DES MOINES - The Principal Financial Group said Monday that its board of directors has voted unanimously in favor of a plan to convert from a mutual insurance holding company to a stock company.

That authorizes management to begin demutualization, which involves distributing the value of the company to holders of policies that were in force before March 31, 2000.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.