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U.S. insurer Prudential's quarterly profit plunges 61 pct
February 8, 2017 / 9:36 PM / 10 months ago

U.S. insurer Prudential's quarterly profit plunges 61 pct

Feb 8 (Reuters) - Prudential Financial Inc, the second-largest U.S. life insurer, reported a 61 percent fall in quarterly profit, hurt by investment losses and charges.

Net profit attributable to the company fell to $284 million, or 65 cents per share, in the fourth quarter ended Dec. 31, from $735 million, or $1.60 per share, a year earlier.

The Newark, New Jersey-based company said its latest quarter’s net income included $824 million of pre-tax net realized investment losses and related charges. (Reporting by Sruthi Shankar in Bengaluru; Editing by Maju Samuel)

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