Best Co. affirmed the “A” rating of Prudential Insurance Company of America, based in Newark, N.J.
The rating reflects the organization’s diverse and substantial sources of revenues and earnings, prominent market position in its core business units, excellent liquidity and sound capitalization. Also acknowledged is management’s focus on reducing the organization’s overall risk profile with the goal of leading to more predictable earnings, as well as strategic initiatives designed to enhance the organization’s competitive standing within the financial-services arena.
Prudential, one of the largest life insurance carriers in the U.S. in terms of insurance assets under management, is a leading provider of life insurance, annuities, retirement services, asset management, securities brokerage and property and casualty insurance.
In recent years, the organization’s risk-adjusted performance has also benefited from the improved results of Prudential Securities, its retail broker dealer and mutual fund subsidiary, PruPAC, its property and casualty subsidiary, and a market-driven shift to less capital-intensive insurance and annuity products.
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