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Principal Group. The Principal Group was a group of interrelated Canadian financial companies that collapsed in 1987, resulting in losses to an estimated 67,000 people. Losses were in recovered in part through provincial governments paying compensation, based on findings as to deficiencies in regulatory oversight.
US$ 16.125 Billion (Fiscal Year Ended December 31, 2021)[ 1] Number of employees. ~18,600 (As of December 31, 2022)[ 1] Subsidiaries. Principal Mutual Fund. Website. principal .com. Principal Financial Group, Inc. is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, U.S.
The main companies associated with the Principal Group were First Investors Corporation, Associated Investors of Canada and Principal Savings and Trust Corporation. The associated corporations within the Principal Group grew to more than $1 billion of assets. The corporations were closed by regulators in 1987 and subsequently liquidated.
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The last day of school before Christmas in 1975, in my small town in California, the school bus broke down and the principal gave us a ride in the back of his Chevy pick up truck.
In November 2016, Principal Hayley Group went through a major rebranding and re-investment project. The group was renamed as the Principal Hotel Company and split their portfolio between two groups of hotels; Principal (a group of luxury city hotels) and De Vere (a group of country estate hotels). [13]