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Principal issues '18 outlook for biz units

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Principal issues '18 outlook for biz units

Principal Financial Group Inc. issued 2018 guidance for certain business unit metrics and an update on its capital deployment plans.

The company expects net revenue growth of 2% to 5% for its retirement and income solutions fee segment and 5% to 10% for its retirement and income solutions spread segment. The firm expects operating revenues less pass-through commissions growth of 4% to 8% for the Principal Global Investors segment.

For the Principal International segment, the company projects combined net revenue growth of 11% to 14%. Principal forecasts premium and fees growth of 7% to 9% for the specialty benefits segment. The company expects premium and fees to grow between 3% and 6% in the individual life segment.

Principal projects pretax operating losses of $190 million to $210 million in the corporate segment next year. The outlook assumes $900 million to $1.3 billion of total capital deployed for common stock dividends, strategic acquisitions, share repurchases and other measures.