Principal Financial Q3 profit rises on higher premiums and investment income

Principal Financial

26/10/2023 23:16

Oct 26 (Reuters) - Principal Financial Group  PFG.O 
posted a rise in third-quarter profit on Thursday, helped by
higher premiums and income from investments. 
    Premium and fees from its specialty benefits business rose
8% to $771.3 million, from a year ago.
    Net investment income came in at $989.2 million, up from
$911.7 million in the year-ago period. 
    Principal Financial's AUM for the quarter ended Sept. 30
stood at $650.6 billion, up from $607.8 billion last year.
    On an adjusted basis, net income attributable to Principal
Financial was $544.4 million, or $2.23 per share, up from $395.9
million, or $1.57 per share last year.

 (Reporting by Pritam Biswas in Bengaluru; Editing by Shailesh
Kuber)
 ((Pritam.Biswas@thomsonreuters.com;))