PRUDENTIAL FINANCIAL INC
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 12, 2026
PRU$119.24-2.6%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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GLOSSARY
Throughout this Annual Report on Form 10-K, the Company may use certain abbreviations, acronyms and terms which are defined below.
| Prudential Entities | |||
|---|---|---|---|
| Assurance IQ | Assurance IQ, LLC / AIQ | PLNJ | Pruco Life Insurance Company of New Jersey |
| Company | Prudential Financial, Inc. and its subsidiaries | POB | Prudential of Brazil |
| Gibraltar Life | The Gibraltar Life Insurance Company, Ltd. | Pruco Life | Pruco Life Insurance Company |
| Gibraltar Re | Gibraltar Reinsurance Company Ltd. | Prudential | Prudential Financial, Inc. and its subsidiaries |
| PFI | Prudential Financial, Inc. and its subsidiaries | Prudential Financial | Prudential Financial, Inc. |
| PGIM | The global investment management business of Prudential Financial, Inc. | Prudential Funding | Prudential Funding, LLC |
| PGFL | The Prudential Gibraltar Financial Life Insurance Co., Ltd. | Prudential Insurance/PICA | The Prudential Insurance Company of America |
| PHJ | Prudential Holdings of Japan, Inc. | Prudential of Japan | The Prudential Life Insurance Company Ltd. |
| PLIC | Prudential Legacy Insurance Company of New Jersey | Registrant | Prudential Financial, Inc. |
| Defined Terms | |||
|---|---|---|---|
| A.M. Best | A.M. Best Company | Moody's | Moody's Investor Service, Inc. |
| AFS Debt Securities | Fixed maturities, available-for-sale, at fair value | Morningstar | Morningstar, Inc. |
| Allstate | The Allstate Corporation | NCTI | Net Controlled Foreign Corporation Tested Income |
| 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 |
| CIO Organization | Chief Investment Officer Organization | Prismic | Prismic Life Holding Company LP |
| 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 Re | Prismic Life Reinsurance, Ltd. |
| 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 International | Prismic Life Reinsurance International, Ltd. |
| Dodd-Frank | Dodd-Frank Wall Street Reform and Consumer Protection Act | Regulation XXX | Valuation of Life Insurance Policies Model Regulation |
| Empower | Great-West and Great-West Life & Annuity Insurance Company of New York, now known as Empower Annuity InsuranceCompany of America and Empower Life & Annuity Insurance Company of New York, respectively | S&P | Standard & Poor's Rating Services |
| Exchange Act | The Securities Exchange Act of 1934 | SECURE Act | Setting Every Community Up for Retirement Enhancement (‘SECURE”) Act, together with SECURE 2.0, collectively |
| 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, AIGFinancial Assurance Japan K.K. and AIG Edison Service Co., Ltd., collectively |
| Funds Withheld | Assets the Company retains the legal ownership of under certain reinsurance arrangements | Talcott Resolution | Talcott Resolution Life Insurance Company |
| GDPR | The European Union’s General Data Protection Regulation | Tax Act of 2017 | The United States Tax Cuts and Jobs Act of 2017 |
| Great-West | Great-West Life & Annuity Insurance Company | Tax Act of 2025 | H.R.1, also referred to as the “One Big Beautiful Bill Act” |
| Guideline AXXX | The Application of the Valuation of Life Insurance Policies Model Regulation | The Colorado AI Law | Senate Bill 24-205 passed in Colorado, which regulates certain AI systems, and imposes obligations on AI system deployers and developers doing business in Colorado |
| Guideline AXXX | The Application of the Valuation of Life Insurance Policies Model Regulation | U.S. GAAP | Accounting principles generally accepted in the United States of America |
| Hartford Financial | Hartford Financial Services Group, Inc. | UCL | California’s Unfair Competition law |
| Hartford Life Business | The Hartford Financial Services Group's individual life insurance business acquired by Prudential Financial | Wilton Re | Wilton Reassurance Company and Wilton Reinsurance Bermuda Limited, collectively |
| Acronyms | |||
|---|---|---|---|
| ACL | Allowance for Credit Losses | GMDB | Guaranteed Minimum Death Benefits |
| AI | Artificial Intelligence | GMIB | Guaranteed Minimum Income Benefits |
| AIR | Additional Insurance Reserves | GMIWB | Guaranteed Minimum Income and Withdrawal Benefits |
| ALM | Asset Liability Management | GMWB | Guaranteed Minimum Withdrawal Benefits |
| AOCI | Accumulated Other Comprehensive Income (Loss) | GSEs | Government Sponsored Entities |
| ASC | Accounting Standards Codification | HDI | Highest Daily Lifetime Income |
| ASU | Accounting Standards Update | HGTO | Head of Global Technology and Operations |
| AUD | Australian Dollar | IAIG | Internationally Active Insurance Groups |
| BEAT | Base Erosion and Anti-Abuse Tax | IAIS | International Association of Insurance Supervisors |
| BMA | Bermuda Monetary Authority | IRA | Individual Retirement Account |
| bps | Basis Points | IRS | Internal Revenue Service |
| CAMT | Corporate Alternative Minimum Tax | LIBOR | London Inter-Bank Offered Rate |
| CECL | Current Expected Credit Loss | LPs/LLCs | Limited Partnerships and Limited Liability Companies |
| CFC | Capital and Finance Committee | MD&A | Management's Discussion and Analysis of Financial Condition and Results of Operations |
| CFTC | Commodity Futures Trading Commission | MRBs | Market Risk Benefits |
| CISO | Chief Information Security Officer | NAIC | National Association of Insurance Commissioners |
| CLO | Collateralized Loan Obligation | NAV | Net Asset Value |
| CODM | Chief Operating Decision Maker | NCTI | Net Controlled Foreign Corporation Tested Income |
| COSO | Committee of Sponsoring Organizations of the Treadway Commission | NFA | National Futures Association |
| CSA | Credit Support Annex | NJDOBI | New Jersey Department of Banking and Insurance |
| DAC | Deferred Policy Acquisition Costs | NPR | Non-Performance Risk |
| DOL | U.S. Department of Labor | NTG | Net-To-Gross |
| DPL | Deferred Profit Liability | OCI | Other Comprehensive Income (Loss) |
| DRD | Dividend Received Deduction | OECD | Organization of Economic Cooperation and Development |
| DRG | Deferred Reinsurance Gains | ORSA | Own Risk and Solvency Assessment |
| DRL | Deferred Reinsurance Losses | OTC | Over-The-Counter |
| DSI | Deferred Sales Inducements | OTTI | Other-Than-Temporary Impairments |
| E.U. | The European Union | PALAC | Prudential Annuities Life Assurance Corporation |
| EBITDA | Earnings Before Interest, Taxes, Depreciation and Amortization | PCAOB | Public Company Accounting Oversight Board |
| ERC | Executive Risk Committee | PDI | Prudential Defined IncomeSM |
| ERISA | Employee Retirement Income Security Act | PGIMW | PGIM Wadhwani LLP |
| ERMC | Enterprise Risk Management Council | POA | Prudential of Argentina |
| ESG | Environmental, Social and Governance | POT | The Prudential Life Insurance Company of Taiwan Inc. |
| ESR | Economic Solvency Ratio | QPAMs | Qualified Professional Asset Managers |
| ETFs | Exchange-traded Funds | RAF | Risk Appetite Framework |
| FACP | Funding Agreement-Backed Commercial Paper | RBC | Risk-Based Capital |
| FABN | Funding Agreement-Backed Notes | SEC | Securities and Exchange Commission |
| FASB | Financial Accounting Standards Board | SOFR | Secured Overnight Funding Rate |
| FHLBNY | Federal Home Loan Bank of New York | SVO | Securities Valuation Office |
| FINRA | Financial Industry Regulatory Authority | TBA | To Be Announced |
| FLIAC | Fortitude Life Insurance and Annuity Company | U.K. | The United Kingdom |
| FSA | Japanese Financial Services Agency | U.S. | The United States of America |
| FSB | Financial Stability Board | UCITS | Undertakings for the Collective Investment in Transferable Securities |
| G20 | Group of Twenty nations | URR | Unearned Revenue Reserve |
| Generative AI | Generative Artificial Intelligence | USD | United States Dollar |
| GICs | Guaranteed Investment Contracts | VIEs | Variable Interest Entities |
| GILTI | Global Intangible Low-Taxed Income | VM-21 | Valuation Manual, Section 21 |
| GMAB | Guaranteed Minimum Accumulation Benefits | VOBA | Value of Business Acquired |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.