What matters most.
What matters most to customers hasn’t changed. It’s how we help them achieve it that’s changing and driving the future. Theirs and ours.
Leading to new solutions that meet and engage them where they are – and where they’re going. That move and inspire them to take greater control of their financial futures. And that enable us to reach millions of new customers in growing middle-class markets around the world.
We invest in what matters most, so we can deliver what matters most to our customers and shareholders.
2017 was a very good year for Principal.
We delivered record results and double-digit growth, with $2.3 billion in net income available to common stockholders and $1.5 billion in non-GAAP operating earnings.
Strong asset appreciation combined with solid net cash flows enabled us to increase assets under management by $77 billion, or 13 percent, to a record $669 billion at year-end.
We remain pleased with our investment performance, with more than 80 percent of our options1 in the top two Morningstar quartiles for the five-year period, including more than 50 percent in the top quartile.
We continued to make meaningful investments across our businesses to expand and enhance our customer solution set, broaden distribution, and improve the customer experience, positioning Principal for future growth and success.
During the year, we also committed $180 million to acquisitions2 and returned more than $730 million to shareholders through common stock dividends and buybacks, reflecting strong capital generation and balanced deployment.
1 Principal actively managed mutual funds, exchange traded funds, insurance separate accounts, and collective investment trusts. Based on performance as of Dec. 31, 2017.
2 Includes increasing our ownership stake in prior acquisitions.