NEW YORK–(Business enterprise Wire)–Voya Economic, Inc. (NYSE: VOYA), announced these days that it and Resolution Lifetime Team Holdings (Resolution Lifetime) have gained all regulatory approvals wanted to comprehensive the sale of Voya’s Specific Lifetime and non-retirement legacy annuities company to Resolution Everyday living. As formerly introduced, the transaction is expected to shut on Jan. 4, 2021.
“We are delighted to have received regulatory acceptance of the Personal Lifetime transaction,” claimed Rodney O. Martin, Jr., chairman and main executive officer, Voya Money, Inc. “Thanks to the commitment of personnel at each organizations, we have currently finished the operational and monetary necessities desired to near the transaction and make certain a smooth changeover for our clients. We look ahead to working with Resolution Lifestyle about the coming days to put together for closing the transaction on Jan. 4.”
“Resolution Lifetime continues to operate intently with our Voya colleagues and we search forward to completing the transaction on Jan. 4, 2021 and to welcoming new crew members and policyholders to our business enterprise,” mentioned Sir Clive Cowdery, founder and govt chairman, Resolution Life.
Voya also declared currently that it intends to enter into an accelerated share repurchase (ASR) agreement with a 3rd-social gathering money establishment in advance of the end of the calendar year, less than which it will repurchase somewhere around $150 million of its common stock. The preliminary shipping and delivery of shares below the ASR would just take spot in the fourth quarter of 2020, with final settlement through the very first quarter of 2021.
“Having acquired closing regulatory acceptance on the Person Lifestyle transaction – and with bigger clarity on the credit rating surroundings – we have made the decision to resume share repurchases. This will empower us to carry on to develop upon the around $6.4 billion of capital that we have presently returned to shareholders through share repurchases and dividends given that our initial general public presenting, and it reinforces our dedication to becoming great stewards of shareholder money. We program to deliver more info on our capital administration programs all through our fourth-quarter and full-calendar year 2020 earnings phone in February,” additional Martin.
About Voya Money®
Voya Economic, Inc. (NYSE: VOYA), helps Individuals program, invest and protect their discounts — to get prepared to retire far better. Serving the economical requirements of around 13.8 million unique and institutional shoppers in the United States, Voya is a Fortune 500 firm that had $7.5 billion in income in 2019. The organization had $657 billion in whole assets under administration and administration as of Sept. 30, 2020. With a clear mission to make a safe fiscal potential attainable — one man or woman, one particular family members, just one institution at a time — Voya’s eyesight is to be America’s Retirement Firm®. Qualified as a “Great Area to Work” by the Fantastic Area to Perform® Institute, Voya is similarly fully commited to conducting company in a way that is socially, environmentally, economically and ethically accountable. Voya has been identified as a 2020 World’s Most Admired Organization by Fortune journal a single of the 2020 World’s Most Ethical Companies® by the Ethisphere Institute as a member of the Bloomberg Gender Equality Index and as a “Best Place to Operate for Disability Inclusion” on the Incapacity Equality Index by Disability:IN. For a lot more information, stop by voya.com. Stick to Voya Financial on Facebook, LinkedIn and Twitter @Voya.
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Media:
Christopher Breslin
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Investor:
Michael Katz
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