PRUDENTIAL FINANCIAL INC
For the period ended Mar 31, 2025. Filed May 1, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 1, 2025
PRU$119.24-2.6%Stored close · as of Nov 6, 2026
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GLOSSARY
Throughout this Quarterly Report on Form 10-Q, the Company may use certain abbreviations, acronyms and terms which are defined below.
| Prudential Entities | |||
|---|---|---|---|
| Company | Prudential Financial, Inc. and its subsidiaries | PLNJ | Pruco Life Insurance Company of New Jersey |
| Gibraltar Life | The Gibraltar Life Insurance Co., Ltd. | Pruco Life | Pruco Life Insurance Company |
| PFI | Prudential Financial, Inc. and its subsidiaries | Prudential | Prudential Financial, Inc. and its subsidiaries |
| PGFL | Prudential Gibraltar Financial Life Insurance Co., Ltd. | Prudential Financial | Prudential Financial, Inc. |
| PGIM | The global investment management business of Prudential Financial, Inc. | Prudential Funding | Prudential Funding, LLC |
| PGIMW | PGIM Wadhwani LLP | Prudential Insurance/PICA | The Prudential Insurance Company of America |
| PIIH | Prudential International Insurance Holdings, Ltd. | Prudential of Japan | The Prudential Life Insurance Company, Ltd. |
| PLIC | Prudential Legacy Insurance Company of New Jersey | Registrant | Prudential Financial, Inc. |
| Defined Terms | |||
|---|---|---|---|
| Allstate | The Allstate Corporation | Morningstar | Morningstar, Inc. |
| AuguStar | AuguStar Life Insurance Company, formerly known as The Ohio National Life Insurance Company | Other Postretirement Benefits | Certain health care and life insurance benefits provided by the Company for its retired employees, their beneficiaries and covered dependents |
| Board | Prudential Financial's Board of Directors | Pension Benefits | Funded and non-funded non-contributory defined benefit pension plans which cover substantially all of the Company’s employees |
| Closed Block | Certain in-force participating insurance policies and annuity products, along with corresponding assets used for the payment of benefits and policyholders' dividends on these products | Prismic | Prismic Life Holding Company LP |
| Credit-Linked Note Structures | Agreements with external counterparties providing for the issuance of surplus notes by our captive reinsurers in return for the receipt of credit-linked notes | Prismic Re | Prismic Life Reinsurance, Ltd. |
| Empower Annuity Insurance Company of America | Formerly known as Great-West | Prismic Re International | Prismic Life Reinsurance International, Ltd. |
| Empower Life & Annuity Insurance Company ofNew York | Formerly known as Great-West Life & Annuity Insurance Company of NewYork | Regulation XXX | Valuation of Life Insurance Policies Model Regulation |
| Exchange Act | The Securities Exchange Act of 1934 | S&P | Standard & Poor's Rating Services |
| Farmer Mac | Federal Agricultural Mortgage Corporation | Somerset Re | Somerset Reinsurance Ltd. |
| Fitch | Fitch Ratings Inc. | Star and Edison Businesses | AIG Star Life Insurance Co., Ltd, AIG Edison Life Insurance Company, AIG Financial Assurance Japan K.K. and AIG Edison Service Co., Ltd. (former subsidiaries of American International Group, Inc., or AIG), collectively |
| Funds Withheld | Assets the Company retains the legal ownership of under certain reinsurance arrangements | Talcott Resolution | Talcott Resolution Life Insurance Company |
| Guideline AXXX | The Application of the Valuation of Life Insurance Policies Model Regulation | U.S. GAAP | Generally accepted accounting principles in the United States of America |
| Hartford Financial | Hartford Financial Services Group, Inc. | Union Hamilton | Union Hamilton Reinsurance, Ltd. |
| Moody's | Moody's Investors Service, Inc. | Wilton Re | Wilton Reassurance Company and Wilton Reinsurance Bermuda Limited |
| Acronyms | |||
|---|---|---|---|
| ACL | Allowance for Credit Losses | MD&A | Management's Discussion and Analysis of Financial Condition and Results of Operations |
| AIR | Additional Insurance Reserves | MRBs | Market Risk Benefits |
| ALM | Asset Liability Management | NAIC | National Association of Insurance Commissioners |
| AOCI | Accumulated Other Comprehensive Income (Loss) | NAV | Net Asset Value |
| ASC | Accounting Standards Codification | NJDOBI | New Jersey Department of Banking and Insurance |
| ASU | Accounting Standards Update | NPR | Non-Performance Risk |
| AUD | Australian Dollar | OCI | Other Comprehensive Income (Loss) |
| bps | Basis Points | OTC | Over-The-Counter |
| CECL | Current Expected Credit Loss | OTTI | Other-Than-Temporary Impairments |
| CLO | Collateralized Loan Obligations | PALAC | Prudential Annuities Life Assurance Corporation |
| CODM | Chief Operating Decision Maker | PDI | Prudential Defined Income |
| DAC | Deferred Policy Acquisition Costs | PHJ | Prudential Holdings of Japan, Inc. |
| DOL | U.S. Department of Labor | POA | Prudential of Argentina |
| DPL | Deferred Profit Liability | POT | The Prudential Life Insurance Company of Taiwan Inc. |
| DSI | Deferred Sales Inducements | PRIAC | Prudential Retirement Insurance and Annuity Company |
| EBITDA | Earnings Before Interest, Taxes, Depreciation and Amortization | PTE | Prohibited Transaction Class Exemptions |
| ESR | Economic Solvency Ratio | RAF | Risk Appetite Framework |
| FANIP | Funding Agreement Notes Issuance Program | RBC | Risk-Based Capital |
| FASB | Financial Accounting Standards Board | SEC | Securities and Exchange Commission |
| FHLBNY | Federal Home Loan Bank of New York | SOFR | Secured Overnight Financing Rate |
| FLIAC | Fortitude Life Insurance and Annuity Company | SVO | Securities Valuation Office |
| FSA | Financial Services Agency (an agency of the Japanese government) | TBA | To-Be-Announced |
| GICs | Guaranteed Investment Contracts | TDR | Troubled Debt Restructuring |
| GILTI | Global Intangible Low-Taxed Income | U.S. | The United States of America |
| GMDB | Guaranteed Minimum Death Benefits | URR | Unearned Revenue Reserve |
| GMIB | Guaranteed Minimum Income Benefits | USD | U.S. Dollar |
| HDI | Highest Daily Lifetime Income | VIEs | Variable Interest Entities |
| LPs/LLCs | Limited Partnerships and Limited Liability Companies | VOBA | Value of Business Acquired |
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