Welcome to our dedicated page for Prudential Finl news (Ticker: PRU), a resource for investors and traders seeking the latest updates and insights on Prudential Finl stock.
Prudential Financial, Inc. (NYSE: PRU) is a global financial services company in the direct life insurance carriers industry, with operations in the United States, Asia, Europe and Latin America. As a major U.S. life insurer and active global investment manager through its PGIM business, Prudential generates a steady flow of news on insurance, retirement strategies, asset management and corporate developments.
This PRU news page highlights company announcements about earnings releases, leadership changes, product launches and strategic initiatives. Recent communications include schedules for quarterly earnings releases and conference calls, leadership realignments across U.S. businesses, Emerging Markets, the Japan Group and PGIM, and appointments to roles such as chief investment officer and global head of investor relations.
Investors and followers of PRU stock can also find news about Prudential’s retail arm, Prudential Advisors, including the expansion of its advisor network, the launch of the Prudential Advisors Connect mobile app with AI‑enhanced productivity tools, and the addition of experienced advisor teams and practices. Other items cover product innovations such as the launch of FlexGuard 2.0, an evolution of Prudential’s registered index‑linked annuity lineup, and partnerships and platforms supported by PGIM and Prudential, such as real estate joint ventures and reinsurance vehicles like Prismic Life.
By reviewing this news feed, readers can track how Prudential manages its global insurance and asset management franchises, how it supports advisors and clients, and how leadership and capital decisions are communicated to the market. Bookmark this page to monitor ongoing PRU announcements and official company updates.
Prudential Financial (NYSE: PRU) announced significant leadership changes. Andrew Sullivan, currently executive vice president and head of International Businesses and Global Investment Management, will become CEO effective March 31, 2025, succeeding Charles F. Lowrey, who will serve as Executive Chairman for 18 months.
Sullivan oversees the International Insurance segment and PGIM, the firm's $1.4 trillion global investment management business. Caroline Feeney will become Global Head of Insurance and Retirement, while Vice Chair Robert Falzon will retire after 42 years with the firm, effective July 11, 2025.
The transition follows a thorough succession planning process, with the company aiming to create additional opportunities for collaboration and growth by bringing U.S. and international insurance and retirement businesses under one global division.
Acathia Capital has increased its stake in Futur, Sweden's leading pension and savings platform, through a GP-led secondary transaction backed by Montana Capital Partners, a PGIM subsidiary. Since 2019, Acathia and Polaris Private Equity have jointly managed Futur, which has tripled its assets under management to SEK 240bn and quadrupled profits. Futur has transformed Sweden's life insurance market through digitalization, achieving cost and service leadership. Acathia acquired shares from a co-investor through its new vehicle Fjord Pension SCS, now managing over EUR 300 million AuM.
Affirm Holdings (NASDAQ: AFRM) and PGIM Fixed Income, a Prudential Financial company, announced the completion of a $500 million private purchase of Affirm loans. This transaction deepens their partnership, with PGIM Fixed Income managing over $120 billion in assets across public and private securitized credit. Previously, PGIM invested in Affirm’s public asset-backed securitizations. Affirm has issued 21 securitizations totaling nearly $10 billion, involving over 130 capital partners. PGIM sees Affirm’s assets as an attractive investment opportunity, enhancing its origination relationships. Affirm empowers 19 million active consumers and generated over $28 billion in GMV for the last twelve months ending September 30, 2024. Its funding capacity has grown by 50% over the last two years to $16.8 billion as of September 30, 2024.
Prudential Financial has appointed Jacques Chappuis as the new president and CEO of PGIM, its $1.4 trillion global investment management business, effective May 1, 2025. Chappuis, formerly co-head of Morgan Stanley Investment Management, will succeed David Hunt, who will retire after a successful 13-year tenure but remain as chairman until July 31, 2025 to ensure a smooth transition. Under Hunt's leadership, PGIM's assets under management grew from $619 billion to $1.4 trillion, with significant expansion in the UK, Europe, and Japan. Chappuis brings nearly 30 years of investment management experience and will report to Andrew Sullivan, head of International Businesses and Global Investment Management.
Prudential Financial (NYSE: PRU) has declared a quarterly dividend of $1.30 per share of Common Stock, payable on December 12, 2024, to shareholders of record as of November 19, 2024. The company, a global financial services leader, manages approximately $1.6 trillion in assets as of September 30, 2024, with operations across the United States, Asia, Europe, and Latin America.
Prudential Financial reported Q3 2024 net income of $448 million ($1.24 per share), compared to a net loss of $802 million in Q3 2023. After-tax adjusted operating income was $1.260 billion ($3.48 per share), slightly down from $1.332 billion year-ago. Assets under management grew to $1.558 trillion, up from $1.361 trillion. The company returned $721 million to shareholders through $250 million in share repurchases and $471 million in dividends. Notable highlights include robust sales across U.S. and international insurance businesses, strong investment performance in PGIM, and an $11 billion Guaranteed Universal Life reinsurance transaction.
PGIM Multi-Asset Solutions (PMA) has announced key appointments to strengthen its portfolio management and risk capabilities. Mao Dong joins as co-head of Portfolio Management from Goldman Sachs Asset Management, bringing extensive experience in multi-asset portfolio management. Eoin Elliffe was hired as chief risk officer in June to enhance PMA's risk framework.
These appointments come as PMA continues to expand, having grown its AUM to $17 billion since its formation in 2022. The team aims to meet the increasing demand for complex multi-asset class portfolio construction and management from insurance, reinsurance, and pension fund clients.
PMA was recently appointed as the asset manager for an $11 billion reinsurance transaction between Prudential Financial and Wilton Re, marking its second significant reinsurance mandate.
Prudential Financial, Inc. (NYSE: PRU) has announced it will release its third quarter 2024 earnings on Wednesday, October 30, 2024, after market close. The company will host a conference call on Thursday, October 31, 2024, at 11:00 a.m. ET for the investment community to discuss the results. The earnings release, financial supplement, and related materials will be available on Prudential's Investor Relations website.
The conference call will be broadcast live on the company's website and accessible via phone. A replay will be available until November 14. Prudential Financial, a global financial services leader with approximately $1.5 trillion in assets under management as of June 30, 2024, operates in the United States, Asia, Europe, and Latin America.
PGIM, the $1.33 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), has partnered with iJoin to expand access to PGIM RetireWell™ Managed Accounts. This integration combines PGIM's RetireWell™ Advice Engine with iJoin's goals-based user experience and portfolio allocation technology to offer a more personalized retirement planning journey for plan participants.
The PGIM RetireWell Managed Accounts, configurable as a plan's Qualified Default Investment Alternative (QDIA) or via opt-in, use proprietary methodology and patent-pending technology to create personalized retirement strategies based on individual data, preferences, and goals. The partnership aims to address the challenge of transforming savings into adequate, sustainable retirement income for American workers.
Available through iJoin-enabled recordkeepers, this collaboration offers financial advisors more product choices to make informed recommendations based on plan and participant suitability. The integration is expected to provide a highly differentiated user experience that addresses complex retirement planning needs while remaining intuitive for users.
Advent International, a leading global private equity firm, has appointed Carmine Di Sibio, former EY Global Chairman and CEO, as an Operating Partner. Di Sibio will help identify, source, and execute new deals in the business and financial services sector, working closely with Advent's team and current portfolio.
Di Sibio's nearly four-decade career at EY saw him rise from auditor to Global Chairman and CEO, where he led significant transformations focusing on digital innovation, sustainability, and geographic expansion. Under his leadership, EY invested over US$10 billion in technology, solutions, and people, achieving revenues of US$50 billion and a global workforce of 400,000.
Advent has been investing in the business and financial services sector for over 30 years, completing over 88 investments worldwide. The firm focuses on financial services providers and B2B players with technology at their core, seeking growth underpinned by robust macro trends, resilient business models, and transformational opportunities.