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Voya Retirement Insurance & Annuity earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026
Q2 2026 Revenue up 1% year over year to $721M · 17¢ of every $1 of revenue kept as net profit · operating margin 19.1%
Voya Retirement Insurance & Annuity made $721M in Q2 2026 (+0.7% Y/Y). Operating margin 19.1%, net earnings $123M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
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What changed this quarter
Revenue was $721.0M in Q2 2026, up 1% year over year and down 3% from the previous quarter.
Operating profit was $138.0M, a 19.1% margin (down 2.9 points year over year). Operating profit fell $20.0M even though revenue rose $5.0M versus Q2 2025, so costs grew faster than sales. Total costs grew 4% against revenue growth of 1%. Net earnings were $123.0M, down 11% year over year. The effective tax rate was 10.9%.
Operating cash flow was $384.0M (down 10% year over year), 312% of net earnings. Working capital and other items added $261.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $721M | +0.7% | 19.1% | $123M | $384M |
| Q1 2026 | 10-Q | May 12, 2026 | $744M | +2% | 21.2% | $139M | $334M |
| Q4 2025 | 10-K | Mar 6, 2026 | $787M | +18% | 23.8% | $156M | $508M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $768M | +18% | 22.5% | $150M | $348M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $716M | +9% | 22.1% | $138M | $427M |
| Q1 2025 | 10-Q | May 13, 2025 | $729M | +8% | 23.7% | $150M | $332M |
| Q4 2024 | 10-K | Mar 11, 2025 | $668M | +4% | 26.6% | $167M | $383M |
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About Voya Retirement Insurance & Annuity
For the purposes of this discussion, the terms "VRIAC," "the Company," "we," "our," and "us" refer to Voya Retirement Insurance and Annuity Company and its subsidiaries. Voya Retirement Insurance and Annuity Company ("VRIAC") is a stock life insurance company domiciled in the State of Connecticut. VRIAC and its wholly owned subsidiaries (collectively, "the Company") provide financial products and services in the United States. VRIAC is authorized to conduct its insurance business in all states and in the District of Columbia, Guam, Puerto Rico and the Virgin Islands.
In its own words, from its 10-K, filed Mar 6, 2026.
Voya Retirement Insurance & Annuity against its Life Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.7% against the peers' median +8%. Operating margin: 19.1% against the peers' median 11.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Voya Retirement Insurance & Annuity | Q2 2026 | $721M | +0.7% | 19.1% |
| MET Metlife | Q3 2026 | $20.5B | +18% | 8.9% |
| PRU Prudential Financial | Q3 2026 | $14.4B | -19% | 11.4% |
| Metropolitan Life Insurance | Q2 2026 | $9.6B | +2% | 6.0% |
| RGA Reinsurance Group of America | Q3 2026 | $7.5B | +22% | 8.3% |
| CRBG Corebridge Financial | Q3 2026 | $6.2B | +14% | 37.7% |
| LNC Lincoln National | Q3 2026 | $5.5B | +20% | 31.7% |
| Lincoln National Life Insurance | Q2 2026 | $4.3B | +8% | 25.2% |
| ATH-PA Athene Holding | Q3 2026 | $3.1B | -62% | -56.7% |
Source: Voya Retirement Insurance & Annuity 10-Q on SEC EDGAR · CIK 837010 · Life Insurance