Menu

Reinsurance News

AIG, Prudential & Principal reportedly discussed Voya takeover

9th January 2020 - Author: Luke Gallin

The Financial Times has reported that re/insurance giant AIG, life insurer Prudential Financial and asset manager Principal Financial Group were among the companies interested in acquiring U.S. retirement plan provider, Voya Financial.

handshakeAccording to people briefed on the matter, says the Financial Times, Voya held discussions with AIG, Prudential, Principal Financial and other firms late last year that are interested in acquiring the company.

The same people explained that none of the talks resulted in a deal and that Voya’s Board of Directors remains open to a sale and could look at this again in the coming months.

The Financial Times adds that one of the people briefed on the matter said that an acquisition could value Voya at USD 10 billion or higher, which is above its current USD 8 billion market capitalisation.

AIG, Prudential and Principal declined to comment on the matter, while Voya told the Financial Times that it does not comment on rumour or speculation.

RMS

In December of last year, Resolution Life Group Holdings Ltd entered into an agreement to acquire the in-force individual life business of Voya for a total consideration of USD 1.25 billion.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Suncorp states that bushfire losses could hit its reinsurance as claims soar

Suncorp Group has announced that it has received more than 2,600 bushfire-related claims since September 2019 with a total estimated...

Close