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About Voya Financial, Inc.

Voya Financial (Voya) offers retirement, investment, and (mostly life) insurance services to nearly 14 million individuals, workplace participants and institutions in the United States. Its retirement products include recordkeeping and plan administration services, tailored participant communications and education programs, digital capabilities for sponsors and plan participants (plus mobile capabilities for participants), trustee services and institutional and retail investments. Its investment management division offers international and domestic equity, fixed-income, and multi-asset products. The employee benefits offers stop loss insurance, voluntary benefits, and group life and disability products which it sells to mid-sized and large companies. Launched in the US in 1975 as a subsidiary of Netherlands-based ING Group, it spun off and went public in 2013.


Voya is well diversified across three reporting segments: Retirement, Investment Management and Employee Benefits.

The company's retirement segment generates almost 50% of total revenue. It provides tax-deferred, services and support to the full spectrum of businesses, ranging from small to mega-sized plans and across all markets and code sections. Furthermore, it also offers stable value investment options to institutional clients.

The Employee Benefits division represents over 35% of revenue. Its offerings include stop loss insurance, voluntary benefits, and group life and disability products.

Investment Management brings in more than 10% of revenue. It delivers products and services that are manufactured by traditional and specialty investment platforms. The traditional platforms are fixed income, equities and MASS. It houses Voya's investment and retirement offerings across a range of geographies, markets, and investment styles.

The company has more than $270 billion in assets under management or administration; the majority is held in its Investment Management segment.

Voya's net investment income generates more than 35% of total revenue followed by fee income for over 25%.

Geographic Reach

New York-headquartered, Voya has around 75 locations in the US including Washington DC, and Hawaii.

Sales and Marketing

Voya targets its products and services to a range of customers including retirement plan sponsors and participants, institutional and retail investors, corporate and professional employee benefits providers, insurance policyholders, and annuity contract and IRA holders. Industries that it typically pursues include small- and medium-sized companies and large corporations, educational institutions, healthcare organizations, non-profits, state and local governments, and consumers.

The Institutional Retirement Plans business can be categorized into two primary markets: Corporate and Tax Exempt which both utilize the company's award-winning "myOrangeMoney", a digital capabilities that engages and informs plan participants with retirement savings and income goals. The company provides services to various markets including Small-Mid Corporate Market and Large-Mega Corporate Market. Tax Exempts Markets cater to Education Market, Healthcare/Other Non-Profits Market, and Government Market.

Financial Performance

For the last five years, Voya's revenue growth have not made significant impact and remained basically the same since 2015. Net income experienced losses of those three years.

In 2019, the company's revenue increased by 4% to $7.5 billion on increased net investment income and premiums.

Voya's net income suffered a loss of $379 million in 2019 due to losses from discontinued operations.

The company's cash at the end of fiscal 2019 was $1.2 billion, up by $56 million from previous year. Operations provided $1.3 billion and it used $1.3 billion on investments primarily for acquisitions and purchases. Another $121 million were used on financing activities, mainly common stock repurchases and maturities and withdrawals from investment contracts.


Voya's strategy is centered on preparing customers for financial wellness—being emotionally and economically secure and ready for their retirement. The Company believes that the aging of the U.S. population, weakening of traditional social safety nets, shifting of responsibility for retirement planning from institutions to individuals and growth in total retirement account assets will drive significant demand for our products and services going forward.

Voya believes that it could help its customers achieve three essential financial goals, as they plan for, invest for and protect their retirement years. The Company provide its products and services principally through three segments: Retirement, Investment Management, and Employee Benefits. In October 2018, it concluded a strategic review of its Individual Life business and announced that it would cease new individual life insurance sales while retaining its in-force block of individual life policies at that time. In the fourth quarter of 2019, it announced the sale of its Individual Life and certain legacy annuities business, which it expects to close by September 30, 2020. Accordingly, substantially all of its former Individual Life segment has now been reclassified as "Business Held for Sale/Discontinued Operations". It will continue to operate this business until the closing of the transaction.

Its investment strategy also seeks to achieve sustainable risk-adjusted returns by focusing on principal preservation, disciplined matching of asset characteristics with liability requirements and the diversification of risks. Investment activities are undertaken according to investment policy statements that contain internally established guidelines and risk tolerances and are required to comply with applicable laws and insurance regulations. Risk tolerances are established for credit risk, credit spread risk, market risk, liquidity risk and concentration risk across issuers, sectors and asset types that seek to mitigate the impact of cash flow variability arising from these risks.

Company Background

Voya Financial predecessor Security Life of Denver Insurance was founded in 1928. It entered the group insurance and reinsurance businesses in 1940 before its acquisition by Nationale Nederlanden in 1977. Following a series of mergers, acquisitions, and divestitures, Voya Financial went public in 2013 on the NYSE.

Voya Financial, Inc.

230 Park Ave FL 14
New York, NY 10169-1502
Phone: 1 (212) 309-8200

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: VOYA
Stock Exchange: , NYSE
COO: Alain M. Karaoglan
Chairman and CEO: Rodney O. Martin
CFO: Michael S. Smith
Employees (This Location): 1,200
Employees (All Locations): 6,000

Major Office Locations

New York, NY

Other Locations

Burlingame, CA
Orange, CA
Boca Raton, FL
Coral Springs, FL
Englewood, FL
Fort Lauderdale, FL
Jacksonville, FL
Safety Harbor, FL
Tampa, FL
Lisle, IL
Topeka, KS
Lexington, KY
Arlington, MA
Braintree, MA
Towson, MD
Bangor, ME
Marquette, MI
Jordan, MN
Minneapolis, MN
Saint Paul, MN
Joplin, MO
Saint Charles, MO
Charlotte, NC
Omaha, NE
Concord, NH
Matthews, NY
Milwaukee, NY
Columbus, OH
Edmond, OK
Norman, OK
Middletown, RI
Chattanooga, TN
Jackson, TN
Austin, TX
Lubbock, TX
North Chesterfield, VA
Bellevue, WA
Chehalis, WA
Seattle, WA
Vancouver, WA
Manitowoc, WI
Charleston, WV