Voya Financial Completes Individual Life Transaction
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NEW YORK–(Small business WIRE)–Jan 4, 2021–
Voya Economical, Inc. (NYSE: VOYA), declared nowadays that it has accomplished the divestiture of significantly all of its personal lifetime coverage and other legacy non-retirement annuities corporations. The shut blocks of business enterprise have been acquired by Resolution Everyday living US, a new keeping organization founded by Resolution Lifestyle Team.
“With the completion of this transaction, we have simplified Voya’s portfolio of firms, lessened industry and curiosity amount possibility, and freed up capital,” stated Rodney O. Martin, Jr, chairman and chief government officer, Voya Fiscal, Inc. “Looking forward, we are now thoroughly targeted on leveraging Voya’s main strengths in serving the workplace and institutional clientele to attain even more natural and organic progress throughout our Retirement, Financial commitment Management and Staff Rewards enterprises. We are excited about the opportunities to continue on to execute on our system and capitalize on our powerful model to produce further more price for all of our stakeholders.”
In connection with the transaction, Voya Financial commitment Administration (IM) has been appointed financial investment supervisor over around $20 billion of main fixed cash flow and specialty assets linked with the closed blocks. Voya IM will also serve as 1 of the preferred asset administration associates for Resolution Lifestyle. This arrangement aligns with Voya IM’s target on providing experienced extended-time period asset management expertise to serve the wants of insurance policy companies.
“We want the pretty best to our several colleagues who have now joined Resolution Life US to build this new business, which is perfectly positioned for good results. This transaction has not only attained numerous strategic aims for Voya, but also assures continuity of the strong expertise handling the specific lifestyle and annuity blocks and helps help a seamless transition for customers,” added Martin.
About Voya Financial ®
Voya Money, Inc. (NYSE: VOYA), can help Americans program, invest and shield their financial savings — to get ready to retire greater. Serving the fiscal requires of close to 13.8 million specific and institutional customers in the United States, Voya is a Fortune 500 organization that experienced $7.5 billion in income in 2019. The company experienced $657 billion in total assets below management and administration as of Sept. 30, 2020. With a clear mission to make a safe economic upcoming possible — a person particular person, one relatives, one particular establishment at a time — Voya’s eyesight is to be America’s Retirement Company ®. Accredited as a “Great Area to Work” by the Excellent Spot to Do the job ® Institute, Voya is equally dedicated to conducting small business in a way that is socially, environmentally, economically and ethically accountable. Voya has been acknowledged as a 2020 World’s Most Admired Firm by Fortune magazine one of the 2020 World’s Most Ethical Providers ® by the Ethisphere Institute as a member of the Bloomberg Gender Equality Index and as a “Best Put to Work for Disability Inclusion” on the Disability Equality Index by Incapacity:IN. For additional information, pay a visit to voya.com. Observe Voya Money on Fb, LinkedIn and Twitter @Voya.
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Source: Voya Financial, Inc.
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PUB: 01/04/2021 04:15 PM/DISC: 01/04/2021 04:15 PM
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