Prudential Sells P-C Units Prudential Financial Inc., the country's largest life insurer, is selling off its auto and homeowners insurance businesses to Liberty Mutual Insurance Company and Palisades Group for some $673 million in total.
Under the announced agreement with Palisades Group, the Berkeley Heights-based company will buy the Prudential Property and Casualty Insurance Company of New Jersey for $260 million. Boston-based Liberty Mutual will acquire Prudential's p-c operations in 47 other states as well as in Washington, D.C., for $413 million in notes.
According to figures from Oldwick, N.J.-based A.M. Best Inc. and Prudential's annual financial filings, Prudential's nationwide p-c operations posted $1.57 billion in net written premiums last year, while its New Jersey business had $512 million in 2002 net written premiums.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
