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Principal Financial Insurance Executive to Retire

By Becky Ogann

Story Created: Nov 17, 2009 at 6:05 PM CDT

Story Updated: Nov 17, 2009 at 6:05 PM CDT

DES MOINES (AP) - The Principal Financial Group Inc. says its president of insurance and financial services will retire at the end of this year.

John Aschenbrenner has spent 37 years with the Des Moines-based insurance, retirement and financial services company. He was named to his current position in 2003.

The company announced Tuesday the 60-year-old Aschenbrenner will be succeeded by 48-year-old Dan Houston, president of retirement and investor services. He will assume leadership of the life, health and specialty benefits businesses in addition to his current role leading the U.S. asset accumulation business segment.

Principal Financial has more than $280 billion in assets under management and serves 18.6 million customers worldwide.

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