Insurance company Prudential Financial Inc (PRU - Get Report) said on Thursday that it is reorganizing its U.S. businesses, placing five units into three groups, focused on varying customer needs. 

The three resulting units will be individual solutions, workplace solutions, and investment management. The individual solutions unit will comprise the annuities and individual life insurance businesses. Workplace solutions will include the retirement and group insurance units.

The changes are effective starting from the fourth quarter of 2017.

Shares of Prudential Financial were higher during Thursday morning trading.

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