INSURANCE
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Prudential to Overhaul Real Estate Portfolio: The company wants out of the business of investing directly in commercial real estate properties. Prudential Insurance Co. of America, the largest U.S. life insurer, is reviewing its $5.5-billion portfolio of properties with an eye toward swapping them for shares in public and private real estate companies and units in investment partnerships. The move will allow Prudential to take advantage of surging real estate prices while handing over title to these properties to others.
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