ST. PAUL, Minn.--(BUSINESS WIRE)--Minnesota Life Insurance Company recently issued a $30 million Guaranteed Investment Contract (GIC) to the State of Washington Savings Pool, which is managed by the Washington State Investment Board. The proceeds from the GIC will be part of Minnesota Life’s general assets, and will be managed by Securian Asset Management.
“Minnesota Life was chosen by the State of Washington in large part due to our stability, integrity, long-term focus and commitment to maintaining a strong balance sheet,” said Steve Moen, senior vice president, head of distribution and investment solutions for Securian Asset Management.
“Assets received from the GIC are part of Minnesota Life’s general assets, with guarantees made in the GIC based on the financial strength and claims-paying ability of the company. The investment strategy of these assets primarily focuses on high quality investment grade public and private fixed income securities,” said Nick Volkmann, director & actuary, retirement solutions at Securian Financial, Securian Asset Management’s parent company.
“We are enthusiastic about working with the State of Washington to assist them in achieving their long-term goals,” said Mr. Volkmann.
Securian Financial has been offering consultative retirement solutions since 1930. The company’s commitment to developing institutional products that fit market needs is coupled with exceptional service provided by long-tenured retirement specialists. A culture of strong risk management bolsters financial strength, reflected by our stability, integrity and long-term focus.
ABOUT SECURIAN ASSET MANAGEMENT
Securian Asset Management, Inc. (Securian AM) is an institutional asset manager specializing in public and private fixed income, commercial real estate debt and other income-oriented equity investment strategies with more than $42 billion under management as of June 30, 2019. The asset manager was established in 1984 and traces its history to the founding of parent firm Securian Financial in 1880. Securian Asset Management is a subsidiary of Securian Financial Group, Inc.
ABOUT SECURIAN FINANCIAL
At Securian Financial, we’re here for family. And we’re here because of it. We’re guided by our purpose: helping customers build secure tomorrows. Since 1880, we’ve been building a uniquely diversified company that has outlasted economic ups and downs while staying true to our customers. We’re committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with those who matter most.
Insurance products are issued by Minnesota Life Insurance Company in all states except New York. In New York, products are issued by Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues.
This is a general communication for informational and educational purposes. The materials and the information are not designed, or intended, to be applicable to any person’s individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. If you are seeking investment advice or recommendations, please contact your financial professional.
Securian Financial is the marketing name for Securian Financial Group, Inc. and affiliates. Minnesota Life Insurance Company and Securian Life Insurance Company are affiliates of Securian Financial Group, Inc.
Securian Asset Management, Inc. is a subsidiary of Securian Financial Group, Inc.
Policy form number: 19-70474