Principal Financial Group, Inc. (NASDAQ:PFG) Q4 2023 Earnings Conference Call February 13, 2024 10:00 AM ET

Company Participants

Humphrey Lee - Vice President of Investor Relations

Dan Houston - Chief Executive Officer

Deanna Strable - Chief Financial Officer

Patrick Halter - Division President, Principal Asset Management

Kamal Bhatia - President and CEO, Principal Asset Management

Chris Littlefield - President, Retirement and Income Solutions

Amy Friedrich - President, U.S. Insurance Solutions

Conference Call Participants

Joel Hurwitz - Dowling & Partners

Ryan Krueger - KBW

Suneet Kamath - Jefferies

John Barnidge - Piper Sandler

Tom Gallagher - Evercore ISI

Jimmy Bhullar - J.P. Morgan

Alex Scott - Goldman Sachs

Josh Shanker - Bank of America

Operator

Good morning. And welcome to the Principal Financial Group Fourth Quarter 2023 Financial Results and 2024 Outlook 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 call over to Humphrey Lee, Vice President of Investor Relations.

Humphrey Lee

Thank you and good morning. Welcome to Principal Financial Group’s fourth quarter and fourth year 2023 earnings and 2024 outlook conference call. As always, materials related to today’s call are available on our website at investors.principal.com.

Following a reading of the Safe Harbor provision, CEO, Dan Houston; and CFO, Deanna Strable will deliver some prepared remarks. We will then open up the call for questions. Other members of senior management will also be available for Q&A.

Some of the comments made during this conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. The company does not revise or update them to reflect new information, subsequent events or changes in strategy.

Risks and uncertainties that could cause actual results to differ materially from those expressed or implied are discussed in the company’s most recent annual report on Form 10-K filed by the company with the U.S. Securities and Exchange Commission.

Additionally, some of the comments made during this conference call may refer to non-GAAP financial measures. Reconciliation of the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures may be found in our earnings release, financial supplement and slide presentation. We are planning to host our 2024 Investor Day on Monday, November 18th in New York and look forward to seeing many of you over the coming months. Dan?

Dan Houston

Thanks, Humphrey, and welcome to everyone on the call. This morning I will discuss key milestones and highlights from the fourth quarter and full year 2023 as we continue to execute our strategy with discipline and focus, and deliver strong results for our customers and shareholders. Deanna will follow with additional details of our results, the investment portfolio, our capital position, as well as our 2024 outlook.