Strong Performance Across Businesses
Voya Financial delivered strong commercial results in Wealth Solutions and Investment Management, with defined contributions organic net flows of approximately $30 billion and $60 billion of assets added from the OneAmerica acquisition. Investment Management generated net cash flows of $7.7 billion, representing 2.5% organic growth.
Improved Financial Results
Voya reported $2 of adjusted operating earnings per share in the first quarter, a 13% increase over the prior year. Cash generation was approximately $200 million, exceeding the 90% target.
Wealth Solutions Growth
Wealth Solutions generated $207 million of adjusted operating earnings, reflecting 11% growth year-over-year, driven by higher fee-based revenues and organic growth in participant and AUM balances.
Investment Management Success
Investment Management reported $41 million in adjusted operating earnings with strong net inflows across various strategies, including private equity fund launches and demand for fixed income and private credit strategies.
Strong Balance Sheet and Capital Position
Voya ended the quarter with excess capital of approximately $150 million and an RBC ratio of 385%, with plans to further strengthen excess capital in the second quarter.