Prudential Posts Record Quarterly Profit, Boosted by Investments

Prudential Financial Inc. reported a record quarterly profit that beat analysts’ estimates, driven by a 10% rise in net investment income that was helped by bets on alternative assets.

The insurer posted operating earnings per share of $4.26 in the third quarter, up 28% from a year earlier and above the $3.71 expected on average by analysts, according to data compiled by Bloomberg. Net investment income totaled about $4.9 billion in the quarter, according to results published Wednesday.

Earlier this year, newly minted Chief Executive Officer Andy Sullivan, who took over at the end of March, vowed to prioritize ...