Prudential Financial Inc., the second- biggest U.S. life insurer, said first-quarter profit surged as investment results improved with rising markets.
Net income jumped to $697 million from $14 million in the year-earlier period, the Newark, New Jersey-based company said today in a Business Wire statement. Excluding some results from investments and policies sold before the company went public, the insurer made $1.49 a share, beating the $1.30 average estimate of 17 analysts surveyed by Bloomberg.
PRU:US Prudential Financial Inc
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