Prudential CEO Lowrey: We’ll manage life business ‘very, very carefully’
August 9, 2022 by John Hilton
Prudential Financial has no plans to exit the life insurance business anytime soon, but will move forward with caution, president and CEO Charles Lowrey said today.
Lowrey lauded the potential in the life insurance business during a second-quarter earnings call with industry analysts. With the final question of the session, Lowrey was asked if Prudential might consider shedding its life segment.
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Wink’s Note: Just about every life insurance company with a block of Guaranteed UL business has contemplated selling at least a portion of their inforce life insurance block of business, as of late.
Could Prudential Financial be next?
The company recently sold a block of their annuity business to Fortitude Re.
For now, Charles F. Lowrey, Jr. says that The Rock believes “there’s a significant potential for growth in the life industry…[and they’ll proceed] very, very carefully as we [they] go forward.” -sjm