PRINCIPAL LIFE INS CO
Major Rating Factors:
Good liquidity (5.4 on a scale of 0 to 10) with sufficient resources to handle a spike in claims as well as a significant increase in policy surrenders. Fair quality investment portfolio (4.8) with large holdings of BBB rated bonds in addition to junk bond exposure equal to 97% of capital. Exposure to mortgages is significant, but the mortgage default rate has been low. Fair overall results on stability tests (4.6).
Other Rating Factors:
Weak profitability (2.9) with operating losses during the first six months of 2022. Strong capitalization (7.0) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
I - Past results on our Investment Safety Index.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Group annuities (30.3%), group health (26.5%), ind annuities (12.9%), group life (7.9%), ind health (7.7%), other (14.6%)
Licensed in:
All states, the District of Columbia and Puerto Rico
Investments
Invested Assets
Cash
CMO & Structured Securities
Other Investment Grade Bonds
Non-Investment Grade Bonds
Common & Preferred Stock
Mortgages in Good Standing
Non-Performing Mortgages
Real Estate
Other Investments
Investments in Affiliates
Corporate Info
Group Affiliation
Principal Financial Group
Investment Rating
Company Address
711 HIGH STREET
DES MOINES, IA 50392
DES MOINES, IA 50392
Phone Number
(515) 247-5111
NAIC Number
61271
Website
Largest Affiliates
