Page 4 - Securian Financial - 2020 Annual Report
P. 4

LETTER FROM THE CEO
Securian Financial’s purpose was on full display in 2020.
The worst pandemic in a century highlighted the importance of the peace of mind we provide our customers and their families. As the significance of COVID-19 became evident, we embraced three crisis management principles shaped by our purpose — helping people build secure tomorrows — that informed the actions we took throughout an extraordinary year.
Take care of the people who count on us
We were there for our customers and their families when they needed us the most — providing important financial protection (including $275 million in death benefits related to COVID-19) and compassionate service. Our hearts go out to those who lost loved ones due to the pandemic.
We also supported our employees and distribution partners as they balanced work obligations with the realities of caring for themselves and their families. And we increased our community giving by 25 percent to help soften the impact of the pandemic and other crises on the places we call home.
Protect our financial strength
Taking care of the people who count on us requires more than just good intentions — our purpose is realized through our financial strength — ensuring we will be able to fulfill our promises over generations.
While ultra-low interest rates and the additional death benefits we paid due to COVID-19 impacted our earnings, we continued to build the long-term financial performance potential of the company through strong revenue growth and solid sales results.
Our investment portfolio remains strong, and we increased our already excellent capital levels, retaining our position among the most highly rated insurance companies in the country.
Prepare for the future
Our outstanding financial strength gives us the resources to invest in the new capabilities and sources of growth we will need to thrive in the future.
We invested in the continued advancement of our multi-year technology transformation, with a particular focus on developing new digital, data and analytics capabilities. We prioritized elements of our strategic plan to reflect evolving customer expectations that were further accelerated by the pandemic.
We also continued to pursue acquisitions that support our diverse portfolio of businesses, including completing the acquisition of Gerber Life’s Canadian business and the integration of Empyrean Benefit Solutions.
These three crisis principles also informed our corporate social responsibility actions in 2020, most notably our public commitment to be part of the solution to social injustice in the wake of George Floyd’s death just 10 miles from our headquarters. This commitment extended to the Securian Financial Foundation, where we expanded our grant-making parameters to include an explicit commitment to diversity, equity and inclusion.
Optimism and resolve
In 2020, Securian Financial stepped up to meet challenges with a long-term view on how we continue to deliver on our purpose. While our three crisis management principles brought clarity to our decision making, it was the professionalism and dedication of the entire Securian Financial family that ultimately made our success possible.
I am optimistic about our future and confident that we will emerge from the pandemic in an even stronger position to help future generations build secure tomorrows.
Thank you for the trust you place in us.
Christopher M. Hilger
Chairman, President and Chief Executive Officer
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