(Bloomberg) — Prudential Financial Inc. posted a second-straight quarterly loss and said it expects low interest rates will continue to weigh on results.The life insurer posted a net loss of $2.41 billion, compared with net income of $708 million a year earlier. The loss was driven in part by a decline in the value of its derivatives holdings due to tightening credit spreads. Asset-management unit PGIM was a bright spot.Key InsightsPrudential is looking to weather a low-interest-rate environment by repricing and pivoting to less rate-sensitive products, it said in an earnings statement Tuesday. The company cut its long-term forecast for …read more
Source:: Yahoo Finance
