Principal Financial Group Inc - Company Profile
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Business Description
Principal Financial Group Inc (PFG) offers a range of financial solutions including insurance, retirement, and asset management products and services to individuals, businesses and institutional clients. As of December 31, 2023, the group had total assets of US$305,046.7 million, US$1,578.7 billion in assets under administration (AUA), including US$694.5 billion in assets under management (AUM).
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Business Segments
Overview
Offers solutions mainly for small-to-mid-sized businesses and its workers. It's divided into Specialty Benefits, which covers group dental, life, and disability insurance, plus supplemental health products. It’s Life Insurance, focus on business customers with various life insurance options. Customers not falling into these categories are part of the legacy life block, including different life insurance types.
Performance
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Overview
Segment oversees unassigned capital. Its financial outcomes come mainly from financing, like loan expenses and profits on unassigned capital. It handles tax risks and adjusts income and expenses that has not been allocated to any other segment.
Performance
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Overview
Offers investment solutions worldwide to various types of investors in the U.S. and some developing nations. It has two main parts: Principal Global Investors and Principal International. Global Investors offers diverse investment options like stocks, bonds, real estate, etc., serving to different client goals. Principal International focuses on long-term savings and retirement plans, including pensions, mutual funds, and asset management in Asia and Latin America.
Performance
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Overview
Offers retirement savings and related investment solutions to businesses and individuals in the US. Provides defined contribution plans including 401(k) and 403(b), non-qualified executive benefit, defined benefit plans, pension risk transfer services and employee stock ownership plan services. Also, offers investment only guaranteed investment contracts to large institutional clients and individual variable annuities, individual fixed annuities, mutual funds, and bank products to employees. Markets and sells products through intermediaries, independent advisors, consultants and agents.
Performance
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