Principal Financial Announces Business Unit Outlook Metrics

(RTTNews) - Principal Financial Group Inc. (PFG) announced certain business unit outlook metrics and capital deployment plans for 2019 and updated long-term guidance.

Effective January 1, 2019, the company will be making changes to the allocation of certain compensation and other expenses and net investment income among the business units. These allocation changes are being made as a result of a global financial process improvement project, with no impact to total company financial results, Principal Financial said.

In Retirement & Income Solutions - Fee, net revenue is expected to be down 2 percent - increase 2 percent for 2019. It is expected that net revenue growth to be 1 percent to 5 percent for long term.