Prudential Financial, Inc. Announces Second Quarter 2025 Results
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Net income attributable to Prudential Financial, Inc. of
$533 million $1.48 $1.19 8 billion$3.28 $134 million $0.37 $679 million $1.86
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After-tax adjusted operating income of
$1.28 4 billion$3.58 $1.19 7 billion$3.28 $36 million $0.10 $5 million $0.01
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Book value per Common share of
$85.98 $77.51 $96.41 $98.42
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Parent company highly liquid assets(1) of
$3.9 billion $4.4 billion
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Assets under management(2) of
$1.58 0 trillion$1.48 2 trillion
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Capital returned to shareholders of
$735 million $250 million $485 million $725 million $1.35 5.6% yield on adjusted book value.
Andy Sullivan, CEO, commented on results:
“Our second quarter financial performance reflects continued positive momentum with solid sales across our global retirement and insurance businesses as well as strong investment performance in PGIM.
We remain focused on driving sustainable growth by sharpening our strategy, improving our financial performance, and fostering a high-performance culture.
During the second quarter, we made early progress towards achieving these priorities by launching the integration of PGIM's multi-manager model into a single unified asset management business, including a
Looking ahead, we are focused on driving growth and long-term value for our shareholders, while continuing to navigate the current macroeconomic environment with discipline and the support of our robust financial strength."
Consolidated adjusted operating income and adjusted book value are non-GAAP measures. A discussion of these measures, including definitions thereof, how they are useful to investors, and certain limitations thereof, is included later in this press release under “Non-GAAP Measures,” and reconciliations to the most comparable GAAP measures are provided in the tables that accompany this release.(3)
RESULTS OF ONGOING OPERATIONS
The Company’s ongoing operations include PGIM,
PGIM
PGIM, the Company’s global investment management business, reported adjusted operating income of
PGIM assets under management of
Retirement Strategies, consisting of Institutional Retirement Strategies and Individual Retirement Strategies, reported adjusted operating income of
Institutional Retirement Strategies:
-
Reported adjusted operating income of
$396 million $550 million $164 million
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Net account values of
$298 billion 13% from the year-ago quarter, reflecting the benefits of business growth and market appreciation. Sales in the current quarter of$8.9 billion $5.6 billion the Netherlands . Year-to-date sales of$15.9 billion 6% from prior year-to-date.
Individual Retirement Strategies:
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Reported adjusted operating income of
$326 million $439 million $89 million
-
Net account values of
$132 billion 6% from the year-ago quarter driven by market appreciation, positive net flows from registered index-linked and fixed annuity products, partially offset by net outflows from the run-off of our legacy traditional variable annuity block. Sales of$3.1 billion 10% from the year-ago quarter, as continued momentum in fixed annuities was more than offset by a decrease in sales of registered index-linked products.
Group Insurance:
-
Reported adjusted operating income of
$125 million $121 million $14 million
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Year-to-date sales of
$477 million 13% from prior year-to-date, driven by growth in both group life and disability.
Individual Life:
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Reported adjusted operating income of
$108 million $87 million $156 million
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Sales of
$223 million 10% from the year-ago quarter, driven by higher variable life and term product sales.
International Businesses
International Businesses reported adjusted operating income of
Constant dollar basis sales(4) of
Corporate & Other
Corporate & Other reported a loss, on an adjusted operating income basis, of
NET INCOME
Net income in the current quarter included
Net income for the year-ago quarter included
EARNINGS CONFERENCE CALL
Members of Prudential’s senior management will host a conference call on Thursday, July 31, 2025, at 11:00 a.m. ET to discuss with the investment community the Company’s second quarter results. The conference call will be broadcast live over the Company’s Investor Relations website at investor.prudential.com. Please log on 15 minutes early in the event necessary software needs to be downloaded. Institutional investors, analysts, and other interested parties are invited to listen to the call by dialing one of the following numbers: (877) 407-8293 (domestic) or (201) 689-8349 (international). A replay will also be available on the Investor Relations website through August 14. To access a replay via phone starting at 3:00 p.m. ET on July 31 through August 14, dial (877) 660-6853 (domestic) or (201) 612-7415 (international) and use replay code 13754272.
FORWARD-LOOKING STATEMENTS
Certain of the statements included in this release, including those regarding sustainable growth, earnings performance, the expected impact of organizational changes within PGIM, and long-term value for our shareholders, constitute forward-looking statements within the meaning of the
NON-GAAP MEASURES
Consolidated adjusted operating income and adjusted book value are non-GAAP measures. Reconciliations to the most directly comparable GAAP measures are included in this release.
We believe that our use of these non-GAAP measures helps investors understand and evaluate the Company’s performance and financial position. The presentation of adjusted operating income as we measure it for management purposes enhances the understanding of the results of operations by highlighting the results from ongoing operations and the underlying profitability of our businesses. Trends in the underlying profitability of our businesses can be more clearly identified without the fluctuating effects of the items described below. Adjusted book value augments the understanding of our financial position by providing a measure of net worth that is primarily attributable to our business operations separate from the portion that is affected by capital and currency market conditions, and by isolating the accounting impact associated with insurance liabilities that are generally not marked to market and the supporting investments that are marked to market through accumulated other comprehensive income under GAAP. However, these non-GAAP measures are not substitutes for income and equity determined in accordance with GAAP, and the adjustments made to derive these measures are important to an understanding of our overall results of operations and financial position. The schedules accompanying this release provide reconciliations of non-GAAP measures with the corresponding measures calculated using GAAP. Additional historic information relating to our financial performance is located on our website at investor.prudential.com.
Adjusted operating income is a non-GAAP measure used by the Company to evaluate segment performance and to allocate resources. Adjusted operating income excludes “Realized investment gains (losses), net, and related charges and adjustments”. A significant element of realized investment gains and losses are impairments and credit-related and interest rate-related gains and losses. Impairments and losses from sales of credit-impaired securities, the timing of which depends largely on market credit cycles, can vary considerably across periods. The timing of other sales that would result in gains or losses, such as interest rate-related gains or losses, is largely subject to our discretion and influenced by market opportunities as well as capital and other factors.
Realized investment gains (losses) within certain businesses for which such gains (losses) are a principal source of earnings, and those associated with terminating hedges of foreign currency earnings and current period yield adjustments, are included in adjusted operating income. Adjusted operating income generally excludes realized investment gains and losses from products that contain embedded derivatives, and from associated derivative portfolios that are part of an asset-liability management program related to the risk of those products. Adjusted operating income also excludes gains and losses from changes in value of certain assets and liabilities relating to foreign currency exchange movements that have been economically hedged or considered part of our capital funding strategies for our international subsidiaries, as well as gains and losses on certain investments that are designated as trading. Adjusted operating income also excludes investment gains and losses on assets supporting experience-rated contractholder liabilities and changes in experience-rated contractholder liabilities due to asset value changes, because these recorded changes in asset and liability values are expected to ultimately accrue to contractholders. Adjusted operating income excludes the changes in fair value of equity securities that are recorded in net income. Additionally, adjusted operating income excludes the impact of annual assumption updates and other refinements included in the above items.
Adjusted operating income excludes “Change in value of market risk benefits, net of related hedging gains (losses)”, which reflects the impact from changes in current market conditions, and market experience updates, reflecting the immediate impacts in current period results from changes in current market conditions on estimates of profitability, which we believe enhances the understanding of underlying performance trends. Adjusted operating income also excludes the results of Divested and Run-off Businesses, which are not relevant to our ongoing operations, and discontinued operations and earnings attributable to noncontrolling interests, each of which is presented as a separate component of net income under GAAP. Additionally, adjusted operating income excludes other items, such as certain components of the consideration for acquisitions, which are recognized as compensation expense over the requisite service periods, and goodwill impairments. Earnings attributable to noncontrolling interests is presented as a separate component of net income under GAAP and excluded from adjusted operating income. The tax effect associated with pre-tax adjusted operating income is based on applicable IRS and foreign tax regulations inclusive of pertinent adjustments.
Adjusted operating income does not equate to “Net income” as determined in accordance with
Adjusted book value is calculated as total equity (GAAP book value) excluding accumulated other comprehensive income (loss), the cumulative change in fair value of funds withheld embedded derivatives, and the cumulative effect of foreign currency exchange rate remeasurements and currency translation adjustments corresponding to realized investment gains and losses. These items are excluded in order to highlight the book value attributable to our core business operations separate from the portion attributable to external and potentially volatile capital and currency market conditions.
FOOTNOTES
(1) |
Highly liquid assets predominantly include cash, short-term investments, |
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(2) |
For more information about assets under management, see the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Results of Operations – Segment Measures” included in Prudential Financial, Inc.’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. |
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(3) |
While not a traditional |
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(4) |
For more information about constant dollar basis sales, see the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Results of Operations by Segment – International Businesses” included in Prudential Financial, Inc.’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. |
Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately
Financial Highlights |
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||||||||
(in millions, unaudited) |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2025 |
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2024 |
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2025 |
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|
2024 |
|
Adjusted operating income (loss) before income taxes (1): |
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|
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||||||||
PGIM |
$ |
229 |
|
|
$ |
206 |
|
|
$ |
385 |
|
|
$ |
375 |
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|
|
955 |
|
|
|
1,023 |
|
|
|
1,886 |
|
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|
1,828 |
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International Businesses |
|
761 |
|
|
|
702 |
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|
1,609 |
|
|
|
1,598 |
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Corporate and Other |
|
(280 |
) |
|
|
(371 |
) |
|
|
(695 |
) |
|
|
(806 |
) |
Total adjusted operating income (loss) before income taxes |
$ |
1,665 |
|
|
$ |
1,560 |
|
|
$ |
3,185 |
|
|
$ |
2,995 |
|
Reconciling Items: |
|
|
|
|
|
|
|
||||||||
Realized investment gains (losses), net, and related charges and adjustments |
$ |
(516 |
) |
|
$ |
175 |
|
|
$ |
(762 |
) |
|
$ |
112 |
|
Change in value of market risk benefits, net of related hedging gains (losses) |
|
(426 |
) |
|
|
(297 |
) |
|
|
(777 |
) |
|
|
(174 |
) |
Market experience updates |
|
42 |
|
|
|
47 |
|
|
|
81 |
|
|
|
15 |
|
Divested and Run-off Businesses: |
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|
|
|
|
|
|
||||||||
Closed Block division |
|
(18 |
) |
|
|
(60 |
) |
|
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(40 |
) |
|
|
(63 |
) |
Other Divested and Run-off Businesses |
|
12 |
|
|
|
38 |
|
|
|
(39 |
) |
|
|
3 |
|
Equity in earnings of joint ventures and other operating entities and earnings attributable to noncontrolling interests and redeemable noncontrolling interests |
|
(18 |
) |
|
|
(43 |
) |
|
|
(15 |
) |
|
|
(70 |
) |
Other adjustments (2) |
|
(1 |
) |
|
|
(5 |
) |
|
|
27 |
|
|
|
(13 |
) |
Total reconciling items, before income taxes |
|
(925 |
) |
|
|
(145 |
) |
|
|
(1,525 |
) |
|
|
(190 |
) |
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities |
$ |
740 |
|
|
$ |
1,415 |
|
|
$ |
1,660 |
|
|
$ |
2,805 |
|
Income Statement Data: |
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|
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Net income (loss) attributable to Prudential Financial, Inc. |
$ |
533 |
|
|
$ |
1,198 |
|
|
$ |
1,240 |
|
|
$ |
2,336 |
|
Income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests |
|
33 |
|
|
|
(27 |
) |
|
|
68 |
|
|
|
(14 |
) |
Net income (loss) |
|
566 |
|
|
|
1,171 |
|
|
|
1,308 |
|
|
|
2,322 |
|
Less: Earnings attributable to noncontrolling interests and redeemable noncontrolling interests |
|
33 |
|
|
|
(27 |
) |
|
|
68 |
|
|
|
(14 |
) |
Income (loss) attributable to Prudential Financial, Inc. |
|
533 |
|
|
|
1,198 |
|
|
|
1,240 |
|
|
|
2,336 |
|
Less: Equity in earnings of joint ventures and other operating entities, net of taxes and earnings attributable to noncontrolling interests and redeemable noncontrolling interests |
|
(12 |
) |
|
|
47 |
|
|
|
(18 |
) |
|
|
84 |
|
Income (loss) (after-tax) before equity in earnings of joint ventures and other operating entities |
|
545 |
|
|
|
1,151 |
|
|
|
1,258 |
|
|
|
2,252 |
|
Less: Total reconciling items, before income taxes |
|
(925 |
) |
|
|
(145 |
) |
|
|
(1,525 |
) |
|
|
(190 |
) |
Less: Income taxes, not applicable to adjusted operating income (loss) |
|
(186 |
) |
|
|
(99 |
) |
|
|
(311 |
) |
|
|
(130 |
) |
Total reconciling items, after income taxes |
|
(739 |
) |
|
|
(46 |
) |
|
|
(1,214 |
) |
|
|
(60 |
) |
After-tax adjusted operating income (loss) (1) |
|
1,284 |
|
|
|
1,197 |
|
|
|
2,472 |
|
|
|
2,312 |
|
Income taxes, applicable to adjusted operating income |
|
381 |
|
|
|
363 |
|
|
|
713 |
|
|
|
683 |
|
Adjusted operating income (loss) before income taxes (1) |
$ |
1,665 |
|
|
$ |
1,560 |
|
|
$ |
3,185 |
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$ |
2,995 |
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See footnotes on last page. |
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Financial Highlights |
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(in millions, except per share data, unaudited) |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Earnings per share of Common Stock: |
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Net income (loss) attributable to Prudential Financial, Inc. |
$ |
1.48 |
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$ |
3.28 |
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$ |
3.44 |
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$ |
6.40 |
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Less: Reconciling Items: |
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Realized investment gains (losses), net, and related charges and adjustments |
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(1.45 |
) |
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0.49 |
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(2.14 |
) |
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|
0.31 |
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Change in value of market risk benefits, net of related hedging gains (losses) |
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(1.20 |
) |
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(0.82 |
) |
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(2.19 |
) |
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(0.48 |
) |
Market experience updates |
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0.12 |
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0.13 |
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0.23 |
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|
0.04 |
|
Divested and Run-off Businesses: |
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Closed Block division |
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(0.05 |
) |
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(0.17 |
) |
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(0.11 |
) |
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(0.17 |
) |
Other Divested and Run-off Businesses |
|
0.03 |
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|
0.11 |
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(0.11 |
) |
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|
0.01 |
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Difference in earnings allocated to participating unvested share-based payment awards |
|
0.02 |
|
|
|
— |
|
|
|
0.04 |
|
|
|
— |
|
Other adjustments (2) |
|
— |
|
|
|
(0.01 |
) |
|
|
0.08 |
|
|
|
(0.04 |
) |
Total reconciling items, before income taxes |
|
(2.53 |
) |
|
|
(0.27 |
) |
|
|
(4.20 |
) |
|
|
(0.33 |
) |
Less: Income taxes, not applicable to adjusted operating income (loss) |
|
(0.43 |
) |
|
|
(0.27 |
) |
|
|
(0.77 |
) |
|
|
(0.39 |
) |
Total reconciling items, after income taxes |
|
(2.10 |
) |
|
|
— |
|
|
|
(3.43 |
) |
|
|
0.06 |
|
After-tax adjusted operating income (loss) |
$ |
3.58 |
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|
$ |
3.28 |
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|
$ |
6.87 |
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$ |
6.34 |
|
Weighted average number of outstanding common shares - basic |
|
353.1 |
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|
|
358.8 |
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|
|
353.7 |
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|
358.9 |
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Weighted average number of outstanding common shares - diluted |
|
354.9 |
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|
|
360.5 |
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|
|
355.5 |
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|
|
360.5 |
|
For earnings per share of Common Stock calculation: |
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Net income (loss) attributable to Prudential Financial, Inc. |
$ |
533 |
|
|
$ |
1,198 |
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$ |
1,240 |
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|
$ |
2,336 |
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Less: Earnings allocated to participating unvested share-based payment awards |
|
6 |
|
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|
14 |
|
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|
16 |
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|
|
29 |
|
Net income (loss) attributable to Prudential Financial, Inc. for earnings per share of Common Stock calculation |
$ |
527 |
|
|
$ |
1,184 |
|
|
$ |
1,224 |
|
|
$ |
2,307 |
|
After-tax adjusted operating income (loss) (1) |
$ |
1,284 |
|
|
$ |
1,197 |
|
|
$ |
2,472 |
|
|
$ |
2,312 |
|
Less: Earnings allocated to participating unvested share-based payment awards |
|
13 |
|
|
|
13 |
|
|
|
29 |
|
|
|
28 |
|
After-tax adjusted operating income (loss) for earnings per share of Common Stock calculation (1) |
$ |
1,271 |
|
|
$ |
1,184 |
|
|
$ |
2,443 |
|
|
$ |
2,284 |
|
Prudential Financial, Inc. Equity (as of end of period): |
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GAAP book value (total PFI equity) at end of period |
$ |
30,582 |
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$ |
28,013 |
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Less: Accumulated other comprehensive income (AOCI) |
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(3,921 |
) |
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|
(7,444 |
) |
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|
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GAAP book value excluding AOCI |
|
34,503 |
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|
|
35,457 |
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|
|
|
|
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Less: Cumulative change in fair value of funds withheld embedded derivatives |
|
67 |
|
|
|
178 |
|
|
|
|
|
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Less: Cumulative effect of foreign exchange rate remeasurement and currency translation adjustments corresponding to realized gains (losses) |
|
144 |
|
|
|
(291 |
) |
|
|
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|
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Adjusted book value |
$ |
34,292 |
|
|
$ |
35,570 |
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|
|
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|
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End of period number of common shares - diluted |
|
355.7 |
|
|
|
361.4 |
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GAAP book value per common share - diluted |
$ |
85.98 |
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|
$ |
77.51 |
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|
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GAAP book value excluding AOCI per share - diluted |
$ |
97.00 |
|
|
$ |
98.11 |
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|
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Adjusted book value per common share - diluted |
$ |
96.41 |
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$ |
98.42 |
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See footnotes on last page. |
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Financial Highlights |
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(in millions, or as otherwise noted, unaudited) |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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PGIM: |
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PGIM: |
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Assets Managed by PGIM (in billions, as of end of period) (3): |
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Institutional customers - Third Party |
$ |
647.6 |
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$ |
585.2 |
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Retail customers - Third Party |
|
256.7 |
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|
234.5 |
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Affiliated |
|
536.4 |
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|
508.4 |
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Total PGIM |
$ |
1,440.7 |
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$ |
1,328.1 |
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Institutional Customers - Assets Under Management (in billions) (3): |
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Gross additions, excluding money market |
$ |
22.1 |
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$ |
16.9 |
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|
$ |
45.9 |
|
|
$ |
62.1 |
|
Net additions (withdrawals), excluding realizations, distributions and money market |
$ |
2.6 |
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|
$ |
(6.4 |
) |
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$ |
10.2 |
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|
$ |
21.7 |
|
Retail Customers - Assets Under Management (in billions): |
|
|
|
|
|
|
|
||||||||
Gross additions, excluding money market |
$ |
16.0 |
|
|
$ |
14.5 |
|
|
$ |
33.7 |
|
|
$ |
30.2 |
|
Net additions (withdrawals), excluding money market |
$ |
(2.8 |
) |
|
$ |
(0.6 |
) |
|
$ |
(3.0 |
) |
|
$ |
(0.1 |
) |
Affiliated - Assets Under Management (in billions) (3): |
|
|
|
|
|
|
|
||||||||
Gross additions, excluding money market |
$ |
19.8 |
|
|
$ |
19.1 |
|
|
$ |
40.4 |
|
|
$ |
46.0 |
|
Net additions (withdrawals), excluding realizations, distributions and money market |
$ |
0.6 |
|
|
$ |
1.9 |
|
|
$ |
0.5 |
|
|
$ |
9.1 |
|
|
|
|
|
|
|
|
|
||||||||
Retirement Strategies: |
|
|
|
|
|
|
|
||||||||
Institutional Retirement Strategies: |
|
|
|
|
|
|
|
||||||||
Gross additions |
$ |
8,854 |
|
|
$ |
4,011 |
|
|
$ |
15,905 |
|
|
$ |
15,001 |
|
Net additions (withdrawals) |
$ |
3,329 |
|
|
$ |
(2,153 |
) |
|
$ |
3,738 |
|
|
$ |
2,420 |
|
Total account value at end of period, net |
$ |
298,407 |
|
|
$ |
264,999 |
|
|
|
|
|
||||
Individual Retirement Strategies: |
|
|
|
|
|
|
|
||||||||
Actively-Sold Protected Investment and Income Solutions and, Discontinued Traditional VA and Guaranteed Living Benefits: |
|
|
|
|
|
|
|
||||||||
Gross sales (4) |
$ |
3,135 |
|
|
$ |
3,479 |
|
|
$ |
6,608 |
|
|
$ |
6,784 |
|
Sales, net of full surrenders and death benefits |
$ |
534 |
|
|
$ |
697 |
|
|
$ |
1,121 |
|
|
$ |
1,446 |
|
Total account value at end of period, net |
$ |
131,519 |
|
|
$ |
123,899 |
|
|
|
|
|
||||
Group Insurance: |
|
|
|
|
|
|
|
||||||||
Annualized New Business Premiums (5): |
|
|
|
|
|
|
|
||||||||
Group life |
$ |
35 |
|
|
$ |
27 |
|
|
$ |
260 |
|
|
$ |
216 |
|
Group disability |
|
42 |
|
|
|
19 |
|
|
|
217 |
|
|
|
208 |
|
Total |
$ |
77 |
|
|
$ |
46 |
|
|
$ |
477 |
|
|
$ |
424 |
|
Individual Life: |
|
|
|
|
|
|
|
||||||||
Annualized New Business Premiums (5): |
|
|
|
|
|
|
|
||||||||
Term life |
$ |
39 |
|
|
$ |
34 |
|
|
$ |
71 |
|
|
$ |
65 |
|
Universal life |
|
24 |
|
|
|
22 |
|
|
|
48 |
|
|
|
42 |
|
Variable life |
|
160 |
|
|
|
147 |
|
|
|
314 |
|
|
|
263 |
|
Total |
$ |
223 |
|
|
$ |
203 |
|
|
$ |
433 |
|
|
$ |
370 |
|
International Businesses: |
|
|
|
|
|
|
|
||||||||
International Businesses: |
|
|
|
|
|
|
|
||||||||
Annualized New Business Premiums (5)(6): |
|
|
|
|
|
|
|
||||||||
Actual exchange rate basis |
$ |
541 |
|
|
$ |
519 |
|
|
$ |
1,117 |
|
|
$ |
1,036 |
|
Constant exchange rate basis |
$ |
541 |
|
|
$ |
521 |
|
|
$ |
1,127 |
|
|
$ |
1,029 |
|
|
|
|
|
|
|
|
|
||||||||
See footnotes on last page. |
|
|
|
|
|
|
|
||||||||
Financial Highlights |
|
|
|
|
|
|
|
(in billions, as of end of period, unaudited) |
|
|
|
|
|
|
|
|
|
|
|
||||
|
June 30, |
||||||
|
|
2025 |
|
|
2024 |
||
Assets and Assets Under Management and Administration: |
|
|
|
||||
Total assets (3) |
$ |
759.0 |
|
$ |
715.3 |
||
Assets under management (at fair market value): |
|
|
|
||||
PGIM |
$ |
1,440.7 |
|
$ |
1,328.1 |
||
|
|
113.8 |
|
|
124.6 |
||
International Businesses |
|
19.4 |
|
|
17.9 |
||
Corporate and Other |
|
6.4 |
|
|
11.4 |
||
Total assets under management |
|
1,580.3 |
|
|
1,482.0 |
||
Assets under administration |
|
193.2 |
|
|
183.9 |
||
Total assets under management and administration |
$ |
1,773.5 |
|
$ |
1,665.9 |
||
|
|
|
|
||||
|
|
|
|
||||
(1) |
Adjusted operating income is a non-GAAP measure of performance. See NON-GAAP MEASURES within the earnings release for additional information. |
||||||
|
|
|
|
|
|
|
|
(2) |
Represents adjustments not included in the above reconciling items, including certain components of consideration for business acquisitions, which are recognized as compensation expense over the requisite service periods. |
||||||
|
|
|
|
|
|
|
|
(3) |
Prior period amounts have been updated to conform to current period presentation. |
||||||
|
|
|
|
|
|
|
|
(4) |
Includes Prudential FlexGuard and FlexGuard Income, Prudential Premier Investment, MyRock, Private Placement Variable Annuity and all fixed annuity products. Excludes discontinued traditional variable annuities and guaranteed living benefits. |
||||||
|
|
|
|
|
|
|
|
(5) |
Premiums from new sales are expected to be collected over a one-year period. Group insurance annualized new business premiums exclude new premiums resulting from rate changes on existing policies, from additional coverage issued under our Servicemembers’ Group Life Insurance contract, and from excess premiums on group universal life insurance that build cash value but do not purchase face amounts. Group insurance annualized new business premiums include premiums from the takeover of claim liabilities. Excess (unscheduled) and single premium business for the Company’s domestic individual life and international operations are included in annualized new business premiums based on a |
||||||
|
|
|
|
|
|
|
|
(6) |
Actual amounts reflect the impact of currency fluctuations. Constant amounts reflect foreign denominated activity translated to |
||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250730442170/en/
MEDIA: YeaJin Kim, YeaJin.Kim@prudential.com
Source: Prudential Financial, Inc.
