About Prudential OUR FINANCIAL STRENGTH

Prudential Financial is one of the world’s largest financial institutions, with $1.3 trillion in assets under management.1 We have built our company on a proud heritage of life insurance, retirement and asset management. This focus has produced a complementary and diverse set of high-quality businesses.

Our balance sheet is strong, and we have solid capital consistent with our “AA” ratings objectives for our insurance entities. Additionally, we maintain appropriate reserves, capital and risk control procedures to help manage risk and protect our clients' assets. Our insurance company subsidiaries’ financial strength is rated by the major independent rating agencies as follows:

High Financial Strength Ratings2

A.M. Best: A+

Standard & Poor's: AA-

Moody's: A1

Fitch Ratings: AA-

“Pension risk transfer transactions exemplify our capabilities, culture of multi-disciplinary collaboration, and financial strength. It’s not only about pricing. It’s about the confidence a client has in a high-quality close and execution, and doing it on a timely basis. We have very good marks for this in the industry. I doubt that any other insurer has started as early or invested as heavily as we have in this area. . . it involves risks that we know and manage well."

— John R. Strangfeld, Chairman and Chief Executive Officer, Prudential Financial, Inc.

1 As of June 30, 2017

2 The Prudential Insurance Company of America and Prudential Retirement Insurance and Annuity Company, as of August 2, 2017

 Ratings are intended to reflect the financial strength or claims-paying ability of the issuer and are not intended to reflect the investment performance or financial strength of the underlying investments in the Separate Account, GIF, or the PRIAC General Account, which are subject to risk. A.M. Best rates the relative financial strength and operating performance of each insurer in comparison with others. Ratings range from A++ (superior) and A (excellent) to C++ (fair) and C (marginal). Standard & Poor’s rates a company’s claims-paying ability. Ratings range from AAA (superior) and A (good) to BBB (adequate) and B (vulnerable) and CCC (extremely vulnerable). Moody’s Investors Service rates a company’s overall financial strength. Ratings range from Aaa (exceptional) and A (good) to Baa (adequate), B (poor) and Caa (very poor). Fitch’s ratings are assigned to the insurance company’s policyholder obligations, including assumed reinsurance obligations and contract holder obligations, such as guaranteed investment contracts. Ratings range from AAA (exceptionally strong) and AA (very strong) to C (poor). Ratings are subject to review and may change at any time.

Next: Our Commitment