Voya Financial Inc
For the period ended Mar 31, 2024. Filed May 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 6, 2024
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8. Separate Accounts
- Separate Accounts
The following tables present a rollforward of separate account liabilities for the Wealth Solutions stabilizer and deferred annuity business, including a reconciliation to the Condensed Consolidated Balance Sheets, for the periods indicated:
| March 31, 2024 · December 31, 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Wealth Solutions Stabilizer · Wealth Solutions Deferred Annuity · Total · Wealth Solutions Stabilizer · Wealth Solutions Deferred Annuity · Total | ||||||||
| Balance at January 1 | $7,175 | $82,310 | $89,485 | $7,196 | $69,152 | $76,348 | ||
| Premiums and deposits | 281 | 2,586 | 2,867 | 940 | 10,052 | 10,992 | ||
| Fee income | (8) | (116) | (124) | (34) | (426) | (460) | ||
| Surrenders, withdrawals and benefits | (379) | (2,969) | (3,348) | (1,342) | (9,631) | (10,973) | ||
| Net transfers (from) to the separate account | — | (392) | (392) | — | (518) | (518) | ||
| Investment performance | — | 6,241 | 6,241 | 415 | 13,681 | 14,096 | ||
| Balance at end of period | $7,069 | $87,660 | $94,729 | $7,175 | $82,310 | $89,485 | ||
| Reconciliation to Condensed Consolidated Balance Sheets: | ||||||||
| Other | 3,907 | 3,648 | ||||||
| Total Separate Account liabilities | $98,636 | $93,133 | ||||||
Stabilizer products allow the contract holder to select either the market value of the account or the book value of the account at termination. The book value of the account is equal to deposits plus interest, less any withdrawals. The fair value is estimated using the income approach.
Cash surrender value represents the amount of the contract holders' account balances distributable at the balance sheet date, less certain surrender charges. The cash surrender value for Wealth Solutions deferred annuity products was $87,637 and $82,286, as of March 31, 2024 and December 31, 2023, respectively.
The aggregate fair value of assets, by major investment asset category, supporting separate accounts was as follows for the periods indicated:
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| U.S. Treasury securities and obligations of U.S. government corporations and agencies | $902 | $1,015 |
| Corporate and foreign debt securities | 2,688 | 2,528 |
| Mortgage-backed securities | 3,191 | 3,231 |
| Equity securities (including mutual funds) | 91,493 | 85,916 |
| Cash, cash equivalents and short-term investments | 289 | 399 |
| Receivable for securities and accruals | 73 | 44 |
| Total | $98,636 | $93,133 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.