Prudential Financial, Fosun's strategic partner, is No. 1 in FORTUNE^® magazine’s 2012 World’s Most Admired Companies ranking in the Insurance: Life and Health category

FORTUNE^® magazine announced its 2012 World's Most Admired Companies^® list this week, and Prudential earned the No. 1 spot in the Insurance: Life and Health category. Prudential and Fosun announced in 2011 that they had received approval on the preparation to launch a joint venture life insurance company in China.

"We have been steadily climbing up the ranks—from No. 4 in 2009 to No. 1 this year," says Bob DeFillippo, chief communications officer, Prudential Financial. "It's gratifying to be recognized for this important distinction and to be ranked first in our industry on the Most Admired Companies list."

FORTUNE arrived at its rankings by evaluating companies on nine key attributes of reputation, including innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products/services and global competitiveness.

For this year's list, the magazine surveyed 698 companies from 32 countries. Executives, directors and analysts were asked to rate companies in their own industries on the nine criteria.

Prudential earned its highest marks—first or second among our peers—for global competitiveness, long-term investment, innovation, quality of management and people management. The list appears in the magazine’s March 19 issue and can also be viewed online at fortune.com.

FORTUNE^® and America’s Most Admired Companies^® and World’s Most Admired Companies^® are registered trademarks belonging to Time, Inc.