Prudential Financial Inc (PRU) |
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Prudential Financial Inc's Customers Performance
PRU
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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
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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
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Customers recorded net loss in Q4 |
Customers recorded net loss |
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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 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...
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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 ...
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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 ...
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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...
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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...
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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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