October 2, 2023

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Voya Economical Announces Regulatory Approval of Sale of Person Existence Organization and Other Shut Blocks

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Voya Fiscal Announces Regulatory Acceptance of Sale of Personal Existence Company and Other Closed Blocks

Voya announces resumption of share repurchases

Voya Economical, Inc. (NYSE: VOYA), announced right now that it and Resolution Everyday living Group Holdings (Resolution Lifetime) have received all regulatory approvals essential to finish the sale of Voya’s Individual Life and non-retirement legacy annuities company to Resolution Everyday living. As beforehand declared, the transaction is envisioned to shut on Jan. 4, 2021.

“We are delighted to have gained regulatory acceptance of the Person Life transaction,” claimed Rodney O. Martin, Jr., chairman and main govt officer, Voya Economic, Inc. “Thanks to the dedication of staff at both of those providers, we have already accomplished the operational and monetary necessities essential to shut the transaction and ensure a clean transition for our clients. We search ahead to performing with Resolution Everyday living above the coming days to put together for closing the transaction on Jan. 4.”

“Resolution Daily life continues to get the job done closely with our Voya colleagues and we seem ahead to completing the transaction on Jan. 4, 2021 and to welcoming new crew customers and policyholders to our enterprise,” claimed Sir Clive Cowdery, founder and government chairman, Resolution Existence.

Voya also announced these days that it intends to enter into an accelerated share repurchase (ASR) settlement with a 3rd-bash monetary institution in advance of the conclusion of the calendar year, below which it will repurchase about $150 million of its popular inventory. The original shipping of shares below the ASR would acquire put in the fourth quarter of 2020, with final settlement through the first quarter of 2021.

“Having gained ultimate regulatory acceptance on the Personal Everyday living transaction – and with increased clarity on the credit surroundings – we have decided to resume share repurchases. This will allow us to proceed to develop on the somewhere around $6.4 billion of capital that we have already returned to shareholders via share repurchases and dividends since our preliminary general public featuring, and it reinforces our determination to remaining superior stewards of shareholder funds. We system to supply a lot more information on our funds administration designs for the duration of our fourth-quarter and full-12 months 2020 earnings get in touch with in February,” added Martin.

About Voya Economic®

Voya Financial, Inc. (NYSE: VOYA), can help People in america program, invest and protect their discounts — to get all set to retire better. Serving the money desires of close to 13.8 million individual and institutional buyers in the United States, Voya is a Fortune 500 business that experienced $7.5 billion in revenue in 2019. The business experienced $657 billion in total assets beneath administration and administration as of Sept. 30, 2020. With a distinct mission to make a protected monetary potential probable — just one individual, 1 loved ones, one particular establishment at a time — Voya’s eyesight is to be America’s Retirement Enterprise®. Certified as a “Great Area to Work” by the Excellent Area to Perform® Institute, Voya is similarly committed to conducting company in a way that is socially, environmentally, economically and ethically responsible. Voya has been identified as a 2020 World’s Most Admired Firm by Fortune magazine one of the 2020 World’s Most Moral Corporations® by the Ethisphere Institute as a member of the Bloomberg Gender Equality Index and as a “Best Position to Do the job for Incapacity Inclusion” on the Incapacity Equality Index by Incapacity:IN. For additional information, visit voya.com. Adhere to Voya Economical on Facebook, LinkedIn and Twitter @Voya.

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Christopher Breslin

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Trader:

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Watch supply version on businesswire.com: https://www.businesswire.com/information/household/20201224005120/en/

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