# PRUDENTIAL FINANCIAL INC

Summary updated: 2026-03-18T13:00:11.485984Z
Canonical: https://finbar.com/research/companies/prudential-financial

## Overview

Prudential Financial, Inc. is a global financial services company focused on insurance, retirement, and investment management. Its core offerings include life insurance, annuities, retirement-related products and services, mutual funds, and investment management, and it describes itself as a global financial services leader and active global investment manager headquartered in Newark, New Jersey [1](https://app.finbar.com/go?id=P-839d72f91fbf4fea8208081646853864). The company’s principal operations include PGIM, its global investment management business, alongside U.S. Businesses such as Retirement Strategies, Group Insurance, and Individual Life, as well as International Businesses and certain closed block and corporate operations [1](https://app.finbar.com/go?id=P-839d72f91fbf4fea8208081646853864)[2](https://app.finbar.com/go?id=P-0d629a2c5d1844ad9b5ccc0ca40b3314).

Prudential’s business is defined by a broad geographic footprint, with operations in the United States, Asia, Europe, and Latin America. Its international insurance activities span markets including Japan, Bermuda, Brazil, Mexico, China, India, and Indonesia, and it also has strategic investments in parts of Africa including Ghana, Kenya, and South Africa [1](https://app.finbar.com/go?id=P-839d72f91fbf4fea8208081646853864)[3](https://app.finbar.com/go?id=P-16d1ef5be0ea474a91dd19191ab4b8b6)[4](https://app.finbar.com/go?id=P-6199ecd1503548fda8767c9fb77bdf9d). Prudential states that its purpose is to “make lives better by solving the financial challenges of our changing world” [5](https://www.prudential.com/about).

As general indicators of scale, Prudential reported approximately $1.512 trillion of assets under management as of December 31, 2024, 2024 revenue of $70.405 billion, and 38,196 employees globally [1](https://app.finbar.com/go?id=P-839d72f91fbf4fea8208081646853864)[6](https://app.finbar.com/go?id=P-a4e8c4599bfc4aa1b0666cc324529ccd)[7](https://app.finbar.com/go?id=P-dcd8a57008e14929ab470933f9f5e5a3).

## Products & services

Prudential Financial’s retirement product set includes institutional solutions such as payout annuities, pension risk transfer group annuities, longevity reinsurance, stable value products, investment-only products, guaranteed investment contracts, funding agreements, and structured settlements.[2](https://app.finbar.com/go?id=P-0d629a2c5d1844ad9b5ccc0ca40b3314)[8](https://app.finbar.com/go?id=T-fd3af0f7cce94c258adaf5b810c6c4a7) Its retail retirement lineup includes named annuity products such as Prudential FlexGuard indexed variable annuity, Prudential FlexGuard Income, Prudential Premier Investment Variable Annuity, Prudential MyRock Advisor Variable Annuity, PruSecure, SurePath, SurePath Income, Prudential Fixed Annuity with Daily Advantage Income Benefit, Prudential WealthGuard Multi-Year Guaranteed Annuity, and Prudential Immediate Income Annuity.[8](https://app.finbar.com/go?id=T-fd3af0f7cce94c258adaf5b810c6c4a7) These products offer features such as index-linked crediting with contractual minimums and maximums, downside protection at predetermined levels, optional income riders, guaranteed lifetime withdrawal payments, return-of-purchase-payment death benefits, and fixed guaranteed rates for 3-, 5-, or 7-year periods.[8](https://app.finbar.com/go?id=T-fd3af0f7cce94c258adaf5b810c6c4a7) In 2024, Institutional Retirement Strategies represented about 40.0% of Prudential’s segment revenue and Individual Retirement Strategies about 7.3%; on a premiums, policy charges, and fee-income basis, the retirement businesses together represented about 51.5%.[9](https://app.finbar.com/go?id=T-11bb8ff067f74df9b2ddc75a8e8c2415)[10](https://app.finbar.com/go?id=P-3f1bc3188afb4a998bf429dd9f0bb5da)[11](https://app.finbar.com/go?id=T-3496753e74974b80b8da7d7e72eca784)

Its life and employee-benefit products include variable life, indexed variable life, universal life, indexed universal life, term life, and Final Expense Insurance.[12](https://app.finbar.com/go?id=P-c2740c9d534541a29bce480a135282d0)[13](https://app.finbar.com/go?id=T-72c26b95380a4bfa9c0d55a8b9e540fe) The indexed life products credit cash value based on external indexes, subject to cap, participation, step, and buffer rates and contractual minimums or maximums, while term life emphasizes guaranteed level premiums and conversion options to permanent coverage.[13](https://app.finbar.com/go?id=T-72c26b95380a4bfa9c0d55a8b9e540fe) Prudential’s group offerings include employer-, employee-, and member-paid term life; group universal life; group variable universal life; accidental death and dismemberment; short- and long-term disability; accident, critical illness, and hospital indemnity plans; medical stop-loss coverage; and plan administration and absence-management services, including paid-leave solutions.[14](https://app.finbar.com/go?id=T-352d8cf03ded4a53acc1c7ed8e9b7e32) In 2024, Group Insurance contributed about 9.1% of segment revenue and Individual Life about 8.8%; on a premiums, policy charges, and fee-income basis they contributed about 12.3% and 6.2%, respectively.[9](https://app.finbar.com/go?id=T-11bb8ff067f74df9b2ddc75a8e8c2415)[10](https://app.finbar.com/go?id=P-3f1bc3188afb4a998bf429dd9f0bb5da)[11](https://app.finbar.com/go?id=T-3496753e74974b80b8da7d7e72eca784)

Through PGIM, Prudential also offers investment products and services including mutual funds, ETFs, listed and unlisted closed-end funds, separately managed accounts, and institutional investment strategies across public fixed income, public equity, real estate debt and equity, private credit, alternatives, and multi-asset solutions.[15](https://app.finbar.com/go?id=P-a5253e4d1d114dcabba92e28ce2798d0)[16](https://app.finbar.com/go?id=T-8323bf65e3dc44cfb3a8383f60e9e863) PGIM’s revenues are primarily asset-management fees based on assets under management, with some performance fees when returns exceed benchmarks or targets.[17](https://app.finbar.com/go?id=T-90eeb6629e54427e907cfec1ddb3fcb5) Prudential’s international product portfolio adds protection-oriented life insurance, retirement income products, savings-oriented variable life, endowments, U.S.-dollar and yen-denominated investment contracts, and variable and indexed annuities with contractual return floors or ceilings and downside-protection features.

[18](https://app.finbar.com/go?id=P-82e7d3661beb40c49812139ffd16cb16)[19](https://app.finbar.com/go?id=T-1b12b29bf4b248ac8f8822d3a0b23d74)

## Geographic presence

Prudential Financial’s footprint is centered on the U.S. and Japan, with broader operations across Asia, Europe and Latin America. The company says it operates primarily in the U.S., Asia, Europe and Latin America, and its International Businesses segment includes Life Planner operations in Japan, Brazil and Mexico; Gibraltar Life and Other operations across Japan; joint ventures in Chile, China, India and Indonesia; and strategic investments in Ghana, Kenya and South Africa.[20](https://app.finbar.com/go?id=P-8edf9658c61846edaac8122d51d489af)[21](https://app.finbar.com/go?id=P-b6bd268c323845f28cf4ebcbf507a375)

Revenue is also concentrated in the U.S. and Japan. In 2024, the U.S. accounted for $48.6 billion of consolidated revenue, or about 69.0%, Japan for $13.8 billion, or about 19.5%, and other countries for $8.1 billion, or about 11.5%.[22](https://app.finbar.com/go?id=P-8081b4e0fe514303b017ab1e943d1b0c)[23](https://app.finbar.com/go?id=T-5dbed573d24c4ebbb5f688e30c457ee9)

The company is headquartered at 751 Broad Street in Newark, New Jersey. Outside its headquarters, it conducts business and home-office functions in owned and leased locations throughout the U.S. and also maintains back-office functions in leased properties outside the U.S. For International Businesses, it owns and leases home offices in Japan, Brazil and Mexico, while PGIM’s international operations lease home offices in Japan, Taiwan, the U.K., India and Ireland, in addition to other branch and field offices in countries where PGIM operates. As of December 31, 2024, Prudential had 38,196 employees, including 14,087 in the U.S. and 24,109 outside the U.S.

[24](https://app.finbar.com/go?id=P-c5cbf1a063f34e758222cb627bbf895f)[25](https://app.finbar.com/go?id=P-c1ce325f36254dbda7f3c8ff3faa0477)[26](https://app.finbar.com/go?id=P-74080d63641f4b23b2a3737570a293f4)

## Business segments

Prudential Financial describes its principal operations as PGIM, U.S. Businesses, International Businesses, the Closed Block division, and Corporate and Other; within U.S. Businesses, the company organizes operations into the Retirement Strategies, Group Insurance, and Individual Life segments, and it evaluates segment profitability using adjusted operating income. [27](https://app.finbar.com/go?id=P-bfe27ed046164eebb45b45ffe52e8eb6)[28](https://app.finbar.com/go?id=P-2f321af1e1eb4d6f818cfa5430bc2aff)[29](https://app.finbar.com/go?id=P-92cba3d8d9ed47c3b890d0a5c6ed38b9)

PGIM is the investment management segment, covering public fixed income and equity, real estate debt and equity, private credit and other alternatives, and multi-asset strategies for institutional and retail clients as well as Prudential’s own insurance and retirement businesses. [15](https://app.finbar.com/go?id=P-a5253e4d1d114dcabba92e28ce2798d0) Retirement Strategies serves institutional and individual retirement markets through retirement investment and income products and services for plan sponsors and U.S. variable and fixed annuity products. [2](https://app.finbar.com/go?id=P-0d629a2c5d1844ad9b5ccc0ca40b3314) Group Insurance provides U.S. employee-benefit products including group life, disability, corporate bank- and trust-owned life insurance, voluntary accident, critical illness and hospital indemnity cover, absence management, and medical stop loss. [30](https://app.finbar.com/go?id=P-46c27d0d0f9a4d2698f67644dd59fcf3) Individual Life focuses on U.S. variable, universal, and term life insurance for mass middle, mass affluent, and affluent customers. [12](https://app.finbar.com/go?id=P-c2740c9d534541a29bce480a135282d0) International Businesses sells life insurance, retirement, investment, and certain fixed-benefit accident and health products through Life Planner operations in Japan, Brazil, and Mexico, as well as Gibraltar Life and other operations, joint ventures, and strategic investments across Asia, Latin America, and Africa. [18](https://app.finbar.com/go?id=P-82e7d3661beb40c49812139ffd16cb16) Corporate and Other contains corporate operations plus divested and run-off businesses, while the Closed Block is reported separately and treated as a divested business under adjusted operating income. [31](https://app.finbar.com/go?id=P-c87b5647b7224f47840b8ac5005b2f5b)[32](https://app.finbar.com/go?id=P-9f515e40ad674552849d179a61ceeb65)

Using adjusted operating income as the segment contribution measure, the largest 2024 contributors were Retirement Strategies at about 61% of total segment adjusted operating income and International Businesses at about 52%, followed by PGIM at about 15% and Group Insurance at about 5%; Individual Life was about -4% and Corporate and Other about -30%, so the percentages do not sum to 100% because some components were losses. [33](https://app.finbar.com/go?id=T-6053106848564b078ced1c8aeacc8da1)[34](https://app.finbar.com/go?id=T-c074a518ac2142629a76ecac4814638b)[35](https://app.finbar.com/go?id=T-108aee5339ea42cbbcd533eda45de006)[36](https://app.finbar.com/go?id=T-da5703c616c3419f8a786862ef0dc2ca)[37](https://app.finbar.com/go?id=T-f9f6a8d1bc644dc1a40f5d523d717871)[38](https://app.finbar.com/go?id=T-a84b559dcdb74b63ad5e3a0443db80af)[39](https://app.finbar.com/go?id=T-2e412b680074470fa0dfd3b7bdf534c2) At the broader platform level, U.S. Businesses contributed about 63% of total segment adjusted operating income, largely driven by Retirement Strategies. [40](https://app.finbar.com/go?id=T-6e31d1e13b82410ca65ef410f627e73b)[39](https://app.finbar.com/go?id=T-2e412b680074470fa0dfd3b7bdf534c2) On reported segment revenue where a total revenue line is shown, Retirement Strategies represented about 49% of disclosed segment revenue, International Businesses about 26%, Group Insurance about 9.5%, Individual Life about 9.1%, and PGIM about 6.0%; Corporate and Other is not directly comparable on this basis because no single total revenue line is presented for that segment.

## Company history

Prudential traces its origins to 1875, when John F. Dryden founded the Widows and Orphans Friendly Society in Newark, New Jersey. The business began by offering affordable burial insurance to working people and later developed into Prudential’s core insurance enterprise.[41](https://www.prudential.com/wps/portal/production/prudential/links/about/history-of-prudential)

A major later milestone came in 1981, when Prudential agreed to acquire Bache Group, expanding beyond its traditional insurance base into securities.[42](https://www.upi.com/Archives/1981/03/19/Prudential-buys-Bache-Group/7719353826000/) In December 2001, The Prudential Insurance Company of America demutualized, converting from a mutual life insurer into a stock company and becoming a wholly owned subsidiary of Prudential Financial; Prudential Financial’s shares began trading publicly that same month.[43](https://app.finbar.com/go?id=P-051aa2e9183742f7898abe9dcb6705a7)[44](https://www.upi.com/Archives/2001/12/13/Prudential-debuts-IPO/4801008219600/)

Prudential continued reshaping the business in the early 2000s. In 2004, it completed the acquisition of CIGNA’s retirement benefits business for $2.1 billion in cash, a significant step in building its retirement-services platform.

[45](https://www.sec.gov/Archives/edgar/data/1137774/000119312503083019/dex990.htm)[46](https://www.sec.gov/Archives/edgar/data/701221/000095015904000416/cigna8k.htm)

## Sources

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46. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/701221/000095015904000416/cigna8k.htm)

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