Prudential profit misses mark on weaker individual life, annuities units
August 1, 2019 by Bharath Manjesh
(Reuters) – U.S. life insurer Prudential Financial Inc (PRU.N) fell short of analyst estimates for quarterly profit on Wednesday, hurt by weakness in its U.S. individual life insurance and annuities businesses.
Prudential’s U.S. individual life insurance segment reported an adjusted operating loss of $135 million, compared to operating income of $43 million in the year-ago quarter.
Adjusted operating income at its annuity segment fell 9% to $462 million.
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Originally Posted at Reuters on July 31, 2019 by Bharath Manjesh.
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