Principal Financial Group Inc was founded in 1879. The Company is an investment management company that offers businesses, individuals and institutional client's financial products and services, including retirement, asset management and insurance through its financial services companies. The company provides financial products and services through the following segments: Retirement and Income Solutions, Principal Global Investors, Principal International and U.S. Insurance Solutions. In addition, it also has a Corporate segment. The Retirement and Income Solutions segment provides retirement and related financial products and services to businesses, their employees and other individuals. The Principal Global Investors segment provides asset management services to asset accumulation business, insurance operations, the Corporate segment and third party clients. This segment also includes its mutual fund business. The Principal International segment has operations in Brazil, Chile, China, Hong Kong Special Administrative Region, India, Mexico and Southeast Asia. It focuses on countries with large middle classes, favorable demographics and growing long-term savings, with defined contribution markets. The U.S. Insurance Solutions segment provides specialty benefits insurance, which consists of group dental and vision insurance, individual and group disability insurance, group life insurance and non-medical fee-for-service claims administration, and individual life insurance throughout the United States. The Corporate segment manages the assets representing capital that has not been allocated to any other segment. The Company competes with a number of financial services companies such as banks, mutual funds, broker-dealers, insurers and asset managers. Its businesses are subject to regulation and supervision by U.S. federal and state regulatory authorities as well as non-U.S. regulatory authorities for operations outside the U.S., which can has an effect on the business.
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