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Our history

Over the past 136 years, Securian has seen a lot of change – but throughout our history, we have a proven track record of developing innovative products, offering outstanding service and putting our customers’ needs first.

1880

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

1901

To continue our growth and keep up with the times, we change our structure to a mutual life insurance company. The new name, Minnesota Mutual Life Insurance Company – a name we keep for almost a century – reflects this change.

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.

1930

Minnesota Mutual Life develops its first pension plan – a plan we still service today.

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.

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 – the forerunner of Advantus Capital Management – 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.

1988

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

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.

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.

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.

2005

We adopt Securian as our enterprise brand.

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.

2015

Chris Hilger becomes CEO.

2016

We serve nearly 16 million customers, have more than $65 billion of assets under management, protect our customers with more than $1.15 trillion of insurance in force and employ more than 5,000 associates and representatives nationwide.1

 

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 affiliate. Data as of December 31, 2015 unless otherwise noted.