Principal Financial Group reported adjusted operating earnings of $2.49 per diluted share for the third quarter 2026, representing a 7% year-over-year increase. The company's performance was bolstered by a 6% increase in specialty benefits premiums and a strong 59% loss ratio, while total assets under management held steady at $785 billion despite institutional net cash outflows.

Key Highlights

  • Non-GAAP operating EPS of $2.49 beat the $2.46 analyst consensus, supported by improved mortality experience in Life Insurance.
  • Assets under management (AUM) reached $785.0 billion, though the segment experienced $10.7 billion in net cash outflows during the quarter.
  • Specialty Benefits premiums and fees grew 6% to $895.4 million, while underwriting results remained favorable with a loss ratio below the targeted 60-64% range.
  • Capital returns totaled $429 million for the quarter, and the common stock dividend was raised to $0.85 per share for the fourth quarter.