Securian, one of the state's largest privately held companies, provides a range of insurance and financial services for individuals and businesses. It's perhaps best known as the parent of
Total sales at Securian grew 37 percent to
Much of the growth was driven by a 93 percent increase in sales at
In an interview,
"We were competing against many of the largest asset managers in the industry," Sebald said.
Securian's other business units also fared well.
Sales of annuities, mostly variable annuities, soared 57 percent to
Senkler said that the risk profile of variable annuities has turned around from six years ago and the company is benefiting from that as baby boomers eye retirement.
"It's a major product that people will continue to value," Senkler said. "We find the market very attractive."
Senkler said he sees the trend continuing for the next two or three years.
Annuities are insurance products often used for retirement that pay buyers a regular stream of income. Unlike fixed annuities that offer a guaranteed payout, variable annuities offer a stream of payments based on the performance of underlying investments, and generally carry higher risk.
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