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February 09, 2016

Securian delivers another year of strong growth

Revenue, insurance in force, assets under management, capital all increase; earnings nearly match last year’s company record 

ST. PAUL, Minn.--(BUSINESS WIRE)--Securian Financial Group generated strong financial results again in 2015, with revenue increasing 9 percent and performance on all key metrics exceeding or nearly matching last year’s record results.

“Securian had another very strong year,” said Chris Hilger, Securian’s president and CEO. “Through solid performances by our diverse businesses and outstanding client retention, we delivered smart growth and built capabilities for the future while maintaining our financial strength.”

Performance on Key Metrics

  • Top-line revenue increased 9 percent to $4.2 billion. Over the past four years, Securian’s revenue has increased at an 11 percent compound annual growth rate.
  • Insurance in force—the financial protection Securian provides to its clients—increased 7 percent to $1.15 trillion.
  • Assets under management increased 2 percent to $64.4 billion.
  • Insurance sales were $1.1 billion, matching 2014’s results.
  • Annuity sales, which include annuities sold to individuals and retirement plans sold to employers, increased 10 percent to $1.6 billion.
  • Statutory capital increased 5 percent to $3 billion, maintaining a capital level considered excellent by rating agencies.
  • Earnings were $273 million, nearly matching last year’s company record of $279 million.

“Most importantly, we fulfilled our ultimate purpose through the benefits paid to individuals, families and businesses when they needed them most,” said Hilger. “In 2015, we paid more than $4.6 billion in benefits—providing financial security to the almost 16 million customers who count on us.”

Enterprise Highlights

  • All Securian business lines retained 90 percent or more of their clients.
  • Fitch upgraded the ratings of Securian’s insurance company affiliates—Minnesota Life and Securian Life—to AA (from AA-) with a stable outlook, citing Securian’s strong balance sheet fundamentals and conservative risk profile.*
  • Standard & Poor’s revised the outlook for Securian’s insurance companies to positive (from stable) and affirmed its “Strong” rating, citing Securian’s increasingly stable and diversified earnings profile and growing contributions from strategic affiliates.*

Profit Sharing for Employees

For the 42nd consecutive year, Securian will make a profit sharing contribution to employees’ retirement accounts. The company’s contribution rate for its 2015 results will be 6.5 percent of annual salary. Employees receive the company contribution regardless of whether they make a contribution themselves, and they have the option to take half of it in cash. As of the end of 2015, Securian employed 4,360 associates nationwide (up 4.7 percent over 2014), including 2,610 at its headquarters in St. Paul (up 3.1 percent over 2014). Securian retained over 94 percent of its employees in 2015.

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.

*For more information about the rating agencies and Securian’s ratings, visit www.securian.com/ratings.

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Contact Info

Jeff Bakken

Media Relations