Voya financial to acquire OneAmerica Financial’s retirement plan business

2024-09-11 20:40

Voya Financial (NYSE:VOYA) has announced that the companies have entered into a definitive agreement for Voya to acquire OneAmerica Financial’s full-service retirement plan business.
The acquisition adds strategically attractive scale to Voya’s full-service retirement business within Wealth Solutions, providing Voya with a broader set of capabilities that complement its existing product suite.
The transaction adds ~$47B of assets to Voya’s strategically important full-service Emerging and Mid-Market segments and extends the firm’s leadership position in the Large Market by adding ~$15B of record keeping assets.
As a result of the acquisition, Voya’s Wealth Solutions Defined Contribution client assets will grow to $580B, with total retirement plan and participant count reaching 60,000 and 7.9M, respectively.
“This acquisition fully aligns with Voya’s relentless focus on customer satisfaction, leveraging the strength and expertise of two dedicated organizations who deliver a variety of workplace benefits and savings solutions,” said Rob Grubka, CEO, Workplace Solutions, Voya Financial.

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