Principal Financial Group 2015 Annual Report Download - page 23

212015 Annual Report
• Principal Chile:
+ Largest APV in terms of AUM according to the
Asociación de Adminstradoras de Fondos Mutuos
de Chile. APV is a voluntary pension product that
complements the mandatory pension system in
Chile. (December 2015)
+ Cuprum recognized as the leader in customer
experience within the mandatory pension market
according to the Praxis Xperience Index (PXI).
(October 2015)
• Southeast Asia:
+ CIMB-Principal Islamic Asset Management recog-
nized as Most Outstanding Islamic Financial
Institution at the 2015 KLIFF Islamic Finance
Awards. (December 2015)
+ CIMB-Principal Asset Management was named
the Best Asset Manager in Southeast Asia by
Alpha Southeast Asia in its “Best Financial
Institutions Awards” (Marquee Awards).
(June 2015)
• Principal Hong Kong received Gold Ratings for two
Mandatory Provident Funds (Scheme Series 600 and
800) at the 2015 MPF Awards. (March 2015)
U.S. Insurance Solutions
SEGMENT OVERVIEW
Protect employers, business owners, employees, and
individuals against risk and loss during working years
and beyond, while building and protecting wealth for
retirement.
PRODUCTS AND SERVICES
• Individual Life: Protection, accumulation and
deferred compensation solutions
+ Business planning services
+ Retail universal, variable universal, indexed
universal and term life insurance
+ Nonqualified deferred compensation
• Specialty Benefits: Employer-paid and voluntary
work-site solutions
+ Group life insurance
+ Group dental and vision
+ Individual discount dental
+ Group and multi-life disability income
+ Individual disability insurance
+ Critical illness
2015 FINANCIAL HIGHLIGHTS
• Full-year pre-tax operating earnings were $430
million.
• Record full-year earnings for Specialty Benefits, with
record sales and retention, as well as 9 percent
growth in premiums and fees.
• Individual Life normalized premiums and fees grew
4 percent over 2014, and business market sales were
60 percent of 2015 total sales.
RECOGNITION AND ACCOMPLISHMENTS
• Recognized by PLANSPONSOR magazine as the
No. 1 nonqualified deferred compensation provider
based on number of plans. (July 2015)
• Ranked as the No. 4 provider of group benefit
(dental, life and disability) insurance based on 2014
LIMRA data on fully insured employer contracts
in force.
• Ranked as the No. 5 provider of non-cancelable
individual disability income insurance based on
2015 LIMRA data of annualized new sale premium.
• Ranked as the No. 19 provider of life insurance based
on 2014 LIMRA data on total life new sales premium.
• Delivered a series of innovative products and
solutions in 2015, including an innovative, patent-
pending enrollment tool for group voluntary prod-
ucts and Principal Universal Life Provider Edge,
a versatile, low-cost product featuring cash value
accumulation and attractive target premium.
• Introduced a new communication and education
approach to nonqualified plan participants
and expanded online self-service capability on
principal.com for Individual Life customers.