At its annual all-company assembly, Securian Monetary introduced strong preliminary 2018 monetary outcomes, together with year-over-year will increase in complete gross sales, top-line income and earnings.
“In 2018, Securian Monetary achieved robust monetary efficiency whereas considerably advancing our strategic priorities and rising our neighborhood dedication,” stated Chris Hilger, Securian Monetary’s chairman, president and CEO. “Most significantly, we as soon as once more fulfilled our objective to assist our clients defend their family members and put together for the longer term by paying $5.7 billion in statutory advantages.”
Efficiency on key metrics
Insurance coverage gross sales elevated 5 % to $1.three billion
Annuity gross sales have been in line with 2017 at $2.6 billion
High-line revenue1 elevated 7 % to $5.four billion
Working earnings elevated 9 % to $335 million because of robust continued enterprise progress and tax reform
Insurance coverage in drive—the monetary safety Securian Monetary gives to its clients—elevated 2 % to greater than $1.2 trillion
Belongings below administration held regular at $78.5 billion
Capital remained at a degree anticipated to be thought of “AAA” by ranking businesses
Enterprise highlights
Ranking company Commonplace & Poor’s upgraded Securian Monetary’s ranking from A+ (Robust) to AA- (Very Robust), citing the corporate’s enterprise diversification, strong aggressive positions within the group life and listed common life insurance coverage markets, robust capitalization, buyer retention and constant GAAP working efficiency. The opposite three main ranking businesses all affirmed Securian Monetary’s rankings in 2018.2
The corporate launched a brand new Securian Monetary model identification and first-ever nationwide tv promoting marketing campaign to lift consciousness and familiarity with clients and distributors, entice and retain expertise, and help future progress aspirations.
All insurance coverage and annuity enterprise strains achieved retention outcomes of 92 % or higher, reflecting the worth the corporate delivers.
Group giving
Securian Monetary’s contributions to the neighborhood from the Securian Monetary Basis, in-kind donations, worker volunteerism and different money presents totaled $6.1 million in 2018—a 22 % enhance over 2017 and one other large step ahead within the firm’s five-year aim of doubling its neighborhood giving to $9.four million by 2021.
Revenue sharing for workers
For the 45th consecutive yr, Securian Monetary will make a revenue sharing contribution to eligible workers’ retirement accounts. The corporate’s contribution for its 2018 outcomes will likely be 6.5 % of annual wage. All eligible workers obtain a contribution, no matter whether or not or how a lot they contribute to their retirement plans themselves. Securian Monetary additionally maintains a fully-funded, 100 % employer-paid pension plan, with workers vested within the pension after 5 years of service. The corporate retained 94 % of its workers in 2018.
Per its standard annual cycle, Securian Monetary expects to launch its 2018 Annual Report, with audited GAAP monetary data, in late April.
About Securian Monetary
At Securian Monetary, we’re right here for household. And we’re right here due to it. We’re guided by our objective: serving to clients construct safe tomorrows. Since 1880, we’ve been constructing a uniquely diversified firm that has outlasted financial ups and downs whereas staying true to our clients. We’re dedicated to the markets we serve, offering insurance coverage, funding and retirement options that give households the arrogance to give attention to what’s actually useful: banking recollections with those that matter most.
1. High-line income is Securian Monetary’s major administration metric for income and excludes sure non-recurring income.
2. Commonplace & Poor’s ranking (fifth highest of 23 rankings). All rankings data as of March 7, 2018. These rankings are assigned to the next Securian Monetary Group member corporations: Minnesota Life Insurance coverage Firm and Securian Life Insurance coverage Firm. To be taught extra about Securian Monetary’s energy and rankings, go to securian.com/rankings.
Securian Monetary is the advertising and marketing title for Securian Monetary Group, Inc. and its associates. Insurance coverage merchandise are issued by its affiliated insurance coverage corporations, together with Minnesota Life Insurance coverage Firm and Securian Life Insurance coverage Firm, a New York approved insurer. Minnesota Life isn't a certified New York insurer and doesn't do insurance coverage enterprise in New York. Each corporations are headquartered in St. Paul, MN. Securities and funding advisory providers supplied by way of Securian Monetary Providers, Inc., registered funding advisor, member FINRA/SIPC.
Post a Comment