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Chief Executive Officer Robert Benmosche, 69, is focusing on annuities as more Americans approach retirement and competitors including MetLife Inc. limit sales.

U.S. pensions, which control $16 trillion, shifted out of equities and into bonds in the third quarter at the fastest rate since 2008,

The second-largest domestic life insurer posts improved third-quarter results, aided by robust retirement and annuities activity.

Insurer Prudential Financial said Friday it won't try to get regulators to reverse a decision that it is one of a group of financial companies so big that they could threaten the financial system if they were to fail.

Employers have been killing off defined pension plans for years now. But terminating one isn't as easy as simply closing it down.

Prudential Financial has lost its appeal to shed greater government oversight, after regulators made a final decision that the insurer is one of a group of financial companies so big that they could threaten the financial system if they were to fail.

Carriers are still courting specific markets within the United States, including Hispanics, gay couples, up-and-coming Gen Yers, and women.

Experts say the best way for cities and states to get out from under crippling pension debt is to close their pension plans to new hires and move employees to lower-cost defined contribution plans.