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Current market conditions are challenging for companies around the world. Our core business models remain intact, however, and our risk diversification and balanced mix of businesses position us well to manage through the current economic environment.
Our business and risk diversification differentiates us from other companies and helps us remain strong even in tough economic times. With our international businesses and domestic insurance businesses—which make up more than half of our capital—driven mainly by mortality risks or by factors that are unrelated to what's happening in the U.S. equity markets, we are able to remain balanced. For example, the risk to our annuities business is that people will live longer and the risk to our insurance business is that people will die earlier. So, in essence, our more than $2.97 trillion of life insurance in force worldwide* balances the risks of many of our businesses, including our variable annuity business. This balance helps us remain a major competitor in the retirement market.
Our specialized investment managers have a global presence and hold strong market positions in each asset class, offering a wide range of products and serving a diversified client base, including corporations, public and private pension plans, and retail clients.
Prudential has approximately $693 billion in assets under management, with $472 billion managed by our asset management businesses.**
We are committed to delivering innovative products that help our clients—both individuals and institutions—achieve their unique objectives. We provide information, advice, and choice on a broad range of asset management, insurance, securities, and employment solutions through a global network of professionals. We are proud to be recognized by millions as a symbol of financial strength, quality, and trust in helping our clients achieve financial security.
* As of 12/31/09
** As of 03/31/10
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