Securian Financial Reports 2020 Financial Results
Securian Financial announced preliminary 2020 financial results during its annual all-company meeting yesterday, highlighted by continued revenue growth and increased community giving in a challenging year.
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Chris Hilger, Securian Financial Chairman, President and CEO (Photo: Business Wire)
"Securian Financial's purpose and values were on full display in 2020. The worst pandemic in a century highlighted the importance of the peace of mind and financial security we help provide our customers and their families. We took care of those who count on us when it mattered most," said Chris Hilger, Securian Financial's chairman, president and CEO.
"Throughout the year, we navigated a challenging environment by carefully managing our capital, taking actions to mitigate the negative impact of very low interest rates and pursuing growth opportunities consistent with our risk appetite. In addition, we continued to build our capital level and maintained our excellent overall financial strength," said Hilger.
Performance on key metrics
Contributions to the community from the Securian Financial Foundation, in-kind donations, employee volunteerism and other cash gifts totaled more than $8.5 million in 2020-a 25% increase over 2019. Securian Financial employees volunteered more than 17,000 hours in the community on activities ranging from pandemic relief efforts to service on more than 125 nonprofit boards.
Securian Financial also publicly committed to help foster social justice by investing in education for disadvantaged communities. Additionally, the Securian Financial Foundation established new anti-discrimination grant-making parameters requiring all applicants to demonstrate their commitment to diversity, equity and inclusion.
Finally, the company signed the Accounting for Sustainability (A4S) Net Zero Statement of Support-joining organizations worldwide in committing to publish a detailed pathway to net zero emissions. Securian Financial is a founding member of the U.S. chapter of A4S, a project established by the Prince of Wales to inspire finance leaders to shift toward sustainable business models.
For the 47th consecutive year, Securian Financial is making a profit-sharing contribution to eligible employees' retirement accounts. This year's company contribution is 4.6% of annual salary. Securian Financial also maintains a fully-funded, 100% employer-paid pension plan, with employees vested in the pension after five years of service. The company retained 93% of its employees in 2020.
Per its usual annual cycle, Securian Financial expects to release its 2020 Annual Report-with audited GAAP financial information-by April.
About Securian Financial
At Securian Financial, we're here for family. And we're here because of it. We're guided by our purpose: helping customers build secure tomorrows. Since 1880, we've been building a uniquely diversified company that has outlasted economic ups and downs while staying true to our customers. We're committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what's truly valuable: banking memories with those who matter most.
1. Ratings are assigned to the following Securian Financial Group member companies: Minnesota Life Insurance Company and Securian Life Insurance Company. To learn more about Securian Financial's strength and ratings, visit securian.com/ratings.
Securian Financial is the marketing name for Securian Financial Group, Inc. and its affiliates. Insurance products are issued by its affiliated insurance companies, including Minnesota Life Insurance Company and Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Securities and investment advisory services offered through Securian Financial Services, Inc., registered investment advisor, member FINRA/SIPC.