Company Overview Visit prudential.com website
Prudential Financial is one of the largest financial services companies in the United States. The company operates its business through three segments:
1. The Prudential Insurance segment offers life insurance, annuities, retirement-related services, mutual funds, and other investment products. This segment distributes its products through independent distribution channels, including financial intermediaries and advisors specializing in serving the needs of insurance customers.
2. The Asset Management segment provides investment advisory products and services to institutional clients in overseas markets. As of 2013, this segment had $1.77 trillion in assets under management (AUM). It includes M&G Investment Management Ltd., which is a subsidiary company engaged in providing investment advisory products and services to retail investors; asset managers such as Putnam Investments, Ltd., which are subsidiaries that are engaged in providing investment advisory products and services to institutional clients; and M&G Securities Limited, which is a subsidiary company engaged in the asset management business.
3. The Individual Life, Group Insurance, Corporate Benefits & Services, and Runoff segments offer individual life insurance products through branded distribution channels for both their long-term care insurance product line as well as other lines of individual life insurance; group traditional life insurance; stop loss reinsurance; bank-owned life insurance; corporate-owned life insurance; retirement income benefit solutions for corporations and other institutions such as banks and brokers; health benefits administration services for self-funded customers (health maintenance organization); third party administration (TPA) services for fully insured group end of life (EOL) plans; group life insurance; the sale of annuities (Prudential Annuities, LLC); and lifestyle protection products (Underwritten by Chubb).
The company offers its products through distributors in both individual and institutional businesses. Prudential has distribution agreements with approximately 21,000 financial services professionals, including 14,500 advisors employed by banks employing broker-dealer firms (BDs), more than 1,100 BDs for Prudential Retirement Insurance & Financial Services business, 400 independent wholesale agents who are authorized to sell variable annuities through Bank of America Merrill Lynch or UBS Financial Services Inc., and 700 independent wholesale brokers.