Old Long-Term-Care Policies Hurt Company Profits

Prudential and MetLife post gains in adjusted operating earnings Prudential Financial’s second-quarter profit tumbled nearly 60% from a year ago in the latest quarter. PHOTO: VICTOR J. BLUE/BLOOMBERG NEWS By Leslie Scism Prudential Financial Inc.’s second-quarter net profit tumbled nearly 60% from the year-earlier period as it bolstered its reserves for long-term-care insurance policies in a product line…