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Prudential Financial Inc   (PRU)
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    Sector  Financial    Industry Life Insurance
   Industry Life Insurance
   Sector  Financial
 

Prudential Financial Inc's Customers Performance

PRU

 
PRU's Source of Revenues In the Q4, Prudential Financial Inc 's corporate clients experienced a fall by -30.32 % in their costs of revenue, compared to a year ago, sequentially costs of revenue grew by 165.35 %. During the corresponding time, Prudential Financial Inc recorded revenue increase by 13.12 % year on year, sequentially revenue grew by 80.6 %. While revenue at the Prudential Financial Inc 's corporate clients recorded rose by 71.76 % year on year, sequentially revenue grew by 6.84 %.

List of PRU Customers




Customers of Prudential Financial Inc saw their costs of revenue fall by -30.32 % in Q4 compare to a year ago, sequentially costs of revenue grew by 165.35 %, for the same period Prudential Financial Inc recorded revenue increase by 13.12 % year on year, sequentially revenue grew by 80.6 %.

List of PRU Customers


   
Customers recorded net loss in Q4 Customers recorded net loss



Prudential Financial Inc's Customers, Q4 2023 Revenue Growth By Industry
Customers in Life Insurance Industry      2162.29 %
Customers in Insurance Brokerage Industry      12.25 %
Customers in Property & Casualty Insurance Industry      9.44 %
Customers in Investment Services Industry    
Customers in Commercial Banks Industry -5.63 %   
     
• Customers Valuation • Customers Mgmt. Effect.


Prudential Financial Inc's Comment on Sales, Marketing and Customers



Our annuity products are distributed through a diverse group of third-party broker-dealers and their representatives, in banks, wirehouses, and through independent financial planners. Additionally, our variable annuity products are distributed through insurance agents, including Prudential Agents and the agency distribution force of The Allstate Corporation, or Allstate.

We distribute our products through a variety of channels. In our full service business, our dedicated sales and support teams manage our distribution efforts in offices across the country. We sell our products and services through third-party financial advisors, brokers, and benefits consultants and, to a lesser extent, directly to plan sponsors.

In our stable value area within our institutional investment products business, we utilize our direct sales force and intermediaries to distribute investment-only stable value wraps and traditional GICs to plan sponsors and stable value fund managers, and to distribute funding agreements and institutional notes to investors. We also manage a global Funding Agreement Notes Issuance Program, or FANIP, pursuant to which a statutory trust issues medium-term notes secured by funding agreements issued to the trust by Prudential Insurance. Prudential Insurance may also issue funding agreements directly to the Federal Home Loan Bank of New York (“FHLBNY”).

In our payout annuity area within our institutional investment products business, our pension risk transfer products, traditional group annuities and participating separate account annuities are typically distributed through actuarial consultants and third-party brokers. Structured settlements are distributed through structured settlement specialists. Voluntary income products are distributed through the defined contribution portion of our full service business, directly to plan sponsors, or as part of annuity shopping services.

Most of the retail customer assets under management are invested in our mutual funds and our variable annuities and variable life insurance products. These assets are gathered by other segments of our Financial Services Businesses and third party networks. Additionally, we work with third party product manufacturers and distributors to include our investment options in their products and platforms.

Third Party Distribution. Our individual life products are offered through a variety of third party channels, including independent brokers, wirehouses, banks, general agencies and producer groups. We focus on sales through independent intermediaries who provide life insurance solutions to protect individuals, families and businesses and support estate and wealth transfer planning.

Prudential Agents. Our Prudential Agents distribute Prudential variable, term and universal life insurance, variable and fixed annuities and investment products with proprietary and non-proprietary investment options as well as selected insurance and investment products manufactured by others primarily to customers in the U.S. mass and mass affluent markets, as well as small business owners. Prudential Agents also have access to non-proprietary property and casualty products under distribution agreements entered into with the purchasers of our property and casualty insurance operations, which we sold in 2003, and other third party providers.

As mentioned above, the Individual Life segment distributes products offered by the Annuities and Asset Management segments and is paid a market rate by these businesses to distribute their products. These payments may be more or less than the associated distribution costs, and any profit or loss is included in the results of the Individual Life segment.

Group Insurance has its own dedicated sales force that is organized around market segments and distributes primarily through employee benefit brokers and consultants.

Our International Insurance segment distributes its products through multiple distribution channels. This includes two captive agent models, Life Planners and Life Consultants, as well as bank and independent agency third party distribution channels.

Life Planners. Our Life Planner model differentiates us from competitors in the countries where we do business by focusing on selling protection-oriented life insurance products on a needs basis to mass affluent and affluent customers, as well as retirement-oriented products to small businesses. We believe that our recruiting and selection process, training programs and compensation packages are key to the Life Planner model and have helped our Life Planner operations achieve higher rates of agent retention, agent productivity and policy persistency than our local competitors. The attributes considered when recruiting new Life Planners generally include but are not limited to: University/College degree, no prior life insurance sales experience, a minimum of two years of sales or sales management experience, and a pattern of job stability and success.


Bank Distribution Channel. Our Gibraltar Life operation has been selling its products through banks since 2006. Bank distribution channel sales primarily consist of products intended to provide savings features and premature death protection, and retirement income as well as fixed annuity products primarily denominated in U.S. and Australian dollars. We view the bank distribution channel as a supplement to our core Life Planner and Life Consultant distribution channels and will pursue it on an opportunistic basis with a focus on profitable growth.

A significant portion of our sales in Japan through our bank channel distribution are derived through a single Japanese mega-bank. However, we have relationships with Japan’s four largest banks as well as many regional banks, and we continue to explore opportunities to expand our distribution capabilities through this channel, as appropriate.



  News about Prudential Financial Inc Contracts

Prudential Financial Fortifies Market Position with Strategic Initiatives: Completes Reinsurance Transaction, Launches Prudential SimplyIncomeSM, and Partners with Rutgers Athletics

Prudential Financial Enhances Market Position with Recent Reinsurance Transaction and Workplace Retirement Plan CollaborationPrudential Financial, Inc. (NYSE: PRU) has recently made significant strides in strengthening its market position through strategic initiatives. The completion of a reinsurance transaction with Somerset Re for a portion of its guaranteed universal life block, combined with the launch of Prudential SimplyIncomeSM on Fidelity Investments' platform, and a new partnership with Rutgers Athletics, highlights the company's commitment to reducing market sensitivity, increasing capital efficiency, and meeting evolving consumer demands.The reinsurance transaction with Somerset Re, initially anno...

Prudential and RGA Secure $5.9 Billion Pension Deal with Verizon, While Prudential Financial Inc. Sees Mixed Results with Corporate Clients

In a significant move within the pension industry, Prudential Financial Inc. (NYSE: PRU) and Reinsurance Group of America, Incorporated (NYSE: RGA) have been entrusted with fulfilling $5.9 billion in pension promises for Verizon Communications Inc. This landmark transaction aims to provide retirement security for a population of 56,000 Verizon retirees and their beneficiaries. In addition, this article delves into Prudential Financial Inc.'s overall corporate performance, highlighting both positive and negative trends observed with its business clients.Pension Risk Transfer with Verizon:Verizon has chosen Prudential Financial Inc. and RGA to settle approximately $5.9 billion of pension liabilities, ensuring ...

Prudential Financial Partners with Rutgers Athletics Amid Divergent Financial Beleaguerment.

Rutgers Athletics has recently entered a partnership with Prudential Financial, Inc., the prominent global financial services firm listed on the NYSE. Prudential Financial isn't just the presenting sponsor for both the men's and women's basketball programs, they will also offer financial education, as well as funded investment accounts, to domestic Rutgers student-athletes across various sports. This move is aimed to harness the power of compound interest, transforming the money invested by student-athletes in their youth into substantial retirement savings.However, Prudential Financial's Q3 report exhibited a concerning 15.84% deterioration in the cost of revenue of corporate clients compared to a year ago ...

PGIM Introduces Game-Changing Buffer ETFs as Prudential Financial Inc. Navigates Unforeseen Challenges

Prudential Financial Inc. (NYSE: PRU), the $1.2 trillion global investment management business, has recently faced a challenging quarter with a significant decline in both revenue and costs of revenue. However, amidst these obstacles, PGIM, Prudential Financial's investment management arm, has launched two new buffer ETF series that could potentially provide a boost to the company's investment prospects.The PGIM U.S. Large-Cap Buffer 12 ETF series and the PGIM U.S. Large-Cap Buffer 20 ETF series are set to launch on a rolling basis, with 12% and 20% buffer ETFs being released on the first business day of each month throughout the year. These innovative ETFs, listed on the Cboe BZX, offer investors downside p...

PGIM Expands its Suite with Four Active ETFs Amid Prudential Financial's Revenue Turbulence


PGIM, Prudential Financial Inc's (NYSE: PRU) mammoth $1.2 trillion global investment management unit, is broadening its product lineup with a quartet of new actively managed exchange-traded funds (ETFs). This move comes amid a challenging period where Prudential?s corporate clients grappled with substantially deteriorated costs of revenue and sequential revenue losses.
The launched offerings consist of the PGIM Jennison International Opportunities ETF(PJIO), PGIM Jennison Better Future ETF(PJBF), PGIM Jennison Focused Mid-Cap ETF(PJFM), and the PGIM Short Duration High Yield ETF (PSH). Now, PGIM furnishes its investors with a robust set of 14 active ETFs.
Despite the constrained financial lands...




Prudential Financial Inc's Comment on Sales, Marketing and Customers


Our annuity products are distributed through a diverse group of third-party broker-dealers and their representatives, in banks, wirehouses, and through independent financial planners. Additionally, our variable annuity products are distributed through insurance agents, including Prudential Agents and the agency distribution force of The Allstate Corporation, or Allstate.

We distribute our products through a variety of channels. In our full service business, our dedicated sales and support teams manage our distribution efforts in offices across the country. We sell our products and services through third-party financial advisors, brokers, and benefits consultants and, to a lesser extent, directly to plan sponsors.

In our stable value area within our institutional investment products business, we utilize our direct sales force and intermediaries to distribute investment-only stable value wraps and traditional GICs to plan sponsors and stable value fund managers, and to distribute funding agreements and institutional notes to investors. We also manage a global Funding Agreement Notes Issuance Program, or FANIP, pursuant to which a statutory trust issues medium-term notes secured by funding agreements issued to the trust by Prudential Insurance. Prudential Insurance may also issue funding agreements directly to the Federal Home Loan Bank of New York (“FHLBNY”).

In our payout annuity area within our institutional investment products business, our pension risk transfer products, traditional group annuities and participating separate account annuities are typically distributed through actuarial consultants and third-party brokers. Structured settlements are distributed through structured settlement specialists. Voluntary income products are distributed through the defined contribution portion of our full service business, directly to plan sponsors, or as part of annuity shopping services.

Most of the retail customer assets under management are invested in our mutual funds and our variable annuities and variable life insurance products. These assets are gathered by other segments of our Financial Services Businesses and third party networks. Additionally, we work with third party product manufacturers and distributors to include our investment options in their products and platforms.

Third Party Distribution. Our individual life products are offered through a variety of third party channels, including independent brokers, wirehouses, banks, general agencies and producer groups. We focus on sales through independent intermediaries who provide life insurance solutions to protect individuals, families and businesses and support estate and wealth transfer planning.

Prudential Agents. Our Prudential Agents distribute Prudential variable, term and universal life insurance, variable and fixed annuities and investment products with proprietary and non-proprietary investment options as well as selected insurance and investment products manufactured by others primarily to customers in the U.S. mass and mass affluent markets, as well as small business owners. Prudential Agents also have access to non-proprietary property and casualty products under distribution agreements entered into with the purchasers of our property and casualty insurance operations, which we sold in 2003, and other third party providers.

As mentioned above, the Individual Life segment distributes products offered by the Annuities and Asset Management segments and is paid a market rate by these businesses to distribute their products. These payments may be more or less than the associated distribution costs, and any profit or loss is included in the results of the Individual Life segment.

Group Insurance has its own dedicated sales force that is organized around market segments and distributes primarily through employee benefit brokers and consultants.

Our International Insurance segment distributes its products through multiple distribution channels. This includes two captive agent models, Life Planners and Life Consultants, as well as bank and independent agency third party distribution channels.

Life Planners. Our Life Planner model differentiates us from competitors in the countries where we do business by focusing on selling protection-oriented life insurance products on a needs basis to mass affluent and affluent customers, as well as retirement-oriented products to small businesses. We believe that our recruiting and selection process, training programs and compensation packages are key to the Life Planner model and have helped our Life Planner operations achieve higher rates of agent retention, agent productivity and policy persistency than our local competitors. The attributes considered when recruiting new Life Planners generally include but are not limited to: University/College degree, no prior life insurance sales experience, a minimum of two years of sales or sales management experience, and a pattern of job stability and success.


Bank Distribution Channel. Our Gibraltar Life operation has been selling its products through banks since 2006. Bank distribution channel sales primarily consist of products intended to provide savings features and premature death protection, and retirement income as well as fixed annuity products primarily denominated in U.S. and Australian dollars. We view the bank distribution channel as a supplement to our core Life Planner and Life Consultant distribution channels and will pursue it on an opportunistic basis with a focus on profitable growth.

A significant portion of our sales in Japan through our bank channel distribution are derived through a single Japanese mega-bank. However, we have relationships with Japan’s four largest banks as well as many regional banks, and we continue to explore opportunities to expand our distribution capabilities through this channel, as appropriate.










PRU's vs. Customers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Prudential Financial Inc 43,336.97 53,979.00 2,508.00 40,916
Lpl Financial Holdings Inc 20,267.32 10,052.85 1,066.25 3,410
Security National Financial Corporation 173.98 351.77 32.87 1,271
Atlantic American Corp 57.86 185.28 3.10 147
American National Group Inc 5,108.64 4,299.31 639.89 4,736
Citizens Inc 106.91 240.68 24.44 620
First Trinity Financial Corp 0.00 75.76 7.92 9
Truist Financial Corporation 50,087.34 21,281.00 -1,047.00 52,641
National Security Group Inc. 41.46 66.13 0.82 1
National Western Life Group Inc 1,736.96 639.35 128.42 261
Primerica Inc 9,043.26 2,776.29 553.51 1,764
Sundance Strategies Inc 42.24 0.00 -2.49 3
Utg Inc 98.25 44.80 16.24 42
Voya Financial Inc 7,795.01 7,348.00 729.00 0
Arthur J Gallagher and Co 53,997.47 19,196.90 1,141.10 39,000
Brown and Brown Inc 24,835.95 4,132.40 747.00 12,023
Crawford and Co 384.85 1,338.22 -9.39 8,941
Erie Indemnity Company 21,228.95 3,297.91 446.06 4,800
Corvel Corporation 4,453.07 749.96 74.72 3,508
Amerisafe Inc 949.45 306.50 63.71 449
China United Insurance Service Inc 46.04 134.74 15.91 2,239
Employers Holdings Inc 1,187.37 850.90 118.10 716
Horace Mann Educators Corporation 1,489.54 1,491.90 45.00 1,350
United Fire Group Inc 550.47 1,174.22 36.38 1,057
Assured Guaranty Ltd 5,394.70 1,373.00 761.00 300
Midwest Holding Inc 102.33 37.47 1.06 0
SUBTOTAL 209,179.40 81,445.32 5,593.61 139,288


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