Major Rating Factors: Fair current capitalization (4.0 on a scale of 0 to 10) based on good risk adjusted capital (severe loss scenario) reflecting some improvement over results in 2021. Fair quality investment portfolio (4.7) with significant exposure to mortgages . Mortgage default rate has been low. Good Liquidity (5.7).
Other Rating Factors: Weak overall results on stability tests (2.4) including fair financial strength of affiliated Voya Financial Inc, weak results on operational trends and negative cash flow from operations for 2022. Weak profitability (2.7).
Stability Factors: A - Financial problems or weaknesses of a parent or affiliate company. C - Past results on our Risk-Adjusted Capital tests. F - Negative cash flow. I - Past results on our Investment Safety Index. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Group life (26.7%), group annuities (10.4%), ind annuities (10.3%), other (52.6%)
Licensed in: All states except NY, PR