Prudential Financial has reported a net income for the Financial Services Businesses attributable to Prudential Financial of $213m, or $0.45 per common share for the fourth quarter of 2010, compared to $1.78bn, or $3.78 per common share for the fourth quarter of 2009.

Net income reflects pre-tax realized losses and related charges and adjustments of $912m, primarily from derivative and embedded derivative fair value changes; including impairments and losses on sales of credit-impaired investments of $161mn.

After-tax adjusted operating income for the fourth quarter of 2010 for the Financial Services Businesses amounted to $861m, compared to $557m for the fourth quarter of 2009.

Net income of its Financial Services Businesses attributable to Prudential Financial was $2.71bn or $5.75 per common share for the year 2010, compared to $3.41bn, or $7.63 per common share for the year 2009.

Prudential Financial chairman and CEO John Strangfeld said that the solid operating results for the fourth quarter and the year reflect sustained organic growth in our key US retirement and international insurance businesses.

"We are pleased to have surpassed significant milestones in the past year including individual annuity account values over $100bn and retirement account values over $200bn, and we see continued growth opportunities in serving clients focused on financial security.

"Our acquisition of AIG Star Life and AIG Edison Life enhances our position as a leading foreign life insurer in Japan, and we look forward to building on our success in serving life insurance protection and retirement needs in the Japanese insurance market as we welcome over three million new clients to Prudential," Strangfeld said.