Prudential Financial Inc., the second-largest life insurer in the country with a significant presence in Massachusetts, posted a $1.64 billion fourth-quarter loss Wednesday, hurt by soured investments.

The loss was equal to $3.85 a share, compared with profit of $792 million, or $1.75 a share, in the year-earlier quarter.

On an adjusted operating basis, Prudential had a loss of $878 million, or $2.04 a share. A year ago, Prudential posted an operating profit of $787 million, or $1.74 a share.

In December, the company forecast an adjusted operating loss of between $1.10 and $1.30 a share in the period, excluding certain items.

Prudential also had a net loss in the third quarter.

"We are very disappointed in our current quarter results," said Chief Executive John Strangfeld, citing "unfavorable" financial and economic conditions.

The latest results included $511 million in net realized investment losses and related charges. Prudential recorded $1.19 billion in writedowns of investments that declined in value and were partially offset by hedging gains. (Reuters)