July 12, 2024

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Voya Economic Completes Particular person Existence Transaction

3 min read
Voya Economic Completes Particular person Existence Transaction
Voya Economic Completes Particular person Existence Transaction

Voya Economical Completes Individual Daily life Transaction

Voya effectively positioned to develop core firms with a strategic concentration on serving the office and institutional consumers

Voya Financial investment Administration to serve as one particular of the favored asset administration vendors for Resolution Life US

Voya Monetary, Inc. (NYSE: VOYA), announced today that it has concluded the divestiture of significantly all of its personal existence insurance policy and other legacy non-retirement annuities businesses. The shut blocks of organization have been acquired by Resolution Everyday living US, a new keeping corporation set up by Resolution Daily life Group.

“With the completion of this transaction, we have simplified Voya’s portfolio of organizations, lessened current market and fascination amount chance, and freed up funds,” said Rodney O. Martin, Jr, chairman and chief government officer, Voya Money, Inc. “Looking ahead, we are now entirely centered on leveraging Voya’s main strengths in serving the place of work and institutional customers to attain even more organic and natural growth throughout our Retirement, Financial commitment Administration and Personnel Gains corporations. We are fired up about the alternatives to proceed to execute on our method and capitalize on our powerful model to supply even more value for all of our stakeholders.”

In link with the transaction, Voya Expenditure Management (IM) has been appointed financial commitment manager more than about $20 billion of main fastened income and specialty assets linked with the shut blocks. Voya IM will also provide as a person of the most popular asset administration associates for Resolution Existence. This arrangement aligns with Voya IM’s emphasis on furnishing skilled extended-phrase asset administration know-how to serve the demands of insurance plan businesses.

“We would like the pretty greatest to our quite a few colleagues who have now joined Resolution Life US to produce this new firm, which is very well positioned for accomplishment. This transaction has not only reached various strategic targets for Voya, but also guarantees continuity of the sturdy expertise running the individual life and annuity blocks and assists help a seamless transition for clients,” added Martin.

About Voya Economic®

Voya Money, Inc. (NYSE: VOYA), aids People plan, make investments and defend their cost savings — to get ready to retire superior. Serving the financial wants of about 13.8 million specific and institutional buyers in the United States, Voya is a Fortune 500 company that experienced $7.5 billion in earnings in 2019. The company experienced $657 billion in complete belongings below administration and administration as of Sept. 30, 2020. With a clear mission to make a safe fiscal foreseeable future probable — one individual, one loved ones, 1 establishment at a time — Voya’s vision is to be America’s Retirement Corporation®. Certified as a “Great Location to Work” by the Terrific Location to Perform® Institute, Voya is similarly fully commited to conducting enterprise in a way that is socially, environmentally, economically and ethically dependable. Voya has been recognized as a 2020 World’s Most Admired Business by Fortune journal one 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 Position to Operate for Disability Inclusion” on the Incapacity Equality Index by Disability:IN. For extra data, stop by voya.com. Stick to Voya Financial on Facebook, LinkedIn and Twitter @Voya.

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Media Get in touch with:

Christopher Breslin

212-309-8941

[email protected]

Trader Contact:

Michael Katz

212-309-8999

[email protected]

Look at supply edition on businesswire.com: https://www.businesswire.com/news/residence/20210104005711/en/

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