Newark, N.J.-based Prudential said operating earnings, which analysts use to measure performance because it excludes investments, were $868 million or $1.85 a share. Analysts on average had expected Prudential to earn $1.65 a share on that basis, according to Reuters Estimates.
MetLife, the largest life insurer in the United States by assets, said that earnings rose in the first quarter, matching analyst estimates, as total premiums, fees and other revenues climbed 6%.
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Prudential is expected to post fourth-quarter earnings of $1.52 a share, according to a Thomson Financial consensus estimate, up from $1.06 a share a year ago.
Citigroup has agreed to buy British insurer Prudential's loss-making Internet bank Egg for 575 million pounds ($1.13 billion) in cash, the two sides said on Monday.