Voya Financial, Inc. (NYSE:VOYA) Q2 2024 Earnings Conference Call July 31, 2024 10:00 AM ET
Company Participants
Mike Katz - EVP, Finance
Heather Lavallee - CEO
Don Templin - CFO
Matt Toms - Head, Investment Management
Rob Grubka - Head, Workplace Solutions
Conference Call Participants
John Barnidge - Piper Sandler
Elyse Greenspan - Wells Fargo
Tom Gallagher - Evercore ISI
Jimmy Bhullar - JPMorgan
Ryan Krueger - KBW
Wilma Burdis - Raymond James
Wes Carmichael - Autonomous Research
Suneet Kamath - Jefferies
Joel Hurwitz - Dowling & Partners
Mike Ward - Citi
Operator
Good morning. Welcome to Voya Financial's Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the call over to Mike Katz, Executive Vice President of Finance. Please go ahead.
Mike Katz
Thank you, and good morning. Welcome to Voya Financial's second quarter 2024 earnings conference call. We appreciate all of you who have joined us this morning. As a reminder, materials for today's call are available on our website at investors.voya.com.
Turning to Slide 2. Some of the comments made during the call may contain forward-looking statements or refer to certain non-GAAP financial measures within the meaning of federal securities law. GAAP reconciliations are available in our press release and financial supplement found on our website.
Now joining me on the call are Heather Lavallee, our Chief Executive Officer; and Don Templin, our Chief Financial Officer. After their prepared remarks, we will take your questions. For the Q&A session, we have also invited the heads of our businesses, specifically, Matt Toms, Investment Management; and Rob Grubka, Workplace Solutions.
With that, let's turn to Slide 3, as I would like to turn the call over to Heather.
Heather Lavallee
Good morning, and thank you for joining us today.
Our second quarter results reflect our success in strategic execution and sound capital management. We achieved our financial targets in the second quarter and remain on track to achieve our targeted full year results for 2024.
We are executing our strategy, driving robust growth and commercial momentum in both Workplace Solutions and in Investment Management. And we continue to demonstrate strong excess capital generation and high free cash flow conversion in line with our targets for 2024.
Turning to Slide 5. Our second quarter adjusted operating EPS was $2.18. We generated strong fee-based revenues in Wealth and Investment Management, offsetting higher than target aggregate loss ratios in Health.