Retirement & Income Solutions was Principal Financial’s largest segment in fiscal 2025, bringing in $8.18B of $15.37B (53%).
| Segment | FY 2025 |
|---|---|
| Retirement & Income Solutions | $8.18B |
| Benefits & Protection | $4.97B |
| Principal Asset Management | $2.81B |
| Corporate | $101.20M |
| Inter-Segment Eliminations | -$686.90M |
| Total | $15.37B |
Principal Financial brought in $15.37B from its five segments in fiscal 2025, the year ended December 31, 2025. Retirement & Income Solutions was the largest at $8.18B (53.2%), ahead of Benefits & Protection at $4.97B (32.3%) and Principal Asset Management at $2.81B (18.3%). The remaining segment, Corporate, brought in $101.20M.
The total is net of Inter-Segment Eliminations, which took $686.90M off revenue in fiscal 2025.
Principal Life Insurance Company Only was Principal Financial’s largest revenue line in fiscal 2013, bringing in $5.98B of $9.29B (64%).
| The axis of all parent companies and/or subsidiaries when a parent guarantees notes issued by a subsidiary. | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 |
|---|---|---|---|---|---|---|
| Principal Life Insurance Company Only | — | — | $6.59B | $5.98B | ||
| Subsidiaries Principal Life Insurance Company | $7.47B | $6.99B | — | — | ||
| Principal Financial Services, Inc. & Other Subsidiaries Combined | — | — | $2.93B | $3.63B | ||
| Subsidiaries Principal Financial Services & Other | $1.95B | $1.93B | — | — | ||
| Principal Financial Group, Inc. Parent Only | — | — | $3.80M | $6.70M | ||
| Parent Company | $34.00M | -$11.80M | — | — | ||
| Eliminations, Notes Guarantor | — | — | -$310.90M | -$326.80M | ||
| Consolidation Eliminations & Other Notes Guarantor | -$252.00M | -$231.70M | — | — | ||
| Total | $9.20B | $8.67B | $9.22B | $9.29B |
Principal Financial brought in $9.29B from its four revenue lines in fiscal 2013, the year ended December 31, 2013. That was up 0.8% from $9.22B in fiscal 2012. Principal Life Insurance Company Only was the largest at $5.98B (64.4%), ahead of Principal Financial Services, Inc. & Other Subsidiaries Combined at $3.63B (39.0%) and Principal Financial Group, Inc. Parent Only at $6.70M (0.1%).
Compared with fiscal 2012, Principal Financial Services, Inc. & Other Subsidiaries Combined grew 23.7% to $3.63B, while Principal Life Insurance Company Only fell 9.2% to $5.98B.
Principal Financial began breaking out Principal Life Insurance Company Only in fiscal 2012, Principal Financial Services, Inc. & Other Subsidiaries Combined in fiscal 2012, Principal Financial Group, Inc. Parent Only in fiscal 2012 and Eliminations, Notes Guarantor in fiscal 2012. Principal Financial stopped reporting Subsidiaries Principal Life Insurance Company ($6.99B in fiscal 2011) and Subsidiaries Principal Financial Services & Other ($1.93B in fiscal 2011) as separate revenue lines. The total is net of Eliminations, Notes Guarantor, which took $326.80M off revenue in fiscal 2013.
Principal Life Insurance Company & Other Subsidiaries Combined was Principal Financial’s largest revenue line in fiscal 2013, bringing in $9.30B of $9.29B (100%).
| The axis of all parent companies and/or subsidiaries when a subsidiary guarantees obligations of its parent. | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 |
|---|---|---|---|---|---|---|
| Principal Life Insurance Company & Other Subsidiaries Combined | — | — | $9.21B | $9.30B | ||
| Subsidiaries Principal Life Insurance & Other | $9.17B | $8.69B | — | — | ||
| Principal Financial Group, Inc. Parent Only | — | — | $3.80M | $6.70M | ||
| Parent Company | $34.00M | -$11.80M | — | — | ||
| Principal Financial Services, Inc. Only | — | — | $3.40M | $6.90M | ||
| Subsidiary Principal Financial Services | -$3.30M | -$3.30M | — | — | ||
| Eliminations, Shelf Registration Debt Guarantor | — | — | -$600.00K | -$28.80M | ||
| Consolidation Eliminations & Other Shelf Registration Debt Guarantor | -$100.00K | — | — | — | ||
| Total | $9.20B | $8.67B | $9.22B | $9.29B |
Principal Financial brought in $9.29B from its four revenue lines in fiscal 2013, the year ended December 31, 2013. That was up 0.8% from $9.22B in fiscal 2012. Principal Life Insurance Company & Other Subsidiaries Combined was the largest at $9.30B (100.2%), ahead of Principal Financial Services, Inc. Only at $6.90M (0.1%) and Principal Financial Group, Inc. Parent Only at $6.70M (0.1%).
Principal Financial began breaking out Principal Life Insurance Company & Other Subsidiaries Combined in fiscal 2012, Principal Financial Group, Inc. Parent Only in fiscal 2012, Principal Financial Services, Inc. Only in fiscal 2012 and Eliminations, Shelf Registration Debt Guarantor in fiscal 2012. Principal Financial stopped reporting Subsidiaries Principal Life Insurance & Other as a separate revenue line after fiscal 2011, when it brought in $8.69B. The total is net of Eliminations, Shelf Registration Debt Guarantor, which took $28.80M off revenue in fiscal 2013.
Principal Financial (PFG) reports its revenue by segment, by the axis of all parent companies and/or subsidiaries when a parent guarantees notes issued by a subsidiary. and by the axis of all parent companies and/or subsidiaries when a subsidiary guarantees obligations of its parent.. In fiscal 2025, Retirement & Income Solutions was its largest segment, bringing in $8.18B (53.2% of the total), followed by Benefits & Protection at $4.97B (32.3%).
Retirement & Income Solutions was Principal Financial's largest segment in fiscal 2025, bringing in $8.18B, or 53.2% of the $15.37B total across its five segments.
Principal Life Insurance Company Only was Principal Financial's largest revenue line in fiscal 2013, bringing in $5.98B, or 64.4% of the $9.29B total across its four revenue lines.
Principal Financial Services, Inc. & Other Subsidiaries Combined grew faster than Principal Life Insurance Company Only in fiscal 2013, up 23.7% from $2.93B to $3.63B. Principal Life Insurance Company Only fell 9.2% to $5.98B.
Every figure comes from Principal Financial's annual financial filings, as reported. Each line keeps the name Principal Financial gives it, and years follow its fiscal calendar.
Principal Financial's revenue by segment goes back to fiscal 2025, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.