Prudential Posts Big Increase in Annuity Sales
November 10, 2018 by Allison Bell
Prudential Financial Inc. says its U.S. individual annuity sales climbed to $2.2 billion in the third quarter, up from $1.3 billion in the third quarter of 2017.
Mark Grier, the vice chairman of the Newark, New Jersey-based company, said Thursday that the increase was due partly to “thoughtful pricing strategies.”
Prudential’s emphasis on financial wellness has also helped increase individual annuity sales, Grier told securities analysts, during a conference call.
The individual annuity business “has a role in our wellness initiative,” Grier said.
The opportunity to put information about retirement income products on the company’s wellness platform has been important for Prudential, Grier said.
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