Voya Financial, Inc. has recently released its 10-K report, providing a comprehensive overview of its business operations. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers retirement products, recordkeeping services, stable value and fixed general account investment products, and wealth management services. The Health Solutions segment provides various insurance products and worksite employee benefits, while the Investment Management segment offers fixed income, equity, multi-asset, and alternative products and solutions to individual investors and institutional clients.
In the 10-K report, Voya Financial, Inc. discusses its financial condition and results of operations, emphasizing its strategic focus on a capital light, high free cash flow business. The report highlights the company's return of approximately $800 million of capital to shareholders through share repurchases and dividends and the generation of excess capital of approximately $650 million during 2024. Voya Financial, Inc. also outlines its mission to make a secure financial future possible for individuals, families, and institutions, emphasizing its competitive differentiators, scale, business mix, risk profile, and strong free cash flow generation.
The report delves into the revenue sources and business operations of each segment. For example, the Wealth Solutions segment generates revenue primarily from fee and investment income, which is tied to account values and assets under management. The Health Solutions segment's revenue is derived from premiums, fees, investment income, mortality and morbidity income, and policy and other charges. Meanwhile, the primary source of revenue for the Investment Management segment is management fees collected on the assets it manages.
Furthermore, the report provides insights into Voya Financial, Inc.'s recent business updates, including its acquisition of the full-service retirement plan business of OneAmerica Financial and the acquisition of Benefitfocus, a benefits administration technology company. The company also emphasizes its focus on monitoring market conditions, interest rate environment, and other factors that may impact its business and financial performance in the future.
As a result of these announcements, the company's shares have moved -2.2% on the market, and are now trading at a price of $71.95. For the full picture, make sure to review Voya Financial's 10-K report.
