Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  Prudential Financial Inc    PRU

Delayed Quote. Delayed  - 08/28 04:02:24 pm
81.2 USD   +0.10%
08/27DJBank Scrambles to Price Funds After Glitch
08/27DJU.S. Stocks Rally Amid Recovery in Global Markets
08/26DJA New Computer Glitch is Rocking the Mutual Fund Industry
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Prudential Financial Inc : Prudential completes pension risk transfer transaction with Verizon

12/10/2012 | 09:30am US/Eastern

The Prudential Insurance Company of America, a Prudential Financial, Inc. company (NYSE:PRU), today announced that the Verizon Management Pension Plan has purchased a single premium group annuity contract from Prudential Insurance to settle approximately $7.5 billion of pension liabilities of the Plan. Under the terms of the contract, Prudential Insurance has irrevocably assumed the obligation, beginning January 1, 2013, to make future annuity payments to approximately 41,000 members of the Verizon Management Pension Plan.

"We welcome the Verizon retirees who will now receive annuity payments from Prudential," said Christine Marcks, president of Prudential Retirement. "Prudential is focused on helping people achieve retirement security, and we look forward to providing guaranteed lifetime income to these retirees."

Prudential Financial, Inc. (NYSE: PRU), a financial services leader, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

Prudential Financial, Inc.
Dawn Kelly, 973-802-7134
dawn.kelly@prudential.com


© Business Wire 2012
React to this article
Latest news on PRUDENTIAL FINANCIAL INC
08/27DJBank Scrambles to Price Funds After Glitch
08/27 PRUDENTIAL FINANCIAL : To Host 2016 Tokyo Investor Day
08/27DJU.S. Stocks Rally Amid Recovery in Global Markets
08/26DJA New Computer Glitch is Rocking the Mutual Fund Industry
08/26DJA New Computer Glitch Is Rocking the Mutual Fund Industry
08/25 PRUDENTIAL FINANCIAL : Infographic, "The African American Financial Experience,"..
08/25 PRUDENTIAL FINANCIAL : Infographic, "The African American Financial Experience,"..
08/24 PRUDENTIAL FINANCIAL : Retirement hires new executive to lead TRS Product team
08/21 PRUDENTIAL FINANCIAL INC : ex-dividend day
08/20 DEUTSCHE BANK : Prudential Investment Management's Business in India Expands thr..
Advertisement
Chart
Duration : Period :
Prudential Financial Inc Technical Analysis Chart | PRU | US7443201022 | 4-Traders
Income Statement Evolution
More Financials