The Asset Management segment reported adjusted operating income of $168 million for the current quarter, compared to $52 million in the year-ago quarter. The current quarter contribution to results from the segment’s incentive, transaction, strategic investing and commercial mortgage activities was $79 million greater than in the year-ago quarter, primarily reflecting the inclusion in year-ago quarter results of a $75 million charge for an impairment related to our investment in a real estate fund. Excluding the contribution from these segment activities, Asset Management segment adjusted operating income increased $37 million from the year-ago quarter. This increase came primarily from higher asset management fees reflecting growth in assets under management, net of expenses.The U.S. Individual Life and Group Insurance division reported adjusted operating income of $163 million for the second quarter of 2013, compared to $94 million in the year-ago quarter.
Prudential Financial, Inc. Announces Second Quarter 2013 Results
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