Prudential Financial's adjusted profit falls on international business weakness
Insurer Prudential Financial reported a fall in third-quarter adjusted profit on Wednesday, hurt by weakness in its international business due to less favorable underwriting results and higher expenses. Facing rising claim costs and evolving market pressures, the insurance industry is increasingly tightening policy terms and raising premiums to manage heightened risk. The Newark, New Jersey-based company's international businesses posted an adjusted operating income of $766 million for the third quarter, compared to $811 million in the year-ago quarter.
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