A.M. Best Places Credit Ratings of Voya Financial, Inc. and Its Subsidiaries Under Review With Developing Implications
By a
The rating actions are in response to Voya's announcement that it has entered into a definitive agreement to sell their closed block variable annuity (CBVA) and individual fixed indexed annuity (FIA) segments to a consortium of investors led by
These transactions are expected to reduce Voya's earnings volatility. The CBVA segment has been susceptible to earnings volatility and substantial statutory reserve charges due to revisions in policyholder behavior assumptions. While the transaction reduces Voya's shareholder's equity by about
The FSR of A (Excellent) and Long-Term ICRs of "a+" have been placed under review with developing implications for the following life insurance subsidiaries of
-- "bbb+" on
-- "bbb+" on
-- "bbb+" on
-- "bbb+" on
-- "bbb+" on
-- "bbb+" on
-- "bbb-" on
Keywords for this news article include:
Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2018, NewsRx LLC
Prudential, Legal & General reach sixth longevity reinsurance agreement
Athene Holding Ltd. Enters into Reinsurance Agreement with Voya Financial
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News