PRU Reported this cycle

Prudential Financial

Newark, NJ Founded 1875 Insurance & Insurtech

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Latest analysis

Updated Aug 7, 2026

Prudential launches sweeping strategic reset: halving geographic footprint, targeting $750M cost savings, and doubling PGIM's earnings contribution to 25% of AOI by 2028.

Prudential Financial is executing the most significant strategic repositioning in a decade, exiting 6-7 emerging markets to free up well north of $3 billion in capital, which will be rotated into PGIM, Group Insurance, and European retirement — businesses management believes offer category leadership at superior capital efficiency. The core financial logic is a deliberate shift from capital-intensive liability businesses toward fee-based, capital-light earnings streams, with PGIM targeted to grow from ~12% to 25% of enterprise AOI. Second quarter after-tax adjusted operating income of $1.4 billion ($4.08 per share) rose 14% year-over-year, driven by spread income growth, a net favorable assumption update, and higher asset management fees, demonstrating the underlying earnings durability management is staking the strategy on.

Tone: mixed

Revenue

$60.8B

PRU 10-K · FY 2025

Employees

36,824

Revenue FY2024

$70.4B

Founded

1875

Profile

PRU 10-K Item 1 · Feb 12, 2026

Prudential Financial is a global financial services company offering life insurance, annuities, retirement products, mutual funds, and investment management to individual and institutional customers across the U.S., Asia, Europe, and Latin America. Its principal operations span PGIM (global investment management), U.S. Businesses (Retirement Strategies, Group Insurance, and Individual Life), and International Businesses. As of December 31, 2025, the company managed approximately $1.609 trillion in assets under management.

Read filing description ↓

Prudential Financial, Inc., a global financial services leader and premier active global investment manager with approximately $1.609 trillion of assets under management as of December 31, 2025, has operations in the United States, Asia, Europe and Latin America. Through our subsidiaries and affiliates we offer a wide array of financial products and services, including life insurance, annuities, retirement-related products and services, mutual funds and investment management. We offer these products and services to individual and institutional customers through proprietary and third-party distribution networks. Our principal executive offices are located in Newark, New Jersey, and Prudential Financial's Common Stock is publicly traded on the New York Stock Exchange under the ticker symbol 'PRU.' Our principal operations consist of PGIM (our global investment management business), our U.S. Businesses (consisting of our Retirement Strategies, Group Insurance and Individual Life businesses), our International Businesses, the Closed Block division and our Corporate and Other operations. Our strategy centers on capturing powerful tailwinds, including those at the convergence of global retirement and asset management, to be a global leader in expanding access to investing, insurance, and retirement security. Our business system includes a mix of high-quality protection, retirement and investment management businesses which creates growth potential by capitalizing on long-term, durable trends to provide customers with integrated cross-business solutions, as well as generate capital benefits from a balanced risk profile.

Primary products

Life insurance
Annuities
Retirement-related products and services
Mutual funds
Investment management
Pension risk transfers

Business segments

PGIM Retirement Strategies Group Insurance Individual Life International Businesses Corporate and Other Closed Block Division

End markets

Individual customers Institutional customers Retirement plan sponsors Mass affluent households Affluent households Mass middle households Employer groups Professional associations Affinity groups

Geographies

United States Asia Europe Latin America Japan Brazil Mexico Chile China India Indonesia Ghana South Africa United Kingdom Bermuda

“We are a leader in providing innovative pension risk management solutions to plan sponsors, and we believe the pension risk transfer market continues to offer attractive opportunities that are aligned with our expertise.” Competitive position, as stated in the filing

Revenue commentary · FY 2025

Total GAAP revenues declined from $70.405 billion in 2024 to $60.774 billion in 2025, driven primarily by a large decline in premiums within Institutional Retirement Strategies, partially offset by growth in net investment income and other revenue lines.

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SeventhBiz analysis 6 signals 9 diligence answers 4 M&A transactions SWOT

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