Voya Financial, Inc. (NYSE:VOYA) Q3 2024 Earnings Conference Call November 5, 2024 10:00 AM ET

Company Participants

Mei Ni C - Head of IR
Heather Lavallee - CEO
Don Templin - CFO
Matt Toms - Head, Investment Management
Rob Grubka - Head, Workplace Solutions
Michael Katz - EVP, Finance

Conference Call Participants

Ryan Krueger - KBW
Wes Carmichael - Autonomous Research
Justin Moreno - Barclays
Joel Hurwitz - Dowling & Partners
Tom Gallagher - Evercore ISI
Wilma Burdis - Raymond James
Suneet Kamath - Jefferies
Josh Shanker - Bank of America
John Barnidge - Piper Sandler

Operator

Good morning. Welcome to Voya Financial's Third Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Mei Ni C., Head of Investor Relations. Please go ahead.

Mei Ni C

Thank you, and good morning. We appreciate you joining us this morning for Voya Financial's Third Quarter 2024 Earnings Conference Call. As a reminder, materials for today's call are available on our website at investors.voya.com.

Joining me on our call this morning are Heather Lavallee, our Chief Executive Officer; and Don Templin, our Chief Financial Officer. Following their remarks, we will take your questions. For the Q&A session, we will also be joined by our incoming CFO, Mike Katz, and the heads of our businesses, specifically Rob Grubka, CEO of Workplace Solutions; and Matt Thomas, CEO of Investment Management.

Turning to our earnings presentation materials that are available on our website. On Slide 2, some of the comments during today's discussion may contain forward-looking statements and 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 in our Investor Relations website.

And now I will turn the call over to Heather.

Heather Lavallee

Thank you, Mei Ni. Good morning, and thank you for joining us today. Turning to Slide 4 for our key themes for the quarter. First, we delivered strong business results in Wealth Solutions and Investment Management this quarter, this is the outcome of actions we've implemented throughout the year to drive stronger than expected revenue and margin improvement.

Second, adverse Stop Loss results led to a disappointing result in Health Solutions. We are actively repricing the Stop Loss business to materially improve margins next year. Third, we are on track to close our acquisition of OneAmerica's full service retirement business on January 1. This is an outstanding transaction for Voya, both in terms of strategic fit and financial attractiveness.