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Prudential Financial Considers Scaling Back Life Insurance Business

· 02/05/2021 10:06

03:03 PM EST, 02/05/2021 (MT Newswires) -- Prudential Financial (PRU) is mulling a contraction of its individual life insurance and "market sensitive, low growth" businesses, Chief Executive Officer Charles Lowrey said Friday in a call with analysts while discussing the insurer's Q4 results.

Lowrey said Prudential could look at "blocks of businesses in terms of runoff, reinsurance or sales."

Prudential is also considering "programmatic" mergers and acquisitions opportunities for its asset management arm, PGIM, the insurer's head of US-based businesses Andy Sullivan said in the call.

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