Principal Financial Group

Principal Financial Group is a global financial investment management and insurance company headquartered in Des Moines, Iowa. Founded in 1879, the company offers a wide range of financial products and services, including retirement planning, insurance, and asset management. With approximately 19,700 employees worldwide, Principal Financial Group serves over 19 million customers across more than 18 countries. The company's operations are organized into four segments: Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions. Principal Global Investors, a subsidiary of Principal Financial Group, manages assets across various classes, including equities, fixed income, real estate, and alternative investments. The company has a strong presence in the United States, Europe, Asia, and Latin America, providing services to both individual and institutional clients. In 2024, Principal Financial Group reported an increase in third-quarter adjusted profit, driven by robust investment returns and higher premiums. Net investment income rose to $1.17 billion from $989.2 million the previous year. Premiums and fees from the specialty benefits business, which offers employee benefit plans, increased by 6% to $818.8 million. Consequently, adjusted operating earnings rose to $479.8 million, or $2.05 per share, from $446.4 million, or $1.83 per share, a year ago. The insurer benefited from a strong labor market, increased consumer spending confidence, and a market rally that improved investment returns, driven by optimism about avoiding a recession and potential future rate cuts. In 2025, Deanna Strable-Soethout succeeded Dan Houston as the firm's President and CEO. Previously, Strable-Soethout had served as President and Chief Operating Officer. As part of the transition, Houston was named Executive Chair of the Board of Directors. Under her leadership, Principal Financial Group continues to focus on providing comprehensive financial solutions to its diverse clientele, leveraging its global presence and expertise in various financial sectors.