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Principal® to Acquire Employee Benefits Company Beam Benefits

  • Principal Financial Group announced an agreement to acquire Beam Benefits, a company serving over 25,000 small businesses.
  • Beam Benefits offers dental, vision, life, disability, & supplemental health coverage supported by a cloud-native technology stack with AI at its core.
  • Beam Benefits generated approximately $175 million in premiums in 2025.
  • Principal currently serves 180,000 employers with comprehensive retirement, benefits, & business owner solutions.
  • The acquisition is expected to close in the latter half of 2026, subject to regulatory approvals.
  • Capital deployment & earnings per share growth targets for 2026 remain unchanged.
  • Principal expects the acquisition to accelerate premium & fee growth for Specialty Benefits to at or above the high-end of the 5–9% medium-term target range in 2027.
  • Perella Weinberg Partners served as financial advisor to Principal, while Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel.
  • Ardea Partners LP served as financial advisor to Beam Benefits, while Wilson Sonsini Goodrich & Rosati, P.C. acted as legal counsel.