Principal Financial Group® has completed its acquisition of Beam Benefits, a digitally native employee benefits provider, accelerating its growth strategy within the small business segment. The transaction expands Principal’s reach by integrating Beam’s digital-first platform, which simplifies ancillary benefits administration through automated quoting, streamlined onboarding, and self-service capabilities for brokers and employers. By adding more than 25,000 small business customers and 200 employees, Principal strengthens its position in the small-to-midsize employer market without altering its previously stated 2026 capital deployment or earnings per share growth targets. Highlighting the strategic significance of the milestone, Amy Friedrich, president of Benefits and Protection at Principal, stated:
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“Our combined organizations are in a strong position to serve the benefit and protection needs of more small businesses. This acquisition marks an important milestone in our strategy to accelerate growth in this important market.” Emphasizing the operational alignment between both organizations, Tolithia Kornweibel, chief executive officer of Beam Benefits, added: “Beam has built its business around simplifying employee benefits for small businesses through faster quoting, streamlined onboarding, and an easier experience for employers and brokers. Together with Principal, we can accelerate our mission to help more businesses offer benefits to support their employees and their growth.” Ultimately, this acquisition unites Beam’s intuitive digital experience with Principal’s capital strength and distribution scale, establishing a unified ecosystem that reduces friction across workforce benefits management.
