Principal Financial Group - M&A Summary and Business Overview

InsuranceCompany

Principal Financial Group M&A Summary

Principal Financial Group has acquired 8 companies, including 2 in the last 5 years.

Principal Financial Group’s largest acquisition to date was in 2012, when it acquired AFP Cuprum S.A. for $1.5B. Principal Financial Group has acquired in 3 different US states, and 4 countries. The Company’s most targeted sectors include insurance (63%) and financial services (13%).

Principal Financial Group Business Overview

Where is Principal Financial Group headquartered?

Principal Financial Group is headquartered in Des Moines, Iowa.

What is Principal Financial Group’s revenue?

Principal Financial Group disclosed revenue of 13,665M USD for 2023 and 17,492M USD for 2022.

How many employees does Principal Financial Group have?

Principal Financial Group has 17,400 employees.

What sector is Principal Financial Group in?

Principal Financial Group is an insurance company.

When was Principal Financial Group founded?

Principal Financial Group was founded in 1879.

M&A Summary

  • M&A Total Activity8
    • M&A Buy Activity8
  • Total Sectors Invested 4
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 6
  • M&A Advisors 4

Principal Financial Group

Principal Financial Group, Inc.

711 High Street,
Des Moines, Iowa 50392
United States,
(515) 247-5111
www.principal.com

Principal Financial Group is a global investment management company offering retirement services, insurance solutions and asset management to a variety of corporate and invidudal clients. Principal Financial Group was founded in 1879 and is based in Des Moines, Iowa.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 7 - - - - 1 8
vol $2.7B $2.7B
Sell (0.0/yr) # - - - - - - 0
  8

Most Recent M&A

Company Date Value Type
Ascensus - ESOP Business 2024-05-16 - Divestiture
Dresher, Pennsylvania
Wells Fargo & Co. - Institutional Retirement & Trust Business 2019-04-09 1.2B USD Divestiture
San Francisco, California
RobustWealth 2018-05-30 - Add-on Acquisition
Lambertville, New Jersey · www.robustwealth.com
Metlife Afore, S.A. De C.V. 2017-10-26 - Divestiture
Mexico, Mexico · www.metlifeafore.com.mx
AXA - Occupational Retirement Schemes Ordinance (ORSO) 2015-09-01 - Divestiture
, China
AXA - Mandatory Provident Fund (MPF) 2015-09-01 - Divestiture
, China
AFP Cuprum S.A. 2012-10-08 1.5B USD Divestiture
Santiago,, Chile · www.cuprum.cl
First Dental Health 2012-08-13 - Add-on Acquisition
San Diego, California · www.firstdentalhealth.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Principal Global Investors, LLC    - Post Advisory Group, LLC 2013-04-01 1
Des Moines, Iowa · www.principalglobal.com Santa Monica, California · www.postadvisory.com
Principal Financial Group, S.A. de C.V., Grupo Financiero    - HSBC Afore, S.A. de C.V. 2011-04-11 1
Mexico City, Mexico Ciudad De Mexico,, Mexico · www.hsbc.com.mx/1/2/es/personas/afore

M&A by Sector

Sector Buy # Value Sell # Value
Insurance 5 (63%) 1.2B (44%) - -
Financial Services 1 (13%) 1.5B (56%) - -
Healthcare Services 1 (13%) - - -
Information Technology 1 (13%) - - -
Total 8 $2.7B - -

By Geo

State/Country Buy Value Sell Value
United States 4 1.2B - -
  California 2 1.2B - -
  Pennsylvania 1 - - -
  New Jersey 1 - - -
China 2 - - -
Chile 1 1.5B - -
Mexico 1 - - -
Domestic 4 (50%) 1.2B (44%) - -
Cross-border 4 (50%) 1.5B (56%) - -
Total 8 $2.7B - -

Top M&A Advisors

Financial Deals
Lazard Ltd.
 2
Legal Deals
Debevoise & Plimpton
 2
Skadden, Arps, Slate, Meagher & Flom
 1
Cariola Diez Perez-Cotapos & Cia.
 1

Deal Values

buy # Total
> $1B 2 $2.7B
TOTAL $2.7B
Largest AFP Cuprum S.A.
$1.5B (2012-10-08)

M&A Connections

Deals
Acquired from
Strategic(s)
75%
6 (75%)

Company Summary

SECTOR

Insurance

Revenue

13,665   22% 2023
17,492   23% 2022
14,263   4% 2021
14,742   10% 2020
16,222   14% 2019
14,237   2% 2018
14,093   14% 2017
12,394   4% 2016
11,964   15% 2015
10,478   13% 2014
9,289   1% 2013
9,215   2012
(millions of USD) Show More Show Less

Employees

17,400

Established

1879

Public

NASDAQ: PFG

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