November 2, 2006 |
Cigna Corp. on Wednesday reported a 15% increase in third-quarter profit, buoyed by a strong showing in its health insurance business as membership rolls increased and the company better managed its medical costs. In the quarter, net income rose to $298 million, or $2.75 a share, from $259 million, or $2, during the same period last year. Earnings excluding investment gains and other nonoperating items increased to $268 million, or $2.48 a share, in the latest quarter from $251 million, or $1.
August 29, 2006 |
The brokerage unit of Prudential Financial Inc. on Monday admitted criminal wrongdoing and agreed to pay $600 million to settle government investigations of allegations that its brokers engaged in improper mutual fund trading.
August 17, 2006 |
Securities regulators investigating Berkshire Hathaway Inc.'s reinsurance units are examining transactions involving St. Paul Cos. and former subsidiaries of Prudential Financial Inc., a filing shows. Berkshire's General Re Corp., the largest U.S. reinsurer, briefed the Securities and Exchange Commission about the deals June 13, the Stamford, Conn.-based company said in a second-quarter filing with state insurance regulators.
February 9, 2005 |
Prudential Financial Inc., the second-largest U.S. life insurer, said its fourth-quarter earnings fell, in part because of losses related to hedges it made in foreign currencies. The insurer said net income fell to $317 million, or 64 cents a share, from $481 million, or 92 cents, a year earlier. The Newark, N.J.-based insurer posted gains in business units like insurance and asset management, but profit was hurt by the U.S.
September 8, 2004 |
Prudential Financial Inc.'s Edward Yardeni, one of the most bullish strategists on Wall Street, said Tuesday that he had left the firm to join Oak Associates Ltd., a money manager that oversees more than $8 billion in assets. Yardeni, 54, will be chief investment strategist at Akron, Ohio-based Oak Associates, a firm that manages mutual fund, pension and endowment assets. He held the same title at the brokerage unit of Prudential, where he had worked since 2002.
July 22, 2004 |
Prudential Financial Inc. fired 4% of the people in its institutional trading and sales group to cut costs, the company said Wednesday. Twenty-seven people were fired from the company's institutional equity research, trading and sales group, Prudential spokesman Jim Gorman said. About 600 people remain, including 53 analysts, he said. Prudential, a life insurance company based in Newark, N.J., sold its retail brokerage business to Wachovia Corp.