Life Insurance & Annuities was the largest of Principal Financial Group Inc’s 2 reported lines in fiscal 2024, at $12.88B — 63% of $20.55B.
| Product and Service | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Life Insurance & Annuities | $8.46B | $9.32B | $12.15B | $12.88B | ||||||||
| Operating Revenues | — | — | — | — | ||||||||
| Accident & Health Insurance | $6.06B | $6.70B | $7.26B | $7.67B | ||||||||
| Segment Reporting Information, Revenue | — | — | — | — | ||||||||
| Segment Reporting Information, Revenue For Reportable | — | — | — | — | ||||||||
| Total | $14.52B | $16.02B | $19.41B | $20.55B |
In fiscal 2024, which ended December 31, 2024, the 2 revenue lines Principal Financial Group Inc reported in this breakdown added up to $20.55B. That was up 5.9% from $19.41B in fiscal 2023. Life Insurance & Annuities was the largest revenue line, at $12.88B or 62.7% of the total, followed by Accident & Health Insurance ($7.67B, 37.3%).
Compared with fiscal 2023, Life Insurance & Annuities grew the fastest, rising 6.0% to $12.88B. Over fiscal 2021 to 2024, revenue across these revenue lines went from $14.52B to $20.55B, a compound annual growth rate of 12.3%. Life Insurance & Annuities' share of the total rose from 58.3% to 62.7% over the same years.
The table also keeps 3 revenue lines that Principal Financial Group Inc no longer reports, so earlier years can still be read on their original basis; use "Show 3 discontinued" beneath the table to see them. This breakdown covers 12 fiscal years between 2008 and 2024, as reported in Principal Financial Group Inc's annual filings.
Benefits & Protection was the largest of Principal Financial Group Inc’s 4 reported lines in fiscal 2024, at $9.67B — 50% of $19.15B.
| Statement Business Segments | FY 2009 | FY 2010 | FY 2012 | FY 2013 | FY 2014 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Benefits & Protection | $7.49B | $8.31B | $9.06B | $9.67B | ||||||
| Retirement & Income Solutions | $5.65B | $5.88B | $8.81B | $9.41B | ||||||
| U.S. Insurance Solutions | — | — | — | — | ||||||
| Premiums Earned, Net | — | — | — | — | ||||||
| Premiums Earned, Net, Total | — | — | — | — | ||||||
| Retirement & Investor Services | — | — | — | — | ||||||
| Corporate | — | -$12.60M | -$43.50M | -$15.60M | ||||||
| Principal International | — | — | — | — | ||||||
| Principal Asset Management | $382.50M | $233.10M | $87.00M | $86.10M | ||||||
| Total | $13.52B | $14.41B | $17.91B | $19.15B |
In fiscal 2024, which ended December 31, 2024, the 4 segments Principal Financial Group Inc reported in this breakdown added up to $19.15B. That is less than the $20.55B in its breakdown by revenue line, so these segments do not account for all of its revenue that year. Benefits & Protection was the largest segment, at $9.67B or 50.5% of the total, followed by Retirement & Income Solutions ($9.41B, 49.1%) and Principal Asset Management ($86.10M, 0.4%). Together, the two largest segments made up 99.6% of this total.
Compared with fiscal 2023, Retirement & Income Solutions grew the fastest, rising 6.9% to $9.41B.
Figures are shown as reported, so the total is net of Corporate, which was -$15.60M in fiscal 2024. The table also keeps 5 segments that Principal Financial Group Inc no longer reports, so earlier years can still be read on their original basis; use "Show 5 discontinued" beneath the table to see them. This breakdown covers 10 fiscal years between 2009 and 2024, as reported in Principal Financial Group Inc's annual filings.
Principal Life Insurance Company & Other Subsidiaries Combined was the largest of Principal Financial Group Inc’s 4 reported lines in fiscal 2018, at $42.69B — 100% of $42.71B.
| Parent And Subsidiaries Shelf Registration Debt Guarantor | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Principal Life Insurance Company & Other Subsidiaries Combined | $35.82B | $37.11B | $42.09B | $42.69B | |||||||
| Revenues | — | — | — | — | |||||||
| Premiums Earned, Net | — | — | — | — | |||||||
| Premiums Earned, Net, Total | — | — | — | — | |||||||
| Total Revenues | — | — | — | — | |||||||
| Principal Financial Services, Inc. Only | $45.60M | $64.80M | $4.80M | -$22.50M | |||||||
| Eliminations, Shelf Registration Debt Guarantor | $19.80M | $300.00K | $136.50M | -$9.60M | |||||||
| Principal Financial Group, Inc. Parent Only | $4.80M | $10.20M | $50.70M | $52.80M | |||||||
| Total | $35.89B | $37.18B | $42.28B | $42.71B |
In fiscal 2018, which ended December 31, 2018, the 4 revenue lines Principal Financial Group Inc reported in this breakdown added up to $42.71B. That was up 1.0% from $42.28B in fiscal 2017. Principal Life Insurance Company & Other Subsidiaries Combined was the largest revenue line, at $42.69B or 100.0% of the total, followed by Principal Financial Group, Inc. Parent Only ($52.80M, 0.1%).
Over fiscal 2015 to 2018, revenue across these revenue lines went from $35.89B to $42.71B, a compound annual growth rate of 6.0%. Principal Life Insurance Company & Other Subsidiaries Combined held a steady share of about 100.0%.
Figures are shown as reported, so the total is net of Principal Financial Services, Inc. Only, which was -$22.50M in fiscal 2018. The table also keeps 4 revenue lines that Principal Financial Group Inc no longer reports, so earlier years can still be read on their original basis; use "Show 4 discontinued" beneath the table to see them. This breakdown covers every fiscal year from 2008 to 2018, as reported in Principal Financial Group Inc's annual filings.
Principal Financial Group Inc (PFG) breaks its revenue down by revenue line and segment. In fiscal 2024, its largest revenue line was Life Insurance & Annuities, with $12.88B or 62.7% of the total, followed by Accident & Health Insurance at $7.67B (37.3%).
Life Insurance & Annuities was Principal Financial Group Inc's largest revenue line in fiscal 2024, with $12.88B in revenue, 62.7% of the $20.55B reported across its 2 revenue lines.
Benefits & Protection was Principal Financial Group Inc's largest segment in fiscal 2024, with $9.67B in revenue, 50.5% of the $19.15B reported across its 4 segments.
Of the Principal Financial Group Inc revenue lines reported in both fiscal 2023 and fiscal 2024, and making up at least 2% of the total, Life Insurance & Annuities grew the fastest, rising 6.0% from $12.15B to $12.88B.
Every figure is taken from Principal Financial Group Inc's annual financial filings and shown as reported: each line keeps the name the company gives it, years follow its own fiscal calendar, and lines it has stopped reporting stay in the table for the years they were reported.
The breakdown by revenue line covers fiscal 2008 to 2024. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.