According to Edward Dowd, Voya Financial has reported a continuation of rising cancer trends, particularly among younger populations, impacting its medical stop loss business. Despite raising pricing last year, the company took a $37 million reserve in Q4 2025 to address the underestimated trend. CFO Mike Katz highlighted increased claim frequency related to cancer diagnoses, indicating a significant financial strain and potential premium hikes for policyholders. This development underscores the growing healthcare challenges and their financial implications.