August 1, 2018 / 8:35 PM / 3 months ago

Insurer Prudential's profit falls 60 percent

Aug 1(Reuters) - Prudential Financial Inc's quarterly profit fell 60 percent, as the second largest U.S. life insurer took a one-time charge related to sold off businesses.

Prudential said on Wednesday net income attributable to the company fell to $197 million, or 46 cents per share, in the second quarter ended June 30, from $491 million, or $1.12 per share, a year earlier.

The results include a pre-tax charge of $1.6 billion related to divested businesses. (Reporting by Nikhil Subba in Bengaluru; Editing by Sai Sachin Ravikumar)

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