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Prudential Financial ( (PRU) ) has shared an update.
On January 22, 2025, Prudential Financial announced an agreement to reinsure a $7 billion block of Japanese whole life insurance products with Prismic Life Reinsurance International. This transaction is expected to modestly increase Prudential’s after-tax annual adjusted operating income and boost Prismic’s assets under management to $17 billion, enhancing its earnings and risk diversification. The deal is subject to regulatory approvals and closing conditions, with Prudential maintaining a 20% equity interest in Prismic HoldCo.
More about Prudential Financial
Prudential Financial, Inc. is a global financial services leader and active global investment manager with approximately $1.6 trillion in assets under management as of September 30, 2024. The company operates in the United States, Asia, Europe, and Latin America, focusing on expanding access to investing, insurance, and retirement security. Its iconic Rock symbol represents strength, stability, expertise, and innovation.
YTD Price Performance: 1.69%
Average Trading Volume: 1,498,062
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $42.82B
For an in-depth examination of PRU stock, go to TipRanks’ Stock Analysis page.
