Page 5 - Securian Financial - 2020 Annual Report

FINANCIAL AND INVESTMENT RESULTS
During 2020, Securian Financial navigated a challenging environment, but delivered solid financial results and growth within our risk appetite.
SALES2
($ BILLION)
Retirement products Insurance products
$3.1 $3.1
$2.5
2016 2017 2018
$4.3
REVENUE
($ BILLION) $6.9 $6.6
$6.1
$5.5
$4.8
ASSETS UNDER MANAGEMENT
5%
Assets under management increased by 5 percent
to $97.8 billion, driven by sales, retention and market performance.
EQUITY3
10%
Total GAAP equity increased 10 percent to $6.8 billion, driven by net income and increased net unrealized gains on investments.
OPERATING EARNINGS4
$116M
Operating earnings fell
to $116 million, reflecting COVID-19 related benefits to our policyholders.
Insurance sales, including group life insurance, individual life insurance and insurance products
sold through financial institutions and affinity organizations, were solid at $500 million. Retirement products — including 401(k) plans, individual annuities and pension risk transfers — had their second highest sales in company history, at $2.8 billion.
2019 2020
2016 2017 2018 2019 2020
GAAP revenue rose to $6.9 billion, driven by excellent retention and business growth across the markets
we serve.
$3.3
2. Sales generally represent annualized premiums, fund deposits and new asset deposits as applicable to specific products.
3. Equity represents total Securian Financial Group, Inc., and subsidiaries equity.
4. Operating earnings equal net income attributable to Securian Financial Group, Inc., and subsidiaries, less net realized investment gains (losses), net of taxes.
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