For the second time, ICMIF member Securian Financial (USA) was named to Fortune’s annual ranking of America’s largest companies, listed at 455.
“We are proud to return to this prestigious list of American companies,” said Christopher M. Hilger (pictured), Chairman, President and CEO of Securian Financial, which was first listed in 2018, at 462. “While it is nice recognition of our success, our focus remains on helping our customers, employees and community build successful tomorrows.”
Fortune 500 companies account for two-thirds of the United States gross domestic product. The rankings are limited to publicly traded companies, farmer-owned cooperatives and mutual insurers headquartered in the USA. Fellow ICMIF member Thrivent also features in the 2020 Fortune 500, listed at 368.
In February, Securian Financial announced its 2019 financial results, highlighted by strong revenue growth and increased community giving. “In 2019, we delivered excellent operating performance consistent with our 140-year history of outstanding financial strength. At the same time, we invested in our strategic business priorities and enhanced our community commitment. Most importantly, we again fulfilled our purpose by paying USD 5.6 billion in statutory benefits to our customers and their families when they needed us most” said Hilger
2019 company highlights
- Achieved customer retention results of 93% or better across all insurance and retirement business lines
- Made significant investments in strategic business priorities, including a multi-year technology transformation
- Acquired Empyrean Benefit Solutions to strengthen position in employee benefits
- Remained among the most highly rated insurance companies in the USA
Securian Financial’s contributions to the community from its foundation, in-kind donations, employee (associate) volunteerism and other cash gifts totalled USD 6.8 million in 2019 – an 11% increase over 2018. Securian Financial associates volunteered more than 20,000 hours in the community on activities ranging from mentoring local K-12 students to service on more than 125 non-profit boards.
For the 46th consecutive year, Securian Financial is making a profit-sharing contribution to eligible associates’ retirement accounts. This year’s company contribution is 7% of annual salary. All eligible associates receive a contribution, regardless of whether or how much they contribute to their retirement plans themselves. Securian Financial also maintains a fully-funded, 100% employer-paid pension plan, with associates vested in the pension after five years of service. The company retained 95% of its associates in 2019.