TCIM Issues Statement on Voya Financial

Key Terms

earnings multiple financial

An earnings multiple is the ratio that compares how much investors are paying for a company's stock to the profit the company generates, typically expressed as a price per dollar of earnings. Think of it like the price tag on a business relative to the cash it produces each year — a higher multiple means investors are paying more for each dollar of profit, which helps people judge whether a stock looks expensive or cheap compared with peers or the market.

stop-loss business technical

A stop-loss business sells insurance that protects employers or health-plan sponsors from very large or unexpected claims by paying costs above a set threshold, acting like a safety net for excess losses. Investors care because this line mixes steady premium income with the risk of rare, high-cost payouts; its profitability depends on pricing discipline, claims volatility, and the company’s capital and reinsurance strategy — much like a lender balancing regular interest against the chance of a big default.

NEW YORK--(BUSINESS WIRE)-- TOMS Capital Investment Management (“TCIM”), one of the largest shareholders of Voya Financial, Inc. (NYSE: VOYA), today issued the following statement:

“Despite the underlying strength of the franchise, Voya has deeply impaired its earnings multiple due to the lack of urgency and indecisiveness of management and the Board of Directors, particularly around the stop-loss business. This has eroded credibility with both Voya’s investor base and the research community. As demonstrated by recent transactions, including the sales of Janus Henderson and Schroders at significantly higher multiples, there is real scarcity value and strategic interest for assets like Voya that have scale and drive inflows. We encourage any interested parties to contact the Board of Directors directly.”

View source version on businesswire.com: https://www.businesswire.com/news/home/20260504262571/en/

Longacre Square
tcim@Longacresquare.com

Source: TOMS Capital Investment Management