PRINCIPAL FINANCIAL GROUP INC
Principal Financial Group, Inc. is a leading global financial services company based in the United States. The company offers businesses, individuals, and institutional clients a wide range of financial products and services, including retirement, asset management, and workplace benefits and protection solutions. Principal's business strategy is to provide innovative and customized solutions to help its clients achieve their financial goals. The company's reportable segments include Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection. In 2022, Principal completed a coinsurance with funds withheld reinsurance transaction with Talcott Life & Annuity Re, which resulted in the ceding of Principal's U.S. retail fixed annuity and universal life insurance with secondary guarantee blocks of business. Principal's Retirement and Income Solutions segment offers a comprehensive portfolio of retirement savings and income products, including defined contribution plans, defined benefit plans, nonqualified plans, and pension risk transfer services. The company's individual variable annuities and registered index-linked annuities provide customers with the flexibility to allocate their deposits to mutual funds and index-linked investment options, with variable and guaranteed options. Principal Bank, a subsidiary of Principal Financial Group, offers individual retirement accounts, cash solutions, and trustee or custodian services. Principal's Principal Asset Management segment provides global investment solutions to institutional, retirement, retail, and high net worth investors in the U.S. and select emerging markets. The segment offers a range of investment capabilities, including equity, fixed income, real estate, and other alternative investments. Principal Financial Group's website is www.principal.com, and its stock is traded on the New York Stock Exchange under the ticker symbol "PFG." The company is a large accelerated filer with its principal executive offices located in Des Moines, Iowa.