May 30, 2024

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Securian Monetary Stories 2020 Economic Outcomes

4 min read

Securian Fiscal introduced preliminary 2020 monetary final results in the course of its yearly all-corporation assembly yesterday, highlighted by continued income expansion and improved group offering in a difficult year.

This press release options multimedia. Check out the total launch below: https://www.businesswire.com/news/property/20210218005906/en/

Chris Hilger, Securian Monetary Chairman, President and CEO (Photo: Organization Wire)

“Securian Financial’s reason and values were on comprehensive display in 2020. The worst pandemic in a century highlighted the relevance of the peace of thoughts and money security we help offer our clients and their people. We took care of people who count on us when it mattered most,” claimed Chris Hilger, Securian Financial’s chairman, president and CEO.

“All through the year, we navigated a challenging ecosystem by carefully taking care of our money, getting actions to mitigate the negative impact of really small curiosity charges and pursuing growth possibilities regular with our danger urge for food. In addition, we ongoing to develop our cash degree and maintained our excellent total money strength,” explained Hilger.

Functionality on vital metrics

  • Coverage revenue, like team life insurance coverage, personal lifestyle insurance policies and insurance coverage merchandise bought by monetary institutions and affinity companies, had been reliable at $500 million. Retirement products—including 401(k) programs, specific annuities and pension danger transfers—had their next best revenue in firm heritage, at $2.8 billion.

  • Robust profits, mixed with fantastic client retention of 94% or much better throughout all insurance coverage and retirement company lines, contributed to top-line income development of extra than 6%, to $6.3 billion. Leading-line revenue is the company’s main earnings metric which excludes sure non-recurring earnings. GAAP income amplified 4% to nearly $6.9 billion.

  • Functioning earnings fell 65% to $116 million, and net earnings reduced 44% to $243 million, primarily because of to COVID-19 related rewards for policyholders.

Business highlights

  • Designed important investments in strategic company priorities, which include continuing a multi-yr technological innovation transformation and boosting abilities to deal with sector developments currently being accelerated by the pandemic.

Group initiatives

Contributions to the group from the Securian Fiscal Foundation, in-sort donations, worker volunteerism and other cash gifts totaled additional than $8.5 million in 2020—a 25% maximize around 2019. Securian Fiscal workers volunteered more than 17,000 hours in the neighborhood on things to do ranging from pandemic aid attempts to provider on a lot more than 125 nonprofit boards.

Securian Monetary also publicly dedicated to aid foster social justice by investing in schooling for disadvantaged communities. On top of that, the Securian Money Foundation proven new anti-discrimination grant-creating parameters requiring all candidates to reveal their motivation to diversity, equity and inclusion.

Finally, the company signed the Accounting for Sustainability (A4S) Internet Zero Statement of Support—joining organizations around the world in committing to publish a comprehensive pathway to web zero emissions. Securian Economic is a founding member of the U.S. chapter of A4S, a project proven by the Prince of Wales to encourage finance leaders to change towards sustainable organization styles.

Gain sharing

For the 47th consecutive 12 months, Securian Economic is earning a earnings-sharing contribution to qualified employees’ retirement accounts. This year’s firm contribution is 4.6% of annual wage. Securian Money also maintains a fully-funded, 100% employer-compensated pension prepare, with staff members vested in the pension just after 5 years of company. The firm retained 93% of its staff members in 2020.

Per its common yearly cycle, Securian Economical expects to release its 2020 Annual Report—with audited GAAP money information—by April.

About Securian Monetary

At Securian Fiscal, we’re below for relatives. And we’re in this article simply because of it. We’re guided by our goal: serving to shoppers construct safe tomorrows. Because 1880, we’ve been developing a uniquely diversified corporation that has outlasted economic ups and downs though being genuine to our prospects. We’re dedicated to the marketplaces we serve, providing insurance policies, investment decision and retirement methods that give family members the self esteem to target on what is truly important: banking reminiscences with all those who subject most.

1. Rankings are assigned to the adhering to Securian Monetary Group member providers: Minnesota Everyday living Insurance policy Corporation and Securian Existence Insurance coverage Company. To discover far more about Securian Financial’s strength and rankings, check out securian.com/rankings.

Securian Monetary is the internet marketing identify for Securian Monetary Team, Inc. and its affiliate marketers. Insurance policy products are issued by its affiliated insurance providers, which include Minnesota Everyday living Insurance policies Firm and Securian Existence Insurance Firm, a New York licensed insurer. Minnesota Life is not an approved New York insurer and does not do insurance plan company in New York. The two companies are headquartered in St. Paul, MN. Securities and expense advisory providers supplied by way of Securian Money Products and services, Inc., registered investment advisor, member FINRA/SIPC.

DOFU 2-2021
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Perspective supply variation on businesswire.com: https://www.businesswire.com/information/house/20210218005906/en/

Contacts

Securian Economic
Jeff Bakken, Media Relations
651-665-7558
[email protected]

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