Prudential’s International Insurance Aims to Expand Reach

Raymond Anderson - Author

Nov. 20 2020, Updated 2:14 p.m. ET

Life planner operations

In 4Q17, Prudential Financial’s (PRU) life planner operations’ adjusted operating income fell to $383 million from $395 million in 4Q16 due to foreign currency exchange, policies, and increased expenses. In 4Q17, life planner operations’ claims were in line with expectations. The international insurance division’s adjusted operating income rose to $777 million in 4Q17 from $755 million in 4Q16.

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Gibraltar Life

Prudential Financial’s Gibraltar Life and Other operations’ adjusted operating income rose to $394 million in 4Q17 from $360 million in 4Q16, mainly due to business momentum and policies.

What lies ahead for this division?

Prudential Financial aims to expand its reach in Japan and improve distribution capabilities in emerging markets. The company expects marginal life planner product growth in Japan and foresees its Gibraltar Life consultant count falling. In 2017, Prudential’s price-to-cash flow ratio was 3.3x, while peers (XLF) MetLife (MET), Aflac (AFL), and The Hartford (HIG) had ratios of 4.0x, 5.7x, and 8.5x, respectively.

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