Securian Financial Group (formerly Minnesota Life)
Because it does business in a national marketplace, Securian – a Minnesota-based insurer – is subject to paying “retaliatory” premium taxes in states with lower tax rates than Minnesota’s rate. Because more states have been lowering their premium tax rates in recent years, Securian’s retaliatory tax problem was worsening and Securian was put at a competitive disadvantage. It became important to lower Minnesota’s premium tax rate – even at a difficult time of diminished state revenue collections.
Exceptional results
With Goff Public’s help, legislation lowering the state’s premium tax became law, enabling Securian to be more competitive in the industry.