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Security Benefit Life Insurance to open a downtown office

Security Benefit Life Insurance Co., a Topeka, Kan.-based annuity provider, will soon open a Des Moines office in the East Village. The company will occupy the top floor of the building at 400 E. Court Ave. in the Capitol Center III complex. “Our firm recognizes that it needs to be in Des Moines, the insurance capital of the nation, in order to attract experienced employees to drive our strong growth,” Bill McDonough, head of institutional products, said in an email. McDonough said it has begun building Security Benefit’s Des Moines presence in 2021. Founded in 1892, the company has grown to $45.9 billion in assets under management, making it one of the leaders in the U.S. retirement market. Security Benefit offers annuities and mutual fund programs to educators and school district administrators, individual consumers, retirement plan participants in small and medium-sized businesses, and high-net-worth individuals. The company has a 20-year relationship with the National Education Association to provide retirement savings products to its nearly 3 million members and educators, according to its website. The company currently employs about 35 people in Des Moines and is exceeding its plan to grow to 75 employees over the next five years, McDonough said. Security Benefit is partnering with Shyft on an office renovation, which is expected to be completed in the second quarter.

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