PRUDENTIAL FINANCIAL INC
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
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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.
Jun 30, 2026 · Filed Aug 5, 2026
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Divested and Run-off Businesses
Divested and Run-off Businesses Included in Corporate and Other
Income from our Divested and Run-off Businesses includes results from several businesses that have been or will be sold or exited, including businesses that have been placed in wind down status that do not qualify for “discontinued operations” accounting treatment under U.S. GAAP. The results of these Divested and Run-off Businesses are reflected in our Corporate and Other operations but are excluded from adjusted operating income. A summary of the results of the Divested and Run-off Businesses reflected in our Corporate and Other operations is as follows for the periods indicated:
| Three Months EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| (in millions) | ||||
| Long-Term Care | $65 | $83 | $48 | $46 |
| Other(1) | 70 | (71) | 151 | (85) |
| Total Divested and Run-off Businesses income (loss) excluded from adjusted operating income | $135 | $12 | $199 | $(39) |
(1)Effective first quarter of 2026, the results of PGIM India are excluded from PGIM’s adjusted operating results and are included herein.
Long-Term Care
Results decreased $18 million, including an unfavorable comparative net impact from our annual reviews and update of assumptions and other refinements. Results for 2026 and 2025 included netcharges from this update of $120 million and $7 million, respectively.
Excluding this item, results increased $95 million, primarily reflecting:
the favorable impact from changes in the market value of both equity securities and derivatives.
lower underwriting results, primarily driven by unfavorable mortality experience.
Results increased $2 million, including an unfavorable comparative net impact from our annual reviews and update of assumptions and other refinements, as discussed above.
Excluding this item, results increased $115 million, primarily reflecting the same factors as the three month comparison, as discussed above.
Other Divested and Run-off Businesses
Results increased $141 million, primarily reflecting:
higher results related to Assurance IQ, which included impacts from the continued wind-down of the business in the prior year period; and
favorable results related to the Full Service Retirement business, primarily reflecting accelerated deferred gain amortization resulting from policy novations.
Results increased $236 million, primarily reflecting the same factors as the three month comparison, as discussed above.
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