Articles from Prudential Financial, Inc.

PGIM Private Capital provided $14.9 billion of senior debt and junior capital to more than 238 middle-market companies and projects globally in 2024. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.38 trillion global management business of Prudential Financial, Inc. (NYSEPRU).

PGIM High Yield Bond Fund, Inc. (NYSEISD), PGIM Global High Yield Fund, Inc. NYSE: GHYNYSEGHY)(NYSE: SDHYNYSESDHY declared today monthly distributions for March, April, and May 2025. The distribution amounts and schedule for each fund appears below:

Prudential Financial, Inc. (NYSEPRU) announced today an expanded strategic relationship with Workday Inc. that harnesses the power of data and AI to help employers better tailor their benefits programs to meet the needs of their workforce.

Pat Hynes has been named president of Prudential Advisors, where he will lead Prudential Financial, Inc.’s (NYSEPRU) retail and advice arm. This business comprises more than 2,800 financial advisors and fee-based financial planners who offer clients, including more than 3.5 million American families, a full range of financial advice and solutions.

Prudential Financial, Inc. (NYSEPRU) today launched OneLeave, adding new absence and disability capabilities to help address the challenges of workplace leaves and the disruption it can create for both employers and employees.

PGIM DC Solutions, the retirement solutions provider of PGIM, announces the results of its Defined Contribution (DC) Landscape Survey, illuminating varying perspectives and trends across retirement plan decision-maker communities.

Prudential Financial, Inc. (NYSEPRU) today announced the appointment of Vicki Walia as Chief People Officer, effective March 31, 2025. Walia currently leads human resources for the company’s U.S. Businesses and PGIM, Prudential’s global asset management business.

Prudential Financial, Inc. (NYSEPRU) today reported year-end and fourth quarter 2024 results. Net income attributable to Prudential Financial, Inc. was $2.727 billion ($7.50 per Common share) for 2024, compared to $2.488 billion ($6.74 per Common share) for 2023. After-tax adjusted operating income was $4.588 billion ($12.62 per Common share) for 2024, compared to $4.380 billion ($11.88 per Common share) for 2023.

Prudential Financial, Inc. (NYSEPRU) announced today that it has been named to FORTUNE® magazine’s annual list of World’s Most Admired Companies. Further, Prudential ranked No. 1 in the Insurance: Life & Health industry.

Prudential Financial, Inc. (NYSEPRU) and Dai-ichi Life Holdings announced today their intent to pursue a strategic partnership focused on product distribution and asset management capabilities.

Prudential Financial, Inc. (NYSEPRU) announced today an agreement to reinsure a portion of its recently originated Japanese whole life policies with a subsidiary of Prismic Life (Prismic), a Bermuda-based life and annuity reinsurance company sponsored by Prudential and Warburg Pincus and supported by a group of global investors.

Prudential Financial, Inc. (NYSEPRU) today announced plans to collaborate with Dimensional Fund Advisors and Fiduciary Exchange LLC (FIDx) to bring protected lifetime income strategies to managed accounts via the FIDx Insurance Overlay marketplace. This initiative is designed to further meet the evolving needs of retirement investors who partner with registered investment advisors (RIAs), in a new, innovative way.

Prudential Financial, Inc. (NYSEPRU) will release its fourth quarter 2024 earnings on Tuesday, February 4, 2025, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company’s Investor Relations website at investor.prudential.com.

PGIM,1 the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSEPRU) launches the PGIM S&P 500 Max Buffer ETF series, the PGIM Nasdaq-100 Buffer 12 ETF series and the PGIM Laddered Nasdaq-100 Buffer 12 ETF (“the ETFs”).

Today Prudential Financial, Inc. (NYSEPRU) joins the world in welcoming Generation Beta (people born Jan. 1, 2025, to Dec. 31, 2039) by commissioning a first-of-its-kind report, Generation Beta: Redefining Life, Longevity, and Retirement, that reveals how Americans envision the future, and how technological, social and economic shifts will impact their financial security.

Prudential Financial, Inc. (NYSEPRU) announced today that it has successfully closed a reinsurance transaction for a portion of its guaranteed universal life block with Wilton Re. This transaction, originally announced on Aug. 20, 2024, advances Prudential’s strategic progress to become a higher growth and more capital efficient company. The financial impact of the transaction aligns with the impacts outlined at the time of the announcement.

The loss of a loved one is a profoundly difficult time, and navigating the financial, legal, emotional and logistical challenges that follow can often be daunting.

Prudential Financial, Inc. (NYSEPRU) today announced that the Board of Directors has appointed Andrew Sullivan as its next CEO, effective March 31, 2025. Sullivan, who currently serves as executive vice president and head of International Businesses and Global Investment Management, will succeed Charles F. Lowrey. Lowrey will remain as Executive Chairman of the Board for 18 months, working with the Board and supporting and advising Sullivan.

PGIM High Yield Bond Fund, Inc. (NYSEISD), PGIM Global High Yield Fund, Inc. NYSE: GHYNYSEGHY)(NYSE: SDHYNYSESDHY declared today monthly distributions for December 2024, and January and February 2025. The distribution amounts and schedule for each fund appears below:

Prudential Financial, Inc. (NYSEPRU) announced the appointment of Jacques Chappuis as president and CEO of PGIM, its $1.4 trillion global investment management business, effective May 1, 2025.

Prudential Financial, Inc. (NYSEPRU) announced today the declaration of a quarterly dividend of $1.30 per share of Common Stock, payable on December 12, 2024, to shareholders of record at the close of business on November 19, 2024.

Prudential Financial, Inc. (NYSEPRU) today reported third quarter results. Net income attributable to Prudential Financial, Inc. was $448 million ($1.24 per Common share) for the third quarter of 2024, compared to a net loss of $802 million ($2.23 per Common share) for the third quarter of 2023. After-tax adjusted operating income was $1.260 billion ($3.48 per Common share) for the third quarter of 2024, compared to $1.332 billion ($3.62 per Common share) for the third quarter of 2023.

PGIM Multi-Asset Solutions (PMA) has appointed Mao Dong as co-head of Portfolio Management.

Prudential Financial, Inc. (NYSEPRU) will release its third quarter 2024 earnings on Wednesday, October 30, 2024, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company’s Investor Relations website at investor.prudential.com.

PGIM,1 the $1.33 trillion global investment management business of Prudential Financial, Inc. (NYSEPRU), and iJoin, a leading retirement plan technology innovator, have announced that the PGIM RetireWell™ Managed Accounts — a highly personalized offering — will soon be available to the growing list of iJoin-enabled recordkeepers through its Managed Account Program (MAP) marketplace. This integration leverages the power of the PGIM RetireWell™ Advice Engine in combination with iJoin’s goals-based user experience, portfolio allocation technology, and a plan advisor’s investment lineup to enable a more holistic retirement planning journey for plan participants.

Prudential Financial, Inc. (NYSEPRU) has introduced a Stop Loss Insurance product aimed at helping protect companies with self-funded employee medical plans against catastrophic medical claim payouts.

A new survey from PGIM, the $1.33 trillion global asset management business of Prudential Financial, Inc. (NYSEPRU),* finds that amid trade tensions between the U.S., Europe and China, major elections in over 70 countries this year, military conflicts, and structural changes in the global economy, more than half of top institutional investors (56%) say the threat level to their investments from geopolitical risk is their top concern. Even so, one-third plan a shift to higher-risk investments in 2025.

PGIM High Yield Bond Fund, Inc. (NYSEISD), PGIM Global High Yield Fund, Inc. NYSE: GHYNYSEGHY)(NYSE: SDHYNYSESDHY declared today monthly distributions for September, October and November 2024. The distribution amounts and schedule for each fund appears below:

The Prudential Insurance Company of America has been selected in an industry-first multiemployer plan pension risk transfer (PRT), to fulfill retirement benefit promises for the Sound Retirement Trust, a Seattle-based joint labor-management board of trustees that provides grocery workers of contributing employers with retirement benefits.

Prudential Group Insurance has enhanced its well-being program with the launch of a digitally accessible hub, offering a new access point to solutions and strategic partnerships that are aligned with the company’s Life, Absence and Disability products.

Prudential Financial, Inc. (NYSEPRU) announced today an agreement to reinsure a portion of its guaranteed universal life block with Wilton Re, resulting in approximately $350 million of expected proceeds, post-closing.

Prudential Financial, Inc., has launched Prudential Momentum IUL℠, a new indexed universal life product issued by Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey (in NY) that provides the financial resiliency in growth and protection that customers need to withstand changing life events.

Prudential Financial, Inc. (NYSEPRU) will participate in the 2024 KBW Insurance Conference on Wednesday, September 4, 2024. On that day at approximately 10:50 a.m. ET, Charles Lowrey, chairman and CEO, will participate in an analyst-led fireside chat.

Prudential Financial, Inc. (NYSEPRU) announced today the declaration of a quarterly dividend of $1.30 per share of Common Stock, payable on September 12, 2024, to shareholders of record at the close of business on August 20, 2024.

Prudential Financial, Inc. (NYSEPRU) today reported second quarter results. Net income attributable to Prudential Financial, Inc. was $1.198 billion ($3.28 per Common share) for the second quarter of 2024, compared to $511 million ($1.38 per Common share) for the second quarter of 2023. After-tax adjusted operating income was $1.234 billion ($3.39 per Common share) for the second quarter of 2024, compared to $1.142 billion ($3.09 per Common share) for the second quarter of 2023.

Prudential Financial, Inc. (NYSEPRU) will release its second quarter 2024 earnings on Thursday, August 1, 2024, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company’s Investor Relations website at investor.prudential.com.

Prudential Financial, Inc. (NYSEPRU) today published its 13th consecutive annual Sustainability Report, providing a comprehensive overview of the company’s efforts to deliver on its purpose and create sustainable value for the customers, clients, shareholders, employees and communities it serves.

Prudential Financial, Inc. (NYSEPRU) announced today that Carmine Di Sibio has been elected to the Board of Directors as an independent director, effective July 1, 2024. He will serve on the Board’s Audit Committee.

As a record number of Americans reach the traditional 65-year retirement age in 2024, a younger demographic of critically underprepared pre-retirees begins a 10-year countdown to protect retirement outcomes, according to Prudential Financial, Inc.’s 2024 Pulse of the American Retiree Survey.

Prudential Financial, Inc. (NYSEPRU) will participate in the Morgan Stanley 2024 U.S. Financials Conference on Wednesday, June 12, 2024. On that day at approximately 1:45 p.m. ET, Rob Falzon, vice chairman, will participate in an analyst-led fireside chat.

Prudential Financial, Inc. (NYSEPRU) announced today that Andrew Yorks will join the company as head of Global Investment Strategy, effective July 15. Yorks will report to Tim Schmidt, senior vice president and chief investment officer.

Prudential Financial, Inc. (NYSEPRU) announced today the declaration of a quarterly dividend of $1.30 per share of Common Stock, payable on June 13, 2024, to shareholders of record at the close of business on May 21, 2024.

Prudential Financial, Inc. (NYSEPRU) today reported first quarter results. Net income attributable to Prudential Financial, Inc. was $1.138 billion ($3.12 per Common share) for the first quarter of 2024, compared to $1.462 billion ($3.93 per Common share) for the first quarter of 2023. After-tax adjusted operating income was $1.141 billion ($3.12 per Common share) for the first quarter of 2024, compared to $1.004 billion ($2.70 per Common share) for the first quarter of 2023.

Prudential Financial, Inc. (NYSEPRU) will release its first quarter 2024 earnings on Tuesday, April 30, 2024, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company’s Investor Relations website at investor.prudential.com.

Prudential Financial, Inc. (NYSEPRU) announced today that it has successfully closed a reinsurance transaction for a portion of its guaranteed universal life block with Somerset Re. This transaction, originally announced on July 24, 2023, advances the company’s strategy to reduce market sensitivity and increase capital efficiency. The financial impacts of the transaction are expected to be generally consistent with those highlighted in the prior announcement.

Prudential Financial, Inc. (NYSEPRU) and Reinsurance Group of America, Incorporated NYSE: RGANYSERGA)

Prudential Financial, Inc. (NYSEPRU) announced today that it will redeem all of the $500,000,000 outstanding aggregate principal amount of its 5.20% Fixed-to-Floating Rate Junior Subordinated Notes due 2044 (CUSIP/ISIN No. 744320AN2 / US744320AN25) (the “Notes”). The Notes will be redeemed on March 15, 2024 at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the redemption date.

Prudential Financial, Inc. (PFI) (NYSEPRU) closed a pension risk transfer transaction with Shell USA, Inc. for $4.9 billion in pension obligations covering a block of about 21,500 of the company’s U.S. retirees.

Prudential Financial, Inc. (NYSEPRU) announced today that Mike Estep, head of product for Group Insurance, will succeed Yanela Frias as president of its Group Insurance business following Frias’ appointment as Prudential’s CFO. The change is effective March 15, 2024. Estep will report to Caroline Feeney, head of Prudential’s U.S. Businesses.

Prudential Financial, Inc. (NYSEPRU) today reported fourth quarter and year-end 2023 results. Net income attributable to Prudential Financial, Inc. was $1.317 billion ($3.61 per Common share) for the fourth quarter of 2023, compared to a net loss of $52 million ($0.16 per Common share) for the fourth quarter of 2022. After-tax adjusted operating income was $943 million ($2.58 per Common share) for the fourth quarter of 2023, compared to $932 million ($2.49 per Common share) for the fourth quarter of 2022.

Prudential Financial, Inc. (NYSEPRU) announced today that Yanela Frias, president of Group Insurance, has been appointed executive vice president and CFO, effective March 15, 2024, succeeding Ken Tanji. Frias will join the executive leadership team as an executive officer and report to Robert Falzon, vice chair of Prudential. Tanji will remain with the company through Sept. 30, 2024, to ensure a smooth transition.

Prudential Financial, Inc. (NYSEPRU) is collaborating with Fidelity Investments™ to address growing demand among consumers for a workplace retirement plan option that will convert participants’ retirement savings into a protected stream of income.

Rutgers basketball has a new partner on the bench this season: Prudential Financial, Inc. (NYSEPRU). The global financial services company has signed on as the men’s and women’s basketball program’s presenting sponsor and will also provide access to financial education and funded investment accounts for domestic Rutgers student-athletes in a variety of sports.

Prudential Financial, Inc. (NYSEPRU) will release its fourth quarter 2023 earnings on Tuesday, February 6, 2024, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company’s Investor Relations website at investor.prudential.com.

Prudential Financial, Inc. (NYSEPRU) today announced that its subsidiary entered into a $9.2 billion1 longevity risk transfer agreement with NN Life, a subsidiary of NN Group. The transaction reinsures a block of more than 200,000 policies with The Prudential Insurance Company of America (Prudential), effective Dec. 31, 2023.

Prudential Financial, Inc. (NYSEPRU) will participate in the Goldman Sachs 2023 US Financial Services Conference on Tuesday, December 5, 2023. On that day at approximately 9:20 a.m. ET, Charles Lowrey, chairman and CEO, will participate in an analyst-led fireside chat.

Prudential Financial, Inc. (NYSEPRU) announced today the declaration of a quarterly dividend of $1.25 per share of Common Stock, payable on December 14, 2023, to shareholders of record at the close of business on November 21, 2023.

Prudential Financial, Inc. (NYSEPRU) today reported third quarter results. Net loss attributable to Prudential Financial, Inc. was $802 million ($2.23 per Common share) for the third quarter of 2023, compared to a net loss of $92 million ($0.26 per Common share) for the third quarter of 2022. After-tax adjusted operating income was $1.266 billion ($3.44 per Common share) for the third quarter of 2023, compared to $896 million ($2.37 per Common share) for the third quarter of 2022.

Prudential Financial, Inc. (NYSEPRU) will release its third quarter 2023 earnings on Wednesday, November 1, 2023, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company’s Investor Relations website at investor.prudential.com.

Prudential Financial, Inc. (NYSEPRU) has made a new strategic partnership with EvolutionIQ, a technology company with an artificial intelligence-driven platform that will enhance Prudential’s disability claims ecosystem.

Prudential Financial, Inc. (NYSEPRU) (Prudential) and Warburg Pincus today announced the launch of Prismic Life Reinsurance, Ltd. (Prismic), a licensed Class E Bermuda-based life and annuity reinsurance company. Prudential and Warburg Pincus, together with a group of investors, have agreed to make equity investments in Prismic and will oversee its long-term strategy through participation on its board of directors.

Prudential Financial, Inc. (NYSEPRU) announced today that Kathleen Murphy has been elected to the Board of Directors as an independent director, effective September 11, 2023.

Prudential Financial, Inc. (NYSEPRU) will participate in the 2023 Barclays Global Financial Services Conference on Wednesday, September 13, 2023. On that day at approximately 9:45 a.m. ET, Charles Lowrey, chairman and CEO, will participate in an analyst-led fireside chat.

Prudential Financial, Inc. (NYSEPRU) announced today that four aspiring artists have been selected to receive an all-expenses-paid trip to NYC and perform with Broadway idols in front of an estimated 50,000 spectators in Times Square during the free Curtain Up: A Broadway Festival taking place Sept. 8-10.

Prudential Financial, Inc. (NYSEPRU) announced today that it is partnering with the next generation of tennis talent – 19-year-old Ethan Quinn – in a brand deal that showcases Ethan at a new stage in his life: Preparing for competition as he makes his professional debut and thinking about…retirement.

Prudential Financial, Inc. (NYSEPRU) announced today the declaration of a quarterly dividend of $1.25 per share of Common Stock, payable on September 14, 2023, to shareholders of record at the close of business on August 22, 2023.

Prudential Financial, Inc. (NYSEPRU) today reported second quarter results. Net income attributable to Prudential Financial, Inc. was $511 million ($1.38 per Common share) for the second quarter of 2023, compared to a net loss of $1.010 billion ($2.71 per Common share) for the second quarter of 2022. After-tax adjusted operating income was $1.087 billion ($2.94 per Common share) for the second quarter of 2023, compared to $895 million ($2.34 per Common share) for the second quarter of 2022.

Prudential Financial, Inc. (NYSEPRU) announced today an agreement to reinsure a portion of its guaranteed universal life block with Somerset Re, resulting in approximately $450 million of proceeds.1

Prudential Financial, Inc. (NYSEPRU) has released its annual sustainability report, providing a comprehensive overview of the company’s efforts to deliver sustainable value to the customers, clients, shareholders, employees and communities it serves.

Prudential Financial has signed on as the title sponsor for the Brick City HBCU Kickoff Classic, which features Grambling State University and Hampton University kicking off at 3 p.m. ET on Sept. 2 at Red Bull Arena in Harrison, New Jersey. The Newark-based financial services company will have branding on all official game-related digital platforms as well as marketing materials and merchandise, and the Prudential logo will be featured on the 50-yard line.

Prudential Financial, Inc. (NYSEPRU) announced today it has formed a strategic partnership with Nayya, a leading benefits experience platform, to harness artificial intelligence and data science that empowers employees to make better workplace benefits decisions.

Prudential Financial, Inc. (NYSEPRU) will release its second quarter 2023 earnings on Tuesday, August 1, 2023, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company’s Investor Relations website at investor.prudential.com.

Prudential Financial, Inc. (NYSEPRU) announced today that it has appointed Nandini Mongia, currently senior vice president and treasurer, as president of Prudential Open-Architecture Solutions, effective June 19. She will report to the company’s chairman and CEO, Charles Lowrey.

America’s 65 million Generation Xers (born between 1965 and 1980) are confronted with a new set of financial challenges that are redefining their plans for retirement, just as they enter their final working years, according to Prudential Financial, Inc.’s (NYSEPRU) latest Pulse research survey, “Gen X: Retirement Revised.”

Prudential Financial, Inc. (NYSEPRU) announced today an agreement to reinsure a portion of its traditional variable annuity block with an affiliate of Constellation Insurance Holdings, Inc., for proceeds at closing resulting in approximately $650 million.1