<P> The Principal Financial Group is a global financial investment management and insurance company headquartered in Des Moines, Iowa . </P> <P> The Principal Financial Group (Principal) offers businesses individuals and institutional clients a wide range of financial products and services including retirement, asset management and insurance, through its diverse family of financial services companies . Principal has offices in 18 countries throughout Asia, Australia, Europe, Latin America and North America . As of March 31, 2014, The Principal Financial Group had $496 billion in total assets under management and serves some 19.2 million customers worldwide . </P> <P> In 2014, Principal was ranked 298th on Fortune magazine's list of the 500 largest U.S. corporations (May 2014). In 2013, Principal earned the top spot in its category for the second year in a row of Pensions & Investments' annual survey of "Best Places to Work" in Money Management . In 2013, Principal ranked 528th on the Forbes Global 2000 list, which recognizes the world's biggest and most powerful companies, as measured by a composite ranking for sales profits, assets and market value (as of April 2013). </P> <Ul> <Li> 1879 - Bankers Life Association was founded on July 1, 1879 by Edward Temple, a banker from Chariton, Iowa, and five other colleagues . At first, Bankers Life Association provided life insurance (in the form of memberships) to men between the ages of 22 and 55 . They had to be in good health and not be employed in any occupation that was considered high - risk . Insurance benefits would also not be awarded if unintentional death was caused by harmful consumption of alcoholic beverages, or the irresponsible use of drugs . </Li> <Li> 1882 - The number of memberships required the hiring of the association's first employee, John Tibbs, who acted as a General Agent . </Li> <Li> 1889 - Bankers Life Association had $29 million of life insurance memberships in effect . This required the association to relocate its operations to the Equitable Building in Des Moines, Iowa . Costs were kept at frugal standards . Temple's salary increased to $6,000 in 1890, which was considerably lower than salaries offered by similar businesses . </Li> <Li> 1909 - After the death of Edward Temple, the Board of Directors voted to reorganize the business into a mutual life insurance company . George Kuhns became president of the company . He employed the use of direct - mail advertising to reach new markets . This brought in $3 million in new sales within the first year . </Li> </Ul>

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