Securian target operating profit below: The St. Paul insurer always flourished, and continues its unbroken string of 401 (k) contributions. David Phelps Star Tribune, Minneapolis McClatchy-Tribune Regional News
February 18 - Securian Financial Group recorded in 2008 a MoneyMaking years on Tuesday, but acknowledged that the sharp decline in investment due to lower operating income by 41 percent the year 2007 when the St. Paul -based insurer operating earnings of $ 171 million.

The $ 100 million of operating income in 2008 was also 33 percent below the goal of the company.

"These are the worst economic conditions in my career," said President and CEO Robert Senkler. "But despite this environment, we have survived and prospered.

The company said revenue rose 20 percent, while the amount of insurance in force grew by 15 percent.

"We had a good year, considering a muddy field," Senkler said Tuesday in an interview.

He said that pensions were a strong product set last year for investors cautious stock market. Similarly, sales of group life insurance were strong, as companies stuck with insurers. Securian is fourth in the nation in life insurance underwriting.

Senkler said 2009 is off to a difficult start on the financial markets.

"It will be a test on the balance sheets of all companies. Ours stays, "he said. "You can not invest money without taking a few hits of this market, but we have high quality investments."

The company said 97 per cent of the bonds in his life were quality investments at the end of last year and he has had no mortgage delinquency. The company attributed the decline to 19 percent of assets under management of instability in financial markets.

Based on its financial performance, "said Securian will contribute an amount equal to 5.5 percent of its 3,500 employees to pay their annual 401 (k). The company noted in a public statement he has made 401 (k) contributions since the program began, "whether or not the employee contributes at all." The amount has ranged from 4 10 per cent of salaries of employees, the company said.

David Phelps - 612-673-7269