|[February 11, 2014]
Securian Financial Group Shatters Records with 2013 Results
ST. PAUL, Minn. --(Business Wire)--
Financial Group set several significant business records in 2013:
Proprietary insurance sales rose 10 percent to $967 million.
As of January 1, Securian provides more than $1 trillion of insurance
Assets under management rose 15 percent to $42.1 billion.
Top-line revenue rose 11.5 percent to $3.5 billion.
Earnings rose seven percent to $226 million.
These results exceeded expectations, even when considering the strong
equity market returns that benefited the entire insurance industry.
"We delivered where it matters most - providing protection and benefits
to our customers," said Bob
Senkler, chairman and CEO, Securian Financial Group. "We provide
long-term financial security, and in 2013 the record I am most proud of
is the over $4 billion in benefits we paid to the people we serve when
they needed us most."
Keeping commitments through the decades
Speaking to more
than 2,000 employees at Securian's annual all-company meeting at the
River Centre in downtown St. Paul, Senkler shared an anecdote about the
company's long-term commitments to customers. In 2013, Securian paid a
claim on a life insurance policy purchased 87 years ago.
"In the decades since we issued that policy, this company has survived
the Great Depression, World War II, 9-11, the 208 financial crisis and
the Great Recession," said Senkler. "We remained financially strong
through it all so that when our customers and their families needed us,
we were there for them." The company serves over 13 million customers in
the United States and Puerto Rico.
Sales records broken throughout the company
Securian's business lines also broke records in 2013:
Advantus Capital Management generated record sales of $1.6 billion
Individual life insurance sales set a record at $214 million.
Individual annuity sales rose 57 percent to $936 million.
The group life insurance unit exceeded its goal by nearly 50 percent
with sales of $254 million.
Securian's financial institution group proprietary sales rose to $429
"We stay true to the priorities that have guided our business decisions
since we opened our doors in 1880 just a few blocks from here," said Chris
Hilger, president, Securian Financial Group. "We are committed to
our customers and provide exceptional service. We manage risk carefully
and stay focused on maintaining our long-term financial strength. That's
why we can deliver on commitments made to our customers nearly 90 years
Retirement plan profit sharing announced
In keeping with
tradition, Senkler announced - amid loud and lengthy cheers -- that the
company's contribution to employees' retirement savings accounts this
year will be nine percent of annual salary. This is the fortieth
consecutive year of Securian's profit sharing.
Securian's insurance company affiliates are highly-rated
by the four independent rating organizations that analyze financial
strength and claims-paying history.
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 life insurance groups,
it is the holding company parent of several companies.
Insurance products are issued by Minnesota
Life Insurance Company in all states except New York where products
are issued by Securian
Life Insurance Company, a New York authorized insurer. Both
companies are headquartered in Saint Paul, MN and each insurer is solely
responsible for the financial obligations under the policies and
contracts it issues. Product availability and features may vary by state.
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