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New York
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Company Description

Contact Info

751 Broad Street

Newark, NJ 07102

United States

Phone: 973-802-6000


Prudential Financial, Inc. operates as a financial services leader in the United States, Asia, Europe, and Latin America. The company, through its subsidiaries and affiliates, offers a range of financial products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. The company offers these products and services to individual and institutional customers through proprietary and third-party distribution networks. Businesses The company’s principal operations include four divisions, which together include seven segments. U.S. Retirement Solutions and Investment Management division The U.S. Retirement Solutions and Investment Management division conducts its business through the Individual Annuities, Retirement and Asset Management segments. Individual Annuities segment The company’s Individual Annuities segment manufactures and distributes individual variable and fixed annuity products, primarily to the U.S. mass affluent market. Products The company offers certain variable annuities that provide its contractholders with tax-deferred asset accumulation together with a base death benefit and a suite of optional guaranteed living benefits (including versions with enhanced guaranteed minimum death benefits), and annuitization options. The majority of the company’s sold contracts include an optional living benefit guarantee, which provides, among other features, the ability to make withdrawals based on the highest daily contract value plus a specified return, credited for a period of time. Certain optional living benefits could also be purchased with a companion optional death benefit, also based on a highest daily contract value. The Prudential Premier Retirement Variable Annuity with Highest Daily Lifetime Income (HDI) v.3.0 offers lifetime income based on the highest daily account value plus a compounded deferral credit. Effective April 2015, the company entered into an agreement with Union Hamilton Reinsurance, Ltd. (Union Hamilton), an external counterparty, to reinsure approximately 50% of the HDI v.3.0 business. The Prudential Defined Income (PDI) Variable Annuity complements the variable annuity products that the company offers with the highest daily benefit. PDI provides for guaranteed lifetime withdrawal payments, but restricts contractholder investment to a single bond sub-account within the separate account. PDI includes a living benefit rider, which provides for a specified lifetime income withdrawal rate applied to the initial premium paid, subject to annual roll-up increases until lifetime withdrawals commence, but does not have the highest daily feature. The company also offers immediate annuities and variable annuities without guaranteed living benefits. The company offers the Prudential Immediate Income Annuity, which is a fixed single premium immediate annuity that provides fixed payments over a specific time period and the Prudential Premier Investment Variable Annuity, which offers tax-deferred asset accumulation, annuitization options and an optional death benefit that guarantees the contractholder’s beneficiary a return of total purchase payments made to the contract, adjusted for any partial withdrawals, upon death. Excluding the company’s PDI product, the majority of its variable annuities generally provide its contractholders with the opportunity to allocate purchase payments to sub-accounts that invest in underlying proprietary and/or non-proprietary mutual funds, frequently under asset allocation programs. Certain products also allow or require allocation to fixed-rate accounts that are invested in the general account and are credited with interest at rates that the company determines, subject to certain minimums. The company also offers fixed annuities that provide a guarantee of principal and interest credited at rates that the company determines, subject to certain contractual minimums. Certain allocations made in the fixed-rate accounts of its variable annuities and certain fixed annuities impose a market value adjustment if the invested amount is not held to maturity. In addition, most cont


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Valuation PLL Industry Range
Price/Earnings 8.6x
Price/Sales 0.6x
Price/Book 0.7x
Price/Cash Flow 8.1x
TEV/Sales NM Not Meaningful

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