Principal Financial Group has completed its acquisition of Beam Benefits, effective September 1, bringing more than 25,000 small business customers into its Benefits and Protection business. The acquisition, announced in July, adds Beam's digital quoting and onboarding capabilities to enhance the customer and broker experience. Beam's executive leadership team and over 200 employees have transitioned to Principal, and existing customers will continue to receive uninterrupted service. Principal's 2026 capital deployment and earnings per share growth targets remain unchanged. Financial advisors for the deal were Perella Weinberg Partners for Principal and Ardea Partners for Beam, with legal counsel from Skadden and Wilson Sonsini, respectively.
Principal Financial Group IncPrincipal completes acquisition of Beam Benefits, adding 25,000 customers and digital capabilities, with targets unchanged.
Beam Benefits is acquired by Principal, providing exit for shareholders and integration into larger firm.
