Retirement challenges knock Principal Financial's earnings
Principal Financial Group Inc. said its fourth-quarter net income dipped 18 percent as its retirement business continued to face challenges amid the slow economic recovery.
By BenefitsPro staff|February 03, 2012 at 08:23 AM
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DES MOINES, Iowa (AP) — Insurance, retirement and financial services company Principal Financial Group Inc. said Thursday that its fourth-quarter net income dipped 18 percent as its retirement business continued to face challenges amid the slow economic recovery.
The company reported net income of $164 million, or 54 cents a share, in the October-December quarter last year, down from $199.3 million, or 62 cents a share, in the final quarter of 2010. The latest result takes into account net realized capital losses of $53.4 million.
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