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

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

Delayed Quote. Delayed  - 06/24 10:03:26 pm
70.91 USD   -7.85%
06/23DJBernanke, Volcker, Dodd, Frank Join MetLife Regulation Fight
06/23 PRUDENTIAL 2016 : Obergefell decision yields financial confidence, b..
06/23 PRUDENTIAL FINA : Statement from Prudential Retirement President Chr..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/10/2012 | 03:30pm CEST

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on PRUDENTIAL FINANCIAL INC
06/23DJBernanke, Volcker, Dodd, Frank Join MetLife Regulation Fight
06/23 PRUDENTIAL 2016/2017 LGBT FINANCIAL : Obergefell decision yields financial conf..
06/23 PRUDENTIAL FINANCIAL : Statement from Prudential Retirement President Christine ..
06/22 PRUDENTIAL FINANCIAL : To Announce Second Quarter 2016 Earnings; Schedules Confe..
06/22 PRUDENTIAL FINANCIAL : ranks No. 5 among large corporations on Computerworld lis..
06/22 PRUDENTIAL RETIREMENT : DC plan participants crave lifetime income guarantee opt..
06/22 PRUDENTIAL FINANCIAL : Where there's will - and more - there's peace of mind
06/20 PRUDENTIAL FINANCIAL : Insurance Company of America seals third longevity reinsu..
06/20 PRUDENTIAL FINANCIAL : To raise stake in dhfl pramerica life to 49%
06/17 PRUDENTIAL FINANCIAL INC : Other Events, Financial Statements and Exhibits (form..
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials