Push release information from Organization Wire. The AP news staff was not concerned in its development.
NEW YORK–(Enterprise WIRE)–Dec 24, 2020–
Voya Financial, Inc. (NYSE: VOYA), declared now that it and Resolution Lifetime Team Holdings (Resolution Life) have received all regulatory approvals needed to comprehensive the sale of Voya’s Specific Everyday living and non-retirement legacy annuities small business to Resolution Lifestyle. As formerly introduced, the transaction is expected to near on Jan. 4, 2021.
“We are pleased to have received regulatory approval of the Person Lifetime transaction,” explained Rodney O. Martin, Jr., chairman and main govt officer, Voya Fiscal, Inc. “Thanks to the determination of staff at the two corporations, we have now completed the operational and financial demands required to near the transaction and make certain a smooth changeover for our clients. We glance forward to performing with Resolution Existence about the coming times to put together for closing the transaction on Jan. 4.”
“Resolution Daily life continues to get the job done intently with our Voya colleagues and we glimpse ahead to completing the transaction on Jan. 4, 2021 and to welcoming new workforce associates and policyholders to our small business,” mentioned Sir Clive Cowdery, founder and government chairman, Resolution Lifestyle.
Voya also introduced right now that it intends to enter into an accelerated share repurchase (ASR) settlement with a third-bash economic establishment ahead of the conclude of the 12 months, underneath which it will repurchase roughly $150 million of its prevalent stock. The first shipping and delivery of shares below the ASR would consider place in the fourth quarter of 2020, with ultimate settlement in the course of the initially quarter of 2021.
“Having been given final regulatory acceptance on the Person Life transaction – and with larger clarity on the credit rating atmosphere – we have determined to resume share repurchases. This will permit us to proceed to develop on the roughly $6.4 billion of funds that we have by now returned to shareholders through share repurchases and dividends since our initial public giving, and it reinforces our motivation to becoming good stewards of shareholder capital. We program to offer additional info on our funds administration designs in the course of our fourth-quarter and complete-year 2020 earnings simply call in February,” additional Martin.
About Voya Economical ®
Voya Economical, Inc. (NYSE: VOYA), aids Americans approach, spend and defend their savings — to get prepared to retire superior. Serving the fiscal wants of approximately 13.8 million specific and institutional consumers in the United States, Voya is a Fortune 500 organization that had $7.5 billion in profits in 2019. The business had $657 billion in total property beneath management and administration as of Sept. 30, 2020. With a clear mission to make a protected monetary long run possible — just one human being, a single family members, a person institution at a time — Voya’s eyesight is to be America’s Retirement Company ®. Licensed as a “Great Area to Work” by the Excellent Place to Perform ® Institute, Voya is equally committed to conducting enterprise in a way that is socially, environmentally, economically and ethically accountable. Voya has been acknowledged as a 2020 World’s Most Admired Enterprise by Fortune magazine 1 of the 2020 World’s Most Ethical Providers ® by the Ethisphere Institute as a member of the Bloomberg Gender Equality Index and as a “Best Position to Function for Disability Inclusion” on the Disability Equality Index by Incapacity:IN. For extra information, pay a visit to voya.com. Abide by Voya Financial on Facebook, LinkedIn and Twitter @Voya.
VOYA-IR VOYA-CF
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PUB: 12/24/2020 06:45 AM/DISC: 12/24/2020 06:45 AM
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