by John D. Darer CLU ChFC CSSC RSP CLTC
Moody’s recently upgraded The Prudential Insurance Company of America from A2 to A1. This is great news for Prudential structured settlement annuitants, insurers and lawyers who litigate matters involving auto accidents, medical malpractice, airline and aviation related accidents, drug and medical devices, onstruction accidents and the like.
The Newark, NJ based Prudential Insurance Company of America issues structured settlement annuities and has been in existence for 138 years. It is the 2nd largest life insurer in the United States in terms of assets and is admitted in all 50 states.
According to Moody’s, “The upgrade of Prudential’s ratings reflects the company’s improved financial profile and capital position, as well as the steps the company has taken to reduce financial leverage and maintain ample liquidity at the holding company.”
The rating agency noted that the upgrade also reflects Prudential’s strong brand name and leading positions in the U.S. insurance markets for a number of segments, including individual life insurance, variable annuities, group life, and retirement and stable value products.