Sales, revenue, earnings, customer benefit payments, community giving
ST. PAUL, Minn.–(BUSINESS WIRE)–At its annual all-company meeting, Securian Financial announced solid
preliminary 2018 financial results, including year-over-year increases
in total sales, top-line revenue and earnings.
“In 2018, Securian Financial achieved strong financial performance while
significantly advancing our strategic priorities and increasing our
community commitment,” said Chris Hilger, Securian Financial’s chairman,
president and CEO. “Most importantly, we once again fulfilled our
purpose to help our customers protect their loved ones and prepare for
the future by paying $5.7 billion in statutory benefits.”
Performance on key metrics
- Insurance sales increased 5 percent to $1.3 billion
- Annuity sales were consistent with 2017 at $2.6 billion
- Top-line revenue1 increased 7 percent to $5.4 billion
Operating earnings increased 9 percent to $335 million due to strong
continued business growth and tax reform
Insurance in force—the financial protection Securian Financial
provides to its customers—increased 2 percent to more than $1.2
- Assets under management held steady at $78.5 billion
Capital remained at a level expected to be considered “AAA” by rating
Rating agency Standard & Poor’s upgraded Securian Financial’s rating
from A+ (Strong) to AA- (Very Strong), citing the company’s business
diversification, solid competitive positions in the group life and
indexed universal life insurance markets, strong capitalization,
customer retention and consistent GAAP operating performance. The
other three major rating agencies all affirmed Securian Financial’s
ratings in 2018.2
The company launched a new Securian Financial brand identity and
first-ever national television advertising campaign to raise awareness
and familiarity with customers and distributors, attract and retain
talent, and support future growth aspirations.
All insurance and annuity business lines achieved retention results of
92 percent or better, reflecting the value the company delivers.
Securian Financial’s contributions to the community from the Securian
Financial Foundation, in-kind donations, employee volunteerism and other
cash gifts totaled $6.1 million in 2018—a 22 percent increase over 2017
and another big step forward in the company’s five-year goal of doubling
its community giving to $9.4 million by 2021.
Profit sharing for employees
For the 45th consecutive year, Securian Financial will make a
profit sharing contribution to eligible employees’ retirement accounts.
The company’s contribution for its 2018 results will be 6.5 percent of
annual salary. All eligible employees receive a contribution, regardless
of whether or how much they contribute to their retirement plans
themselves. Securian Financial also maintains a fully-funded, 100
percent employer-paid pension plan, with employees vested in the pension
after five years of service. The company retained 94 percent of its
employees in 2018.
Per its usual annual cycle, Securian Financial expects to release its
2018 Annual Report, with audited GAAP financial information, in late
About Securian Financial
Financial, we’re here for family. And we’re here because of it.
We’re guided by our purpose: helping customers build secure tomorrows.
Since 1880, we’ve been building a uniquely diversified company that has
outlasted economic ups and downs while staying true to our customers.
We’re committed to the markets we serve, providing insurance, investment
and retirement solutions that give families the confidence to focus on
what’s truly valuable: banking memories with those who matter most.
1. Top-line revenue is Securian Financial’s primary management metric
for revenue and excludes certain non-recurring revenue.
2. Standard & Poor’s rating (fifth highest of 23 ratings). All ratings
information as of March 7, 2018. These ratings are assigned to the
following Securian Financial Group member companies: Minnesota Life
Insurance Company and Securian Life Insurance Company. To learn more
about Securian Financial’s strength and ratings, visit securian.com/ratings.
Securian Financial is the marketing name for Securian Financial Group,
Inc. and its affiliates. Insurance products are issued by its affiliated
insurance companies, including Minnesota Life Insurance Company and
Securian Life Insurance Company, a New York authorized insurer.
Minnesota Life is not an authorized New York insurer and does not do
insurance business in New York. Both companies are headquartered in St.
Paul, MN. Securities and investment advisory services offered through
Securian Financial Services, Inc., registered investment advisor, member
Jeff Bakken, Media Relations