강 관리 솔루션 부문은 더 높은 손실 비율을 경험했습니다. 이 회사는 2024년 3분기에 약 2억 달러의 자본을 생성하여 반환했으며, 연간 8억 달러를 반환할 것으로 예상하고 있습니다. 이사회는 5억 달러 추가 주식 매입을 승인했습니다. 총 고객 자산은 6,080억 달러에 달해 전년 대비 19% 증가했습니다. 원아메리카 금융의 퇴직 연금 사업 인수는 2025년 1월 1일에 완료될 것으로 예상됩니다.
Voya Financial (NYSE: VOYA) a rapporté les résultats du troisième trimestre 2024 avec un revenu net de 98 millions de dollars (0,98 dollar par action diluée) et des bénéfices d'exploitation ajustés de 190 millions de dollars (1,90 dollar par action diluée). Les Solutions Patrimoniales et la Gestion d'Investissements ont montré de bonnes performances, tandis que les Solutions Santé ont connu des ratios de perte plus élevés. L'entreprise a généré et retourné environ 0,2 milliard de dollars de capital au T3 2024 et s'attend à retourner 0,8 milliard de dollars pour l'année complète. Le Conseil a autorisé un rachat d'actions supplémentaire de 500 millions de dollars. Les actifs totaux des clients ont atteint 608 milliards de dollars, soit une augmentation de 19 % par rapport à l'année précédente. L'acquisition de l'activité de plans de retraite de OneAmerica Financial devrait se clôturer le 1er janvier 2025.
Voya Financial (NYSE: VOYA) hat die Ergebnisse des dritten Quartals 2024 veröffentlicht, mit einem Nettoergebnis von 98 Millionen US-Dollar (0,98 US-Dollar pro verwässerter Aktie) und angepassten Betriebsergebnissen von 190 Millionen US-Dollar (1,90 US-Dollar pro verwässerter Aktie). Vermögenslösungen und Vermögensverwaltung haben starke Leistungen gezeigt, während die Gesundheitslösungen höhere Verlustquoten verzeichneten. Das Unternehmen generierte und gab im 3. Quartal 2024 etwa 0,2 Milliarden US-Dollar an Kapital zurück und rechnet damit, im gesamten Jahr 0,8 Milliarden US-Dollar zurückzugeben. Der Vorstand genehmigte einen zusätzlichen Aktienrückkauf von 500 Millionen US-Dollar. Die gesamten Kundenvermögen beliefen sich auf 608 Milliarden US-Dollar, was einem Anstieg von 19% im Vergleich zum Vorjahr entspricht. Der Erwerb des Rentenplan-Geschäfts von OneAmerica Financial soll am 1. Januar 2025 abgeschlossen werden.
- Total client assets increased 19% YoY to $608 billion
- Board authorized additional $500 million stock repurchase
- Wealth Solutions revenue grew 7.2% TTM
- Investment Management achieved $3.8 billion net inflows
- Health Solutions in-force premiums and fees grew 16% to $3.9 billion
- Fitch upgraded company's life insurance subsidiaries to 'A+' from 'A'
- Net income decreased to $98 million from $248 million in Q3 2023
- Health Solutions earnings declined to $23 million from $53 million YoY
- Health Solutions net revenues declined 1.2% TTM
- Higher loss ratios in Stop Loss business affecting profitability
Insights
Strong financial performance with
Strategic positioning strengthens with the OneAmerica acquisition, expanding capabilities in key retirement segments and ESOP administration. Despite challenges in Health Solutions, core business segments show resilience. Notable metrics:
- Wealth Solutions margin improved to
37.9% TTM - Investment Management organic growth at
1.3% - Health Solutions requires attention with margin declining to
16.6%
-
Net income available to common shareholders of
$98 million $0.98 $190 million $1.90 -
Strong results in Wealth Solutions and Investment Management mitigating higher loss ratios in Health Solutions.
- Disciplined pricing actions expected to improve loss ratios in Stop Loss in 2025.
-
Prudently positioned balance sheet and strong excess capital generation supporting capital return to shareholders:
-
Board of directors authorized repurchase of an additional
$500 million -
Generated and returned approximately
$0.2 billion -
Expect to return
$0.8 billion
-
Board of directors authorized repurchase of an additional
- Acquisition of OneAmerica Financial’s full-service retirement plan business expected to close on Jan. 1, 2025.
“We delivered robust results in Wealth Solutions and Investment Management in the third-quarter of 2024. This helped offset higher loss ratios in Health Solutions, resulting in an adjusted operating EPS of
“Capital return in the third-quarter reflects our continued commitment to creating value for shareholders. We remain on track to return
“The strategic acquisition of OneAmerica's full-service retirement plan business will further strengthen our market position and accelerate profitable growth. We remain focused on addressing the evolving needs of our customers, who rely on us for comprehensive workplace benefits, savings, and investment solutions. This commitment continues to distinguish Voya as a leader in the marketplace."
| _________________________ |
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 |
Third-Quarter 2024 Consolidated Results
Third-quarter 2024 net income available to common shareholders was
Third-quarter 2024 after-tax adjusted operating earnings were
Business Segment Results
Wealth Solutions
Wealth Solutions third-quarter 2024 pre-tax adjusted operating earnings were
Total client assets as of Sept. 30, 2024, were
Net revenues for the trailing twelve months (TTM) ended Sept. 30, 2024, grew
Adjusted operating margin for the TTM ended Sept. 30, 2024, was
Excluding notable items, for the TTM ended Sept. 30, 2024, net revenues grew
Health Solutions
Health Solutions third-quarter 2024 pre-tax adjusted operating earnings were
Health Solutions third-quarter 2024 annualized in-force premiums and fees grew
Net revenues for the TTM ended Sept. 30, 2024, declined
Adjusted operating margin for the TTM ended Sept. 30, 2024, was
Excluding notable items, for the TTM ended Sept. 30, 2024, net revenues declined
Investment Management
Investment Management third-quarter 2024 pre-tax adjusted operating earnings, excluding Allianz's noncontrolling interest, were
Investment Management had net inflows of
Net revenues for the TTM ended Sept. 30, 2024, grew
Adjusted operating margin for the TTM ended Sept. 30, 2024, was
Excluding notable items, for the TTM ended Sept. 30, 2024, net revenues grew
Corporate
Corporate third-quarter 2024 pre-tax adjusted operating losses, excluding Allianz's noncontrolling interest, were
Capital
For the third-quarter 2024, the company generated approximately
The company announced today that its board of directors has increased the company's authorization to repurchase common stock under the company's share repurchase program by
During the third-quarter 2024, the company issued
In Sept. 2024, Fitch upgraded Voya Financial, Inc.'s life insurance subsidiaries' Insurer Financial Strength to 'A+' from 'A,' long-term issuer default rating to 'A-' from 'BBB+' and senior unsecured debt to 'BBB+' from 'BBB.' In conjunction with the upgrade, Fitch revised its outlook to 'Stable' for the revised ratings.
Investments in Profitable Growth
On Sept. 11, 2024, the company announced that it had entered into a definitive agreement to acquire OneAmerica Financial’s full-service retirement plan business including 401(k), 403(b), 457, non-qualified deferred compensation and employee stock ownership plans. The acquisition will provide the company with a broader set of capabilities that complement its existing product suite within Wealth Solutions, including competitive employee stock ownership plan capabilities, administration, and new opportunities to expand its distribution footprint and deepen its existing advisor relationships. The acquisition will add assets in the strategically important full-service Emerging and Mid-Market segments, extend the company’s leadership position in the Large Market and increase the company’s General Account, which is managed by Voya Investment Management. The transaction is expected to close on Jan. 1, 2025, subject to customary closing conditions.
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 Tuesday, Nov. 5, 2024, at 10 a.m. ET, to discuss the company’s third-quarter 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 Nov. 6, 2024.
About Voya Financial
Voya Financial, Inc. (NYSE: VOYA) is a leading health, wealth and investment company with over 9,000 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 15.2 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 over 12 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. 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), which are significantly influenced by economic and market conditions, including interest rates and credit spreads, and are not indicative of normal operations;
- 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 include items which are not indicative of normal operations, performance of our segments, current Operating expense fundamentals, or do not reflect cash-settled expenses. These items vary widely in timing, scope and frequency between periods as well as among companies to which we are compared. Accordingly, we adjust for these items as we believe that these items distort the ability to make a meaningful evaluation of the current and future performance of our segments. These may include:
- 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 such as capital or organizational restructurings, 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, 2023, as filed with the SEC on Feb. 23, 2024, and in our Quarterly Report on Form 10-Q for the three months ended Sept. 30, 2024, to be filed with the SEC on or before Nov. 12, 2024.
VOYA-IR VOYA-CF
Consolidated Statement of Operations |
|||||||
|
Three Months Ended |
||||||
(in millions USD, except per share) |
9/30/2024 |
|
9/30/2023 |
||||
|
|
|
|
||||
Revenues |
|
|
|
||||
Net investment income |
$ |
506 |
|
|
$ |
547 |
|
Fee income |
|
540 |
|
|
|
489 |
|
Premiums |
|
796 |
|
|
|
682 |
|
Net gains (losses) |
|
(14 |
) |
|
|
(7 |
) |
Other revenues |
|
103 |
|
|
|
81 |
|
Income (loss) related to consolidated investment entities |
|
25 |
|
|
|
31 |
|
Total revenues |
|
1,956 |
|
|
|
1,823 |
|
Benefits and expenses |
|
|
|
||||
Interest credited and other benefits to contract owners/policyholders |
|
(938 |
) |
|
|
(799 |
) |
Operating expenses |
|
(775 |
) |
|
|
(717 |
) |
Net amortization of DAC/VOBA |
|
(55 |
) |
|
|
(57 |
) |
Interest expense |
|
(29 |
) |
|
|
(31 |
) |
Operating expenses related to consolidated investment entities |
|
(43 |
) |
|
|
(47 |
) |
Total benefits and expenses |
|
(1,840 |
) |
|
|
(1,651 |
) |
Income (loss) before income taxes |
|
116 |
|
|
|
172 |
|
Income tax expense (benefit) |
|
18 |
|
|
|
(74 |
) |
Net income (loss) |
|
98 |
|
|
|
246 |
|
Less: Net income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest |
|
(16 |
) |
|
|
(16 |
) |
Net income (loss) available to Voya Financial, Inc. |
|
114 |
|
|
|
262 |
|
Less: Preferred stock dividends |
|
16 |
|
|
|
14 |
|
Net income (loss) available to Voya Financial, Inc.'s common shareholders |
$ |
98 |
|
|
$ |
248 |
|
Net income (loss) available to Voya Financial, Inc.'s common shareholders per common share: |
|
|
|
||||
Basic |
$ |
1.00 |
|
|
$ |
2.35 |
|
Diluted |
$ |
0.98 |
|
|
$ |
2.29 |
|
Reconciliation of Net Income (Loss) to Adjusted Operating Earnings and Earnings Per Share (Diluted) |
|||||||||||||
|
Three Months Ended |
||||||||||||
(in millions USD, except per share) |
9/30/2024 |
|
9/30/2023 |
||||||||||
|
After-tax (1) |
Per share |
|
After-tax (1) |
Per share |
||||||||
Net Income (loss) available to Voya Financial, Inc.'s common shareholders |
$ |
98 |
|
$ |
0.98 |
|
|
$ |
248 |
|
$ |
2.29 |
|
Less: |
|
|
|
|
|
||||||||
Net investment gains (losses) (2) |
|
(26 |
) |
|
(0.26 |
) |
|
|
43 |
|
|
0.40 |
|
Income (loss) related to businesses exited or to be exited through reinsurance or divestment (3) |
|
(41 |
) |
|
(0.41 |
) |
|
|
38 |
|
|
0.35 |
|
Other adjustments (4) |
|
(25 |
) |
|
(0.25 |
) |
|
|
(21 |
) |
|
(0.19 |
) |
Adjusted operating earnings |
$ |
190 |
|
$ |
1.90 |
|
|
$ |
189 |
|
$ |
1.74 |
|
Less: |
|
|
|
|
|
||||||||
Alternative investment income and prepayment fees above (below) long-term expectations net of variable compensation |
|
(22 |
) |
|
(0.22 |
) |
|
|
(23 |
) |
|
(0.21 |
) |
Other (5) |
|
— |
|
|
— |
|
|
|
(13 |
) |
|
(0.12 |
) |
Adjusted operating earnings excluding notable items |
$ |
212 |
|
$ |
2.12 |
|
|
$ |
224 |
|
$ |
2.07 |
|
Note: Totals may not sum due to rounding. |
(1) For adjusted operating earnings, we apply a |
(2) Includes a |
(3) Includes tax benefits of |
(4) Primarily consists of acquisition and integration costs associated with the Allianz Global Investors and Benefitfocus transactions and amortization of acquisition-related intangible assets. For the three months ended Sept. 30, 2024, also includes |
(5) 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 Sept. 30, 2024 |
|||||||||
(in millions USD, except per share) |
Amounts
|
Alternative investment income
|
Amounts
|
||||||
|
a |
b |
c = a - b |
||||||
Adjusted operating earnings |
|
|
|
||||||
Wealth Solutions |
$ |
211 |
|
$ |
(21 |
) |
$ |
232 |
|
Health Solutions |
|
23 |
|
|
(3 |
) |
|
26 |
|
Investment Management |
|
55 |
|
|
(4 |
) |
|
59 |
|
Corporate |
|
(59 |
) |
|
— |
|
|
(59 |
) |
Adjusted operating earnings before income taxes |
|
230 |
|
|
(28 |
) |
|
258 |
|
Income taxes (2) |
|
39 |
|
|
(6 |
) |
|
45 |
|
Adjusted operating earnings after income taxes |
$ |
190 |
|
$ |
(22 |
) |
$ |
212 |
|
Adjusted operating earnings per share |
|
1.90 |
|
|
(0.22 |
) |
|
2.12 |
|
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 Sept. 30, 2023 |
||||||||||||
(in millions USD, except per share) |
Amounts
|
Alternative
|
Other (2) |
Amounts
|
||||||||
|
a |
b |
c |
d = a - b - c |
||||||||
Adjusted operating earnings |
|
|
|
|
||||||||
Wealth Solutions |
$ |
179 |
|
$ |
(24 |
) |
$ |
— |
|
$ |
202 |
|
Health Solutions |
|
53 |
|
|
(2 |
) |
|
(16 |
) |
|
71 |
|
Investment Management |
|
49 |
|
|
(3 |
) |
|
— |
|
|
52 |
|
Corporate |
|
(52 |
) |
|
— |
|
|
— |
|
|
(52 |
) |
Adjusted operating earnings before income taxes |
|
229 |
|
|
(29 |
) |
|
(16 |
) |
|
273 |
|
Income taxes (3) |
|
39 |
|
|
(6 |
) |
|
(3 |
) |
|
49 |
|
Adjusted operating earnings after income taxes |
$ |
189 |
|
$ |
(23 |
) |
$ |
(13 |
) |
$ |
224 |
|
Adjusted operating earnings per share |
|
1.74 |
|
|
(0.21 |
) |
|
(0.12 |
) |
|
2.07 |
|
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 Sept. 30, 2024 |
|||||||||
(in millions USD) |
Amounts
|
Alternative investment income
|
Amounts
|
||||||
|
a |
b |
c = a - b |
||||||
Net revenue |
|
|
|
||||||
Wealth Solutions |
$ |
1,999 |
|
$ |
(82 |
) |
$ |
2,081 |
|
Health Solutions |
|
1,123 |
|
|
(11 |
) |
|
1,134 |
|
Investment Management |
|
939 |
|
|
(9 |
) |
|
948 |
|
Total net revenue |
$ |
4,061 |
|
$ |
(102 |
) |
$ |
4,163 |
|
|
|
|
|
||||||
Adjusted operating margin |
|
|
|
||||||
Wealth Solutions |
|
37.9 |
% |
|
(2.5 |
)% |
|
40.4 |
% |
Health Solutions |
|
16.6 |
% |
|
(0.8 |
)% |
|
17.4 |
% |
Investment Management |
|
26.3 |
% |
|
(0.6 |
)% |
|
26.9 |
% |
Adjusted operating margin, excluding Corporate |
|
29.3 |
% |
|
(1.7 |
)% |
|
31.0 |
% |
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 Sept. 30, 2023 |
||||||||||||
(in millions USD) |
Amounts
|
Alternative
|
Other (2) |
Amounts
|
||||||||
|
a |
b |
c |
d = a - b - c |
||||||||
Net revenue |
|
|
|
|
||||||||
Wealth Solutions |
$ |
1,864 |
|
$ |
(121 |
) |
$ |
— |
|
$ |
1,985 |
|
Health Solutions |
|
1,137 |
|
|
(9 |
) |
|
(16 |
) |
|
1,165 |
|
Investment Management |
|
903 |
|
|
(9 |
) |
|
— |
|
|
912 |
|
Total net revenue |
$ |
3,904 |
|
$ |
(139 |
) |
$ |
(16 |
) |
$ |
4,061 |
|
|
|
|
|
|
||||||||
Adjusted operating margin |
|
|
|
|
||||||||
Wealth Solutions |
|
33.8 |
% |
|
(4.0 |
)% |
|
— |
% |
|
37.8 |
% |
Health Solutions |
|
30.6 |
% |
|
(0.6 |
)% |
|
(1.0 |
)% |
|
32.2 |
% |
Investment Management |
|
24.9 |
% |
|
(0.6 |
)% |
|
— |
|
|
25.5 |
% |
Adjusted operating margin, excluding Corporate |
|
30.8 |
% |
|
(2.4 |
)% |
|
(0.2 |
)% |
|
33.4 |
% |
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/20241104246985/en/
Media:
Donna Sullivan
Donna.Sullivan@voya.com
Investor:
Mei Ni Chu
IR@voya.com
Source: Voya Financial, Inc.
FAQ
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