Prudential Financial Q4 net income rises
Prudential Financial has reported a net income of $686m for the fourth quarter of 2011 compared to $177m for the same period in 2010.
Net income of Financial Services Businesses surged to $606m, or $1.26 per share, for the fourth quarter of 2011, compared to $213m, or $0.45 per share for the same period a year ago.
Adjusted operating income for the Financial Services Businesses rose to $1.97 per common share, compared to $1.76 per common share in the year-ago quarter.
Revenues rose to $11.7bn, compared to $8.05bn for the same period in 2010.
The company's international insurance segment has reported an adjusted operating income of $692m, compared to $588m for the same period a year ago.
Prudential chairman and CEO John Strangfeld said that during the year, addition of the Star and Edison businesses in Japan and divestiture of several non-core operations have made us a stronger, more focused company.
"The merger of Star and Edison into Gibraltar Life was successfully completed on January 1, 2012, and the integration of these companies continues on track," added Strangfeld.
Related Insight
Suppliers Directory
Life Insurance & Pensions
Intermediaries Brokerage Underwriting London Lloyds
Reinsurance
Technology Technology in Insurance Outsourcing
Regulatory & Risk
Life Insurance & Pensions Intelligence
Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Buy online from $125
Comments may be moderated for spam, obscenities or defamation.