Principal Financial Insurance Company

Principal Financial Insurance Company
711 High Street
Des Moines, IA 50392

Principal Insurance Company was founded on July 1st 1879 as Bankers Life Association by Edward Temple along with several of his colleagues. Back then, the company only accepted healthy male members ages 21 to 55 employed in low risk occupations. Women were never allowed to join because childbirth, at the time, was deemed too dangerous. Even with these restrictions and limitations, the business grew quickly and in 1985, the company revised its name to Principal Financial Group. The Company went public in 2001. Today, the Principal Financial Group is regarded as a global leader in providing businesses, institutions and individuals an extensive range of financial products and services. The Company currently has assets of more than $247 billion dollars and serves some 19.1 Million customers and policy holders worldwide.

Headquartered in Des Moines, Iowa, the company has offices in 12 countries throughout the world. The Principal Financial Group also trades in the New York Stock Exchange under the PFG symbol. The Company currently employs 16, 200 employees worldwide and more than 13,000 professionals in the United States.

The Company mainly specialize in the insurance needs of small to medium scale businesses. Through the Principal Health Insurance Company, employers offer disability, health, dental, vision and health coverage to their employees. People from all walks of life can also avail from a wide variety of insurance services offered by the Company which also offers retirement plans which includes 401(k), defined benefit plans, 403(b), ESOP, and group annuities among others.

The Company received and continues to receive numerous recognitions, distinctions and awards throughout its long and illustrious history. Ranked 273rd on Fortune Magazine’s top 500 largest American Corporations as of May, 2009, the company has also been consistently awarded and recognized as one of the World’s Most Ethical Companies. In January 2009, the company received its seventh consecutive spot in Fortune Magazine’s list of the “Best Companies to Work For” ranking 17th. Other recognitions include: AARP’s Best Employer for Workers Over 50 (2001-2008), Top 30 Companies for Executive Women (2003-2009) and was ranked 33rd amongst the Top 500 Most Innovative Users of Information Technology in 2009. The Company reported some $3.75 billion dollars in revenues, a decrease of about $4.2 billion dollars the year before and a net income of $589.7 million dollars in 2009.

Financial ratings for Principal Financial Group include an A+ (Superior) with negative outlook from the A.M. Best Company as of November, 2009, an AA- (Very Strong) rating from Fitch with an outlook of “rating watch negative”. Moody’s Investors Service also provided an Aa3 (Excellent) rating also with a negative outlook.

The Principal Financial Group’s key people include Mr. Larry Zimpleman, Chairman, President and Chief Executive Officer of the Principal Financial Group. Mr. Daniel J. Houston, President for Retirement, Insurance and Financial Services. Mr. James P. McCaughan, President for Global Asset Management. Mr. Norman R. Sorensen, President for International Asset Management and Accumulation and President and Chief Executive Officer of Principal International Incorporated. Ms. Karen E. Shaff, elected Executive Vice President and General Counsel and Mr. Rex Auyeung, Senior Vice President of the Company and President for Principal Financial Group Asia.