Operator
Good morning, and welcome to the Principal Financial Group s Second Quarter Financial Results Conference Call. [Operator Instructions]
I would now like to turn the conference call over to John Egan, Vice President of Investor Relations.
John Egan
Vice President of Investor Relations
Thank you, and good morning. Welcome to Principal Financial Group s Second Quarter 2021 Conference Call. As always, materials related to today s call are available on our website at principal.com/investor. Following the reading of the safe harbor provision, CEO, Dan Houston; and CFO, Deanna Strable, will deliver some prepared remarks, then we will open up the call for questions. Available for the Q&A session include: Renee Schaaf, Retirement and Income Solutions; Pat Halter, Global Asset Management; and Amy Friedrich, U.S. Insurance Solutions.
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Almardi Abdalla, vice president of family and workforce programs, Oakridge Neighborhood Services Despite our dark history and philosophical differences on how to move this great nation forward, the beacon of hope and a place where dreams can come true. We are not perfect by any measure, but unlike many other nations, we are willing to confront our challenges and work our way toward becoming a more perfect union. This is the belief of many immigrant families who left their homelands seeking a new life in America. As a first-generation immigrant, I can attest to that fact. I have been fortunate to get a piece of the American dream, but my journey was anything but easy. Throughout, I experienced all types of setbacks and challenges. So much so, I started to believe that the American dream was not designed for peop
Principal Financial reported a strong quarter amid pandemic losses.
COVID-19 claims continued to bite into earnings at Principal Financial, but the Des Moines, Iowa-based insurer rebounded with growth in other sectors.
The company hosted analysts today for a first-quarter earnings call review of the numbers. Principal reported higher revenues across most of its business lines, lower expenses and higher assets under management (AUM).
Operating revenues declined nearly 30% year over year to $3.1 billion due to lower premiums and other considerations. Total expenses decreased 38.6% year over year to $2.6 billion due to lower benefits, claims and settlement expenses, dividends to policyholders as well as operating expenses.
Principal Financial Group Inc (PFG) Q1 2021 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Principal Financial Group Inc (NASDAQ: PFG)
Q1 2021 Earnings Call
Operator
Good morning, and welcome to the Principal Financial Group First Quarter 2021 financial results conference call. There will be a question and answer period after the speakers have completed their prepared remarks. [Operator Instructions] I would now like to turn the conference over to John Egan, Vice President of Investor Relations.SPONSORED:
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