Securian Financial has been protecting families for more than 140 years. As our company has grown and evolved, we’ve never lost sight of those who depend on us.
Our history
1880
Our founding
Russell Dorr founds the Bankers Association of Minnesota on August 6, the first life insurance company in Minnesota.
1901
We restructure into a mutual life insurance company and adopt a new name — Minnesota Mutual Life Insurance Company — that we keep for almost a century.
1917
Minnesota Mutual Life issues its first group life insurance policy. Mrs. A. J. Serviss of the Twin City Agency becomes the first woman to join the ranks of our top sales producers after selling the policy.
1930
Minnesota Mutual Life develops its first pension plan.
1956
We make our first serious investment in technology when we order our first computer system, which occupied 1,000 square feet of space within our new headquarters at 345 Cedar Street.
1959
We begin offering low cost loan protection through savings and loan associations, laying the foundation for the broad array of products and services we provide the credit union market today.
1971
We introduce the first flexible life insurance policy — Adjustable Life — a single policy that can be adjusted to meet financial needs throughout all stages of life.
1984
We create an asset management subsidiary and establish our broker-dealer, Securian Financial Services, Inc.
We begin providing 401(k) plans, the fastest growing employee benefit in the country at the time.
1988
Variable life and annuity product launches offer a range of investment options, placing us at the forefront of the variable product revolution.
1994
Bob Senkler begins his successful 20-year run as CEO.
Minnesota Mutual develops its Variable Group Universal Life (VGUL) product, offering investment flexibility previously unavailable in group plans.
1998
We adopt a mutual holding company structure and the Minnesota Life brand.
We launch our first transactional website, LifeBenefits.com, to streamline and simplify enrollment for group insurance products in the large employer market.
2001
We introduce the Securian brand, adopting a new name and identity, but we're still the same company with a commitment to protecting those who matter most.
2004
Securian acquires Allied Solutions, one of the largest distributors of products in the credit union market, and significantly broadens our market presence and product offerings.
2014
Securian acquires a majority stake in Asset Allocation & Management Company (AAM), more than tripling the assets we manage for outside insurance companies.
Insurance in force surpasses $1 trillion.
2015
Chris Hilger becomes CEO, bringing more than 30 years of leadership experience to his new role. He joined Securian Financial in 2004, when the company acquired Allied Solutions and progressively moved into positions of greater responsibility.
2017
Securian expands into Canada through the acquisition of Canadian Premier Life Insurance Company and its affiliates, Legacy General Insurance Company, CRI Canada and Selient.
2018
Securian Financial introduces a new brand identity to better reflect who we are, what we do and what we stand for. The rebrand elevates our promise: to champion the rewards of putting family first.
2019
Acquired Empyrean Benefit Solutions, a benefits administration and technology company, to expand our offerings in the employee benefits market.
2020
We celebrate our anniversary — 140 years of protecting families. We also celebrate successfully running our business and serving customers while adapting to new ways of working during the COVID-19 pandemic.
2022
Securian Financial unveils a new strategic plan to help us sharpen our focus, meet changing customer expectations and accelerate growth in priority markets. As part of this, we exited the retirement recordkeeping business.
We commemorate a strong year and promises kept despite pandemic-related challenges. Milestones include paying $1.3 billion in COVID-related death benefits to more than 19,000 families.1
2023
We exited our retail wealth management business, a transaction that helps us focus on priorities while staying committed to the retail wealth business.
A.M. Best, the nation's oldest rating agency, recognized Minnesota Life Insurance Company with its “Best's Review Standing the Test of Time” award for maintaining a Best Credit Rating of “A” or higher for 75 years.2
Canadian Premier is rebranded to Securian Canada, following the acquisition of Sun Life's Sponsored Markets business.
1. As of September 20, 2023 for year ending 2022.
2. Awarded August 1, 2023. For more information about the rating agencies and to see where our ratings rank compared to other ratings, visit securian.com/ratings. Ratings for financial strength and claims-paying ability are important; however, they are not reflective of the performance of any registered securities or variable subaccounts.
Securian Financial Group, Inc. is the parent corporation of Minnesota Life Insurance Company and Securian Life Insurance Company, a New York authorized insurer. Certain financial highlights are presented at the parent level only. Assets under management includes an acquired majority interest in Asset Allocation & Management Company (AAM), a Securian Financial affiliate.
DOFU 10-2023
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