Voya Financial, Inc. is a diversified financial services organization that helps Americans plan, invest, and protect their savings. The company operates through three main business segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment provides full-service retirement products, recordkeeping, stable value products, and financial wellness tools to corporate, tax-exempt, and institutional clients. The Health Solutions segment offers workplace employee benefits, including stop-loss, group life, group disability, and voluntary supplemental insurance products. The Investment Management segment provides fixed income, equity, multi-asset, and alternative investment products to both institutional and retail clients.
Voya generates revenue through a mix of fee-based income from asset management and retirement recordkeeping, as well as underwriting premiums from its health and employee benefits business. Following its spin-off from ING Group in 2013 and subsequent rebranding, Voya strategically divested its capital-intensive individual life insurance and legacy annuities businesses to focus on higher-margin, capital-light workplace and institutional markets. Geographically, the company operates primarily in the United States. Voya's competitive position is strengthened by its integrated approach to workplace benefits and savings, leveraging its scale to serve over 15 million customers and manage hundreds of billions in total client assets.
