How Prudential's Big Tech Bet Went Sour

The Wall Street Journal

In late 2019, Prudential Financial Inc . paid $2.3 billion for a three-year-old data-science startup that promised to modernize the age-old business of selling life insurance.

The deal for Assurance IQ has badly missed its financial targets and left Prudential facing questions from regulators. In February, Prudential said it wrote down the investment by roughly half.

#startup #business #investment #facingquestions

Continue read on wsj.com

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