Articles
Prudential to exit emerging markets and shift $3B to core businesses
Prudential Financial will narrow its global footprint, exit emerging markets and redirect more than $3 billion in capital toward retirement, asset management and U.S. insurance businesses. The overhaul represents the latest sweeping strategy employed by CEO Andy Sullivan in his second year leading the venerable insurer. It is aimed at accelerating earnings growth and improving […]
Corebridge annuity sales slip ahead of Equitable marriage
Corebridge Financial experienced lower annuity sales in the second quarter, but leadership remains focused on its long-term growth prospects as a part of Equitable Holdings. Total company sales declined from a year earlier, Corebridge President and CEO Marc Costantini said, but increased 13% sequentially from the first quarter. On a rolling 12-month basis, sales increased […]
California teachers settle class-action lawsuit over in-plan annuity fees
Three weeks after a federal judge certified a class of California public-school employees in a lawsuit over in-plan annuity fees, the plaintiffs settled with the insurance company. Plaintiff Danielle Krimbow claimed that the Life Insurance Company of the Southwest improperly charged certain annuity rider fees that were not disclosed on the state’s required retirement investment […]
‘Uniquely positioned’: Equitable outlines future post-Corebridge merger
When Equitable Holdings and Corebridge Financial announced their blockbuster merger in May, it left a lot of questions about how the two giants, each with their own areas of strength, would form a cohesive unit. A few more answers came out on Wednesday as both companies, still operating independently while the merger clears regulatory hurdles, […]