On Friday, Voya Financial Inc (NYSE:VOYA)’s shares inclined 1.55% to $42.56.
Voya Financial, Inc. (VOYA) declared that it has reached a contract to sell via reinsurance an in-force block of about 155,000 term life insurance policies to Reinsurance Group of America, Incorporated (RGA). Voya Financial will continue to administer and service the policies, which represent about $90 billion of life insurance in force backed by about $1.4 billion of statutory reserves as of June 30, 2015.
Following the closing of the transaction, Voya Financial’s insurance auxiliaries will have more than 950,000 policies representing about $270 billion of life insurance in-force backed by statutory reserves of $18 billion as of June 30, 2015.
Based on financials as of June 30, 2015, Voya Financial anticipates the transaction will:
- Create excess capital of about $230 million;
- Reduce GAAP capital allocated to the company’s Individual Life business by about $270 million;
- Reduce operating earnings in Voya’s Individual Life segment by about $4-6 million on a quarterly basis; and
- Create an immediate non-operating pre-tax GAAP loss of $100 million to $110 million and a deferred non-operating pre-tax GAAP loss that the company anticipates to recognize at an average rate of about $12 million a year over the next 15 years.
Voya Financial, Inc. operates as a retirement, investment, and insurance company in the United States. The company has five segments: Retirement, Annuities, Investment Administration, Individual Life, and Employee Benefits. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services in corporate, education, healthcare, and government markets; and rollover individual retirement accounts and other retail financial products, in addition to financial advisory services to individual customers.
Royal Dutch Shell plc (ADR) (NYSE:RDS.A)’s shares dropped -0.59% to $50.27.
Royal Dutch Shell plc (RDS-A)(RDS-B)(the ‘Company’) declares the appointment of Ronan Cassidy as Chief Human Resources & Corporate Officer with effect from January 1, 2016.
Notes to editors
Ronan is a British Citizen and presently Executive Vice President Human Resources, Upstream International / Rest of the World Operations. He joined Shell in 1988 and has held a variety of human resources positions across the Upstream and Downstream businesses. Ronan graduated from Worcester College, Oxford University, United Kingdom in 1988 with a BA in Modern History. Ronan is married with two children.
Royal Dutch Shell plc operates as an independent oil and gas company worldwide. It operates through Upstream and Downstream segments. The company explores for and extracts crude oil, natural gas, and natural gas liquids. It also converts natural gas to liquids to provide fuels and other products; markets and trades natural gas; extracts bitumen from mined oil sands and converts it to synthetic crude oil; and generates electricity from wind energy. In addition, the company engages in manufacturing, supplying, and shipping crude oil; selling fuels, lubricants, bitumen, and liquefied petroleum gas (LPG) for home, transport, and industrial use; converting crude oil into a range of refined products, counting gasoline, diesel, heating oil, aviation fuel, marine fuel, lubricants, bitumen, sulphur, and LPG; producing and marketing petrochemicals, such as the raw materials for plastics, coatings, and detergents for industrial customers; and alternative energy business.
At the end of Friday’s trade, Liberty Global plc - Class C Ordinary Shares (NASDAQ:LBTYK)‘s shares dipped -1.30% to $43.93.
Liberty Global plc (LBTYA) will be presenting at the Goldman Sachs 24th Annual Communacopia Conference on Thursday, September 17, 2015 at 2:55 p.m. Eastern Time at the Conrad Hotel in New York. Liberty Global may make observations concerning its historical operating performance and outlook. The presentation will be webcast live at www.libertyglobal.com. We intend to archive the webcast under the investor relations section of our website for about 30 days.
Liberty Global plc, together with its auxiliaries, provides video, broadband Internet, fixed-line telephony, and mobile services in Europe, Chile, Puerto Rico, and internationally. The company offers various residential services, counting video services comprising basic and premium programming, which can be viewed on the television and Internet connected devices; electronic programming guide, high definition (HD) channels, digital video recorder (DVR), and HD DVR services; video-on-demand, set-top boxes, pay-per-view programming, and programming in three-dimensional format services, in addition to television applications that allow access to programming on laptops, smartphones, and tablets; and entertainment, sports, movies, documentaries, lifestyles, news, adult, children, and ethnic and foreign channels.
KB Home (NYSE:KBH), ended its Friday’s trading session with 0.82% gain, and closed at $14.72.
KB Home (KBH), one of the nation’s largest and most recognized homebuilders, recently declared that it will release earnings for the third quarter ended August 31, 2015 before the market opens on Thursday, September 24, 2015. A live webcast of the Company’s earnings conference call will be held the same day at 8:30 a.m. Pacific Daylight Time, 11:30 a.m. Eastern Daylight Time.
KB Home operates as a homebuilding company in the United States. It constructs and sells various homes, counting attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, move-up, and active adult homebuyers under the name KB Home.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
