Prudential Financial has received a subpoena from Connecticut attorney general Richard Blumenthal asking for information about its participation in a number of reinsurance transactions.
In a securities filing, the financial services company reported it uses reinsurance "primarily to transfer mortality risk, to acquire or dispose of blocks of business and to manage our capital more effectively."
Prudential said it had started a review of its accounting for reinsurance arrangements prior to receiving the subpoena, in light of news over reinsurance transactions involving other companies.
It said it would cooperate with the investigation.
