Prudential Takes Stake in AFP Habitat After MetLife's Chile Bet

Prudential Financial Inc., the second-largest U.S. life insurer, is following rivals MetLife Inc. and Principal Financial Group Inc. with a bet on a Chilean pension manager. Prudential agreed to buy about 34 percent to 40 percent of Chilean retirement-fund manager Administradora de Fondos de Pensiones Habitat SA, the Newark, New Jersey-based insurer said yesterday in a statement.

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