Credit: Thinkstock
Voya Financial is unhappy with the performance of its stop-loss insurance business, and the company is prepared to lose customers to get prices up to profitable levels, executives said Tuesday.
The average rate increases for coverage renewing in January 2025 will be twice as big as the average rate increases for January 2024 renewals were, Don Templin, Voya's chief financial officer, said during a conference call with securities analysts.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
