Prudential Financial (PRU) has announced on Wednesday after tax adjusted operating income of $4.649 billion ($10.04 per common share) for the year ended on December 31, 2015. The Prudential Insurance Company of America is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance. The insurer is also known by its trading name Prudential Financial Inc.
Net income attributable to the share holders has been recorded as $5.642 billion or $12.17 against each common share for the year of 2015. Net earning figure is compared to $1.533 billion or $3.23 against each common share for its financial services business in 2014, according to a news published in Seeking Alpha.
Refinements of reserves in several businesses have updated estimations on profitability reflecting market performance. Integration costs in Individual Life for the acquired Hartford business results in a net negative impact of $0.21 per common share to adjusted operating income, reports Business Wire.
Several of the Prudential's businesses including corporate and other operations have incurred costs in the fourth quarter exceeding average quarterly level for the year. The cost involves technology and business development, annual policy holding communications, advertizing and others. The after tax adjusted operating income for the fourth quarter of 2015 (Q4:2015) of financial services businesses has been estimated $891 million or $1.94 against each common share. This figure has been compared to $1008 billion of $2.12 per common share during the same quarter of the previous year. Meanwhile, net income attributable to Prudential Finance Inc. has been accounted as $735 million or $1.60 against each common share during Q4: 2015. The figure has been compared to a net lost of $1.206 billion for its financial services business during Q4 a year ago. The life insurance provider has also represented a predictive feature on the current fiscal quarter. The pre tax impact for this quarter has been estimated to $175 million that includes $50 million for the US businesses. The projection allocates another $50 million for international businesses. The remainder projected balance has been allocated for corporate and other operations, reports Yahoo Finance. Assets under management has been amounted to be $1.184 trillion on December 31, 2015. It has been compared to $1.176 trillion existed a year earlier. Members of Prudential management are scheduled to host a conference call on Thursday at 11 am. The conference call is believed to discuss its Q4 results with the investment community. The conference call and accompanying slide presentations have also been announced to broadcast live over the Company's Investor Relations Web site at www.investor.prudential.com.
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