Principal Financial to exit some businesses after strategic review


Dan Houston, CEO of Principal Financial Group, speaks during the Milken Institute’s 22nd annual Global Conference in Beverly Hills, California, April 29, 2019. REUTERS/Mike Blake/File Photo

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BOSTON, June 28 (Reuters) – Principal Financial Group Inc (PFG.O) said on Monday it will stop selling U.S. retail fixed annuities and consumer life-insurance products, explore sales of those businesses and buy back more stock after conducting a months-long strategic review.

The Des Moines, Iowa-based investment management and insurance company said the steps would help it focus its portfolio, create a stronger capital management strategy and help its share price…

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