Principal Financial profit rises on retirement, investment management strength

Principal Financial

23/04/2026 21:32

April 23 (Reuters) - Principal Financial Group PFG.N reported a rise in first-quarter profit on strength in its retirement and income solutions business as well as strong results in investment management.

Retirement products continue to draw steady demand as individuals prioritize long-term savings and income security, while asset management fees have also remained resilient, even as market volatility and economic uncertainty test investor sentiment.

Here are some details of the results:

The company's retirement and income solutions business saw 6% growth in pre-tax operating earnings to $302.1 million in the quarter.

At its investment management segment, pre-tax operating earnings climbed 8% to $125.1 million.

Profit came in at $1.93 per share for the three months ended March 31, versus 21 cents per share a year ago.

The company returned $374 million in capital to shareholders in the quarter.

Assets under management came in at $770.2 billion, up 7% compared to the previous year.

 (Reporting by Arasu Kannagi Basil and Manya Saini in Bengaluru; Editing by Vijay Kishore)

 ((Manya.Saini@thomsonreuters.com; X: manya__saini;))