Voya Financial ( (VOYA) ) has released its Q4 earnings. Here is a breakdown of the information Voya Financial presented to its investors.
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Voya Financial, Inc. is a prominent health, wealth, and investment company, providing financial products and solutions to millions of clients, with a strong emphasis on ethical and responsible business practices.
In its latest earnings report for the fourth quarter and full year 2024, Voya Financial announced a net income of $93 million for the quarter, and $626 million for the year. The company also completed a strategic acquisition of OneAmerica Financial’s retirement plan business and invested in Sconset Re to enhance its investment management capabilities.
Key performance highlights included strong growth in Wealth Solutions and Investment Management, with full-year pre-tax adjusted operating earnings of $820 million and $213 million, respectively. However, these positives were somewhat offset by higher loss ratios in the Health Solutions segment, leading to a significant decline in its earnings.
Voya Financial’s management expressed confidence in future growth, highlighting improved profitability expectations for the Stop Loss business and continued capital returns to shareholders. The company anticipates enhanced capital generation in 2025, driven by core business growth and contributions from the recent acquisition.
