Venerable Insurance and Annuity Company Fully Separates from Voya
Venerable Annuity has fully separated from Voya Financial. If you own a Voya Annuity or ING Annuity you will no longer access your annuity using the Voya Annuity Login, nor will you call Voya Customer Service for any service or forms needs.
Moving forward, you will access and manage your Voya Annuity contract using the Venerable Annuity Login at www.my.venerableannuity.com. You can jump directly to customer service and annuity login information for venerable financial here.
Voya was a fairly new name in the U.S. Annuity market so many do not realize just how big VOYA Annuity was. The below timeline helps put into perspective just how large Voya Annuity had become.
Venerable Acquires Voya Financial
In a June 1, 2018 press release, Venerable Holdings, (“Venerable”) announced the completion of its acquisition of Voya Financial, Inc.’s closed Block Variable Annuity (CBVA) business. As announced in December 2017, Voya has divested its CBVA business to Venerable, a private company established to serve as a leading industry solution for the consolidation of closed variable annuity blocks.
Venerable Annuity was created by a group of investors led by affiliates of Apollo Global Management, LLC, Crestview Partners, and Reverence Capital Partners. Athene Holding, Ltd. and Voya also each have a minority position in Venerable.
“This transaction demonstrates our strong belief in the attractiveness of the annuity business and the substantial growth opportunity it represents,” stated David Marcinek, Chairman, and Senior Managing Director, Venerable Holdings, Inc. “As a focused, standalone business, Venerable is well-positioned to deliver best in class service to our policyholders, solutions to the annuity industry and strong financial value to our investors.”
Athene will reinsure approximately $19 billion of Voya’s fixed and fixed indexed annuities from Venerable and Voya. Venerable financial will administer these existing annuity contracts.
Athene Asset Management will provide asset management services for these fixed annuities. Voya Investment Management will serve as the preferred asset management partner for Venerable Annuities (variable).
Voya Insurance and Annuity Company
On September 1st, 2019 VOYA Insurance and Annuity Company, the Legal Entity purchased by Venerable, legally changed its name to Venerable Insurance and Annuity Company.
Venerable Annuity has no intention of issuing and selling its own variable annuities. Rather than selling its own variable annuities, Venerable will seek growth by acquiring existing annuity portfolios of variable annuity policies that insurance companies want to sell.
The company is equally dividing its headquarters between Des Moines and West Chester, Pa., a western suburb of Philadelphia where Voya had based a portion of its variable annuity business.
The potential market for acquiring and managing blocks of variable annuities is substantial, said Patrick Lusk, president, and CEO of Venerable Insurance and Annuity Company. “These blocks generally line up well for private equity investors interested in managing the assets of what are essentially run-off blocks of business,” the report said.
“These run-off blocks also can become platforms for private equity firms to buy additional blocks to add to the run-off model and manage additional assets.” A.M. Best said it expects to see continued interest from private equity funds in the life and annuity segment.
Voya Annuity Login
If you previously owned an ING, Reliastar, or Voya Annuity you can now access your annuity account information via the Venerable Secure Login. Below you’ll find the login address as well as customer service contact information.
Venerable Annuity Login
On January 13, 2020, Venerable Announced the completion of its separation efforts from Voya Financial, Inc.
Now that Venerable Annuity is fully separated from Voya Financial they are servicing all of VOYA Financial Annuities. What this means to you if you own a Voya annuity is that you’ll now access your annuity policy information via the Venerable Annuity Login.
Voya and Venerable Annuity Contact Information
Fixed Annuities: firstname.lastname@example.org
Variable Annuities & Mutual Funds: email@example.com
Producer Services – Licensing & Commissions: firstname.lastname@example.org
Venerable Annuity Customer Service Department:
Monday through Friday, 8:30 a.m. to 5:00 p.m. ET
- Variable Annuity: (800) 366-0066
- Fixed Annuity: (800) 369-5303
- Mutual Fund Custodial Accounts: (888) 854-5950
- Pension Risk Transfer: (877) 229-9564
- Variable Life: (800) 447-3644
- Licensing & Commissions: (800) 369-5305
Financial & Claims Request:
- Variable Annuity, Pension Risk Transfer, and Mutual Fund Custodial IRA (515) 446-2148
- Fixed Annuity (515) 446-2498
Overnight Mailing Address
Venerable Service Center
699 Walnut Street Suite 1350
Des Moines IA 50309-3942
Venerable Annuity Ratings
KBRA assigns an insurance financial strength rating of A- to Venerable Holdings, Inc.’s (VHI) primary subsidiary, Venerable Insurance, and Annuity Company (VIAC), and a debt rating of BBB to four series of VIAC’s surplus notes.
At the same time, KBRA assigns an issuer rating of BBB- to VHI and a debt rating of BBB- to VHI’s $150 million subordinated term loan with an optional PIK (payment-in-kind) feature.
These ratings reflect a highly experienced management team and, at the operating company, the continuity inherent in Voya Financials’ (Voya) closed block variable annuity (CBVA) leadership team moving to Venerable and continuing to perform the same functions as they did at Voya.
KBRA is a global full-service rating agency and registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization. Also, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider. KBRA’s rating scale can be found here.
Here is a link to Venerables’ 2020, Q2 Statutory Filing.
Need A Venerable Licensed Agent to Help You Navigate?
If you own a Venerable Annuity and your advisor is not available, no longer in the business, or just lost touch we are happy to assist you in the servicing of your annuity. We have had a lot of calls the past 6 months with questions about annuity policies from policyholders that no longer have an agent. If you sign this agent of record change form it permits us to interact with Venerable on your behalf and make any adjustments or provide advice when needed.
As one of our clients, you would have your own client portal with where you can access all of your information as well as any servicing forms right here on our website. If you would like to have assistance in navigating your annuity please reach out to us via phone, email, or chat and we will be happy to accommodate.
If you’d like to discuss adding us as an agent of the record you can call, email, or message us for the necessary form to learn more. This would allow us to request beneficiary forms, RMD’s, tax-forms, investment elections, etc. on your behalf.
A final note: if you are not 100% sure of the fees, features, riders, and investment allocation options in your existing annuity you may be a candidate for our complimentary Annuity Review Service.