# Principal Financial Group

> Principal Financial Group is a Des Moines-based financial services company that combines workplace retirement administration, global asset management, employee benefits, life insurance, annuities, and trust and custody services. Founded in 1879 as the Bankers Life Association, it now serves individuals, employers, financial professionals, banks, and institutions, with 83 million customers, $808 billion in assets under management, and $1.9 trillion in assets under administration as of June 30, 2026.

- **Founded:** 1879
- **Headquarters:** Des Moines, United States
- **Founders:** Edward Temple (Founder)
- **Team size:** More than 19,000 employees as of June 30, 2026.
- **Products:** Workplace Savings and Retirement Solutions, Retirement income and annuities, Principal Asset Management, Principal Fit ETFs, Group benefits
- **Notable:** Founded in Des Moines in 1879 and remained headquartered there while expanding globally., Completed a $1.85 billion initial public offering in 2001 after demutualization., Reached $808 billion in assets under management and $1.9 trillion in assets under administration as of June 30, 2026.

## Products & services

- **Workplace Savings and Retirement Solutions** — Employer-sponsored retirement plan recordkeeping, administration, participant tools, and consulting for plans including 401(k) and 403(b) programs.
- **Retirement income and annuities** — Income products and plan options intended to help savers convert accumulated assets into retirement income.
- **Principal Asset Management** — Public and private market investment strategies across equities, fixed income, real estate, alternatives, mutual funds, ETFs, and customized institutional mandates.
- **Principal Fit ETFs** — A fixed-income ETF suite targeting inflation protection, securitized debt, long duration, investment-grade corporate bonds, and collateralized loan obligations.
- **Group benefits** — Dental, vision, life, disability, paid family and medical leave in select states, accident, critical illness, and hospital indemnity coverage for employers.
- **Life insurance and income protection** — Individual and business-oriented life insurance and disability income protection products.
- **Business owner and executive solutions** — Business planning, protection, succession, and executive benefit solutions distributed through financial professionals.
- **Custody and trust services** — Institutional asset safekeeping, reporting, administration, and referral solutions for banks and other institutions.

## Achievements

- Founded in Des Moines in 1879 and remained headquartered there while expanding globally.
- Completed a $1.85 billion initial public offering in 2001 after demutualization.
- Reached $808 billion in assets under management and $1.9 trillion in assets under administration as of June 30, 2026.
- Served 83 million customers as of June 30, 2026.
- Named one of Ethisphere's 2026 World's Most Ethical Companies.
- Principal Asset Management was recognized by Pensions & Investments as a Best Place to Work in Money Management for the fourteenth consecutive year in 2025.
- Principal's workplace benefits business served more than 90,000 small and midsize U.S. employers as of December 31, 2025.
- Principal Custody Solutions safeguarded more than $1.2 trillion across over 11,500 accounts for more than 2,100 clients as of December 31, 2025.

## Latest updates

- **2026-07** — Reported second-quarter net income of $403 million, $808 billion in AUM, $1.9 trillion in AUA, and 83 million customers.
- **2026-07** — Agreed to acquire cloud-native employee benefits company Beam Benefits, which serves more than 25,000 small businesses; closing is expected in the latter half of 2026, subject to conditions and approvals.
- **2026-07** — Expanded the Principal Custody Solutions Bank Referral Program for regional and community banks.
- **2026-06** — Launched Principal Fit, a five-fund fixed-income ETF suite that includes four new ETFs.
- **2026-05** — Integrated with Employee Navigator to put evidence-of-insurability questions directly into benefits enrollment.
- **2026-03** — Announced an agreement to acquire Alabama dental network DentaNet and renewal rights for a block of group insurance contracts through Canopy Insurance.
- **2025-01** — Deanna Strable became president and chief executive officer; she also serves as chair.

## Links

- Website: https://www.principal.com/
- LinkedIn: https://www.linkedin.com/company/principalfinancialgroup
- Twitter/X: https://twitter.com/Principal
- YouTube: https://www.youtube.com/user/PrincipalFinancial
- Instagram: https://www.instagram.com/principalfinancial/
- Facebook: https://www.facebook.com/PrincipalFinancial/
- TikTok: https://www.tiktok.com/@principalfinancial

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Last updated: 2026-08-11