The Des Moines-based financial services company Principal Financial Group is projecting steady growth during 2017. The expectations follow a pattern of revenue increases the company has seen over the past several years.
The international division at Principal is anticipating the most revenue growth over the next year with projections of an 11-to-14 percent increase. In recent years, the company has become the second largest provider of pension-income in Latin America, and has partnered with Chinese interests to become the tenth largest funds company there. Principal C-E-O Dan Houston says he’s looking forward to 2017 and plans to build on the company’s past success.
“The environment certainly presents challenges," he says, "and yet more than at any other time in our company’s history, we face these challenges from a position of strength.”
Principal’s assets have grown by 11 percent since 2010, and its revenue by eight percent. Houston says there’s still a large worldwide market to tap into.
“Too many workers remain under-saved and under-insured," he says, "and we will continue to play an important role in changing this.”
Principal is projecting a net revenue increase of between five-and-ten percent for its retirement and income solutions division over the upcoming year. It says growth in its global investors unit will be between four-and-eight percent. Houston says it has set aside $2.4 billion for strategic acquisitions since 2010. It has paid out $2 billion in stock dividends to shareholders. The company now has clients in 70 countries.