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Pru Says CIGNA Retirement Integration Going Well

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NU Online News Service, July 1, 2004, 5:25 p.m. EDT

Prudential Financial Inc., Newark, N.J., says efforts to absorb a large retirement services business it recently acquired from CIGNA Corp., Philadelphia, are going well.[@@]

Prudential has completed most of the changes it wants to make to its retirement unit’s management team, and it now is focusing on efforts to reach out to employers and financial advisors, the company says.

The company is updating its menu of stable-value investment products, adding sub-advised institutional funds alongside registered mutual funds, introducing an asset-allocation program, and adding Web-based statements for plan participants.

Prudential also is creating a Premier Relationship Program for top advisors, the company says.