Order Prints

November 12, 2024 Reinsurance No comments

VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY – 3rd QUARTER FINANCIALS 2024

U.S. Markets via PUBT

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY

ASSETS

			Current Statement Date		4
		1	2		3	December 31
					Net Admitted Assets	Prior Year Net
		Assets	Nonadmitted Assets		(Cols. 1 - 2)	Admitted Assets
1.	Bonds	.......... 21,094,865,331	.................................0	..........	21,094,865,331	.......... 21,668,334,606
2.	Stocks:
	2.1 Preferred stocks	140,948,259	0	...............	140,948,259	................127,574,102
	2.2 Common stocks	113,599,562	0	................	113,599,562	................104,874,395

3. Mortgage loans on real estate:

	3.1 First liens	..................................................................................................			3,734,844,027	0	3,734,844,027	4,043,855,659
	3.2 Other than first liens			0	0	0	0
4.	Real estate:
	4.1 Properties occupied by the company (less $	0
	encumbrances)			0	0	0	0
	4.2 Properties held for the production of income (less
	$	0	encumbrances)	.................................0	.................................0	.................................0	.................................0
	4.3 Properties held for sale (less $	0

	.......................................................................................encumbrances)			................. 22,850,398	.................................0	................. 22,850,398	................. 22,850,398
5.	Cash ($	46,164,289	), cash equivalents
	($	315,317,674	) and short-term
	investments ($	156,026,045 )	................517,508,009	.................................0	................517,508,009	................505,575,616
6.	Contract loans (including $	.................................	0	premium notes)	................208,396,981	................... 3,394,908	................205,002,072	................201,897,932
7.	Derivatives				................237,703,558	.................................0	................237,703,558	................290,381,000
8.	Other invested assets			............ 1,425,101,175	................. 15,940,852	............ 1,409,160,323	............ 1,328,504,364
9.	Receivables for securities			................. 36,017,293	.................................0	................. 36,017,293	................. 34,109,079
10.	Securities lending reinvested collateral assets	................708,603,918	.................................0	................708,603,918	................491,364,752
11.	Aggregate write-ins for invested assets	...................... 666,112	.................................0	...................... 666,112	................... 2,373,633
12.	Subtotals, cash and invested assets (Lines 1 to 11)	.......... 28,241,104,623	................. 19,335,760	.......... 28,221,768,863	.......... 28,821,695,535
13.	Title plants less $	0 charged off (for Title insurers
	only)				.................................0	.................................0	.................................0	.................................0
14.	Investment income due and accrued	................263,272,458	.......................330,588	................262,941,871	................263,883,338
15.	Premiums and considerations:
	15.1 Uncollected premiums and agents' balances in the course of collection	.....................(556,562)	.................................0	.....................(556,562)	.....................(187,407)
	15.2 Deferred premiums, agents' balances and installments booked but
	deferred and not yet due (including $	0
	earned but unbilled premiums)	0	0	0	0
	15.3 Accrued retrospective premiums ($	0 ) and
	contracts subject to redetermination ($	0 )	.................................0	0	0	0

16. Reinsurance:

	....................................................16.1 Amounts recoverable from reinsurers	................. 63,978,154	.................................0	................. 63,978,154	................. 65,955,558
	16.2 Funds held by or deposited with reinsured companies	.................................0	.................................0	.................................0	.................................0
	16.3 Other amounts receivable under reinsurance contracts	................. 24,020,001	.................................0	................. 24,020,001	................. 44,827,070
17.	Amounts receivable relating to uninsured plans	.................................0	.................................0	.................................0	.................................0
18.1	....Current federal and foreign income tax recoverable and interest thereon	.................................0	.................................0	.................................0	.................................0
18.2	Net deferred tax asset	................411,326,362	................169,977,441	................241,348,921	................254,934,887
19.	Guaranty funds receivable or on deposit	...................8,066,588	.................................0	...................8,066,588	................... 8,113,749
20.	Electronic data processing equipment and software	.......................... 9,727	.......................... 9,727	.................................0	.................................0
21.	Furniture and equipment, including health care delivery assets
	($	0 )	.................................0	.................................0	.................................0	.................................0
22.	.........Net adjustment in assets and liabilities due to foreign exchange rates	.................................0	.................................0	.................................0	.................................0
23.	Receivables from parent, subsidiaries and affiliates	................... 2,106,536	........................ 17,985	...................2,088,551	................... 3,843,640
24.	Health care ($	0 ) and other amounts receivable	........................ 66,674	........................ 66,674	.................................0	.................................0
25.	........................................Aggregate write-ins for other than invested assets	................404,151,083	...................5,956,250	................398,194,834	................389,707,701
26.	Total assets excluding Separate Accounts, Segregated Accounts and
	Protected Cell Accounts (Lines 12 to 25)	.......... 29,417,545,645	............... 195,694,425	.......... 29,221,851,220	.......... 29,852,774,072
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts	.........101,014,501,804	.................................0	.........101,014,501,804	.......... 90,874,447,988
28.	Total (Lines 26 and 27)		130,432,047,449	195,694,425	130,236,353,024	120,727,222,060
	DETAILS OF WRITE-INS
1101.	Derivative receivables
...................... 666,112	.................................0	...................... 666,112	................... 2,373,633
1102.	......................................................................................................................	....................................	....................................	....................................	....................................
1103.	......................................................................................................................	....................................	....................................	....................................	....................................
1198.	Summary of remaining write-ins for Line 11 from overflow page	.................................0	.................................0	.................................0	.................................0
1199.	Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)	666,112	0	666,112	2,373,633
2501.	Margin call collateral	................361,526,931	.................................0	................361,526,931	................351,053,417
2502.	Miscellaneous assets	................. 42,624,153	...................5,956,250	................. 36,667,903	................. 28,400,387
2503.	Admitted disallowed IMR	.................................0	.................................0	.................................0	................. 10,253,897
2598.	...................Summary of remaining write-ins for Line 25 from overflow page	.................................0	.................................0	.................................0	.................................0
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)	404,151,083	5,956,250	398,194,834	389,707,701

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

					1	2
					Current	December 31
					Statement Date	Prior Year
1.	Aggregate reserve for life contracts $	.......... 24,820,264,948 less $	.................................0 included in Line 6.3
	(including $	0	Modco Reserve)	24,820,264,948	25,586,104,229
2.	Aggregate reserve for accident and health contracts (including $	0 Modco Reserve)	0	0
3.	Liability for deposit-type contracts (including $	0 Modco Reserve)	777,218,723	718,929,512

4. Contract claims:

	4.1	Life			.................................	0	0
	4.2	Accident and health			.................................	0	0
5.	Policyholders' dividends/refunds to members $	0	and coupons $	0	due
	and unpaid			.................................	0	0
6.	Provision for policyholders' dividends, refunds to members and coupons payable in following calendar year - estimated
	amounts:
	6.1	Policyholders' dividends and refunds to members apportioned for payment (including $	0
		Modco)			.................................	0	0
	6.2	Policyholders' dividends and refunds to members not yet apportioned (including $	0	Modco)	0	0
	6.3	Coupons and similar benefits (including $	0	Modco)	.................................	0	0
7.	Amount provisionally held for deferred dividend policies not included in Line 6	.................................	0	0

8. Premiums and annuity considerations for life and accident and health contracts received in advance less

	$	.................................0	discount; including $	0	accident and health premiums	.........................	0	0
9.	Contract liabilities not included elsewhere:
	9.1	Surrender values on canceled contracts				0	0
	9.2	Provision for experience rating refunds, including the liability of $	0 accident and health
		experience rating refunds of which $	0 is for medical loss ratio rebate per the Public Health
		Service Act					0	0
	9.3 Other amounts payable on reinsurance, including $	0	assumed and $	44,999,955
		ceded					44,999,955	8,962,133
	9.4 Interest Maintenance Reserve				14,599,465	0
10.	Commissions to agents due or accrued-life and annuity contracts $	2,080,976 , accident and health
	$	.................................0 and deposit-type contract funds $	.................................	0		1,809,470
			2,080,976
11.	..............................................................................Commissions and expense allowances payable on reinsurance assumed			.................................0	.................................0
12.	............................................................................................................................................General expenses due or accrued				................112,186,263	................114,293,717
13.	Transfers to Separate Accounts due or accrued (net) (including $	(4,747,383) accrued for expense
	allowances recognized in reserves, net of reinsured allowances)			................(34,859,151)	................(35,492,681)
14.	Taxes, licenses and fees due or accrued, excluding federal income taxes			................... 1,668,175	................... 1,328,661
15.1	Current federal and foreign income taxes, including $	2,548,060	on realized capital gains (losses)	...................2,299,548	................. 16,155,974
15.2	Net deferred tax liability					.................................0	.................................0
16.	Unearned investment income				.................................0	.................................0
17.	.......................................................................................Amounts withheld or retained by reporting entity as agent or trustee			...................5,028,852	...................4,469,205
18.	........................Amounts held for agents' account, including $	...........................................60,302 agents' credit balances	........................ 63,435	........................ 41,957
19.	........................................................................................................................................Remittances and items not allocated				................... 7,829,836	................... 5,779,367
20.	Net adjustment in assets and liabilities due to foreign exchange rates			.................................0	.................................0
21.	.......................................................................................Liability for benefits for employees and agents if not included above			.................................0	.................................0
22.	Borrowed money $	26,466,798 and interest thereon $	24,795	................. 26,491,593	................... 1,871,922
23.	Dividends to stockholders declared and unpaid				0	0

24. Miscellaneous liabilities:


	24.01	Asset valuation reserve			................247,610,248	................224,871,600
	.................................24.02 Reinsurance in unauthorized and certified ($	0 ) companies	.......................................................	.................................0	.................................0
	24.03 Funds held under reinsurance treaties with unauthorized and certified ($	0 ) reinsurers	.................................0	.................................0
	24.04	Payable to parent, subsidiaries and affiliates		..................70,973,367	................132,623,808
	24.05	Drafts outstanding			.................................0	.................................0
	24.06	............................................................................................................Liability for amounts held under uninsured plans		.................................0	.................................0
	24.07	Funds held under coinsurance			.................................0	.................................0
	24.08	Derivatives			................260,363,835	................263,911,900
	24.09	Payable for securities			................. 32,813,449	................. 39,208,753
	24.10	Payable for securities lending			................708,603,918	................491,364,752
	24.11 Capital notes $	0 and interest thereon $	0	0	0
25.	Aggregate write-ins for liabilities			271,272,051	322,038,992
26.	Total liabilities excluding Separate Accounts business (Lines 1 to 25)		27,371,509,485	27,898,273,271
27.	From Separate Accounts Statement			101,014,501,804	90,874,447,988
28.	Total liabilities (Lines 26 and 27)			128,386,011,289	118,772,721,259
29.	Common capital stock			2,750,000	2,750,000
30.	..............................................................................................................................................................Preferred capital stock			.................................0	.................................0
31.	..........................................................................................................Aggregate write-ins for other than special surplus funds		.................................0	.................................0
32.	............................................................................................................................................................................Surplus notes			.................................0	.................................0
33.	Gross paid in and contributed surplus			1,468,049,768	1,468,049,768
34.	Aggregate write-ins for special surplus funds		0	10,253,897
35.	Unassigned funds (surplus)			379,541,967	473,447,135

36. Less treasury stock, at cost:

	36.1	0	shares common (value included in Line 29	$	.................................0	)	.................................0	.................................0
	36.2	0	shares preferred (value included in Line 30	$	.................................0	)	.................................0	.................................0
37.	Surplus (Total Lines 31+32+33+34+35-36) (including $	0 in Separate Accounts Statement)	1,847,591,735	1,951,750,800
38.	Totals of Lines 29, 30 and 37	...................................................................................................................................................			1,850,341,735	1,954,500,800
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)				130,236,353,024	120,727,222,060
	DETAILS OF WRITE-INS
2501.	Margin call collateral					............... 254,152,015	................306,377,578
2502.	Unclaimed property					................... 8,009,283	...................8,041,985
2503.	Derivative payable					................... 7,765,786	................... 7,271,579
2598.	..............................................................................................Summary of remaining write-ins for Line 25 from overflow page			................... 1,344,968	.......................347,850
2599.	Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)				271,272,051	322,038,992
3101	....................................	....................................

3102	....................................	....................................
3103	....................................	....................................
3198.	Summary of remaining write-ins for Line 31 from overflow page	.................................0	.................................0
3199.	Totals (Lines 3101 through 3103 plus 3198)(Line 31 above)	0	0
3401.	Admitted disallowed IMR	0	10,253,897

3402	....................................	....................................
3403	....................................	....................................
3498.	Summary of remaining write-ins for Line 34 from overflow page	.................................0	.................................0
3499.	Totals (Lines 3401 through 3403 plus 3498)(Line 34 above)	0	10,253,897

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY

SUMMARY OF OPERATIONS

		1	2	3
		Current Year	Prior Year	Prior Year Ended
		To Date	To Date	December 31
1.	Premiums and annuity considerations for life and accident and health contracts	............ 9,971,845,671	............ 9,919,241,640	.......... 13,188,056,485
2.	Considerations for supplementary contracts with life contingencies	................... 3,832,585	................... 5,176,434	................... 6,950,078
3.	Net investment income	............ 1,116,281,241	............ 1,115,568,862	............ 1,529,991,695
4.	Amortization of Interest Maintenance Reserve (IMR)	................. (9,303,502)	................. 12,369,543	................. 20,400,355
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	.................................0	.................................0	.................................0
6.	Commissions and expense allowances on reinsurance ceded	................... 2,525,932	...................1,490,951	................... 2,523,076
7.	Reserve adjustments on reinsurance ceded	..............(181,285,676)	.............. (138,703,391)	..............(199,225,860)
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract
	guarantees from Separate Accounts	................361,944,686	................320,047,872	................431,323,070
	8.2 Charges and fees for deposit-type contracts	.................................0	.................................0	.................................0
	8.3 Aggregate write-ins for miscellaneous income	261,482,818	227,203,692	304,460,220
9.	Totals (Lines 1 to 8.3)	11,527,323,754	11,462,395,603	15,284,479,120
10.	Death benefits	0	.................................0	.................................0
11.	Matured endowments (excluding guaranteed annual pure endowments)	.................................0	.................................0	.................................0
12.	Annuity benefits	................282,612,634	............... 260,116,511	................374,120,131
13.	Disability benefits and benefits under accident and health contracts	.................................0	.................................0	.................................0
14.	Coupons, guaranteed annual pure endowments and similar benefits	.................................0	.................................0	.................................0
15.	Surrender benefits and withdrawals for life contracts	.......... 13,706,695,181	.......... 11,513,248,574	.......... 15,914,651,695
16.	Group conversions	.................................0	.................................0	.................................0
17.	Interest and adjustments on contract or deposit-type contract funds	................. 15,969,487	................. 15,167,893	................. 20,670,877
18.	Payments on supplementary contracts with life contingencies	................. 10,362,692	...................6,044,258	................... 8,136,849
19.	Increase in aggregate reserves for life and accident and health contracts	(765,839,280)	(1,298,658,192)	(1,889,686,009)
20.	Totals (Lines 10 to 19)	.......... 13,249,800,713	.......... 10,495,919,044	.......... 14,427,893,543
21.	Commissions on premiums, annuity considerations, and deposit-type contract funds (direct
	business only)	................214,913,784	............... 192,924,044	............... 260,562,104
22.	Commissions and expense allowances on reinsurance assumed	..........................8,268	..........................7,910	........................ 10,569
23.	General insurance expenses and fraternal expenses	................421,314,353	................429,796,045	................571,257,948
24.	Insurance taxes, licenses and fees, excluding federal income taxes	................. 21,700,586	................. 18,254,512	................. 22,842,225
25.	Increase in loading on deferred and uncollected premiums	.................................0	.................................0	.................................0
26.	Net transfers to or (from) Separate Accounts net of reinsurance	.......... (2,886,545,851)	..............(116,996,689)	..............(610,748,736)
27.	Aggregate write-ins for deductions
2,796,171	5,213,704	6,582,322
28.	Totals (Lines 20 to 27)	11,023,988,023	11,025,118,569	14,678,399,974
29.	Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus
	Line 28)	................503,335,731	................437,277,034	................606,079,147
30.	Dividends to policyholders and refunds to members	0	0	0
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal
	income taxes (Line 29 minus Line 30)	................503,335,731	................437,277,034	................606,079,147
32.	Federal and foreign income taxes incurred (excluding tax on capital gains)	29,836,294	9,914,586	(4,722,927)
33.	Net gain from operations after dividends to policyholders, refunds to members and federal income
	taxes and before realized capital gains or (losses) (Line 31 minus Line 32)	................473,499,437	................427,362,448	................610,802,074

34. Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital

	gains tax of $	(1,585,447) (excluding taxes of $	4,133,507
	transferred to the IMR)		(12,485,370)	(25,158,150)	(33,992,211)
35.	Net income (Line 33 plus Line 34)	461,014,067	402,204,298	576,809,863
		CAPITAL AND SURPLUS ACCOUNT
36.	Capital and surplus, December 31, prior year	1,954,500,800	1,842,075,764	1,842,075,764
37.	Net income (Line 35)		461,014,067	402,204,298	576,809,863
38.	Change in net unrealized capital gains (losses) less capital gains tax of $	(4,455,194)	(59,246,424)	(75,215,638)	(202,462,958)
39.	Change in net unrealized foreign exchange capital gain (loss)	2,539,219	814,703	(1,881,722)
40.	Change in net deferred income tax	(16,311,184)	10,101,862	(7,539,505)
41.	............................................................................................................Change in nonadmitted assets	................... 3,904,962	................(38,756,397)	................(14,293,796)
42.	.......................................Change in liability for reinsurance in unauthorized and certified companies	.................................0	.................................0	.................................0
43.	..........................Change in reserve on account of change in valuation basis, (increase) or decrease	0	0	0
44.	Change in asset valuation reserve	(22,738,648)	5,161,791	73,214,809
45.	Change in treasury stock		0	0	0
46.	.........................................Surplus (contributed to) withdrawn from Separate Accounts during period	.................................0	.................................0	.................................0
47.	................................................................Other changes in surplus in Separate Accounts Statement	.................................0	.................................0	.................................0
48.	Change in surplus notes
	0	0	0
49.	Cumulative effect of changes in accounting principles	0	0	0
50.	Capital changes:
	50.1 Paid in		.................................0	.................................0	.................................0
	..................................................................................50.2 Transferred from surplus (Stock Dividend)	.................................0	.................................0	.................................0
	50.3 Transferred to surplus		0	0	0

51. Surplus adjustment:

	51.1 Paid in	0	0	0
	51.2 Transferred to capital (Stock Dividend)	0	.................................0	.................................0
	51.3 Transferred from capital	.................................0	.................................0	.................................0

	51.4 Change in surplus as a result of reinsurance	0	.................................0	.................................0
52.	Dividends to stockholders	..............(473,000,000)	..............(310,000,000)	..............(310,000,000)
53.	Aggregate write-ins for gains and losses in surplus	(321,056)	(337,250)	(1,421,655)

54.	Net change in capital and surplus for the year (Lines 37 through 53)	(104,159,066)	(6,026,631)	112,425,036
55.	Capital and surplus, as of statement date (Lines 36 + 54)	1,850,341,735	1,836,049,133	1,954,500,800
	DETAILS OF WRITE-INS
..........................................................................................................................08.301. Miscellaneous income	................181,756,456	................132,900,165	................181,207,090
08.302. Recordkeeping fees	79,726,361	................. 94,303,142	................123,253,130
...............................................................................................................................................................08.303. Reinsurance income	0	............................. 386	.................................0
........................................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page	.................................0	.................................0	.................................0
08.399. Totals (Lines 08.301 through 08.303 plus 08.398) (Line 8.3 above)	261,482,818	227,203,692	304,460,220
2701.	Miscellaneous expense	2,394,442	2,964,333	4,152,948
2702.	Reinsurance expense	401,729	................... 2,249,371	................... 2,429,374
2703	....................................	....................................	....................................
2798.	Summary of remaining write-ins for Line 27 from overflow page	.................................0	.................................0	.................................0
2799.	Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)	2,796,171	5,213,704	6,582,322
5301.	Amortization of pension	60,750	54,000	(1,069,311)
5302.	Amortization of otherpost-employmentbenefits	(381,806)	(391,250)	(352,344)
5303	....................................	....................................	....................................
5398.	Summary of remaining write-ins for Line 53 from overflow page	.................................0	.................................0	.................................0
5399.	Totals (Lines 5301 through 5303 plus 5398)(Line 53 above)	(321,056)	(337,250)	(1,421,655)

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY

CASH FLOW

Cash from Operations

Current Year

To Date

Prior Year

To Date

Prior Year Ended

December 31

1.	Premiums collected net of reinsurance	............ 9,976,047,410	............ 9,923,832,496	.......... 13,194,000,764
2.	Net investment income	............ 1,198,187,045	............ 1,187,316,242	............ 1,647,990,253
3.	Miscellaneous income	645,946,970	568,271,531	745,122,439
4.	Total (Lines 1 to 3)	11,820,181,424	11,679,420,269	15,587,113,455
5.	Benefit and loss related payments	.......... 14,158,910,444	.......... 11,923,800,467	.......... 16,512,184,199
6.	.................Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts	...........(2,887,179,381)	................(98,520,309)	..............(586,205,372)
7.	...............................................Commissions, expenses paid and aggregate write-ins for deductions	................661,368,902	................655,063,591	................872,004,345
8.	Dividends paid to policyholders	.................................0	.................................0	.................................0
9.	Federal and foreign income taxes paid (recovered) net of $	709,732 tax on capital
	gains (losses)	46,240,780	(2,813,239)	(6,007,087)
10.	Total (Lines 5 through 9)	11,979,340,744	12,477,530,510	16,791,976,085
11.	Net cash from operations (Line 4 minus Line 10)	(159,159,320)	(798,110,240)	(1,204,862,630)

Cash from Investments

12. Proceeds from investments sold, matured or repaid:

	12.1	Bonds	............ 2,733,694,319	............ 3,701,447,020	............ 4,613,916,554
	12.2	Stocks	...................4,100,000	................. 56,670,614	................157,887,655
	12.3	Mortgage loans	................470,275,450	................340,291,267	................451,112,413
	12.4	Real estate	.................................0	.................................0	.................................0
	12.5	Other invested assets	................. 80,049,753	................. 65,065,650	................131,862,626
	12.6	Net gains or (losses) on cash, cash equivalents and short-term investments	...................... 111,432	.....................(456,961)	.....................(111,479)
	12.7	Miscellaneous proceeds	54,384,962	226,049,083	303,714,849
	12.8 Total investment proceeds (Lines 12.1 to 12.7)	............ 3,342,615,916	............ 4,389,066,673	............ 5,658,382,617
13.	Cost of investments acquired (long-term only):
	13.1	Bonds	............ 2,229,384,080	............ 2,733,287,523	............ 3,185,433,224
	13.2	Stocks	................. 17,746,000	................... 6,174,128	................... 6,174,128
	13.3	Mortgage loans	................196,017,156	................266,512,923	................295,829,031
	13.4	Real estate	.................................0	.................................0	.................................0
	13.5	Other invested assets	................170,856,731	................135,499,011	................229,567,838
	13.6	Miscellaneous applications	225,542,685	49,777,990	0
	13.7	Total investments acquired (Lines 13.1 to 13.6)	2,839,546,651	3,191,251,575	3,717,004,221
14.	Net increase (or decrease) in contract loans and premium notes	3,406,443	1,944,501	2,229,910
15.	Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)	499,662,823	1,195,870,597	1,939,148,486
		Cash from Financing and Miscellaneous Sources

16.	Cash provided (applied):
	16.1	Surplus notes, capital notes
	.................................0	.................................0	.................................0
	16.2	Capital and paid in surplus, less treasury stock	.................................0	.................................0	.................................0
	16.3	Borrowed funds	................. 24,619,672	.....................(402,898)	.....................(538,383)
	16.4	Net deposits on deposit-type contracts and other insurance liabilities	................. 58,289,212	................(54,786,944)	................(55,093,761)
	..........................................................................................................16.5 Dividends to stockholders	................473,000,000	................310,000,000	................310,000,000
	....................................................................................................16.6 Other cash provided (applied)	61,520,007	(26,457,236)	(276,200,210)
17.	Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5
	plus Line 16.6)	(328,571,110)	(391,647,079)	(641,832,354)
	RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
18.	.Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)	................. 11,932,393	................... 6,113,278	................. 92,453,502
19.	Cash, cash equivalents and short-term investments:
	19.1	Beginning of year	................505,575,617	................413,122,115	................413,122,115
	19.2 End of period (Line 18 plus Line 19.1)	517,508,010	419,235,392	505,575,617

Note: Supplemental disclosures of cash flow information for non-cash transactions:

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY

EXHIBIT 1

DIRECT PREMIUMS AND DEPOSIT-TYPE CONTRACTS

		1	2	3
		Current Year	Prior Year	Prior Year Ended
		To Date	To Date	December 31
1.	Individual life	................. 48,364,030	................. 49,475,226	................. 65,509,274
2.	Group life	3,482,020	................... 3,757,222	................... 5,057,111
3.	Individual annuities	7,359,587	9,713,853	11,803,536
4.	Group annuities	9,966,575,782	9,913,940,614	13,180,999,067
5.	Accident & health	17,039	22,178	27,166
6.	Fraternal	0	0	0
7.	Other lines of business	0	0	0
8.	Subtotal (Lines 1 through 7)	10,025,798,458	9,976,909,092	13,263,396,154
9.	Deposit-type contracts	................215,170,402	................. 89,498,416	................147,408,833
10.	Total (Lines 8 and 9)	10,240,968,860	10,066,407,509	13,410,804,987

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Voya Retirement Insurance and Annuity Company

NOTES TO FINANCIAL STATEMENTS

____________________________________________________________________________________________________

1. Summary of Significant Accounting Policies and Going Concern

Accounting Practices
The financial statements of Voya Retirement Insurance and Annuity Company (the "Company" or "VRIAC") are presented on the basis of accounting practices prescribed or permitted by the Connecticut Insurance Department.
The Connecticut Insurance Department recognizes only statutory accounting practices prescribed or permitted by the State of Connecticut for determining and reporting the financial condition and results of operations of an insurance company, and for determining its solvency under the Connecticut Insurance Law. The National Association of Insurance Commissioners' ("NAIC") Accounting Practices and Procedures Manual ("NAIC SAP") has been adopted as a component of prescribed or permitted practices by the State of Connecticut. The Commissioner of the Connecticut Insurance Department has the right to permit other specific practices that deviate from prescribed practices.
The Company did not have any prescribed or permitted practices as of September 30, 2024 or December 31, 2023.

		F/S	F/S
	SSAP#	Page	Line #	2024	2023
Net Income:
(1) VRIAC State basis (Page 4, Line 35, Columns 1 & 3)	XXX	XXX	XXX	$ 461,014,067	$ 576,809,863

State prescribed practices that are an increase/(decrease) from
NAIC SAP:

None

State permitted practices that are an increase/(decrease) from
NAIC SAP:

	None					-			-
(4)	NAIC SAP (1-2-3=4)	XXX	XXX	XXX	$	461,014,067	$	576,809,863
Surplus:

(5)	VRIAC State basis (Page 3, Line 38, Columns 1 & 2)	XXX	XXX	XXX	$	1,850,341,735	$	1,954,500,800

State prescribed practices that are an increase/(decrease) from
NAIC SAP:

None

State permitted practices that are an increase/(decrease) from
NAIC SAP:

None			-	-
(8) NAIC SAP (5-6-7=8)	XXX	XXX XXX $ 1,850,341,735	$1,954,500,800

Accounting Policy
1. Bonds not backed by other loans are stated at either amortized cost using the yield to worst method or the lower of cost or fair market value. The Company does not have any SVO-Identified investments as defined in SSAP No. 26R, Bonds-Revised.

Loan-backedsecurities are stated at either amortized cost or the lower of amortized cost or fair market value. Amortized cost is determined using the interest method and includes anticipated prepayments. The prospective adjustment method is used to determine the amortized cost for the majority of loan-backed and structured securities. For certain securities, the retrospective adjustments methodology is utilized, including agency and non-agency pools.

The Company made no significant changes to its accounting policies or practices as of September 30, 2024.

Certain amounts in the Company's statutory basis financial statements have been reclassified to conform to the 2024 financial statement presentation.

1. Going ConceNone
Accounting Changes and Corrections of ErrorsNo significant change
Business Combinations and Goodwill

None

4. Discontinued Operations None

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Voya Retirement Insurance and Annuity Company

NOTES TO FINANCIAL STATEMENTS

____________________________________________________________________________________________________

5. Investments

D. Loan-Backed Securities

Prepayment assumptions for loan-backed and structured securities are obtained from third party services, broker dealer survey values or internal estimates.
The following table discloses in aggregate the Other than Temporary Impairment ("OTTI") recognized in accordance with structured securities subject to SSAP No. 43R,Loan-backedand Structured Securities ("SSAP No. 43R") as of September 30, 2024 due to intent to sell or inability or lack of intent to hold to recovery.

		(1)			(2)					(3)
	Amortized Cost	Other-than-Temporary Impairment
		Basis Before		Recognized in Loss
		Other-than-
			(2a)		(2b)
		Temporary					Fair Value
		Impairment		Interest		Non-interest
OTTI recognized 1st Quarter
a. Intent to sell	$	5,529,876		$	721,526		$	-	$	4,808,350

Inability or lack of intent to retain the investment in the security for a period of time sufficient

	to recover the amortized cost basis		-			-			-	-
c.	Total 1st Quarter (a+b)	$	5,529,876	$	721,526	$	-	$	4,808,350
OTTI recognized 2nd Quarter

d.	Intent to sell	$	11,565,939	$	4,575,566	$	-	$	6,990,373

Inability or lack of intent to retain the investment in the security for a period of time sufficient

	to recover the amortized cost basis		-			-			-	-
f.	Total 2nd Quarter (d+e)	$	11,565,939	$	4,575,566	$	-	$	6,990,373
OTTI recognized 3rd Quarter

g.	Intent to sell	$	1,293,561	$	247,218	$	-	$	1,046,343

Inability or lack of intent to retain the investment in the security for a period of time sufficient

	to recover the amortized cost basis		-			-			-		-
i.	Total 3rd Quarter (g+h)	$	1,293,561		$	247,218		$	- $	1,046,343


m.	Annual Aggregate Total (c+f+i+l)			$	5,544,310	$	-

The following table discloses in detail the OTTI's recognized by the Company in accordance with structured securities subject to SSAP No. 43R for the reporting period July 1, 2024 to September 30, 2024.

(1)		(2)			(3)			(4)			(5)		(6)	(7)
		Book/Adjusted						Recognized		Amortized Cost				Date of
		Carrying Value		Present Value					After Other-				Financial
		Amortized Cost			Other-Than-			Than-		Fair Value at		Statement
CUSIP		Before Current			of Projected			Temporary			Temporary		Where
Period OTTI		Cash Flows			Impairment			Impairment		Time of OTTI		Reported
36255WAG0	$	133,750	$	133,300		$	450	$	133,300	$	133,300	9/30/2024
Total				$	450

The following table shows all impaired securities at September 30, 2024 in the aggregate for which an OTTI has not been recognized in earnings as a realized loss, including securities with a recognized OTTI for non-interest related declines when a non-recognized interest related impairment remains:
1. Aggregate amount of unrealized losses:

1.	Less than 12 Months	$	1,889,966
2.	12 Months or Longer	$	420,168,231

b. The aggregate related fair value of securities with unrealized losses:

1.	Less than 12 Months	$	59,266,397
2.	12 Months or Longer	$	3,111,286,525

If the fair value of a loan-backed or structured security is less than its amortized cost basis at the balance sheet date, the Company determines whether the impairment is other-than-temporary. Amortized cost basis includes adjustments made to the cost of an investment for accretion, amortization, collection of cash and previous OTTI recognized as a realized loss.

7. 1

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Voya Retirement Insurance and Annuity Company

NOTES TO FINANCIAL STATEMENTS

____________________________________________________________________________________________________

The general categories of information that the Company considers in reaching the conclusion that an impairment is other-than-temporary are as follows:

Intent to Sell - if the Company intends to sell the loan-backed or structured security (that is, it has decided to sell the security), an OTTI is considered to have occurred.

Intent and Ability to Hold - if the Company does not intend to sell the loan-backed or structured security, the Company determines whether it has the intent and ability to retain the investment in the security for a period of time sufficient to recover the amortized cost basis. If the Company does not have the intent and ability to retain the investment for the time sufficient to recover the amortized cost basis, an OTTI shall be considered to have occurred.

Recovery of the Amortized Cost Basis - if the Company does not expect to recover the entire amortized cost basis of the security, the Company would be unable to assert that it will recover its amortized cost basis even if it does not intend to sell the security and the entity has the intent and ability to hold. Therefore, in those situations, an OTTI shall be considered to have occurred. In assessing whether the entire amortized cost basis of the security will be recovered, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If present value of cash flows expected to be collected is less than the amortized cost basis of the security, the entire amortized cost basis of the security will not be recovered (that is, a non-interest related decline exists), and an OTTI shall be considered to have occurred.

The Company conducts a thorough quarterly review of all loan-backed and structured security holdings to conclude if the amortized cost basis of those securities is recoverable. This review is documented at a detailed level and encompasses numerous factors and assumptions. The overall credit tracking process yields a variety of key data that supports the impairment decision making process. The review process and related assumptions are updated quarterly based on trends in the marketplace.

As part of the quarterly review, the Company identifies securities whose ratio of credit enhancement to serious delinquency does not exhibit ample protection against principal loss. Those securities are put through a more detailed analysis which covers, among other factors, (a) an analysis of the underlying collateral characteristics;

a review of the historical performance of the collateral in the deal; (c) structural analysis of the security; and

cash flow scenario analysis.

The prospective adjustment method is used to determine the amortized cost for the majority of loan-backed and structured securities as well as securities that have experienced an OTTI. For certain securities, including Agency-backed securities, the retrospective adjustment method is used to determine amortize cost.

The market values for loan-backed and structured securities are obtained as follows:

1. For securities that are considered marketable - market values are received from third party pricing services or by obtaining a bid price from brokerage firms engaged in the business of trading those securities.
2. For securities that were privately placed and for which no ready market exists - the Company establishes fair market values using a matrix pricing system which considers key factors such as credit quality, industry sector, size of the issuer and transaction structure. A limited portion of the private placement portfolio is priced independently of the matrix system as described above.
Dollar Repurchase Agreements and Securities Lending Transactions
1. Collateral Sold or Received

		Fair Value
b) The fair value of that collateral and of
the portion of that collateral that it has	$	708,603,918
sold or repledged

Repurchase Agreements Transactions Accounted for as Secured Borrowing None
Reverse Repurchase Agreements Transactions Accounted for as Secured Borrowing
1. The Company may periodically enter into a reverse repurchase secured borrowing agreement as a temporary bridge liquidity facility to better match operational cash flow needs. In such cases, the Company will pledge investment grade corporate bonds to an approved dealer counterparty. As part of the agreement, the dealer will apply haircuts depending on specific collateral characteristics, and only advance funds against the lendable value (i.e., over- collateralized loan) of the collateral. The effective reverse repurchase borrowing rate will be market dependent, but in line with similar short-term collateralized lending rates.

7. 2

STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Voya Retirement Insurance and Annuity Company

NOTES TO FINANCIAL STATEMENTS

____________________________________________________________________________________________________

Type of Repo Trades Used

	FIRST	SECOND	THIRD
	QUARTER	QUARTER	QUARTER
a. Bilateral (YES/NO)	NO	YES	YES
b. Tri-Party (YES/NO)	NO	NO	NO

Original (Flow) & Residual Maturity

		FIRST			SECOND		THIRD
		QUARTER			QUARTER		QUARTER
a. Maximum Amount
1. Open - No Maturity	$	-	$	-	$	-
2. Overnight		-		-		-
3.	2 Days to 1 Week		-		-		-
4.	> 1 Week to 1 Month		-		7,000,313		263,063,000
5.	> 1 Month to 3 Months		-		-		-
6.	> 3 Months to 1 Year		-		-		-
7.	> 1 Year		-		-		-
b. Ending Balance
1. Open - No Maturity	$	-	$	-	$	-
2. Overnight		-		-		-
3.	2 Days to 1 Week		-		-		-
4.	> 1 Week to 1 Month		-		7,000,313		25,003,508
5.	> 1 Month to 3 Months		-		-		-
6.	> 3 Months to 1 Year		-		-		-
7.	> 1 Year		-		-		-

No securities sold and/or acquired resulted in default.
Fair Value of Securities Acquired Under Repo - Secured Borrowing

	FIRST			SECOND		THIRD
	QUARTER			QUARTER		QUARTER
a. Maximum Amount	$	-	$	7,000,313	$	263,063,000
b. Ending Balance	$	-	$	7,000,313	$	25,003,508

Securities Acquired Under Repo - Secured Borrowing by NAIC Designation
ENDING BALANCE

	1			2		3		4
	NONE			NAIC 1		NAIC 2		NAIC 3
a. Bonds - FV	$	-	$	25,003,508	$	-	$	-
b. LB & SS - FV		-		-		-		-
c. Preferred Stock - FV		-		-		-		-
d. Common Stock		-		-		-		-
e. Mortgage Loans - FV		-		-		-		-
f. Real Estate - FV		-		-		-		-
g. Derivatives - FV		-		-		-		-
h. Other Invested Assets - FV		-		-		-		-
Total Assets - FV	$	-	$	25,003,508	$	-	$	-
i. (Sum of a through h)
ENDING BALANCE
								8
	5			6		7		DOES NOT
					QUALIFY AS
	NAIC 4			NAIC 5		NAIC 6		ADMITTED
a. Bonds - FV	$	-	$	-	$	-	$	-
b. LB & SS - FV		-		-		-		-
c. Preferred Stock - FV		-		-		-		-
d. Common Stock		-		-		-		-
e. Mortgage Loans - FV		-		-		-		-
f. Real Estate - FV		-		-		-		-
g. Derivatives - FV		-		-		-		-
h. Other Invested Assets - FV		-		-		-		-
Total Assets - FV	$	-	$	-	$	-	$	-
i. (Sum of a through h)

7. 3

Attachments

Disclaimer

Voya Financial Inc. published this content on November 12, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 12, 2024 at 22:18:50.510.