Voya Financial Reports $2.031 Billion Revenue in Q1 2026, Up 3.1%

Voya Financial, Inc. reported a total revenue of $2.031 billion for the first quarter of 2026, marking a 3.1% increase from $1.969 billion in the same period of the previous year. The growth was driven by a $9 million rise in net investment income, which reached $569 million, and a $34 million increase in fee income, totaling $604 million. Premiums also saw a modest increase of $7 million, reaching $744 million. However, net losses worsened from $34 million to $45 million, primarily due to unfavorable mark-to-market adjustments on securities.

In terms of expenses, Voya's total benefits and expenses rose slightly to $1.801 billion from $1.796 billion year-over-year. The decrease in interest credited to contract owner account balances contributed to a $16 million reduction in this category, while operating expenses increased by $24 million, reflecting business growth and investments in the Retirement segment. The company reported net income of $195 million, up from $151 million in the prior year, resulting in net income available to common shareholders of $165 million, or $1.78 per share, compared to $139 million, or $1.45 per share, in the previous year.

Strategically, Voya completed the acquisition of OneAmerica Financial's full-service retirement plan business in January 2025, which has enhanced its capabilities in the retirement sector. The acquisition included $50 million in cash and contingent consideration based on plan persistency, with $129 million paid in the first quarter of 2026. This acquisition is expected to contribute to Voya's growth in the retirement market, particularly in emerging and mid-market segments.

Operationally, Voya's assets under management (AUM) and assets under advisement (AUA) reached $1.077 trillion as of March 31, 2026, an increase from $977 billion a year earlier. The Retirement segment's AUM grew to $779.7 billion, while the Investment Management segment's AUM rose to $412.4 billion. The Employee Benefits segment reported total sales of $472 million, up from $438 million in the previous year, driven by strong performance in group products and voluntary benefits.

Looking ahead, Voya Financial anticipates continued growth in its core segments, supported by strategic acquisitions and a focus on enhancing customer engagement and product offerings. The company remains committed to disciplined capital management and aims to increase excess capital generation and adjusted operating earnings growth through net revenue growth and margin expansion.