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Voya Financial VOYA Health Solutions — DAC

Other segment segments

Retirement Deferred Group and Individual Annuity
$708M+0.9%

Similar metrics at other companies

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KKRInsurance — Deferred Acquisition Costs, or "DAC"
$2.58B+25.3%
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KKROther — Deferred Acquisition Costs, or "DAC"
$850.33M+64.1%
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KKRFixed Indexed Annuities — Deferred Acquisition Costs, or "DAC"
$1.13B+24.6%
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KKRFixed Rate Annuities — Deferred Acquisition Costs, or "DAC"
$464.49M-6.9%
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KKRInterest Sensitive Life — Deferred Acquisition Costs, or "DAC"
$129.07M-1.5%
Globe Life logo
GLHealth — Deferred acquisition costs
$865.28M+7.1%

Other financials

Income statement

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Revenue$1.9B-4.3%
Net income$94.0M-43.4%
EPS (diluted)$0.97-41.6%

Balance sheet

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Cash & equivalents$1.1B-17.9%
Total debt$2.1B0.0%
Total equity$4.7B+1.2%
Total assets$182.95B+6.1%

Cash flow

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Operating cash flow$503.0M-32.2%

Valuation

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Market cap$9.08B+28.8%
Enterprise value$10.09B+28.9%
P/E14.9×+1.7×
P/S1.1×+0.2×

Profitability

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Net margin7.4%+0.7pp
FCF margin26.1%

Returns & leverage

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Return on equity13.1%+0.8pp
Debt / equity0.4×0.0×

Where this comes from

Reported directly by Voya Financial in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCosts.

The source filing: Voya Financial’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:17 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001535929-26-000157
Line itemDAC / Retirement Deferred and Individual AnnuitiesDAC / Employee Benefits VoluntaryVOBA(1)
Balance as of January 1, 2025$701$215$$376
Additions related to business acquisitions390
Deferrals of commissions and expenses59464
Amortization expense(54)(40)(60)
Balance as of December 31, 2025$706$221$$710
Deferrals of commissions and expenses29232
Amortization expense(27)(26)(29)
Balance as of June 30, 2026$708$218$$683

Item 1. Financial Statements

FAQ

What is Voya Financial's health solutions — DAC?
Voya Financial (VOYA) reported health solutions — DAC of $218M in Q2 2026.
How has Voya Financial's health solutions — DAC changed year-over-year?
Voya Financial's health solutions — DAC decreased by 2.2% year-over-year, from $223M to $218M.
What does health solutions — DAC mean?
This represents the capitalized costs associated with acquiring new insurance contracts within the Health Solutions segment. These costs are deferred and amortized over the expected life of the policies to match expenses with related revenues. It reflects the long-term investment in customer acquisition.

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