{"id":842269,"date":"2025-04-25T14:46:04","date_gmt":"2025-04-25T18:46:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/"},"modified":"2025-04-25T14:46:04","modified_gmt":"2025-04-25T18:46:04","slug":"am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/","title":{"rendered":"AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries<\/b><\/p>\n<p>OLDWICK, N.J.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>AM Best <\/b>has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of \u201caa\u201d (Superior) of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) [NASDAQ: PFG] and collectively referred to as Principal. Concurrently, AM Best has affirmed the Long-Term ICRs of \u201ca\u201d (Excellent) of Principal Financial Services, Inc. and PFG, as well as the group\u2019s Long-Term Issue Credit Ratings (Long-Term IRs). In addition, AM Best has affirmed the group\u2019s Short-Term Issue Credit Rating (Short-Term IR). The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the Long- and Short-Term IRs.) All companies are headquartered in Des Moines, IA.\n<\/p>\n<p>\nThe ratings reflect Principal\u2019s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and very strong enterprise risk management.\n<\/p>\n<p>\nAM Best views Principal\u2019s risk-adjusted capitalization as strong, as measured by Best\u2019s Capital Adequacy Ratio (BCAR), although capital growth has been limited by dividends to the parent company. The group lowered its product risk with reinsurance in 2022, ceding its in-force retail fixed annuity and universal life insurance with secondary guarantee blocks, shifting its focus more toward fee-based products. The balance sheet strength assessment also benefits from historically favorable financial flexibility, strong liquidity profiles and significant excess capital and access to capital markets at the holding company level. AM Best\u2019s favorable view of the group\u2019s capital is offset somewhat by Principal\u2019s higher allocations to commercial mortgages in comparison with the group\u2019s peers and usage of its captive reinsurers.\n<\/p>\n<p>\nPrincipal has reported favorable profitability metrics consistently, benefiting from its diverse lines of business, distribution channels and leading market positions across a range of product lines. An increasing presence internationally provides additional earnings diversity. However, AM Best notes that political and macroeconomic risks in Principal\u2019s key international markets could impact the holding company going forward.\n<\/p>\n<p>\nPrincipal has demonstrated strong risk management capabilities through continued enhancements to its risk modeling and stress-testing capabilities to support its overall business strategy.\n<\/p>\n<p>\nThe following Long-Term IR has been assigned with a stable outlook:\n<\/p>\n<p>\nPrincipal Financial Group, Inc.\u2014\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $400 million 4.111% senior unsecured notes, due 2028\n<\/p>\n<p>\nThe following Long-Term IRs have been affirmed with stable outlooks:\n<\/p>\n<p>\nPrincipal Financial Group, Inc.\u2014\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $400 million 3.40% senior unsecured notes, due 2025\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $350 million 3.1% senior unsecured notes, due 2026\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $500 million 3.70% senior unsecured notes, due 2029\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $600 million 2.125% senior secured notes, due 2030\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $505.6 million 6.05% senior unsecured notes, due 2036\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $400 million 5.375% senior unsecured notes, due 2033\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $300 million 4.625% senior unsecured notes, due 2042\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $300 million 4.35% senior unsecured notes, due 2043\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $300 million 4.30% senior unsecured notes, due 2046\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on $300 million 5.5% senior unsecured notes, due 2053\n<\/p>\n<p>\nPrincipal Life Global Funding I\u2014 \u201caa\u201d (Superior) on program rating\n<\/p>\n<p>\n&#8212; \u201caa\u201d (Superior) on all outstanding notes issued under the program\n<\/p>\n<p>\nPrincipal Life Global Funding II\u2014 \u201caa\u201d (Superior) on program rating\n<\/p>\n<p>\n&#8212; \u201caa\u201d (Superior) on all outstanding notes issued under the program\n<\/p>\n<p>\nPrincipal Financial Global Funding, LLC\u2014 \u201caa\u201d (Superior) on program rating\n<\/p>\n<p>\n&#8212; \u201caa\u201d (Superior) on all outstanding notes issued under the program\n<\/p>\n<p>\nPrincipal Financial Global Funding II LLC\u2014 \u201caa\u201d (Superior) on program rating\n<\/p>\n<p>\nPrincipal Life Income Funding Trusts\u2014 \u201caa\u201d (Superior) on program rating\n<\/p>\n<p>\nThe following Short-Term IR has been affirmed:\n<\/p>\n<p>\nPrincipal Life Insurance Company\u2014\n<\/p>\n<p>\n&#8212; AMB-1+ (Strongest) commercial paper rating\n<\/p>\n<p>\nThe following indicative Long-Term IRs on securities available under universal shelf registration have been affirmed with stable outlooks:\n<\/p>\n<p>\nPrincipal Financial Group, Inc.\u2014\n<\/p>\n<p>\n&#8212; \u201ca\u201d (Excellent) on senior unsecured debt\n<\/p>\n<p>\n&#8212; \u201ca-\u201d (Excellent) on subordinated debt\n<\/p>\n<p>\n&#8212; \u201cbbb+\u201d (Good) on preferred stock\n<\/p>\n<p>\nPrincipal Capital I, II and III\u2014\n<\/p>\n<p>\n&#8212; \u201caa\u201d (Superior) on preferred securities\n<\/p>\n<p><b>This press release relates to Credit Ratings that have been published on AM Best\u2019s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best\u2019s <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fratings.ambest.com%2Fratingeventdisclosures.aspx&amp;esheet=54244068&amp;newsitemid=20250425113798&amp;lan=en-US&amp;anchor=Recent+Rating+Activity&amp;index=1&amp;md5=b942faab7970f7516b496363a42a656c\"><b>Recent Rating Activity<\/b><\/a><b> web page. For additional information regarding the use and limitations of Credit Rating opinions, please view <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww3.ambest.com%2Fambv%2Fratingmethodology%2FOpenPDF.aspx%3Fri%3D1787&amp;esheet=54244068&amp;newsitemid=20250425113798&amp;lan=en-US&amp;anchor=Guide+to+Best%27s+Credit+Ratings&amp;index=2&amp;md5=026c8f00cffe9c9b50619166bf82ccec\"><b>Guide to Best&#8217;s Credit Ratings<\/b><\/a><b>. For information on the proper use of Best\u2019s Credit Ratings, Best\u2019s Performance Assessments, Best\u2019s Preliminary Credit Assessments and AM Best press releases, please view <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.ambest.com%2Fratings%2Fguidetouse.pdf&amp;esheet=54244068&amp;newsitemid=20250425113798&amp;lan=en-US&amp;anchor=Guide+to+Proper+Use+of+Best%26%238217%3Bs+Ratings+%26amp%3B+Assessments&amp;index=3&amp;md5=f218dac52f605c4df2c66d9b81f33bc9\"><b>Guide to Proper Use of Best\u2019s Ratings &amp; Assessments<\/b><\/a><b>.<\/b><\/p>\n<p><b>AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 <\/b><b>countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ambest.com%2F&amp;esheet=54244068&amp;newsitemid=20250425113798&amp;lan=en-US&amp;anchor=www.ambest.com&amp;index=4&amp;md5=f31f47a57ab844ab5df12361a1344616\"><b>www.ambest.com<\/b><\/a><b>.<\/b><\/p>\n<p class=\"bwalignc\"><b>Copyright \u00a9 2025 by A.M. Best Rating Services, Inc. and\/or its affiliates. ALL RIGHTS RESERVED.<\/b><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250425113798r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250425113798\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250425113798\/en\/<\/a><\/span><\/p>\n<p><b>Louis Silvers<br \/>\n<\/b><br \/><b>Senior Financial Analyst<br \/>\n<\/b><br \/><b>+1 908 882 2316<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:louis.silvers@ambest.com\">louis.silvers@ambest.com<br \/>\n<\/a><\/p>\n<p><b>Michael Porcelli<br \/>\n<\/b><br \/><b>Senior Director<br \/>\n<\/b><br \/><b>+1 908 882 2250<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:michael.porcelli@ambest.com\">michael.porcelli@ambest.com<br \/>\n<\/a><\/p>\n<p><b>Christopher Sharkey<br \/>\n<\/b><br \/><b>Associate Director, Public Relations<br \/>\n<\/b><br \/><b>+1 908 882 2310<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:christopher.sharkey@ambest.com\">christopher.sharkey@ambest.com<br \/>\n<\/a><\/p>\n<p><b>Al Slavin<br \/>\n<\/b><br \/><b>Senior Public Relations Specialist<br \/>\n<\/b><br \/><b>+1 908 882 2318<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:al.slavin@ambest.com\">al.slavin@ambest.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Europe United States North America Iowa New Jersey<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Insurance Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250425113798\/en\/828829\/3\/AM_Best_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of \u201caa\u201d (Superior) of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) [NASDAQ: PFG] and collectively referred to as Principal. Concurrently, AM Best has affirmed the Long-Term ICRs of \u201ca\u201d (Excellent) of Principal Financial Services, Inc. and PFG, as well as the group\u2019s Long-Term Issue Credit Ratings (Long-Term IRs). In addition, AM Best has affirmed the group\u2019s Short-Term Issue Credit Rating (Short-Term IR). The outlook of these Credit Ratings (ratings) is stable. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-842269","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of \u201caa\u201d (Superior) of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) [NASDAQ: PFG] and collectively referred to as Principal. Concurrently, AM Best has affirmed the Long-Term ICRs of \u201ca\u201d (Excellent) of Principal Financial Services, Inc. and PFG, as well as the group\u2019s Long-Term Issue Credit Ratings (Long-Term IRs). In addition, AM Best has affirmed the group\u2019s Short-Term Issue Credit Rating (Short-Term IR). 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/","og_locale":"en_US","og_type":"article","og_title":"AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries - Market Newsdesk","og_description":"AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of \u201caa\u201d (Superior) of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) [NASDAQ: PFG] and collectively referred to as Principal. Concurrently, AM Best has affirmed the Long-Term ICRs of \u201ca\u201d (Excellent) of Principal Financial Services, Inc. and PFG, as well as the group\u2019s Long-Term Issue Credit Ratings (Long-Term IRs). In addition, AM Best has affirmed the group\u2019s Short-Term Issue Credit Rating (Short-Term IR). The outlook of these Credit Ratings (ratings) is stable. &hellip; Continue reading \"AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/","og_site_name":"Market Newsdesk","article_published_time":"2025-04-25T18:46:04+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250425113798r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries","datePublished":"2025-04-25T18:46:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/"},"wordCount":918,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250425113798r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-principal-financial-group-inc-and-its-subsidiaries-3\/","name":"AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries - 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