Voya Eying New Risk Reduction Opportunities

June 2, 2017 by Cyril Tuohy

Executives with Voya Financial say they will explore new opportunities to reduce the company’s risk exposures to living benefits on a block of variable annuities.

About 13,000 policyholders, about 25 percent of all policyholders who received offers, agreed to surrender variable annuity contracts, the company said.

The surrender reduced the living benefit net amount of risk to the company by about $300 million, Voya said.

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Originally Posted at InsuranceNewsNet on June 2, 2017 by Cyril Tuohy.