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Prudential Sells P-C Units Prudential Financial Inc., the country’s largest life insurer, is selling off its auto and homeowners insurance businesses to Liberty Mutual Insurance Company and Palisades Group for some $673 million in total.

Under the announced agreement with Palisades Group, the Berkeley Heights-based company will buy the Prudential Property and Casualty Insurance Company of New Jersey for $260 million. Boston-based Liberty Mutual will acquire Prudential’s p-c operations in 47 other states as well as in Washington, D.C., for $413 million in notes.

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