[February 22, 2018] |
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Securian Produces Strong Financial Results in 2017
Securian Financial Group generated strong financial results in 2017,
with earnings increasing 28 percent while the company paid its more than
18 million customers a record $5.3 billion in statutory benefits.
"Every year is unique, but 2017 stands out as a year in which we were
able to produce strong financial results while paying the highest amount
ever in benefits to our customers," said Chris Hilger, Securian's
chairman, president and CEO. "In addition, we advanced major efforts to
ensure the company's future success."
Performance on key metrics
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Top-line revenue increased 4 percent to $5.1 billion.
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Assets under management increased 11 percent to $78.6 billion.
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Insurance sales increased 7 percent to $1 billion.
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Insurance in force-the financial protection Securian provides to its
customers-stayed steady at nearly $1.2 trillion.
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Annuity sales, which include annuities sold to individuals and
retirement plans sold to employers, increased 29 percent to $2.6
billion.
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Domestic statutory capital increased 2 percent to $3.3 billion, a
level considered "AAA" by rating agencies.
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Earnings were $259 million, up 28 percent over 2016 due to business
growth, operating efficiencies, improved mortality results and strong
equity markets.1
Enterprise highlights
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All four major rating agencies affirmed Securian's high ratings citing
the company's diverse business profile, strong operating results, high
levels of capital and clarity of strategic priorities.2
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Securian completed the purchase of Canadian Premier Life Insurance
Company and affiliates in 2017 to further its leadership position in
the North American financial institution insurance market. The
acquisition is the largest in Securian's history and its first
international expansion.
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All Securian insurance and annuity business lines achieved retention
results of 93 percent or better, reflecting the high caliber of
service and overall financial value the company delivers.
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Securian advanced several digital and marketing initiatives in 2017 to
serve and engage its customers and distributors in new ways, setting
the stage for significant developments in these areas in 2018.
Community giving
Securian's contributions to the community from the Securian Foundation,
in-kind contributions, employee volunteerism and other cash gifts
totaled $5 million in 2017. Contribution highlights include $400,000 to
support hurricane relief efforts, Securian employees volunteering more
than 15,000 hours to their local communities and, for the 10th
consecutive year, Securian reaching the $1 million giving level to the
Greater Twin (News - Alert) Cities United Way.
Profit sharing for employees
For the 44th consecutive year, Securian will make a profit
sharing contribution to employees' retirement accounts. The company's
contribution rate for its 2017 results will be 7.7 percent of annual
salary. All employees receive the company contribution regardless of
whether or what they contribute to their retirement plans themselves,
and they have the option to take half of it in cash.
ABOUT SECURIAN FINANCIAL GROUP 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, Securian is the holding company parent of a group of
companies that offer a broad range of financial services.
1. Core earnings from continuing operations
2. For more information about the rating agencies and Securian's
insurance affiliates' ratings, visit www.securian.com/ratings.
DOFU 02-2018 430989
View source version on businesswire.com: http://www.businesswire.com/news/home/20180222005993/en/
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