Principal Financial to exit some businesses after strategic review

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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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