Latest news with #Principal
Business Wire
a day ago
- Business
- Business Wire
Principal to Announce Second Quarter 2025 Financial Results
DES MOINES, Iowa--(BUSINESS WIRE)--Principal Financial Group ® (Nasdaq: PFG) announced today that it will release second quarter 2025 financial results after U.S. markets close on Monday, July 28, 2025. On Tuesday, July 29, 2025, at 10 a.m. ET, Deanna Strable, president, and chief executive officer, and Joel Pitz, executive vice president and chief financial officer, will discuss the results during a live conference call. Other members of senior management will be available for a question-and-answer session. The company's earnings release, financial supplement, and slides will be available on our website at To access the Tuesday, July 29 conference call: Connect to to listen to a live webcast. Please go to the website at least 10-15 minutes prior to the start of the call to register and to download/install any necessary audio software. A replay will be available on About Principal Financial Group ® Principal Financial Group ® (Nasdaq: PFG) is a global financial company with approximately 20,000 employees 1 passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we're helping approximately 70 million customers 1 plan, protect, invest, and retire, while working to support the communities where we do business. Principal is proud to be recognized as one of the 2025 World's Most Ethical Companyies 2 and named as a 'Best Places to Work in Money Management 3. Learn more about Principal and our commitment to building a better future at 1 As of March 31, 2025 2 Ethisphere, 2025 3 Pensions & Investments, 2024
Business Wire
a day ago
- Business
- Business Wire
Employees Surpass 145,000 Volunteer Hours in Celebration of the Company's 145
DES MOINES, Iowa--(BUSINESS WIRE)--Principal Financial Group ® today announced the successful completion of its 145,000-hour global volunteerism goal, a milestone set in July of 2024 to celebrate the company's 145th anniversary and enduring commitment to building strong communities. One year later, that collective effort has resulted in 157,657 volunteer hours served to support more than 4,100 nonprofits and community organizations across the globe - a 50% increase in volunteer hours completed by Principal employees as compared to the prior year. From delivering meals to elderly residents and veterans in Des Moines, to biking from Amsterdam to London in support of children with brain injuries, to taking senior citizens holiday shopping in Singapore, and teaching financial education classes to high school students in São Paulo —Principal ® employees marked the company's anniversary by giving back to the communities that have been integral to its growth over the last 145 years. To further amplify the impact of employee volunteerism, Principal ® Foundation makes a monetary donation for each hour volunteered to an employee's charitable giving profile, enabling the Principal employee to support causes meaningful to them. Over the past year, this effort generated more than $2.3 million in employee-directed support for nonprofits around the world. 'Giving back to the communities where our employees live and work is an integral part of our culture and who we are as a company,' said Deanna Strable, President and CEO of Principal Financial Group. 'I am proud of the lasting impact our employees have made within their communities. Our teams around the globe have combined purpose and passion to make a meaningful difference in the lives of so many.' These efforts align with the vision of Principal to help people build brighter futures and to support community-led change. Through strategic social commitments—including global grantmaking by Principal ® Foundation, strong Principal employee volunteerism, and a generous Principal Foundation matching gift program—Principal connects people, purpose, and resources to create meaningful, lasting change in communities around the world. 'Volunteering is more than an act of service—it's an extension of our values and our commitment to helping more people gain access to financial security,' said Jo Christine Miles, director of Principal ® Foundation and Community Relations. 'We're deeply grateful to our employees for the time, energy, and heart they've given to their communities. As we look to the future, we're excited to build on this momentum and deliver even greater impact, together.' Editor's note: Employee volunteer profiles are available upon request, Principal Financial Group ® (Nasdaq: PFG) is a global financial company with approximately 20,000 employees 1 passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we're helping approximately 70 million customers 1 plan, protect, invest, and retire, while working to support the communities where we do business. Principal is proud to be recognized as one of the 2025 World's Most Ethical Company's 2 and named as a 'Best Places to Work in Money Management 3. Learn more about Principal and our commitment to building a better future at Principal community relations supports the communities where affiliates of the Principal Financial Group ®, Des Moines, IA 50392 operates. Insurance products and plan administrative services provided through Principal Life Insurance Company ®, a member of the Principal Financial Group, Des Moines, IA 50392. Principal Financial Group Foundation, Inc. ('Principal ® Foundation') is a duly recognized 501(c)(3) entity focused on providing philanthropic support to programs that build financial security in the communities where Principal Financial Group, Inc. ('Principal') operates. While Principal Foundation receives funding from Principal, Principal Foundation is a distinct, independent, charitable entity. Principal Foundation does not practice any form of investment advisory services and is not authorized to do so. 1 2 Ethisphere, 2025 3 Pensions & Investments, 2023
Time of India
16-06-2025
- Business
- Time of India
How will RBI's STRIPS facility impact insurance companies?
Mumbai: The Reserve Bank of India last week allowed the STRIPS (Separate Trading of Registered Interest and Principal of Securities) facility in state government bonds-a seemingly technical change that could be a game changer for insurers. This facility is expected to allow insurance companies to manage cash flows and align their income from investments with future pay-outs to policyholders. STRIPS allows bond traders to strip principal and coupon payments and sell them separately. That means, the cash flows of a bond can be bought and sold. Bonds Corner Powered By How will RBI's STRIPS facility impact insurance companies? The Reserve Bank of India's decision to allow STRIPS in state government bonds is poised to revolutionize cash flow management for insurers. This move enables insurers to sell near-term asset inflows, aligning investment income with long-term policy payouts. STRIPS in state bonds offer a yield advantage and reduce reinvestment risk, making them attractive for long-term investors. RBI cancels 30-year green bond auction amid high bids India bond yields hit 5-week high as surging oil prices add to bearishness before auction RBI allows trading of state govt securities in STRIPS Banks see 15% rise in non-SLR investments in FY25 amid strong market returns Browse all Bonds News with "Insurance companies have long-term liabilities in our books, with little need for cash in the near term. STRIPS enables us to sell our near-term asset inflows, allowing better matching of our asset and liability cash flows," said Churchil Bhatt, executive vice president-investment at Kotak Mahindra Life Insurance Company. "STRIPS in state bonds add a dash of yield uptick to the already existing dual benefits of the product, namely additional duration and reduction in reinvestment risk," he added. Live Events STRIPS are bought at a deep discount and redeemed at face value, making them attractive to long-term, hold-to-maturity investors such as insurers, pension funds and passive debt funds. A key appeal of STRIPS in state bonds is their 30- to 40-basis-point yield pickup over STRIPS in central government securities (G-sec), along with the same sovereign backing, said Venkatakrishnan Srinivasan, managing partner, Rockfort Fincap, a fixed-income institutional advisory firm. In a notification on Thursday, the RBI said all fixed-coupon bonds issued by state governments with a residual maturity of up to 14 years and a minimum outstanding of Rs1,000 crore are eligible for STRIPS. However, these securities must be eligible for meeting the bank's statutory liquidity ratio requirements. Insurance companies have seen higher demand over the past few years for long-term products offering guaranteed returns. These companies look to deploy the inflows in such products in long-term assets like G-Secs and state bonds. According to bond market participants, STRIP has been permitted in eligible central government securities since April 2010. Extension of STRIPS will also help insurers reduce reinvestment risk, referring to the possibility of investors not being able to deploy proceeds from bonds at a desirable rate of interest. Transaction volumes in STRIPS have increased in recent years. According to data published by Clearing Corporation of India, the face value of STRIPS trades in G-secs rose to ₹2.47 lakh crore in FY25 from ₹38,383 crore pre-Covid in FY20. ETMarkets WhatsApp channel )
Yahoo
20-05-2025
- Business
- Yahoo
Principal® Names Joel Pitz Executive Vice President and Chief Financial Officer
Pitz fills role previously held by Deanna Strable, President & CEO DES MOINES, Iowa, May 20, 2025--(BUSINESS WIRE)--Principal Financial Group® (Nasdaq: PFG) today announced the appointment of Joel Pitz as executive vice president and chief financial officer, effective immediately. Pitz steps into the role after 30 years with Principal and brings extensive experience in successfully aligning financial strategy to business goals. "Joel has demonstrated strong leadership throughout his time at Principal and during his tenure as interim CFO which will continue to serve the company well," said Deanna Strable, Principal president and CEO. "Not only is his expertise highly valued by the organization, but he has also proven to be a trusted advisor to me personally." Pitz served Principal as senior vice president and controller prior to his appointment to interim CFO in August 2024. Before taking on the role of controller, he served as the CFO for international businesses, where he oversaw global finance and strategy for emerging market operations. He's held several leadership positions during his tenure with Principal, including chief accounting officer. "I'm honored to step into the role of chief financial officer," said Pitz. "I look forward to working alongside our talented teams as we continue to drive sustainable growth and create value for our stakeholders now and into the future." Pitz succeeds Deanna Strable, who was named president and chief operating officer in August of 2024 and president and chief executive officer in January 2025. About Principal Financial Group® Principal Financial Group® (Nasdaq: PFG) is a global financial company with approximately 20,000 employees1 passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we're helping approximately 70 million customers1 plan, protect, invest, and retire, while working to support the communities where we do business. Principal is proud to be recognized as one of the 2024 World's Most Ethical Companies2 and named as a Best Places to Work in Money Management3. Learn more about Principal and our commitment to building a better future at 1 As of March 31, 20252 Ethisphere, 20253 Pensions & Investments, 2024 View source version on Contacts Media contact: Sara Bonney, 515-878-0835, Investor contact: Humphrey Lee, 515-235-9500, Sign in to access your portfolio
Business Wire
20-05-2025
- Business
- Business Wire
Principal ® Names Joel Pitz Executive Vice President and Chief Financial Officer
DES MOINES, Iowa--(BUSINESS WIRE)-- Principal Financial Group ® (Nasdaq: PFG) today announced the appointment of Joel Pitz as executive vice president and chief financial officer, effective immediately. Pitz steps into the role after 30 years with Principal and brings extensive experience in successfully aligning financial strategy to business goals. 'Joel has demonstrated strong leadership throughout his time at Principal and during his tenure as interim CFO which will continue to serve the company well,' said Deanna Strable, Principal president and CEO. 'Not only is his expertise highly valued by the organization, but he has also proven to be a trusted advisor to me personally.' Pitz served Principal as senior vice president and controller prior to his appointment to interim CFO in August 2024. Before taking on the role of controller, he served as the CFO for international businesses, where he oversaw global finance and strategy for emerging market operations. He's held several leadership positions during his tenure with Principal, including chief accounting officer. 'I'm honored to step into the role of chief financial officer,' said Pitz. 'I look forward to working alongside our talented teams as we continue to drive sustainable growth and create value for our stakeholders now and into the future.' Pitz succeeds Deanna Strable, who was named president and chief operating officer in August of 2024 and president and chief executive officer in January 2025. About Principal Financial Group® Principal Financial Group® (Nasdaq: PFG) is a global financial company with approximately 20,000 employees 1 passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we're helping approximately 70 million customers 1 plan, protect, invest, and retire, while working to support the communities where we do business. Principal is proud to be recognized as one of the 2024 World's Most Ethical Companies 2 and named as a Best Places to Work in Money Management 3. Learn more about Principal and our commitment to building a better future at 1 As of March 31, 2025 2 Ethisphere, 2025 3 Pensions & Investments, 2024
