PRINCIPAL FINANCIAL GROUP, INC. (NYSE:PFG) Files An 8-K Regulation FD Disclosure
Item 7.01Regulation FD Disclosure
As highlighted on Principal Financial Group, Inc.’s (the “Company”) 2019 Outlook call held on December 3, 2018, and as emphasized within its Annual Report on Form 10-K (filed with the Securities and Exchange Commission on February 13, 2019), effective January 1, 2019, the Company began making changes to the allocation of certain compensation and other expenses and net investment income among its reportable business segments. These allocation changes were made as a result of an enterprise-wide global financial process improvement project.
The expense allocation changes simplify the allocation processes, increase transparency and allow for more effective expense management across the enterprise. The net investment income allocation changes better align the Company’s internal capital allocation with enterprise capital targets.
Segment results for prior periods will be recast so they are reported on a comparable basis, with no impact to total Company financial results. Today, the Company is providing on its Investor Relations website (at www.principal.com/investor) for illustrative purposes a recast, reformatted version of its financial supplement for the fourth quarter of 2018, using historical financial results.
About PRINCIPAL FINANCIAL GROUP, INC. (NYSE:PFG)
Principal Financial Group, Inc. is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S. Insurance Solutions. It offers retirement and employee benefit solutions, and individual insurance solutions. It offers portfolio of products and services for retirement savings and retirement income. Its Principal Global Investors segment manages assets for investors around the world, using a multi-boutique strategy that provides diverse investment capabilities, including equity, fixed income, real estate and other alternative investments. It offers pension accumulation products and services, mutual funds, asset management, income annuities and life insurance accumulation products. The U.S. Insurance Solutions segment provides group and individual insurance solutions.