The Principal Financial Group Contributes to Chile Relief Efforts
March 9, 2010 (Des Moines, IA) - The Principal Financial Group® has announced a pledge of $131 million Chilean Pesos (approximately $250,000 USD), to relief efforts for Chile, following the devastating earthquake that struck on Feb. 27, 2010. The donation amount, relative to the company's 131-year history, will be made on behalf of The Principal®, Principal International, Inc.-Latin America, and its employees.
The Principal is making the donation through two organizations actively involved in the relief efforts, the Chilean Red Cross and Hogar de Cristo, a human services organization providing disaster relief in Chile.
"Giving back to our communities, especially in a time of need, is part of our core values at The Principal. A crisis only reinforces that commitment," said Larry Zimpleman, chairman, president and CEO, The Principal. "While we are pleased that all of our employees are safe, we know that many families have suffered losses. Our thoughts are with those affected by the disaster."
The Principal has had operations in Chile since 1995 and currently employs over 300 employees throughout the country.
"With the impact of this earthquake on the communities where our employees, customers and associates live and work, we wanted to offer assistance as soon as possible," said Norman Sorensen, president and CEO of Principal International, Inc., and president, International Asset Management and Accumulation, The Principal. "Our offices in Chile are operational and our employees are actively monitoring the situation and will continue to look for additional ways that we can help with relief efforts."
About the Principal Financial Group
The Principal Financial Group® (The Principal®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $284.7 billion in assets under management and serves some 18.9 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.