Financials
Asset Management
$17.82B
19.8K
Key insights and themes extracted from this filing
The company reported total revenues of $4,310.8 million for the three months ended June 30, 2024, compared to $3,557.3 million for the same period in 2023. This increase is attributed to gains in premiums, fees, and net investment income.
Net income attributable to Principal Financial Group, Inc. was $353.1 million, compared to $388.8 million for the same period in 2023. The decrease was primarily due to a $158.1 million unfavorable one-time impact of YRT Reinsurance Transactions.
Operating expenses increased to $1,320.7 million compared to $1,252.7 million in the prior year. This contributed to a decrease in income before income taxes, from $453.6 million to $443.9 million.