Voya Financial, Inc. (VOYA) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Home SEC Filings Voya Financial, Inc. (VOYA) 10-Q Quarterly Report Mon Aug 06 2018
Exhibit 99.1
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Voya Financial Announces Second-Quarter 2018 Results

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Second-quarter 2018 net income available to common shareholders of $0.96 per diluted share
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Second-quarter 2018 adjusted operating earnings1 of $1.13 per diluted share, after-tax, reflecting:
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$(0.13) per diluted share, after-tax, of unfavorable deferred acquisition costs and value of business acquired (“DAC/VOBA”) and other intangibles unlocking, and
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$0.06 per diluted share, after-tax and DAC/VOBA, of prepayment fees and alternative investment income above the company’s long-term expectations.
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Second-quarter 2018 adjusted operating earnings (excluding DAC/VOBA and other intangibles unlocking)1 up 20% compared with the second quarter of 2017
•
Company completes annuities transaction, reducing market and insurance risk and positioning Voya to expand its higher-growth, higher-return, capital-light businesses
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Continued progress on $1.5 billion share repurchase plan:
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$500 million of shares repurchased in the second quarter to achieve the previously announced plan to repurchase $1 billion of shares by June 30
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$500 million of share repurchases planned for the second half of 2018
•
Strong excess capital of $699 million as of June 30, 2018
2

NEW YORK, Aug. 1, 2018 — Voya Financial, Inc. (NYSE: VOYA) today announced financial results for the second quarter of 2018.

“Our second-quarter results demonstrate our commitment to growth, operational excellence and continued good stewardship of shareholder capital,” said Rodney O. Martin, Jr., chairman and CEO, Voya Financial, Inc. “A top priority for us this year was closing the transaction to sell the majority of our annuities businesses. Through this transaction, which we completed on June 1, we have significantly reduced market and insurance risk — transforming Voya into a simpler, more focused company with higher-growth, higher-return, capital-light businesses. At the same time, we continue to execute on our other 2018 priorities, which include several cost-saving, capital and growth initiatives. Our commitment to achieving these priorities is demonstrated in our financial results this quarter.

1 This press release includes certain non-GAAP financial measures. More information on these measures and reconciliations to the most comparable U.S. GAAP measures can be found in the “Use of Non-GAAP Financial Measures” section of this release and in the company’s Quarterly Investor Supplement.
2 Excess capital as of June 30, 2018 of $699 million is that which is above the company’s holding company liquidity target of $200 million and estimated statutory surplus in excess of a 425% combined risk-based capital (RBC) ratio.

1
The following information was filed by Voya Financial, Inc. (VOYA) on Wednesday, August 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: VOYA
CIK: 1535929
Form Type: 10-Q Quarterly Report
Accession Number: 0001535929-18-000037
Submitted to the SEC: Mon Aug 06 2018 4:26:08 PM EST
Accepted by the SEC: Mon Aug 06 2018
Period: Saturday, June 30, 2018
Industry: Life Insurance

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