| [February 14, 2012] |
 |
Securian Reports Record Results and Gives Employees the Best Kind of Valentine
ST. PAUL, Minn. --(Business Wire)--
"Securian Bandstand" offered groovy tunes and a good beat as the theme
for Securian Financial Group's annual all-company meeting today.
Employees had reason to dance when Securian Vice Chairman Randy
Wallake announced a nine percent of salary profit-sharing
distribution. The company will contribute that amount to all employees'
401k retirement plan accounts without requiring an employee match.
"In 2011, all of our key results exceeded our goals, and we made our 38th
consecutive profit-sharing distribution," said Robert Senkler, chairman
and CEO.
In a speech before 2,400 Securian employees in St. Paul's River Centre
this morning, Wallake cited 2011 results:
-
Top-line growth, measured as GAAP product revenue, increased 8.2
percent.
-
Securian's earnings rose 25% and were 27% over goal for an all-time
record of $184 mllion.
-
Capital measured as GAAP equity was up 7.6% to $3.3 billion.
-
Securian serves more than 10 million customers and paid $3.9 billion
in benefits in 2010.
Wallake also pointed out that insurance in force grew 13.5 percent to
more than $773 billion and assets under management increased 3.5% to
nearly $33 billion, despite the unstable market.
"Since the Great Recession began, we focused on building Securian's
capital position: It increased 63 percent from the beginning of 2009
though the end of 2011," he added.
At the meeting, Senkler recognized Wallake, who plans to retire July 1,
for his 25 years of leadership and introduced his successor, Christopher
Hilger, who became president of Securian January 1, 2012.
Since 1880, Securian
Financial Group and its affiliates have provided financial security
for individuals and businesses in the form of insurance, investments and
retirement plans. Now one of the nation's largest financial services
providers, it is the holding company parent of a group of companies that
include Minnesota
Life Insurance Company and Securian
Life Insurance Company, a New York-admitted insurer. Securian
Financial Group headquarters are in St. Paul, MN.
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