Prudential Financial has reported net income of its financial services businesses attributable to Prudential Financial of $589m, or $1.20 per common share, for the first quarter of 2011, compared to $536m, or $1.15 per common, share for the year-ago quarter.
Total revenues for the first quarter of 2011 were $9.2bn, compared with $7.2bn for the same period of 2010.
After-tax adjusted operating income for the financial services businesses of $835m, compared to $676m from year-ago quarter.
The US Retirement Solutions and Investment Management division reported adjusted operating income of $618m for the first quarter of 2011, compared to $496m in the year-ago quarter.
Individual annuity recorded gross sales of $6.8bn, compared to $4.9bn a year ago; net sales $4.8bn, compared to $3.2bn a year ago.
The International Insurance segment reported adjusted operating income of $672m for the first quarter of 2011, compared to $491mn in the year-ago quarter.
Prudential Financial chairman and CEO John Strangfeld said the strong first quarter results were driven by solid performance in the US annuities and asset management businesses and international insurance operations.