Principal Sees Strong Interest in Its Life and Annuity Blocks
August 3, 2021 by Allison Bell
Principal Financial Group executives say efforts to wind down unwanted U.S. life and annuity operations are going well.
Dan Houston, the Des Moines, Iowa-based company’s CEO, briefed securities analysts on the company’s realignment Wednesday, during a conference call the company held to go over earnings for the second quarter, which ended June 30.
Principal announced June 28 that it intends to end the sale of U.S. individual fixed annuities and of retail U.S. individual life insurance.
The company is planning to stay in the market for the kinds of individual life policies sold through executive compensation plans.