Assurance IQ records a $44 million loss in Q3 2022

Prudential Financial announced its Q3 2022 results, sharing that Assurance IQ reported a loss, on an adjusted operating income basis, of $44 million in the quarter, compared to a loss of $55 million in the year-ago quarter. This reflects lower expenses, partially offset by lower revenues, driven by less case referral income.

Assurance IQ now counts 12 consecutive quarters where it has reported a loss. In total, the company lost $381 million since Prudential began disclosing financial information.

In today’s earnings call, there was no mention of Assurance IQ. However, the company included Assurance IQ in the earnings presentation, stating that one of the key priorities is expanding the addressable market with new financial solutions “leveraging the capabilities of Prudential and Assurance IQ.”