(Bloomberg) – Prudential Financial Inc., which expanded in recent years by acquiring units from rivals that were narrowing their focus, would be open to additional deals to add blocks of life insurance coverage or pension assets, Chief Executive Officer John Strangfeld said.
“We’re certainly open to those sorts of things,” Strangfeld said Thursday at an annual presentation of the Newark, New Jersey-based company.
Prudential, the second-largest U.S. life insurer, expanded in 2011 in Japan by buying the Star and Edison units from American International Group Inc., which was selling assets to help repay a U.S. bailout. Then in 2013, Strangfeld added a life business from Hartford Financial Services Group Inc., which was simplifying operations after pressure from hedge fund investor John Paulson. More recently, Prudential has taken on pension liabilities and assets from large employers.