NU Online News Service, Feb. 2, 2004, 8:50 p.m. EST – The stock market rebound helped offset the effects of rising interest rates at Principal Financial Group Inc. in the fourth quarter of 2003.[@@]
The Des Moines, Iowa, insurer is reporting $203.9 million in net income for the latest quarter on $2.5 billion in revenue, compared with $215.4 million in net income on $2.3 billion in revenue for the fourth quarter of 2002.
Higher disability insurance sales led to modest growth in life and health insurance revenue and helped increase insurance operating profits to $66.4 million, from $61.4 million.