Securian Financial Group shatters records with 2013 results
All Securian businesses gained or maintained market share
ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial Group set several significant business records in 2013:
- Proprietary insurance sales rose 10 percent to $967 million.
- As of January 1, Securian provides more than $1 trillion of insurance coverage.
- Assets under management rose 15 percent to $42.1 billion.
- Top-line revenue rose 11.5 percent to $3.5 billion.
- Earnings rose seven percent to $226 million.
These results exceeded expectations, even when considering the strong equity market returns that benefited the entire insurance industry.
“We delivered where it matters most—providing protection and benefits to our customers,” said Bob Senkler, chairman and CEO, Securian Financial Group. “We provide long-term financial security, and in 2013 the record I am most proud of is the over $4 billion in benefits we paid to the people we serve when they needed us most.”
Keeping commitments through the decades
Speaking to more than 2,000 employees at Securian’s annual all-company meeting at the River Centre in downtown St. Paul, Senkler shared an anecdote about the company’s long-term commitments to customers. In 2013, Securian paid a claim on a life insurance policy purchased 87 years ago.
“In the decades since we issued that policy, this company has survived the Great Depression, World War II, 9-11, the 2008 financial crisis and the Great Recession,” said Senkler. “We remained financially strong through it all so that when our customers and their families needed us, we were there for them.” The company serves over 13 million customers in the United States and Puerto Rico.
Sales records broken throughout the company
Several of Securian’s business lines also broke records in 2013:
- Advantus Capital Management generated record sales of $1.6 billion.
- Individual life insurance sales set a record at $214 million.
- Individual annuity sales rose 57 percent to $936 million.
- The group life insurance unit exceeded its goal by nearly 50 percent with sales of $254 million.
- Securian’s financial institution group proprietary sales rose to $429 million.
“We stay true to the priorities that have guided our business decisions since we opened our doors in 1880 just a few blocks from here,” said Chris Hilger, president, Securian Financial Group. “We are committed to our customers and provide exceptional service. We manage risk carefully and stay focused on maintaining our long-term financial strength. That’s why we can deliver on commitments made to our customers nearly 90 years ago.”
Retirement plan profit sharing announced
In keeping with tradition, Senkler announced – amid loud and lengthy cheers -- that the company’s contribution to employees’ retirement savings accounts this year will be nine percent of annual salary. This is the fortieth consecutive year of Securian’s profit sharing.
About Securian Financial Group
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, Securian is the holding company parent of a group of companies that offer a broad range of financial services.