Prudential Financial, Inc

Prudential Financial is a U.S.-based financial services company organized around insurance, retirement, and investment management businesses. Through subsidiaries and affiliates, it offers life insurance, annuities, retirement-related products and services, mutual funds, and asset management across the United States, Asia, Europe, and Latin America.

5,9 %

−13,7 %

— Prudential Financial, Inc
%
PGIM asset management25% Institutional, retail, and affiliated asset management across public and private markets.
Retirement Strategies30% Retirement income, annuity, and related savings solutions for individuals and institutions.
Group Insurance10% Employer-sponsored life, disability, and related protection coverage.
Individual Life10% Protection-oriented life insurance and savings-linked products for individuals.
International Businesses20% Life insurance, savings, and retirement products distributed outside the U.S.
Corporate, Closed Block, and other5% Corporate items, run-off businesses, and legacy closed-block obligations.

Prudential sells to both individual and institutional customers, with products tailored to protection, savings,...

  • Individual protection customersprimary

    Buy life insurance and savings-oriented products for family protection, estate planning, and long-term financial security.

  • Retirement and annuity customersprimary

    Buy retirement income and annuity solutions to convert savings into predictable future income.

  • Institutional asset management clientsprimary

    Buy PGIM public and private market strategies for portfolio management, liability matching, and return generation.

  • Employer and group benefits clientssecondary

    Buy group life and disability coverage as employee benefits and workforce protection.

  • International retail distribution customerssecondary

    Buy insurance and savings products through banks, agents, and affinity channels outside the U.S.

Prudential operates in the United States, Asia, Europe, and Latin America, with the U.S...

  • •United States is the core market for retirement, group, and individual life
  • •Japan is a major market for protection, savings, and annuity products
  • •PGIM serves institutional and retail clients across global markets
  • •Latin America includes bank-distributed insurance, especially in Brazil
  • •Europe is part of the broader international operating footprint

Prudential’s strategy is centered on combining insurance, retirement, and investment management businesses to serve...

01
Expand integrated retirement and protection solutionsmedium-term

The company is built around long-duration savings and protection needs that can be cross-sold across businesses.

02
Scale PGIM and diversify asset management capabilitiesmedium-term

Asset management adds fee-based earnings and supports the broader insurance platform with investment expertise.

03
Broaden international distribution and product reachmedium-term

International channels provide access to large savings and protection markets outside the U.S.

04
Maintain capital flexibility through reinsurance and portfolio managementshort-term

Insurance growth and capital deployment depend on matching liabilities with assets and managing regulatory capital.

Prudential’s earnings and capital are exposed to market, credit, mortality, lapse, and liquidity risks because its...

high

Investment portfolio credit and market risk

The company holds large fixed income, loan, equity, and alternative portfolios that can lose value or default.

Scope
General account investments and PGIM-managed assets
Materiality
high
high

Liquidity pressure from collateral and policyholder behavior

Derivative collateral calls, funding needs, and unexpected withdrawals can create cash demands.

Scope
Derivatives, securities lending, insurance cash flows
Materiality
high
high

Mortality, lapse, and disability experience variance

Insurance profitability depends on actual claims and policyholder behavior versus assumptions.

Scope
Life insurance, annuities, long-term care, disability
Materiality
high
high

Cybersecurity and operational disruption

The business relies on technology, data, and third-party systems to service policies and manage assets.

Scope
Customer servicing, trading, distribution, and back-office systems
Materiality
medium
medium

Regulatory and capital constraints

Insurance subsidiaries must maintain capital levels and may face limits on dividends to the holding company.

Scope
Domestic and international insurance subsidiaries
Materiality
high
Insurance reserves and policyholder liabilities
Affects reserve levels, earnings volatility, and capital
Fair value of investments and derivatives
Affects investment income, OCI, and balance sheet values
Allowance for credit losses and OTTI
Affects realized/unrealized losses and asset carrying values
Goodwill impairment
Could create non-cash impairment charges
Reinsurance and affiliated transactions
Affects reserves, capital usage, and comparability

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: 11/08/2026