M&A - VARIABLE LIFE ACCOUNT B OF VOYA RETIREMENT INSURANCE & ANNUITY CO
Form Type: N-VPFS
Filing Date: 2025-04-24
Corporate Action: Acquisition
Type: New
Accession Number: 000110465925038725
Filing Summary: On September 11, 2024, Voya Retirement Insurance and Annuity Company (VRIAC) announced a definitive agreement to acquire the full-service retirement plan business of OneAmerica Financial. This acquisition involves the purchase of legal entities and an indemnity reinsurance agreement, allowing VRIAC to administer group annuity contracts on behalf of American United Life Insurance Company, an affiliate of OneAmerica Financial. The transaction is set to close on January 2, 2025, marking a significant move in enhancing VRIAC's service offerings in the retirement sector. The reports indicate a solid financial performance for VRIAC, with an increase in net income to $586 million for the year ended December 31, 2024, along with total assets of $131.29 billion, showcasing its reinforced market position leading up to this acquisition.
Additional details:
Business Description: Voya Retirement Insurance and Annuity Company is a stock life insurance company providing financial products and services primarily in the U.S.
Revenue Sources: The Company generates revenue from investment income, fee income from separate account assets, premiums, net gains (losses) on investments, and other revenue.
Liabilities Total: Total liabilities as of December 31, 2024 are $129.75 billion.
Shareholders Equity: Total shareholders' equity as of December 31, 2024 amounts to $1.54 billion.
Net Income: The net income for VRIAC for the year ended December 31, 2024 is reported as $586 million.
Total Assets: Total assets reached $131.29 billion as of December 31, 2024.
Acquisition Details: Acquisition of OneAmerica Financial's retirement plan business to enhance service offerings.
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