Principal Financial Group, Incorporated (NYSE:PFG) 711 High Street Des Moines, IA 50392 Phone: (515) 247-5111 Fax: (515) 246-5475 http://www.principal.com
Principal Financial Group, Inc. was organized on April 18, 2001, as a Delaware business corporation. The Company, along with its consolidated subsidiaries, is a financial services organization, which is engaged in promoting retirement savings and investment and insurance products and services in the U.S. and selected international markets. It organizes its businesses into the following reportable segments: U.S. Asset Accumulation; Global Asset Management; International Asset Management and Accumulation and Life and Health Insurance. It also has a Corporate segment, which consists of the assets and activities that have not been allocated to any other segment. The U.S. Asset Accumulation segment provides retirement and related financial products and services to businesses, their employees and other individuals. The Global Asset Management segment provides asset management services to the Company's asset accumulation business, its life and health insurance operations, the Corporate segment and third-party clients. The International Asset Management and Accumulation segment consists of Principal International, which has operations in Brazil, Chile, China, Hong Kong Special Administrative Region, India, Indonesia, Malaysia, Mexico and Singapore. The Life and Health insurance segment provides individual life insurance, group health insurance and specialty benefits, which consists of group dental and vision insurance, individual and group disability insurance and group life insurance, throughout the United States. Each of the Company's segments faces competition. The main competitors for its U.S. Asset Accumulation and Global Asset Management segments are asset managers, banks, broker-dealers and insurers. Competition for its International Asset Management and Accumulation segment comes mainly from local financial services firms and other international companies operating on a stand-alone basis or in partnership with local firms. Its Life and Health Insurance segment competes with insurers and managed health care organizations. The Company's businesses are subject to regulation and supervision by U.S. federal and state regulatory authorities as well as non-U.S. regulatory authorities for its operations outside the U.S. Its businesses are also affected by U.S. federal, state and local tax laws as well as tax laws for jurisdictions outside the U.S.
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