Prudential's Prismic Life completes oversubscribed capital raise
The raise of approximately US$1.9 billion exceeded its US$1.6 billion target, expanding capacity for reinsurance opportunities.
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Financial services and insurance company
prudential.comLast updated
In short: Prudential reported strong Q2 earnings while managing a strategic overhaul and severe misconduct issues within its Japanese operations.
The raise of approximately US$1.9 billion exceeded its US$1.6 billion target, expanding capacity for reinsurance opportunities.
Net income was $597 million and adjusted operating income was $1.278 billion.
Results release on May 5; earnings call on May 6 at 11 a.m. ET.
Extension allows time for operational, governance, and organizational changes. Existing customers remain unaffected. Conference call scheduled for investors.
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