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Principal Financial's Q4 profit climbs on strength in specialty benefits business

Principal Financial Group reported a significant increase in its fourth-quarter profit, driven by robust performance in its specialty benefits business. The company's net income rose to $458.8 million, or $1.90 per share, for the quarter ending December 31, up from $388.5 million, or $1.54 per share, in the same period the previous year. This growth was attributed to higher premiums, fees, and other revenues, particularly from the specialty benefits segment which includes group dental, vision, life, and disability insurance. Additionally, Principal Financial benefited from a favorable claims experience and strong sales in this sector. However, the company also noted an increase in expenses due to higher compensation costs and investments in technology. Despite these costs, the overall financial health of the company was bolstered by its diversified business model and strategic focus on expanding its specialty benefits offerings.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/principal-financials-q4-profit-climbs-strength-specialty-benefits-business-2025-02-06/ ]