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Prudential Financial, Inc. (PRU) is a global financial services leader operating primarily in the United States, Asia, Europe, and Latin America, offering a diverse range of financial products and services . The company engages in investment management, insurance, and retirement solutions, catering to various market segments from mass middle to affluent markets . Its operations are structured into several segments, each contributing to its competitive advantages, earnings diversification, and capital benefits .
- PGIM (Global Investment Management) - Manages approximately $1.298 trillion in assets, providing investment management services across various asset classes, significantly contributing to earnings through asset management fees and investment income .
- U.S. Businesses - Offers retirement investment and income products, group life and disability insurance, and individual life insurance, serving different market segments from mass middle to affluent markets .
- International Businesses - Focuses on life insurance, retirement products, and investment products in markets such as Japan, Brazil, Argentina, and Mexico, with a strong presence in Japan through its Life Planner operations .
- Closed Block Division - Includes certain in-force participating insurance and annuity products, accounted for separately from other divested and run-off businesses .
- Corporate and Other Operations - Encompasses various corporate functions and other business activities not included in the main segments .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Charles F. Lowrey ExecutiveBoard | Chairman and CEO (until March 31, 2025) | None | Joined PRU in 2001; CEO since December 2018; transitioning to Executive Chairman on March 31, 2025. | View Report → |
Andrew F. Sullivan Executive | EVP, Head of International Businesses & PGIM | None | Joined PRU in 2011; appointed as next CEO effective March 31, 2025. | |
Ann M. Kappler Executive | EVP, General Counsel, and Chief Compliance Officer | None | Joined PRU in 2009; appointed Chief Compliance Officer in February 2024. | |
Caroline A. Feeney Executive | EVP, Head of U.S. Businesses | None | Joined PRU in 1993; transitioning to EVP, Global Head of Insurance and Retirement on March 31, 2025. | |
Lucien A. Alziari Executive | EVP and Chief Human Resources Officer | None | Joined PRU in June 2017; oversees HR strategy and operations. | |
Scott E. Case Executive | EVP, Head of Global Technology and Operations | None | Joined PRU in November 2024; previously CIO at Truist. | |
Timothy L. Schmidt Executive | SVP and Chief Investment Officer | None | Joined PRU in July 2010; oversees investment strategies and chairs the Senior Asset Liability Committee. | |
Yanela C. Frias Executive | EVP and CFO | None | Joined PRU in 1997; became CFO on March 15, 2024. | |
Carmine Di Sibio Board | Director | Board Member at PayPal, Member of FCLT, Member of World Economic Forum\u2019s International Business Council | Director since 2024; former Global Chairman and CEO of EY. | |
Christine A. Poon Board | Director | Board Member at Regeneron Pharmaceuticals, The Sherwin-Williams Company, Neurocrine Biosciences | Director since 2006; former Vice Chairman of Johnson & Johnson. | |
Douglas A. Scovanner Board | Director | None | Director since 2013; Chair of Investment and Risk Committees; former CFO of Target Corporation. | |
Gilbert F. Casellas Board | Director | None | Director since 2001; Chair of Corporate Governance and Business Ethics Committee. | |
Kathleen A. Murphy Board | Director | None | Director since 2023; former President of Personal Investing at Fidelity Investments. | |
Martina Hund-Mejean Board | Director | Board Member at Colgate-Palmolive Company | Director since 2010; Chair of Audit Committee; former CFO of MasterCard. | |
Michael A. Todman Board | Lead Independent Director | Board Member at Brown-Forman Corporation, Carrier Global Corporation, Mondel\u0113z International, Inc. | Director since 2016; elected Lead Independent Director in May 2023. | |
Sandra Pianalto Board | Director | Board Member at Eaton Corporation plc, The J.M. Smucker Company | Director since 2015; former President and CEO of the Federal Reserve Bank of Cleveland. | |
Wendy E. Jones Board | Director | None | Director since 2021; former SVP of Global Operations at eBay. |
- Given the potential dampening of demand for annuity products in a decreasing interest rate environment, especially in fixed annuities, how do you plan to sustain growth in your annuity sales, and what specific strategies are you implementing to adapt your pricing and product offerings?
- As you work on building a select portfolio in international markets, particularly in emerging regions like Latin America, Asia, and Africa, what challenges do you foresee in these markets, and how do you plan to address them, especially considering uncertainties in accelerating growth through M&A activities?
- With PGIM's recent decision to run off certain quantitative funds, how has this impacted your overall investment performance, and what steps are you taking to mitigate any associated pressures or declines in investment returns?
- The Group Insurance benefit ratio has been below your target range for the first half of the year; what factors have contributed to this deviation, and how do you plan to manage the benefit ratio going forward to ensure it aligns with your target without compromising growth?
- Regarding Prismic, you've indicated you'd be disappointed if no additional transactions occur before year-end; what obstacles are you encountering in closing more transactions, and how confident are you in meeting your growth objectives for Prismic in the current market environment?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Great-West Life & Annuity Insurance Company | The company completed the sale of its Full Service Retirement business to this competitor, which involved the sale of equity interests, reinsurance of certain insurance policies, and other transactions. |
This competitor is mentioned in the context of the company's defined terms, indicating its relevance in the life insurance market. | |
This competitor is mentioned in the context of the company's defined terms, indicating its relevance in the life insurance market. | |
This competitor is mentioned in the context of the company's defined terms, indicating its relevance in the life insurance market. | |
Talcott Resolution Life Insurance Company | This competitor is mentioned in the context of the company's defined terms, indicating its relevance in the life insurance market. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Deerpath Capital Management, LP | 2023 | In May 2023, Prudential Financial agreed to acquire a majority stake in Deerpath Capital Management, LP, a U.S.-based private credit and direct lending manager with about $5 billion in assets under management; the deal is subject to regulatory approvals and aligns with PGIM’s strategy to expand its alternative investment and direct lending capabilities. |
Alexander Forbes Group Holdings Limited | 2022 | In July 2022, Prudential acquired a 15% minority interest in Alexander Forbes via a private equity limited partnership, and later increased its stake to 33% in the third quarter of 2022, as part of its strategy to invest in high-quality financial services in emerging African markets. |
Recent press releases and 8-K filings for PRU.
- CEO Andrew Sullivan outlined a strategy to drive profitable growth through reducing exposure to volatile legacy products, enhancing a diversified business mix, and optimizing the balance sheet and capital deployment.
- The call highlighted strong global sales in retirement and insurance segments, robust PGIM investment performance, and ongoing efforts to phase out traditional variable annuities amid near-term headwinds in both U.S. and Japanese markets.
- Management reaffirmed its midterm core EPS guidance of 5%-8% annual growth, noting that current challenges such as product runoff and currency impacts are expected to ease over time.
- Earnings highlights: Q1 2025 net income was $707M ($1.96 per share) and after‐tax adjusted operating income reached $1.188B ($3.29 per share), compared to higher figures in the prior year’s quarter.
- Balance sheet and AUM: Book value per share increased to $83.59, with parent company liquid assets of $4.9B and assets under management totaling $1.522T.
- Capital return: The company returned $736M to shareholders through share repurchases and dividends (yielding $1.35 per share at 5.6%).
- Preliminary financial results for Q1 2025 were disclosed, including PGIM segment assets under management of $1.39 trillion and other related revenues of approximately $20 million.
- The document details the resegmentation of the International Businesses segment, consolidating operations previously reported separately.
- An update to internal expense allocations effective January 1, 2025, is noted, with a significant impact on segment results, including an expected FY 2025 loss of $1.7 billion for Corporate & Other operations.