Prudential Financial, Inc. (PFI) is a global financial services leader and premier active global investment manager. The company offers a wide array of financial products and services, including life insurance, annuities, retirement-related products and services, mutual funds and investment management to individual and institutional customers. PFI operates through proprietary and third-party distribution networks and has a presence in the United States, Asia, Europe and Latin America. The company's common stock is publicly traded on the New York Stock Exchange under the ticker symbol "PRU."

• Employees: 40,658 (as of December 31, 2023)
• Geographic Footprint: United States, Asia, Europe and Latin America
• Headquarters: Newark, NJ
• Founded: 2001
• Revenue: $53.979 billion (FY2023)

• CEO: Charles F. Lowrey
• CFO: Kenneth Y. Tanji
• Vice Chair: Robert M. Falzon
• Other Key Executives: Ann M. Kappler (Executive Vice President, General Counsel and Chief Compliance Officer), Andrew F. Sullivan (Executive Vice President and Head of International Businesses and Global Investment Management), Caroline A. Feeney (Executive Vice President and Head of U.S. Businesses), Lucien A. Alziari (Executive Vice President and Chief Human Resources Officer), Stacey Goodman (Executive Vice President and Chief Information Officer), Timothy L. Schmidt (Senior Vice President and Chief Investment Officer)

The key leaders have extensive experience in financial services and investment management.

• Annual Revenue: $53.979 billion (FY2023)
• Net Income: $2.488 billion
• Total Assets: $721.123 billion
• Employees: 40,658 (as of December 31, 2023)
• Key Financial Highlights: The company experienced a significant increase in net income in 2023 compared to 2022, primarily due to realized investment gains and a lower goodwill impairment charge, partially offset by unfavorable market experience updates.

PFI offers a variety of products and solutions across its different business segments:

• PGIM: Provides investment management services and solutions related to public fixed income, public equity, real estate debt and equity, private credit and other alternatives, and multi-asset class strategies to institutional and retail clients globally.
• Retirement Strategies: Offers retirement investment and income products and services to retirement plan sponsors and individual variable and fixed annuity products.
• Group Insurance: Develops and distributes group life, long-term and short-term disability, and group corporate-owned life insurance.
• Individual Life: Develops and distributes variable life, universal life and term life insurance products.
• International Businesses: Develops and distributes life insurance, retirement products, investment products and certain accident and health products with fixed benefits to mass affluent and affluent customers.

The company's operations are divided into the following segments:

• PGIM: Global investment management business.
• U.S. Businesses: Consisting of Retirement Strategies, Group Insurance and Individual Life.
• International Businesses: Includes operations in Japan, Brazil, Argentina and Mexico.
• Closed Block Division: Accounts for certain in-force participating insurance and annuity products.
• Corporate and Other: Includes corporate items and initiatives that are not allocated to business segments, certain businesses whose financial results and operations are not considered significant, and businesses that have been or will be divested.

PFI's strategy centers on leveraging its mutually-reinforcing business system to become a higher growth, less market-sensitive and more nimble company. The company aims to create growth potential through earnings diversification and integrated cross-business solutions. Key strategic initiatives include expanding access to investing, insurance, and retirement security, and focusing on meeting the needs of customers and tapping into market opportunities through PGIM, U.S. Businesses and International Businesses.

PFI operates in the financial services industry, which is characterized by:

• Primary Industry: Financial Services
• Market Trends: The industry is impacted by market conditions, interest rate changes, and competition. Demographic trends in Japan suggest opportunities for product innovation in insurance products.
• Major Competitors: PFI competes with numerous asset managers and other financial institutions, including large, well-established life and health insurance providers.

• Investment Risks: Losses on investments or financial contracts due to deterioration in credit quality or value, or counterparty default.
• Insurance Risks: Losses on insurance products due to mortality experience, morbidity experience or policyholder behavior experience that differs significantly from expectations.
• Market Risks: Changes in interest rates, equity prices and foreign currency exchange rates that may adversely impact the profitability of products.
• Operational Risks: Financial or customer losses, or regulatory and legal actions, due to inadequate or failed processes or systems, external events, and human error or misconduct.
• Regulatory Risks: Changes in the regulatory landscape, including financial sector regulatory reform, changes in tax laws, fiduciary rules and other standards of care, U.S. state insurance laws and developments regarding group-wide supervision, capital and reserves, insurer capital standards outside the U.S. and privacy and cybersecurity regulation.