Prudential Financial has reported consolidated net loss of $460m for the fourth quarter of 2013, compared to a net loss of $203m during the comparable period last fiscal.
For the fourth quarter ended on 31 December 2013, Prudential’s financial services business reported a net loss of $427m or $0.94 per share, compared to a net loss of $185m, or $0.42 per share during the same period a year ago.
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For the fourth quarter of 2013, after-tax adjusted operating income for the Financial Services Businesses was $1.048bn, or $2.20 per common share, against $831m, or $1.76 per common share during the fourth quarter of 2012.
The US retirement solutions and investment management division posted adjusted operating income of $996m, against $714m during the same period last year.
The US individual life and group insurance’s adjusted operating income stood at $215m, compared to last year’s $87m.
The International Insurance segment reported adjusted operating income of $647m for the fourth quarter of 2013, unchanged from $647m in the year-ago quarter.
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