Prudential Financial companies serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the U.S. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises, and relocation services.

Prudential Financial's Common Stock (NYSE:PRU) reflects the performance of its Financial Services Businesses, which consist of its Insurance, Investment, and International Insurance and Investments divisions and its Corporate and Other operations.

Insurance Division
The Insurance Division conducts its business through the Individual Life and Annuities and Group Insurance segments.

Individual Life and Annuities
Individual Life and Annuities manufactures individual variable life, term life, universal life, other non-participating life insurance products and variable and fixed annuities products and distributes primarily to the U.S. retail market through proprietary and third-party distribution channels. In 2003 Prudential acquired Skandia U.S. Inc. ("American Skandia"). American Skandia is the largest distributor of variable annuities through independent financial planners in the United States.The acquisition propels Prudential into a top 10 spot in the annuity marketplace. Prudential's position in the variable annuity marketplace increases from 22nd to 8th as measured by sales (LIMRA 12/31/02) and from 14th to 5th as measured by assets under management (VARDS 12/31/02). This segment also includes the Agency Distribution sales force, which distributes variable and term life, investment and protection products with proprietary and non-proprietary investment options, as well as selected insurance products manufactured by others.

Group Insurance
Group Insurance manufactures and distributes a full range of group life insurance, long-term and short-term group disability insurance, long-term care insurance and corporate- and trust-owned life insurance in the U.S. to institutional clients primarily for use in connection with employee and membership benefits plans. Group Insurance also sells accidental death and dismemberment and other ancillary coverages and provides plan administrative services in connection with its insurance coverages.