Prudential Newsroom

Prudential Financial to acquire Assurance IQ, Inc., a leading consumer solutions platform for health and financial wellness needs, for $2.35 billion

Thu, 05 Sep 2019 06:45:00 EST

NEWARK, N.J., & BELLEVUE, Wash., September 05, 2019 - Prudential Financial, Inc. (NYSE: PRU) today announced that it has signed a definitive agreement to acquire Assurance IQ, Inc., "Assurance," a profitable, fast-growing direct-to-consumer platform that transforms the buying experience for individuals seeking personalized health and financial wellness solutions.

National awards program seeking America's top youth volunteers of 2020

Tue, 03 Sep 2019 09:00:00 EST

Today through November 5, 2019, The Prudential Spirit of Community Awards is looking for the top youth volunteers of the year in each U.S. state and the District of Columbia. Students in grades 5-12 are invited to apply.

Prudential Financial announces leadership succession for U.S. Businesses

Thu, 29 Aug 2019 16:30:00 EST

NEWARK, N.J., August 29, 2019 - Prudential Financial, Inc. (NYSE:PRU) today announced that Andrew Sullivan will succeed Stephen Pelletier as executive vice president and head of U.S. Businesses, reporting to Chairman and CEO Charles Lowrey, effective December 1. Pelletier will retire following an extraordinary 27-year career with the company, in which he led Group Insurance and Prudential Annuities, and founded Prudential's international asset management businesses, now PGIM Global Partners.

Prudential realigns marketing organization to deepen engagement with customers at every life stage

Wed, 28 Aug 2019 16:00:00 EST

Prudential Financial, Inc. (NYSE: PRU) has launched a new operating model for its U.S. marketing organization that will enable the company to forge deeper connections with customers.

Prudential Retirement announces a new reinsurance counterparty, bringing its support to insurers that make up over 90% of UK pension risk transfer market

Fri, 02 Aug 2019 09:00:00 EST

NEWARK, N.J., August 02, 2019 - Prudential Retirement^®, a business unit of Prudential Financial, Inc. (NYSE: PRU), and The Phoenix Group, Europe's largest life and pensions consolidator and one of the fastest-growing providers of life and pension insurance in the United Kingdom, have entered into an inaugural longevity reinsurance agreement covering U.K. retirees.

Prudential Financial, Inc. Announces Second Quarter 2019 Results

Wed, 31 Jul 2019 16:18:00 EST

Prudential Financial, Inc. (NYSE: PRU) today reported second quarter results. Net income attributable to Prudential Financial, Inc. was $708 million ($1.71 per Common share) for the second quarter of 2019, compared to $197 million ($0.46 per Common share) for the second quarter of 2018. After-tax adjusted operating income was $1.307 billion ($3.14 per Common share) for the second quarter of 2019, compared to $1.298 billion ($3.01 per Common share) for the second quarter of 2018.

Gibraltar India Solutions, local arm of global insurance giant, opens technology center

Wed, 31 Jul 2019 00:00:00 EST

BENGALURU, India, July 31, 2019 — Gibraltar India Solutions, a Prudential Financial, Inc. (US) company (PFI), has announced the opening of its India Development Center on July 30 in Bengaluru, India.

Prudential Group Insurance announces leadership changes, underscores focus on Financial Wellness strategy

Mon, 29 Jul 2019 09:00:00 EST

NEWARK, N.J., July 29, 2019 - Leston Welsh has been promoted to head of Products for Prudential Group Insurance. Prudential Group Insurance is a unit of Prudential Financial, Inc. (NYSE:PRU).

Wayne County and Prudential Retirement continue 20-year partnership with $650M in assets

Mon, 22 Jul 2019 09:00:00 EST

NEWARK, N.J., July 22, 2019 - Prudential Retirement will continue its more than two-decade partnership with Wayne County, the most populous county in Michigan, as record keeper for its defined contribution retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

QMA names Linda Gibson as first chief business officer, continuing global expansion

Wed, 10 Jul 2019 05:00:00 EST

NEWARK, N.J., July 10, 2019 - QMA has named Linda Gibson to the newly created role of chief business officer, the latest step in the firm's continued global expansion. QMA is the quantitative equity and global multi-asset specialist of PGIM, the $1.2 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Capital Group adopts PGIM Private Capital as new global brand name

Tue, 09 Jul 2019 10:30:00 EST

CHICAGO, July 09, 2019 - Prudential Capital Group has renamed its global investment business as PGIM Private Capital. With over $86 billion in assets under management (as of March 31, 2019), the business is the private capital arm of PGIM, the $1.2 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Prudential Financial to Announce Second Quarter 2019 Earnings; Schedules Conference Call

Tue, 02 Jul 2019 07:18:00 EST

NEWARK, N.J., July 02, 2019 - Prudential Financial, Inc. (NYSE:PRU) will release its second quarter 2019 earnings on Wednesday, July 31, 2019, 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 sustainability report details financial resilience, responsible impact

Thu, 27 Jun 2019 09:00:00 EST

NEWARK, N.J., June 27, 2019 - Prudential Financial, Inc. (NYSE: PRU) released its 2018 sustainability report, detailing how the company supports its four building blocks of long-term vitality: financial sustainability, customer focus, investing in people and responsible impact.

PGIM Real Estate Global Outlook: Striking the right portfolio balance late in the cycle

Tue, 25 Jun 2019 09:00:00 EST

NEW YORK, June 25, 2019 - Elevated global real estate pricing continues to be supported by low interest rates and there are still reasons to be optimistic about the outlook for income growth, according to PGIM Real Estate's 2019 Global Outlook. PGIM Real Estate is the real estate investment business of PGIM, the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE:PRU).

Employee programs that combine lifestyle and financial wellness benefits may yield healthier, less-stressed workers, Prudential study finds

Fri, 21 Jun 2019 07:00:00 EST

Employers who provide traditional health and wellness offerings alongside financial wellness programs are likely to reap the benefits of a healthier workforce. Research unveiled by Prudential at the Aspen Ideas: Health festival suggests a connection between the use by employees of both benefit types and improved physical and mental health, based on self-reported outcomes.

International Union of Operating Engineers selects Prudential for retirement solutions

Thu, 20 Jun 2019 09:00:00 EST

NEWARK, N.J., June 20, 2019 – The International Union of Operating Engineers (IUOE) Local 132, a progressive trade union based in Huntington, West Virginia, representing heavy equipment operators and mechanics, as well as workers in building and industrial complexes and services throughout the United States and Canada, selected Prudential Retirement as its new retirement plan provider.

Legacy Lives On: One Solution and Prudential documentary highlights new pathways to financial freedom and financial wellness for black Americans

Wed, 19 Jun 2019 08:30:00 EST

One Solution, the leading branded content division of Urban One, and Prudential Financial, Inc., a leader in financial services, have partnered to create Legacy Lives On, a new 45-minute original documentary created to spark conversations about our relationships with money and the journey to financial wellness in the black community.

Prudential Financial, Inc. 2019 Financial Strength Symposium presentation materials and live webcast available

Wed, 12 Jun 2019 13:25:00 EST

NEWARK, N.J., June 12, 2019 - Presentation materials for the Prudential Financial, Inc. (NYSE: PRU) conference are now available at Prudential's Investor Relations website, investor.prudential.com. The conference begins on Wednesday, June 12, 2019 at 2:00 p.m. ET. The general public is invited to access a live webcast of the conference on the Investor Relations website. A replay of the conference will also be available on the Investor Relations website through June 26, 2019.

Springfield Clinic partners with Prudential to oversee $300 million in retirement assets

Wed, 12 Jun 2019 09:00:00 EST

Springfield Clinic, the second largest multispecialty clinic in Illinois, chose Prudential Retirement as record keeper for its defined contribution retirement plans.

PGIM names Cameron Lochhead global head of institutional relationships

Tue, 11 Jun 2019 09:35:00 EST

Cameron Lochhead has been named global head of PGIM's Institutional Relationship Group, dedicated to deepening strong relationships with institutional clients and continuing to grow PGIM's reputation for superior client service.

Prudential Financial, Inc. 2019 Investor Day presentation materials and live webcast available

Wed, 05 Jun 2019 13:05:00 EST

NEWARK, N.J., June 05, 2019 - Presentation materials for the Prudential Financial, Inc. (NYSE: PRU) conference for institutional investors and analysts are now available at Prudential's Investor Relations website, investor.prudential.com. The conference begins on Wednesday, June 5, 2019 at 1:00 p.m. ET.

Prudential Financial appoints Roger Putnam to lead U.S. customer service operations

Mon, 03 Jun 2019 12:00:00 EST

Roger Putnam has joined Prudential Financial, Inc. (NYSE: PRU) as chief operating officer of the company's Enabling Solutions organization.

Prudential Financial, Inc. to Hold 2019 Investor Day in Newark; Live Webcast to be Available

Thu, 30 May 2019 08:05:00 EST

Prudential Financial, Inc. (NYSE: PRU) will hold a conference for institutional investors and analysts on Wednesday, June 5, 2019.

Aker Solutions and Reser's Fine Foods select Prudential to oversee retirement assets

Wed, 29 May 2019 08:00:00 EST

NEWARK, N.J., May 29, 2019 - Aker Solutions, a global engineering company, and Reser's Fine Foods Inc., a national manufacturer and distributor of fresh and refrigerated prepared foods, chose Prudential Retirement as record keeper for their defined contribution retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

Prudential names Stacey Goodman chief information officer

Mon, 20 May 2019 09:00:00 EST

Prudential Financial, Inc. (NYSE: PRU) announced that Stacey Goodman will join the company as executive vice president and chief information officer, effective July 15. In this capacity, Goodman will lead a strategic, integrated enterprise-wide organization to deliver added value for customers, employees and shareholders through the optimal use of data, information, and digital and technology platforms.

Prudential Financial Declares Quarterly Dividend on Common Stock

Tue, 14 May 2019 16:18:00 EST

NEWARK, N.J., May 14, 2019 - Prudential Financial, Inc. (NYSE:PRU) announced today the declaration of a quarterly dividend of $1.00 per share of Common Stock, payable on June 20, 2019, to shareholders of record at the close of business on May 28, 2019.

Prudential Financial, Rutgers-Newark partner to cultivate Newark change makers

Tue, 07 May 2019 00:00:00 EST

NEWARK, N.J., May 7, 2019 – Rutgers University-Newark Chancellor Nancy Cantor announced today that Prudential Financial has committed $10 million to the Honors Living-Learning Community (HLLC) at Rutgers-Newark – the largest donation ever to Rutgers-Newark – to create the Prudential Scholars Program for Newark residents.

Prudential Financial, Inc. Announces First Quarter 2019 Results

Wed, 01 May 2019 16:18:00 EST

NEWARK, N.J., May 01, 2019 - Prudential Financial, Inc. (NYSE: PRU) today reported first quarter results. Net income attributable to Prudential Financial, Inc., was $932 million ($2.22 per Common share) for the first quarter of 2019, compared to $1.363 billion ($3.14 per Common share) for the first quarter of 2018.

Prudential Financial closes $2.6 billion in longevity reinsurance agreements, signaling pre-Brexit rush to de-risk by U.K. pensions

Wed, 24 Apr 2019 03:00:00 EST

NEWARK, N.J., April 24, 2019 - Prudential Retirement^®, a unit of Prudential Financial, Inc. (NYSE: PRU), has concluded about $2.6 billion in previously undisclosed longevity reinsurance contracts, an important signal of an unprecedented start to the 2019 U.K. pension risk transfer market.

Prudential Financial announces $180 million global investment to solve complex challenges facing opportunity youth, promoting financial wellness of the next generation

Tue, 23 Apr 2019 10:04:00 EST

Doubling down on its commitment to make lives better by solving the financial challenges of our changing world, Prudential Financial, Inc. (NYSE: PRU) is committing more than $180 million through 2025 to support young people aged 15-29 worldwide who lack access to school, training or regular jobs – a segment of the global population often referred to as opportunity youth. This is the largest financial private-sector investment in this group.

Prudential expands financial wellness capabilities to address Americans' most pressing financial needs

Thu, 11 Apr 2019 09:00:00 EST

NEWARK, N.J., April 11, 2019 - Prudential Financial, Inc. announced the introduction of a range of new financial wellness solutions to help address the most pressing financial challenges facing American consumers.

We're average students, getting a "C" when it comes to understanding finances, Americans say

Wed, 10 Apr 2019 09:30:00 EST

NEWARK, N.J., April 10, 2019 - More than half of Americans say they'd earn a "C" or lower when it comes to financial literacy, according to a new survey conducted by Harris Poll on behalf of Prudential Financial, Inc. (NYSE: PRU).

Prudential Group Insurance promotes Jessica Gillespie to head of distribution; hires Tim Weber to lead voluntary benefits distribution

Tue, 09 Apr 2019 11:00:00 EST

NEWARK, N.J., April 09, 2019 - Jessica Gillespie has been promoted to head of distribution for Prudential Group Insurance and Tim Weber has joined as vice president, voluntary benefits distribution and workplace markets, underscoring the group benefits carrier's commitment to growing its core businesses and talent pipeline. Prudential Group Insurance is a unit of Prudential Financial, Inc. (NYSE: PRU).

Prudential Financial to Announce First Quarter 2019 Earnings; Schedules Conference Call

Thu, 04 Apr 2019 07:30:00 EST

Prudential Financial, Inc. (NYSE:PRU) will release its first quarter 2019 earnings on Wednesday, May 1, 2019, 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 Real Estate sells Westend Yards in Munich, completing its Triple Portfolio sale

Tue, 02 Apr 2019 00:00:00 EST

MUNICH, April 2, 2019 – PGIM Real Estate has completed the sale of Westend Yards at Hansastrasse 24-36, a 32,000-square-meter office property in Munich, on behalf of its European value-add strategy.

Westchester County taps Prudential to manage $607 million in retirement assets

Wed, 20 Mar 2019 09:00:00 EST

NEWARK, N.J, March 20, 2019 - Westchester County selected Prudential Retirement as record keeper for its deferred compensation retirement plan. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

Jennison Associates fixed income team hires portfolio manager Dmitri Rabin

Mon, 11 Mar 2019 11:16:00 EST

NEW YORK, March 11, 2019 - Dmitri Rabin will join the fixed income team of Jennison Associates as a managing director and portfolio manager, effective March 12, 2019. Rabin brings 18 years of investment experience to the role, specializing in mortgages and structured finance. Jennison is an affiliate manager of PGIM, Inc., the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).

Jennison Associates hires Peter Latara as managing director

Mon, 04 Mar 2019 08:30:00 EST

Peter W. Latara has joined Jennison Associates as a managing director and relationship manager, effective Feb. 25, 2019. The role will include a focus on both sales as well as client service. Latara will report to Lori McEvoy, Jennison's global head of distribution.

Prudential Financial, Inc. to Participate in 2019 RBC Financial Institutions Conference; Live Audio Webcast Available

Thu, 28 Feb 2019 16:18:00 EST

Prudential Financial, Inc. (NYSE:PRU) will participate in the RBC Capital Markets Financial Institutions Conference in New York, NY on Wednesday, March 13, 2019. On that day at approximately 9:20 a.m. (ET) Robert M. Falzon, Prudential Financial, Inc.'s Vice Chairman, will participate in an analyst-led fireside chat with investors.

Prudential Financial recognized as one of the World's Most Ethical Companies by the Ethisphere Institute for fifth consecutive year

Tue, 26 Feb 2019 09:16:00 EST

Prudential Financial, Inc. (NYSE: PRU) has been named a 2019 World's Most Ethical Company by the Ethisphere® Institute.

After-tax emergency savings in retirement plans can help workers build a safety net

Mon, 25 Feb 2019 08:00:00 EST

As America Saves Week kicks off Feb. 25, Prudential is calling on employers to consider adding an after-tax emergency savings feature to their 401(k) plans to help workers save for unexpected expenses.

PGIM Real Estate completes $12 billion in 2018 transactions worldwide

Mon, 25 Feb 2019 03:00:00 EST

PGIM Real Estate completed approximately $12 billion in transactions worldwide in 2018 on behalf of institutional and high net worth investors, including investments in real estate equity and debt, and property dispositions.

Prudential Capital Group appoints Debra Hemsey to Prudential Capital Energy Partners

Wed, 20 Feb 2019 10:00:00 EST

Prudential Capital Group has appointed Debra Hemsey as managing director of Prudential Capital Energy Partners (PCEP), the middle-market energy mezzanine fund business sponsored by Prudential Capital Group. The appointment comes on the heels of the recently announced closing of Prudential Capital Energy Partners I, L.P., a $343 million energy mezzanine fund. Prudential Capital Group is a leading source of private capital for public and private companies and is the private capital arm of PGIM, the $1 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

PGIM Real Estate Finance provides $18.1 billion in financing in 2018

Mon, 11 Feb 2019 11:00:00 EST

PGIM Real Estate Finance originated a record $18.1 billion in financing in 2018 led by record production in multifamily and core-plus lending.

Prudential Financial, Inc. Announces 2018 Results

Wed, 06 Feb 2019 16:18:00 EST

NEWARK, N.J., February 06, 2019 - Prudential Financial, Inc. (NYSE:PRU) today reported year-end and fourth quarter 2018 results. Net income attributable to Prudential Financial, Inc., was $4.074 billion ($9.50 per Common share) for the year ended December 31, 2018, compared to $7.863 billion ($17.86 per Common share) for the year ended December 31, 2017. After-tax adjusted operating income was $5.019 billion ($11.69 per Common share) for 2018, compared to $4.652 billion ($10.58 per Common share) for 2017.

Prudential names Jon Cressman head of IBD and bank and wire distribution

Wed, 30 Jan 2019 09:00:00 EST

NEWARK, N.J., January 30, 2019 - Prudential Financial, Inc. (NYSE: PRU) is consolidating its annuities sales and distribution leadership of banks, wirehouses and independent broker-dealers under one unit to increase efficiency across sales channels.

Lockheed Martin transfers $1.8 billion in pension obligations to Prudential Retirement

Tue, 29 Jan 2019 12:00:00 EST

NEWARK, N.J., January 29, 2019 - Lockheed Martin Corporation (NYSE: LMT) has transferred approximately $1.8 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE: PRU). Approximately 32,000 of Lockheed Martin's retirees will receive their monthly pension benefit payments from Prudential as part of this buy-out agreement.

Prudential Capital Group provides $12.53 billion in private debt to middle-market companies in 2018

Wed, 23 Jan 2019 10:14:00 EST

CHICAGO, January 23, 2019 - Prudential Capital Group provided $12.53 billion of senior debt and junior capital to over 200 middle-market companies and projects globally in 2018. Prudential Capital Group is a leading source of private capital for public and private companies and is the private capital arm of PGIM, the $1 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Prudential chosen as public sector retirement plan provider for City of Santa Ana and Ohio Association of Professional Fire Fighters

Mon, 14 Jan 2019 09:00:00 EST

NEWARK, N.J., January 14, 2019 - The City of Santa Ana (California) and the Ohio Association of Professional Fire Fighters have both selected Prudential Retirement as recordkeeper for their public sector retirement plans, reflecting the demand for customized financial wellness solutions among public employees. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

Prudential Financial to Announce Fourth Quarter 2018 Earnings; Schedules Conference Call

Fri, 04 Jan 2019 07:30:00 EST

NEWARK, N.J., January 04, 2019 - Prudential Financial, Inc. (NYSE:PRU) will release its fourth quarter 2018 earnings on Wednesday, February 6, 2019, 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.