Prudential Financial, Inc.

Prudential Financial, Inc.

Tokyo Investor Day

September 11, 2008

Tokyo Investor Day

September 11, 2008

Exhibit 99.0

1

2008 Tokyo Investor Day

Forward-Looking Statements

Certain

of

the

statements

included

in

this

presentation

constitute

forward-looking

statements

within

the

meaning

of

the

U.S.

Private

Securities

Litigation

Reform

Act

of

1995.

It

is

possible

that

actual

results

may

differ

materially

from

any

expectations

or

predictions

expressed

in

this

presentation.

Words

such

as

“expects,”

“believes,”

“anticipates,”

“includes,”

“plans,”

“assumes,”

“estimates,”

“projects,”

“intends,”

“should,”

“will,”

“shall,”

or

variations

of

such

words

are

generally

part

of

forward-looking

statements.

Forward-looking

statements

are

made

based

on

management’s

current

expectations

and

beliefs

concerning

future

developments

and

their

potential

effects

upon

Prudential

Financial,

Inc.

and

its

subsidiaries.

There

can

be

no

assurance

that

future

developments

affecting

Prudential

Financial,

Inc.

and

its

subsidiaries

will

be

those

anticipated

by

management.

These

forward-looking

statements

are

not

a

guarantee

of

future

performance

and

involve

risks

and

uncertainties,

and

there

are

certain

important

factors

that

could

cause

actual

results

to

differ,

possibly

materially,

from

expectations

or

estimates

reflected

in

such

forward-looking

statements,

including,

among

others:

(1)

general

economic,

market

and

political

conditions,

including

the

performance

and

fluctuations

of

fixed

income,

equity,

real

estate,

and

other

financial

markets;

(2)

interest

rate

fluctuations;

(3)

reestimates

of

our

reserves

for

future

policy

benefits

and

claims;

(4)

differences

between

actual

experience

regarding

mortality,

morbidity,

persistency,

surrender

experience,

interest

rates

or

market

returns

and

the

assumptions

we

use

in

pricing

our

products,

establishing

liabilities

and

reserves

or

for

other

purposes;

(5)

changes

in

our

assumptions

related

to

deferred

policy

acquisition

costs,

valuation

of

business

acquired

or

goodwill;

(6)

changes

in

our

claims-paying

or

credit

ratings;

(7)

investment

losses

and

defaults;

(8)

competition

in

our

product

lines

and

for

personnel;

(9)

changes

in

tax

law;

(10)

economic,

political,

currency

and

other

risks

relating

to

our

international

operations;

(11)

fluctuations

in

foreign

currency

exchange

rates

and

foreign

securities

markets;

(12)

regulatory

or

legislative

changes;

(13)

adverse

determinations

in

litigation

or

regulatory

matters

and

our

exposure

to

contingent

liabilities,

including

in

connection

with

our

divestiture

or

winding

down

of

businesses;

(14)

domestic

or

international

military

actions,

natural

or

man-made

disasters

including

terrorist

activities

or

pandemic

disease,

or

other

events

resulting

in

catastrophic

loss

of

life;

(15)

ineffectiveness

of

risk

management

policies

and

procedures

in

identifying,

monitoring

and

managing

risks;

(16)

effects

of

acquisitions,

divestitures

and

restructurings,

including

possible

difficulties

in

integrating

and

realizing

the

projected

results

of

acquisitions;

(17)

changes

in

statutory

or

U.S.

GAAP

accounting

principles,

practices

or

policies;

(18)

changes

in

assumptions

for

retirement

expense;

(19)

Prudential

Financial,

Inc.’s

primary

reliance,

as

a

holding

company,

on

dividends

or

distributions

from

its

subsidiaries

to

meet

debt

payment

obligations

and

continue

share

repurchases,

and

the

applicable

regulatory

restrictions

on

the

ability

of

the

subsidiaries

to

pay

such

dividends

or

distributions;

and

(20)

risks

due

to

the

lack

of

legal

separation

between

our

Financial

Services

Businesses

and

our

Closed

Block

Business.

Prudential

Financial,

Inc.

does

not

intend,

and

is

under

no

obligation,

to

update

any

particular

forward-looking

statement

included

in

this

presentation.

_______________________________________________________________________________

Prudential

Financial,

Inc.

of

the

United

States

is

not

affiliated

with

Prudential

PLC

which

is

headquartered

in

the

United

Kingdom.

2

2008 Tokyo Investor Day

Non–GAAP Measure

This

presentation

includes

references

to

“adjusted

operating

income”

and

“return

on

equity”

(“ROE”).

ROE

is

determined

by

dividing

adjusted

operating

income

after-tax,

annualized

for

interim

periods,

by

average

attributed

equity.

Adjusted

operating

income

is

a

non-GAAP

measure

of

performance

of

our

Financial

Services

Businesses.

Adjusted

operating

income

excludes

“Realized

investment

gains

(losses),

net,”

as

adjusted,

and

related

charges

and

adjustments.

A

significant

element

of

realized

investment

gains

and

losses

are

impairments

and

credit-related

and

interest

rate-related

gains

and

losses.

Impairments

and

losses

from

sales

of

credit-impaired

securities,

the

timing

of

which

depends

largely

on

market

credit

cycles,

can

vary

considerably

across

periods.

The

timing

of

other

sales

that

would

result

in

gains

or

losses,

such

as

interest

rate-

related

gains

or

losses,

is

largely

subject

to

our

discretion

and

influenced

by

market

opportunities

as

well

as

our

tax

profile.

Realized

investment

gains

(losses)

representing

profit

or

loss

of

certain

of

our

businesses

which

primarily

originate

investments

for

sale

or

syndication

to

unrelated

investors,

and

those

associated

with

terminating

hedges

of

foreign

currency

earnings

and

current

period

yield

adjustments

are

included

in

adjusted

operating

income.

Realized

investment

gains

and

losses

from

products

that

are

free

standing

derivatives

or

contain

embedded

derivatives,

and

from

associated

derivative

portfolios

that

are

part

of

an

economic

hedging

program

related

to

the

risk

of

those

products,

are

included

in

adjusted

operating

income.

Adjusted

operating

income

excludes

gains

and

losses

from

changes

in

value

of

certain

assets

and

liabilities

related

to

foreign

currency

exchange

movements

that

have

been

economically

hedged.

Adjusted

operating

income

also

excludes

investment

gains

and

losses

on

trading

account

assets

supporting

insurance

liabilities

and

changes

in

experience-rated

contractholder

liabilities

due

to

asset

value

changes,

because

these

recorded

changes

in

asset

and

liability

values

will

ultimately

accrue

to

contractholders.

Trends

in

the

underlying

profitability

of

our

businesses

can

be

more

clearly

identified

without

the

fluctuating

effects

of

these

transactions.

In

addition,

adjusted

operating

income

excludes

the

results

of

divested

businesses,

which

are

not

relevant

to

our

ongoing

operations.

Discontinued

operations,

which

is

presented

as

a

separate

component

of

net

income

under

GAAP,

is

also

excluded

from

adjusted

operating

income.

We

believe

that

the

presentation

of

adjusted

operating

income

as

we

measure

it

for

management

purposes

enhances

understanding

of

the

results

of

operations

of

the

Financial

Services

Businesses

by

highlighting

the

results

from

ongoing

operations

and

the

underlying

profitability

of

our

businesses.

However,

adjusted

operating

income

is

not

a

substitute

for

income

determined

in

accordance

with

GAAP,

and

the

excluded

items

are

important

to

an

understanding

of

our

overall

results

of

operations.

The

schedule

on

the

following

page

provides

a

reconciliation

of

adjusted

operating

income

to

income

from

continuing

operations

in

accordance

with

GAAP.

For

additional

information

about

adjusted

operating

income

and

the

comparable

GAAP

measure

please

refer

to

our

Annual

Report

on

Form

10-K

for

the

year

ended

December

31,

2007,

our

Current

Report

on

Form

8-K

dated

May

16,

2008

to

retrospectively

adjust

portions

of

the

Company’s

Annual

Report

on

Form

10-K

for

the

year

ended

December

31,

2007,

and

our

Quarterly

Report

on

Form

10-Q

for

the

quarter

ended

June

30,

2008

located

on

the

Investor

Relations

Web

site

at

www.investor.prudential.com.

Additional

historical

information

relating

to

the

Company’s

financial

performance,

including

its

second

quarter

2008

Quarterly

Financial

Supplement,

is

also

located

on

the

Investor

Relations

website.

The

information

referred

to

above

and

on

the

prior

page,

as

well

as

the

risks

of

our

businesses

described

in

our

Annual

Report

on

Form

10-K

for

the

year

ended

December

31,

2007,

and

our

Quarterly

Report

on

Form

10-Q

for

the

quarter

ended

June

30,

2008,

should

be

considered

by

readers

when

reviewing

forward-looking

statements

contained

in

this

presentation.

3

2008 Tokyo Investor Day

International Insurance and Investments Division

Reconciliation between adjusted operating income and the comparable GAAP measure

International Insurance and Investments Division

Reconciliation between adjusted operating income and the comparable GAAP measure

(in millions)

2002

2003

2004

2005

2006

2007

2007

2008

Revenues (1):

Life Planner Operations

2,354

$ 

2,886

$ 

3,404

$ 

4,495

$ 

4,884

$ 

5,414

$ 

2,667

$       

3,066

$       

Gibraltar Life

2,715

2,749

3,004

3,187

2,851

2,844

1,441

1,588

International Investments

245

241

446

487

590

769

346

330

Total revenues

5,314

5,876

6,854

8,169

8,325

9,027

4,454

4,984

Benefits and Expenses (1):

Life Planner Operations

1,975

2,437

2,889

3,674

3,946

4,394

2,145

2,495

Gibraltar Life

2,337

2,379

2,602

2,687

2,361

2,266

1,141

1,293

International Investments

245

257

369

381

447

510

241

278

Total benefits and expenses

4,557

5,073

5,860

6,742

6,754

7,170

3,527

4,066

Adjusted operating income (loss):

Life Planner Operations

379

449

515

821

938

1,020

522

571

Gibraltar Life

378

370

402

500

490

578

300

295

International Investments

-

(16)

77

106

143

259

105

52

Total adjusted operating income before income taxes

757

803

994

1,427

1,571

1,857

927

918

Reconciling Items:

Realized investment gains (losses), net, and related adjustments

(172)

(31)

(32)

169

251

367

161

(372)

Related charges

(16)

(35)

(13)

(89)

(11)

(64)

(8)

-

Investment

gains

(losses)

on

trading

account

assets

supporting

insurance

liabilities,

net

-

-

56

186

28

(99)

54

(112)

Change

in

experience-rated

contractholder

liabilities

due

to

asset

value

changes

-

-

(56)

(186)

(28)

99

(54)

112

Equity in earnings of operating joint ventures

(7)

(15)

(14)

(22)

(28)

(30)

(16)

(14)

Total reconciling items

(195)

(81)

(59)

58

212

273

137

(386)

Income

from

continuing

operations

before

income

taxes,

equity

in

earnings

of

operating

joint ventures, extraordinary gain on acquisition and cumulative effect

of accounting change

562

$    

722

$    

935

$    

1,485

$ 

1,783

$ 

2,130

$ 

1,064

$       

532

$          

Six months ended June 30,

Year ended December 31,

(1)   Revenues exclude realized investment gains, net of losses and related charges and adjustments, investment gains, net of losses, on trading account assets supporting insurance liabilities; and

revenues of divested businesses, and include revenues representing equity in earnings of operating joint ventures.  Benefits and expenses exclude charges related to realized investment gains, net of

losses; change in experience-rated contractholder liabilities due to asset value changes, and benefits and expenses of divested businesses.

International Businesses

Overview

Edward P. Baird

Chief Operating Officer

International Businesses

5

2008 Tokyo Investor Day

International Division

Organizational Structure

Finance

Japanese Life

Planner

Operations

Investment

Management

Gibraltar      

Life

Operations 

and

Technology

Insurance

Operations

Outside Japan

Human

Resources

International

Investments

Businesses

International             

Division

6

2008 Tokyo Investor Day

•

Grow organically and through complementary

distribution channels and opportunistic acquisitions

•

Increasing emphasis on meeting retirement needs

Key Elements of Our International Strategy

•

Needs-based selling

•

Continue building proprietary distribution:

recruiting and selection

•

Historical focus on life insurance

•

Concentrate on a limited number of attractive countries

•

Target the affluent and mass affluent consumer

•

Expanding asset management business

7

2008 Tokyo Investor Day

•

Sustainable AOI growth at solid double-digit rates

•

Sustainable 20% ROE’s

•

Strong free cash flow

•

Complementary group of International businesses

with short and long-term growth potential

International Divisional Goals

8

2008 Tokyo Investor Day

International Division Today

Italy

Poland

Brazil

Argentina

China

India

Mexico

Taiwan

Korea

Life Planning

Insurance

Japan

International

Investments

Traditional

Insurance

9

2008 Tokyo Investor Day

International Division

Key Milestones for International Insurance

2006

2005

2004

2003

2001

1987

TRADITIONAL BUSINESS

LIFE PLANNER BUSINESSES

U.S. DOLLAR LIFE INSURANCE PRODUCT

ACQUIRED AOBA LIFE INSURANCE CO., LTD.

U.S. DOLLAR RETIREMENT

INCOME PRODUCT

BANK CHANNEL /

U.S. DOLLAR FIXED ANNUITY

10

2008 Tokyo Investor Day

Emerging Markets: China

•

Established China Rep Office in Beijing in 1998

•

Minority Interest in China Pacific Life, China’s third

largest life insurance company

–

Investment through a consortium of investors in 2005

–

Shares converted to China Pacific Group in 2007

by the consortium

•

Everbright Pramerica Fund Management Co. Ltd.

–

Formed in 2004 with Everbright Securities

–

5 funds with total assets under management,

$5 billion

(1)

1)

As of June 27, 2008 (U.S. dollar equivalent, translated at the December 28, 2007 FX rate, 7.3RMB/1USD)

11

2008 Tokyo Investor Day

Emerging Markets: India

2 strategic partnerships with DLF, India’s largest real

estate development company

•

DLF Pramerica Life Insurance Company Ltd. (DPLI)

–

Granted R3 license by the Insurance Regulatory

and Development Authority (IRDA) of India,

allowing DPLI to start life insurance operations

•

DLF Pramerica Asset Managers Private Ltd.

–

Formed in December 2007

–

Awaiting approvals from the Securities and  

Exchange Board of India (SEBI) and

the Registrar of Companies (RoC)

12

2008 Tokyo Investor Day

2007

Six months  

ended       

June 30, 2008

International Division Financial Performance

1)

Based on annualized after-tax adjusted operating income for the six months ended June 30, 2008

Adjusted operating income pre-tax:

Life Planner Business

Gibraltar Life

International Insurance

International Investments

International Division

$515

402

917

77

$994

$821

500

1,321

106

$1,427

$938

490

1,428

143

$1,571

$1,020

578

1,598

259

$1,857

$571

295

866

52

$918

Year Ended December 31,

2004

2005

2006

($millions)

23.9%

ROE

(1)

13

2008 Tokyo Investor Day

Competitive Advantage

Life Planning Insurance

•

Life Planner profile similar to

customer profile

•

Life Planner maintains contact with  

client, as trusted professional

•

Identify protection needs before

discussing products

•

Protection life insurance purchased 

as a solution to identified need

•

Variable compensation structure

•

Rewards productivity and persistency

Life Planners

•

Very selective recruiting

•

Highly trained career professional

Needs Based Selling

•

Financial planning approach

•

Emphasis on protection products

Compensation structure

•

Aligns customer/agent/company

interest

14

2008 Tokyo Investor Day

$0

$200

$400

$600

$800

$1,000

$1,200

2003

2004

2005

2006

2007

2Q 07

2Q 08

Life Planner Businesses Pre-Tax AOI

($millions)

449

515

821

938

1,020

522

571

YTD

POJ             All Other

15

2008 Tokyo Investor Day

The Beneficial Cycle

Proven Execution Track Record

Products

Satisfy

Customer

Needs

Sales

Managers

Drive

Recruiting,

Support

Prospecting

Life-Long Customer Relationships

High

Life Planner

Income

High

Customer

Satisfaction

High

Quality

Referral

More

Quality

Recruits

Favorable

Growth

Prospects

Superior

ROE

High Life Planner

Needs-Based

Selling

Retention

Retention

Productivity

Productivity

High Life Planner

Persistency

Persistency

High Policy

16

2008 Tokyo Investor Day

Gibraltar

Life:

“Prudentialized”

Traditional

Model Japanese Life Insurance Company

•

Variable agent compensation

•

Life Planner training principles adapted to

traditional field force

•

Needs-based selling of protection and

retirement products

•

Introduce products targeted to customer base

•

Maintain and cultivate strong affinity group relationships

•

Evolving third party distribution for selected products

17

2008 Tokyo Investor Day

370

402

500

490

578

300

295

$0

$100

$200

$300

$400

$500

$600

$700

2003

2004

2005

2006

2007

2Q 07

2Q 08

Gibraltar Life Pre-Tax AOI

($millions)

YTD

18

2008 Tokyo Investor Day

Enhancing Returns Through Proven Strategies

Investment Portfolio

•

U.S. dollar investments

•

Extending duration

•

Asset class diversification

Access to Prudential Resources

•

Product and distribution channel skills

•

Experience in the U.S. Retirement business

Opportunities for Expense Synergies

•

Shared management resources

•

System integration

•

Common back office platforms

19

2008 Tokyo Investor Day

Positioned for International

Market Developments

Prudential Positioning

Market Development

Lifetime client relationships

Well-established in Retirement

Market through Associations

Innovative, successful U.S.

dollar retirement products

Growing Demand for

Retirement

Accumulation

Products

20

2008 Tokyo Investor Day

Current Population:

127 Million People

% of 65+ Age Group:

22% in 2008

30%

in

2030

(1)

36%

in

2050

(1)

Japan’s Demographic Change

14%

14%

11%

11%

11%

11%

64%

64%

59%

59%

53%

53%

22%

22%

30%

30%

36%

36%

0%

25%

50%

75%

100%

2008

2030

2050

Age 0-14

Age 15-64

Age 65+

1)

Source: Population Projections from Japan’s National Institute of Population and Social Security Research

Rapidly growing

pre-Retirement/

Retirement

Markets

21

2008 Tokyo Investor Day

Needs-Based Selling Over a Lifetime

20           

60+

Client Age

Prudential

Solutions

Premature Death

Premature Death

Retirement

Retirement

Accumulation

Accumulation

Financial Risk

Protection

Needs

Young Household

Pre-Retiree

Retirement

Life Cycle         

Term Insurance

Whole Life

U.S. Dollar Retirement Income

Innovative Annuity Products

Retirement Income

Retirement Income

22

2008 Tokyo Investor Day

$0

$50

$100

$150

$200

$250

2003

2004

2005

2006

2007

Life Planners

Serving Client Needs Through a Lifetime

Prudential of Japan

Second Sales to Existing Customers

(1)

1)

Translated based on constant exchange rate of 106 Japanese yen per U.S. dollar for all periods presented

New

Annualized

Premiums

($millions)

23

2008 Tokyo Investor Day

Positioned for International

Market Developments

Greater Regulatory

Standards Govern

Product Distribution

Full-time, college-educated

Life Planner force

Proven training for all channels

Superior agent retention

Prudential Positioning

Market Development

Growing Demand for

Retirement Accumulation

Products

Lifetime client relationships

Well-established in Retirement

Market through Associations

Innovative, successful U.S.

dollar retirement products

24

2008 Tokyo Investor Day

Positioned for International

Market Developments

Expanding Distribution

Channels

Established bank distribution

relationships

Gibraltar distributors

“seconded”

to Bank Channel

Greater Regulatory

Standards Govern

Product Distribution

Full-time, college-educated

Life Planner force

Proven training for all channels

Superior agent retention

Prudential Positioning

Market Development

Growing Demand for

Retirement Accumulation

Products

Lifetime client relationships

Well-established in Retirement

Market through Associations

Innovative, successful U.S.

dollar retirement products

25

2008 Tokyo Investor Day

Gibraltar Life                                                  

Beyond the Life Advisor Channel

•

Strengthening bank channel distribution by transferring

Life Planners to bank branch based sales

•

Banks now commencing sales of life insurance in

addition to annuity products

•

Well-established relationship with Teachers Association

positions Gibraltar Life to meet the needs of teachers,

including retirement planning

•

New product development opportunities

26

2008 Tokyo Investor Day

Where We Are Today

•

Leadership positions in life planning

•

Gibraltar generates high ROE’s and cash flows

•

Growing asset management platforms

•

Profitability dominated by Japan and Korea

•

Acquisitions potentially additive

•

Expect to achieve our financial goals

•

Expanding retirement businesses

•

Developing multi-channel capabilities

Japanese Insurance Operations

Kazuo Maeda

Co-President

Prudential International Insurance

28

2008 Tokyo Investor Day

Life Insurance Market in Japan

•

•

Total population of Japan is 127

Total population of Japan is 127

million

million

(#10 in the world)

(#10 in the world)

(1)

•

•

Total GDP is $4.3 trillion (#2)

Total GDP is $4.3 trillion (#2)

(2)

•

•

Total life insurance premium is

Total life insurance premium is

$362 billion (#2

$362 billion (#2)

(3)

•

•

Total life insurance premium is

Total life insurance premium is

8.3% of GDP

8.3% of GDP

(3)

•

•

88% of households have

88% of households have

life insurance

life insurance

(4)

1)

As of July 1, 2008; provisional estimate, Statistics Bureau, Ministry of Internal Affairs and Communications.  (Japanese government)

2)

For the year ended December 31, 2006; nominal gross domestic product, based on Annual Report on National Accounts, Cabinet Office. (Japanese government)

3)

For

the

year

ended

March

31,

2007;

based

on

Sigma

Report

No.

4

/2007,

World

Insurance

in

2006,

Swiss

Reinsurance

Company.

4)

As of April-June 2006, according to Japan Institute of Life Insurance.

29

2008 Tokyo Investor Day

INDUSTRY

Business in-force

down 19%

in

five-year

period

(1)

Number

of

in-force

policies up 80%

in

five-year

period

(1)

Annuity account

balances up 29%

in

five

year

period

(1)

Life Insurance Industry in Japan

Death

Protection

“Third-

Sector”

Medical

Coverage

Retirement

and Savings

1)

Based on Japanese statutory reporting; comparison for fiscal years ended March 31, 2008 and March 31, 2003.

2)

Based on annualized new business premiums at constant exchange rate of 106 Japanese yen per U.S. dollar

PRUDENTIAL

Business in-force

up 10%

in

five

year

period

(1)

Number

of

in-force

riders

and policies up 58%

in

five-year

period

(1)

U.S. dollar retirement income

and fixed annuities:

none in 2003, 27%

of

new

business

in

2007

(2)

30

2008 Tokyo Investor Day

Japanese Life Insurance

Industry Developments

•

Growing demand for retirement and savings products

•

Current regulatory environment requires higher

standards for distributing insurance products

•

Recent regulations allow growth of bancassurance

31

2008 Tokyo Investor Day

Japanese Life Insurance

Industry Developments

•

•

U.S. dollar fixed annuities offer

U.S. dollar fixed annuities offer

attractive value proposition for

attractive value proposition for

customers and favorable returns

customers and favorable returns

for Prudential

for Prudential

•

•

Prudential resources and experience

Prudential resources and experience

in U.S. retirement market support

in U.S. retirement market support

development of innovative

development of innovative

retirement solutions

retirement solutions

•

•

Needs-based selling principles applied

Needs-based selling principles applied

to retirement market

to retirement market

•

•

Life Planners cultivate lifetime

Life Planners cultivate lifetime

customer relationships

customer relationships

•

•

Associations offer effective

Associations offer effective

distribution platform

distribution platform

Growing demand for retirement

Growing demand for retirement

and savings products

and savings products

•

•

Japanese “baby boomer”

Japanese “baby boomer”

demographics:

demographics:

expect more than 40% increase

expect more than 40% increase

in 65+ age cohort over

in 65+ age cohort over

25

25

years

years

(1)

(1)

•

•

Strains on government pension

Strains on government pension

programs lead to growing

programs lead to growing

individual responsibility

individual responsibility

for retirement

for retirement

Prudential Positioning

Development

1)

Source: Population Projections from Japan’s National Institute of Population and Social Security Research

32

2008 Tokyo Investor Day

Japanese Life Insurance

Industry Developments

•

•

Professional fulltime Life Planners

Professional fulltime Life Planners

•

•

Life Planner training principles adapted

Life Planner training principles adapted

to Life Advisors

to Life Advisors

•

•

Needs-based selling principles cover

Needs-based selling principles cover

both death protection and retirement

both death protection and retirement

Current regulatory environment

Current regulatory environment

requires higher standards for

requires higher standards for

distributing insurance products

distributing insurance products

•

•

Suitability: documented

Suitability: documented

communications to protect

communications to protect

customer’s interests

customer’s interests

•

•

Illustrations: professional skills

Illustrations: professional skills

required to explain risks and

required to explain risks and

benefits, avoid customer

benefits, avoid customer

misunderstandings

misunderstandings

Prudential Positioning

Development

33

2008 Tokyo Investor Day

Japanese Life Insurance

Industry Developments

•

•

Successful bank relationships

Successful bank relationships

established based on U.S. dollar

established based on U.S. dollar

fixed annuity products

fixed annuity products

•

•

Specially-trained Life Advisors

Specially-trained Life Advisors

assigned to bank channel

assigned to bank channel

•

•

Protection products introduced in

Protection products introduced in

bank channel, 2008

bank channel, 2008

Recent regulations allow growth

Recent regulations allow growth

of bancassurance

of bancassurance

•

•

Annuity and savings products

Annuity and savings products

(2002)

(2002)

•

•

Single premium whole life and

Single premium whole life and

endowment (2005)

endowment (2005)

•

•

“Protection”

insurance

insurance

products-

products-

e.g. term (2007)

e.g. term (2007)

Prudential Positioning

Development

“Protection”

“Protection”

34

2008 Tokyo Investor Day

4,197

4,197

9

9

4,861

4,861

6

6

6.  Prudential

6.  Prudential

124,121

66,727

Industry

Total

(3)

100,686

52,274

Subtotal

3,709

10

2,334

10

10. Fukoku

2,038

13

2,615

9

9.  Tokyo Marine Holdings

3,537

11

3,803

8

8.  Sony Life

16,086

4

4,483

7

7.  Meiji-Yasuda

2,602

2,602

2,808

2,808

(POJ)

(POJ)

1,595

1,595

2,053

2,053

(Gibraltar)

(Gibraltar)

4,533

8

5,191

5

5.  AIG

7,316

6

6,202

4

4.  T&D Financial

25,243

1

6,451

3

3.  Nippon

16,166

3

7,431

2

2.  Sumitomo

17,862

2

8,904

1

1.  Dai ichi

Billion Yen

Ranking

Billion Yen

Ranking

Ranking

by

New

Business

Amount

(2)

FY2007

(Individual

+

Annuity)

(1)

FY2002

(Individual

+

Annuity)

(1)

1)

New business on Individual life and annuity contracts including net increase by conversions

2)

According to Life Insurance Association of Japan

3)

Excluding Japan Post Insurance

Overall Position –

New Business (Face Amount)

35

2008 Tokyo Investor Day

Maintain Two Distinct Brands

•

•

Expand bank distribution

Expand bank distribution

from successful U.S. dollar

from successful U.S. dollar

fixed annuity base to

fixed annuity base to

protection products

protection products

•

•

Platform for further

Platform for further

expansion of products

expansion of products

and distribution

and distribution

Protection life insurance and

Protection life insurance and

retirement/savings products

retirement/savings products

sold by Life Advisors to mid-

sold by Life Advisors to mid-

market and affinity groups

market and affinity groups

Gibraltar Life

Gibraltar Life

Prudential

Prudential

of Japan

of Japan

Needs-based sales of

Needs-based sales of

retirement/savings

retirement/savings

products to mass affluent

products to mass affluent

and affluent markets

and affluent markets

Opportunities

Opportunities

Protection life insurance

Protection life insurance

sold by full-time Life

sold by full-time Life

Planners to mass affluent

Planners to mass affluent

and affluent markets

and affluent markets

Market

Market

Emphasis

Emphasis

36

2008 Tokyo Investor Day

Synergy Initiatives

Management Efficiency

Gibraltar Life

Prudential

of Japan

Financial Performance

•

Systems integration

•

Common platform for:

•

Insurance administration

•

Financial reporting

•

Risk management

•

Compliance & Internal controls

•

Human Resources

•

Business strategy –

two distinct brands

•

Shared resources –

senior management and

marketing officers

37

2008 Tokyo Investor Day

Growth in Japan Operations

Adjusted Operating

Income ($ millions)

Number of

Number of

LPs & LAs

LPs & LAs

POJ and Gibraltar Combined

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

0

200

400

600

800

1,000

1,200

1,400

1,600

# of LA

# of LP

Adjusted Operating Income

38

2008 Tokyo Investor Day

Distribution Strength in Selected Markets

Prudential of Japan

Life Planners

Gibraltar Life

Advisors

First half 2008 : $528 million new business

annualized premiums

(1)

1)

Translated based on constant exchange rate of 106 Japanese yen per U.S. dollar

41%

54%

5%

Bank Distribution

39

2008 Tokyo Investor Day

Japanese Insurance Operations Overview

1)

In millions

2)

At end of period

3)

Translated based on constant exchange rate of 106 Japanese yen per U.S. dollar for all periods presented

$528

$459

$890

$892

Annualized new business

premiums

(1)(3)

8,978

8,827

9,332

8,900

Number of Life Planners/

Life Advisors

(2)

$762

$730

$1,418

$1,273

295

300

578

490

Gibraltar Life

$467

$430

$840

$783

Prudential of Japan

2008

2007

2007

2006

Pre-tax adjusted operating income

(1)

Six months ended

June 30,

40

2008 Tokyo Investor Day

Prudential of Japan

•

•

Face amount in force, $244 billion

Face amount in force, $244 billion

(1) (2)

•

•

$24.8 billion in assets

$24.8 billion in assets

(1) (2)

•

•

84 agency offices

84 agency offices

(1)

•

•

Ratings: Standard & Poor’s, AA

Ratings: Standard & Poor’s, AA

•

•

Ranked #1 in Japan for number of

Ranked #1 in Japan for number of

Million Dollar Round Table

Million Dollar Round Table

members in each of

members in each of

the past 11 years

the past 11 years

1)

As of June 30, 2008

2)

Translated based on exchange rate of 106 Japanese yen per U.S. dollar

–

Agency Offices

41

2008 Tokyo Investor Day

Business Model

Life Planner –

Needs-Based Selling

•

Life Planner –

a selective, high quality sales force

•

Only about 3 out of 100 candidates are hired

•

Well trained and professional

•

Customer focused

•

Disciplined, and demonstrates “missionary zeal”

•

Profile of a typical POJ new Life Planner

–

Age 32 years old

–

College graduate

–

Good sales experience outside the life insurance industry

–

Married with children

–

First job change

–

POJ policyholder

–

Referred by another POJ Life Planner

–

Annual income in the previous job was about $50,000

42

2008 Tokyo Investor Day

Yen-based protection

products

(2)

Yen-based savings

and retirement

income products

(5)

U.S. Dollar-based

products

(3)

In-force Annualized Premium Mix

as

of

June

30,

2008

(1)

New Business Annualized Premium Mix

6

months

ended

June

30,

2008

(1)

Third

Sector

(4)

19%

50%

16%

15%

32%

38%

14%

16%

1)

Includes single premium business at 10%

2)

Primarily whole life and term

3)

Primarily whole life and retirement income

4)

Cancer, medical, accident and sickness; primarily riders

5)

Primarily retirement income

Prudential of Japan

Emphasis on Protection Products

43

2008 Tokyo Investor Day

Prudential of Japan

Positioned for Second Sales Serving Retirement Needs

20            30          40          50          60+

Client Age

Death

Protection

Needs

Focused

Focused

on

on

Mass

Mass

Affluent/

Affluent/

Affluent

Affluent

Market

Market

•

Lifetime client relationships

•

Needs-based selling through client lifecycles

•

Innovative products serve evolving needs

Retirement

Income

Needs

44

2008 Tokyo Investor Day

Prudential of Japan

History of Growth

Growth of Business and LPs

Number of life insurance

Number of life insurance

policies in force

policies in force

(thousands)

(thousands)

Number of LPs

Number of LPs

0

500

1,000

1,500

2,000

2,500

3,000

3,500

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

Number of LPs

Number of Policies

Aoba Life adds

Aoba Life adds

350,000 life

350,000 life

insurance

insurance

policies

policies

45

2008 Tokyo Investor Day

Prudential of Japan

Key Drivers

(1)

6.7

Productivity

(2)

71.3%

24 –

month

82.7%

12 –

month

Life Planner Retention

90.5%

25 –

month

95.0%

13 –

month

Policy Persistency

(Face-amount)

1)

Measured as of or for the year ended December 31, 2007

2)

Policies sold per Life Planner, per month; includes medical and cancer policies.

46

2008 Tokyo Investor Day

Prudential of Japan

Outlook

•

Continued demand for death protection insurance

•

Customers increasingly selective of insurers

•

Evolving strategies

•

“Business insurance”

continues to be sales growth

opportunity for mass affluent and affluent markets

Medical insurance, nursing care, and

Medical insurance, nursing care, and

variable annuities

variable annuities

Death Protection

Death Protection

(market)

(market)

Needs-based, innovative retirement

Needs-based, innovative retirement

accumulation products (e.g. U.S. Dollar

accumulation products (e.g. U.S. Dollar

Retirement Income) support “second sales”

Retirement Income) support “second sales”

Death Protection

Death Protection

(POJ)

(POJ)

47

2008 Tokyo Investor Day

Gibraltar Life

•

•

Strong affinity group relationships

•

Growing bancassurance

business

•

Face amount in force, $184 billion

(1) (2)

•

•

$35 billion in assets

(1) (2)

•

499 sub-branch offices

(1)

•

Ratings: Standard & Poor’s, AA

Moody’s, Aa3

1)

As of June 30, 2008

2)

Translated based on exchange rate of 106 Japanese yen per U.S. Dollar

-

Sub-branch

Offices

48

2008 Tokyo Investor Day

Business Model

Life Advisor –

Strong Affinity Group Relationship

•

Acquired by Prudential Financial in 2001

•

Expanded Life Advisor distribution

•

Leveraging Life Planner model to improve key drivers

•

Wider geographic coverage than POJ to meet market needs

and affinity group reach

•

Teachers Association market generates steady mortality gain

(term insurance) and opportunity to capture retirement money

•

Offering wide range of products to customers (Death Protection,

Medical, Endowment and U.S. Dollar Fixed Annuities)

49

2008 Tokyo Investor Day

Life Advisor Distribution

•

Selection criteria designed for sales in affinity

group market

•

Candidates often introduced by successful Life Advisors

Selective Recruiting Standards

Training: Adapted From Life Planner System

•

Basic training adapted from Prudential of Japan

•

Tailored to accommodate affinity group

Assignment to Affinity Groups

50

2008 Tokyo Investor Day

Affinity Group Relationships

Teachers Association

•

Relationship since 1952

•

Approximately 500,000

members and retirees

•

Access to

over 1 million teachers

and 37,000 schools

Other associations, including:

•

Shoko (Small Business

Owners Association)

•

Food Hygiene Association

•

Japanese Social

Welfare Foundation

•

Beauticians Association

•

Self Defense Force

51

2008 Tokyo Investor Day

Business Model

Third Party Distribution –

Expansion of Bank Channel

•

Commenced bank distribution in 2005

•

Disciplined entry and expansion in the

bancassurance

market

•

U.S. dollar fixed annuities: a bank channel

success story

•

Regulatory changes provide upside business

opportunities for other retirement products and

death protection products

•

Needs-based selling model is a key credential

in the bank channel

52

2008 Tokyo Investor Day

First Half 2007

First Half 2008

New Business

Annualized

Premiums

(1)

Bank

Distribution

1)

Translated based on constant exchange rate for all periods presented of 106 Japanese yen per U.S. dollar; single premium business included at 10% credit

2)

Term, recurring premium whole life, riders

3)

U.S. dollar whole life and retirement income

4)

Single premium life; endowment

Yen-based protection

Yen-based protection

products

products

(2)

(2)

U.S. dollar-based

U.S. dollar-based

protection products

protection products

(3)

(3)

Yen-based savings

Yen-based savings

and retirement

and retirement

income products

income products

(4)

(4)

U.S. dollar fixed

U.S. dollar fixed

annuities

annuities

$176M

$243M

Bank 

Distribution

Gibraltar Life: U.S. Dollar Fixed Annuities

Complement Product Line

53

2008 Tokyo Investor Day

Gibraltar Life “Prudentialized”

Key

Drivers

(1)

Gibraltar

Gibraltar

POJ

POJ

31.1%

71.3%

24 –

month

52.7%

82.7%

12 –

month

Life Advisor Retention

87.9%

90.5%

25 –

month

91.7%

95.0%

13 –

month

Policy Persistency

(Face-amount)

3.5

6.7

Productivity

(2)

1)

Measured as of or for the year ended December 31, 2007

2)

Policies sold per Life Planner / Life Advisor, per month; includes medical and cancer policies

54

2008 Tokyo Investor Day

Bank Business Overview

•

Competitive U.S. dollar fixed annuity product formed

foundation for relationships

•

Developing channel access for full

deregulation opportunities

–

Leveraging Prudential’s third-party channel expertise to

complement annuities with death protection products

–

Over 100 POJ Life Planners transferred to

Gibraltar

Life,

2007

–

2008;

now

assuming

full-time

bank channel sales responsibilities

•

Seeking expansion of bank network

55

2008 Tokyo Investor Day

Summary

•

Life Planner model offers sustainable competitive advantages

•

Needs-based selling, emphasis on protection products

•

Capture additional sales by emphasizing retirement needs

of existing and new customers

•

Superior policy persistency contributes to returns

•

Gibraltar Life leverages Life Planner model attributes

in affinity group and mid-market customer base

•

Growing distribution through banks and associations

•

Business model well-suited to changing landscape

International Insurance Finance

John Hanrahan

Chief Financial Officer

International Businesses

57

2008 Tokyo Investor Day

Drivers of Sustainable Financial Performance

•

Favorable mortality margins drive strong

returns

•

High ROE products generate substantial

excess capital

•

Capital management opportunities enhance

overall returns

•

Duration lengthening supported by long-term

nature of liabilities contributes to returns

•

U.S. dollar investing: Natural hedge for

Prudential, enhancing portfolio returns

•

Strong persistency drives revenue growth

•

Margins earned throughout in-force period

•

Business growth increases scale benefits

Needs-Based Selling

Capital Management

Emphasis on Protection Products

Investment Portfolio Strategies

58

2008 Tokyo Investor Day

YTD

Prudential of Japan

Number of Individual Policies In-force

In thousands

1)

Individual Life and Annuities

(1)

2,258

2,144

1,914

1,774

500

1,500

2,500

2Q 07

2Q 08

1,820

1,956

2,074

2,194

1,348

1,690

1,838

1,180

1,037

1,538

500

1,500

2,500

2002

2003

2004

2005

2006

2007

Total POJ

POJ excluding Aoba business

59

2008 Tokyo Investor Day

$ millions

International Insurance

Pre-Tax AOI

1,598

1,428

1,321

917

819

757

$0

$500

$1,000

$1,500

$2,000

2002

2003

2004

2005

2006

2007

Life Planner Business

Gibraltar Life

866

822

$0

$500

$1,000

$1,500

$2,000

2Q 07

2Q 08

YTD

60

2008 Tokyo Investor Day

Yen-based protection

products

Yen-based savings

and retirement

income

products

U.S. Dollar-based

products

In-force Annualized Premium Mix

as

of

June

30,

2008

(1)

New Business Annualized Premium Mix

6

months

ended

June

30,

2008

(1)

Third

Sector

19%

50%

16%

15%

32%

38%

14%

16%

1)

Includes single premium business at 10%

2)

Primarily whole life and term

3)

Primarily whole life and retirement income

4)

Cancer, medical, accident and sickness; primarily riders

5)

Primarily retirement income

Life Planner Business

Emphasis on Protection Products

Prudential of Japan

(2)

(3)

(4)

(5)

61

2008 Tokyo Investor Day

Yen-based protection

products

Yen-based savings

and retirement

income

products

U.S. Dollar-based

insurance products

In-force Annualized Premium Mix

as

of

June

30,

2008

(1)

New Business Annualized Premium Mix

6

months

ended

June

30,

2008

(1)

U.S. Dollar

fixed annuities

3%

74%

9%

14%

22%

39%

32%

7%

1)

Includes single premium business at 10%

2)

Includes third sector products

Gibraltar Life

Emphasis on Protection Products

Gibraltar Life

(2)

(2)

62

2008 Tokyo Investor Day

Investment Portfolio Opportunities

Access to Prudential skill sets –

commercial mortgages,

corporate credit

Equities support portion of

long-dated risks

Asset Class

Diversification

Extending asset duration reduces

risk profile relative to long-dated

liabilities while increasing yield

Duration

Lengthening

“Natural hedge”

for GAAP equity

Additional U.S. dollar exposure

related to economic value

U.S. Dollar

Investment Exposure

63

2008 Tokyo Investor Day

U.S. Dollar Product and Investment Strategies

U.S. Dollar

Investments

U.S. Dollar

Denominated

Products

Enhanced

portfolio yield

Natural hedge

for Prudential

Financial, Inc.

Favorable

value

proposition

Favorable

expected

returns

64

2008 Tokyo Investor Day

Improving

Investment

Portfolio

Returns

(1)

1)

Excludes U.S. dollar reinsurance activity, Prudential’s Tokyo office building, and one-time activities

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

$(40)

$(30)

$(20)

$(10)

-

$10

$20

$30

$40

Normalized Investment Spread Amount ($ millions)

Yield

Crediting Rate

Prudential of Japan

65

2008 Tokyo Investor Day

Japan Government Bond Yields

Japanese Portfolio Duration –

AOI Enhancement Opportunities

•

Gibraltar

and

POJ

have

increased

their

yen

portfolio

duration

to

reduce

interest

rate

risk relative to the liabilities.

•

Due to the upward sloping yield curve, increasing duration improves investment yield.

•

The impact on the yield varies with the location on the curve of

the assets

that are bought and sold.

-

0.50

1.00

1.50

2.00

2.50

3.00

1

6

11

16

21

26

31

Maturity (Years)

June 2008 Japan

Government Bond Yield Curve

Gibraltar Portfolio Duration Change

4Q04 –

2Q08

POJ Portfolio Duration Change

4Q04 –

2Q08

POJ liability duration range

Gib

liability duration range

Asset  Duration

66

2008 Tokyo Investor Day

Prudential International Insurance

Japan Portfolios

(1)

Yen Portfolio Duration: 8 years

Yen Portfolio Duration: 11 years

U.S. Treasury Bonds

Government/Government related

(primarily Japanese

Government Bonds)

Investment Grade

Corporate

Bonds

(Aaa,

Aa,

A)

Investment Grade

Corporate Bonds (Baa or BBB)

Commercial Loans

Below Investment Grade

Corporate Bonds

Real Estate

Equity Securities

Short Term

Policy Loans

Other (2)

December 31, 2004

June 30, 2008

1)

Includes U.S. dollar reinsurance activity

2)

“Other”

category includes Trading Account Assets and Other Long-term Investments

0%

21%

9%

1%

2%

3%

2%

2%

3%

7%

50%

1%

23%

8%

2%

2%

5%

0%

2%

4%

6%

47%

67

2008 Tokyo Investor Day

Foreign Currency Income Hedges

•

Yen income hedging plan on 12 quarter rolling basis

•

A strengthening yen helps earnings over the long term

•

Yen forward rates imply future strengthening of the yen

versus the dollar

•

Hedging smoothes the impact on earnings, but does not

eliminate it

•

2008 yen income hedged at a rate of 106 yen / dollar

•

As we generate more income in U.S. dollar (U.S. dollar

investment, U.S. dollar product sales) we have less

exposure to FX movement

4 Yr

Forward

3 Yr

Forward

2 Yr

Forward

1 Yr

Forward

Spot Rate

Rate as of

06/30/08

106.0

103.7

101.0

97.9

95.0

Yen / U.S.$

68

2008 Tokyo Investor Day

Foreign Currency Hedging Program

1)

Japanese yen for U.S. dollar

2)

Through June 30, 2008

"Rolling Hedge" Program

(1)

2008

Average

Spot FX

116

110

108

2007

2006

2005

2004

2008

(2)

106

100

N/A

Average

105

118

112

2009

104

N/A

N/A

?

102

109

108

101

99

106

102

2007

Hedge Rate

69

2008 Tokyo Investor Day

U.S. Dollar Retirement Products

Attractive Value Proposition in a Growing Market

45%

24%

Rates offered reflect yields on U.S. dollar investments;

compare favorably to Japanese yen-based products

U.S.$ Fixed

Annuity

U.S.$ Denominated

Retirement Income

Prudential of Japan

U.S.$ Denominated

Retirement Income

Gibraltar Life

% of First Half 2008

Sales

(1)

Attractive Yields for

Japanese Market

Flexibility

Retirement

Accumulation

Death Protection

Benefits

1)

Based on annualized new business premiums; translation of Japanese yen-based sales at 106

Japanese yen per U.S. dollar

70

2008 Tokyo Investor Day

Mortality

Expense

Investment

Retirement Accumulation Products

Contribute to High Product Portfolio ROE Potential

Targeted 20+% ROE Portfolio

USD

Whole Life

Term

USD

Annuity

USD

Retirement

Income

71

2008 Tokyo Investor Day

Well Capitalized Companies

Moody’s

(1)

Standard & Poor’s

(1)

AA

AA

Aa3

Gibraltar Life

NR

Prudential of Japan

•

High ROE business generates significant excess capital

•

“Net level premium reserves”

achieved at POJ in 2005;

first dividend paid in 2006

•

Gibraltar Life: full amortization of “statutory goodwill”

enhances capital generating capacity

Strong Capital Generation

1)

Insurance claims-paying ratings as of September 2, 2008

72

2008 Tokyo Investor Day

Prudential International Insurance

Capital Redeployment

552

1,021

1,142

672

505

905

419

273

541

151

414

1,104

$0

$500

$1,000

$1,500

2002

2003

2004

2005

2006

2007

After-Tax Adjusted Operating Income

Capital Redeployment

5,438

3,098

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

Cumulative 2002

- 06/30/08

$ millions

73

2008 Tokyo Investor Day

Prudential International Insurance

Capital Management Opportunities

•

Cross entity investments

•

Acquisition and expansion funding

•

Gibraltar subordinated debt repayment

•

Reinsurance

•

Dividends

Life Planners: Lifetime Relationships

Built on Skill and Trust

Nick Miyazaki

Chief Marketing Officer

75

2008 Tokyo Investor Day

Business Model Founded on

Values and Beliefs

Values

Values

Worthy of trust, customer-focused,

Worthy of trust, customer-focused,

helping society, “winning”

helping society, “winning”

for company

for company

Vision

Vision

Most trusted and admired

Most trusted and admired

life insurance company

life insurance company

Mission

Mission

Help customers achieve financial

Help customers achieve financial

security and peace of mind

security and peace of mind

Strategy

Strategy

Fulfill protection needs in

Fulfill protection needs in

customer focused distribution

customer focused distribution

and service based model

and service based model

76

2008 Tokyo Investor Day

Life Planner Values and Beliefs

•

Life insurance protection serves society’s

greater good

•

Financial security and peace of mind are of

great value

•

Customer needs come first; products serve

those needs

•

Continuing, caring service is part of the

customer relationship

•

•

The Life Planner is a trusted advisor

The Life Planner is a trusted advisor

77

2008 Tokyo Investor Day

Critical Success Factors

•

Character and Integrity

•

IQ –

Mental alertness

•

Achievement drive

•

High level of energy

•

Money motivation

•

Staying power

78

2008 Tokyo Investor Day

Life Planner Selection Process

Only the Strong Survive

3%

3%

HIRE

HIRE

3%

3%

Targeted Selection Interview 2

Targeted Selection Interview 2

7%

7%

Targeted Selection Interview 1

Targeted Selection Interview 1

11%

11%

Career Info Program 3

Career Info Program 3

16%

16%

Career Info Program 2

Career Info Program 2

29%

29%

Career Info Program 1

Career Info Program 1

100%

100%

Orientation

Orientation

Percentage of

Percentage of

Initial Group

Initial Group

79

2008 Tokyo Investor Day

Comprehensive Training

Supports Needs-Based Selling

STRUCTURED

TRAINING PROGRAM

Weeks

1 -

4

Weeks 5 -

50

Weeks 51 -

100

Basic

Training

Program

Continuing

Continuing

On the

On the

Job

Job

Training

Training

80

2008 Tokyo Investor Day

Role of the Sales Manager

Life Planner’s Personal Trainer and Coach

•

Performance planning and review

•

“Training by objective”

•

Joint sales activity and monitoring

•

Role-play skill building

The Life Planner’s Success

The Life Planner’s Success

is

is

The Sales Manager’s Success

The Sales Manager’s Success

81

2008 Tokyo Investor Day

“KASH”

Formula

•

Knowledge

•

Attitude

•

Skills

•

Habits

82

2008 Tokyo Investor Day

Sales Cycle

Prospecting

Prospecting

Review

Review

Preparation

Preparation

Sales Interviews

Sales Interviews

Telephoning

Telephoning

83

2008 Tokyo Investor Day

Training Cycle

Performance Review

Performance Review

Role Play

Role Play

Review

Review

Sit Plan

Sit Plan

Role Play

Role Play

Review

Review

Joint Work

Joint Work

(Monitoring)

(Monitoring)

84

2008 Tokyo Investor Day

Compensation System

C = C

C = C

Compensation = Contribution

85

2008 Tokyo Investor Day

Life Planner Compensation

Rewards Productivity and Persistency

32%

22%

46%

Percentage of Overall

Life Planner Compensation

(1)

Compensation = Contribution

1)

Based on year ended December 31, 2007 for Life Planners beyond initial training allowance period

First Year

Commission

Renewal

Commissions

Productivity &

Persistency Bonus

86

2008 Tokyo Investor Day

Standing Behind The Client For a Lifetime

Model Pattern of Lifecycle Income and Expenses

Model Pattern of Lifecycle Income and Expenses

College         Employed;

Married

Primary             Secondary

School              School

Life Cycle of      Pre-

second child      School

College         Employed;

Married

Primary             Secondary

School              School

Life Cycle of      Pre-

first child          

School

52

62

32

42

Wife age                22

55

65

35

45

Husband age          25

Period of return to life as

married couple only

(“empty nest”)

Education of the children,

period in which they

become independent

Marriage

Birth of Children

Pattern of Income

Pattern of Expenses

87

2008 Tokyo Investor Day

The Life Planner Career

•

Strong values and beliefs: protection life insurance

serves society

•

A career that’s “right”

for 3 out of 100 candidates

•

Comprehensive, ongoing training

•

Customer needs drive sales

•

Compensation rewards productivity, persistency

•

Entrepreneurial success while “making the world

a better place”