Voya Financial ( (VOYA) ) just unveiled an update.
Voya Financial announces CEO Robert Grubka’s departure and updates on its Stop Loss business, projecting a higher loss ratio of 90-105% for January 2024 due to increased claims frequency. The company plans to adjust premium rates and focus on profitability for 2025, expecting a 10-20% decline in in-force premiums. It remains committed to returning $800 million to shareholders and focuses excess capital on acquiring OneAmerica’s retirement business.
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