Voya Financial rebounds to profitable third quarter
Voya Financial Inc. on Tuesday announced net income available to common shareholders of $149 million, or 81 cents per diluted share, compared with a year-ago net loss of $248 million, or $1.24 per share. The improvement reflects an increase in before-tax income from its closed block of variable annuities and a decline in net investment losses, the company said in a release. The quarter’s results included retirement segment net inflows of $1.1 billion, reflecting growth in corporate and tax-exempt markets; investment management net inflows of $1.5 billion; net inflows of $87 for investment-only products in annuities; and favorable mortality in individual life. “We delivered strong new business and earnings growth during the third quarter,” said Rodney Martin Jr., chairman and CEO. The New York-based insurer has more than 430 employees in downtown Des Moines.