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Securian Financial

Our history

Securian Financial has been protecting families for nearly 140 years. As our company has grown and evolved, we’ve never lost sight of those who depend on us.

First life insurance policy First life insurance policy

1880

Our founding

Russell Dorr founds the Bankers Association of Minnesota on August 6, the first life insurance company in Minnesota.

Fire and Marine building Fire and Marine building

1901

We restructure into a mutual life insurance company and adopt a new name — Minnesota Mutual Life Insurance Company — that we keep for almost a century.

Minnesota Mutual group life insurance policy Minnesota Mutual group life insurance policy

1917

Minnesota Mutual Life issues its first group life insurance policy. Mrs. A. J. Serviss of the Twin City Agency becomes the first woman to join the ranks of our top sales producers after selling the policy.

Group of people from 1930 Group of people from 1930

1930

Minnesota Mutual Life develops its first pension plan.

Our first IBM computer Our first IBM computer

1956

We make our first serious investment in technology when we order our first computer system, which occupied 1,000 square feet of space within our new headquarters at 345 Cedar Street.

1959

We begin offering low cost loan protection through savings and loan associations, laying the foundation for the broad array of products and services we provide the credit union market today.

Corner of Adjustable Life ad Corner of Adjustable Life ad

1971

We introduce the first flexible life insurance policy — Adjustable Life — a single policy that can be adjusted to meet financial needs throughout all stages of life.

1984

We create an asset management subsidiary and establish our broker-dealer, Securian Financial Services, Inc.

We begin providing 401(k) plans, the fastest growing employee benefit in the country at the time.

Variable Life brochures on a table Variable Life brochures on a table

1988

Variable life and annuity product launches offer a range of investment options, placing us at the forefront of the variable product revolution.

Robert Senkler Robert Senkler

1994

Bob Senkler begins his successful 20-year run as CEO.

Minnesota Mutual develops its Variable Group Universal Life (VGUL) product, offering investment flexibility previously unavailable in group plans.

Minnesota Life logo on building background Minnesota Life logo on building background

1998

We adopt a mutual holding company structure and the Minnesota Life brand.

We launch our first transactional website, LifeBenefits.com, to streamline and simplify enrollment for group insurance products in the large employer market.

Securian logo Securian logo

2001

We introduce the Securian brand.

Allied Solutions logo Allied Solutions logo

2004

Securian acquires Allied Solutions, one of the largest distributors of products in the credit union market, and significantly broadens our market presence and product offerings.

AAM logo AAM logo

2014

Securian acquires a majority stake in Asset Allocation & Management Company (AAM), more than tripling the assets we manage for outside insurance companies.

Insurance in force surpasses $1 trillion.

Chris Hilger Chris Hilger

2015

Chris Hilger becomes CEO.

2017

Securian expands into Canada through the acquisition of Canadian Premier Life Insurance Company and its affiliates, Legacy General Insurance Company, CRI Canada and Selient.

2019

Acquired Empyrean Benefit Solutions, a benefits administration and technology company, to expand our offerings in the employee benefits market.

1. Securian Financial Group, Inc. is the parent corporation of Minnesota Life Insurance Company and Securian Life Insurance Company, a New York authorized insurer. Certain financial highlights are presented at the parent level only. Assets under management includes an acquired majority interest in Asset Allocation & Management Company (AAM), a Securian Financial affiliate.

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