INSURANCE

Prudential to Reorganize, Cut 200 Jobs: The largest U.S. life insurer announced a reorganization that is expected to eliminate at least 200 jobs, in an effort to save $800 million in the next 18 months. Some of the cuts may be made through attrition. Newark, N.J.-based Prudential Co. of America would not say how many employees would be fired. Prudential Chairman Arthur Ryan said the company restructured its insurance businesses. The changes, which take effect immediately, organize the insurer into seven groups concentrating on individual insurance, money management, securities, health care, private asset management, international insurance and diversified businesses. The reorganization is expected to mean transfers or reassignments for at least 2,000 of the company’s nearly 100,000 employees.