信安金融 2025年二季度报告

Principal Financial Group, Inc. Reportable Segments PRINCIPAL A SSETMANAGEMENT BENEFITS ANDPROTEC TION RETIREMENT ANDINCOME SOLUTIONS CORP ORATE Provides global investment solutions toinstitutional, retirement, retail, and highnet worth investors in the U.S. andselect emerging markets. This segmentis organized into: Manages the assets representingcapital that has not been allocatedto any other segment. Financial resultsof the Corporate segment primarilyreflect our financing activities(including financing costs), incomeon capital not allocated to othersegments, inter segment eliminations,income tax risks and certain income,expenses and other adjustments notallocated to the segments based onthe nature of such items. Results ofPrincipal Securities, Inc., our retailbroker-dealer and registeredinvestment advisor; and our exitedgroup medical and long-term careinsurance businesses are reported inthis segment. Provides retirement and relatedfinancial products and servicesprimarily to businesses, theiremployees, and other individualsincluding full service accumulation,banking, trust and custodial services,individual variable annuities, pensionrisk transfer, investment only, individualfixed annuities, and all of theInstitutional Retirement & Trust (IRT)integration and acquisition expenses. Focuses on solutions for individualsand small-to-medium sized businessesand their employees. The segment isorganized into: •Specialty Benefits, provides groupdental and vision insurance,individual disability insurance, groupdisability insurance (includingshort-term disability, long-termdisability, critical illness, paid familyand medical leave and accident),group life insurance and non-medical fee-for-service claimsadministration; and •Investment Management,providespublic, multi-asset, and privatemarket capabilities across all assetclasses, including equity, fixedincome, real estate and alternatives,to serve a breadth of clientinvestment objectives. •International Pension,provideslong-term savings and retirementsolutions in Asia and Latin America.Products include pensionaccumulation and income annuities. •Life Insurance, provides universaland variable universal life insurance(including indexed universal life) andtraditional life insurance (includingparticipating whole life, adjustablelife products and non-participatingterm life insurance). Legacy lifeinsurance includes universal andvariable universal life insurance(including indexed universal life andall universal life with secondaryguarantee (ULSG) businessreinsured to third party) andtraditional life insurance (includingparticipating whole life, adjustablelife products and non-participatingterm life insurance). Principal Financial Group, Inc.Table of Contents Definitions Summary Market and Financial HighlightsPrincipal Financial Group, Inc. Consolidated Financial Information Consolidated U.S. GAAP Income Statement and Reconciliation to Non-GAAP Pre-Tax Operating EarningsConsolidated Financial MetricsConsolidated Balance Sheet Retirement and Income Solutions Retirement and Income Solutions Segment Pre-Tax Operating Earnings StatementRetirement and Income Solutions Segment Metrics Principal Asset Management Principal Asset Management Segment Pre-Tax Operating Earnings StatementsPrincipal Asset Management Segment Assets Under ManagementInv estment Management - Assets Under Management and Rev enue DetailInternational Pension - Assets Under Management Detail Benefits and Protection Benefits and Protection Segment Pre-Tax Operating Earnings StatementsBenefits and Protection - Specialty BenefitsBenefits and Protection - Life Insurance Corporate Corporate Segment Pre-Tax Operating Earnings StatementInvestment Details Inv ested Asset DetailsNet Realized Capital Gains (Losses) and Net Inv estment IncomeDetail of Funds Withheld Non-GAAP Financial Measure Reconciliations Exited Business Use of non-GAAP financial measuresA non-GAAP financial measure is defined as a numerical measure of our performance, financial position, or cash flows that includes adjustments from a comparable financial measure presented in accordance We use a number of non-GAAP financial measures that management believes are useful to investors because they illustrate the performance of our normal, ongoing operations, which is important in understanding and evaluating ourfinancial condition and results of operations. While such measures are also consistentwith measures utilized by investors to evaluate performance, they are not a ooing operationsubstitute for U.S. GAAP financial measures. Therefore, we have provided reconciliations of the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures. See“NonGAAP Financial Measures Reconciliations” located on pages 2631. We adjust U.S. GAAP financial measures for items not directly relateadjusting items have occurred in the past and could recur in the future. Managementuses non-GAAP financial measures for goal settin