Financials
Asset Management
$17.82B
19.8K
Key insights and themes extracted from this filing
Net income attributable to Principal Financial Group decreased from $1,246.2 million for the three months ended September 30, 2023, to $(220.0) million for the three months ended September 30, 2024. This is a significant negative change in profitability.
Total revenues decreased from $4,598.7 million for the three months ended September 30, 2023, to $3,011.6 million for the three months ended September 30, 2024. This decrease is primarily due to a negative change in fair value of funds withheld embedded derivative.
Operating expenses increased from $1,286.1 million for the three months ended September 30, 2023, to $1,335.9 million for the three months ended September 30, 2024. This indicates potential inefficiencies in expense management.