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Voya Financial (NYSE: VOYA) | Company Profile, History, Competitors


Voya Financial (NYSE: VOYA) is a retirement insurance company that serves over 14 million individual and institutional customers.  Voya was created as part of the spin-off from ING Group in May 2013 and headquartered in New York, NY.

Voya provides retirement savings plans, investment management services, employee benefits products and universal life insurance.

Business Overview

Voya Financial has four main business segments.
  • Retirement (28% of 2017 Revenues): Voya covers 5 million plan participant accounts across 48,600 plan sponsors. At the end of 2017, the segment had $383 billion total AUM/AUA.
  • Investment Management (27% of 2017 Revenues): Voya serves individual and institutional customers. At the end of 2017, the segment had $224 billion total AUM and $50 billion total AUA.
  • Employee Benefits (16% of 2017 Revenues): Voya provides group life, stop loss, disability and employee-aid products in the mid and large case market. The segment is a top 20 provide of group life and voluntary products (according to LIMRA)
  • Individual Life (8% of 2017 Revenues): The segment offers universal and variable products, like the index universal life product and is distributed across a number of independent agents.

Retirement Segment

Voya is a top 5 retirement services provider in the United States. Voya is particularly strong in the tax-exempt markets (education, government) and in small businesses (less than 500 employees). Voya offers full service, employee-sponsored retirement savings plans and administrative services and recordkeeping business.

Investment Management Segment

Voya provides investment management and administration services to individuals and institutions. This business is driven by fees charged by AUM. Voya has been focused on expanding distribution, entering new markets and increasing the range of products.

Employee Benefits Segment

Voya offers group insurance products to medium and large businesses. A majority of the business is driven by stop loss underwriting products.

Individual Life Segment

Voya offers indexed universal life products. The company has de-emphasized from capital intensive and interest-sensitive products. In 2016, the company stopped selling term life insurance.


Rodney Martin Jr. (CEO): Rodney Martin Jr. has been CEO since 2013 and the CEO of the pre-spun entity since 2011. Prior, he was Chairman of International Life and Alico at American International Group (AIG). Prior, he was CEO of American General Life Insurance. 

Michael Smith (CFO): Michael Smith has been CFO since 2016. Prior, he was CEO of Insurance Solutions and EVP of Risk at ING US. Prior, he was Head of Profitability & Risk Management at Lincoln Financial Group.


 $ USD in millions    2013    2014 2015 2016 2017
 Revenues $11,293 $11,965 $11,975 $8,892 $8,656 
 Net Premium Earned $1,956 $2,626  $3,025  $2,795  $2,121 
 Operating Profit ($1,093)$3,059 ($38) $277 $159 
 Net Income$601 $2,295 $408 ($327)($2,992)
 EPS$2.40 $9.07 $1.81 ($1.63)($16.25)
Voya Financial, Inc.
  Type     Public
  Ticker     NYSE: VOYA
  Industry Financials
  Founded 2013
  Headquarters New York, NY
$8.7bn (2017)
  Employees 6,300 (2017)