Principal Financial Group has appointed David Shafer as the new senior vice president of its health division.

Mr Shafer joins Principal with more than 20 years of experience in the healthcare industry. He has held a number of leadership positions at major corporations as well as smaller, regional health insurance companies.

Recently Mr Shafer served as president of pharmacy benefits management at Cigna. Prior to that, he was executive vice president of national operations for AmeriChoice, the medicaid business segment of United Health Group.

John Aschenbrenner, president of insurance and financial services for the Principal Financial Group, said: Dave brings a tremendous amount of health care experience and a track record of driving growth and profitability in the health insurance industry. We look forward to his leadership and expertise.