About the Company
A global financial investment management and insurance company, Principal Financial Group was established in 1879. The company has its headquarters in Des Moines, Iowa, America. It provides a range of financial and insurance products as well as services. Principal Financial Group provides customers with services through a network of subsidiaries. It was first founded by Edward Temple and was originally known as Banker Life Association. The company originally relied on volunteers to provide low-cost protection to bankers and their families. This association transformed into a company by offering insurance to non-bankers in 1911. In 1941, the company began offering group insurance and added health insurance in the 1960s and accident insurance in the 1950s to its portfolio.
The four segments of Principal Financial Group Inc. include Principal Global Investors, US Insurance Solutions, Retirement and Income Solutions, and Principal International. By March 2014, the company had an employee estimate of 14,600, which soon became 17,600 by 2020. This company also has a lobbyist which was registered in the Iowa legislation in December 2016. It purchased the institutional retirement and trust business of Wells Fargo in 2019 for $1.2 billion. This acquisition included pension, employee stock ownership plans, executive deferred compensation and asset advice business. The company has been ranked as the second-largest pension company in Brazil. It also acquired the Hong Kong-based fund manager, Dao Heng Bank, in February 2004. This company had around 5 million international customers by July 2004. In December 2004, this company announced it would acquire the Dutch Bank ABN AMRO, which is a Chicago-based retirement and pension company. By early 2004, this company had also shown interest in acquiring a majority interest in the Connecticut-based asset management firm, Columbus Circle Investors.
This company has around 11 offices across 9 countries, and these include the United States, Chile, Indonesia, India, Hong Kong, Mexico, Malaysia, Thailand, and Singapore. It became a component of the S&P 500 index in July 2002. The company also ranked 201 in the Fortune 500 list of companies in the year 2020. Principal Financial Group shares are traded on the NASDAQ stock exchange under the ticker symbol “PFG.”;
|Organisation||Principal Financial Group Inc|
|HeadQuarters||Des Moines, IA|