Prudential Insurance Overview
Prudential Financial group belongs among the top financial providers for individual and institutional customers from around the world. Prudential Insurance Company of America is one of the largest life insurance companies in the United States. Prudential’s strong performance in the stock exchange (NYSE:PRU) reflects the financial strength of the company.
The Businesses at Prudential Financial
Prudential offers a number of different products and services, including mutual funds, life insurance, annuities, pension and retirement-related services and administration, asset management, banking and trust services, real estate brokerage franchises, relocation services and, through a joint venture, retail securities brokerage services. The Prudential Financial group of companies own a number of subsidiary companies through whom it covers nearly every aspect of financial needs of the individual and the corporation.
Prudential Financial is rated A+ by A.M.Best Company. (Information on the AM Best rating system and how it is determined)
Group Insurance at Prudential Insurance offers a full range of long-term and short-term group insurance policies. It has group disability insurance, corporate and trust-owned life insurance, etc. Accidental dismemberment and deaths are also covered under Prudential Insurance policies.
Prudential also has an Asset Management division that provides investment management and advices regarding mutual funds and other such financial interests for its clients. The Financial Advisory segment gives brokerage and financial advices to businesses and individuals. The Retirement section at Prudential offers products and administrative help regarding retirement plans of companies. The Retirement section also offers guaranteed products like GICs, funding agreements, structured settlements and group annuities. Together, the Asset Management, Financial Advisory and Retirement sections make up the Investment Division at Prudential.
The Individual Life and Annuities and Group Insurance segments conduct the Prudential Insurance Division. This segment of Prudential Insurance manufactures non-participating life insurance products like variable life, term life, universal life etc. and fixed annuities. Prudential markets its products through proprietary and third party distributors. For instance, in the sector catering variable annuities, American Skanidia is the largest distributor and it has been a subsidiary of Prudential since 2003.
Along with the domestic departments, Prudential Insurance also has the International Insurance and Investments Divisions for its international operations. It also has its Real Estate and Relocation Service.
Prudential is very cautious about ethical standards, and law compliance in all of its operations. The company thrives to maintain reputable business integrity. Prudential is very careful about its technological prowess. The Corporate Operations and Systems section maintains a state of the art communication system.
Commitment to Diversity
All aspects of Prudential Financial, including Prudential Insurance, are committed to a philosophy of diversity. Its international and domestic operations make it imperative that the company depends upon diverse communities and cultures. Prudential has operations in more than 30 countries. Its employees, agents and policyholders come from a wide cultural mosaic. Prudential believes that diversity in its ranks helps the company give better service to its customers.