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.
