Prudential reports another losing quarter for Assurance IQ
Prudential Financial shared its third quarter results yesterday and while the company delivered “solid financial results,” Assurance IQ just had its highest losing quarter.
Assurance IQ reported a loss, on an adjusted operating income basis, of $55 million in the third quarter, compared to a loss of $30 million in the year-ago quarter. This reflects a 47% increase in revenues that were more than offset by increased expenses to support business growth, Prudential says.
Ever since the acquisition, Assurance IQ has been on a losing streak, reaching $229 million in losses over eight quarters.