PRUDENTIAL FINANCIAL INC (PRU)

Prudential Financial, Inc. is a global financial services company and active investment manager, with approximately $1.609 trillion of assets under management as of December 31, 2025. It has operations in the United States, Asia, Europe and Latin America. Through its subsidiaries and affiliates it offers life insurance, annuities, retirement-related products and services, mutual funds and investment management to individual and institutional customers, using proprietary and third-party distribution networks. Its strategy centers on the convergence of global retirement and asset management, aiming to expand access to investing, insurance and retirement security.

The company's principal operations are PGIM (global investment management), the U.S. businesses (Retirement Strategies, Group Insurance and Individual Life), the International businesses, the Closed Block division and Corporate and Other. PGIM offers public fixed income, private credit and other alternatives, public equity, real estate and multi-asset strategies, and earns mostly asset management fees plus incentive, mortgage origination and servicing, and transaction fees. Retirement Strategies includes institutional products (pension risk transfers, guaranteed investment contracts and funding agreements, structured settlements, longevity reinsurance and stable value wraps) and individual products (the FlexGuard indexed-variable annuity suite, fixed annuities and variable annuities; sales of traditional variable annuities were discontinued in 2020). Group Insurance provides group life, short- and long-term disability, corporate-, bank- and trust-owned life insurance, and supplemental health coverage such as accident, critical illness and hospital indemnity. Individual Life develops and distributes variable, universal and term life insurance. The Closed Block holds certain participating insurance and annuity products and related assets created at the 2001 demutualization of The Prudential Insurance Company of America. Corporate and Other holds unallocated corporate items and divested and run-off businesses, and includes an approximately 20% interest in Prismic, the owner of the Bermuda reinsurers Prismic Re and Prismic Re International, launched in September 2023 with Warburg Pincus and institutional investors.

PGIM serves institutional investors, retail clients and the company's affiliated insurance and retirement businesses, through an Institutional Client Group and a retail channel offering mutual funds, closed-end funds, ETFs, separately managed accounts and UCITS to individuals, defined contribution plans and intermediaries in the U.S., Europe, Asia and Latin America. Institutional Retirement Strategies serves public, private and not-for-profit plan sponsors, in the U.S. and primarily the United Kingdom internationally, via actuarial consultants, brokers, an internal sales force and intermediaries. Individual Retirement Strategies targets mass affluent and affluent U.S. households through broker-dealers, banks, wirehouses, independent planners and Prudential Advisors. Group Insurance sells through a proprietary sales force and employee benefit brokers and consultants to employers, professional associations and affinity groups, in National Market, Premier Market and Association segments.

Prudential Financial's principal executive offices are in Newark, New Jersey, and its common stock trades on the New York Stock Exchange under "PRU." The company competes with large insurers, asset managers, diversified financial institutions and, in retirement products, private equity firms, on factors such as investment performance, pricing, product innovation, brand, financial strength and distribution breadth. It uses ceded and assumed reinsurance in several businesses to manage market, mortality, longevity and large-claim risk.