Securian Financial Group
Securian Financial Group is a privately held insurance and financial services company offering life insurance, annuities, supplemental health, credit protection, and pension risk transfer solutions through financial professionals, employer group plans, and over 6,000 financial institution and affinity partnerships.
- Company typePrivate
- Founded1880
- HeadquartersSaint Paul, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Securian Financial Group does
Securian Financial Group, Inc. is a privately held financial services and insurance holding company headquartered in Saint Paul, Minnesota, founded in 1880. Operating through wholly-owned subsidiaries including Minnesota Life Insurance Company, Securian Life Insurance Company, Securian Financial Services, Inc., and Securian Casualty Company, the company distributes life insurance, annuities, supplemental health insurance, credit protection, and institutional retirement solutions through three primary channels: licensed financial professionals, employer group plans, and financial institutions/affinity groups, serving more than 6,000 financial institutions and associations and millions of policyholders nationwide.
The product portfolio spans individual life insurance (term, whole, universal, indexed universal, variable universal), multiple annuity structures (immediate, fixed deferred, fixed indexed deferred, registered index-linked, variable deferred), group supplemental health (critical illness, accident, hospital indemnity covering 80+ to 110+ conditions), credit and payment protection products, and institutional retirement solutions including pension risk transfer. Technology investments include AI-enabled instant claims decisioning and payment for supplemental health (reducing processing from days to minutes via real-time decision engines with integrated fraud detection), the My Coverage digital claims portal, and the FlexTech embedded technology platform developed in partnership with Walnut Insurance to embed payment protection into loan applications and digital lender experiences.
Revenue is generated primarily through recurring insurance premiums and annuity considerations, distributed via a sales-led model combining licensed financial professionals for individual products, dedicated state-organized group sales teams for employer benefits, and channel partnerships with banks, credit unions, auto dealers, digital lenders, and associations. In 2025, the company reported record operating revenue of $8.2 billion and core earnings of $362 million (up 27% year-over-year), driven by insurance and retirement business including record pension risk transfer volumes. The company is investing in digital distribution, AI-powered claims processing, and embedded insurance technology to extend reach and improve unit economics.
Securian Financial Group firmographics
Firmographics- Name
- Securian Financial Group
- Legal name
- Securian Financial Group, Inc.
- Website
- https://securian.com
- Company type
- Private
- Founded year
- 1880
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Securian Financial Group is a privately held insurance and financial services company offering life insurance, annuities, supplemental health, credit protection, and pension risk transfer solutions through financial professionals, employer group plans, and over 6,000 financial institution and affinity partnerships.
- Ownership category
- akta.pro rank
Securian Financial Group industry classification
Industry- Product category
- Insurance and Retirement Services
- NAICS
- Direct Life Insurance Carriers (524113), Direct Health and Medical Insurance Carriers (524114), Insurance Carriers and Related Activities (524)
- SIC
- Life Insurance (6311), Accident & Health Insurance (6321)
- akta.pro primary industry
- Variable Universal Life (VUL) Insurance (FSAIABAD)
- akta.pro secondary industries
- Group Universal Life (GUL) (FSAIADAC), Group/Employer-Sponsored Critical Illness & Hospital Indemnity (FSAIAKAD), Individual/Retail Critical Illness & Hospital Indemnity (FSAIAKAE), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH), Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)
Keywords
Where Securian Financial Group is headquartered
LocationHeadquarters
- HQ city
- Saint Paul
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Securian Financial Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Life Insurance Premiums: Individual and group life insurance products including term, whole life, universal life, and indexed universal life policies generating recurring premium revenue.
- Supplemental Health Insurance: Group accident, critical illness, and hospital indemnity insurance products offered through employers, generating recurring premiums.
- Annuity Products: Immediate, fixed deferred, fixed indexed deferred, registered index-linked, and variable deferred annuities providing retirement income solutions.
- Credit Protection Products: Payment protection, debt protection, and credit insurance products distributed through financial institutions to protect borrowers against disability, involuntary unemployment, critical illness, or death.
- Pension Risk Transfer (PRT): Institutional retirement solutions including pension risk transfer, helping companies manage their pension liabilities. Drove record volumes in 2025.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Products are offered through financial professionals with pricing based on individual assessment |
Go-to-market motion4 records
Distribution channels5 records
Marketing channels5 records
Securian Financial Group product offering
Product offeringCore offering
Securian Financial Group provides insurance, retirement, and investment products through three primary channels. For individuals, it offers life insurance (term, whole, universal, indexed universal, survivorship, variable universal), annuities (immediate, fixed deferred, fixed indexed deferred, registered index-linked, variable deferred), and accident and illness insurance. For employers, it provides group life, supplemental health (critical illness, accident, hospital indemnity), and financial wellness programs. For financial institutions and affinity groups, it delivers credit/payment protection products, lender protection, and embedded insurance technology (FlexTech) to embed coverage into loan applications.
Product overview
Securian Financial Group offers a comprehensive insurance and retirement solutions portfolio organized across three primary channels: Individual (life insurance, annuities, accident & illness, credit protection), Employer/Group (group life, supplemental health including critical illness/accident/hospital indemnity, institutional retirement solutions), and Financial Institutions (individual protection, lender protection, embedded technology via FlexTech). The core products include Term/Whole Life/Universal insurance, multiple annuity types, and group supplemental health with over 80-110 covered conditions. The company is expanding into AI-powered digital claims processing (instant decisioning for supplemental health) and embedded insurance distribution through its FlexTech platform partnered with Walnut Insurance. Financial wellness offerings (Financial Wellness 360) complement the core insurance products.
Differentiator
Problem solved
Functional benefit
Products and services
- Life Insurance
- Annuities
- Accident & Illness Insurance
- Credit Protection
- Group Life Insurance
- Group Supplemental Health Insurance
- Institutional Retirement Solutions
- Financial Wellness 360
- Individual Protection Solutions
- Lender Protection
- FlexTech Embedded Technology Platform Embedded technology platform that enables affinity groups, digital lenders, and financial institutions to embed Securian's payment protection products directly into their loan applications and customer-facing digital experiences. Developed in partnership with Walnut Insurance; initially supports disability, involuntary unemployment, critical illness, and death payment protection products.
- My Coverage Digital Portal Digital claims portal for credit insurance and debt protection that allows customers of financial institutions and associations to file and track claims online 24/7 with real-time status updates and secure document uploads.
- AI-Enabled Instant Claims Decision and Payment AI-enabled claims processing capability for group supplemental health insurance that automatically reviews, approves, and pays eligible claims in near real time, routing complex cases to human examiners.
- Retirement Loan Protection Program Program offered in partnership with Custodia Financial that helps safeguard 401(k) loans from default due to job loss, disability, or death.
- Document Solutions Customized and compliant loan and deposit forms sold to financial institutions.
Quantifiable outcome
- 77% of borrowers recognize the value of loan payment protection products, but only 22% have purchased them - identifying significant market opportunity
- +2 more outcomes
Companies that use Securian Financial Group
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles5 records
Securian Financial Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability3 records
Feature3 records
Securian Financial Group partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Walnut InsurancecoreStrategic partnership with embedded insurance startup Walnut Insurance to develop and power the FlexTech technology platform. The partnership combines Walnut's embeddable infrastructure technology with Securian's protection expertise to expand digital distribution of financial safety net products through affinity groups and digital lenders.
- Custodia FinancialcoreStrategic partnership to expand access to Custodia's Retirement Loan Protection program, which helps safeguard 401(k) loans from default due to job loss, disability, or death. Extends Securian's product portfolio in the retirement solutions space.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Securian Financial Group competitors and assessment
Company assessmentDirect peers
- Northwestern Mutual: Mutual life insurance company headquartered in Milwaukee with comparable product breadth across life insurance, annuities, and wealth management. Directly comparable as a private mutual life insurer with a financial-professional distribution model and similar 160+ year operating history.
- New York Life: Largest mutual life insurance company in the U.S., offering individual life, annuities, long-term care, and investment products through financial professionals. Highly comparable as a mutual carrier with similar product portfolio and exclusive-agent distribution model.
- MassMutual: Mutual life insurance and financial services company offering life insurance, disability income, annuities, and retirement plans through financial professionals. Direct peer given its mutual structure, comprehensive product suite, and similar group benefits franchise.
- Lincoln Financial Group: Public life insurance and retirement company offering individual life, group benefits, annuities, and retirement plan services. Closely comparable product mix, particularly in group life/supplemental health and annuities, with similar financial-professional and employer distribution channels.
- Principal Financial Group: Public financial services company providing retirement, asset management, and insurance products including group benefits and individual life. Comparable across group benefits, retirement solutions, and institutional retirement segments where Securian competes.
- Guardian Life Insurance: Mutual life insurance company offering life, disability, dental, and retirement products through financial professionals and employers. Comparable as a private mutual insurer with overlapping group benefits and individual life offerings.
- Unum Group: Public provider of disability insurance, group life, and supplemental health benefits primarily through employer-sponsored group plans. Highly comparable in the group supplemental health and employer benefits segments that are core to Securian.
- Voya Financial: Public retirement, investment, and insurance company with strong group benefits and individual life franchises. Comparable in retirement solutions (especially 401(k)/institutional) and group supplemental health distribution through employers.
- AFLAC: Public supplemental insurance leader specializing in accident, critical illness, hospital indemnity, and group life products distributed through employers and financial institutions. Direct peer in the supplemental health insurance category with similar product economics and distribution model.
Broad incumbents
- Prudential Financial: Large public financial services conglomerate offering life insurance, annuities, retirement (including PRT), asset management, and group benefits. Comparable as a major incumbent competing in life insurance, annuities, and PRT, though materially larger and more diversified.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Securian Financial Group social profiles
Digital presenceSecurian Financial Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Securian Financial Group leadership team
Management profileNumber of profiles
Profiles5 records
Securian Financial Group subsidiaries and ownership
Company hierarchySubsidiaries5 records
Securian Financial Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Securian Financial Group M&A and investment
M&A and investmentM&A4 records
Investments5 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Securian Financial Group
What does Securian Financial Group do?
Securian Financial Group provides insurance, retirement, and investment products through three primary channels. For individuals, it offers life insurance (term, whole, universal, indexed universal, survivorship, variable universal), annuities (immediate, fixed deferred, fixed indexed deferred, registered index-linked, variable deferred), and accident and illness insurance. For employers, it provides group life, supplemental health (critical illness, accident, hospital indemnity), and financial wellness programs. For financial institutions and affinity groups, it delivers credit/payment protection products, lender protection, and embedded insurance technology (FlexTech) to embed coverage into loan applications.
Is Securian Financial Group a public or private company?
Securian Financial Group is a private company. It is classified as unknown and is currently operating.
When was Securian Financial Group founded?
Securian Financial Group was founded in 1880. It employs 1,001 to 5,000 people.
Where is Securian Financial Group based?
Securian Financial Group is headquartered in Saint Paul, United States, in the North America region.
How does Securian Financial Group make money?
Five revenue lines are on record. Life Insurance Premiums are the primary driver. The others are supplemental Health Insurance, annuity Products, credit Protection Products and pension Risk Transfer (PRT).
Who are Securian Financial Group's main competitors?
Direct peers on record are Northwestern Mutual, New York Life, MassMutual, Lincoln Financial Group, Principal Financial Group, Guardian Life Insurance, Unum Group, Voya Financial and AFLAC. Prudential Financial is listed as a broad incumbent.
Does Securian Financial Group have an API?
No public API is recorded for Securian Financial Group.
What industry is Securian Financial Group in?
Securian Financial Group's product category is Insurance and Retirement Services. Its primary akta.pro industry code is FSAIABAD, Variable Universal Life (VUL) Insurance, with a secondary code of FSAIADAC, Group Universal Life (GUL). Its NAICS code is 524113 and its SIC code is 6311.