Voya Financial, Inc.

For the period ended Dec 31, 2025. Filed Feb 20, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 20, 2026

VOYA$104.27-0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Balance Sheets as of December 31, 202 and

	As of December 31,
	2025	2024
Assets:
Investments:
Fixed maturities, available-for-sale, at fair value (amortized cost of $28,724 and $26,536 as of 2025 and 2024, respectively; net of allowance for credit losses of $26 and $38 as of 2025 and 2024, respectively)	$27,150	$24,089
Fixed maturities, at fair value using the fair value option	1,740	1,849
Equity securities, at fair value	201	246
Short-term investments	145	94
Mortgage loans on real estate (net of allowance for credit losses of $31 and $24 as of 2025 and 2024, respectively)	5,577	4,675
Policy loans	323	342
Limited partnerships/corporations	1,891	1,836
Derivatives	197	303
Other investments	86	67
Securities pledged (amortized cost of $1,388 and $1,665 as of 2025 and 2024, respectively)	1,261	1,523
Total investments	38,571	35,024
Cash and cash equivalents	1,228	1,399
Short-term investments under securities loan agreements, including collateral delivered	984	1,042
Accrued investment income	414	396
Premium receivable and reinsurance recoverable (net of allowance for credit losses of $16 as of 2025 and 2024)	10,713	11,284
Deferred policy acquisition costs ("DAC") and Value of business acquired ("VOBA")	2,401	2,148
Deferred income taxes	1,871	2,134
Goodwill	804	748
Other intangibles, net	874	832
Other assets (net of allowance for credit losses of $0 and $1 as of 2025 and 2024, respectively)	3,167	2,312
Assets related to consolidated investment entities ("CIEs"):
Limited partnerships/corporations, at fair value	3,142	3,067
Cash and cash equivalents	120	115
Corporate loans, at fair value using the fair value option	1,350	1,434
Other assets	213	278
Assets held in separate accounts	113,007	101,676
Total assets	$178,859	$163,889

	As of December 31,
	2025	2024
Liabilities:
Future policy benefits	$8,982	$9,332
Contract owner account balances	40,374	37,104
Payables under securities loan and repurchase agreements, including collateral held	1,273	1,309
Short-term debt	586	399
Long-term debt	1,518	2,103
Derivatives	282	332
Other liabilities	3,210	2,886
Liabilities related to CIEs:
Collateralized loan obligations notes, at fair value using the fair value option	1,134	1,101
Other liabilities	1,454	1,640
Liabilities related to separate accounts	113,007	101,676
Total liabilities	$171,820	$157,882
Commitments and Contingencies (Note 20)
Mezzanine equity:
Redeemable noncontrolling interest	$222	$219
Shareholders' equity:
Preferred stock (0.01 par value per share; $625 aggregate liquidation preference as of 2025 and 2024)	—	—
Common stock ($0.01 par value per share; 900,000,000 shares authorized; 107,424,252 and 105,592,281 shares issued as of 2025 and 2024, respectively; 93,842,616 and 95,497,265 shares outstanding as of 2025 and 2024, respectively)	1	1
Treasury stock (at cost; 13,581,636 and 10,095,016 shares as of 2025 and 2024, respectively)	(1,010)	(754)
Additional paid-in capital	6,358	6,266
Accumulated other comprehensive income (loss)	(1,788)	(2,462)
Retained earnings:
Unappropriated	1,392	954
Total Voya Financial, Inc. shareholders' equity	4,953	4,005
Noncontrolling interest	1,864	1,783
Total shareholders' equity	6,817	5,788
Total liabilities, mezzanine equity and shareholders' equity	$178,859	$163,889

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.