St. Paul, MN, February 11, 2014 – Bucking an industry-wide trend of flat growth, Securian Financial Group broke its own record for individual life insurance sales.
Securian’s total individual life sales for 2013 were $214 million, far exceeding the goal for the year and standing out against weak sales across the industry. The latest information from the MIB Life Insurance Index shows individual life insurance sales continued their slow decline in the third quarter of 2013, with a 2.3 percent drop compared to the same period last year.
“We’ve focused on providing products that meet our customers’ needs,” said Bob Ehren, senior vice president, Life Product Manufacturing, Securian Financial Group. “We’re also expanding our reach to customers in markets that are relatively new to us.”
Securian’s growing network of independent brokers has played a significant role in the surge of individual life insurance sales since 2010. Securian also is focusing on strengthening its middle market expertise to provide coverage to an underserved market using digital application submission and direct marketing.
The company also expanded its product portfolio and operations in the state of New York, an investment that positions Securian for future growth in that large market.
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest life insurance groups, it is the holding company parent of several companies.
Insurance products are issued by Minnesota Life Insurance Company in all states except New York where products are issued by Securian Life Insurance Company, a New York authorized insurer. Both companies are headquartered in Saint Paul, MN and each insurer is solely responsible for the financial obligations under the policies and contracts it issues. Product availability and features may vary by state.