Prudential Financial has reported a net income of $981m in the third quarter of fiscal 2013, compared to a net loss of $627m in the corresponding quarter last year.
The insurance company posted an after-tax adjusted operating income of $1.39bn for the Financial Services Businesses, compared to $751m in the third quarter a year ago.
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However, its total revenues dropped to $10.82bn against $13.24bn in Q3 2012.
For the first nine months of 2013, the net loss for the Financial Services Businesses attributable to Prudential Financial amounted to $264m, compared to net income of $642m for the same period of 2012.
Prudential Financial chairman and chief executive officer John Strangfeld said that the company’s strong results for the third quarter and first nine months reflect solid underlying performance across its businesses.
"Our international businesses are performing well, continuing to build our franchise through consistent focus on serving clients’ lifetime financial security needs," Strangfeld said.
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