UPDATE 1-Prudential Financial's oper profit beats estimates

(Adds details on quarterly results, shares)

Feb 7 (Reuters) - Prudential Financial Inc, the largest U.S. life insurer by assets, on Wednesday reported a 7.6 percent rise in quarterly operating profit that topped analysts' estimates, helped by higher policy fees in its annuities business.

Prudential's adjusted operating profit was $1.17 billion, or $2.69 per share, in the fourth quarter ended Dec. 31, up from $1.09 billion, or $2.46 per share, in the year-earlier period.

Analysts were expecting earnings per share of $2.65, according to Thomson Reuters I/B/E/S.

Adjusted operating income from the company's individual annuities business rose 28 percent to $541 million.

Prudential's total assets under management rose to $1.39 trillion as of Dec. 31 from $1.26 trillion a year earlier.

The company also booked a one-time gain of $2.87 billion in the quarter related to the new U.S. tax law.

Shares of the insurer were up 1.60 percent at $112.95 in extended trading. (Reporting by Suzanne Barlyn in New York and Diptendu Lahiri in Bengaluru; Editing by Anil D'Silva)