“We ended 2013 with very strong results, posting both record total company operating earnings for the year and record assets under management. These results were particularly strong in light of continued macroeconomic volatility, demonstrating the strength of our global investment management strategy and our ability to focus and execute.
Looking ahead, we’ll continue to take advantage of opportunities created by changing global demographics by having the right strategy in the right markets at the right time to generate growth for years to come. We remain confident in the strength of our business mix and fundamentals, our long-term opportunities for growth and our experienced team’s ability to continue to successfully execute on the things they can control.”
— Larry D. Zimpleman, Chairman, President and CEO
Key Takeaways for Fourth Quarter 2013
- Record total company full-year operating earnings of $1.1 billion.
- Record AUM of $483.2 billion, up 20 percent compared to year-end 2012. Total company full-year net cash flows were $17.4 billion.
- Retirement and Investor Services Accumulation sales were $7.9 billion in the fourth quarter. Highlights include $3.0 billion for Full Service Accumulation (FSA), $4.1 billion for Principal Funds and $769.2 million for Individual Annuities. Full Service Accumulation recurring deposits were up 7 percent over the year ago quarter and up 12 percent on a trailing twelve month basis.
- Principal Global Investors had record assets under management of $292.1 billion, including net cash flows of $1.0 billion.
- Principal International reported record net cash flows of $2.7 billion and AUM of $104.5 billion (excluding $15.0 billion of AUM in our asset management joint venture in China, which is not reported in AUM), a 51 percent increase over the year ago quarter.
- U.S. Insurance Solutions premiums and fees were a record $2.4 billion.
- Paid a fourth quarter common stock dividend of $0.26 cents per share on Dec. 27, 2013, bringing the full-year 2013 to a record $0.98 cents per share, a 26 percent increase over full-year 2012.