Des Moines, Iowa-based Principal Financial Group announced that John Aschenbrenner, president of its insurance and financial services division, will retire at the end of 2009 after more than 37 years with the company.

Aschenbrenner joined The Principal in 1972 and has served in a variety of executive level positions in the organization’s insurance and accumulation businesses. Named to his current position in 2003, Aschenbrenner has been responsible for overall management of the company’s life, health and specialty benefits businesses as well as the distribution channels supporting those businesses.

Upon Aschenbrenner’s retirement, Dan Houston, president – retirement and investor services, will assume leadership of the life, health and specialty benefits businesses in addition to his current role leading the U.S. Asset Accumulation segment. His new title will be president – retirement, insurance and financial services.