Voya Financial's assets under management totaled $294 billion as of March 31, up 2.4% from Dec. 31 and up 7.3% from a year earlier, the money manager said in its earnings report released Wednesday.
Assets under administration for the company were $211 billion as of March 31, up 7.1% from Dec. 31 and up 14.7% from March 31, 2016.
Voya's retirement segment had net inflows of $610 million in the quarter, vs. net inflows of $803 million for the previous quarter and net inflows of $1.1 billion in the first quarter of 2016.
Voya Financial posted a net loss of $144 million in the first quarter, vs. a net loss of $533 million for the fourth quarter and net income of $191.6 million for the first quarter of 2016. The company attributed the quarterly net loss to changes in the fair value of guaranteed benefit derivatives related to non-performance risk, which the company considers a non-economic factor, and a loss associated with an enhanced surrender value offer to repurchase certain variable annuity contracts.
Total operating revenue, meanwhile, was $2.19 billion, down 12.7% from the previous quarter and down 10% from the same period a year earlier.