Individual Life Has Assumption-Change Headaches: Prudential
August 6, 2019 by Allison Bell
Prudential Financial Inc. is now assuming that some older U.S. individual life insurance policies are going to perform differently than it had originally expected, and that change in assumptions took a $153 million bite out of U.S. individual life results in the second quarter.
Executives from Prudential told securities analysts Thursday that concerns about the problems with old U.S. individual life assumptions are affecting how they price new individual life policies, and could affect how they sell individual life going forward.
Executives from Prudential and Lincoln National Corp. are also starting to talk about the effects lower interest rates might have on their business.
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