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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.

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