Prudential Reports Strong Performance In 2Q
August 11, 2015 by Business Wire
NEWARK, N.J.–(BUSINESS WIRE)– Prudential Financial, Inc. (NYSE:PRU):
- After-tax adjusted operating income of $1.350 billion, or $2.91 per Common share, compared to $2.49 per Common share for the year-ago quarter.1
- Significant items included in current quarter adjusted operating income:
– Pre-tax net benefit of $117 million from reserve refinements and adjustments of amortization of deferred policy acquisition and related costs reflecting an annual review of actuarial assumptions.
– Pre-tax net benefit of $94 million in Individual Annuities, including release of reserves for guaranteed death and income benefits and reduced amortization of deferred policy acquisition and other costs, reflecting market performance.
– Pre-tax charge of $8 million in Individual Life for integration costs relating to the acquisition of The Hartford’s individual life insurance business.
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