The company also reported assets under management of $635B, which is included in assets under administration of $1.5T. "2022 was a transformative year for Principal. Guided by a clear strategy, we made meaningful progress towards our goals," said Dan Houston, CEO of Principal. "With continued focus on higher growth markets and improved capital efficiency, we generated over $1.7 billion of non-GAAP operating earnings for the full year 2022, including $422 million in the fourth quarter, driving strong total shareholder return. We returned approximately $2.3 billion to shareholders in 2022, delivering on our commitment to return our excess capital. We remain in a strong financial position with the financial flexibility, discipline, and experience to manage through continued macroeconomic uncertainty. We continue to transform our company to deliver even greater value to our customers and shareholders. We have de-risked our portfolio, reduced our balance sheet risk, and our business is less capital intensive. With a sharpened focus on higher growth markets and segments, we’re investing in our businesses that leverage our competitive advantages, while returning more capital to our shareholders."
Published first on TheFly
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