Prudential Gains on Pension-Risk Transfers; Profit Jumps 22%By
Insurer lifts dividend by 5 cents to 75 cents a share
Account values climb in retirement unit on pension deals
For many large companies, the pension promises that were made years ago to employees became a large and distracting headache. For Prudential Financial Inc., these retirement plans are a pathway to growth.
Account values at the retirement unit climbed by $17 billion in 2016 to $386 billion as of Dec. 31., the Newark, New Jersey-based company said Wednesday in a statement. That helped Prudential’s fourth-quarter operating profit climb 22 percent to $1.09 billion…
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