Form: 10-K

Annual report [Section 13 and 15(d), not S-K Item 405]

Documents

false2024FY0001137774http://fasb.org/us-gaap/2024#GeneralAndAdministrativeExpensehttp://fasb.org/us-gaap/2024#RealizedInvestmentGainsLosseshttp://fasb.org/us-gaap/2024#MarketRiskBenefitChangeInFairValueGainLosshttp://fasb.org/us-gaap/2024#NetInvestmentIncomehttp://fasb.org/us-gaap/2024#OtherIncomehttp://fasb.org/us-gaap/2024#GeneralAndAdministrativeExpensehttp://fasb.org/us-gaap/2024#InterestCreditedToPolicyholdersAccountBalanceshttp://fasb.org/us-gaap/2024#PolicyholderBenefitsAndClaimsIncurredNethttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossNetOfTaxhttp://fasb.org/us-gaap/2024#RealizedInvestmentGainsLosseshttp://fasb.org/us-gaap/2024#MarketRiskBenefitChangeInFairValueGainLosshttp://fasb.org/us-gaap/2024#NetInvestmentIncomehttp://fasb.org/us-gaap/2024#OtherIncomehttp://fasb.org/us-gaap/2024#GeneralAndAdministrativeExpensehttp://fasb.org/us-gaap/2024#InterestCreditedToPolicyholdersAccountBalanceshttp://fasb.org/us-gaap/2024#PolicyholderBenefitsAndClaimsIncurredNethttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossNetOfTaxhttp://fasb.org/us-gaap/2024#RealizedInvestmentGainsLosseshttp://fasb.org/us-gaap/2024#MarketRiskBenefitChangeInFairValueGainLosshttp://fasb.org/us-gaap/2024#NetInvestmentIncomehttp://fasb.org/us-gaap/2024#OtherIncomehttp://fasb.org/us-gaap/2024#GeneralAndAdministrativeExpensehttp://fasb.org/us-gaap/2024#InterestCreditedToPolicyholdersAccountBalanceshttp://fasb.org/us-gaap/2024#PolicyholderBenefitsAndClaimsIncurredNethttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTaxhttp://fasb.org/us-gaap/2024#OtherInvestmentshttp://fasb.org/us-gaap/2024#OtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherInvestmentshttp://fasb.org/us-gaap/2024#OtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherLiabilitieshttp://fasb.org/us-gaap/2024#GeneralAndAdministrativeExpensehttp://fasb.org/us-gaap/2024#GeneralAndAdministrativeExpensehttp://fasb.org/us-gaap/2024#GeneralAndAdministrativeExpensehttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax0.330.330.330.330.330.33iso4217:USDxbrli:sharesiso4217:USDxbrli:sharesutr:Ratexbrli:purepru:subsidiarypru:policypru:counterpartypru:companyiso4217:JPYpru:lenderpru:debtInstrumentpru:employeepru:planpru:defendantpru:courtOrder00011377742024-01-012024-12-310001137774us-gaap:CommonClassAMember2024-01-012024-12-310001137774pru:A5950JuniorSubordinatedNotesMember2024-01-012024-12-310001137774pru:A5.625JuniorSubordinatedNotesMember2024-01-012024-12-310001137774pru:A4125JuniorSubordinatedNoteMember2024-01-012024-12-3100011377742024-06-3000011377742025-01-3100011377742024-12-3100011377742023-12-310001137774pru:FairValueOptionElectionMember2024-12-310001137774pru:FairValueOptionElectionMember2023-12-310001137774pru:LeveragedleaseloansMember2024-12-310001137774pru:LeveragedleaseloansMember2023-12-310001137774us-gaap:AccountingStandardsUpdate201613Member2024-12-310001137774us-gaap:AccountingStandardsUpdate201613Member2023-12-3100011377742023-01-012023-12-3100011377742022-01-012022-12-310001137774us-gaap:CommonStockMember2021-12-310001137774us-gaap:AdditionalPaidInCapitalMember2021-12-310001137774us-gaap:RetainedEarningsMember2021-12-310001137774us-gaap:TreasuryStockCommonMemberus-gaap:CommonStockMember2021-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001137774us-gaap:ParentMember2021-12-310001137774us-gaap:NoncontrollingInterestMember2021-12-3100011377742021-12-310001137774us-gaap:TreasuryStockCommonMemberus-gaap:CommonStockMember2022-01-012022-12-310001137774us-gaap:ParentMember2022-01-012022-12-310001137774us-gaap:NoncontrollingInterestMember2022-01-012022-12-310001137774us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-310001137774us-gaap:RetainedEarningsMember2022-01-012022-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:CommonStockMember2022-12-310001137774us-gaap:AdditionalPaidInCapitalMember2022-12-310001137774us-gaap:RetainedEarningsMember2022-12-310001137774us-gaap:TreasuryStockCommonMemberus-gaap:CommonStockMember2022-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001137774us-gaap:ParentMember2022-12-310001137774us-gaap:NoncontrollingInterestMember2022-12-3100011377742022-12-310001137774us-gaap:TreasuryStockCommonMemberus-gaap:CommonStockMember2023-01-012023-12-310001137774us-gaap:ParentMember2023-01-012023-12-310001137774us-gaap:NoncontrollingInterestMember2023-01-012023-12-310001137774us-gaap:AdditionalPaidInCapitalMember2023-01-012023-12-310001137774us-gaap:RetainedEarningsMember2023-01-012023-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:CommonStockMember2023-12-310001137774us-gaap:AdditionalPaidInCapitalMember2023-12-310001137774us-gaap:RetainedEarningsMember2023-12-310001137774us-gaap:TreasuryStockCommonMemberus-gaap:CommonStockMember2023-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001137774us-gaap:ParentMember2023-12-310001137774us-gaap:NoncontrollingInterestMember2023-12-310001137774us-gaap:TreasuryStockCommonMemberus-gaap:CommonStockMember2024-01-012024-12-310001137774us-gaap:ParentMember2024-01-012024-12-310001137774us-gaap:NoncontrollingInterestMember2024-01-012024-12-310001137774us-gaap:AdditionalPaidInCapitalMember2024-01-012024-12-310001137774us-gaap:RetainedEarningsMember2024-01-012024-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:CommonStockMember2024-12-310001137774us-gaap:AdditionalPaidInCapitalMember2024-12-310001137774us-gaap:RetainedEarningsMember2024-12-310001137774us-gaap:TreasuryStockCommonMemberus-gaap:CommonStockMember2024-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310001137774us-gaap:ParentMember2024-12-310001137774us-gaap:NoncontrollingInterestMember2024-12-310001137774pru:PensionRiskTransferMember2024-01-012024-12-310001137774pru:PensionRiskTransferMember2023-01-012023-12-310001137774pru:PensionRiskTransferMember2022-01-012022-12-310001137774pru:PrismicLifeReinsuranceLtdMember2024-01-012024-12-310001137774pru:PrismicLifeReinsuranceLtdMember2023-01-012023-12-310001137774pru:PrismicLifeReinsuranceLtdMember2022-01-012022-12-310001137774pru:SomersetReMember2024-01-012024-12-310001137774pru:SomersetReMember2023-01-012023-12-310001137774pru:SomersetReMember2022-01-012022-12-310001137774pru:WiltonReMember2024-01-012024-12-310001137774pru:WiltonReMember2023-01-012023-12-310001137774pru:WiltonReMember2022-01-012022-12-310001137774us-gaap:DiscontinuedOperationsHeldforsaleMemberpru:IndividualAnnuitiesPALACMember2022-01-012022-12-310001137774pru:PrismicHoldCoMember2023-09-300001137774srt:RestatementAdjustmentMemberpru:RetirementStrategiesMemberpru:IndividualRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMember2024-01-012024-09-300001137774srt:RestatementAdjustmentMemberpru:RetirementStrategiesMemberpru:IndividualRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMember2023-01-012023-12-310001137774srt:RestatementAdjustmentMember2023-12-310001137774srt:RestatementAdjustmentMember2022-12-310001137774srt:RestatementAdjustmentMember2021-12-310001137774pru:IndividualAnnuitiesPALACMemberus-gaap:DiscontinuedOperationsHeldforsaleMemberus-gaap:VariableAnnuityMember2022-12-310001137774us-gaap:DiscontinuedOperationsHeldforsaleMemberpru:IndividualAnnuitiesPALACMember2022-04-010001137774us-gaap:DiscontinuedOperationsHeldforsaleMemberpru:RetirementFullServiceMember2022-01-012022-12-310001137774us-gaap:DiscontinuedOperationsHeldforsaleMemberpru:RetirementFullServiceMember2023-01-012023-12-310001137774srt:MinimumMember2024-12-310001137774srt:MaximumMember2024-12-310001137774country:USus-gaap:SecuritiesFinancingTransactionFairValueMember2024-01-012024-12-310001137774us-gaap:NonUsMemberus-gaap:SecuritiesFinancingTransactionFairValueMember2024-01-012024-12-310001137774us-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310001137774us-gaap:ForeignGovernmentDebtSecuritiesMember2024-12-310001137774us-gaap:DomesticCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:PrivateEquityFundsDomesticMember2024-12-310001137774us-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:PrivateEquityFundsForeignMember2024-12-310001137774us-gaap:AssetBackedSecuritiesMember2024-12-310001137774us-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774pru:PrudentialNettingAgreementMemberus-gaap:PrivateEquityFundsDomesticMember2024-12-310001137774us-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001137774us-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:DomesticCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:PrivateEquityFundsDomesticMember2023-12-310001137774us-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:PrivateEquityFundsForeignMember2023-12-310001137774us-gaap:AssetBackedSecuritiesMember2023-12-310001137774us-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774pru:PrudentialNettingAgreementMemberus-gaap:PrivateEquityFundsDomesticMember2023-12-310001137774pru:NAICHighorHighestQualityRatingMemberus-gaap:FixedMaturitiesMember2024-12-310001137774pru:NAICHighorHighestQualityRatingMemberus-gaap:FixedMaturitiesMember2023-12-310001137774pru:NAICOtherThanHighorHighestQualityRatingMemberus-gaap:FixedMaturitiesMember2024-12-310001137774pru:NAICOtherThanHighorHighestQualityRatingMemberus-gaap:FixedMaturitiesMember2023-12-310001137774us-gaap:CorporateDebtSecuritiesMember2024-12-310001137774us-gaap:CorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FixedMaturitiesMemberpru:PrudentialNettingAgreementMemberus-gaap:PrivateEquityFundsDomesticMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FixedMaturitiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FixedMaturitiesMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FixedMaturitiesMember2022-01-012022-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:FixedMaturitiesMember2024-01-012024-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:FixedMaturitiesMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:FixedMaturitiesMember2022-01-012022-12-310001137774pru:AvailableforsaleSecuritiesNetting1Member2024-01-012024-12-310001137774pru:AvailableforsaleSecuritiesNetting1Member2023-01-012023-12-310001137774pru:AvailableforsaleSecuritiesNetting1Member2022-01-012022-12-310001137774pru:HeldToMaturitySecuritiesNettingMember2023-01-012023-12-310001137774pru:HeldToMaturitySecuritiesNettingMember2022-01-012022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:USTreasuryAndGovernmentMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:AssetBackedSecuritiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:AssetBackedSecuritiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:USTreasuryAndGovernmentMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:AssetBackedSecuritiesMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:USTreasuryAndGovernmentMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:AssetBackedSecuritiesMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:USTreasuryAndGovernmentMember2022-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2022-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:AssetBackedSecuritiesMember2022-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310001137774us-gaap:HeldtomaturitySecuritiesMember2022-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:USTreasuryAndGovernmentMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:AssetBackedSecuritiesMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:HeldtomaturitySecuritiesMember2023-12-310001137774us-gaap:CorporateDebtSecuritiesMember2024-12-310001137774us-gaap:CorporateDebtSecuritiesMember2023-12-310001137774us-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-12-310001137774us-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310001137774us-gaap:FixedMaturitiesMember2024-12-310001137774us-gaap:FixedMaturitiesMember2023-12-310001137774us-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:EquitySecuritiesMember2023-12-310001137774pru:PublicSecuritiesMemberMemberus-gaap:FixedMaturitiesMember2023-12-310001137774pru:PublicSecuritiesMemberMemberus-gaap:FixedMaturitiesMember2024-12-310001137774pru:AssetssupportingexperienceratedcontractholderliabilitiesMemberus-gaap:OtherIncomeMemberus-gaap:DiscontinuedOperationsHeldforsaleMember2024-01-012024-12-310001137774pru:AssetssupportingexperienceratedcontractholderliabilitiesMemberus-gaap:OtherIncomeMemberus-gaap:DiscontinuedOperationsHeldforsaleMember2023-01-012023-12-310001137774pru:AssetssupportingexperienceratedcontractholderliabilitiesMemberus-gaap:OtherIncomeMemberus-gaap:DiscontinuedOperationsHeldforsaleMember2022-01-012022-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:OtherIncomeMemberpru:TradingMember2024-01-012024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:OtherIncomeMemberpru:TradingMember2023-01-012023-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:OtherIncomeMemberpru:TradingMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:EquitySecuritiesMember2022-01-012022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberpru:JapanGovernmentAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberpru:JapanGovernmentAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2023-12-310001137774pru:TradingMemberpru:JapanGovernmentAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2024-12-310001137774pru:TradingMemberpru:JapanGovernmentAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2023-12-310001137774pru:JapanGovernmentAndAgenciesSecuritiesMemberpru:AssetssupportingexperienceratedcontractholderliabilitiesMember2024-12-310001137774pru:JapanGovernmentAndAgenciesSecuritiesMemberpru:AssetssupportingexperienceratedcontractholderliabilitiesMember2023-12-310001137774pru:JapanGovernmentAndAgenciesSecuritiesMember2024-12-310001137774pru:JapanGovernmentAndAgenciesSecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberpru:BrazilGovernmentAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberpru:BrazilGovernmentAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2023-12-310001137774pru:TradingMemberpru:BrazilGovernmentAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2024-12-310001137774pru:TradingMemberpru:BrazilGovernmentAndAgenciesSecuritiesMemberus-gaap:FixedMaturitiesMember2023-12-310001137774pru:BrazilGovernmentAndAgenciesSecuritiesMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774pru:BrazilGovernmentAndAgenciesSecuritiesMemberus-gaap:ShortTermInvestmentsMember2023-12-310001137774pru:BrazilGovernmentAndAgenciesSecuritiesMemberus-gaap:CashAndCashEquivalentsMember2024-12-310001137774pru:BrazilGovernmentAndAgenciesSecuritiesMemberus-gaap:CashAndCashEquivalentsMember2023-12-310001137774pru:BrazilGovernmentAndAgenciesSecuritiesMember2024-12-310001137774pru:BrazilGovernmentAndAgenciesSecuritiesMember2023-12-310001137774srt:OfficeBuildingMember2024-12-310001137774srt:OfficeBuildingMember2024-01-012024-12-310001137774srt:OfficeBuildingMember2023-12-310001137774srt:OfficeBuildingMember2023-01-012023-12-310001137774srt:RetailSiteMember2024-12-310001137774srt:RetailSiteMember2024-01-012024-12-310001137774srt:RetailSiteMember2023-12-310001137774srt:RetailSiteMember2023-01-012023-12-310001137774srt:ApartmentBuildingMember2024-12-310001137774srt:ApartmentBuildingMember2024-01-012024-12-310001137774srt:ApartmentBuildingMember2023-12-310001137774srt:ApartmentBuildingMember2023-01-012023-12-310001137774srt:IndustrialPropertyMember2024-12-310001137774srt:IndustrialPropertyMember2024-01-012024-12-310001137774srt:IndustrialPropertyMember2023-12-310001137774srt:IndustrialPropertyMember2023-01-012023-12-310001137774srt:HotelMember2024-12-310001137774srt:HotelMember2024-01-012024-12-310001137774srt:HotelMember2023-12-310001137774srt:HotelMember2023-01-012023-12-310001137774srt:OtherPropertyMember2024-12-310001137774srt:OtherPropertyMember2024-01-012024-12-310001137774srt:OtherPropertyMember2023-12-310001137774srt:OtherPropertyMember2023-01-012023-12-310001137774us-gaap:CommercialLoanMember2024-12-310001137774us-gaap:CommercialLoanMember2024-01-012024-12-310001137774us-gaap:CommercialLoanMember2023-12-310001137774us-gaap:CommercialLoanMember2023-01-012023-12-310001137774pru:AgriculturalPropertiesMember2024-12-310001137774pru:AgriculturalPropertiesMember2024-01-012024-12-310001137774pru:AgriculturalPropertiesMember2023-12-310001137774pru:AgriculturalPropertiesMember2023-01-012023-12-310001137774pru:CommercialMortgageAndAgriculturalLoansMember2024-12-310001137774pru:CommercialMortgageAndAgriculturalLoansMember2023-12-310001137774us-gaap:UncollateralizedMember2024-12-310001137774us-gaap:UncollateralizedMember2023-12-310001137774us-gaap:ResidentialMortgageMember2024-12-310001137774us-gaap:ResidentialMortgageMember2023-12-310001137774us-gaap:CollateralizedLoanObligationsMember2024-12-310001137774us-gaap:CollateralizedLoanObligationsMember2023-12-310001137774pru:OtherloansMember2024-12-310001137774pru:OtherloansMember2023-12-310001137774stpr:CA2024-12-310001137774stpr:TX2024-12-310001137774stpr:FL2024-12-310001137774srt:EuropeMember2024-12-310001137774country:MX2024-12-310001137774srt:AsiaMember2024-12-310001137774country:AU2024-12-310001137774us-gaap:CommercialLoanMember2021-12-310001137774pru:AgriculturalPropertyLoansMember2021-12-310001137774us-gaap:ResidentialMortgageMember2021-12-310001137774us-gaap:CollateralizedLoanObligationsMember2021-12-310001137774us-gaap:UncollateralizedMember2021-12-310001137774us-gaap:CommercialLoanMember2022-01-012022-12-310001137774pru:AgriculturalPropertyLoansMember2022-01-012022-12-310001137774us-gaap:ResidentialMortgageMember2022-01-012022-12-310001137774us-gaap:CollateralizedLoanObligationsMember2022-01-012022-12-310001137774us-gaap:UncollateralizedMember2022-01-012022-12-310001137774us-gaap:CommercialLoanMember2022-12-310001137774pru:AgriculturalPropertyLoansMember2022-12-310001137774us-gaap:ResidentialMortgageMember2022-12-310001137774us-gaap:CollateralizedLoanObligationsMember2022-12-310001137774us-gaap:UncollateralizedMember2022-12-310001137774pru:AgriculturalPropertyLoansMember2023-01-012023-12-310001137774us-gaap:ResidentialMortgageMember2023-01-012023-12-310001137774us-gaap:CollateralizedLoanObligationsMember2023-01-012023-12-310001137774us-gaap:UncollateralizedMember2023-01-012023-12-310001137774pru:AgriculturalPropertyLoansMember2023-12-310001137774pru:AgriculturalPropertyLoansMember2024-01-012024-12-310001137774us-gaap:ResidentialMortgageMember2024-01-012024-12-310001137774us-gaap:CollateralizedLoanObligationsMember2024-01-012024-12-310001137774us-gaap:UncollateralizedMember2024-01-012024-12-310001137774pru:AgriculturalPropertyLoansMember2024-12-310001137774us-gaap:CommercialLoanMemberpru:LoanToValueRatioLessThanFiftyNinePointNineNinePercentMember2024-12-310001137774us-gaap:CommercialLoanMemberpru:LoanToValueRatioSixtyPercentToSixtyNinePointNineNinePercentMember2024-12-310001137774us-gaap:CommercialLoanMemberpru:LoanToValueRatioSeventyPercentToSeventyNinePointNineNinePercentMember2024-12-310001137774us-gaap:CommercialLoanMemberus-gaap:Ltv80To100PercentMember2024-12-310001137774pru:DebtServiceCoverageRatioGreaterThanOnePointTwoXMemberus-gaap:CommercialLoanMember2024-12-310001137774pru:DebtServiceCoverageRatioOnePointZeroXToLessThanTwoPointTwoXMemberus-gaap:CommercialLoanMember2024-12-310001137774pru:DebtServiceCoverageRatioLessThanOnePointZeroXMemberus-gaap:CommercialLoanMember2024-12-310001137774pru:AgriculturalLoanMemberpru:LoanToValueRatioLessThanFiftyNinePointNineNinePercentMember2024-12-310001137774pru:AgriculturalLoanMemberpru:LoanToValueRatioSixtyPercentToSixtyNinePointNineNinePercentMember2024-12-310001137774pru:AgriculturalLoanMemberpru:LoanToValueRatioSeventyPercentToSeventyNinePointNineNinePercentMember2024-12-310001137774pru:AgriculturalLoanMemberus-gaap:Ltv80To100PercentMember2024-12-310001137774pru:AgriculturalLoanMember2024-12-310001137774pru:DebtServiceCoverageRatioGreaterThanOnePointTwoXMemberpru:AgriculturalLoanMember2024-12-310001137774pru:DebtServiceCoverageRatioOnePointZeroXToLessThanTwoPointTwoXMemberpru:AgriculturalLoanMember2024-12-310001137774pru:DebtServiceCoverageRatioLessThanOnePointZeroXMemberpru:AgriculturalLoanMember2024-12-310001137774us-gaap:CommercialLoanMemberpru:LoanToValueRatioLessThanFiftyNinePointNineNinePercentMember2023-12-310001137774us-gaap:CommercialLoanMemberpru:LoanToValueRatioSixtyPercentToSixtyNinePointNineNinePercentMember2023-12-310001137774us-gaap:CommercialLoanMemberpru:LoanToValueRatioSeventyPercentToSeventyNinePointNineNinePercentMember2023-12-310001137774us-gaap:CommercialLoanMemberus-gaap:Ltv80To100PercentMember2023-12-310001137774pru:DebtServiceCoverageRatioGreaterThanOnePointTwoXMemberus-gaap:CommercialLoanMember2023-12-310001137774pru:DebtServiceCoverageRatioOnePointZeroXToLessThanTwoPointTwoXMemberus-gaap:CommercialLoanMember2023-12-310001137774pru:DebtServiceCoverageRatioLessThanOnePointZeroXMemberus-gaap:CommercialLoanMember2023-12-310001137774pru:AgriculturalLoanMemberpru:LoanToValueRatioLessThanFiftyNinePointNineNinePercentMember2023-12-310001137774pru:AgriculturalLoanMemberpru:LoanToValueRatioSixtyPercentToSixtyNinePointNineNinePercentMember2023-12-310001137774pru:AgriculturalLoanMemberpru:LoanToValueRatioSeventyPercentToSeventyNinePointNineNinePercentMember2023-12-310001137774pru:AgriculturalLoanMemberus-gaap:Ltv80To100PercentMember2023-12-310001137774pru:AgriculturalLoanMember2023-12-310001137774pru:DebtServiceCoverageRatioGreaterThanOnePointTwoXMemberpru:AgriculturalLoanMember2023-12-310001137774pru:DebtServiceCoverageRatioOnePointZeroXToLessThanTwoPointTwoXMemberpru:AgriculturalLoanMember2023-12-310001137774pru:DebtServiceCoverageRatioLessThanOnePointZeroXMemberpru:AgriculturalLoanMember2023-12-310001137774us-gaap:ExtendedMaturityMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-12-310001137774us-gaap:PaymentDeferralMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-12-310001137774us-gaap:ExtendedMaturityMemberpru:AgriculturalPortfolioSegmentMember2024-01-012024-12-310001137774us-gaap:PaymentDeferralMemberpru:AgriculturalPortfolioSegmentMember2024-01-012024-12-310001137774us-gaap:CommercialLoanMemberus-gaap:ExtendedMaturityMember2024-01-012024-12-310001137774us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialLoanMember2024-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialLoanMember2024-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialLoanMember2024-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialLoanMember2024-12-310001137774us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialLoanMember2024-12-310001137774us-gaap:FinancialAssetNotPastDueMemberpru:AgriculturalLoanMember2024-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberpru:AgriculturalLoanMember2024-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberpru:AgriculturalLoanMember2024-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpru:AgriculturalLoanMember2024-12-310001137774us-gaap:FinancialAssetPastDueMemberpru:AgriculturalLoanMember2024-12-310001137774us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialMortgageMember2024-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialMortgageMember2024-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialMortgageMember2024-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialMortgageMember2024-12-310001137774us-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialMortgageMember2024-12-310001137774us-gaap:FinancialAssetNotPastDueMemberus-gaap:CollateralizedLoanObligationsMember2024-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CollateralizedLoanObligationsMember2024-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CollateralizedLoanObligationsMember2024-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CollateralizedLoanObligationsMember2024-12-310001137774us-gaap:FinancialAssetPastDueMemberus-gaap:CollateralizedLoanObligationsMember2024-12-310001137774us-gaap:FinancialAssetNotPastDueMemberus-gaap:UncollateralizedMember2024-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:UncollateralizedMember2024-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:UncollateralizedMember2024-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:UncollateralizedMember2024-12-310001137774us-gaap:FinancialAssetPastDueMemberus-gaap:UncollateralizedMember2024-12-310001137774us-gaap:FinancialAssetNotPastDueMember2024-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMember2024-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMember2024-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-12-310001137774us-gaap:FinancialAssetPastDueMember2024-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:LoansMember2024-12-310001137774us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialLoanMember2023-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialLoanMember2023-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialLoanMember2023-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialLoanMember2023-12-310001137774us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialLoanMember2023-12-310001137774us-gaap:FinancialAssetNotPastDueMemberpru:AgriculturalLoanMember2023-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberpru:AgriculturalLoanMember2023-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberpru:AgriculturalLoanMember2023-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpru:AgriculturalLoanMember2023-12-310001137774us-gaap:FinancialAssetPastDueMemberpru:AgriculturalLoanMember2023-12-310001137774us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialMortgageMember2023-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialMortgageMember2023-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialMortgageMember2023-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialMortgageMember2023-12-310001137774us-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialMortgageMember2023-12-310001137774us-gaap:FinancialAssetNotPastDueMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001137774us-gaap:FinancialAssetPastDueMemberus-gaap:CollateralizedLoanObligationsMember2023-12-310001137774us-gaap:FinancialAssetNotPastDueMemberus-gaap:UncollateralizedMember2023-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:UncollateralizedMember2023-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:UncollateralizedMember2023-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:UncollateralizedMember2023-12-310001137774us-gaap:FinancialAssetPastDueMemberus-gaap:UncollateralizedMember2023-12-310001137774us-gaap:FinancialAssetNotPastDueMember2023-12-310001137774us-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001137774us-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001137774us-gaap:FinancialAssetPastDueMember2023-12-310001137774us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:LoansMember2023-12-310001137774srt:PartnershipInterestMemberus-gaap:PrivateEquityFundsMemberus-gaap:EquityMethodInvestmentsMember2024-12-310001137774srt:PartnershipInterestMemberus-gaap:PrivateEquityFundsMemberus-gaap:EquityMethodInvestmentsMember2023-12-310001137774srt:PartnershipInterestMemberus-gaap:HedgeFundsMemberus-gaap:EquityMethodInvestmentsMember2024-12-310001137774srt:PartnershipInterestMemberus-gaap:HedgeFundsMemberus-gaap:EquityMethodInvestmentsMember2023-12-310001137774srt:PartnershipInterestMemberus-gaap:RealEstateInvestmentMemberus-gaap:EquityMethodInvestmentsMember2024-12-310001137774srt:PartnershipInterestMemberus-gaap:RealEstateInvestmentMemberus-gaap:EquityMethodInvestmentsMember2023-12-310001137774srt:PartnershipInterestMemberus-gaap:EquityMethodInvestmentsMember2024-12-310001137774srt:PartnershipInterestMemberus-gaap:EquityMethodInvestmentsMember2023-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMembersrt:PartnershipInterestMemberus-gaap:PrivateEquityFundsMember2024-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMembersrt:PartnershipInterestMemberus-gaap:PrivateEquityFundsMember2023-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMembersrt:PartnershipInterestMemberus-gaap:HedgeFundsMember2024-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMembersrt:PartnershipInterestMemberus-gaap:HedgeFundsMember2023-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMembersrt:PartnershipInterestMemberus-gaap:RealEstateInvestmentMember2024-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMembersrt:PartnershipInterestMemberus-gaap:RealEstateInvestmentMember2023-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMembersrt:PartnershipInterestMember2024-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMembersrt:PartnershipInterestMember2023-12-310001137774srt:PartnershipInterestMember2024-12-310001137774srt:PartnershipInterestMember2023-12-310001137774us-gaap:WhollyOwnedPropertiesMember2024-12-310001137774us-gaap:WhollyOwnedPropertiesMember2023-12-310001137774pru:AlternativeAssetsMember2024-12-310001137774pru:AlternativeAssetsMember2023-12-310001137774pru:CreditInstrumentsMember2024-12-310001137774pru:CreditInstrumentsMember2023-12-310001137774us-gaap:DerivativeMember2024-12-310001137774us-gaap:DerivativeMember2023-12-310001137774us-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:DebtMemberus-gaap:RealEstateInvestmentMember2024-12-310001137774us-gaap:DebtMemberus-gaap:RealEstateInvestmentMember2023-12-310001137774us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOtherMember2024-12-310001137774us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOtherMember2023-12-310001137774pru:LPLLCInterestsMember2024-12-310001137774pru:LPLLCInterestsMember2023-12-310001137774us-gaap:LoansMember2024-12-310001137774us-gaap:LoansMember2023-12-310001137774us-gaap:PolicyLoansMember2024-12-310001137774us-gaap:PolicyLoansMember2023-12-310001137774pru:ShortterminvestmentsandcashequivalentsMember2024-12-310001137774pru:ShortterminvestmentsandcashequivalentsMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FixedMaturitiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FixedMaturitiesMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FixedMaturitiesMember2022-01-012022-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:FixedMaturitiesMember2024-01-012024-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:FixedMaturitiesMember2023-01-012023-12-310001137774us-gaap:HeldtomaturitySecuritiesMemberus-gaap:FixedMaturitiesMember2022-01-012022-12-310001137774pru:TradingMemberus-gaap:FixedMaturitiesMember2024-01-012024-12-310001137774pru:TradingMemberus-gaap:FixedMaturitiesMember2023-01-012023-12-310001137774pru:TradingMemberus-gaap:FixedMaturitiesMember2022-01-012022-12-310001137774pru:AssetssupportingexperienceratedcontractholderliabilitiesMember2024-01-012024-12-310001137774pru:AssetssupportingexperienceratedcontractholderliabilitiesMember2023-01-012023-12-310001137774pru:AssetssupportingexperienceratedcontractholderliabilitiesMember2022-01-012022-12-310001137774us-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774us-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774us-gaap:EquitySecuritiesMember2022-01-012022-12-310001137774us-gaap:LoansMember2024-01-012024-12-310001137774us-gaap:LoansMember2023-01-012023-12-310001137774us-gaap:LoansMember2022-01-012022-12-310001137774us-gaap:PolicyLoansMember2024-01-012024-12-310001137774us-gaap:PolicyLoansMember2023-01-012023-12-310001137774us-gaap:PolicyLoansMember2022-01-012022-12-310001137774us-gaap:OtherInvestmentsMember2024-01-012024-12-310001137774us-gaap:OtherInvestmentsMember2023-01-012023-12-310001137774us-gaap:OtherInvestmentsMember2022-01-012022-12-310001137774pru:ShortterminvestmentsandcashequivalentsMember2024-01-012024-12-310001137774pru:ShortterminvestmentsandcashequivalentsMember2023-01-012023-12-310001137774pru:ShortterminvestmentsandcashequivalentsMember2022-01-012022-12-310001137774pru:CarryingvalueofnonincomeproducingassetsMember2024-12-310001137774us-gaap:FixedMaturitiesMember2024-01-012024-12-310001137774us-gaap:FixedMaturitiesMember2023-01-012023-12-310001137774us-gaap:FixedMaturitiesMember2022-01-012022-12-310001137774us-gaap:RealEstateInvestmentMember2024-01-012024-12-310001137774us-gaap:RealEstateInvestmentMember2023-01-012023-12-310001137774us-gaap:RealEstateInvestmentMember2022-01-012022-12-310001137774srt:PartnershipInterestMember2024-01-012024-12-310001137774srt:PartnershipInterestMember2023-01-012023-12-310001137774srt:PartnershipInterestMember2022-01-012022-12-310001137774us-gaap:DerivativeMember2024-01-012024-12-310001137774us-gaap:DerivativeMember2023-01-012023-12-310001137774us-gaap:DerivativeMember2022-01-012022-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberpru:FixedmaturitysecuritiesavailableforsalewithanallowanceMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberpru:FixedmaturitysecuritiesavailableforsalewithanallowanceMember2023-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberpru:FixedmaturitysecuritiesavailableforsalewithanallowanceMember2022-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberpru:FixedmaturitysecuritiesavailableforsalewithoutanallowanceMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberpru:FixedmaturitysecuritiesavailableforsalewithoutanallowanceMember2023-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberpru:FixedmaturitysecuritiesavailableforsalewithoutanallowanceMember2022-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2024-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2023-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-12-310001137774us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionIncludingPortionAttributableToNoncontrollingInterestMember2024-12-310001137774us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionIncludingPortionAttributableToNoncontrollingInterestMember2023-12-310001137774us-gaap:AccumulatedGainLossFinancialLiabilityFairValueOptionIncludingPortionAttributableToNoncontrollingInterestMember2022-12-310001137774us-gaap:OtherInvestmentsMember2022-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:DomesticCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:DomesticCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:DomesticCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:DomesticCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:DomesticCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:DomesticCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:Maturity30To90DaysMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:MaturityOvernightAndOnDemandMember2024-12-310001137774us-gaap:MaturityUpTo30DaysMember2024-12-310001137774us-gaap:Maturity30To90DaysMember2024-12-310001137774us-gaap:MaturityOvernightAndOnDemandMember2023-12-310001137774us-gaap:MaturityUpTo30DaysMember2023-12-310001137774us-gaap:Maturity30To90DaysMember2023-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:MaturityUpTo30DaysMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FixedMaturitiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FixedMaturitiesMember2023-12-310001137774pru:TradingMemberus-gaap:FixedMaturitiesMember2024-12-310001137774pru:TradingMemberus-gaap:FixedMaturitiesMember2023-12-310001137774pru:SeparateAccountAssetsMember2024-12-310001137774pru:SeparateAccountAssetsMember2023-12-310001137774us-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:ShortTermInvestmentsMember2023-12-310001137774pru:OtherMember2024-12-310001137774pru:OtherMember2023-12-310001137774us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2024-12-310001137774us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2023-12-310001137774pru:CashCollateralForLoanedSecuritiesMember2024-12-310001137774pru:CashCollateralForLoanedSecuritiesMember2023-12-310001137774pru:PolicyholdersAccountBalancesMember2024-12-310001137774pru:PolicyholdersAccountBalancesMember2023-12-310001137774pru:SeparateAccountLiabilitiesMember2024-12-310001137774pru:SeparateAccountLiabilitiesMember2023-12-310001137774us-gaap:ShortTermDebtMember2024-12-310001137774us-gaap:ShortTermDebtMember2023-12-310001137774us-gaap:LongTermDebtMember2024-12-310001137774us-gaap:LongTermDebtMember2023-12-310001137774us-gaap:SecuritiesInvestmentMember2024-12-310001137774us-gaap:CashMember2024-12-310001137774us-gaap:SecuritiesInvestmentMember2023-12-310001137774us-gaap:CashMember2023-12-310001137774srt:AffiliatedEntityMember2024-12-310001137774srt:AffiliatedEntityMember2023-12-310001137774us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-12-310001137774us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310001137774us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2024-12-310001137774us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2023-12-310001137774pru:WhollyOwnedBeneficialInterestsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-12-310001137774pru:WhollyOwnedBeneficialInterestsMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310001137774us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberpru:NotesIssuedByConsolidatedVIEMembersrt:MinimumMember2024-01-012024-12-310001137774us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberpru:NotesIssuedByConsolidatedVIEMembersrt:MaximumMember2024-01-012024-12-310001137774pru:CompanyIsTheInvestmentManagerOfCertainVIEsMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOtherMemberpru:FixedmaturitiesavailableforsaleFixedmaturitiestradingEquitysecuritiesandOtherinvestedassetsMember2024-12-310001137774pru:CompanyIsTheInvestmentManagerOfCertainVIEsMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOtherMemberpru:FixedmaturitiesavailableforsaleFixedmaturitiestradingEquitysecuritiesandOtherinvestedassetsMember2023-12-310001137774pru:CompanyIsTheInvestmentManagerOfCertainVIEsMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOtherMember2024-12-310001137774us-gaap:OtherInvestmentsMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOtherMember2024-12-310001137774us-gaap:OtherInvestmentsMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOtherMember2023-12-310001137774us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-12-310001137774us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001137774pru:InterestRateForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-12-310001137774pru:InterestRateForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001137774us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-12-310001137774us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001137774us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-12-310001137774us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001137774us-gaap:DesignatedAsHedgingInstrumentMember2024-12-310001137774us-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001137774us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2024-12-310001137774us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2023-12-310001137774pru:InterestRateFutureMemberus-gaap:NondesignatedMember2024-12-310001137774pru:InterestRateFutureMemberus-gaap:NondesignatedMember2023-12-310001137774pru:InterestRateOptionMemberus-gaap:NondesignatedMember2024-12-310001137774pru:InterestRateOptionMemberus-gaap:NondesignatedMember2023-12-310001137774pru:InterestRateForwardMemberus-gaap:NondesignatedMember2024-12-310001137774pru:InterestRateForwardMemberus-gaap:NondesignatedMember2023-12-310001137774pru:InterestRateTotalReturnSwapsMemberus-gaap:NondesignatedMember2024-12-310001137774pru:InterestRateTotalReturnSwapsMemberus-gaap:NondesignatedMember2023-12-310001137774us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2024-12-310001137774us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2023-12-310001137774us-gaap:CurrencySwapMemberus-gaap:NondesignatedMember2024-12-310001137774us-gaap:CurrencySwapMemberus-gaap:NondesignatedMember2023-12-310001137774us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2024-12-310001137774us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2023-12-310001137774pru:EquityFutureMemberus-gaap:NondesignatedMember2024-12-310001137774pru:EquityFutureMemberus-gaap:NondesignatedMember2023-12-310001137774us-gaap:StockOptionMemberus-gaap:NondesignatedMember2024-12-310001137774us-gaap:StockOptionMemberus-gaap:NondesignatedMember2023-12-310001137774us-gaap:TotalReturnSwapMemberus-gaap:NondesignatedMember2024-12-310001137774us-gaap:TotalReturnSwapMemberus-gaap:NondesignatedMember2023-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMember2024-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMember2023-12-310001137774pru:SyntheticGicsMemberus-gaap:NondesignatedMember2024-12-310001137774pru:SyntheticGicsMemberus-gaap:NondesignatedMember2023-12-310001137774us-gaap:NondesignatedMember2024-12-310001137774us-gaap:NondesignatedMember2023-12-310001137774us-gaap:FairValueHedgingMember2024-12-310001137774pru:CumulativeAdjustmentIncludedinCarryingAmountMember2024-12-310001137774us-gaap:FairValueHedgingMember2023-12-310001137774pru:CumulativeAdjustmentIncludedinCarryingAmountMember2023-12-310001137774us-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774pru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:FairValueHedgedItemMember2024-01-012024-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMemberpru:FairValueHedgedItemMember2024-01-012024-12-310001137774us-gaap:InvestmentIncomeMemberpru:FairValueHedgedItemMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberpru:FairValueHedgedItemMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberpru:FairValueHedgedItemMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:FairValueHedgedItemMember2024-01-012024-12-310001137774pru:PolicyholderBeneftsMemberpru:FairValueHedgedItemMember2024-01-012024-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberpru:FairValueHedgedItemMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:GainlossexcludedfromassessmentofeffectivenessMember2024-01-012024-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2024-01-012024-12-310001137774us-gaap:InvestmentIncomeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2024-01-012024-12-310001137774pru:PolicyholderBeneftsMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2024-01-012024-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12024-01-012024-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2024-01-012024-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2024-01-012024-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2024-01-012024-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2024-01-012024-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2024-01-012024-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2024-01-012024-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:NondesignatedMember2024-01-012024-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMemberus-gaap:NondesignatedMember2024-01-012024-12-310001137774us-gaap:InvestmentIncomeMemberus-gaap:NondesignatedMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:NondesignatedMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberus-gaap:NondesignatedMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:NondesignatedMember2024-01-012024-12-310001137774pru:PolicyholderBeneftsMemberus-gaap:NondesignatedMember2024-01-012024-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:NondesignatedMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774pru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:FairValueHedgedItemMember2023-01-012023-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMemberpru:FairValueHedgedItemMember2023-01-012023-12-310001137774us-gaap:InvestmentIncomeMemberpru:FairValueHedgedItemMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberpru:FairValueHedgedItemMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberpru:FairValueHedgedItemMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:FairValueHedgedItemMember2023-01-012023-12-310001137774pru:PolicyholderBeneftsMemberpru:FairValueHedgedItemMember2023-01-012023-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberpru:FairValueHedgedItemMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:GainlossexcludedfromassessmentofeffectivenessMember2023-01-012023-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2023-01-012023-12-310001137774us-gaap:InvestmentIncomeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2023-01-012023-12-310001137774pru:PolicyholderBeneftsMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2023-01-012023-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12023-01-012023-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2023-01-012023-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2023-01-012023-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2023-01-012023-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2023-01-012023-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2023-01-012023-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2023-01-012023-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:NondesignatedMember2023-01-012023-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMemberus-gaap:NondesignatedMember2023-01-012023-12-310001137774us-gaap:InvestmentIncomeMemberus-gaap:NondesignatedMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:NondesignatedMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberus-gaap:NondesignatedMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:NondesignatedMember2023-01-012023-12-310001137774pru:PolicyholderBeneftsMemberus-gaap:NondesignatedMember2023-01-012023-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:NondesignatedMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774pru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberpru:FairValueHedgedItemMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:FairValueHedgedItemMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:FairValueHedgedItemMember2022-01-012022-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMemberpru:FairValueHedgedItemMember2022-01-012022-12-310001137774us-gaap:InvestmentIncomeMemberpru:FairValueHedgedItemMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberpru:FairValueHedgedItemMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberpru:FairValueHedgedItemMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:FairValueHedgedItemMember2022-01-012022-12-310001137774pru:PolicyholderBeneftsMemberpru:FairValueHedgedItemMember2022-01-012022-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberpru:FairValueHedgedItemMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberpru:GainlossexcludedfromassessmentofeffectivenessMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:GainlossexcludedfromassessmentofeffectivenessMember2022-01-012022-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2022-01-012022-12-310001137774us-gaap:InvestmentIncomeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2022-01-012022-12-310001137774pru:PolicyholderBeneftsMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2022-01-012022-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberpru:GainlossexcludedfromassessmentofeffectivenessMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:CreditRiskContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:EquityContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:OtherContractMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:GainLossOnInvestmentsMember12022-01-012022-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberpru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMember2022-01-012022-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:InvestmentIncomeMember2022-01-012022-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:OtherIncomeMember2022-01-012022-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:InterestExpenseMember2022-01-012022-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberpru:InterestCreditedToPolicyholderAccountBalancesMember2022-01-012022-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberpru:PolicyholderBeneftsMember2022-01-012022-12-310001137774us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:NondesignatedMember2022-01-012022-12-310001137774pru:MarketRiskBenefitIncreaseDecreaseFromEquityMarketChangeMemberus-gaap:NondesignatedMember2022-01-012022-12-310001137774us-gaap:InvestmentIncomeMemberus-gaap:NondesignatedMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:NondesignatedMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberus-gaap:NondesignatedMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:NondesignatedMember2022-01-012022-12-310001137774pru:PolicyholderBeneftsMemberus-gaap:NondesignatedMember2022-01-012022-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:NondesignatedMember2022-01-012022-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:InterestRateContractMember2022-01-012022-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:ForeignExchangeContractMember2022-01-012022-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:CrossCurrencyInterestRateContractMember2022-01-012022-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-01-012022-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:InterestRateContractMember2023-01-012023-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:ForeignExchangeContractMember2023-01-012023-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:CrossCurrencyInterestRateContractMember2023-01-012023-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2023-01-012023-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2023-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:InterestRateContractMember2024-01-012024-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:ForeignExchangeContractMember2024-01-012024-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMemberus-gaap:CrossCurrencyInterestRateContractMember2024-01-012024-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2024-01-012024-12-310001137774us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2024-12-310001137774us-gaap:CreditIndexProductMember2024-12-310001137774srt:MoodysAaaRatingMemberpru:SingleNameMember2024-12-310001137774srt:MoodysA3RatingMemberpru:SingleNameMember2024-12-310001137774srt:MoodysBa2RatingMemberpru:SingleNameMember2024-12-310001137774srt:MoodysB2RatingMemberpru:SingleNameMember2024-12-310001137774srt:MoodysCaa2RatingMemberpru:SingleNameMember2024-12-310001137774srt:MoodysCRatingMemberpru:SingleNameMember2024-12-310001137774pru:SingleNameMember2024-12-310001137774srt:MoodysAaaRatingMemberpru:CreditDefaultIndexMember2024-12-310001137774srt:MoodysA3RatingMemberpru:CreditDefaultIndexMember2024-12-310001137774srt:MoodysBa2RatingMemberpru:CreditDefaultIndexMember2024-12-310001137774srt:MoodysB2RatingMemberpru:CreditDefaultIndexMember2024-12-310001137774srt:MoodysCaa2RatingMemberpru:CreditDefaultIndexMember2024-12-310001137774srt:MoodysCRatingMemberpru:CreditDefaultIndexMember2024-12-310001137774pru:CreditDefaultIndexMember2024-12-310001137774srt:MoodysAaaRatingMember2024-12-310001137774srt:MoodysA3RatingMember2024-12-310001137774srt:MoodysBa2RatingMember2024-12-310001137774srt:MoodysB2RatingMember2024-12-310001137774srt:MoodysCaa2RatingMember2024-12-310001137774srt:MoodysCRatingMember2024-12-310001137774srt:MoodysAaaRatingMemberpru:SingleNameMember2023-12-310001137774srt:MoodysA3RatingMemberpru:SingleNameMember2023-12-310001137774srt:MoodysBa2RatingMemberpru:SingleNameMember2023-12-310001137774srt:MoodysB2RatingMemberpru:SingleNameMember2023-12-310001137774srt:MoodysCaa2RatingMemberpru:SingleNameMember2023-12-310001137774srt:MoodysCRatingMemberpru:SingleNameMember2023-12-310001137774pru:SingleNameMember2023-12-310001137774srt:MoodysAaaRatingMemberpru:CreditDefaultIndexMember2023-12-310001137774srt:MoodysA3RatingMemberpru:CreditDefaultIndexMember2023-12-310001137774srt:MoodysBa2RatingMemberpru:CreditDefaultIndexMember2023-12-310001137774srt:MoodysB2RatingMemberpru:CreditDefaultIndexMember2023-12-310001137774srt:MoodysCaa2RatingMemberpru:CreditDefaultIndexMember2023-12-310001137774srt:MoodysCRatingMemberpru:CreditDefaultIndexMember2023-12-310001137774pru:CreditDefaultIndexMember2023-12-310001137774srt:MoodysAaaRatingMember2023-12-310001137774srt:MoodysA3RatingMember2023-12-310001137774srt:MoodysBa2RatingMember2023-12-310001137774srt:MoodysB2RatingMember2023-12-310001137774srt:MoodysCaa2RatingMember2023-12-310001137774srt:MoodysCRatingMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DomesticCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DomesticCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DomesticCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DomesticCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsDomesticMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsDomesticMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsDomesticMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsDomesticMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignCorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsForeignMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsForeignMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsForeignMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsForeignMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DomesticCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DomesticCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:DomesticCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:DomesticCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsDomesticMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsDomesticMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsDomesticMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsDomesticMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignCorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsForeignMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsForeignMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsForeignMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:PrivateEquityFundsForeignMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:OtherInvestmentsMember2023-12-310001137774pru:SeparateAccountAssetsMember2024-12-310001137774pru:SeparateAccountAssetsMember2023-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:AssetBackedSecuritiesMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:AssetBackedSecuritiesMember2024-01-012024-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:AssetBackedSecuritiesMember2024-01-012024-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-01-012024-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-01-012024-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberpru:MarketRiskBenefitAssetsMember2024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberpru:MarketRiskBenefitAssetsMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberpru:MarketRiskBenefitAssetsMember2024-01-012024-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueConsensusPricingModelMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueConsensusPricingModelMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueConsensusPricingModelMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-01-012024-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-01-012024-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberpru:MarketRiskBenefitLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001137774pru:MarketRiskBenefitLiabilitiesMembersrt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMember2024-01-012024-12-310001137774pru:MarketRiskBenefitLiabilitiesMembersrt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMember2024-01-012024-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberpru:PolicyholdersAccountBalancesMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001137774pru:PolicyholdersAccountBalancesMembersrt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMember2024-01-012024-12-310001137774pru:PolicyholdersAccountBalancesMembersrt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMember2024-01-012024-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CostApproachValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-01-012023-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-01-012023-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-01-012023-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberpru:MarketRiskBenefitAssetsMember2023-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberpru:MarketRiskBenefitAssetsMember2023-01-012023-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberpru:MarketRiskBenefitAssetsMember2023-01-012023-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:EquitySecuritiesMember2023-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774srt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueConsensusPricingModelMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774srt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueConsensusPricingModelMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774srt:WeightedAverageMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueConsensusPricingModelMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberpru:MarketRiskBenefitLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001137774pru:MarketRiskBenefitLiabilitiesMembersrt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMember2023-01-012023-12-310001137774pru:MarketRiskBenefitLiabilitiesMembersrt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMember2023-01-012023-12-310001137774pru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberpru:PolicyholdersAccountBalancesMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001137774pru:PolicyholdersAccountBalancesMembersrt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMember2023-01-012023-12-310001137774pru:PolicyholdersAccountBalancesMembersrt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMember2023-01-012023-12-310001137774us-gaap:FairValueMeasurementsRecurringMembersrt:MinimumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774us-gaap:FairValueMeasurementsRecurringMembersrt:MaximumMemberpru:InternalPricingMemberus-gaap:FairValueInputsLevel3Memberus-gaap:IncomeApproachValuationTechniqueMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Member2024-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:MinimumMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:MaximumMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Memberpru:MarketRiskBenefitLiabilitiesMembersrt:MinimumMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:StructuredFinanceMember2023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:StructuredFinanceMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:StructuredFinanceMember2024-12-310001137774pru:TradingMemberus-gaap:DebtSecuritiesMember2023-12-310001137774pru:TradingMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774pru:TradingMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774us-gaap:LoansMember2023-12-310001137774us-gaap:LoansMember2024-01-012024-12-310001137774us-gaap:LoansMember2024-12-310001137774us-gaap:OtherInvestmentsMember2024-01-012024-12-310001137774us-gaap:ShortTermInvestmentsMember2023-12-310001137774us-gaap:ShortTermInvestmentsMember2024-01-012024-12-310001137774us-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:CashAndCashEquivalentsMember2023-12-310001137774us-gaap:CashAndCashEquivalentsMember2024-01-012024-12-310001137774us-gaap:CashAndCashEquivalentsMember2024-12-310001137774pru:ReinsuranceRecoverablesAndDepositReceivablesMember2023-12-310001137774pru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-01-012024-12-310001137774pru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-12-310001137774us-gaap:OtherAssetsMember2023-12-310001137774us-gaap:OtherAssetsMember2024-01-012024-12-310001137774us-gaap:OtherAssetsMember2024-12-310001137774pru:SeparateAccountsAssetMember2023-12-310001137774pru:SeparateAccountsAssetMember2024-01-012024-12-310001137774pru:SeparateAccountsAssetMember2024-12-310001137774pru:PolicyholdersAccountBalancesMember2023-12-310001137774pru:PolicyholdersAccountBalancesMember2024-01-012024-12-310001137774pru:PolicyholdersAccountBalancesMember2024-12-310001137774us-gaap:OtherLiabilitiesMember2023-12-310001137774us-gaap:OtherLiabilitiesMember2024-01-012024-12-310001137774us-gaap:OtherLiabilitiesMember2024-12-310001137774pru:NotesIssuedByConsolidatedVIEMember2023-12-310001137774pru:NotesIssuedByConsolidatedVIEMember2024-01-012024-12-310001137774pru:NotesIssuedByConsolidatedVIEMember2024-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:TradingMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:EquitySecuritiesMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:LoansMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:LoansMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:LoansMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:LoansMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:LoansMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:OtherInvestmentsMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:OtherInvestmentsMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:OtherInvestmentsMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:OtherInvestmentsMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:OtherInvestmentsMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:ShortTermInvestmentsMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:ShortTermInvestmentsMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:ShortTermInvestmentsMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:ShortTermInvestmentsMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:ShortTermInvestmentsMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:CashAndCashEquivalentsMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:CashAndCashEquivalentsMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:CashAndCashEquivalentsMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:CashAndCashEquivalentsMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:CashAndCashEquivalentsMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:OtherAssetsMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:OtherAssetsMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:OtherAssetsMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:OtherAssetsMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:OtherAssetsMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:SeparateAccountsAssetMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberpru:SeparateAccountsAssetMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:SeparateAccountsAssetMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:SeparateAccountsAssetMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberpru:SeparateAccountsAssetMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:PolicyholdersAccountBalancesMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberpru:PolicyholdersAccountBalancesMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:PolicyholdersAccountBalancesMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:PolicyholdersAccountBalancesMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberpru:PolicyholdersAccountBalancesMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:OtherLiabilitiesMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberus-gaap:OtherLiabilitiesMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:OtherLiabilitiesMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:OtherLiabilitiesMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:OtherLiabilitiesMember2024-01-012024-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:NotesIssuedByConsolidatedVIEMember2024-01-012024-12-310001137774us-gaap:OtherIncomeMemberpru:NotesIssuedByConsolidatedVIEMember2024-01-012024-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:NotesIssuedByConsolidatedVIEMember2024-01-012024-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:NotesIssuedByConsolidatedVIEMember2024-01-012024-12-310001137774pru:NetInvestmentIncomeMemberpru:NotesIssuedByConsolidatedVIEMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:StructuredFinanceMember2022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMemberus-gaap:StructuredFinanceMember2023-01-012023-12-310001137774pru:TradingMemberus-gaap:DebtSecuritiesMember2022-12-310001137774pru:TradingMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:EquitySecuritiesMember2022-12-310001137774us-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774us-gaap:LoansMember2022-12-310001137774us-gaap:LoansMember2023-01-012023-12-310001137774us-gaap:OtherInvestmentsMember2022-12-310001137774us-gaap:OtherInvestmentsMember2023-01-012023-12-310001137774us-gaap:ShortTermInvestmentsMember2022-12-310001137774us-gaap:ShortTermInvestmentsMember2023-01-012023-12-310001137774us-gaap:CashAndCashEquivalentsMember2022-12-310001137774us-gaap:CashAndCashEquivalentsMember2023-01-012023-12-310001137774pru:ReinsuranceRecoverablesAndDepositReceivablesMember2022-12-310001137774pru:ReinsuranceRecoverablesAndDepositReceivablesMember2023-01-012023-12-310001137774us-gaap:OtherAssetsMember2022-12-310001137774us-gaap:OtherAssetsMember2023-01-012023-12-310001137774pru:SeparateAccountsAssetMember2022-12-310001137774pru:SeparateAccountsAssetMember2023-01-012023-12-310001137774pru:PolicyholdersAccountBalancesMember2022-12-310001137774pru:PolicyholdersAccountBalancesMember2023-01-012023-12-310001137774us-gaap:OtherLiabilitiesMember2022-12-310001137774us-gaap:OtherLiabilitiesMember2023-01-012023-12-310001137774pru:NotesIssuedByConsolidatedVIEMember2022-12-310001137774pru:NotesIssuedByConsolidatedVIEMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:TradingMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:EquitySecuritiesMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:LoansMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:LoansMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:LoansMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:LoansMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:LoansMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:OtherInvestmentsMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:OtherInvestmentsMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:OtherInvestmentsMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:OtherInvestmentsMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:OtherInvestmentsMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:ShortTermInvestmentsMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:ShortTermInvestmentsMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:ShortTermInvestmentsMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:ShortTermInvestmentsMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:ShortTermInvestmentsMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:CashAndCashEquivalentsMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:CashAndCashEquivalentsMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:CashAndCashEquivalentsMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:CashAndCashEquivalentsMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:CashAndCashEquivalentsMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:ReinsuranceRecoverablesAndDepositReceivablesMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:OtherAssetsMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:OtherAssetsMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:OtherAssetsMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:OtherAssetsMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:OtherAssetsMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:SeparateAccountsAssetMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberpru:SeparateAccountsAssetMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:SeparateAccountsAssetMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:SeparateAccountsAssetMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberpru:SeparateAccountsAssetMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:PolicyholdersAccountBalancesMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberpru:PolicyholdersAccountBalancesMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:PolicyholdersAccountBalancesMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:PolicyholdersAccountBalancesMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberpru:PolicyholdersAccountBalancesMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:OtherLiabilitiesMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberus-gaap:OtherLiabilitiesMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:OtherLiabilitiesMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:OtherLiabilitiesMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:OtherLiabilitiesMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:NotesIssuedByConsolidatedVIEMember2023-01-012023-12-310001137774us-gaap:OtherIncomeMemberpru:NotesIssuedByConsolidatedVIEMember2023-01-012023-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:NotesIssuedByConsolidatedVIEMember2023-01-012023-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:NotesIssuedByConsolidatedVIEMember2023-01-012023-12-310001137774pru:NetInvestmentIncomeMemberpru:NotesIssuedByConsolidatedVIEMember2023-01-012023-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:TradingMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberpru:TradingMemberus-gaap:DebtSecuritiesMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:EquitySecuritiesMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:EquitySecuritiesMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:EquitySecuritiesMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:EquitySecuritiesMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:EquitySecuritiesMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:LoansMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:LoansMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:LoansMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:LoansMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:LoansMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:OtherInvestmentsMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:OtherInvestmentsMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:OtherInvestmentsMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:OtherInvestmentsMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:OtherInvestmentsMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:ShortTermInvestmentsMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:ShortTermInvestmentsMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:ShortTermInvestmentsMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:ShortTermInvestmentsMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:ShortTermInvestmentsMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:CashAndCashEquivalentsMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:CashAndCashEquivalentsMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:CashAndCashEquivalentsMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:CashAndCashEquivalentsMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:CashAndCashEquivalentsMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:ReinsuranceRecoverablesAndDepositReceivablesMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberpru:ReinsuranceRecoverablesAndDepositReceivablesMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:OtherAssetsMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:OtherAssetsMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:OtherAssetsMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:OtherAssetsMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:OtherAssetsMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:SeparateAccountsAssetMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberpru:SeparateAccountsAssetMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:SeparateAccountsAssetMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:SeparateAccountsAssetMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberpru:SeparateAccountsAssetMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:PolicyholdersAccountBalancesMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberpru:PolicyholdersAccountBalancesMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:PolicyholdersAccountBalancesMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:PolicyholdersAccountBalancesMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberpru:PolicyholdersAccountBalancesMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1us-gaap:OtherLiabilitiesMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberus-gaap:OtherLiabilitiesMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberus-gaap:OtherLiabilitiesMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberus-gaap:OtherLiabilitiesMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberus-gaap:OtherLiabilitiesMember2022-01-012022-12-310001137774us-gaap:GainLossOnInvestmentsMember1pru:NotesIssuedByConsolidatedVIEMember2022-01-012022-12-310001137774us-gaap:OtherIncomeMemberpru:NotesIssuedByConsolidatedVIEMember2022-01-012022-12-310001137774pru:InterestCreditedToPolicyholderAccountBalancesMemberpru:NotesIssuedByConsolidatedVIEMember2022-01-012022-12-310001137774pru:IncludedinothercomprehensiveincomelossMemberpru:NotesIssuedByConsolidatedVIEMember2022-01-012022-12-310001137774pru:NetInvestmentIncomeMemberpru:NotesIssuedByConsolidatedVIEMember2022-01-012022-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateContractMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateContractMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateContractMember2024-12-310001137774us-gaap:InterestRateContractMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeContractMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeContractMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignExchangeContractMember2024-12-310001137774us-gaap:ForeignExchangeContractMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CreditRiskContractMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CreditRiskContractMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CreditRiskContractMember2024-12-310001137774us-gaap:CreditRiskContractMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CrossCurrencyInterestRateContractMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CrossCurrencyInterestRateContractMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CrossCurrencyInterestRateContractMember2024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:EquityContractMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:EquityContractMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:EquityContractMember2024-12-310001137774us-gaap:EquityContractMember2024-12-310001137774us-gaap:FairValueInputsLevel1Member2024-12-310001137774us-gaap:FairValueInputsLevel2Member2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateContractMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateContractMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateContractMember2023-12-310001137774us-gaap:InterestRateContractMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeContractMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeContractMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignExchangeContractMember2023-12-310001137774us-gaap:ForeignExchangeContractMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CreditRiskContractMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CreditRiskContractMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CreditRiskContractMember2023-12-310001137774us-gaap:CreditRiskContractMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CrossCurrencyInterestRateContractMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CrossCurrencyInterestRateContractMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CrossCurrencyInterestRateContractMember2023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:EquityContractMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:EquityContractMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:EquityContractMember2023-12-310001137774us-gaap:EquityContractMember2023-12-310001137774us-gaap:FairValueInputsLevel1Member2023-12-310001137774us-gaap:FairValueInputsLevel2Member2023-12-310001137774us-gaap:FairValueInputsLevel3Member2023-12-310001137774us-gaap:EquityContractMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMember2024-01-012024-12-310001137774us-gaap:EquityContractMember2022-12-310001137774us-gaap:EquityContractMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMember2022-12-310001137774us-gaap:InterestRateContractMember2023-01-012023-12-310001137774us-gaap:EquityContractMember2021-12-310001137774us-gaap:EquityContractMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMember2021-12-310001137774us-gaap:InterestRateContractMember2022-01-012022-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:ServicingContractsMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:ServicingContractsMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:ServicingContractsMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:RealEstateInvestmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:RealEstateInvestmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:RealEstateInvestmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-12-310001137774us-gaap:FairValueInputsLevel3Memberpru:InvestmentInJointVentureLimitedPartnershipAndOtherMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Memberpru:InvestmentInJointVentureLimitedPartnershipAndOtherMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Memberpru:InvestmentInJointVentureLimitedPartnershipAndOtherMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:GoodwillMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:GoodwillMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:GoodwillMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-01-012022-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialLoanMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:ServicingContractsMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:ServicingContractsMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:RealEstateInvestmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:RealEstateInvestmentMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberpru:InvestmentInJointVentureLimitedPartnershipAndOtherMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberpru:InvestmentInJointVentureLimitedPartnershipAndOtherMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:GoodwillMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:GoodwillMemberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001137774pru:NotesIssuedByConsolidatedVIEMember2022-01-012022-12-310001137774us-gaap:LoansMember2022-01-012022-12-310001137774pru:FairvalueoptionaggregatecontractualprincipalMember2024-12-310001137774pru:FairvalueoptionaggregatecontractualprincipalMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-12-310001137774us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001137774us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMemberpru:PrismicLifeReinsuranceLtdMember2024-12-310001137774us-gaap:CarryingReportedAmountFairValueDisclosureMemberpru:PrismicLifeReinsuranceLtdMember2024-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMemberpru:PrismicLifeReinsuranceLtdMember2023-12-310001137774us-gaap:CarryingReportedAmountFairValueDisclosureMemberpru:PrismicLifeReinsuranceLtdMember2023-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMemberpru:PrudentialNettingAgreementMember2024-12-310001137774us-gaap:CarryingReportedAmountFairValueDisclosureMemberpru:PrudentialNettingAgreementMember2024-12-310001137774us-gaap:EstimateOfFairValueFairValueDisclosureMemberpru:PrudentialNettingAgreementMember2023-12-310001137774us-gaap:CarryingReportedAmountFairValueDisclosureMemberpru:PrudentialNettingAgreementMember2023-12-310001137774pru:IndividualVariableMemberpru:RetirementStrategiesMember2023-12-310001137774us-gaap:TermLifeInsuranceMemberpru:IndividualLifeMember2023-12-310001137774us-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2023-12-310001137774pru:LifePlannerMemberpru:InternationalBusinessesMember2023-12-310001137774pru:GibraltarLifeMemberpru:InternationalBusinessesMember2023-12-310001137774pru:TotalExcludingOtherBusinessesMember2023-12-310001137774pru:IndividualVariableMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774us-gaap:TermLifeInsuranceMemberpru:IndividualLifeMember2024-01-012024-12-310001137774us-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:LifePlannerMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:GibraltarLifeMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:TotalExcludingOtherBusinessesMember2024-01-012024-12-310001137774pru:IndividualVariableMemberpru:RetirementStrategiesMember2024-12-310001137774us-gaap:TermLifeInsuranceMemberpru:IndividualLifeMember2024-12-310001137774us-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2024-12-310001137774pru:LifePlannerMemberpru:InternationalBusinessesMember2024-12-310001137774pru:GibraltarLifeMemberpru:InternationalBusinessesMember2024-12-310001137774pru:TotalExcludingOtherBusinessesMember2024-12-310001137774us-gaap:AllOtherSegmentsMember2024-12-310001137774pru:IndividualVariableMemberpru:RetirementStrategiesMember2022-12-310001137774us-gaap:TermLifeInsuranceMemberpru:IndividualLifeMember2022-12-310001137774us-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2022-12-310001137774pru:LifePlannerMemberpru:InternationalBusinessesMember2022-12-310001137774pru:GibraltarLifeMemberpru:InternationalBusinessesMember2022-12-310001137774pru:TotalExcludingOtherBusinessesMember2022-12-310001137774pru:IndividualVariableMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774us-gaap:TermLifeInsuranceMemberpru:IndividualLifeMember2023-01-012023-12-310001137774us-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:LifePlannerMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:GibraltarLifeMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:TotalExcludingOtherBusinessesMember2023-01-012023-12-310001137774us-gaap:AllOtherSegmentsMember2023-12-310001137774pru:IndividualVariableMemberpru:RetirementStrategiesMember2021-12-310001137774us-gaap:TermLifeInsuranceMemberpru:IndividualLifeMember2021-12-310001137774us-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2021-12-310001137774pru:LifePlannerMemberpru:InternationalBusinessesMember2021-12-310001137774pru:GibraltarLifeMemberpru:InternationalBusinessesMember2021-12-310001137774pru:TotalExcludingOtherBusinessesMember2021-12-310001137774pru:IndividualVariableMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774us-gaap:TermLifeInsuranceMemberpru:IndividualLifeMember2022-01-012022-12-310001137774us-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:LifePlannerMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:GibraltarLifeMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:TotalExcludingOtherBusinessesMember2022-01-012022-12-310001137774us-gaap:AllOtherSegmentsMember2022-12-310001137774pru:DeferredPolicyAcquisitionCostMemberpru:PALACMemberpru:IndividualRetirementStrategiesMember2022-04-012022-04-010001137774pru:IndividualVariableMemberpru:IndividualRetirementStrategiesMember2023-12-310001137774pru:IndividualVariableMemberpru:IndividualRetirementStrategiesMember2022-12-310001137774pru:IndividualVariableMemberpru:IndividualRetirementStrategiesMember2021-12-310001137774pru:IndividualVariableMemberpru:IndividualRetirementStrategiesMember2024-01-012024-12-310001137774pru:IndividualVariableMemberpru:IndividualRetirementStrategiesMember2023-01-012023-12-310001137774pru:IndividualVariableMemberpru:IndividualRetirementStrategiesMember2022-01-012022-12-310001137774pru:IndividualVariableMemberpru:IndividualRetirementStrategiesMember2024-12-310001137774pru:GibraltarLifeAndOtherMember2023-12-310001137774pru:GibraltarLifeAndOtherMember2022-12-310001137774pru:GibraltarLifeAndOtherMember2021-12-310001137774pru:GibraltarLifeAndOtherMember2024-01-012024-12-310001137774pru:GibraltarLifeAndOtherMember2023-01-012023-12-310001137774pru:GibraltarLifeAndOtherMember2022-01-012022-12-310001137774pru:GibraltarLifeAndOtherMember2024-12-310001137774pru:GibraltarLifeAndOtherAndOtherBusinessesMember2024-12-310001137774pru:GibraltarLifeAndOtherAndOtherBusinessesMember2023-12-310001137774pru:GibraltarLifeAndOtherAndOtherBusinessesMember2022-12-310001137774pru:SeparateAccountUSTreasurySecuritiesAndObligationsMember2024-12-310001137774pru:SeparateAccountUSTreasurySecuritiesAndObligationsMember2023-12-310001137774pru:SeparateAccountObligationsOfUSStatesAndTheirPoliticalSubdivisionsMember2024-12-310001137774pru:SeparateAccountObligationsOfUSStatesAndTheirPoliticalSubdivisionsMember2023-12-310001137774pru:SeparateAccountForeignGovernmentBondsMember2024-12-310001137774pru:SeparateAccountForeignGovernmentBondsMember2023-12-310001137774pru:SeparateAccountUSCorporateSecuritiesMember2024-12-310001137774pru:SeparateAccountUSCorporateSecuritiesMember2023-12-310001137774pru:SeparateAccountForeignCorporateSecuritiesMember2024-12-310001137774pru:SeparateAccountForeignCorporateSecuritiesMember2023-12-310001137774pru:SeparateAccountAssetBackedSecuritiesMember2024-12-310001137774pru:SeparateAccountAssetBackedSecuritiesMember2023-12-310001137774us-gaap:SeparateAccountMortgageBackedSecurityMember2024-12-310001137774us-gaap:SeparateAccountMortgageBackedSecurityMember2023-12-310001137774pru:SeparateAccountMutualFundsEquityMember2024-12-310001137774pru:SeparateAccountMutualFundsEquityMember2023-12-310001137774pru:SeparateAccountMutualFundsFixedIncomeMember2024-12-310001137774pru:SeparateAccountMutualFundsFixedIncomeMember2023-12-310001137774pru:SeparateAccountMutualFundsSeparateAccountOtherMember2024-12-310001137774pru:SeparateAccountMutualFundsSeparateAccountOtherMember2023-12-310001137774us-gaap:SeparateAccountEquitySecurityMember2024-12-310001137774us-gaap:SeparateAccountEquitySecurityMember2023-12-310001137774pru:SeparateAccountCommercialMortgageAndOtherLoansMember2024-12-310001137774pru:SeparateAccountCommercialMortgageAndOtherLoansMember2023-12-310001137774pru:SeparateAccountOtherInvestedAssetsMember2024-12-310001137774pru:SeparateAccountOtherInvestedAssetsMember2023-12-310001137774us-gaap:SeparateAccountShortTermInvestmentMember2024-12-310001137774us-gaap:SeparateAccountShortTermInvestmentMember2023-12-310001137774us-gaap:SeparateAccountCashAndCashEquivalentsMember2024-12-310001137774us-gaap:SeparateAccountCashAndCashEquivalentsMember2023-12-310001137774pru:PGIM1Member2023-12-310001137774pru:InstitutionalRetirementStrategiesMemberpru:RetirementStrategiesMember2023-12-310001137774pru:IndividualRetirementStrategiesMemberpru:RetirementStrategiesMember2023-12-310001137774pru:GroupInsuranceMember2023-12-310001137774pru:IndividualLifeMember2023-12-310001137774pru:PGIM1Member2024-01-012024-12-310001137774pru:InstitutionalRetirementStrategiesMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:IndividualRetirementStrategiesMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:GroupInsuranceMember2024-01-012024-12-310001137774pru:IndividualLifeMember2024-01-012024-12-310001137774pru:PGIM1Member2024-12-310001137774pru:InstitutionalRetirementStrategiesMemberpru:RetirementStrategiesMember2024-12-310001137774pru:IndividualRetirementStrategiesMemberpru:RetirementStrategiesMember2024-12-310001137774pru:GroupInsuranceMember2024-12-310001137774pru:IndividualLifeMember2024-12-310001137774us-gaap:CorporateAndOtherMember2024-12-310001137774pru:PGIM1Member2022-12-310001137774pru:InstitutionalRetirementStrategiesMemberpru:RetirementStrategiesMember2022-12-310001137774pru:IndividualRetirementStrategiesMemberpru:RetirementStrategiesMember2022-12-310001137774pru:GroupInsuranceMember2022-12-310001137774pru:IndividualLifeMember2022-12-310001137774pru:PGIM1Member2023-01-012023-12-310001137774pru:InstitutionalRetirementStrategiesMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:IndividualRetirementStrategiesMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:GroupInsuranceMember2023-01-012023-12-310001137774pru:IndividualLifeMember2023-01-012023-12-310001137774us-gaap:CorporateAndOtherMember2023-12-310001137774pru:PGIM1Member2021-12-310001137774pru:InstitutionalRetirementStrategiesMemberpru:RetirementStrategiesMember2021-12-310001137774pru:IndividualRetirementStrategiesMemberpru:RetirementStrategiesMember2021-12-310001137774pru:GroupInsuranceMember2021-12-310001137774pru:IndividualLifeMember2021-12-310001137774pru:PGIM1Member2022-01-012022-12-310001137774pru:InstitutionalRetirementStrategiesMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:IndividualRetirementStrategiesMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:GroupInsuranceMember2022-01-012022-12-310001137774pru:IndividualLifeMember2022-01-012022-12-310001137774us-gaap:CorporateAndOtherMember2022-12-310001137774us-gaap:AssetManagementIncomeMember2024-12-310001137774us-gaap:AssetManagementIncomeMember2023-12-310001137774us-gaap:AssetManagementIncomeMember2022-12-310001137774pru:PGIM1Member2021-12-310001137774pru:InternationalInsuranceMember2021-12-310001137774us-gaap:CorporateAndOtherMember2021-12-310001137774us-gaap:AllOtherSegmentsMember2021-12-310001137774pru:PGIM1Member2022-01-012022-12-310001137774pru:InternationalInsuranceMember2022-01-012022-12-310001137774us-gaap:CorporateAndOtherMember2022-01-012022-12-310001137774us-gaap:AllOtherSegmentsMember2022-01-012022-12-310001137774pru:PGIM1Member2022-12-310001137774pru:InternationalInsuranceMember2022-12-310001137774pru:PGIM1Member2023-01-012023-12-310001137774pru:InternationalInsuranceMember2023-01-012023-12-310001137774us-gaap:CorporateAndOtherMember2023-01-012023-12-310001137774us-gaap:AllOtherSegmentsMember2023-01-012023-12-310001137774pru:PGIM1Member2023-12-310001137774pru:InternationalInsuranceMember2023-12-310001137774pru:PGIM1Member2024-01-012024-12-310001137774pru:InternationalInsuranceMember2024-01-012024-12-310001137774us-gaap:CorporateAndOtherMember2024-01-012024-12-310001137774us-gaap:AllOtherSegmentsMember2024-01-012024-12-310001137774pru:PGIM1Member2024-12-310001137774pru:InternationalInsuranceMember2024-12-310001137774us-gaap:ServicingContractsMember2024-12-310001137774us-gaap:ServicingContractsMember2023-12-310001137774us-gaap:CustomerRelationshipsMember2024-12-310001137774us-gaap:CustomerRelationshipsMember2023-12-310001137774us-gaap:OtherIntangibleAssetsMember2024-12-310001137774us-gaap:OtherIntangibleAssetsMember2023-12-310001137774us-gaap:ServicingContractsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-12-310001137774us-gaap:ServicingContractsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001137774pru:InstitutionalMemberpru:RetirementStrategiesMember2023-12-310001137774pru:TermLifeMemberpru:IndividualLifeMember2023-12-310001137774pru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2023-12-310001137774pru:LongTermCareMemberus-gaap:CorporateAndOtherMember2023-12-310001137774pru:InstitutionalMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:TermLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:LongTermCareMemberus-gaap:CorporateAndOtherMember2024-01-012024-12-310001137774pru:InstitutionalMemberpru:RetirementStrategiesMember2024-12-310001137774pru:TermLifeMemberpru:IndividualLifeMember2024-12-310001137774pru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2024-12-310001137774pru:LongTermCareMemberus-gaap:CorporateAndOtherMember2024-12-310001137774pru:TotalIncludingOtherBusinessesMember2024-12-310001137774pru:InstitutionalMemberpru:RetirementStrategiesMember2022-12-310001137774pru:TermLifeMemberpru:IndividualLifeMember2022-12-310001137774pru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2022-12-310001137774pru:LongTermCareMemberus-gaap:CorporateAndOtherMember2022-12-310001137774pru:InstitutionalMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:TermLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:LongTermCareMemberus-gaap:CorporateAndOtherMember2023-01-012023-12-310001137774pru:TotalIncludingOtherBusinessesMember2023-12-310001137774pru:InstitutionalMemberpru:RetirementStrategiesMember2021-12-310001137774pru:TermLifeMemberpru:IndividualLifeMember2021-12-310001137774pru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2021-12-310001137774pru:LongTermCareMemberus-gaap:CorporateAndOtherMember2021-12-310001137774pru:InstitutionalMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:TermLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:LongTermCareMemberus-gaap:CorporateAndOtherMember2022-01-012022-12-310001137774pru:TotalIncludingOtherBusinessesMember2022-12-310001137774pru:GrossBasisMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2024-12-310001137774pru:GrossBasisMemberpru:TermLifeMemberpru:IndividualLifeMember2024-12-310001137774pru:GrossBasisMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2024-12-310001137774pru:GrossBasisMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2024-12-310001137774pru:GrossBasisMemberpru:LongTermCareMemberus-gaap:CorporateAndOtherMember2024-12-310001137774pru:GrossBasisMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2023-12-310001137774pru:GrossBasisMemberpru:TermLifeMemberpru:IndividualLifeMember2023-12-310001137774pru:GrossBasisMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2023-12-310001137774pru:GrossBasisMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2023-12-310001137774pru:GrossBasisMemberpru:LongTermCareMemberus-gaap:CorporateAndOtherMember2023-12-310001137774pru:GrossBasisMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2022-12-310001137774pru:GrossBasisMemberpru:TermLifeMemberpru:IndividualLifeMember2022-12-310001137774pru:GrossBasisMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2022-12-310001137774pru:GrossBasisMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2022-12-310001137774pru:GrossBasisMemberpru:LongTermCareMemberus-gaap:CorporateAndOtherMember2022-12-310001137774pru:NonparticipatingTraditionalAndLimitedPayBusinessMember2022-01-012022-12-310001137774pru:DeferredProfitLiabilityMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2023-12-310001137774pru:DeferredProfitLiabilityMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2023-12-310001137774pru:DeferredProfitLiabilityMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2023-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalExcludingOtherBusinessesMember2023-12-310001137774pru:DeferredProfitLiabilityMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:DeferredProfitLiabilityMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:DeferredProfitLiabilityMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalExcludingOtherBusinessesMember2024-01-012024-12-310001137774pru:DeferredProfitLiabilityMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2024-12-310001137774pru:DeferredProfitLiabilityMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2024-12-310001137774pru:DeferredProfitLiabilityMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2024-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalExcludingOtherBusinessesMember2024-12-310001137774pru:DeferredProfitLiabilityMemberus-gaap:AllOtherSegmentsMember2024-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalIncludingOtherBusinessesMember2024-12-310001137774pru:DeferredProfitLiabilityMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2022-12-310001137774pru:DeferredProfitLiabilityMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2022-12-310001137774pru:DeferredProfitLiabilityMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2022-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalExcludingOtherBusinessesMember2022-12-310001137774pru:DeferredProfitLiabilityMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:DeferredProfitLiabilityMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:DeferredProfitLiabilityMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalExcludingOtherBusinessesMember2023-01-012023-12-310001137774pru:DeferredProfitLiabilityMemberus-gaap:AllOtherSegmentsMember2023-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalIncludingOtherBusinessesMember2023-12-310001137774pru:DeferredProfitLiabilityMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2021-12-310001137774pru:DeferredProfitLiabilityMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2021-12-310001137774pru:DeferredProfitLiabilityMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2021-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalExcludingOtherBusinessesMember2021-12-310001137774pru:DeferredProfitLiabilityMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:DeferredProfitLiabilityMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:DeferredProfitLiabilityMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalExcludingOtherBusinessesMember2022-01-012022-12-310001137774pru:DeferredProfitLiabilityMemberus-gaap:AllOtherSegmentsMember2022-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalIncludingOtherBusinessesMember2022-12-310001137774pru:IndividualLifeMemberpru:TotalExcludingOtherBusinessesMember2023-12-310001137774pru:IndividualLifeMemberpru:TotalExcludingOtherBusinessesMember2022-12-310001137774pru:IndividualLifeMemberpru:TotalExcludingOtherBusinessesMember2021-12-310001137774pru:IndividualLifeMemberpru:TotalExcludingOtherBusinessesMember2024-01-012024-12-310001137774pru:IndividualLifeMemberpru:TotalExcludingOtherBusinessesMember2023-01-012023-12-310001137774pru:IndividualLifeMemberpru:TotalExcludingOtherBusinessesMember2022-01-012022-12-310001137774pru:IndividualLifeMemberpru:TotalExcludingOtherBusinessesMember2024-12-310001137774pru:GrossBasisMemberpru:IndividualLifeMember2024-12-310001137774pru:GrossBasisMemberpru:IndividualLifeMember2023-12-310001137774pru:GrossBasisMemberpru:IndividualLifeMember2022-12-310001137774pru:BenefitReservesMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:BenefitReservesMemberpru:TermLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:BenefitReservesMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:BenefitReservesMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:BenefitReservesMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:BenefitReservesMemberus-gaap:AllOtherSegmentsMember2024-01-012024-12-310001137774pru:BenefitReservesMemberpru:TotalAllSegmentsMember2024-01-012024-12-310001137774pru:DeferredProfitLiabilityMemberpru:TermLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:DeferredProfitLiabilityMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:DeferredProfitLiabilityMemberus-gaap:AllOtherSegmentsMember2024-01-012024-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalAllSegmentsMember2024-01-012024-12-310001137774pru:AdditionalInsuranceReservesMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:AdditionalInsuranceReservesMemberpru:TermLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:AdditionalInsuranceReservesMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:AdditionalInsuranceReservesMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:AdditionalInsuranceReservesMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:AdditionalInsuranceReservesMemberus-gaap:AllOtherSegmentsMember2024-01-012024-12-310001137774pru:AdditionalInsuranceReservesMemberpru:TotalAllSegmentsMember2024-01-012024-12-310001137774pru:RevenuesMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:RevenuesMemberpru:TermLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:RevenuesMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:RevenuesMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:RevenuesMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:RevenuesMemberus-gaap:AllOtherSegmentsMember2024-01-012024-12-310001137774pru:RevenuesMemberpru:TotalAllSegmentsMember2024-01-012024-12-310001137774pru:BenefitReservesMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:BenefitReservesMemberpru:TermLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:BenefitReservesMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:BenefitReservesMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:BenefitReservesMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:BenefitReservesMemberus-gaap:AllOtherSegmentsMember2023-01-012023-12-310001137774pru:BenefitReservesMemberpru:TotalAllSegmentsMember2023-01-012023-12-310001137774pru:DeferredProfitLiabilityMemberpru:TermLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:DeferredProfitLiabilityMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:DeferredProfitLiabilityMemberus-gaap:AllOtherSegmentsMember2023-01-012023-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalAllSegmentsMember2023-01-012023-12-310001137774pru:AdditionalInsuranceReservesMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:AdditionalInsuranceReservesMemberpru:TermLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:AdditionalInsuranceReservesMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:AdditionalInsuranceReservesMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:AdditionalInsuranceReservesMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:AdditionalInsuranceReservesMemberus-gaap:AllOtherSegmentsMember2023-01-012023-12-310001137774pru:AdditionalInsuranceReservesMemberpru:TotalAllSegmentsMember2023-01-012023-12-310001137774pru:RevenuesMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:RevenuesMemberpru:TermLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:RevenuesMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:RevenuesMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:RevenuesMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:RevenuesMemberus-gaap:AllOtherSegmentsMember2023-01-012023-12-310001137774pru:RevenuesMemberpru:TotalAllSegmentsMember2023-01-012023-12-310001137774pru:BenefitReservesMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:BenefitReservesMemberpru:TermLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:BenefitReservesMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:BenefitReservesMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:BenefitReservesMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:BenefitReservesMemberus-gaap:AllOtherSegmentsMember2022-01-012022-12-310001137774pru:BenefitReservesMemberpru:TotalAllSegmentsMember2022-01-012022-12-310001137774pru:DeferredProfitLiabilityMemberpru:TermLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:DeferredProfitLiabilityMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:DeferredProfitLiabilityMemberus-gaap:AllOtherSegmentsMember2022-01-012022-12-310001137774pru:DeferredProfitLiabilityMemberpru:TotalAllSegmentsMember2022-01-012022-12-310001137774pru:AdditionalInsuranceReservesMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:AdditionalInsuranceReservesMemberpru:TermLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:AdditionalInsuranceReservesMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:AdditionalInsuranceReservesMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:AdditionalInsuranceReservesMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:AdditionalInsuranceReservesMemberus-gaap:AllOtherSegmentsMember2022-01-012022-12-310001137774pru:AdditionalInsuranceReservesMemberpru:TotalAllSegmentsMember2022-01-012022-12-310001137774pru:RevenuesMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:RevenuesMemberpru:TermLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:RevenuesMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:RevenuesMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:RevenuesMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:RevenuesMemberus-gaap:AllOtherSegmentsMember2022-01-012022-12-310001137774pru:RevenuesMemberpru:TotalAllSegmentsMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberpru:TermLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberus-gaap:AllOtherSegmentsMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberpru:TotalAllSegmentsMember2024-01-012024-12-310001137774us-gaap:InterestExpenseMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberpru:TermLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberus-gaap:AllOtherSegmentsMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberpru:TotalAllSegmentsMember2023-01-012023-12-310001137774us-gaap:InterestExpenseMemberpru:InstitutionalMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberpru:TermLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberus-gaap:VariableUniversalLifeMemberpru:IndividualLifeMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberpru:LifePlannerMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberpru:GibraltarLifeAndOtherMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberus-gaap:AllOtherSegmentsMember2022-01-012022-12-310001137774us-gaap:InterestExpenseMemberpru:TotalAllSegmentsMember2022-01-012022-12-310001137774pru:IndividualFixedMemberpru:RetirementStrategiesMember2023-12-310001137774pru:LifeDisabilityMemberpru:GroupInsuranceMember2023-12-310001137774pru:IndividualFixedMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:LifeDisabilityMemberpru:GroupInsuranceMember2024-01-012024-12-310001137774pru:IndividualFixedMemberpru:RetirementStrategiesMember2024-12-310001137774pru:LifeDisabilityMemberpru:GroupInsuranceMember2024-12-310001137774pru:IndividualFixedMemberpru:RetirementStrategiesMember2022-12-310001137774pru:LifeDisabilityMemberpru:GroupInsuranceMember2022-12-310001137774pru:IndividualFixedMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:LifeDisabilityMemberpru:GroupInsuranceMember2023-01-012023-12-310001137774pru:IndividualFixedMemberpru:RetirementStrategiesMember2021-12-310001137774pru:LifeDisabilityMemberpru:GroupInsuranceMember2021-12-310001137774pru:IndividualFixedMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:LifeDisabilityMemberpru:GroupInsuranceMember2022-01-012022-12-310001137774pru:FullServiceMemberus-gaap:CorporateAndOtherMember2024-12-310001137774pru:FullServiceMemberus-gaap:CorporateAndOtherMember2023-12-310001137774pru:FullServiceMemberus-gaap:CorporateAndOtherMember2022-12-310001137774pru:FANIPMemberpru:InstitutionalRetirementStrategiesAndLifePlannerMember2024-12-310001137774pru:FANIPMemberpru:InstitutionalRetirementStrategiesAndLifePlannerMember2023-12-310001137774pru:FANIPMemberpru:InstitutionalRetirementStrategiesAndLifePlannerMember2022-12-310001137774pru:FANIPMemberus-gaap:MediumTermNotesMember2024-12-310001137774pru:FANIPMemberus-gaap:CommercialPaperMember2024-12-310001137774pru:FANIPMemberus-gaap:MediumTermNotesMembersrt:MinimumMember2024-12-310001137774pru:FANIPMemberus-gaap:CommercialPaperMembersrt:MinimumMember2024-12-310001137774pru:FANIPMemberus-gaap:CommercialPaperMembersrt:MaximumMember2024-12-310001137774pru:FANIPMemberus-gaap:MediumTermNotesMembersrt:MaximumMember2024-12-310001137774pru:FANIPMemberus-gaap:MediumTermNotesMember2023-12-310001137774pru:FANIPMemberus-gaap:MediumTermNotesMember2022-12-310001137774pru:FANIPMemberus-gaap:CommercialPaperMember2023-12-310001137774pru:FANIPMemberus-gaap:CommercialPaperMember2022-12-310001137774pru:FHLBNYMemberus-gaap:SecuredDebtMember2024-12-310001137774pru:FHLBNYMemberus-gaap:SecuredDebtMember2023-12-310001137774pru:FHLBNYMemberus-gaap:SecuredDebtMember2022-12-310001137774pru:FHLBNYMemberus-gaap:SecuredDebtMembersrt:MinimumMember2024-12-310001137774pru:FHLBNYMemberus-gaap:SecuredDebtMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MinimumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MinimumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MaximumMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Member2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMembersrt:MinimumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:InstitutionalMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:InstitutionalMember2024-12-310001137774pru:InstitutionalMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMembersrt:MinimumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:IndividualVariableMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:IndividualVariableMember2024-12-310001137774pru:IndividualVariableMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMembersrt:MinimumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:IndividualFixedMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:IndividualFixedMember2024-12-310001137774pru:IndividualFixedMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMembersrt:MinimumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:GroupInsuranceMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:GroupInsuranceMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMembersrt:MinimumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:VariableUniversalLifeMember2024-12-310001137774us-gaap:VariableUniversalLifeMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMembersrt:MinimumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:LifePlannerMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:LifePlannerMember2024-12-310001137774pru:LifePlannerMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMembersrt:MinimumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMembersrt:MinimumMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMembersrt:MaximumMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:GibraltarLifeAndOtherMember2024-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MinimumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MinimumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MaximumMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Member2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMembersrt:MinimumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:InstitutionalMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:InstitutionalMember2023-12-310001137774pru:InstitutionalMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMembersrt:MinimumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:IndividualVariableMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:IndividualVariableMember2023-12-310001137774pru:IndividualVariableMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMembersrt:MinimumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:IndividualFixedMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:IndividualFixedMember2023-12-310001137774pru:IndividualFixedMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMembersrt:MinimumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:GroupInsuranceMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:GroupInsuranceMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMembersrt:MinimumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:VariableUniversalLifeMember2023-12-310001137774us-gaap:VariableUniversalLifeMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMembersrt:MinimumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:LifePlannerMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:LifePlannerMember2023-12-310001137774pru:LifePlannerMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMembersrt:MinimumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMembersrt:MinimumMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMembersrt:MaximumMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:GibraltarLifeAndOtherMember2023-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MinimumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MinimumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MaximumMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Member2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMembersrt:MinimumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:InstitutionalMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:InstitutionalMember2022-12-310001137774pru:InstitutionalMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMembersrt:MinimumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:IndividualVariableMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:IndividualVariableMember2022-12-310001137774pru:IndividualVariableMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMembersrt:MinimumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:IndividualFixedMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:IndividualFixedMember2022-12-310001137774pru:IndividualFixedMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMembersrt:MinimumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:GroupInsuranceMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:GroupInsuranceMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMembersrt:MinimumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:VariableUniversalLifeMember2022-12-310001137774us-gaap:VariableUniversalLifeMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMembersrt:MinimumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:LifePlannerMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:LifePlannerMember2022-12-310001137774pru:LifePlannerMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeLessThan0100Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0100To0199Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMembersrt:MinimumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0200To0299Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMembersrt:MinimumMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMembersrt:MaximumMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0300To0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan0400Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:OtherBusinessesMember2024-12-310001137774pru:OtherBusinessesMember2023-12-310001137774pru:OtherBusinessesMember2022-12-310001137774pru:IndividualRetirementStrategiesMember2023-12-310001137774pru:IndividualRetirementStrategiesMember2022-12-310001137774pru:IndividualRetirementStrategiesMember2021-12-310001137774pru:IndividualRetirementStrategiesMember2024-01-012024-12-310001137774pru:IndividualRetirementStrategiesMember2023-01-012023-12-310001137774pru:IndividualRetirementStrategiesMember2022-01-012022-12-310001137774pru:IndividualRetirementStrategiesMember2024-12-310001137774pru:PALACMemberpru:MarketRiskBenefitMemberpru:IndividualRetirementStrategiesMember2022-04-012022-04-010001137774pru:OtherBusinessesMember2024-12-310001137774pru:OtherBusinessesMember2023-12-310001137774pru:OtherBusinessesMember2022-12-310001137774us-gaap:UniversalLifeMemberpru:WiltonReMember2024-10-012024-10-010001137774pru:WiltonReMember2024-10-012024-10-010001137774us-gaap:UniversalLifeMemberpru:SomersetReMember2024-01-012024-01-010001137774pru:SomersetReMember2024-01-010001137774pru:SomersetReMember2024-12-310001137774pru:SomersetReMember2023-12-310001137774pru:PrismicLifeReinsuranceLtdMember2023-09-012023-09-010001137774us-gaap:StructuredSettlementAnnuityMemberpru:PrismicLifeReinsuranceLtdMember2023-09-012023-09-010001137774pru:CoinsuranceWithFundsWitheldMemberpru:PrismicLifeReinsuranceLtdMember2023-09-012023-09-010001137774pru:CoinsuranceMemberpru:PrismicLifeReinsuranceLtdMember2023-09-012023-09-010001137774pru:TheOhioNationalLifeInsuranceCoMember2023-04-012023-04-010001137774us-gaap:VariableAnnuityMemberpru:TheOhioNationalLifeInsuranceCoMember2023-04-012023-04-010001137774pru:SeparateAccountLiabilitiesUnderMODCOMemberpru:TheOhioNationalLifeInsuranceCoMember2023-04-012023-04-010001137774pru:GeneralAccountLiabilitiesUnderMODCOMemberpru:TheOhioNationalLifeInsuranceCoMember2023-04-012023-04-010001137774pru:TheOhioNationalLifeInsuranceCoMember2023-04-010001137774pru:SeparateAccountLiabilitiesUnderMODCOMemberpru:GreatWestAndGreatWestOfNYMember2022-04-012022-04-010001137774pru:GeneralAccountLiabilitiesUnderMODCOMemberpru:GreatWestAndGreatWestOfNYMember2022-04-012022-04-010001137774pru:QuoteShareReinsuranceforHDIv.3.0VABusinessMemberpru:UnionHamiltonReinsuranceLtd.Member2015-04-012015-04-010001137774pru:QuoteShareReinsuranceforHDIv.3.0VABusinessMemberpru:UnionHamiltonReinsuranceLtd.Member2015-04-012016-12-310001137774pru:HartfordMember2013-01-020001137774pru:HartfordMember2013-01-022013-01-020001137774pru:HartfordMember2018-05-310001137774pru:TheAllstateCorporationMember2021-12-310001137774us-gaap:GeographicDistributionDomesticMember2000-01-012000-12-310001137774us-gaap:GeographicDistributionDomesticMember2013-01-012013-12-310001137774us-gaap:GeographicDistributionDomesticMember2020-01-012020-12-310001137774pru:IndividualAndGroupAnnuitiesMember2024-12-310001137774pru:IndividualAndGroupAnnuitiesMember2023-12-310001137774us-gaap:LifeInsuranceSegmentMember2024-12-310001137774us-gaap:LifeInsuranceSegmentMember2023-12-310001137774pru:OtherReinsuranceMember2024-12-310001137774pru:OtherReinsuranceMember2023-12-310001137774pru:PrismicLifeReinsuranceLtdMemberpru:IndividualAndGroupAnnuitiesMember2024-12-310001137774pru:PrismicLifeReinsuranceLtdMemberpru:IndividualAndGroupAnnuitiesMember2023-12-310001137774pru:PrismicLifeReinsuranceLtdMember2024-12-310001137774pru:PrismicLifeReinsuranceLtdMember2023-12-310001137774pru:FLIACMemberpru:IndividualAndGroupAnnuitiesMember2024-12-310001137774pru:FLIACMemberpru:IndividualAndGroupAnnuitiesMember2023-12-310001137774pru:HartfordMemberus-gaap:LifeInsuranceSegmentMember2024-12-310001137774pru:HartfordMemberus-gaap:LifeInsuranceSegmentMember2023-12-310001137774pru:SomersetReMemberus-gaap:LifeInsuranceSegmentMember2024-12-310001137774pru:WiltonReMemberus-gaap:LifeInsuranceSegmentMember2024-12-310001137774pru:ExcessOfActualCumulativeEarningsOverExpectedCumulativeEarningsMember2024-12-310001137774pru:AccumulatedNetUnrealizedInvestmentGainLossPreTaxMember2024-12-310001137774pru:ExcessOfActualCumulativeEarningsOverExpectedCumulativeEarningsMember2023-12-310001137774pru:AccumulatedNetUnrealizedInvestmentGainLossPreTaxMember2023-12-3100011377742023-01-0100011377742022-01-010001137774us-gaap:NationalTaxAgencyJapanMember2024-01-012024-12-310001137774us-gaap:SecretariatOfTheFederalRevenueBureauOfBrazilMember2024-01-012024-12-310001137774us-gaap:SecretariatOfTheFederalRevenueBureauOfBrazilMember2021-01-012021-12-310001137774pru:BrazilFullInclusionMember2021-01-012021-12-310001137774pru:BrazilFullInclusionMember2022-01-012022-12-310001137774us-gaap:OfficeOfTheTaxCommissionerBermudaMember2024-01-012024-12-310001137774us-gaap:OfficeOfTheTaxCommissionerBermudaMember2024-12-310001137774us-gaap:SecretariatOfTheFederalRevenueBureauOfBrazilMember2023-12-310001137774us-gaap:DomesticCountryMember2022-12-310001137774us-gaap:StateAndLocalJurisdictionMember2022-12-310001137774us-gaap:ForeignCountryMember2022-12-310001137774us-gaap:DomesticCountryMember2023-01-012023-12-310001137774us-gaap:StateAndLocalJurisdictionMember2023-01-012023-12-310001137774us-gaap:ForeignCountryMember2023-01-012023-12-310001137774us-gaap:DomesticCountryMember2023-12-310001137774us-gaap:StateAndLocalJurisdictionMember2023-12-310001137774us-gaap:ForeignCountryMember2023-12-310001137774us-gaap:DomesticCountryMember2024-01-012024-12-310001137774us-gaap:StateAndLocalJurisdictionMember2024-01-012024-12-310001137774us-gaap:ForeignCountryMember2024-01-012024-12-310001137774us-gaap:DomesticCountryMember2024-12-310001137774us-gaap:StateAndLocalJurisdictionMember2024-12-310001137774us-gaap:ForeignCountryMember2024-12-310001137774pru:FederalforeignDomain2024-12-310001137774pru:FederalforeignDomain2023-12-310001137774us-gaap:EarliestTaxYearMemberus-gaap:ForeignCountryMember2024-12-310001137774us-gaap:LatestTaxYearMemberus-gaap:ForeignCountryMember2024-12-310001137774us-gaap:CommercialPaperMembersrt:ParentCompanyMember2024-12-310001137774us-gaap:CommercialPaperMembersrt:ParentCompanyMember2023-12-310001137774us-gaap:CommercialPaperMemberpru:PrudentialFundingLLCMember2024-12-310001137774us-gaap:CommercialPaperMemberpru:PrudentialFundingLLCMember2023-12-310001137774us-gaap:CommercialPaperMember2024-12-310001137774us-gaap:CommercialPaperMember2023-12-310001137774us-gaap:SubordinatedDebtMember2024-12-310001137774us-gaap:SubordinatedDebtMember2023-12-310001137774us-gaap:MortgagesMember2024-12-310001137774us-gaap:MortgagesMember2023-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMember2023-12-310001137774us-gaap:LongTermDebtMember2024-12-310001137774us-gaap:LongTermDebtMember2023-12-310001137774us-gaap:ShortTermDebtMember2024-12-310001137774us-gaap:ShortTermDebtMember2023-12-310001137774us-gaap:MaturityOvernightMemberus-gaap:CommercialPaperMember2024-12-310001137774us-gaap:MaturityOvernightMemberus-gaap:CommercialPaperMember2023-12-310001137774us-gaap:MaturityOnDemandMemberus-gaap:CommercialPaperMember2024-12-310001137774us-gaap:MaturityOnDemandMemberus-gaap:CommercialPaperMember2023-12-310001137774us-gaap:CommercialPaperMember2024-01-012024-12-310001137774us-gaap:CommercialPaperMember2023-01-012023-12-310001137774srt:ParentCompanyMember2023-12-310001137774srt:ParentCompanyMember2024-12-310001137774srt:FederalHomeLoanBankOfNewYorkMembersrt:SubsidiariesMember2024-12-310001137774srt:FederalHomeLoanBankOfNewYorkMembersrt:SubsidiariesMember2024-01-012024-12-310001137774srt:FederalHomeLoanBankOfNewYorkMembersrt:SubsidiariesMember2023-12-310001137774srt:FederalHomeLoanBankOfNewYorkMemberus-gaap:LongTermDebtMembersrt:SubsidiariesMember2024-12-310001137774srt:FederalHomeLoanBankOfNewYorkMembersrt:SubsidiariesMembersrt:MinimumMember2024-12-310001137774srt:FederalHomeLoanBankOfNewYorkMembersrt:SubsidiariesMembersrt:MaximumMember2024-12-310001137774srt:ParentCompanyMemberus-gaap:MortgagesMember2024-12-310001137774pru:ParentCompanyPrudentialFundingCombinedMember2024-01-012024-12-310001137774pru:ParentCompanyPrudentialFundingCombinedMember2024-12-310001137774pru:PrudentialHoldingsofJapanMember2024-01-012024-12-310001137774pru:PrudentialHoldingsofJapanMember2024-12-310001137774pru:ParentCompanyPrudentialFundingCombinedMember2024-07-012024-07-310001137774pru:PrudentialHoldingsofJapanMember2024-09-012024-09-300001137774pru:OtherSubsidiariesMember2024-12-310001137774us-gaap:RealEstateFundsMemberpru:OtherSubsidiariesMember2024-12-310001137774us-gaap:RealEstateFundsMemberpru:OtherSubsidiariesMember2024-01-012024-12-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMemberus-gaap:SeniorNotesMember2020-05-012020-05-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMember2020-05-150001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMemberus-gaap:SeniorNotesMember2020-05-150001137774us-gaap:PutOptionMembersrt:ParentCompanyMember2024-12-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMemberus-gaap:SeniorNotesMemberpru:MaturityInFebruary2033Member2023-03-012023-03-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMemberus-gaap:SeniorNotesMemberpru:MaturityInFebruary2053Member2023-03-012023-03-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMemberus-gaap:SeniorNotesMember2023-03-012023-03-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMember2024-01-012024-12-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMemberpru:MaturityInFebruary2033Member2024-12-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMemberpru:MaturityInFebruary2053Member2024-12-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMemberpru:MaturityInFebruary2033Member2023-03-012023-03-310001137774us-gaap:PrivatePlacementMembersrt:ParentCompanyMemberpru:MaturityInFebruary2053Member2023-03-012023-03-310001137774us-gaap:SubordinatedDebtMemberus-gaap:FederalFundsEffectiveSwapRateMember2024-12-310001137774us-gaap:SubordinatedDebtMemberus-gaap:FederalFundsEffectiveSwapRateMember2023-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MinimumMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MaximumMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberus-gaap:FederalFundsEffectiveSwapRateMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberus-gaap:FederalFundsEffectiveSwapRateMember2023-12-310001137774us-gaap:SeniorNotesMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MinimumMember2024-12-310001137774us-gaap:SeniorNotesMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MaximumMember2024-12-310001137774us-gaap:SeniorNotesMemberus-gaap:FederalFundsEffectiveSwapRateMember2024-12-310001137774us-gaap:SeniorNotesMemberus-gaap:FederalFundsEffectiveSwapRateMember2023-12-310001137774us-gaap:MortgagesMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MinimumMember2024-12-310001137774us-gaap:MortgagesMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MaximumMember2024-12-310001137774us-gaap:MortgagesMemberus-gaap:FederalFundsEffectiveSwapRateMember2024-12-310001137774us-gaap:MortgagesMemberus-gaap:FederalFundsEffectiveSwapRateMember2023-12-310001137774us-gaap:LineOfCreditMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MinimumMember2024-12-310001137774us-gaap:LineOfCreditMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MaximumMember2024-12-310001137774us-gaap:LineOfCreditMemberpru:FloatingRateDebtMember2024-12-310001137774us-gaap:LineOfCreditMemberpru:FloatingRateDebtMember2023-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberpru:FloatingRateDebtMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberpru:FloatingRateDebtMember2023-12-310001137774us-gaap:MortgagesMemberpru:FloatingRateDebtMembersrt:MinimumMember2024-12-310001137774us-gaap:MortgagesMemberpru:FloatingRateDebtMembersrt:MaximumMember2024-12-310001137774us-gaap:MortgagesMemberpru:FloatingRateDebtMember2024-12-310001137774us-gaap:MortgagesMemberpru:FloatingRateDebtMember2023-12-310001137774srt:MinimumMemberus-gaap:JuniorSubordinatedDebtMember2024-12-310001137774srt:MaximumMemberus-gaap:JuniorSubordinatedDebtMember2024-12-310001137774us-gaap:JuniorSubordinatedDebtMember2024-12-310001137774us-gaap:JuniorSubordinatedDebtMember2023-12-310001137774pru:SubtotalLongtermDebtIncludingAssetsUnderSetOffArrangementsMember2024-12-310001137774pru:SubtotalLongtermDebtIncludingAssetsUnderSetOffArrangementsMember2023-12-310001137774pru:SomersetReSurplusNotesSubjectToSetOffArrangementsMember2024-12-310001137774us-gaap:ForeignCorporateDebtSecuritiesMemberus-gaap:MortgagesMemberpru:FloatingRateDebtMember2024-12-310001137774us-gaap:ForeignCorporateDebtSecuritiesMemberus-gaap:MortgagesMemberpru:FloatingRateDebtMember2023-12-310001137774srt:ParentCompanyMemberus-gaap:JuniorSubordinatedDebtMember2024-12-310001137774srt:SubsidiariesMemberus-gaap:JuniorSubordinatedDebtMember2024-12-310001137774us-gaap:SeniorNotesMember2017-01-012017-12-310001137774us-gaap:MediumTermNotesMember2024-12-310001137774us-gaap:MediumTermNotesMember2023-12-310001137774us-gaap:SeniorNotesMember2024-12-310001137774us-gaap:SeniorNotesMember2023-12-310001137774pru:RetailMediumTermNoteMember2024-12-310001137774pru:RetailMediumTermNoteMember2023-12-310001137774us-gaap:MortgagesMemberus-gaap:SeniorNotesMember2024-12-310001137774us-gaap:MortgagesMemberus-gaap:SeniorNotesMember2023-12-310001137774us-gaap:MediumTermNotesMemberus-gaap:SeniorNotesMember2024-12-310001137774us-gaap:MediumTermNotesMemberus-gaap:SeniorNotesMember2023-12-310001137774pru:FixedRateSurplusNotesMembersrt:ParentCompanyMemberpru:FloatingRateDebtMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsDue2044Memberpru:CaptiveReinsuranceSubsidiaryMemberpru:RegulationXXXMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsDue2044Memberpru:CaptiveReinsuranceSubsidiaryMemberpru:RegulationXXXMember2023-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberpru:CaptiveReinsuranceSubsidiaryMemberpru:RegulationXXXMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberpru:CaptiveReinsuranceSubsidiaryMemberpru:RegulationXXXMember2023-12-310001137774us-gaap:SubordinatedDebtMemberpru:CaptiveReinsuranceSubsidiaryMemberpru:RegulationXXXMember2024-12-310001137774us-gaap:SubordinatedDebtMemberpru:CaptiveReinsuranceSubsidiaryMemberpru:RegulationXXXMember2023-12-310001137774pru:FloatingratedebtsurplusnotessubjecttosetoffarrangementsMember1Memberpru:CaptiveReinsuranceSubsidiaryMemberpru:RegulationXXXMember2024-12-310001137774pru:FloatingratedebtsurplusnotessubjecttosetoffarrangementsMember1Memberpru:CaptiveReinsuranceSubsidiaryMemberpru:RegulationXXXMember2023-12-310001137774pru:SomersetReSurplusNotesSubjectToSetOffArrangementsMemberpru:CaptiveReinsuranceSubsidiaryMemberpru:GuidelineAXXXMember2024-12-310001137774pru:SomersetReSurplusNotesSubjectToSetOffArrangementsMemberpru:CaptiveReinsuranceSubsidiaryMemberpru:GuidelineAXXXMember2023-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberpru:CaptiveReinsuranceSubsidiaryMemberpru:GuidelineAXXXMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberpru:CaptiveReinsuranceSubsidiaryMemberpru:GuidelineAXXXMember2023-12-310001137774pru:FloatingratedebtsurplusnotessubjecttosetoffarrangementsMember1Memberpru:CaptiveReinsuranceSubsidiaryMemberpru:GuidelineAXXXMember2024-12-310001137774pru:FloatingratedebtsurplusnotessubjecttosetoffarrangementsMember1Memberpru:CaptiveReinsuranceSubsidiaryMemberpru:GuidelineAXXXMember2023-12-310001137774pru:FloatingratedebtsurplusnotessubjecttosetoffarrangementsMember1Memberpru:PrudentialArizonaReinsuranceUniversalCompanyMember2024-12-310001137774pru:FloatingratedebtsurplusnotessubjecttosetoffarrangementsMember1Memberpru:PrudentialArizonaReinsuranceUniversalCompanyMember2023-12-310001137774pru:PrudentialLegacyInsuranceCompanyMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberpru:CaptiveReinsuranceSubsidiaryMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMemberpru:CaptiveReinsuranceSubsidiaryMember2023-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMember2024-12-310001137774pru:SurplusNotesSubjectToSetOffArrangementsMember2023-12-310001137774pru:JuniorSubordinatedRetailNotesMay2015Member2024-12-310001137774pru:JuniorSubordinatedRetailNotesMay2015Memberus-gaap:SecuredOvernightFinancingRateSofrMember2024-01-012024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesSeptember2017Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesSeptember2017Memberus-gaap:SecuredOvernightFinancingRateSofrMember2024-01-012024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesAugust2018Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesSeptember2018Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesSeptember2018Memberus-gaap:SecuredOvernightFinancingRateSofrMember2024-01-012024-12-310001137774pru:JuniorSubordinatedRetailNotesAugust2020413Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesAugust2020370Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesAugust2020370Memberus-gaap:UsTreasuryUstInterestRateMember2024-01-012024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesFebruary2022Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesFebruary2022Memberus-gaap:UsTreasuryUstInterestRateMember2024-01-012024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesAugust2022595Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesAugust2022600Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesAugust2022600Memberus-gaap:UsTreasuryUstInterestRateMember2024-01-012024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesFebruary2023Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesFebruary2023Memberus-gaap:UsTreasuryUstInterestRateMember2024-01-012024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesMarch2024Member2024-12-310001137774pru:JuniorSubordinatedInstitutionalNotesMarch2024Memberus-gaap:UsTreasuryUstInterestRateMember2024-01-012024-12-310001137774pru:LIBORToSOFRTenorSpreadAdjustmentForJuniorSubordinatedNotesMember2024-01-012024-12-310001137774us-gaap:JuniorSubordinatedDebtMembersrt:MinimumMember2024-01-012024-12-310001137774us-gaap:JuniorSubordinatedDebtMembersrt:MaximumMember2024-01-012024-12-310001137774us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2023-01-012023-12-310001137774us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2024-01-012024-12-310001137774us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2022-01-012022-12-310001137774pru:CurrentAndLongTermDebtMember2024-01-012024-12-310001137774pru:CurrentAndLongTermDebtMember2023-01-012023-12-310001137774pru:CurrentAndLongTermDebtMember2022-01-012022-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MaximumMember2024-01-012024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MinimumMember2024-01-012024-12-310001137774us-gaap:PensionPlansDefinedBenefitMember2023-12-310001137774us-gaap:PensionPlansDefinedBenefitMember2022-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-12-310001137774us-gaap:PensionPlansDefinedBenefitMember2024-01-012024-12-310001137774us-gaap:PensionPlansDefinedBenefitMember2023-01-012023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-01-012024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-01-012023-12-310001137774us-gaap:PensionPlansDefinedBenefitMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-12-310001137774pru:RabbiTrustMember2024-12-310001137774pru:RabbiTrustMember2023-12-310001137774pru:RabbiTrustMemberus-gaap:SegmentDiscontinuedOperationsMember2024-12-310001137774pru:RabbiTrustMemberus-gaap:SegmentDiscontinuedOperationsMember2023-12-310001137774us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2024-12-310001137774us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2023-12-310001137774us-gaap:ForeignPlanMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMember2022-01-012022-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2021-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2021-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2021-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2021-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2022-01-012022-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2022-01-012022-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2022-01-012022-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2022-01-012022-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2022-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2022-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2022-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2022-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2023-01-012023-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2023-01-012023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2023-01-012023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2023-01-012023-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2023-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2023-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2024-01-012024-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2024-01-012024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2024-01-012024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2024-01-012024-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMember2021-01-012021-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:RealEstateMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:RealEstateMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:RealEstateMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:RealEstateMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MinimumMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:MaximumMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:USTreasuryAndGovernmentMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:USTreasuryAndGovernmentMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:CorporateDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:AssetBackedSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:AssetBackedSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:CollateralizedMortgageObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:CollateralizedMortgageObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:CollateralizedLoanObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CollateralizedLoanObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:CollateralizedLoanObligationsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateSwapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:InterestRateSwapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateSwapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:InterestRateSwapMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:OtherInvestmentCompaniesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:OtherInvestmentCompaniesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CommonStockMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CommonStockMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CommonStockMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:CommonStockMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:CommonStockMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:CommonStockMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CommonStockMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:CommonStockMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:OtherDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:OtherDebtSecuritiesMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2024-12-310001137774us-gaap:FairValueInputsLevel2Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2024-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2024-12-310001137774srt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2024-12-310001137774us-gaap:FairValueInputsLevel1Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2023-12-310001137774us-gaap:FairValueInputsLevel2Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2023-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2023-12-310001137774srt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2023-12-310001137774us-gaap:FairValueInputsLevel1Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel2Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774srt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel1Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel2Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774srt:PartnershipInterestMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:HedgeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:HedgeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:HedgeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:HedgeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:HedgeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:HedgeFundsMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:PensionPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:PensionPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2024-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:PensionPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:PensionPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:PensionPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2023-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:SeparateAccountDebtSecurityMemberus-gaap:PensionPlansDefinedBenefitMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:SeparateAccountDebtSecurityMemberus-gaap:PensionPlansDefinedBenefitMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:DefinedBenefitPlanCommonCollectiveTrustMemberus-gaap:PensionPlansDefinedBenefitMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:DefinedBenefitPlanCommonCollectiveTrustMemberus-gaap:PensionPlansDefinedBenefitMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:NonUsMemberus-gaap:PensionPlansDefinedBenefitMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:NonUsMemberus-gaap:PensionPlansDefinedBenefitMember2023-12-310001137774us-gaap:PensionPlansDefinedBenefitMemberus-gaap:InterestRateSwapMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberpru:InternationalMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberpru:InternationalMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:PensionPlansDefinedBenefitMemberus-gaap:RealEstateMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateBondSecuritiesMember2022-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2022-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:RealEstateMember2022-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:OtherInvestmentsMember2022-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMemberus-gaap:OtherInvestmentsMember2022-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateBondSecuritiesMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:RealEstateMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:OtherInvestmentsMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMemberus-gaap:OtherInvestmentsMember2023-01-012023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateBondSecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:RealEstateMember2023-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMemberus-gaap:OtherInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateBondSecuritiesMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:RealEstateMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:OtherInvestmentsMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMemberus-gaap:OtherInvestmentsMember2024-01-012024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateBondSecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherDebtSecuritiesMemberus-gaap:FixedMaturitiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:RealEstateMember2024-12-310001137774us-gaap:FairValueInputsLevel3Membersrt:PartnershipInterestMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMemberus-gaap:OtherInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:DefinedBenefitPlanEquitySecuritiesUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2024-12-310001137774us-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2023-12-310001137774us-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DefinedBenefitPlanDebtSecurityMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2023-12-310001137774us-gaap:OtherInvestmentCompaniesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:ShortTermInvestmentsMember2023-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2024-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2024-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2024-12-310001137774us-gaap:FairValueInputsLevel1Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2023-12-310001137774us-gaap:FairValueInputsLevel2Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2023-12-310001137774us-gaap:FairValueInputsLevel3Memberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberpru:NetAssetsInTheFairValueHierarchyMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:FairValueMeasurementsRecurringMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:VariableLifeMember2024-12-310001137774us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:VariableLifeMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberpru:InternationalMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberpru:InternationalMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:EquitySecuritiesMember2023-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2024-12-310001137774us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMemberus-gaap:DebtSecuritiesMember2023-12-310001137774us-gaap:OtherLiabilitiesMember2024-12-310001137774us-gaap:OtherLiabilitiesMember2023-12-310001137774us-gaap:GeneralAndAdministrativeExpenseMember2024-01-012024-12-310001137774us-gaap:GeneralAndAdministrativeExpenseMember2023-01-012023-12-310001137774us-gaap:GeneralAndAdministrativeExpenseMember2022-01-012022-12-310001137774pru:CommonStockIssuableMember2021-12-310001137774pru:CommonStockHeldInTreasuryMember2021-12-310001137774pru:CommonStockOutstandingMember2021-12-310001137774pru:CommonStockIssuableMember2022-01-012022-12-310001137774pru:CommonStockHeldInTreasuryMember2022-01-012022-12-310001137774pru:CommonStockOutstandingMember2022-01-012022-12-310001137774pru:CommonStockIssuableMember2022-12-310001137774pru:CommonStockHeldInTreasuryMember2022-12-310001137774pru:CommonStockOutstandingMember2022-12-310001137774pru:CommonStockIssuableMember2023-01-012023-12-310001137774pru:CommonStockHeldInTreasuryMember2023-01-012023-12-310001137774pru:CommonStockOutstandingMember2023-01-012023-12-310001137774pru:CommonStockIssuableMember2023-12-310001137774pru:CommonStockHeldInTreasuryMember2023-12-310001137774pru:CommonStockOutstandingMember2023-12-310001137774pru:CommonStockIssuableMember2024-01-012024-12-310001137774pru:CommonStockHeldInTreasuryMember2024-01-012024-12-310001137774pru:CommonStockOutstandingMember2024-01-012024-12-310001137774pru:CommonStockIssuableMember2024-12-310001137774pru:CommonStockHeldInTreasuryMember2024-12-310001137774pru:CommonStockOutstandingMember2024-12-310001137774pru:UnderDecember2024BoardOfDirectorsAuthorizationMember2024-12-100001137774pru:UnderDecember2023BoardOfDirectorsAuthorizationMember2023-12-110001137774pru:UnderFebruary2023BoardOfDirectorsAuthorizationMember2023-12-310001137774pru:UnderNovember2021BoardOfDirectorsAuthorizationMember2022-12-310001137774pru:UnderDecember2023BoardOfDirectorsAuthorizationMemberus-gaap:CommonStockMember2024-01-012024-12-310001137774pru:UnderFebruary2023BoardOfDirectorsAuthorizationMemberus-gaap:CommonStockMember2023-01-012023-12-310001137774pru:UnderNovember2021BoardOfDirectorsAuthorizationMemberus-gaap:CommonStockMember2022-01-012022-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMember2021-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-12-310001137774us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2021-12-310001137774pru:AOCIMarketRiskBenefitInstrumentSpecificCreditRiskMember2021-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMember2022-01-012022-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-12-310001137774us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2022-01-012022-12-310001137774pru:AOCIMarketRiskBenefitInstrumentSpecificCreditRiskMember2022-01-012022-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMember2022-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310001137774us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2022-12-310001137774pru:AOCIMarketRiskBenefitInstrumentSpecificCreditRiskMember2022-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMember2023-01-012023-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-12-310001137774us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2023-01-012023-12-310001137774pru:AOCIMarketRiskBenefitInstrumentSpecificCreditRiskMember2023-01-012023-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMember2023-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310001137774us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2023-12-310001137774pru:AOCIMarketRiskBenefitInstrumentSpecificCreditRiskMember2023-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMember2024-01-012024-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-12-310001137774us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2024-01-012024-12-310001137774pru:AOCIMarketRiskBenefitInstrumentSpecificCreditRiskMember2024-01-012024-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMember2024-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-12-310001137774us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2024-12-310001137774pru:AOCIMarketRiskBenefitInstrumentSpecificCreditRiskMember2024-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:CashFlowHedgingMember2024-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:CashFlowHedgingMember2023-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:CashFlowHedgingMember2022-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:FairValueHedgingMember2024-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:FairValueHedgingMember2023-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:FairValueHedgingMember2022-12-310001137774us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:AccumulatedTranslationAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:InterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:CashFlowHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:ForeignExchangeContractMemberus-gaap:FairValueHedgingMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-310001137774us-gaap:AccumulatedOtherComprehensiveIncomeMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310001137774pru:NetUnrealizedInvestmentGainLossOnAFSFixedMaturitySecuritiesWithAllowancePreTaxMember2021-12-310001137774pru:AccumulatedNetUnrealizedInvestmentGainLossPreTaxMember2021-12-310001137774pru:DeferredCostsPolicyAcquisitionAndSalesInducementsAndValuationOfBusinessAcquiredPreTaxMember2021-12-310001137774pru:FuturePolicyBenefitsPreTaxMember2021-12-310001137774pru:PolicyholdersDividendsPreTaxMember2021-12-310001137774pru:DeferredIncomeTaxLiabilityBenefitMember2021-12-310001137774pru:NetUnrealizedInvestmentGainLossOnAFSFixedMaturitySecuritiesWithAllowancePreTaxMember2022-01-012022-12-310001137774pru:AccumulatedNetUnrealizedInvestmentGainLossPreTaxMember2022-01-012022-12-310001137774pru:DeferredIncomeTaxLiabilityBenefitMember2022-01-012022-12-310001137774pru:DeferredCostsPolicyAcquisitionAndSalesInducementsAndValuationOfBusinessAcquiredPreTaxMember2022-01-012022-12-310001137774pru:FuturePolicyBenefitsPreTaxMember2022-01-012022-12-310001137774pru:PolicyholdersDividendsPreTaxMember2022-01-012022-12-310001137774pru:NetUnrealizedInvestmentGainLossOnAFSFixedMaturitySecuritiesWithAllowancePreTaxMember2022-12-310001137774pru:AccumulatedNetUnrealizedInvestmentGainLossPreTaxMember2022-12-310001137774pru:DeferredCostsPolicyAcquisitionAndSalesInducementsAndValuationOfBusinessAcquiredPreTaxMember2022-12-310001137774pru:FuturePolicyBenefitsPreTaxMember2022-12-310001137774pru:PolicyholdersDividendsPreTaxMember2022-12-310001137774pru:DeferredIncomeTaxLiabilityBenefitMember2022-12-310001137774pru:NetUnrealizedInvestmentGainLossOnAFSFixedMaturitySecuritiesWithAllowancePreTaxMember2023-01-012023-12-310001137774pru:AccumulatedNetUnrealizedInvestmentGainLossPreTaxMember2023-01-012023-12-310001137774pru:DeferredIncomeTaxLiabilityBenefitMember2023-01-012023-12-310001137774pru:DeferredCostsPolicyAcquisitionAndSalesInducementsAndValuationOfBusinessAcquiredPreTaxMember2023-01-012023-12-310001137774pru:FuturePolicyBenefitsPreTaxMember2023-01-012023-12-310001137774pru:PolicyholdersDividendsPreTaxMember2023-01-012023-12-310001137774pru:NetUnrealizedInvestmentGainLossOnAFSFixedMaturitySecuritiesWithAllowancePreTaxMember2023-12-310001137774pru:AccumulatedNetUnrealizedInvestmentGainLossPreTaxMember2023-12-310001137774pru:DeferredCostsPolicyAcquisitionAndSalesInducementsAndValuationOfBusinessAcquiredPreTaxMember2023-12-310001137774pru:FuturePolicyBenefitsPreTaxMember2023-12-310001137774pru:PolicyholdersDividendsPreTaxMember2023-12-310001137774pru:DeferredIncomeTaxLiabilityBenefitMember2023-12-310001137774pru:NetUnrealizedInvestmentGainLossOnAFSFixedMaturitySecuritiesWithAllowancePreTaxMember2024-01-012024-12-310001137774pru:AccumulatedNetUnrealizedInvestmentGainLossPreTaxMember2024-01-012024-12-310001137774pru:DeferredIncomeTaxLiabilityBenefitMember2024-01-012024-12-310001137774pru:DeferredCostsPolicyAcquisitionAndSalesInducementsAndValuationOfBusinessAcquiredPreTaxMember2024-01-012024-12-310001137774pru:FuturePolicyBenefitsPreTaxMember2024-01-012024-12-310001137774pru:PolicyholdersDividendsPreTaxMember2024-01-012024-12-310001137774pru:NetUnrealizedInvestmentGainLossOnAFSFixedMaturitySecuritiesWithAllowancePreTaxMember2024-12-310001137774pru:AccumulatedNetUnrealizedInvestmentGainLossPreTaxMember2024-12-310001137774pru:DeferredCostsPolicyAcquisitionAndSalesInducementsAndValuationOfBusinessAcquiredPreTaxMember2024-12-310001137774pru:FuturePolicyBenefitsPreTaxMember2024-12-310001137774pru:PolicyholdersDividendsPreTaxMember2024-12-310001137774pru:DeferredIncomeTaxLiabilityBenefitMember2024-12-310001137774pru:PrudentialInsuranceMember2024-01-012024-12-310001137774pru:PrudentialInsuranceMember2023-01-012023-12-310001137774pru:PrudentialInsuranceMember2022-01-012022-12-310001137774pru:PrudentialInsuranceMember2024-12-310001137774pru:PrudentialInsuranceMember2023-12-310001137774pru:PrudentialInsuranceMember2022-12-310001137774pru:PermittedToBePaidIn2025Memberpru:PrudentialInsuranceMember2024-12-310001137774pru:PermittedToBePaidAfterMarch282025Memberpru:PrudentialInsuranceMember2024-12-310001137774pru:PermittedToBePaidAfterJune272025Memberpru:PrudentialInsuranceMember2024-12-310001137774pru:PermittedToBePaidAfterDecember272025Memberpru:PrudentialInsuranceMember2024-12-310001137774pru:GibraltarLifeMember2024-12-310001137774pru:PrudentialLifeInsuranceJapanMember2024-12-310001137774pru:PrudentialLifeInsuranceJapanMember2023-12-310001137774pru:PrudentialInternationalInsuranceHoldingsMember2024-01-012024-12-310001137774pru:PrudentialInternationalInsuranceHoldingsSomersetReMember2024-01-012024-12-310001137774pru:AntidilutivestockoptionsbasedonapplicationofthetreasurystockmethodMember2024-01-012024-12-310001137774pru:AntidilutivestockoptionsbasedonapplicationofthetreasurystockmethodMember2023-01-012023-12-310001137774pru:AntidilutivestockoptionsbasedonapplicationofthetreasurystockmethodMember2022-01-012022-12-310001137774pru:AntidilutivestockoptionsduetonetlossavailabletoholdersofCommonStockMember2024-01-012024-12-310001137774pru:AntidilutivestockoptionsduetonetlossavailabletoholdersofCommonStockMember2023-01-012023-12-310001137774pru:AntidilutivestockoptionsduetonetlossavailabletoholdersofCommonStockMember2022-01-012022-12-310001137774pru:AntidilutivesharesbasedonapplicationofthetreasurystockmethodMember2024-01-012024-12-310001137774pru:AntidilutivesharesbasedonapplicationofthetreasurystockmethodMember2023-01-012023-12-310001137774pru:AntidilutivesharesbasedonapplicationofthetreasurystockmethodMember2022-01-012022-12-310001137774pru:EmployeeAndNonEmployeeRestrictedStockSharesRestrictedStockUnitsPerformanceSharesAndPerformanceUnitsMember2024-01-012024-12-310001137774pru:EmployeeAndNonEmployeeRestrictedStockSharesRestrictedStockUnitsPerformanceSharesAndPerformanceUnitsMember2023-01-012023-12-310001137774pru:EmployeeAndNonEmployeeRestrictedStockSharesRestrictedStockUnitsPerformanceSharesAndPerformanceUnitsMember2022-01-012022-12-310001137774pru:OmnibusIncentivePlanMember2024-12-310001137774us-gaap:EmployeeStockOptionMember2024-01-012024-12-310001137774us-gaap:EmployeeStockOptionMember2023-01-012023-12-310001137774us-gaap:EmployeeStockOptionMember2022-01-012022-12-310001137774pru:EmployeeRestrictedStockUnitsMember2024-01-012024-12-310001137774pru:EmployeeRestrictedStockUnitsMember2023-01-012023-12-310001137774pru:EmployeeRestrictedStockUnitsMember2022-01-012022-12-310001137774pru:EmployeePerformanceSharesAndUnitsMember2024-01-012024-12-310001137774pru:EmployeePerformanceSharesAndUnitsMember2023-01-012023-12-310001137774pru:EmployeePerformanceSharesAndUnitsMember2022-01-012022-12-310001137774pru:EmployeePerformanceSharesAndUnitsMember2024-01-102024-01-100001137774pru:EmployeePerformanceSharesAndUnitsMemberus-gaap:SubsequentEventMembersrt:ScenarioForecastMember2025-01-012025-03-310001137774pru:EmployeePerformanceSharesAndUnitsMemberus-gaap:SubsequentEventMembersrt:ScenarioForecastMember2025-01-102025-12-100001137774us-gaap:EmployeeStockOptionMemberpru:AssuranceIQMember2024-01-012024-12-310001137774us-gaap:EmployeeStockOptionMemberpru:AssuranceIQMember2023-01-012023-12-310001137774us-gaap:EmployeeStockOptionMemberpru:AssuranceIQMember2022-01-012022-12-310001137774pru:EmployeeRestrictedStockUnitsMemberpru:AssuranceIQMember2024-01-012024-12-310001137774pru:EmployeeRestrictedStockUnitsMemberpru:AssuranceIQMember2023-01-012023-12-310001137774pru:EmployeeRestrictedStockUnitsMemberpru:AssuranceIQMember2022-01-012022-12-310001137774pru:EmployeePerformanceSharesAndUnitsMemberpru:AssuranceIQMember2024-01-012024-12-310001137774pru:EmployeePerformanceSharesAndUnitsMemberpru:AssuranceIQMember2023-01-012023-12-310001137774pru:EmployeePerformanceSharesAndUnitsMemberpru:AssuranceIQMember2022-01-012022-12-310001137774pru:AssuranceIQMember2024-01-012024-12-310001137774pru:AssuranceIQMember2023-01-012023-12-310001137774pru:AssuranceIQMember2022-01-012022-12-310001137774us-gaap:EmployeeStockOptionMember2023-12-310001137774us-gaap:EmployeeStockOptionMemberpru:AssuranceIQMember2023-12-310001137774us-gaap:EmployeeStockOptionMember2024-12-310001137774us-gaap:EmployeeStockOptionMemberpru:AssuranceIQMember2024-12-310001137774pru:EmployeeRestrictedStockUnitsMember2023-12-310001137774pru:EmployeePerformanceSharesAndUnitsMember2023-12-310001137774pru:EmployeeRestrictedStockUnitsMember2024-12-310001137774pru:EmployeePerformanceSharesAndUnitsMember2024-12-310001137774srt:MinimumMember2024-01-012024-12-310001137774srt:MaximumMember2024-01-012024-12-310001137774pru:EmployeeRestrictedStockUnitsMemberpru:AssuranceIQMember2023-12-310001137774pru:EmployeeRestrictedStockUnitsMemberpru:AssuranceIQMember2024-12-310001137774pru:EmployeeRestrictedStockRestrictedUnitsAndPerformanceSharesMember2024-01-012024-12-310001137774pru:EmployeeRestrictedStockRestrictedUnitsAndPerformanceSharesMember2023-01-012023-12-310001137774pru:EmployeeRestrictedStockRestrictedUnitsAndPerformanceSharesMember2022-01-012022-12-310001137774pru:EmployeeRestrictedStockRestrictedUnitsAndPerformanceSharesMemberpru:AssuranceIQMember2024-01-012024-12-310001137774pru:EmployeeRestrictedStockRestrictedUnitsAndPerformanceSharesMemberpru:AssuranceIQMember2023-01-012023-12-310001137774pru:EmployeeRestrictedStockRestrictedUnitsAndPerformanceSharesMemberpru:AssuranceIQMember2022-01-012022-12-310001137774pru:OmnibusIncentivePlanMember2024-12-310001137774pru:EmployeeRestrictedStockRestrictedUnitsAndPerformanceSharesMember2024-12-310001137774pru:AssuranceIQMember2024-12-310001137774us-gaap:EmployeeStockOptionMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2024-01-012024-12-310001137774us-gaap:EmployeeStockOptionMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2024-01-012024-12-310001137774us-gaap:EmployeeStockOptionMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2024-01-012024-12-310001137774pru:EmployeeRestrictedStockUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2024-01-012024-12-310001137774pru:EmployeeRestrictedStockUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2024-01-012024-12-310001137774pru:EmployeeRestrictedStockUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2024-01-012024-12-310001137774us-gaap:MaterialReconcilingItemsMember2024-01-012024-12-310001137774us-gaap:MaterialReconcilingItemsMember2023-01-012023-12-310001137774us-gaap:MaterialReconcilingItemsMember2022-01-012022-12-310001137774us-gaap:OperatingSegmentsMemberpru:PGIMDivisionMemberpru:PGIM1Member2024-01-012024-12-310001137774pru:InstitutionalRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:IndividualRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:GroupInsuranceMember2024-01-012024-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:U.S.BusinessesMemberus-gaap:OperatingSegmentsMember2024-01-012024-12-310001137774pru:LifePlannerMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:GibraltarLifeAndOtherMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMemberpru:InternationalBusinessesMember2024-01-012024-12-310001137774pru:InternationalBusinessesMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMember2024-01-012024-12-310001137774us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:CorporateAndOtherMember2024-01-012024-12-310001137774us-gaap:OperatingSegmentsMember2024-01-012024-12-310001137774pru:SegmentReconcilingItemsRealizedInvestmentGainsLossesAndRelatedChargesAndAdjustmentsMember2024-01-012024-12-310001137774pru:SegmentReconcilingItemsChangeInValueOfMarketRiskBenefitsNetOfRelatedHedgingGainsLossesMember2024-01-012024-12-310001137774pru:SegmentReconcilingItemsMarketExperienceUpdatesMember2024-01-012024-12-310001137774pru:SegmentReconcilingItemsClosedBlockDivisionMember2024-01-012024-12-310001137774pru:SegmentReconcilingItemsOtherDivestedAndRunOffBusinessMember2024-01-012024-12-310001137774pru:SegmentReconcilingItemsOperatingJointVenturesAndNoncontrollingInterestsMember2024-01-012024-12-310001137774pru:SegmentReconcilingItemsOtherAdjustmentsMember2024-01-012024-12-310001137774us-gaap:OperatingSegmentsMemberpru:PGIMDivisionMemberpru:PGIM1Member2023-01-012023-12-310001137774pru:InstitutionalRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:IndividualRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:GroupInsuranceMember2023-01-012023-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:U.S.BusinessesMemberus-gaap:OperatingSegmentsMember2023-01-012023-12-310001137774pru:LifePlannerMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:GibraltarLifeAndOtherMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMemberpru:InternationalBusinessesMember2023-01-012023-12-310001137774pru:InternationalBusinessesMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMember2023-01-012023-12-310001137774us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:CorporateAndOtherMember2023-01-012023-12-310001137774us-gaap:OperatingSegmentsMember2023-01-012023-12-310001137774pru:SegmentReconcilingItemsRealizedInvestmentGainsLossesAndRelatedChargesAndAdjustmentsMember2023-01-012023-12-310001137774pru:SegmentReconcilingItemsChangeInValueOfMarketRiskBenefitsNetOfRelatedHedgingGainsLossesMember2023-01-012023-12-310001137774pru:SegmentReconcilingItemsMarketExperienceUpdatesMember2023-01-012023-12-310001137774pru:SegmentReconcilingItemsClosedBlockDivisionMember2023-01-012023-12-310001137774pru:SegmentReconcilingItemsOtherDivestedAndRunOffBusinessMember2023-01-012023-12-310001137774pru:SegmentReconcilingItemsOperatingJointVenturesAndNoncontrollingInterestsMember2023-01-012023-12-310001137774pru:SegmentReconcilingItemsOtherAdjustmentsMember2023-01-012023-12-310001137774us-gaap:OperatingSegmentsMemberpru:PGIMDivisionMemberpru:PGIM1Member2022-01-012022-12-310001137774pru:InstitutionalRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:IndividualRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:GroupInsuranceMember2022-01-012022-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:U.S.BusinessesMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310001137774pru:LifePlannerMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:GibraltarLifeAndOtherMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMemberpru:InternationalBusinessesMember2022-01-012022-12-310001137774pru:InternationalBusinessesMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMember2022-01-012022-12-310001137774us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:CorporateAndOtherMember2022-01-012022-12-310001137774us-gaap:OperatingSegmentsMember2022-01-012022-12-310001137774pru:SegmentReconcilingItemsRealizedInvestmentGainsLossesAndRelatedChargesAndAdjustmentsMember2022-01-012022-12-310001137774pru:SegmentReconcilingItemsChangeInValueOfMarketRiskBenefitsNetOfRelatedHedgingGainsLossesMember2022-01-012022-12-310001137774pru:SegmentReconcilingItemsMarketExperienceUpdatesMember2022-01-012022-12-310001137774pru:SegmentReconcilingItemsClosedBlockDivisionMember2022-01-012022-12-310001137774pru:SegmentReconcilingItemsOtherDivestedAndRunOffBusinessMember2022-01-012022-12-310001137774pru:SegmentReconcilingItemsOperatingJointVenturesAndNoncontrollingInterestsMember2022-01-012022-12-310001137774pru:SegmentReconcilingItemsOtherAdjustmentsMember2022-01-012022-12-310001137774us-gaap:OperatingSegmentsMemberpru:PGIMDivisionMemberpru:PGIM1Member2024-12-310001137774us-gaap:OperatingSegmentsMemberpru:PGIMDivisionMemberpru:PGIM1Member2023-12-310001137774pru:InstitutionalRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2024-12-310001137774pru:InstitutionalRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2023-12-310001137774pru:IndividualRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2024-12-310001137774pru:IndividualRetirementStrategiesMemberus-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2023-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2024-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2023-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:GroupInsuranceMember2024-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:GroupInsuranceMember2023-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:IndividualLifeMember2024-12-310001137774us-gaap:OperatingSegmentsMemberpru:USBusinessesDivisionMemberpru:IndividualLifeMember2023-12-310001137774pru:U.S.BusinessesMemberus-gaap:OperatingSegmentsMember2024-12-310001137774pru:U.S.BusinessesMemberus-gaap:OperatingSegmentsMember2023-12-310001137774pru:InternationalBusinessesMemberpru:LifePlannerMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMember2024-12-310001137774pru:InternationalBusinessesMemberpru:LifePlannerMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMember2023-12-310001137774pru:InternationalBusinessesMemberpru:GibraltarLifeAndOtherMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMember2024-12-310001137774pru:InternationalBusinessesMemberpru:GibraltarLifeAndOtherMemberus-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMember2023-12-310001137774us-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMember2024-12-310001137774us-gaap:OperatingSegmentsMemberpru:InternationalInsuranceDivisionMember2023-12-310001137774us-gaap:MaterialReconcilingItemsMemberus-gaap:CorporateAndOtherMember2024-12-310001137774us-gaap:MaterialReconcilingItemsMemberus-gaap:CorporateAndOtherMember2023-12-310001137774us-gaap:MaterialReconcilingItemsMemberpru:TotalClosedBlockdivisionMember2024-12-310001137774us-gaap:MaterialReconcilingItemsMemberpru:TotalClosedBlockdivisionMember2023-12-310001137774country:US2024-01-012024-12-310001137774country:US2023-01-012023-12-310001137774country:US2022-01-012022-12-310001137774country:JP2024-01-012024-12-310001137774country:JP2023-01-012023-12-310001137774country:JP2022-01-012022-12-310001137774pru:NonUSAndExcludingJapanDomain2024-01-012024-12-310001137774pru:NonUSAndExcludingJapanDomain2023-01-012023-12-310001137774pru:NonUSAndExcludingJapanDomain2022-01-012022-12-310001137774us-gaap:IntersegmentEliminationMemberpru:PGIM1Member2024-01-012024-12-310001137774us-gaap:IntersegmentEliminationMemberpru:PGIM1Member2023-01-012023-12-310001137774us-gaap:IntersegmentEliminationMemberpru:PGIM1Member2022-01-012022-12-310001137774us-gaap:ManagementServiceBaseMember2024-01-012024-12-310001137774us-gaap:ManagementServiceBaseMember2023-01-012023-12-310001137774us-gaap:ManagementServiceBaseMember2022-01-012022-12-310001137774us-gaap:ManagementServiceIncentiveMember2024-01-012024-12-310001137774us-gaap:ManagementServiceIncentiveMember2023-01-012023-12-310001137774us-gaap:ManagementServiceIncentiveMember2022-01-012022-12-310001137774us-gaap:FinancialServiceOtherMember2024-01-012024-12-310001137774us-gaap:FinancialServiceOtherMember2023-01-012023-12-310001137774us-gaap:FinancialServiceOtherMember2022-01-012022-12-310001137774pru:PrismicHoldCoMemberus-gaap:RelatedPartyMember2023-09-300001137774us-gaap:RelatedPartyMember2023-09-300001137774us-gaap:RelatedPartyMember2024-12-310001137774us-gaap:RelatedPartyMember2023-12-310001137774us-gaap:RelatedPartyMember2024-01-012024-12-310001137774us-gaap:RelatedPartyMember2023-01-012023-12-310001137774us-gaap:CommitmentsMemberus-gaap:CommercialLoanMember2024-12-310001137774us-gaap:CommitmentsMemberus-gaap:CommercialLoanMember2023-12-310001137774us-gaap:CommitmentsMemberus-gaap:CommercialLoanMember2024-01-012024-12-310001137774us-gaap:CommitmentsMemberus-gaap:CommercialLoanMember2023-01-012023-12-310001137774pru:ExpectedtobefundedfromthegeneralaccountandotheroperationsoutsidetheseparateaccountsMember2024-12-310001137774pru:ExpectedtobefundedfromthegeneralaccountandotheroperationsoutsidetheseparateaccountsMember2023-12-310001137774pru:ExpectedtobefundedfromseparateaccountsMember2024-12-310001137774pru:ExpectedtobefundedfromseparateaccountsMember2023-12-310001137774us-gaap:PurchaseCommitmentMember2024-01-012024-12-310001137774us-gaap:PurchaseCommitmentMember2023-01-012023-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:SecuritiesFinancingTransactionFairValueMember2024-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:SecuritiesFinancingTransactionFairValueMember2023-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:RepurchaseAgreementsMember2024-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:RepurchaseAgreementsMember2023-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:SecuritiesFinancingTransactionFairValueMember2024-01-012024-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:RepurchaseAgreementsMember2024-01-012024-12-310001137774us-gaap:MarketValueGuaranteeMember2024-12-310001137774us-gaap:MarketValueGuaranteeMember2023-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:MortgagesMember2024-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:MortgagesMember2023-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:MortgagesMember2024-01-012024-12-310001137774us-gaap:IndemnificationGuaranteeMemberus-gaap:MortgagesMember2023-01-012023-12-310001137774us-gaap:IndemnificationGuaranteeMembersrt:MinimumMemberus-gaap:MortgagesMember2024-01-012024-12-310001137774us-gaap:IndemnificationGuaranteeMembersrt:MaximumMemberus-gaap:MortgagesMember2024-01-012024-12-310001137774us-gaap:GuaranteeTypeOtherMember2024-12-310001137774us-gaap:GuaranteeTypeOtherMember2023-12-310001137774us-gaap:StandbyLettersOfCreditMember2024-12-310001137774pru:StandbyUncommittedLettersOfCreditMember2024-12-310001137774pru:TotalAssetRecoveryServicesLLCv.MetLifeInc.andPrudentialMemberus-gaap:PendingLitigationMember2017-12-012017-12-310001137774us-gaap:PendingLitigationMemberpru:PrudentialInvestmentPortfolio2FkaDrydenCoreInvestmentFundOboPrudentialCoreShortTermBondFundAndPrudentialCoreTaxableMoneyMarketFundVBankOfAmericaCorporationEtAlDomainus-gaap:PositiveOutcomeOfLitigationMember2014-05-310001137774pru:CitigroupInc.CitibankN.A.CitigroupFundingInc.AndCitigroupGlobalMarketsInc.Member2019-06-012019-06-300001137774pru:HSBCHoldingsPLCHSBCBankPLCHSBCFinanceCorp.HSBCSecuritiesUSAInc.AndHSBCUSAInc.Member2019-12-012019-12-310001137774pru:BarclaysBankPLCBarclaysCapitalInc.AndBarclaysPLCMember2020-05-012020-05-310001137774pru:DeutscheBankAGMember2020-08-012020-08-310001137774us-gaap:SubsequentEventMember2025-02-042025-02-0400011377742024-10-012024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:USTreasuryAndGovernmentMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:ForeignGovernmentDebtMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:AssetBackedSecuritiesMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:PublicUtilityBondsMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:AllOtherCorporateBondsMember2024-12-310001137774us-gaap:FixedMaturitiesMemberus-gaap:AvailableforsaleSecuritiesMemberus-gaap:RedeemablePreferredStockMember2024-12-310001137774us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FixedMaturitiesMember2024-12-310001137774us-gaap:CommonStockMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:MutualFundMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:NonredeemablePreferredStockMemberus-gaap:EquitySecuritiesMember2024-12-310001137774us-gaap:PreferredStockMemberus-gaap:EquitySecuritiesMember2024-12-310001137774pru:TradingMemberus-gaap:FixedMaturitiesMember2024-12-310001137774pru:CommercialmortgageandagriculturalpropertiesloansandothercollateralizedloansMember2024-12-310001137774us-gaap:UncollateralizedMember2024-12-310001137774srt:ParentCompanyMember2024-01-012024-12-310001137774srt:ParentCompanyMember2023-01-012023-12-310001137774srt:ParentCompanyMember2022-01-012022-12-310001137774srt:ParentCompanyMember2022-12-310001137774srt:ParentCompanyMember2021-12-310001137774pru:IndividualAnnuitiesPALACMember2022-01-012022-12-310001137774pru:RetirementFullServiceMember2022-01-012022-12-310001137774us-gaap:LongTermDebtMembersrt:ParentCompanyMember2024-12-310001137774us-gaap:LongTermDebtMembersrt:ParentCompanyMember2023-12-310001137774us-gaap:SeniorNotesMembersrt:ParentCompanyMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MinimumMember2024-12-310001137774us-gaap:SeniorNotesMembersrt:ParentCompanyMemberus-gaap:FederalFundsEffectiveSwapRateMembersrt:MaximumMember2024-12-310001137774us-gaap:SeniorNotesMembersrt:ParentCompanyMemberus-gaap:FederalFundsEffectiveSwapRateMember2024-12-310001137774us-gaap:SeniorNotesMembersrt:ParentCompanyMemberus-gaap:FederalFundsEffectiveSwapRateMember2023-12-310001137774us-gaap:JuniorSubordinatedDebtMembersrt:ParentCompanyMembersrt:MinimumMember2024-12-310001137774us-gaap:JuniorSubordinatedDebtMembersrt:ParentCompanyMembersrt:MaximumMember2024-12-310001137774us-gaap:JuniorSubordinatedDebtMembersrt:ParentCompanyMember2024-12-310001137774us-gaap:JuniorSubordinatedDebtMembersrt:ParentCompanyMember2023-12-310001137774srt:ParentCompanyMemberus-gaap:DerivativeMember2023-01-012023-12-310001137774srt:ParentCompanyMemberus-gaap:DerivativeMember2022-01-012022-12-310001137774srt:ParentCompanyMemberus-gaap:DerivativeMember2024-01-012024-12-310001137774srt:ParentCompanyMemberpru:PrudentialAnnuitiesHoldingCompanyMember2024-01-012024-12-310001137774srt:ParentCompanyMemberpru:PrudentialAnnuitiesHoldingCompanyMember2023-01-012023-12-310001137774srt:ParentCompanyMemberpru:PrudentialAnnuitiesHoldingCompanyMember2022-01-012022-12-310001137774srt:ParentCompanyMemberpru:InternationalInsuranceAndInvestmentsHoldingCompaniesMember2024-01-012024-12-310001137774srt:ParentCompanyMemberpru:InternationalInsuranceAndInvestmentsHoldingCompaniesMember2023-01-012023-12-310001137774srt:ParentCompanyMemberpru:InternationalInsuranceAndInvestmentsHoldingCompaniesMember2022-01-012022-12-310001137774srt:ParentCompanyMemberpru:PrudentialInsuranceMember2024-01-012024-12-310001137774srt:ParentCompanyMemberpru:PrudentialInsuranceMember2023-01-012023-12-310001137774srt:ParentCompanyMemberpru:PrudentialInsuranceMember2022-01-012022-12-310001137774srt:ParentCompanyMemberpru:PrudentialAssetManagementHoldingCompanyMember2024-01-012024-12-310001137774srt:ParentCompanyMemberpru:PrudentialAssetManagementHoldingCompanyMember2023-01-012023-12-310001137774srt:ParentCompanyMemberpru:PrudentialAssetManagementHoldingCompanyMember2022-01-012022-12-310001137774srt:ParentCompanyMemberpru:PrudentialAnnuitiesLifeAssuranceCorporationMember2024-01-012024-12-310001137774srt:ParentCompanyMemberpru:PrudentialAnnuitiesLifeAssuranceCorporationMember2023-01-012023-12-310001137774srt:ParentCompanyMemberpru:PrudentialAnnuitiesLifeAssuranceCorporationMember2022-01-012022-12-310001137774srt:ParentCompanyMemberpru:OtherHoldingCompaniesMember2024-01-012024-12-310001137774srt:ParentCompanyMemberpru:OtherHoldingCompaniesMember2023-01-012023-12-310001137774srt:ParentCompanyMemberpru:OtherHoldingCompaniesMember2022-01-012022-12-310001137774pru:PrudentialRetirementInsuranceandAnnuityCompanyPRIACMember2022-01-012022-12-310001137774pru:PrudentialAnnuitiesLifeAssuranceCorporationMember2022-01-012022-12-310001137774pru:RabbiTrustMember2023-01-012023-12-310001137774us-gaap:CommercialPaperMembersrt:ParentCompanyMember2024-12-310001137774us-gaap:DebtMembersrt:ParentCompanyMember2024-12-310001137774us-gaap:CommitmentsToExtendCreditMembersrt:ParentCompanyMember2013-12-310001137774pru:PGIMDivisionMemberpru:PGIM1Member2024-12-310001137774pru:PGIMDivisionMemberpru:PGIM1Member2024-01-012024-12-310001137774pru:USBusinessesDivisionMemberpru:InstitutionalRetirementStrategiesMember2024-12-310001137774pru:USBusinessesDivisionMemberpru:InstitutionalRetirementStrategiesMember2024-01-012024-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualRetirementStrategiesMember2024-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualRetirementStrategiesMember2024-01-012024-12-310001137774pru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2024-12-310001137774pru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2024-01-012024-12-310001137774pru:USBusinessesDivisionMemberpru:GroupInsuranceMember2024-12-310001137774pru:USBusinessesDivisionMemberpru:GroupInsuranceMember2024-01-012024-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualLifeMember2024-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualLifeMember2024-01-012024-12-310001137774pru:USBusinessesDivisionMember2024-12-310001137774pru:USBusinessesDivisionMember2024-01-012024-12-310001137774pru:InternationalInsuranceDivisionMemberpru:LifePlannerMember2024-12-310001137774pru:InternationalInsuranceDivisionMemberpru:LifePlannerMember2024-01-012024-12-310001137774pru:InternationalInsuranceDivisionMemberpru:GibraltarLifeAndOtherMember2024-12-310001137774pru:InternationalInsuranceDivisionMemberpru:GibraltarLifeAndOtherMember2024-01-012024-12-310001137774pru:InternationalInsuranceDivisionMember2024-12-310001137774pru:InternationalInsuranceDivisionMember2024-01-012024-12-310001137774pru:TotalPFIExcludingClosedBlockDivisionMember2024-12-310001137774pru:TotalPFIExcludingClosedBlockDivisionMember2024-01-012024-12-310001137774pru:ClosedBlockDivisionMember2024-12-310001137774pru:ClosedBlockDivisionMember2024-01-012024-12-310001137774pru:PGIMDivisionMemberpru:PGIM1Member2023-12-310001137774pru:PGIMDivisionMemberpru:PGIM1Member2023-01-012023-12-310001137774pru:USBusinessesDivisionMemberpru:InstitutionalRetirementStrategiesMember2023-12-310001137774pru:USBusinessesDivisionMemberpru:InstitutionalRetirementStrategiesMember2023-01-012023-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualRetirementStrategiesMember2023-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualRetirementStrategiesMember2023-01-012023-12-310001137774pru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2023-12-310001137774pru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2023-01-012023-12-310001137774pru:USBusinessesDivisionMemberpru:GroupInsuranceMember2023-12-310001137774pru:USBusinessesDivisionMemberpru:GroupInsuranceMember2023-01-012023-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualLifeMember2023-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualLifeMember2023-01-012023-12-310001137774pru:USBusinessesDivisionMember2023-12-310001137774pru:USBusinessesDivisionMember2023-01-012023-12-310001137774pru:InternationalInsuranceDivisionMemberpru:LifePlannerMember2023-12-310001137774pru:InternationalInsuranceDivisionMemberpru:LifePlannerMember2023-01-012023-12-310001137774pru:InternationalInsuranceDivisionMemberpru:GibraltarLifeAndOtherMember2023-12-310001137774pru:InternationalInsuranceDivisionMemberpru:GibraltarLifeAndOtherMember2023-01-012023-12-310001137774pru:InternationalInsuranceDivisionMember2023-12-310001137774pru:InternationalInsuranceDivisionMember2023-01-012023-12-310001137774pru:TotalPFIExcludingClosedBlockDivisionMember2023-12-310001137774pru:TotalPFIExcludingClosedBlockDivisionMember2023-01-012023-12-310001137774pru:ClosedBlockDivisionMember2023-12-310001137774pru:ClosedBlockDivisionMember2023-01-012023-12-310001137774pru:PGIMDivisionMemberpru:PGIM1Member2022-12-310001137774pru:PGIMDivisionMemberpru:PGIM1Member2022-01-012022-12-310001137774pru:USBusinessesDivisionMemberpru:InstitutionalRetirementStrategiesMember2022-12-310001137774pru:USBusinessesDivisionMemberpru:InstitutionalRetirementStrategiesMember2022-01-012022-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualRetirementStrategiesMember2022-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualRetirementStrategiesMember2022-01-012022-12-310001137774pru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2022-12-310001137774pru:USBusinessesDivisionMemberpru:RetirementStrategiesMember2022-01-012022-12-310001137774pru:USBusinessesDivisionMemberpru:GroupInsuranceMember2022-12-310001137774pru:USBusinessesDivisionMemberpru:GroupInsuranceMember2022-01-012022-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualLifeMember2022-12-310001137774pru:USBusinessesDivisionMemberpru:IndividualLifeMember2022-01-012022-12-310001137774pru:USBusinessesDivisionMember2022-12-310001137774pru:USBusinessesDivisionMember2022-01-012022-12-310001137774pru:InternationalInsuranceDivisionMemberpru:LifePlannerMember2022-12-310001137774pru:InternationalInsuranceDivisionMemberpru:LifePlannerMember2022-01-012022-12-310001137774pru:InternationalInsuranceDivisionMemberpru:GibraltarLifeAndOtherMember2022-12-310001137774pru:InternationalInsuranceDivisionMemberpru:GibraltarLifeAndOtherMember2022-01-012022-12-310001137774pru:InternationalInsuranceDivisionMember2022-12-310001137774pru:InternationalInsuranceDivisionMember2022-01-012022-12-310001137774pru:TotalPFIExcludingClosedBlockDivisionMember2022-12-310001137774pru:TotalPFIExcludingClosedBlockDivisionMember2022-01-012022-12-310001137774pru:ClosedBlockDivisionMember2022-12-310001137774pru:ClosedBlockDivisionMember2022-01-012022-12-310001137774us-gaap:LifeInsuranceSegmentMember2024-01-012024-12-310001137774us-gaap:AccidentAndHealthInsuranceSegmentMember2024-01-012024-12-310001137774us-gaap:LifeInsuranceSegmentMember2023-01-012023-12-310001137774us-gaap:AccidentAndHealthInsuranceSegmentMember2023-01-012023-12-310001137774us-gaap:LifeInsuranceSegmentMember2022-01-012022-12-310001137774us-gaap:AccidentAndHealthInsuranceSegmentMember2022-01-012022-12-31
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________________ 
FORM 10-K
☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED December 31, 2024
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM              TO             
COMMISSION FILE NUMBER 001-16707
____________________________________________ 
Prudential Financial, Inc.
(Exact Name of Registrant as Specified in its Charter)
New Jersey 22-3703799
(State or Other Jurisdiction of
Incorporation or Organization)		 (I.R.S. Employer
Identification Number)
751 Broad Street
Newark, NJ 07102
(973) 802-6000
(Address and Telephone Number of Registrant’s Principal Executive Offices)
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of Each ClassTrading Symbols(s)Name of Each Exchange on Which Registered
Common Stock, Par Value $.01PRUNew York Stock Exchange
5.950% Junior Subordinated NotesPRHNew York Stock Exchange
5.625% Junior Subordinated NotesPRSNew York Stock Exchange
4.125% Junior Subordinated NotesPFHNew York Stock Exchange
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: NONE
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  ☒  No  ☐
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  ☒  No  ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of the Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  ☒  No  ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☒
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of June 30, 2024, the aggregate market value of the registrant’s Common Stock (par value $0.01) held by non-affiliates of the registrant was $41.91 billion and 358 million shares of the Common Stock were outstanding. As of January 31, 2025, 354 million shares of the registrant’s Common Stock (par value $0.01) were outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
Part III of this Form 10-K incorporates by reference certain information from the Registrant’s Definitive Proxy Statement for the Annual Meeting of Shareholders to be held on May 13, 2025, to be filed by the Registrant with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the year ended December 31, 2024.

Table of Contents
TABLE OF CONTENTS
 
   Page
PART IItem 1.
Item 1A.
Item 1B.
Item 1C.
Item 2.
Item 3.
Item 4.
PART IIItem 5.
Item 6.
Item 7.
Item 7A.
Item 8.
Item 9.
Item 9A.
Item 9B.
Item 9C.
PART IIIItem 10.
Item 11.
Item 12.
Item 13.
Item 14.
PART IVItem 15.
Item 16.
 
Forward-Looking Statements

Certain of the statements included in this Annual Report on Form 10-K constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “anticipates,” “includes,” “plans,” “assumes,” “estimates,” “projects,” “intends,” “should,” “will,” “shall” or variations of such words are generally part of forward-looking statements. Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Prudential Financial, Inc. and its subsidiaries. There can be no assurance that future developments affecting Prudential Financial, Inc. and its subsidiaries will be those anticipated by management. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements, including, among others: (1) losses on investments or financial contracts due to deterioration in credit quality or value, or counterparty default; (2) losses on insurance products due to mortality experience, morbidity experience or policyholder behavior experience that differs significantly from our expectations when we price our products; (3) changes in interest rates, equity prices and foreign currency exchange rates that may (a) adversely impact the profitability of our products, the value of separate accounts supporting these products or the value of assets we manage, (b) result in losses on derivatives we use to hedge risk or increase collateral posting requirements and (c) limit opportunities to invest at appropriate returns; (4) guarantees within certain of our products which are market sensitive and may decrease our earnings or increase the volatility of our results of operations or financial position; (5) liquidity needs resulting from (a) derivative collateral market exposure, (b) asset/liability mismatches, (c) the lack of available funding in the financial markets or (d) unexpected cash demands due to severe mortality calamity or lapse events; (6) financial or customer losses, or regulatory and legal actions, due to inadequate or failed processes or systems, external events, and human error or misconduct such as (a) disruption of our systems and data, (b) an information security breach, (c) a failure to protect the privacy of sensitive data, (d) reliance on third parties or (e) labor and employment matters; (7) changes in the regulatory landscape, including related to (a) financial sector regulatory reform, (b) changes in tax laws, (c) fiduciary rules and other standards of care, (d) U.S. state insurance laws and developments regarding group-wide supervision, capital and reserves, (e) insurer capital standards outside the U.S. and (f) privacy and cybersecurity regulation; (8) technological changes which may adversely impact companies in our investment portfolio or cause insurance experience to deviate from our assumptions; (9) an inability to protect our intellectual property rights or claims of infringement of the intellectual property rights of others; (10) ratings downgrades; (11) market conditions that may adversely affect the sales or persistency of our products; (12) competition; (13) reputational damage; and (14) the costs, effects, timing, or success of our plans to execute our strategy. Prudential Financial, Inc. does not undertake to update any particular forward-looking statement included in this document. See “Risk Factors” included in this Annual Report on Form 10-K for discussion of certain risks relating to our businesses and investment in our securities.

Table of Contents
Throughout this Annual Report on Form 10-K, “Prudential Financial” and the “Registrant” refer to Prudential Financial, Inc., the ultimate holding company for all of our companies. “PICA” refers to The Prudential Insurance Company of America. “Prudential,” the “Company,” “we” and “our” refer to our consolidated operations.

PART I
ITEM 1.BUSINESS
 
Table of Contents
 Page
1
Table of Contents

Overview
 
Prudential Financial, Inc. (“Prudential Financial” or “PFI”), a global financial services leader and premier active global investment manager with approximately $1.512 trillion of assets under management as of December 31, 2024, has operations in the United States, Asia, Europe and Latin America. Through our subsidiaries and affiliates we offer a wide array of financial products and services, including life insurance, annuities, retirement-related products and services, mutual funds and investment management. We offer these products and services to individual and institutional customers through proprietary and third-party distribution networks. Our principal executive offices are located in Newark, New Jersey, and Prudential Financial’s Common Stock is publicly traded on the New York Stock Exchange under the ticker symbol “PRU.”
 
On December 18, 2001, The Prudential Insurance Company of America (“PICA”) converted from a mutual life insurance company owned by its policyholders to a stock life insurance company and became a wholly-owned subsidiary of Prudential Financial. The demutualization was carried out under PICA’s Plan of Reorganization, which required us to establish and operate a regulatory mechanism known as the “Closed Block.” The Closed Block includes certain in-force participating insurance and annuity products and corresponding assets that are used for the payment of benefits and policyholders’ dividends on these products, as well as certain related assets and liabilities.

Our principal operations consist of PGIM (our global investment management business), our U.S. Businesses (consisting of our Retirement Strategies, Group Insurance and Individual Life businesses), our International Businesses, the Closed Block division and our Corporate and Other operations. The Closed Block division is accounted for as a divested business that is reported separately from the Divested and Run-off Businesses that are included in Corporate and Other. Divested and Run-off Businesses are composed of 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 generally accepted accounting principles in the United States of America (“U.S. GAAP”). Our Corporate and Other operations include corporate items and initiatives that are not allocated to business segments as well as the Divested and Run-off Businesses described above. See Note 23 to the Consolidated Financial Statements for revenues, income and loss, and total assets by segment.

In September 2023, we, together with Warburg Pincus and a group of institutional investors, announced the launch of Prismic Life Reinsurance, Ltd. (“Prismic Re”), a licensed Bermuda-based life and annuity reinsurance company. In conjunction with this announcement, we made an initial equity investment through our Corporate and Other operations of approximately $200 million, equivalent to a 20% interest, in Prismic Life Holding Company LP (“Prismic”), the Bermuda-exempted limited partnership that owns all of the outstanding capital stock of Prismic Re. We expect the increased reinsurance capacity that this partnership provides to support our vision of expanding access to investing, insurance, and retirement security for people around the world. As this investment is accounted for under the equity method, both Prismic and Prismic Re are considered related parties. For additional information regarding related party transactions, see Note 24 to the Consolidated Financial Statements.

Our strategy centers on leveraging our mutually-reinforcing business system to become a higher growth, less market-sensitive and more nimble company. Our business system includes a mix of high-quality protection, retirement and investment management businesses which creates growth potential by capitalizing on long-term, durable trends to provide customers with integrated cross-business solutions, as well as generate capital benefits from a balanced risk profile. We believe that we are well-positioned to meet the needs of customers and tap into significant market opportunities through PGIM, our U.S. Businesses and our International Businesses. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for additional information.

2
Table of Contents

PGIM

Provides investment management services and solutions related to public fixed income, public equity, real estate debt and equity, private credit and other alternatives, and multi-asset class strategies, to institutional and retail clients globally, as well as our insurance and retirement businesses.

Products

Our products and services are offered through the following businesses:

•PGIM Fixed Income—provides global active asset management services across public fixed income markets, as well as alternatives.
•Jennison Associates—provides active fundamental public equity and fixed income asset management services across an array of growth, value, global and specialty equity strategies, as well as fixed income strategies.
•PGIM Quantitative Solutions—provides a range of systematic, customized solutions across equity, multi-asset, and liquid alternative platforms.
•PGIM Private Capital—provides private credit solutions across the risk spectrum including investment grade, high yield, direct lending and mezzanine financing.
•PGIM Real Estate—provides a broad range of public and private real estate debt and equity strategies as well as private equity investments with a focus on secondary transactions in the small and mid-cap market.
•PGIM Investments—offers actively managed investment solutions, including mutual funds, listed and unlisted closed-end funds, exchange-traded funds (“ETFs”) and separately managed accounts to individual investors, defined contribution plans and financial intermediaries in the U.S., as well as Undertakings for the Collective Investment in Transferable Securities (“UCITS”) and other investment solutions to financial intermediaries in select countries across Europe, Asia and Latin America. Additionally, operates local asset management businesses in Taiwan and India and has interests in an operating joint venture in China.
•PGIM Multi-Asset Solutions—provides public and private multi-asset class liability-driven investment solutions to institutional clients.

We hold seed and co-investments in some of our investment products to either (i) seed new products or investment strategies in order to develop a track record prior to obtaining third-party investments, or (ii) co-invest alongside clients in PGIM-managed funds to demonstrate that our interests are aligned with theirs.
Marketing and Distribution

We primarily distribute products through the following channels:

•Institutional
◦Proprietary sales force for each PGIM business with independent marketing and client service teams.
◦PGIM’s Institutional Relationship Group, which develops relationships with, and introduces PGIM’s broad capabilities to, large institutions globally.

•Retail
◦Third-party intermediaries and product manufacturers/distributors globally who include our investment options in their products and platforms.
◦Distribution channels associated with other Prudential business segments.
◦Financial professionals associated with Prudential Advisors, Prudential’s proprietary nationwide sales organization.

•General Account
◦Provide investment management services across a broad array of asset classes for our general account.




3
Table of Contents
PGIM (Continued)
Revenues and Profitability
Our revenues primarily come from:
•Asset management fees, which are typically calculated based upon a percentage of assets under management. In certain asset management arrangements, we also receive performance-based incentive fees when the return on the managed assets exceeds certain benchmark returns or other performance targets.
•Revenues from commercial mortgage origination and servicing.
•Transaction fees earned in connection with the structuring, sale or purchase of assets, primarily related to real estate and private fixed income.
•Investment returns from seed and co-investments.

Our profitability is substantially impacted by:
•Macro market movements (e.g., interest rates, credit spreads and equity market performance).
•Our ability to achieve investment returns above the target benchmarks.
•Our ability to attract and retain client investments.

Competition

We compete with numerous asset managers and other financial institutions. For our investment management products, we compete based on a number of factors, including investment performance, strategy and process, talent, organizational stability and client relationships.

We offer products across multiple asset classes, with specialized investment teams that employ approaches designed to add value in each product area or asset class. Our organizational stability and robust institutional and retail businesses have helped attract and retain talent critical to delivering investment results for clients. Our private credit and commercial real estate lending businesses compete based on price, terms, execution and the strength of our relationship with the borrower.
4
Table of Contents
U.S. Businesses—Retirement Strategies
Serves the retirement needs of both our institutional and individual customers. Our Institutional Retirement Strategies business develops and distributes retirement investment and income products and services to retirement plan sponsors in the public, private and not-for-profit sectors, both domestically and internationally, primarily within the United Kingdom. Our Individual Retirement Strategies business develops and distributes individual variable and fixed annuity products in the U.S., primarily to mass affluent (households with investable assets or annual income in excess of $100,000) and affluent (households with investable assets in excess of $250,000) customers with a focus on innovative product design and risk management strategies.
Products
We offer a variety of products and solutions to serve different retirement needs and goals:
Institutional Retirement Strategies
Payout Annuities: products that provide a predictable source of monthly income, generally for the life of the annuitant.
•Pension risk transfer—non-participating group annuity insurance and reinsurance contracts issued to pension plan sponsors and intermediaries, under which we assume all investment and actuarial risk associated with a group of specified participants within a plan in return for a premium typically paid as a lump-sum at inception.
•Pension risk transfer—longevity reinsurance contracts with counterparties from which we earn a fee for assuming the longevity risk of pension plans that have been insured by third-parties. Premiums for these products are typically paid over the duration of the contract as opposed to a lump-sum at inception.
Stable Value: products where our obligations are backed by our general account, and where we bear some or all of the investment and asset-liability management risk, depending on the product.
•Investment-only products—for use in institutional capital markets and qualified plans primarily including fee-based wraps through which customers’ funds are held in a client-owned trust and investment results pass through to the customer. We earn fee revenue for providing a guaranteed minimum interest rate backed by the general account.
•Guaranteed Investment Contracts and Funding Agreements—contain an obligation to pay interest at a specified rate and to repay principal at maturity or following contract termination.
Other products: includes structured settlements and other group annuities.
Individual Retirement Strategies
Indexed Variable Annuities
•The Prudential FlexGuard® indexed variable annuity, offers the contractholder an opportunity to allocate funds to variable subaccounts and index-based strategies. The strategies provide an interest component linked to, but not an investment in, the selected index, and its performance over the elected term, subject to certain contractual minimums and maximums, and also provides varying levels of downside protection at pre-determined levels and durations. The product also allows for additional deposits and provides a Return of Purchase Payment (“ROP”) death benefit at no additional charge.
•The Prudential FlexGuard® Income indexed variable annuity offers similar investment and crediting features as the Prudential FlexGuard® product, with a focus on income protection by providing a protected income benefit for an additional fee. Crediting strategies are limited during the income phase.
Traditional Variable Annuities
•The Prudential Premier® Investment Variable Annuity (“PPI”) 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.
•The Prudential MyRock® Advisor Variable Annuity, a fee-based product that offers an optional Dynamic Income Benefit (“IB”) rider that provides longevity protection through a preset withdrawal percentage applied to a variable income base. In addition, the product offers either a basic death benefit or an ROP death benefit. Both the IB and the ROP are available for an additional fee.
Fixed Annuities
•PruSecure®, SurePath® and SurePath® Income, all single premium fixed indexed annuities, offer flexibility to allocate account balances between an index-based strategy and a fixed rate strategy. The index-based strategy provides interest or an interest component linked to, but not an investment in, the selected index, and its performance over the elected term (i.e., 1, 3 or 5 years for PruSecure® and 1 or 3 years for SurePath® and SurePath® Income), subject to certain contractual minimums and maximums. The fixed rate strategy, not associated with an index, offers a guaranteed growth at a set interest rate for one year and can be renewed annually. Additionally, SurePath® Income offers a benefit that provides for guaranteed lifetime withdrawal payments.
•The Prudential Fixed Annuity with Daily Advantage Income Benefit® (“DAI”), a single premium fixed annuity, provides principal protection as well as a guaranteed lifetime withdrawal income payment for an additional fee. The lifetime income amount increases daily without exposure to the equity market until the contractholder begins taking withdrawals.
•The Prudential WealthGuardSM Multi-Year Guaranteed Annuity, a single premium fixed rate deferred annuity launched in August 2023, provides tax-deferred growth and guaranteed rate of return over an initial guaranteed rate period (i.e., 3, 5 or 7 years).
•The Prudential Immediate Income Annuity (“PIIA”), a single premium immediate annuity, provides a regular stream of benefit payments. The payments are guaranteed, cannot be changed and are higher than those guaranteed on products that provide liquidity.
5
Table of Contents
Retirement Strategies (Continued)
Revenues and Profitability
Our revenues primarily come in the form of:
Institutional Retirement Strategies
•Premiums associated with insurance and reinsurance contracts and our payout annuities.
•Policy charges and fee income based on account values of our fee-based stable value and longevity reinsurance products.
•Investment income (which contributes to the net spread over interest credited on our products and related expenses).
Our profitability is substantially impacted by our ability to appropriately price our products. We price our products based on pricing models that consider the investment environment and our risk, fees, expenses, profitability targets, and assumptions for mortality and potential for early retirement. These assumptions may be less predictable in certain markets.
Individual Retirement Strategies
•Fee income from asset management fees and service fees, which represent administrative service and distribution fees from many of our proprietary and non-proprietary mutual funds. The asset management fees are determined as a percentage of the average assets of our proprietary mutual funds in our variable annuity products (net of sub-advisory expenses related to non-proprietary sub-advisors).
•Policy charges and fee income representing mortality, expense and other fees for various insurance-related options and features based on the average daily net asset value of the annuity separate accounts, account value, premium, or guaranteed value, as applicable.
•Investment income (which contributes to the net spread over interest credited on certain products and related expenses) and interest income on collateral posted to counterparties.
Our profitability is substantially impacted by our ability to appropriately price our products. We price our products based on:
•An evaluation of the risks assumed and consideration of applicable risk management strategies, including hedging and reinsurance costs.
•Assumptions regarding investment returns and contractholder behavior, including persistency, benefit utilization and the timing and efficiency of withdrawals for contracts with living benefit features, as well as other assumptions.
Marketing and Distribution
Institutional Retirement Strategies
We primarily distribute products through the following channels:
•Pension risk transfer through actuarial consultants and third-party brokers.
•Structured settlements through third-party specialized brokers.
•Voluntary income products and other group annuities directly to plan sponsors.
•Stable value products through our proprietary sales force and third-party intermediaries.
Individual Retirement Strategies
Our distribution efforts, which are supported by a network of internal and external wholesalers, are executed through a diverse group of distributors, including:
•Third-party distribution through:
◦Broker-dealers;
◦Banks and wirehouses;
◦Independent financial planners; and
◦Independent Marketing Organizations (“IMO”) (specifically for SurePath® and SurePath® Income).
•Financial professionals associated with Prudential Advisors, Prudential’s proprietary nationwide sales organization.
Competition
Institutional Retirement Strategies
We compete with other large, well-established insurance companies, asset managers and diversified financial institutions primarily based on:
•Pricing.
•Structuring capabilities.
•Our ability to offer innovative product solutions and successfully execute large-scale transactions.
We are a leader in providing innovative pension risk management solutions to plan sponsors and in the stable value market. We believe the pension risk transfer market continues to offer attractive opportunities that are aligned with our expertise.
Individual Retirement Strategies
We are among the industry’s largest providers of individual annuities and we compete with other providers of retirement savings and accumulation products, including large, well-established insurance and financial services companies, and private equity firms.
We believe our competitive advantage lies primarily in our innovative product features and our risk management strategies as well as brand recognition, financial strength, the breadth of our distribution platform and our customer service capabilities.
We periodically adjust product offerings, prices and features based on the market and our strategy, with a goal of achieving customer and enterprise value.
6
Table of Contents
U.S. Businesses—Group Insurance
Provides and distributes a full range of group life, long-term and short-term group disability and group corporate bank and trust-owned life insurance across the U.S. to institutional clients, professional associations and affinity groups to enhance employee and membership benefit plans. Additionally, we offer voluntary products including accident, critical illness and hospital indemnity. Our services also include plan administration and absence management, covering employee paid and unpaid leave including the Family Medical Leave Act, the Americans with Disabilities Act and Paid Family Leave. In 2024, we expanded into the medical stop loss market, with coverage effective dates starting from January 1, 2025.

Products

We offer a variety of products, through both non-experience- rated contracts (where we assume all mortality/morbidity risk) and experience-rated contracts (where mortality/morbidity experience is shared between us and the clients), and services through the following businesses:

Group Life Insurance

•Employer-paid, employee-paid and member-paid coverages for term life, group universal life and group variable universal life insurance, as well as accidental death and dismemberment insurance. Certain coverages allow employees to retain their coverage when they change employers or retire, and we offer waiver of premium coverage in the event the insured suffers a qualifying disability.
 
•Group corporate-, bank- and trust-owned life insurance in the form of group variable life insurance contracts utilizing separate accounts. These products are typically used by large corporations to fund deferred compensation plans and benefit plans for retired employees.

Group Disability Insurance & Other

•Short-term and long-term group disability insurance, which protect against loss of wages due to illness or injury. Short-term disability generally provides weekly benefits for three to six months while long-term disability benefits are typically paid monthly, following a waiting period, and generally continue until the insured either returns to work or reaches normal retirement age.

•Other supplemental health solutions, including accident, critical illness and hospital indemnity plans which help offset expenses associated with medical events.

•Plan administration and absence management services. State, federal and company paid-leave solutions that assist employers in minimizing the administrative workload of managing their leave programs while ensuring compliance with complex state legislation.
•Medical stop loss insurance, which is a risk management product aimed at helping protect self-insured employers against catastrophic medical claims that exceed predetermined levels. Our stop loss product offerings include both specific and aggregate stop loss coverage. Specific stop loss covers claims for an individual at a set deductible level while aggregate stop loss limits total claims paid by an employer for an entire group of employees during a contract period.
Marketing and Distribution

We primarily distribute products through a proprietary sales force organized around market segments in conjunction with employee benefit brokers and consultants. We define our market segments as follows:

•National Market—employer groups having over 5,000 benefit eligible employees.

•Premier Market—employer groups having between 100 and 5,000 benefit eligible employees.

•Association—affinity groups, regardless of size.
7
Table of Contents
Group Insurance (Continued)

Revenues and Profitability

Our revenues primarily come in the form of:

•Premiums and policy charges for our group life, group disability and supplemental health products.

•Investment income (which contributes to the net spread over interest credited on our products and related expenses).

Our profitability is substantially impacted by our ability to appropriately price our products, many of which include multiple year premium rate guarantees.

We price our products based on:

•Underwriting practices and rating systems that consider company, industry and/or other experience.
 
•The expected pay-out of benefits and other costs that we calculate using assumptions for mortality and morbidity rates, interest rates and expenses, depending upon the specific product features.

Competition

We compete with many large, well-established life and health insurance providers in mature markets. Our primary competitive advantages include brand recognition, financial strength and a diverse range of product offerings that help employers create comprehensive benefits programs that support the well-being of their employees. Additionally, we emphasize customer relationships and overall experience. While the majority of our premiums are derived from the National Market segment, we continue to diversify our book through growth of the Premier Market and Association segments.

Employee-paid coverage is important as employers attempt to control costs and shift benefit decisions and funding to employees who continue to value workplace benefits. Our profitability is dependent, in part, on the voluntary coverage marketplace, which will be affected by future employment and compensation rates.

8
Table of Contents
U.S. Businesses—Individual Life
 
Develops and distributes variable life, universal life and term life insurance products primarily to U.S. mass middle (households with investable assets in excess of $25,000 or annual income in excess of $50,000), mass affluent (households with investable assets or annual income in excess of $100,000) and affluent (households with investable assets in excess of $250,000) customers with a focus on providing life insurance solutions to protect individuals, families and businesses and to support estate and wealth transfer planning.
Products

We offer a variety of products, consisting of base contracts and riders (such as our accelerated death benefit rider), that serve different protection needs and goals, including:

Variable Life—permanent coverage for life with potential to accumulate policy cash value based on underlying investment options.

•Our variable life policies offer flexibility in payment options and the potential to accumulate cash value through a suite of underlying investment options or a fixed rate option.
 
•Indexed variable life policies provide index-linked investment options (index strategies) in addition to a suite of underlying investment options or a fixed rate option. Index strategies credit interest to the cash value that is linked to, but not an investment in, the performance of an external index, subject to certain parameters such as cap, step, participation, and buffer rates, as well as contractual minimums/maximums.

Universal Life—permanent coverage for life with the potential to accumulate policy cash value.

•Our universal life policies offer flexibility in payment options and the potential to accumulate cash value in an account that earns interest based on a crediting rate determined by the Company, subject to contractual minimums.
 
•Indexed universal life policies provide interest credited to the cash value that is linked to, but not an investment in, the performance of an external index subject to certain cap and participation rates as well as contractual minimums/maximums.

Term Life—coverage for a specified number of years with a guaranteed tax-advantaged death benefit.

•Most of our term life policies offer an income tax-free death benefit and guaranteed premiums that will stay the same during the level-premium period.

•Most of our term life policies also offer a conversion option that allows the policyholder to convert the policy into a permanent policy that can potentially cover the insured for life.

Other

•Final Expense Insurance—a whole life product that provides coverage in smaller face amounts, typically used for funeral expenses.
Marketing and Distribution

Our distribution efforts, which are supported by a network of internal and external wholesalers, are executed through a diverse group of distributors, including:
 
•Third-party distribution through:

◦Independent brokers;
◦Banks and wirehouses; and
◦General agencies and producer groups.
 
•Financial professionals associated with Prudential Advisors, Prudential’s proprietary nationwide sales organization.
 
•Trusted Partnerships, via embedded digital solutions through:

◦Credit Unions;
◦Mortgage originators;
◦Affinities; and
◦Digital marketing affiliates/paid media efforts.
9
Table of Contents
Individual Life (Continued)
Revenues and Profitability

Our revenues primarily come in the form of:

•Premiums that are fixed in accordance with the terms of the policies.
 
•Policy charges and fee income consisting of in-force policy- and/or asset-based fees.
 
•Investment income (which contributes to the net spread over interest credited on our products and related expenses).

Our profitability is substantially impacted by our ability to appropriately price our products. We price our products based on our assumptions of future:

•Mortality and morbidity;
•Policyholder behavior;
•Interest rates and investment returns;
•Expenses;
•Premium payment patterns;
•Performance and cost of ceded reinsurance;
•Separate account fund performance; and
•Product-generated tax deductions.
Competition

We compete with many large, well-established life insurance companies in a mature market. We compete primarily based on price, service (including the speed and ease of underwriting), distribution channel relationships, brand recognition and financial strength.

We periodically adjust product offerings, prices and features based on the market and our strategy, with a goal of achieving customer and enterprise value.

10
Table of Contents
International Businesses
 
Develops and distributes life insurance, retirement products, investment products and certain accident and health products with fixed benefits to mass affluent and affluent customers through our Life Planner operations in Japan, Brazil and Mexico. Our Gibraltar Life and Other operations also provide similar products, as well as advisory and administration services, through multiple distribution channels (including Life Consultants, banks and independent agencies) to broad middle income and mass affluent customers across Japan, through our joint ventures in Chile, China, India and Indonesia, and through our strategic investments in Ghana, Kenya and South Africa.

Products

Our products are classified into the following four categories:

Life Insurance Protection Products—include various traditional whole life products that provide either level or increasing coverage, and that offer limited or lifetime premium payment options.
•We also offer increasing, decreasing and level benefit term insurance products that provide coverage for a specified time period, as well as protection-oriented variable life products.
•Some of these protection products are denominated in U.S. dollars and some are sold as bundled products that, in addition to death protection, include health benefits or savings elements.

Retirement Products—include retirement income products that combine insurance protection similar to term life with:
•A lifetime income stream that commences at a predefined age;
•A savings-oriented variable life product that provides a non-guaranteed return linked to an underlying investment portfolio of equity and fixed income funds selected by the customer; and
•Endowments that provide payment of the face amount on the earlier of death or policy maturity.

Investment Products—primarily represented by U.S. dollar- and yen-denominated investment contracts sold by our operations in Japan and include:
•Single-pay products where credited interest rates are guaranteed for a specified period of time and impose a market value adjustment if the contract is not held to maturity.
•Variable and indexed annuities that provide a non-guaranteed return or a return based on a selected index with performance subject to certain contractual maximums and minimums providing downside protection.

Accident and Health Products—that provide the following:
•Benefits to cover accidental death and dismemberment, hospitalization, surgeries, as well as costs of cancer and other dread diseases often sold as supplementary riders and not as stand-alone products; and
•Waiver of premium coverage where required premiums are waived in the event the customer suffers a qualifying disability.
Marketing and Distribution

Our marketing and distribution efforts are conducted through the following proprietary agent models and third-party channels:

•Proprietary agent models:

◦Life Planners—focus on selling protection-oriented life insurance products on a needs basis to mass affluent and affluent customers, as well as retirement-oriented products to small businesses. We believe that our recruiting and selection process, training programs and compensation packages are key to the Life Planner model and have helped our Life Planner operations achieve higher levels of agent retention, agent productivity and policy persistency.

◦Life Consultants—a proprietary distribution force for products offered by our Gibraltar Life operations. Their focus is to provide individual protection products to the broad middle income market, primarily in Japan, particularly through relationships with affinity groups. Our Life Consultant operation is based on a variable compensation plan designed to improve productivity and persistency that is similar to compensation plans in our Life Planner operations.

•Third-party channels:

◦Bank Distribution Channel—sells primarily life insurance products intended to provide savings features, premature death protection and estate planning benefits as well as investment and annuity products primarily denominated in U.S. dollars. We view this channel as an adjunct to our core Life Planner and Life Consultant distribution channels. We have relationships with Japan’s major banks, as well as many regional banks, and we continue to explore opportunities to expand our distribution capabilities through this channel, as appropriate.

◦Independent Agency Distribution Channel—sells protection products and high cash value products for retirement benefits through the corporate market, and a variety of other products including protection and investment products through the individual market. Our focus is to maintain a diverse mix of independent agency relationships, including corporate agencies and other independent agencies, with a balanced focus on individual and corporate markets.

11
Table of Contents
International Businesses (Continued)
Revenues and Profitability
Our revenues primarily come in the form of:
•Premiums that are fixed or flexible in accordance with the terms of the policies.

•Policy charges and fee income consisting of in-force policy- and/or asset-based fees.
 
•Investment income (which contributes to the net spread over interest credited on our products and related expenses).

Our profitability is substantially impacted by our ability to appropriately price our products. Sales and surrenders of non-yen denominated products in Japan can be sensitive to foreign currency relationships which are impacted by, among other things, the comparative interest rates in their respective countries.
We price our products based on:
•Local regulation, which is generally more restrictive for product offerings, pricing and structure than U.S. insurance regulation. Each international insurance operation has its own underwriting department that employs variations of U.S. practices in underwriting individual policy risks. To the extent permitted by local regulation, we base premiums and policy charges for our products on expected death and morbidity benefits, surrender benefits, expenses, required reserves, interest rates, investment returns, policy persistency and premium payment patterns. In setting underwriting limits, we also consider local industry standards to prevent adverse selection and to stay abreast of industry trends. In addition, we set underwriting limits together with each operation’s reinsurers.
 
•Achieving a targeted rate of return for each operation, while taking into account the country-specific costs of capital, risks, and competitive environment. The profitability of our products is impacted by differences between actual mortality, morbidity, expense, and investment experience and the related assumptions used in pricing these policies. As a result, the profitability of our products can fluctuate from period to period. Changes in local tax laws may also affect profitability.
Competition
The life insurance market in Japan is mature and pricing is competitive. Demographic trends in Japan suggest an increasing opportunity for product innovation, such as introducing insurance products that allow for savings and income and offering differentiated health products with value added services as a growing portion of the population prepares for retirement. The ability to sell through multiple and complementary distribution channels is also a competitive advantage; however, competition for sales personnel, as well as access to third-party distribution channels, is intense.

In Brazil, while life insurance penetration remains relatively low, the life insurance market has exhibited continuous growth driven by an increased awareness of life insurance needs. Although the market is competitive, opportunity exists to enhance our market presence through a strategic emphasis on high-quality services and product innovation aligned with evolving customer needs, as well as maintaining strong partnerships with third-party distributors.

In both of these markets, rather than competing primarily based on price, we generally compete on the basis of customer service, including our needs-based approach to selling, the quality and diversity of our distribution capabilities, and our financial strength.

We periodically adjust product offerings, prices and features based on the market and our strategy, with a goal of achieving customer and enterprise value.
12
Table of Contents

Corporate and Other
 
Includes corporate items and initiatives that are not allocated to our business segments, certain businesses whose financial results and operations are not considered significant, and businesses that have been or will be divested or placed in wind-down status, except for the Closed Block. Results of the Closed Block, along with certain related assets and liabilities, are reported separately from the Divested and Run-off Businesses included in Corporate and Other.

Corporate Operations—Consists primarily of: (1) capital that is not deployed in any business segment; (2) investments not allocated to business segments; (3) capital debt; (4) our qualified and non-qualified pension and other employee benefit plans, after allocations to business segments; (5) corporate-level activities, after allocations to business segments, primarily including strategic expenditures, acquisition and disposition costs, corporate governance, corporate advertising, philanthropic activities, deferred compensation, and costs related to certain contingencies and legal matters; (6) expenses associated with the multi-year plan of programs that span across our businesses and the functional areas that support those businesses; (7) certain retained obligations relating to pre-demutualization policyholders; (8) impacts of risk management activities pursuant to our Risk Appetite Framework; (9) the foreign currency income hedging program used to hedge certain non-U.S. dollar denominated earnings in our International Businesses segment; (10) intercompany arrangements with our International Businesses and PGIM segments to translate certain non-U.S. dollar-denominated earnings at fixed currency exchange rates; (11) results of certain consolidated investment funds managed by our PGIM business; (12) Prudential Advisors, Prudential’s proprietary nationwide sales organization; (13) the Company’s share of earnings in Prismic as well as the invested assets supporting the contracts reinsured with Prismic Re via coinsurance with funds withheld arrangements and the offsetting funds withheld payable; and (14) transactions with and between other segments, including the elimination of intercompany transactions for consolidation purposes.

Divested and Run-off Businesses—Reflects the results of 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. We exclude these results from our adjusted operating income. Divested and Run-off Businesses primarily include: 
 
•Long-Term Care—In 2012, we discontinued sales of our individual and group long-term care insurance products. We establish reserves for these products in accordance with U.S. GAAP. We use best estimate assumptions when establishing reserves for future policyholder benefits, including assumptions for morbidity, mortality, mortality improvement, persistency, and inflation. Our assumptions also include our estimate of the timing and amount of anticipated future premium rate increases and policyholder benefit reductions, including those which may require approval by state regulatory authorities, and a discount rate assumption based on an upper-medium grade fixed-income instrument yield.
•PGIM Wadhwani LLP (“PGIMW”)—In the third quarter of 2024, we exited PGIMW, our London-based managed futures investment management firm. The results of this business were transferred from the PGIM segment to Divested and Run-off Businesses at that time.
•Assurance IQ, LLC (“AIQ”)—In the first quarter of 2024, we committed to a plan to exit the operations of AIQ. The results of this business were reflected in Divested and Run-off Businesses, and all prior period amounts were restated at that time.
•Prudential of Argentina (“POA”)—In the first quarter of 2024, we entered into a definitive agreement to sell POA. The results of this business and the impact of its anticipated sale were transferred from the International Businesses segment to Divested and Run-off Businesses at that time. The sale was completed in the second quarter of 2024.
•Full Service Retirement Business—In the third quarter of 2021, we entered into a definitive agreement to sell our Full Service Retirement business. The results of this business and the impact of its anticipated sale were transferred from the Retirement segment to Divested and Run-off Businesses at that time. The sale was completed in the second quarter of 2022.



 
13
Table of Contents

Closed Block Division
 
In connection with the demutualization in 2001, we ceased offering domestic participating individual life insurance and annuity products under which policyholders are eligible to receive policyholder dividends reflecting experience. The liabilities for our individual in-force participating products were segregated, together with assets to be used exclusively for the payment of benefits and policyholder dividends, expenses and taxes with respect to these products, in the Closed Block. We selected the amount of assets that were expected to generate sufficient cash flow, together with anticipated revenues from the Closed Block policies, over the life of the Closed Block to fund payments of all policyholder benefits, expenses and taxes, and to provide for the continuation of the policyholder dividend scales that were in effect in 2000, assuming experience underlying such scales continued. No policies sold after demutualization have been added to the Closed Block, and its in-force business is expected to decline as we pay policyholder benefits in full.

The results of the Closed Block, along with certain related assets and liabilities, comprise the Closed Block division, which is treated as a divested business under our definition of adjusted operating income and reported separately from the other Divested and Run-off Businesses that are included in our Corporate and Other operations.
 
As discussed in Note 16 to the Consolidated Financial Statements, if the performance of the Closed Block is more or less favorable than we originally assumed in funding, total dividends paid to Closed Block policyholders in the future may be greater or less than the total dividends that would have been paid to these policyholders if the policyholder dividend scales that were in effect in 2000 had been continued. A policyholder dividend obligation liability is established for any excess experience, which may be available for distribution over time to Closed Block policyholders as part of policyholder dividends, unless offset by future Closed Block experience that is less favorable than expected. This excess experience will not be available to shareholders. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from PICA’s assets outside of the Closed Block. Each year, the Board of Directors of PICA determines the dividends payable on participating policies for the following year based on the experience of the Closed Block, including investment income, net realized and unrealized investment gains and losses, mortality experience and other factors. See Note 23 to the Consolidated Financial Statements for revenues, income and loss, and total assets of the Closed Block division.
 
Our strategy is to maintain the Closed Block as required by our Plan of Reorganization over the time period of its gradual diminution as policyholder benefits are paid in full. We are permitted under the Plan of Reorganization, with the prior consent of the Commissioner of Banking and Insurance for the State of New Jersey, to enter into agreements to transfer all or any part of the risks underlying the Closed Block policies.

 
14
Table of Contents

Seasonality of Key Financial Items

The following chart summarizes our key areas of seasonality in our results of operations:

First QuarterSecond QuarterThird QuarterFourth Quarter
PGIMHigher compensation expense(1)
Individual
Life		Lowest underwriting gainsHighest underwriting gains
International BusinessesHighest premiums
Lower premiums
Lowest premiums
Corporate &
Other
Higher compensation expense(1)



All
Businesses
Impact of annual assumption updates(2)
Higher expenses(3)
__________
(1)Long-term compensation expense for retirement eligible employees is recognized when awards are granted, typically in the first quarter of each year.
(2)Impact of annual reviews and update of assumptions and other refinements. Excludes PGIM.
(3)Expenses are typically higher than the quarterly average in the fourth quarter.

15
Table of Contents
Reinsurance

We regularly enter into third-party reinsurance agreements as either the ceding entity or the assuming entity. We also enter into affiliated reinsurance agreements as both the ceding and assuming entity for capital management purposes. As a ceding entity, exposure to the risks reinsured is reduced by transferring certain rights and obligations of the underlying insurance product to a counterparty. Conversely, as an assuming entity, exposure to the risks reinsured is increased by assuming certain rights and obligations of the underlying insurance products from a counterparty.

We enter into reinsurance agreements as the ceding entity for a variety of reasons, but primarily to reduce exposure to loss, reduce risk volatility, provide additional capacity for future growth, facilitate the disposition of a block of business, and for capital management purposes. Under ceded reinsurance, we remain liable to the underlying policyholder if a third-party reinsurer is unable to meet its obligations. On a companywide basis, we evaluate the financial condition of reinsurers, monitor the concentration of counterparty risk and maintain collateral, as appropriate, to mitigate this exposure.

We enter into reinsurance agreements as the assuming entity as part of our normal product offering process (e.g., certain pension risk transfer products in our Institutional Retirement Strategies business) or in order to facilitate an acquisition of a block of business.

The following table summarizes our current uses of third-party reinsurance in each of the applicable reporting segments and our Corporate and Other operations. For additional details related to certain of these agreements, see Note 15 to the Consolidated Financial Statements.

16
Table of Contents
SegmentPrimary Type
of Reinsurance		Purpose
Corporate and Other
CededCeded reinsurance of certain retirement products in conjunction with our 2022 sale of the Full Service Retirement business. See Note 1 to the Consolidated Financial Statements for additional information regarding this sale.
Retirement StrategiesCeded/Assumed
Institutional Retirement Strategies
Ceded reinsurance of certain structured settlement annuity contracts issued by PICA.
Assumed reinsurance as part of our international reinsurance pension risk transfer products.
Individual Retirement Strategies
Ceded reinsurance includes the following products:
•A portion of Highest Daily Lifetime Income (“HDI”) v.3.0 variable annuity business issued between April 1, 2015 to December 31, 2016;
•Certain fixed indexed annuity business (specifically for PruSecure® and SurePath®) issued on or after October 15, 2019;
•Fixed indexed annuities and fixed annuities with guaranteed lifetime withdrawal benefits issued on or after July 1, 2019; and
•Certain Prudential Defined Income (“PDI”) traditional variable annuity contracts with guaranteed living benefits issued by Pruco Life Insurance Company between February 1, 2013 to December 31, 2020.
Assumed reinsurance in conjunction with our 2006 acquisition of The Allstate Corporation (“Allstate”) variable annuity business and reinsurance of certain annuity products retained in connection with the sale of PALAC. See Note 1 to the Consolidated Financial Statements for additional information regarding this sale.
Group InsuranceCeded
Ceded reinsurance on most products to limit losses from large claims, in response to client requests and for capital management purposes.
Individual LifeCeded/Assumed
Ceded reinsurance covering a variety of products to reduce market sensitivity and mitigate mortality risk. On policies sold since 2000, we have reinsured a significant portion of our mortality risk externally, with that portion varying over time depending on market factors and strategic objectives. During 2024, we reinsured a significant portion of our in-force guaranteed universal life block of business in two separate transactions.

Assumed reinsurance in conjunction with our 2013 acquisition of The Hartford’s individual life insurance business.
International BusinessesCeded
Ceded reinsurance to mitigate mortality and morbidity risk for certain products and also for capital management purposes.

Intangible and Intellectual Property
 
We capture and protect the innovation in our financial services products by applying for federal business method patents and implementing copyright and trade secret controls, as appropriate. We also use numerous federal, state, common law and foreign service marks, including in particular “Prudential,” the “Prudential logo,” our “Rock” symbol and “PGIM.” We believe that the value associated with many of our patents, copyrights and trade secrets, and the goodwill associated with many of our service marks, are significant competitive assets.

Since 2004, we have had an agreement with Prudential plc of the United Kingdom (“U.K.”), with whom we have no affiliation, concerning the parties’ respective rights worldwide to use the names “Prudential” and “Pru.” Since 2019, the agreement has also included M&G plc of the U.K., the parent of The Prudential Assurance Company Limited, following its demerger from Prudential plc. The agreement restricts use of the “Prudential” and “Pru” names and marks in a number of countries outside the Americas, including Europe, Africa and most parts of Asia. Where these limitations apply, we combine our “Rock” symbol with alternative word marks. We believe that these limitations do not materially affect our ability to operate or expand internationally.
 


17
Table of Contents
Regulation
 
Overview
 
Our businesses are subject to comprehensive regulation and supervision. The purpose of these regulations is primarily to protect our customers and the overall financial system and not necessarily our shareholders or debt holders. Many of the laws and regulations to which we are subject are regularly re-examined. Existing or future laws and regulations may become more restrictive or otherwise adversely affect our operations or profitability, increase compliance costs, or increase potential regulatory exposure. In recent years we have experienced, and expect to continue to experience, extensive changes in the laws and regulations, and regulatory frameworks applicable to our businesses in the U.S. and internationally. We cannot predict how current or future initiatives will further impact existing laws, regulations and regulatory frameworks.

In our international businesses, regulations may apply heightened requirements to non-domestic companies, which can reduce our flexibility as to intercompany transactions, investments and other aspects of business operations and adversely affect our liquidity and profitability. In some instances, regulators of a particular country may impose different, or more rigorous laws and requirements than in the U.S. or other countries to protect customers or their financial system from perceived systemic risk, including regulations governing privacy, consumer protection, employee protection, corporate governance and capital adequacy. In addition, certain of our international operations face political, legal, operational and other risks that we may not face in the U.S., including the risk of discriminatory regulation, labor issues in connection with independent contractor or franchisee status, workers’ associations and trade unions, nationalization or expropriation of assets, price controls and currency exchange controls or other restrictions that limit our ability to transfer funds from these operations out of the countries in which they operate or to convert local currencies we hold into U.S. dollars or other currencies. Some jurisdictions in which we operate joint ventures restrict our maximum percentage of ownership, which exposes us to additional operational, compliance, legal and joint venture partner risks and limits our array of potential remedies in the event of a breach by a partner.

The primary regulatory frameworks applicable to the Company are described further below under the following section headings:

•Dodd-Frank Wall Street Reform and Consumer Protection Act
•ERISA
•Fiduciary Rules and other Standards of Care
•U.S. State Insurance Holding Company Regulation
•U.S. Insurance Operations
◦State Insurance Regulation
◦U.S. Federal and State Securities Regulation Affecting Insurance Operations
◦U.S. Federal and State Health Insurance Plan Regulation
◦Other Consumer Protection Regulation
•International Insurance Regulation
•U.S. Investment and Retirement Products and Investment Management Operations
•U.S. Securities and Commodity Operations
•International Investment and Retirement Products and Investment Management Operations
•Derivatives Regulation
•Privacy, Data Protection and Cybersecurity Regulation
•Artificial Intelligence
•Anti-Money Laundering and Anti-Bribery Laws
•Environmental Laws and Regulations
•Unclaimed Property Laws
•Taxation
◦U.S. Taxation
◦International Taxation
•International and Global Regulatory Initiatives
 
Dodd-Frank Wall Street Reform and Consumer Protection Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) increased the potential for federal
18
Table of Contents
regulation of our businesses. Under Dodd-Frank, the Financial Stability Oversight Council (“FSOC” or the “Council”) may designate a financial company as a non-bank systemically important financial institution (a “SIFI”) subject to supervision by the Board of Governors of the Federal Reserve System (“FRB”) if the FSOC determines that either (i) material financial distress at the entity, or (ii) the nature, scope, size, scale, concentration, interconnectedness, or mix of the entity’s activities, could pose a threat to domestic financial stability. In November 2023, the FSOC adopted revisions to SIFI designation guidance and the accompanying analytical framework for assessing risks from companies and activities, which will make it easier to designate financial companies as SIFIs going forward. Prudential is not currently designated as a SIFI.

We cannot predict what actions the FSOC will take with respect to designating Prudential or whether interpretive guidance, new legislation or other initiatives aimed at revising Dodd-Frank and regulation of the financial system will impact the Company.

ERISA
 
The Employee Retirement Income Security Act (“ERISA”) is a comprehensive federal statute that applies to U.S. employee benefit plans sponsored by private employers and labor unions. Plans subject to ERISA include pension and profit-sharing plans and welfare plans, including health, life and disability plans. ERISA provisions include reporting and disclosure rules, standards of conduct that apply to plan fiduciaries and prohibitions on transactions known as “prohibited transactions,” such as conflict-of-interest transactions and certain transactions between a benefit plan and a party in interest. ERISA also provides for civil and criminal penalties and enforcement. Our insurance, investment management and retirement businesses provide services to employee benefit plans subject to ERISA, including services where we may act as an ERISA fiduciary. In addition to ERISA regulation of businesses providing products and services to ERISA plans, we become subject to ERISA’s prohibited transaction rules for transactions with those plans, which may affect our ability to enter transactions, or the terms on which transactions may be entered, with those plans, even in businesses unrelated to those giving rise to party in interest status. For some of the services we provide to employee benefit plans subject to ERISA, we rely on an exemption from the prohibited transaction rules available, under certain circumstances, to qualified professional asset managers (“QPAMs”). Were we to lose our status as a QPAM, our investment management business could be adversely impacted. The loss of QPAM status could result from, among other things, us or an affiliate (potentially including a joint venture partner over whom we exercise no or limited control) being convicted of a “covered” crime in the U.S. or in a foreign jurisdiction. In June 2024, the U.S. Department of Labor (“DOL”) expanded the definition of “prohibited misconduct” that could result in the loss of QPAM status to include conduct that is the subject of non-prosecution or deferred prosecution agreements.

Fiduciary Rules and Other Standards of Care

The Company and our distributors are subject to rules regarding the standard of care applicable to sales of our products and the provision of advice to our customers, including, among others, the DOL fiduciary rule, the Securities and Exchange Commission (“SEC”) Regulation Best Interest, and the National Association of Insurance Commissioners (“NAIC”) and Japanese Financial Services Agency (“FSA”) Standard of Care regulations.

DOL Fiduciary Rule

The DOL fiduciary rule is a set of regulations establishing a uniform standard of care for investment professionals who provide advice to retirement savers. The rule is designed to ensure that investment professionals who are “fiduciaries” under the rule act in the best interest of their clients. The rule provides, among other things, that fiduciaries may not recommend investments that they own or in which they have a financial interest. The rule also requires fiduciaries to provide clients with certain information about their investment recommendations, including information about fees and risks. Compliance with the DOL fiduciary rule has resulted in increased costs.

In April 2024, the DOL adopted a final rule, which had been proposed in October 2023, titled the “Retirement Security Rule,” and issued final amendments to several prohibited transaction class exemptions (“PTEs”) available to investment advice fiduciaries. Key aspects of the final rule include, among other things: (1) a broader definition of “investment advice fiduciary,” which includes financial service providers who give compensated investment advice to individual retirement account owners, participants in workplace plans such as 401(k)s, and plan officials responsible for administering plans and managing plan assets; and (2) when relying on the amended PTEs, the requirement to comply with various conditions such as providing clients with certain information about their investment recommendations and complying with a best interest standard of care. The amended PTEs allow fiduciaries to engage in certain transactions that would otherwise be prohibited, provided they meet certain conditions designed to protect retirement investors.

19
Table of Contents
The final rule and amended PTEs were scheduled to become effective in September 2024, with a one-year phase in period for certain conditions of the amended PTEs; however, there are pending legal challenges to the rule which could, among other things, delay its implementation in whole or in part. In July 2024, two United States District Courts issued orders staying the effective date of the rule during the pendency of the suits and any appeals.

SEC Regulation Best Interest

In June 2019, the SEC adopted a package of rulemakings and interpretative guidance that, among other things, requires broker-dealers to act in the best interest of retail customers when recommending securities transactions or investment strategies to them. The guidance also clarifies the SEC’s views of the fiduciary duty that investment advisers owe to their clients. The best interest standards became effective on June 30, 2020. The standards apply to recommendations to purchase certain products offered by our PGIM, Retirement Strategies and Individual Life businesses, and have resulted in increased compliance costs, which we include in the results of our Corporate and Other operations.

NAIC Standard of Care

In February 2020, the NAIC adopted revisions to the model suitability rule applicable to the sale of annuities. The revised model regulation provides that the insurance salesperson must act “without placing the producer’s or the insurer’s financial interest ahead of the consumer’s interest.” The model rule will become applicable to us as it is adopted in each state. In addition, certain state regulators and legislatures have adopted or are considering adopting their own best interest standards. For example, in July 2018, the New York State Department of Financial Services (“NY DFS”) issued an amendment to its suitability regulations which imposes a best-interest standard on the sale of annuity and life insurance products in New York and in February 2020, the Massachusetts Securities Division adopted a fiduciary standard of conduct which applies to broker-dealers and its agents.

Japan Standard of Care

Outside the U.S., in 2017 the Japanese Financial Services Agency (“FSA”) announced the “Principles for Customer-Oriented Business Conduct,” a set of recommended fiduciary principles for financial institutions to adopt when performing client related financial services. The principles were further amended in 2021 to enhance details thereof, such as adopting a common information form that enables customers to compare product details of different financial institutions. In 2024, the principles were expanded to introduce product governance. The principles have been adopted by The Prudential Life Insurance Company Ltd. (“Prudential of Japan”), Gibraltar Life, and The Prudential Gibraltar Financial Life Insurance Co., Ltd. (“PGFL”). The FSA encourages voluntary adoption of these principles as a best practice but adoption is not required by regulation, except for the principle of conducting business in good faith and with fairness while considering the best interests of customers, which is a statutory obligation. Companies’ policies regarding their own principles can be tailored based on their specific business, such as target clients and complexity of products. Once companies adopt the principles and establish a policy, they are required to publicly disclose the policy, implement measures to ensure their employees fulfill their principles, periodically assess the measures’ effectiveness and publish the progress of these measures.

U.S. State Insurance Holding Company Regulation
 
We are subject to the insurance holding company laws in the states where our insurance subsidiaries are domiciled, which currently include New Jersey, Arizona and Indiana, or are treated as commercially domiciled, such as New York. These laws generally require each insurance company directly or indirectly owned by the holding company to register with the insurance department in the insurance company’s state of domicile and to furnish annually financial and other information about the operations of companies within the holding company system, including an assessment of the group’s risk management and current and future solvency position. Generally, all transactions among affiliates, including an insurer in the holding company system, must be fair and reasonable and, if material, require prior notice and approval or non-disapproval by the state’s insurance department.
 
Change of Control

Most states, including the states in which our U.S. insurance companies are domiciled, have insurance laws that require regulatory approval of a direct or indirect change of control of an insurer or an insurer’s holding company. Laws such as these that apply to us prevent any person from acquiring control of Prudential Financial or of our insurance subsidiaries unless that person has filed a statement with specified information with the insurance regulators and has obtained their prior approval. Under most states’ statutes, acquiring 10% or more of the voting stock of an insurance company or its parent company is presumptively considered a change of control, although such presumption may be rebutted. As of January 2022, New Jersey has
20
Table of Contents
recognized an additional presumption of control upon the holding or controlling of enough proxies to elect 10% or more of the board of directors of a New Jersey-domiciled insurance company or its parent company. Accordingly, any person who acquires “control” of Prudential Financial, either by the acquisition of voting securities or, in the case of New Jersey, by the accumulation of proxies without the prior approval of the applicable insurance regulator of the states in which our U.S. insurance companies are domiciled will be in violation of these states’ laws and may be subject to injunctive action requiring the disposition or seizure of those securities or proxies by the relevant insurance regulator or prohibiting the voting of those securities or proxies and to other actions determined by the relevant insurance regulator. In addition, many state insurance laws require prior notification to state insurance departments of a change in control of a non-domiciliary insurance company doing business in that state.
 
Group-Wide Supervision
 
The New Jersey Department of Banking and Insurance (“NJDOBI”) acts as the group-wide supervisor of Prudential Financial pursuant to New Jersey legislation that authorizes group-wide supervision of internationally active insurance groups (“IAIGs”). The law, among other provisions, authorizes NJDOBI to examine Prudential Financial and its subsidiaries, including by ascertaining the financial condition of the insurance companies for purposes of assessing enterprise risk. In accordance with this authority, NJDOBI receives information about the Company’s operations beyond those of its New Jersey domiciled insurance subsidiaries.

Additional areas of focus regarding group-wide supervision of insurance holding companies include the following:

•Examination. State insurance departments conduct periodic examinations of the books and records, financial reporting, policy filings and market conduct of insurance companies domiciled in their states, generally once every three to five years under guidelines promulgated by the NAIC. As group-wide supervisor, NJDOBI, along with our other insurance regulators, has expanded the periodic examinations to cover Prudential and all of its subsidiaries. In 2023, NJDOBI, along with the insurance regulators of Arizona, Connecticut and Indiana, concluded a global consolidated group-wide examination of Prudential and its subsidiaries for the five-year period ended December 31, 2021, with no reportable findings or statutory violations.
•Group Capital Calculation. The NAIC has developed and implemented a group capital calculation that uses a risk-based capital (“RBC”) aggregation methodology to serve as an additional tool to help state regulators assess potential risks within and across insurance groups.
•College of Supervisors. Several of our domestic and foreign regulators participate in an annual supervisory college facilitated by NJDOBI. The purpose of the supervisory college is to promote ongoing supervisory coordination, facilitate the sharing of information among regulators and enhance each regulator’s understanding of the Company’s risk profile.

We cannot predict what, if any, additional requirements and compliance costs any new group-wide standards will impose on Prudential Financial.

U.S. Insurance Operations

State Insurance Regulation

State insurance laws regulate all aspects of our U.S. insurance businesses. State insurance departments in the fifty states, the District of Columbia and various U.S. territories and possessions monitor our insurance operations. PICA is domiciled in New Jersey and its principal insurance regulatory authority is the NJDOBI. Our other U.S. insurance companies are principally regulated by the insurance departments of the states in which they are domiciled. Generally, our insurance products must be approved by the insurance regulators in the state in which they are sold. Our insurance products are substantially affected by federal and state tax laws.
 
State insurance authorities have broad administrative powers with respect to all aspects of the insurance business including: (1) licensing to transact business; (2) licensing agents; (3) admittance of assets to statutory surplus; (4) regulating premium rates for certain insurance products; (5) approving policy forms; (6) regulating unfair trade and claims practices; (7) establishing reserve requirements and solvency standards; (8) fixing maximum interest rates on life insurance policy loans and minimum accumulation or surrender values; (9) regulating the type, amounts and valuations of investments permitted; (10) regulating reinsurance transactions, including the role of captive reinsurers; and (11) other matters.
 
State insurance laws and regulations, including the NAIC’s Insurance Holding Company Act Model #440, require our U.S. insurance companies to file financial statements with the domestic regulators for each insurer, in accordance with
21
Table of Contents
accounting practices and procedures prescribed or permitted by the department. The operations of our U.S. insurance companies and accounts are subject to financial examination by the domiciliary department at any time. In accordance with Model #440, other states typically defer to the primary domestic supervisor on financial statements and oversight, so long as that domestic supervisor’s state is accredited.

Financial Regulation
 
Dividend Payment Limitations. New Jersey insurance law and the insurance laws of the other states in which our insurance companies are domiciled regulate the amount of dividends that may be paid by PICA and our other U.S. insurance companies. See Note 17 to the Consolidated Financial Statements for additional information.
 
Risk-Based Capital. We are subject to RBC requirements that are designed to enhance regulation of insurers’ solvency. The RBC calculation, which regulators use to assess the sufficiency of an insurer’s statutory capital, measures the risk characteristics of a company’s assets, liabilities and certain off-balance sheet items. In general, RBC is calculated by applying factors to various asset, premium, claim, expense and reserve items. Within a given risk category, these factors are higher for those items with greater underlying risk and lower for items with lower underlying risk. Insurers that have less statutory capital than required are considered to have inadequate capital and are subject to varying degrees of regulatory action depending upon the level of capital inadequacy.

The RBC framework is subject to periodic reexamination or revision. Due to the ongoing nature of the NAIC’s activities regarding RBC, we cannot determine the ultimate timing of proposed changes or their impact to the Company.

Generator of Economic Scenarios (“Generator”). In 2017, the American Academy of Actuaries notified the NAIC that it did not have the resources to maintain its Generator used in regulatory reserve and capital calculations. In 2020, the NAIC selected a third-party vendor to provide, maintain, and support the Generator prescribed for life and annuity statutory reserve and capital calculations. NAIC expects implementation to occur no earlier than 2026. Due to the ongoing nature of the NAIC’s activities regarding the Generator, we cannot predict what impact a new Generator may ultimately have on our businesses.
 
Insurance Reserves. State insurance laws require us to analyze the adequacy of our reserves annually. The respective appointed actuaries for each of our life insurance companies must each submit an opinion that our reserves, when considered in light of the assets we hold with respect to those reserves, make adequate provision for our contractual obligations and related expenses.

Principle-Based Reserving for Life Insurance Products. In 2016, the NAIC adopted a principle-based reserving (“PBR”) approach for life insurance products. Principle-based reserving replaces the reserving methods for life insurance products for which the former formulaic basis for reserves may not accurately reflect the risks or costs of the liability or obligations of the insurer. PBR will not affect reserves for policies in force prior to January 1, 2017. We use captive reinsurance subsidiaries to finance the portion of statutory reserves for term and universal life policies that we consider to be non-economic for policies written prior to the implementation of PBR. See “Management’s Discussion and Analysis of Financial Condition and Results of Operation—Liquidity and Capital Resources—Capital Financing Activities—Term and Universal Life Reserve Financing” for a discussion of our life product reserves and reserve financing.

Variable Annuities Framework Change. In 2019, the NAIC adopted final revisions to the Valuation Manual (“VM-21”) and risk-based capital instructions to implement a new variable annuity statutory framework for 2020. Changes include: (i) providing more economic reflection of hedging in liability valuations; (ii) eliminating the Standard Scenario and replacing it with the Standard Projection; and (iii) standardizing capital market assumptions and aligning frameworks for total asset requirements and reserves. There was no material impact to our target capital levels from the revised framework. The NAIC may update prescribed assumptions and/or methodologies and will be considering whether the calculation should be a binding requirement or disclosure only.

New York Annuity and Life Insurance Product Reserves. As a result of an agreement with the NY DFS regarding our reserving methodologies for certain variable annuity and life insurance products, certain of our New York licensed insurance subsidiaries hold additional statutory reserves on a New York basis, which reduces their New York statutory surplus. None of our U.S. operating insurance companies are domiciled in New York, and these changes do not impact statutory reserves reported in our insurance subsidiaries’ states of domicile, or any states other than New York, and therefore do not impact RBC ratios; however, the agreed reserve methodologies may require us to increase our additional New York statutory reserves in the future. New York’s version of PBR, which became effective in January 2020, allows for modifications to the NAIC valuation model and New York’s modifications might require us to increase our New York statutory reserves.

22
Table of Contents
Yearly Renewable Term Reinsurance Reserve Credit. In August 2021, the NAIC adopted a limit on yearly renewable term (“YRT”) reserve credits (Amendment Proposal Form 2020-10). The adoption requires insurers to complete the phase-in of pre-2020 PBR business by December 31, 2024, unless an insurer receives an additional extension of up to four years by their domiciliary commissioner. Prudential was granted approval for a seven-year transition along with an adjustment to the starting point for the year ended December 31, 2021. The amendment allows a prudent level of future mortality improvement (“FMI”) beyond the valuation date starting in 2022.

Reinsurance. The NAIC is working on several initiatives related to the use of reinsurance, including asset adequacy testing. Due to the ongoing nature of this work, we cannot predict what, if any, impact these initiatives will have on our businesses.

Interest Maintenance Reserve. In August 2023, the NAIC adopted a temporary change in the statutory accounting treatment of net negative interest maintenance reserves (“IMR”) that permits an insurer to admit net negative IMR up to 10% of their adjusted statutory surplus, provided such insurer’s RBC ratio remains above 300% of its Authorized Control Level RBC. This change is currently scheduled to expire on January 1, 2026.
Market Conduct Regulation

State insurance laws and regulations include numerous provisions governing the marketplace activities of insurers, including provisions governing the form and content of disclosure to consumers, illustrations, advertising, sales practices and complaint handling, as well as underwriting and claims activity. State regulatory authorities generally enforce these provisions through periodic market conduct examinations. We have been subject to market conduct examinations relating to our marketplace activities, including with respect to the policies and procedures we use to locate guaranteed group annuity customers and establish related reserves. Market conduct examinations by state regulatory authorities have resulted and may in the future result in us increasing statutory reserves, changing operational processes and procedures, and being subject to fines or other discipline.
 
Insurance Guaranty Association Assessments

Each state has insurance guaranty association laws under which insurers doing business in the state are members and may be assessed by state insurance guaranty associations for certain obligations of insolvent insurance companies to policyholders and claimants. Typically, states assess each member insurer in an amount related to the member insurer’s proportionate share of the business written by all member insurers in the state. The majority of state guaranty association laws provide a tax offset for a percentage of the assessment against future years’ premium taxes. For the years ended December 31, 2024, 2023 and 2022, we paid $71 million, $0.7 million and $0.4 million, respectively, in assessments pursuant to state insurance guaranty association laws. While we cannot predict the amount and timing of future assessments on our U.S. insurance companies under these laws, we have established estimated reserves totaling approximately $29 million as of December 31, 2024, for future assessments relating to insurance companies that are currently subject to insolvency proceedings.
 
U.S. Federal and State Securities Regulation Affecting Insurance Operations
 
Our variable life insurance, variable annuity and mutual fund products generally are “securities” within the meaning of federal securities laws and may be required to be registered under the federal securities laws and subject to regulation by the SEC and the Financial Industry Regulatory Authority (“FINRA”). Certain of our insurance subsidiaries are subject to SEC public reporting and disclosure requirements based on offerings of these products. Federal and some state securities regulation similar to that discussed below under “—U.S. Investment and Retirement Products and Investment Management Operations” and “—U.S. Securities and Commodities Regulation” affect investment advice, sales and related activities with respect to these products.
 
Our mutual funds, and in certain states our variable life insurance and variable annuity products, are also “securities” within the meaning of state securities laws. As securities, these products are subject to filing and certain other requirements. Also, sales activities with respect to these products generally are subject to state securities regulation. Such regulation may affect investment advice, sales and related activities for these products.

International Insurance Regulation
 
Our international insurance operations are principally supervised by regulatory authorities in the jurisdictions in which they operate, including the FSA, the financial services regulator in Japan. In addition to Japan, we operate insurance companies in Bermuda, Brazil and Mexico, and have insurance operations in China, India and Indonesia through joint ventures. We also
23
Table of Contents
have strategic investments in insurance operations in Ghana, Kenya and South Africa. The insurance regulatory bodies for these businesses typically oversee such issues as: (1) company licensing; (2) the licensing of insurance sales staff; (3) insurance product approvals; (4) sales practices; (5) claims payment practices; (6) permissible investments; (7) solvency and capital adequacy; (8) insurance reserves; (9) privacy; and (10) anti-money laundering and financial crimes, among other items. In some jurisdictions, for certain products, regulators will also mandate premium rates (or components of pricing) or minimum guaranteed interest rates. Periodic examinations of insurance company books and records, financial reporting requirements, market conduct examinations and policy filing requirements are among the techniques used by these regulators to supervise our non-U.S. insurance businesses. Finally, insurance regulatory authorities in certain jurisdictions in which our insurance companies are domiciled, including Japan, must approve any change of control of the insurance companies organized under their laws.

Solvency Regulation

In order to monitor insurers’ solvency, regulatory authorities in the jurisdictions in which we operate outside the U.S. generally establish some form of minimum solvency requirements for insurance companies, similar in concept to the RBC ratios that are employed by U.S. insurance regulators. These solvency ratios are used by regulators to assess the sufficiency of an insurer’s capital and claims-paying ability and include the impact of transactions with affiliated entities. Certain jurisdictions require the disclosure of solvency ratios to the public. Insurers that have lower solvency ratios than the regulators require are considered to have inadequate capital and are subject to varying degrees of regulatory action depending upon the level of capital inadequacy.

Japan Capital and Solvency Regulation. Our Japan insurance operations are currently subject to a capital standard known as the Solvency Margin Ratio (“SMR”) framework. This standard prescribes the manner in which an insurance company’s capital is calculated and is meant to respond to changes in financial markets, improve risk management practices of insurers and consider risks associated with the insurer’s subsidiaries. The FSA is developing a new market-based alternative to the SMR framework called the Economic Solvency Ratio (“ESR”), which will be implemented in 2025 with disclosure under the new framework required in 2026.

Dividend Payment Limitations

The insurance regulatory bodies in some of the countries where our international insurance businesses are located regulate the amount of dividends that our subsidiaries can pay to shareholders. See Note 20 to the Consolidated Financial Statements for additional information regarding the ability of our international subsidiaries to pay dividends.
 
Insurance Guaranty Fund Assessments

Certain of our international insurance operations, including those in Japan, may be subject to assessments, generally based on their proportionate share of business written in the relevant jurisdiction, for certain obligations of insolvent insurance companies to policyholders and claimants. In certain jurisdictions, we cannot predict the timing of future assessments and they may materially affect the results of operations of our international insurance operations, in particular quarterly or annual periods. Under the Japanese insurance business law, all licensed life insurers in Japan are required to be members of and are assessed, on a pre-funded basis, by the Japan Policyholders Protection Corporation (“PPC”). These assessments generate a collective fund which is used to satisfy certain obligations of insolvent insurance companies to policyholders and claimants. The PPC assesses each member in an amount related to its premium income and policy reserves. There were no payments made for the years ended December 31, 2024 and 2023. For the year ended December 31, 2022, we paid approximately $12 million, based on fixed currency exchange rates, in assessments pursuant to Japanese insurance guaranty association laws.

Bermuda Insurance Regulation

Prudential’s subsidiaries Gibraltar Reinsurance Company Ltd. and Lotus Reinsurance Company Ltd., as well as Prismic, in which Prudential has a significant equity interest, are Bermuda exempted companies with liability limited by shares and each is registered as a Class E (re)insurer under the Bermuda Insurance Act 1978, and related regulations as amended from time to time (“Bermuda Insurance Act”). By virtue of their registration under the Bermuda Insurance Act, these companies are supervised by the Bermuda financial services regulator, the Bermuda Monetary Authority (“BMA”). The Bermuda Insurance Act grants to the BMA powers to supervise, investigate and intervene in the affairs of (re)insurance companies as part of the BMA’s risk-based regulatory approach. The Bermuda Insurance Act imposes solvency, capital and liquidity standards and auditing and reporting requirements on Bermuda (re)insurance companies. This includes prohibiting companies from declaring or paying any dividends during any financial year unless certain financial conditions are met and/or prior approval from the BMA is received.
24
Table of Contents

U.S. Investment and Retirement Products and Investment Management Operations
 
Our retirement and investment products and services are subject to federal and state securities and fiduciary laws, ERISA, and other laws and regulations. The SEC, FINRA, the Commodity Futures Trading Commission (“CFTC”), National Futures Association (“NFA”), state securities commissions, state banking and insurance departments, DOL and the Department of the Treasury are the principal U.S. regulators that regulate our retirement and investment management operations. In some cases, our domestic U.S. investment operations are also subject to non-U.S. securities laws and regulations.

Some of the separate account, registered fund and other pooled investment products offered by our businesses, in addition to being registered under the Securities Act, are registered as investment companies under the Investment Company Act of 1940, as amended, and the shares of certain of these entities are qualified for sale in some states and the District of Columbia. Separate account investment products are also subject to state insurance regulation as described above. We also have several subsidiaries that are registered as broker-dealers under the Securities Exchange Act of 1934 (“Exchange Act”), as amended, and are subject to federal and state regulation. In addition, we have subsidiaries that are investment advisers registered under the Investment Advisers Act of 1940, as amended. Our third-party advisors and licensed sales professionals within Prudential Advisors and other employees, insofar as they sell products that are securities, are subject to the Exchange Act and to examination requirements and regulation by the SEC, FINRA and state securities commissioners. Regulation and examination requirements also extend to various Prudential entities that employ or control those individuals.

Congress from time to time considers or enacts legislation that could decrease or increase the attractiveness of certain of our retirement products and services to retirement plan sponsors and administrators or that could have an unfavorable or favorable effect on our ability to earn revenues from these products and services. Over time, these changes could limit our sales of defined benefit and defined contribution pension products and services and cause sponsors to discontinue existing plans for which we provide investment management, administrative, or other services; conversely, these changes could also increase the attractiveness of certain products and services we offer in connection with such plans.

The Setting Every Community up for Retirement Enhancement (“SECURE”), enacted in 2020, together with SECURE 2.0, which was enacted in 2022 as part of the 2023 Consolidated Appropriations Act (collectively, the “SECURE Act”), is intended to help promote retirement plan coverage and increase retirement plan savings, as well as facilitate access to guaranteed lifetime income solutions. The SECURE Act addresses coverage issues by making it easier for small businesses to participate in pooled employer plans and requires coverage of certain long-term, part-time workers. The SECURE Act addresses savings issues by raising the cap on amounts contributed through auto-enrollment, increasing the maximum age for required minimum withdrawals and removing the age cap for making Individual Retirement Account (“IRA”) contributions. The SECURE Act also made it easier for employers to include guaranteed lifetime income as part of their plan by providing an annuity provider selection safe harbor, as well as providing for the portability of participant investments in annuity products.
 
U.S. Securities and Commodity Operations
 
We have subsidiaries that are broker-dealers or investment advisers. The SEC, the CFTC, state securities authorities, FINRA, the NFA, the Municipal Securities Rulemaking Board, and similar authorities are, as applicable, the principal regulators of these subsidiaries.
 
Our broker-dealer and commodities affiliates are members of, and are subject to regulation by, “self-regulatory organizations,” including FINRA and the NFA, as applicable. Self-regulatory organizations conduct examinations of, and have adopted rules governing, their members. In addition, state securities and certain other regulators have regulatory and oversight authority over our registered broker-dealers. Broker-dealers and their sales forces in the U.S. and in certain other jurisdictions are subject to regulations that cover many aspects of the securities business, including sales methods and trading practices. The regulations cover the suitability of investments for individual customers, use and safekeeping of customers’ funds and securities, capital adequacy, recordkeeping, financial reporting and the conduct of directors, officers and employees. The SEC, CFTC and other governmental agencies and self-regulatory organizations, as well as state securities commissions in the U.S. and non-U.S. regulatory agencies, have the power to conduct administrative proceedings that can result in censure, fine, the issuance of cease-and-desist orders or suspension, termination or limitation of the activities of a broker-dealer, an investment adviser or commodities firm or its employees. Our U.S. registered broker-dealer subsidiaries are subject to federal net capital requirements that may limit the ability of these subsidiaries to pay dividends to Prudential Financial.

International Investment and Retirement Products and Investment Management Operations

Our non-insurance international operations are supervised primarily by regulatory authorities in the countries in which
25
Table of Contents
they operate. We operate investment-related businesses in, among other jurisdictions, Japan, Taiwan, the U.K., Ireland, India, Hong Kong, Mexico, Germany, Luxembourg, the Netherlands, Switzerland, China and Singapore, and participate in investment-related joint ventures in China and South Africa and in a retirement related joint venture with operations in Chile, Peru and Colombia. These businesses may provide products such as investment management products and services, funds, separately managed accounts and retirement products. The regulatory authorities for these businesses typically oversee such issues as: (1) company licensing; (2) the licensing of investment product sales staff; (3) sales practices; (4) solvency and capital adequacy; (5) fund product approvals and related disclosures; and (6) securities, commodities, retirement, pension and related laws, among other items. In some cases, our international investment operations are also subject to U.S. securities laws and regulations.

Derivatives Regulation
 
Prudential Financial and our subsidiaries use derivatives for various purposes, including hedging interest rate, foreign currency, equity market and other exposures. Dodd-Frank established a framework for regulation of the over-the-counter derivatives markets. This framework sets out requirements regarding the clearing and reporting of derivatives transactions, as well as collateral posting requirements. Affiliated swaps entered into between our subsidiaries are generally exempt from most of these requirements.
 
We continue to monitor regulatory developments and the potential hedging cost impacts of margin requirements, and increased capital requirements for derivatives transactions. Additionally, the need to post cash and certain collateral may also require the liquidation of higher yielding assets for cash, resulting in a negative impact on investment income.

Privacy, Data Protection and Cybersecurity Regulation
 
We are subject to U.S. federal laws, regulations and directives that require financial institutions and other businesses to protect the security and confidentiality of personal, proprietary, or other non-public information, including intellectual property, health-related, and customer information, which they may handle and process, and to notify their customers and other appropriate individuals of their policies and practices relating to the collection, use and disclosure of such information. In addition, we are subject to international data protection and privacy laws, regulations, and directives concerning the safeguarding and protection of personal information, including as such laws relate to the cross-border transfer or use of personal information.

These laws, regulations and directives also:
 
•require protections regarding or limiting the use and disclosure of certain sensitive personal information such as national identifier numbers (e.g., social security numbers) or racial or ethnic origin;
•require notice to affected individuals, regulators and others if there is a breach of the confidentiality, integrity, or availability of certain personal or confidential information;
•require financial institutions and creditors to implement effective programs to detect, prevent, and mitigate identity theft;
•regulate the process by which financial institutions make telemarketing calls and send e-mail, text, or fax messages to consumers and customers;
•require oversight of third parties that have access to, and handle, personal or confidential information;
•provide individuals with certain rights over their personal information, such as the right to know what personal information is being collected and whether the information is being sold or shared, and the right to obtain portable copies of or request the deletion or correction of their personal information; and
•prescribe the permissible uses of certain personal information, including customer information and consumer report information.

Some countries have also instituted laws requiring in-country data processing and/or in-country storage of the personal information of its citizens, personal information collection in the jurisdiction, or other categories of in-scope data. Compliance with such laws may result in higher technology, administrative and other costs for us and affect how products and services are offered or require us to structure our businesses, operations and systems in less efficient ways.

Regulatory and legislative activity in the areas of privacy, data protection and information and cybersecurity continues to increase worldwide. Financial regulators in the U.S. and international jurisdictions in which we operate continue to focus on data privacy and cybersecurity, including in rulemaking and examinations of regulated entities, and have communicated heightened expectations. For example, the E.U.’s General Data Protection Regulation (“GDPR”), which became effective in
26
Table of Contents
May 2018, and the U.K.’s Data Protection Act 2018, confer additional privacy rights on individuals in the E.U. and U.K. and establish significant penalties for violations. Prudential business units (regardless of whether they are located in the E.U.) may be subject to the GDPR when personal data is processed in relation to the offer of goods and services to individuals within the E.U. or if we were to monitor the activities of individuals within the E.U. The E.U.’s Digital Operational Resilience Act came in force in January 2023 and became effective from January 2025. Internationally, a number of countries such as Brazil, India, and Japan have enacted GDPR-like regulations, while others, such as Argentina, are considering such regulations or, in the case of China, have enacted other privacy and data security regulations.

In addition, in the U.S., certain lawmakers in Congress have proposed a number of sweeping privacy laws, and amendments to the Gramm-Leach-Bliley Act of 1999 took effect in June 2023. In California, the California Consumer Privacy Act (the “CCPA”) became effective in 2020 and confers numerous privacy rights on individuals, including expanded privacy protections and control over the collection, use and sharing of their personal information, and corresponding obligations on businesses, including requirements to make certain disclosures to California consumers regarding personal information, among other privacy protective measures. Failure to comply with the CCPA risks regulatory fines, and the CCPA grants a private right of action and statutory damages for any unauthorized access and exfiltration, theft, or disclosure of certain types of personal information resulting from a violation of the duty to maintain reasonable security procedures and practices. The California Privacy Rights Act (the “CPRA”), which became operative in January 2023 and amends the CCPA, imposes additional rights and obligations including expanding consumers’ rights with respect to certain sensitive personal information. The CPRA also creates a new state agency that will be vested with authority to implement and enforce the CCPA, the CPRA and their regulations. Additionally, privacy laws in the United States continue to evolve, with states such as Colorado, Connecticut, Utah, and Virginia recently enacting comprehensive privacy and information security laws and regulations similar in scope to the CCPA and CPRA, and which, to the extent they apply, impose compliance obligations applicable to our business. Additional U.S. states are considering similar legislation, and there are ongoing discussions regarding a National Privacy Law. New laws similar to the GDPR and the CCPA are expected to be enacted in coming years in various countries and jurisdictions in which we operate.

In October 2017, the NAIC adopted the Insurance Data Security Model Law. The model law requires that, among other things, insurance companies establish a cybersecurity program and includes specific technical safeguards as well as requirements regarding governance, incident planning, data management, system testing, vendor oversight and regulator notification. The NY DFS adopted a regulation similar to the NAIC effective March 2017, and in November 2023, finalized amendments taking effect from December 2023 through November 2025 to expand their cybersecurity regulation, and include additional and new requirements regarding certification, governance, audit requirements, technology and business continuity, security control and training requirements, and notification obligations. More than 20 U.S. states have either enacted the NAIC Insurance Data Security Model Law or are anticipated to enact it or similar laws in the near future and we expect more states to follow. Such enactments, especially if inconsistent between states or with existing laws and regulations could raise compliance costs or increase the risk of noncompliance, with the attendant risk of being subject to regulatory enforcement actions and penalties, as well as reputational harm. In February 2023, the NAIC released updated model privacy legislation that expressly supersedes the NAIC Insurance Information and Privacy Protection Model Act #670 and the Privacy of Consumer Financial and Health Information Regulation #672, with states beginning to adopt the updated model law in 2024.

The Company is monitoring regulatory guidance and rulemaking in these areas, and may be subject to increased compliance costs and regulatory requirements. For additional information on our cybersecurity risk management and governance, see “Item 1C. Cybersecurity.”

Artificial Intelligence

Regulatory standards relating to the use of artificial intelligence (“AI”) are evolving in the countries where we do business, and may increase risks associated with bias, unfair discrimination, transparency, and information security. For example, the E.U. is in the process of introducing new regulations applicable to certain AI technologies and to the data used to train, test and deploy them. U.S. state regulators have also shown increasing concern about the use of AI and the potential for discrimination and bias in insurance practices. For example, in July 2024, the New York Department of Financial Services adopted Insurance Circular Letter No. 7 Re: Use of Artificial Intelligence Systems and External Consumer Data and Information Sources in Insurance Underwriting and Pricing, which imposes obligations on insurers using AI or external consumer data and information sources. In May 2024, Colorado passed Senate Bill 24-205 (“the Colorado AI Law”), which becomes effective on February 1, 2026, regulates certain AI systems, and imposes obligations on AI system deployers and developers doing business in Colorado. The application of existing law and introduction of new or revised laws and regulations may require changes in our operations, increased compliance costs and reduce benefits from our adoption of artificial intelligence technologies.

27
Table of Contents

Anti-Money Laundering and Anti-Bribery Laws
 
Our businesses are subject to various anti-money laundering and financial transparency laws and regulations that seek to promote cooperation among financial institutions, regulators and law enforcement entities in identifying parties that may be involved in terrorism or money laundering. In addition, under current U.S. law and regulations we may be prohibited from dealing with certain individuals or entities in certain circumstances and we may be required to monitor customer activities, which may affect our ability to attract and retain customers. We are also subject to various laws and regulations relating to corrupt and illegal payments to government officials and others, including the U.S. Foreign Corrupt Practices Act and the U.K.’s Anti-Bribery Law. The obligation of financial institutions, including the Company, to identify their clients, to monitor for and report suspicious transactions, to monitor dealings with government officials, to respond to requests for information by regulatory authorities and law enforcement agencies, and to share information with other financial institutions, has required the implementation and maintenance of internal practices, procedures and controls. 

Environmental Laws and Regulations
 
Federal, state and local environmental laws and regulations apply to our ownership and operation of real property. Inherent in owning and operating real property are the risks of hidden environmental liabilities and the costs of any required clean-up. Although unexpected environmental liabilities can always arise, we seek to minimize this risk by undertaking environmental assessments, among other measures prior to taking title to real estate.
 
Unclaimed Property Laws
 
We are subject to the laws and regulations of states and other jurisdictions concerning the identification, reporting and escheatment of unclaimed or abandoned funds, and we are subject to audit and examination for compliance with these requirements. For additional discussion of these matters, see Note 25 to the Consolidated Financial Statements.
 
Taxation

U.S. Taxation
 
The Company and certain domestic subsidiaries file a consolidated federal income tax return that includes both life insurance companies and non-life insurance companies. The principal differences between the Company’s actual income tax expense and the applicable statutory federal income tax rate are generally deductions for non-taxable investment income, including the Dividends Received Deduction (“DRD”), foreign taxes applied at a different tax rate than the U.S. rate and certain tax credits. The applicable statutory federal income tax rate is 21%. A future increase in the applicable statutory federal income tax rate above 21% would adversely impact the Company’s tax position. In addition, as discussed further below, the tax attributes of our products may impact both the Company’s and our customers’ tax positions. See “Income Taxes” in Note 2 to the Consolidated Financial Statements and Note 17 to the Consolidated Financial Statements for a description of the Company’s tax position. As discussed further below, new tax legislation and other potential changes to the tax law may impact the Company’s tax position and the attractiveness of our products.

The U.S. Tax Cuts and Jobs Act of 2017 (“Tax Act of 2017”) changed the taxation of businesses and individuals by lowering tax rates and broadening the tax base through the acceleration of taxable income and the deferral or elimination of certain deductions, as well as changing the system of taxation of earnings of foreign subsidiaries. The most significant changes for the Company were: (1) the reduction of the corporate tax rate from 35% to 21%; (2) revised methodologies for determining deductions for tax reserves and the DRD; (3) an increased capitalization and amortization period for acquisition costs related to certain products; and (4) the change from a worldwide deferred taxation system to a modified territorial system of taxation on applicable earnings of foreign subsidiaries, which includes (a) a tax on earnings of foreign subsidiaries (the Global Intangible Low-Taxed Income (“GILTI”) provision ) and (b) an alternative tax with respect to payments to non-U.S. affiliates that are at least 25% owned (the Base Erosion Anti-Abuse Tax (“BEAT”)).

The GILTI provision applies a minimum U.S. tax to earnings of foreign subsidiaries in excess of a 10% deemed return on tangible assets of consolidated foreign subsidiaries by imposing the U.S. tax rate to 50% of earnings of such foreign affiliates and provides for a partial foreign tax credit for foreign income taxes. Beginning in 2026, the GILTI provisions will increase the U.S. tax rate to 62.5% of such earnings. The amount of tax in any period on GILTI can depend on annual differences between U.S. taxable income recognition rules and taxable income recognition rules in the country of operations and the overall taxable income of U.S. operations, as well as U.S. expense allocation rules which limit the amount of foreign tax credits that can be
28
Table of Contents
applied to reduce the U.S. tax on the GILTI. Under certain circumstances, the taxable income of U.S. operations may cause more than 50% of earnings of foreign affiliates to be subject to the GILTI provision. In years that the U.S. consolidated PFI group incurs a net operating loss or has a loss from domestic businesses, including as a result of loss carrybacks, the GILTI provision would operate to cause a loss of U.S. tax benefits for some or all of those losses, effectively increasing the tax on foreign earnings.

The BEAT provision could, under certain conditions, increase our tax expense. The BEAT is an alternative tax implicated if tax deductible payments from U.S. companies to foreign affiliates that are at least 25% owned exceed 3% of total U.S. tax deductions. If implicated, the BEAT taxes modified taxable income at a rate of 10% beginning in 2019, and increasing to 12.5% in 2026, and is due if the calculated BEAT tax amount that is determined without the benefit of foreign and certain other tax credits is greater than the regular corporate tax in any given year. In general, modified taxable income is calculated by adding back to a taxpayer’s regular taxable income the amount of certain “base erosion tax benefits” with respect to payments to foreign affiliates, as well as the “base erosion percentage” of any net operating loss deductions.

Since the enactment of the Tax Act of 2017, the Treasury Department and the Internal Revenue Service (“IRS”) promulgated Proposed and Final Regulations on a number of provisions within or impacted by the Tax Act of 2017, including GILTI, foreign tax credits, net interest deductibility and the BEAT. Regulations were issued making it clear that benefit and claim payments made by our U.S. insurance businesses to our foreign affiliates on reinsurance assumed by the U.S. affiliates should not be considered to be base erosion payments. During 2020, regulations were issued that allow taxpayers to elect to exclude income of foreign subsidiaries from being subject to tax under the GILTI provision if the income of the foreign subsidiary is subject to local tax in excess of 18.9%. Other life insurance and financial services companies may benefit more or less from these tax law changes, which could impact the Company’s overall competitive position. Notwithstanding the enactment of the Tax Act of 2017, the President, and Congress, as well as state and local governments, may continue to consider from time to time legislation that could increase the amount of corporate taxes we pay, thereby reducing earnings.

In January 2022, the Treasury Department and the IRS promulgated Final Regulations (the “Final FTC Regulations”) changing the criteria by which a foreign levy is treated as a foreign income tax or a tax in lieu of an income tax for which a foreign tax credit may be claimed. The Final FTC Regulations are effective for tax years beginning on or after December 28, 2021. The Final FTC Regulations provide that a foreign levy must satisfy an attribution or jurisdictional nexus rule to be a creditable foreign income tax. A foreign levy will not satisfy the jurisdictional nexus requirement if the foreign country’s transfer pricing rules do not require that the arm’s length principles apply. Brazil’s tax law as in effect through 2023 may not follow arm’s length principles; therefore, as a result of the Final FTC Regulations, the Company may not have been entitled to a foreign tax credit with respect to Brazil. In July 2023, the IRS issued Notice 2023-55 which provides temporary relief to taxpayers in determining whether a foreign tax is eligible for a U.S. foreign tax credit for tax years 2022 and 2023, specifically delaying until 2024 the provisions of the Final Regulations that impacted the ability to claim a U.S. foreign tax credit for taxes paid to Brazil. In December 2023, the IRS issued Notice 2023-80, which extends the relief to additional periods.

The Inflation Reduction Act of 2022 (the “Inflation Reduction Act”), among other provisions, imposes (1) a 15% alternative minimum tax on corporations (“CAMT”) with average applicable financial statement income over $1 billion for any three-year period ending with 2022 or later; and (2) a 1% excise tax on the fair market value of stock that is repurchased by publicly traded U.S. corporations or their specified affiliates. Both provisions are effective in taxable years beginning after December 31, 2022. On September 12, 2024, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations providing guidance on the implementation of the CAMT. The proposed regulations address various aspects of the tax, including definitions, adjustments to financial statement income, and applicable reporting requirements. The Company will continue to monitor regulatory updates and assess their potential effects on our tax obligations. The impact of the alternative minimum tax, if any, will vary from year to year based on the relationship of our GAAP income to our taxable income.

The U.S. federal tax law provides that an election may be made pursuant to Internal Revenue Code Section 952 (the “952 election”) to subject earnings from certain insurance operations to tax in the U.S. in the tax year earned, net of related foreign tax credits. The Company made the 952 election effective for the 2017 and later tax years with respect to its affiliates incorporated in Brazil. In October 2019, the IRS issued a legal memorandum applicable to all taxpayers in which the IRS argues that the election became inoperable in 1998. The Company disagrees with the IRS’s position. The Company and the IRS have not been able to resolve this disagreement through the IRS Independent Office of Appeals. The Company is considering all of its options for a resolution of the matter. For additional information regarding the 952 Election, see Note 17 to the Consolidated Financial Statements.

29
Table of Contents
The Company has a number of subsidiaries incorporated under the laws of non-U.S. jurisdictions. Those non-U.S. subsidiaries intend to operate in a manner that will not cause any to be treated as being engaged in a trade or business within the U.S. or subject to current U.S. federal income taxation on their net income. However, because there is uncertainty as to when a foreign corporation is engaged in a trade or business within the United States, as the determination is highly factual and must be made annually, there can be no assurance that the IRS will not assert that a non-U.S. Company is engaged in a trade or business in the U.S. If a non-U.S. Company were considered to be engaged in a trade or business in the U.S., it could be subject to U.S. federal income taxation and possible state taxation on a net basis on its income that is effectively connected with such U.S. trade or business (including branch profits tax on the portion of its earnings and profits that is attributable to such income). Any such taxation could result in substantial tax liabilities.

U.S. federal tax law generally permits tax deferral on the inside build-up of investment value of certain retirement savings, annuities and life insurance products until there is a contract distribution and, in general, excludes from taxation the death benefit paid under a life insurance contract. The Tax Act of 2017 did not change these rules, though it is possible that some individuals with overall lower effective tax rates could be less attracted to the tax deferral aspect of the Company’s products. The general reduction in individual tax rates and elimination of certain individual deductions may also impact the Company, depending on whether current and potential customers have more or less after-tax income to save for retirement and manage their mortality and longevity risk through the purchase of the Company’s products. Congress from time to time may enact other changes to the tax law that could make our products less attractive to consumers, including legislation that would modify the tax favored treatment of retirement savings, life insurance and annuities products. Such legislation could be in the form of a direct change to the tax favored aspects of life insurance, retirement savings or annuities, or an indirect change, such as a wealth tax or mark to market tax structure, which could make holding our products less attractive.

The products we sell have different tax characteristics and, in some cases, generate tax deductions and credits for the Company. Changes in either the U.S. or foreign tax laws may negatively impact the deductions and credits available to the Company, including the ability of the Company to claim foreign tax credits with respect to taxes withheld on our investments supporting separate account products. These changes would increase the Company’s actual tax expense and reduce its consolidated net income.

The profitability of any particular product is significantly dependent on the unique characteristics of the product and our ability to continue to generate taxable income, which is taken into consideration when pricing a product and is a component of our capital management strategies. Accordingly, changes in tax law, our ability to generate taxable income, or other factors impacting the availability or value of the tax characteristics generated by our products, could impact product pricing, increase our tax expense or require us to reduce our sales of these products or implement other actions that could be disruptive to our businesses.

International Taxation

Our international businesses are subject to the tax laws and regulations of the countries in which they are organized and in which they operate. Foreign governments from time to time consider legislation that could impact the amount of taxes that we pay or impact the sales of our products. For example, the Organization of Economic Cooperation and Development (“OECD”) continues to study and make recommendations with respect to model global base erosion tax options. In 2021, as part of its Global Anti-Base Erosion Model Rules (Pillar Two), the OECD recommended a 15% global minimum tax on adjusted financial reported income. Many jurisdictions in which the Company operates, including the European Union, and the United Kingdom, have adopted a Qualified Domestic Minimum Top up Tax or Income Inclusion Rule as part of Pillar Two for tax years beginning in 2024. Other jurisdictions in which the Company operates, including Japan, Hong Kong and Singapore have announced the adoption of Pillar Two that may apply to the Company beginning in 2025. While guidance is still being provided with respect to the Pillar Two rules, the Company does not expect the Pillar Two taxes to have a material impact on the Company.

In December 2023, the Government of Bermuda enacted a corporate income tax. The Bermuda corporate income tax imposes a 15% income tax, less applicable foreign tax credits, on companies that are organized or operate within Bermuda that are within the scope of the OECD Pillar Two rules. The Bermuda corporate income tax is effective for tax years beginning on or after January 1, 2025. U.S. income tax paid by a Section 953(d) Bermuda insurance company may be claimed as a foreign tax credit to offset Bermuda income tax, while an election is available to exclude the income of a Bermuda entity that is a controlled foreign corporation, within the meaning of U.S. tax rules, from the Bermuda corporate income tax for fiscal years ending prior to January 1, 2027. Therefore, the Company does not expect that the Bermuda income tax will have a material impact on the Company.

30
Table of Contents
The applicable Japan national corporate statutory tax rate is 23.2%. In addition, there are local income taxes that are applied to our income earned in Japan. Insurance commissions paid to our Life Planners and Life Consultants are subject to a 10% consumption tax for individuals exceeding certain earnings thresholds; however, the tax is not charged on employee compensation (other than commissions) or insurance premiums. In December 2024, the Japanese government proposed a 4% surtax on corporate tax liabilities, effective April 1, 2026. This measure would increase the tax rate in Japan from the current rate of 23.2% to about 24.1%. It is uncertain if this proposal will be enacted.
 
International and Global Regulatory Initiatives
 
The Group of Twenty nations (“G20”), the Financial Stability Board (“FSB”) and related bodies have developed proposals to address issues such as financial group supervision, capital and solvency standards, systemic risk, corporate governance including executive compensation, climate-related financial risks, and a host of related issues. The International Association of Insurance Supervisors (“IAIS”), the global standard setting body for the insurance sector, contributes to the work of G20 and FSB through the development of standards that are intended to promote effective and globally consistent supervision and maintain fair, safe and stable insurance markets. As a standard setting body, the IAIS does not have direct authority to require insurance companies to comply with the standards it develops. However, the Company and its businesses could become subject to them if they were adopted by their respective regulators, which could impact the manner in which we deploy our capital, structure and manage our businesses, and otherwise operate both within the U.S. and abroad.

Human Capital Resources
 
As of December 31, 2024, our employee population was comprised as set forth in the tables below:

Global Employee Profile
Region
Number of
Employees(1)
Full-time Equivalent Positions(2)
U.S.14,087 13,868 
Non-U.S.24,109 24,068 
Total38,196 37,936 
__________
(1)Excludes independent contractors and other individuals classified as non-employees in their respective jurisdictions.
(2)Represents the total number of full-time equivalent positions and does not reflect the total number of individual employees as some work part-time.

Prudential’s Board of Directors, including its Corporate Governance and Business Ethics Committee, has oversight responsibility for our human capital resources, diversity and inclusion practices and corporate culture. Human capital is discussed by management at every Board meeting and, at least once per year, the Board devotes time to discuss human capital at each business and functional leadership level across the Company.

Attracting Employees

Hiring and retaining a best-in-class workforce is part of how Prudential fulfills its purpose and creates value for its stakeholders, and building an inclusive organization that integrates diverse backgrounds and perspectives is an important component of our strategic business initiative. Prudential’s inclusive culture—one that respects and values the differing backgrounds, perspectives and lived experiences of our employees—is foundational to our ability to attract, hire and retain the best talent to develop innovative products and solutions and best serve the needs of our customers and clients.

Developing Employees

We believe that our success is linked with the success of our employees. When they have the development tools and support they need to do their best work, the Company benefits. The talent practices and platforms we utilize have been designed to ensure all employees have the resources necessary to enhance their skills. Available resources include, among other things, on-demand learning content, coaching circles and live learning events. Eligible U.S. employees are also required to participate in a suite of training courses on critical topics including, among other things, our code of conduct, security and safety, social media standards and digital communication.

31
Table of Contents
Retaining Employees

We believe that our rigorous talent acquisition process, provision of opportunities for professional enrichment and advancement throughout our employees’ careers, and our diverse and inclusive culture will enhance our ability to retain employees.

Prudential conducts a global employee engagement survey, entitled the “EQ Survey.” The EQ Survey solicits employee feedback addressing our culture, management, career opportunities, compensation and benefits. The results of the EQ Survey influence how we strengthen our culture and implement change within the Company. In 2024, 89% of our eligible global employees responded to the EQ Survey.

Prudential’s annual turnover rate among its U.S. workforce (including voluntary and involuntary terminations) in 2024 was 15.3%. Voluntary turnover among Prudential’s U.S. workforce was 4.7%. In 2024, Prudential filled approximately 1,900 positions in the United States and 37% of those positions were filled internally.

Compensation Program and Retirement Plans

The philosophy underlying our compensation program is to provide an attractive, flexible, and market-based total compensation program tied to performance and aligned with the interests of our shareholders. Our objective is to recruit and retain the caliber of employees necessary to deliver sustained high performance to our shareholders, customers, and communities. Our compensation program is an important component of these overall human resources policies. Equally important, we view compensation practices as a means for communicating our goals and standards of conduct and performance and for motivating and rewarding employees in relation to their achievements.

We view retirement benefits as a key component of our compensation program because they encourage long-term service. Accordingly, we offer our employees a comprehensive benefits program that provides the opportunity to accumulate retirement income. This program includes both defined benefit and defined contribution plans.

Periodically, we compare the competitiveness of our benefits programs for our employees, including retirement benefits, against other employers with whom we broadly compete for talent. It is our objective to provide our employees with a benefits package that is at or around the median of the competitive market when compared to other employers.
 
Available Information
 
Prudential Financial files periodic and current reports, proxy statements and other information with the SEC. Such reports, proxy statements and other information may be obtained through the SEC’s website (www.sec.gov).
 
You may also access our press releases, financial information and reports filed with the SEC (for example, our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and any amendments to those Forms) online at www.investor.prudential.com. Copies of any documents on our website are available without charge, and reports filed with or furnished to the SEC will be available as soon as reasonably practicable after they are filed with or furnished to the SEC. The information found on our website is not part of this or any other report filed with or furnished to the SEC.

32
Table of Contents
Information About our Executive Officers
 
The names of the executive officers of Prudential Financial and their respective ages and positions, as of February 13, 2025, were as follows:
NameAgeTitleOther Public Directorships
Charles F. Lowrey67Chairman, Chief Executive Officer and PresidentNone
Robert M. Falzon65Vice ChairNone
Ann M. Kappler66
Executive Vice President, General Counsel and Chief Compliance Officer
None
Yanela C. Frias
52Executive Vice President and Chief Financial Officer
None
Andrew F. Sullivan54
Executive Vice President and Head of International Businesses and Global Investment Management
None
Caroline A. Feeney55Executive Vice President and Head of U.S. BusinessesNone
Lucien A. Alziari65Executive Vice President and Chief Human Resources OfficerNone
Scott E. Case
54
Executive Vice President and Head of Global Technology and Operations
None
Timothy L. Schmidt66Senior Vice President and Chief Investment OfficerNone

Biographical information about Prudential Financial’s executive officers is as follows:

Charles F. Lowrey was elected Chairman of Prudential Financial in April 2019 and Chief Executive Officer, President and Director of Prudential Financial and PICA in December 2018. Previously, he served as Executive Vice President and Chief Operating Officer, International Businesses, of Prudential Financial and PICA from March 2014 to November 2018. He served as Executive Vice President and Chief Operating Officer, U.S. Businesses, of Prudential Financial and PICA from February 2011 to March 2014. He also served as Chief Executive Officer and President of Prudential Investment Management, Inc. (now known as “PGIM”) from January 2008 to February 2011, and as Chief Executive Officer of Prudential Real Estate Investors (“PREI”) (now known as PGIM Real Estate), our real estate investment management and advisory business from February 2002 to January 2008. He joined the Company in March 2001, after serving as a managing director and Head of the Americas for J.P. Morgan’s Real Estate and Lodging Investment Banking group, where he began his investment banking career in 1988. He also spent four years as a managing partner of an architecture and development firm he founded in New York City.
 
Robert M. Falzon was elected Director of Prudential Financial in August 2019 and has served as Vice Chair of Prudential Financial and PICA since December 2018. Previously, he served as Executive Vice President and Chief Financial Officer of Prudential Financial and PICA from March 2013 to November 2018. Mr. Falzon has been with Prudential since 1983, serving in various positions. He served as Senior Vice President and Treasurer of Prudential Financial and PICA from 2010 to 2013. Previously he had been a managing director at PREI, Head of PREI’s Global Merchant Banking Group and Chief Executive Officer of its European business; a managing director at Prudential Securities; and regional vice president at Prudential Capital Group (now known as PGIM Private Capital).
 
Ann M. Kappler was elected Executive Vice President and General Counsel for Prudential Financial and PICA in September 2020, and was named the Company’s Chief Compliance Officer in February 2024. She served as Senior Vice President, Deputy General Counsel and Head of External Affairs from 2015 to 2020. She had served in various supervisory positions since 2009, including Deputy General Counsel and Head of External Affairs from 2014 to 2015, Chief Legal Officer for Litigation and Regulation from 2012 to 2014 and Chief Legal Officer for Corporate Services from 2009 to 2012. Prior to joining Prudential in 2009, she was a Partner at Wilmer Cutler Pickering Hale and Dorr, General Counsel at Fannie Mae, and a Litigation Partner at Jenner & Block. She started her career as a Judicial Law Clerk at the U.S. Supreme Court and the U.S. Court of Appeals, D.C. Circuit.
 
Yanela C. Frias was elected Executive Vice President and Chief Financial Officer of Prudential Financial and PICA in March 2024. Prior to this role, she was President of Prudential’s Group Insurance business from October 2021 to March 2024. Previously, she served as President of Prudential Retirement from 2019 to 2021 and as Head of Investment & Pension Solutions from 2017 to 2019. She also held various positions within Prudential, including serving as Chief Financial Officer for Prudential’s Individual Annuities and Individual Life Insurance businesses. Ms. Frias joined Prudential in 1997.

Andrew F. Sullivan was elected Executive Vice President and Head of International Businesses and Global Investment Management for Prudential Financial and PICA in January 2023. Previously, he served as Executive Vice President and Head of U.S. Businesses from December 2019 to December 2022. He also served as CEO of Prudential’s Workplace Solutions
33
Table of Contents
Group, which consisted of Prudential Retirement and Prudential Group Insurance. Before joining Prudential in 2011, he served as Senior Vice President at CareFirst BlueCross BlueShield. Previously, he spent eight years at Cigna where he held a number of senior leadership positions. He also held management roles at Diamond Technology Partners and DaimlerChrysler.

Caroline A. Feeney was elected Executive Vice President and Head of U.S. Businesses for Prudential Financial and PICA in January 2023. Prior to this role, she served as CEO of U.S. Insurance & Retirement Businesses from January 2021 to December 2022, which consisted of Group Insurance, Individual Life Insurance, Prudential Retirement Strategies, the Retail Advice and Solutions organization, as well as key support functions which include Enabling Solutions and Enterprise Capabilities. Previously, she was CEO of Individual Solutions, and prior to that, she was President of Prudential Individual Life Insurance and Prudential Advisors. Ms. Feeney joined Prudential in 1993.
 
Lucien A. Alziari was elected Executive Vice President in October 2018, and has served as Chief Human Resources Officer for Prudential Financial and PICA since June 2017. From 2012 to 2017, Mr. Alziari served as Executive Vice President and Chief Human Resources Officer of A.P. Moller-Maersk. From 2004 to 2012, he was the Chief Human Resources Officer and Head of Corporate Responsibility for Avon Products, Inc. Prior to Avon Products, Inc., Mr. Alziari held roles with Mars Confectionary in the United Kingdom and PepsiCo Inc. in New York, Vienna and Dubai.

Scott E. Case was elected Executive Vice President and Head of Global Technology and Operations for Prudential Financial and PICA in November 2024. Previously, he served as Chief Information Officer at Truist from 2019 to 2024. Prior to Truist, he served as Chief Technology Officer at SunTrust for the company’s consumer segment. He also held various positions at John Hancock, First Union National Bank, and Bank of America.

Timothy L. Schmidt was elected Senior Vice President and Chief Investment Officer of Prudential Financial and PICA in December 2018. He chairs the Senior Asset Liability Committee and serves as Prudential’s representative to the Institute of International Finance’s Committee on Asset and Investment Management. Previously, Mr. Schmidt was the Head of Global Portfolio Management for Prudential from 2012 to 2018 and he was responsible for the overall asset/liability management for Prudential’s Retirement and Group Insurance businesses from 2010 to 2012. Prior to joining Prudential in July 2010, he served as Chief Financial Officer for MetLife’s Individual Business and had headed MetLife’s Wealth Strategy Group. Earlier in his 25-year tenure at MetLife, Schmidt held various positions in the investment organization, including Head of MetLife’s Portfolio Management Unit, as well as its Structured Finance and Government Securities unit.

ITEM 1A.RISK FACTORS
 
You should carefully consider the following risks. Additional risks to which we are subject include, but are not limited to, the factors mentioned under “Forward-Looking Statements” above and the risks of our businesses described elsewhere in this Annual Report on Form 10-K. Many of these risks are interrelated and could occur under similar business and economic conditions, and the occurrence of certain of them may in turn cause the emergence or exacerbate the effect of others. Such a combination could materially increase the severity of the impact of these risks on our businesses, results of operations, financial condition and liquidity.
 
Overview

The Company uses an integrated risk management framework to manage and oversee its risks. The Company’s risks include investment, insurance, market, liquidity, operational, and model risk as well as strategic risks that may cause the Company’s core business model to change, either through a shift in the businesses in which it is engaged or a change in execution. The Company’s strategic risks include regulatory and technological changes and other external factors. The Company’s risks are further discussed below. Our risk management framework is described under “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Risk Management.”

Investment Risk

Our investment portfolios are subject to the risk of loss due to default or deterioration in credit quality or value.

We are exposed to investment risk through our investments, which primarily consist of public and private fixed maturity securities, commercial mortgage and other loans, equity securities and alternative assets including private equity, hedge funds and real estate. For a discussion of our general account investments, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—General Account Investments.” We are also exposed to investment risk through a potential counterparty default.
34
Table of Contents

Investment risk may result from (1) economic conditions, (2) adverse capital market conditions, including disruptions in individual market sectors or a lack of buyers in the marketplace, (3) volatility, (4) credit spread changes, (5) benchmark interest rate changes, (6) changes in foreign currency exchange rates and (7) declines in value of underlying collateral. These factors may impact the credit quality, liquidity and value of our investments and derivatives, potentially resulting in higher capital charges and unrealized or realized losses. Also, certain investments we hold, regardless of market conditions, are relatively illiquid and our ability to promptly sell these assets for their full value may be limited. Additionally, our valuation of investments may include methodologies, inputs and assumptions which could result in changes to investment valuations that may materially impact our results of operations or financial condition. For information about the valuation of our investments, see Note 6 to the Consolidated Financial Statements.

Our investment portfolio is subject to credit risk, which is the risk that an obligor (or guarantor) is unable or unwilling to meet its contractual payment obligations on its fixed maturity security, loan or other obligations. Credit risk may manifest in an idiosyncratic manner (i.e., specific to an individual borrower or industry) or through market-wide credit cycles. Financial deterioration of the obligor increases the risk of default and may increase the capital charges required under such regimes as the NAIC RBC, the FSA SMR or other constructs to hold the investment and in turn, potentially limit our overall capital flexibility. Credit defaults (as well as credit impairments, realized losses on credit-related sales, and increases in credit related reserves) may result in losses which adversely impact earnings, capital and our ability to appropriately match our liabilities and meet future obligations.

Our Company is subject to counterparty risk, which is the risk that the counterparty to a transaction could default or deteriorate in creditworthiness before or at the final settlement of a transaction. In the normal course of business, we enter into financial contracts to manage risks (such as derivatives to manage market risk and reinsurance treaties to manage insurance risk), improve the return on investments (such as securities lending and repurchase transactions) and provide sources of liquidity or financing (such as credit agreements, securities lending agreements and repurchase agreements). Reinsurance treaties may also be used to further strategic goals of the Company by facilitating the acquisition or divestiture of a block of business if an entity purchase or sale is not practical. These transactions expose the Company to counterparty risk. Counterparties include commercial banks, investment banks, broker-dealers and insurance and reinsurance companies. In the event of a counterparty deterioration or default, the magnitude of the losses (e.g., replacement costs) will depend on current market conditions and the feasibility (dependent on the complexity) and time requirement of entering a replacement transaction with a new counterparty. Highly bespoke transactions (e.g., strategic reinsurance) may not be replicable with any degree of certainty, possibly causing us to recapture liabilities and reestablish or strengthen reserves and capital, which could reduce capital flexibility. Losses are likely to be higher under stressed conditions.

Our investment portfolio is subject to equity risk, which is the risk of loss due to deterioration in market value of public equity or alternative assets. We include public equity and alternative assets (including private equity, hedge funds and real estate) in our portfolio constructions, as these asset classes can provide returns over longer periods of time, aligning with the long-term nature of certain of our liabilities. Public equity and alternative assets have varying degrees of price transparency. Equities traded on stock exchanges (public equities) have significant price transparency, as transactions are often required to be disclosed publicly. Assets with less price transparency include private equity (joint ventures/limited partnerships) and direct real estate. As these investments typically do not trade on public markets and indications of realizable market value may not be readily available, valuations can be infrequent and/or more volatile. A sustained decline in public equity and alternative markets may reduce the returns earned by our investment portfolio through lower-than-expected dividend income, property operating income, and capital gains, thereby adversely impacting earnings, capital, and product pricing assumptions. These assets may also produce volatility in earnings as a result of uneven distributions on the underlying investments.

Insurance Risk

We have significant liabilities for policyholders’ benefits which are subject to insurance risk. Insurance risk is the risk that actual experience deviates adversely from our insurance assumptions, including mortality, morbidity, and policyholder behavior assumptions.

We provide a variety of insurance products, on both an individual and group basis, that are designed to help customers protect against a variety of financial uncertainties. Our insurance products protect customers against their potential risk of loss by transferring those risks to the Company, where those risks can be managed more efficiently through pooling and diversification over a larger number of independent exposures. During this transfer process, we assume the risk that actual losses experienced in our insurance products deviates significantly from what we expect. More specifically, insurance risk is concerned with the deviations that impact our future liabilities. Our profitability may decline if mortality experience, morbidity experience or policyholder behavior experience differ significantly from our expectations when we price our products. In
35
Table of Contents
addition, if we experience higher than expected surrenders, withdrawals or claims, our liquidity position may be adversely impacted, and we may incur losses on investments if we are required to sell assets in order to fund surrenders, withdrawals or claims. If it is necessary to sell assets at a loss, our results of operations and financial condition could be adversely impacted. For a discussion of the impact of changes in insurance assumptions on our financial condition, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Accounting Policies and Pronouncements—Application of Critical Accounting Estimates—Insurance Liabilities.”

Certain of our insurance products are subject to mortality risk, which is the risk that actual deaths experienced deviate adversely from our expectations. Mortality risk is a biometric risk that can manifest in the following ways:

•Mortality calamity is the risk that mortality rates in a single year deviate adversely from what is expected as the result of pandemics, natural or man-made disasters, military actions or terrorism. A mortality calamity event will reduce our earnings and capital and we may be forced to liquidate assets before maturity in order to pay the excess claims. Mortality calamity risk is more pronounced in respect of specific geographic areas (including major metropolitan centers where we have concentrations of customers, including under group and individual life insurance, concentrations of employees or significant operations) and in respect of countries and regions in which we operate that are subject to a greater potential threat of military action or conflict. Ultimate losses would depend on several factors, including the rates of mortality and morbidity among various segments of the insured population, the collectability of reinsurance, the possible macroeconomic effects on our investment portfolio, the effect on lapses and surrenders of existing policies, as well as sales of new policies and other variables.
•Mortality trend is the risk that mortality improvements in the future deviate adversely from what is expected. Mortality trend is a long-term risk that could emerge gradually over time. Longevity products, such as annuities, pension risk transfer and long-term care, may experience adverse impacts due to higher-than-expected mortality improvement. Mortality products, such as life insurance, experience adverse impacts due to lower-than-expected mortality improvement. If this risk were to emerge, the Company would update assumptions used to calculate reserves for in-force business, which may result in additional assets needed to meet the higher expected annuity claims or earlier expected life claims. An increase in reserves due to revised assumptions has an immediate impact on our results of operations and financial condition; however, economically the impact is generally long term as the excess outflow is paid over time.
•Mortality base is the risk that actual base mortality deviates adversely from what is expected in pricing and valuing our products. Base mortality risk can arise from a lack of credible data on which to base the assumptions.

We manage mortality risk primarily through our underwriting practices. We use a variety of strategies to further manage our mortality risks, including the use of reinsurance and derivative instruments. These strategies, however, may not be fully effective and may lead to payments to counterparties in excess of recoveries depending on how actual mortality experience emerges and on future changes in the level of premiums we pay to reinsurers. We may also benefit from offsetting impacts between our mortality and longevity products in adverse mortality or longevity scenarios; however, the extent of this offset may vary.

Certain of our insurance products are subject to morbidity risk, which is the risk that either incidence, utilization or continuation experience deviates adversely from what is expected. Morbidity risk is a biometric risk that can manifest in the following ways:

•Morbidity incidence is the risk that the rate at which policyholders become unhealthy (and qualify for benefits under insurance policies) deviates adversely from what is expected. We are exposed to morbidity incidence risk primarily through short-term disability, long-term disability and long-term care products in the U.S., and through accident and health products in Japan.
•Morbidity utilization is the risk that policyholder morbidity benefit utilization (relative to available maximum benefits) deviates adversely from our expectations. This risk relates primarily to our long-term care products.
•Morbidity continuation is the risk that the length of time for which policyholders remain unhealthy deviates adversely from what is expected. This risk is primarily in our disability and long-term care products.

In each case, an increase in claims, or an increase in reserves due to revised morbidity assumptions can have an immediate impact on our results of operations and financial condition; however, economically the impact of morbidity risk for products that pay out for ongoing illness or disability generally emerges over the longer term as the morbidity claims are paid.

Certain of our insurance products are subject to policyholder behavior risk, which is the risk that actual policyholder behavior deviates adversely from what is expected.

36
Table of Contents
•Lapse calamity is the risk that lapse rates over the short-term deviate adversely from what is expected, for example, surrenders of certain insurance products may increase following a downgrade of our financial strength ratings or adverse publicity. Only certain products are exposed to this risk. Products that offer a cash surrender value that resides in the general account, such as non-participating whole life products, could pose a potential short-term lapse calamity risk. Surrender of these products can impact liquidity, and it may be necessary in certain market conditions to sell assets to meet surrender demands. Lapse calamity can also impact our earnings and capital through its impact on estimated future profits.
•Policyholder behavior risk is the risk that the behavior of our customers or policyholders deviates adversely from what is expected. Policyholder behavior risk arises through product features which provide some degree of choice or flexibility for the policyholder, which can impact the amount and/or timing of claims. Such choices include surrender, lapse, partial withdrawal, policy loan utilization, and premium payment rates for contracts with flexible premiums. While some behavior is driven by macro factors such as market movements, policyholder behavior at a fundamental level is driven primarily by policyholders’ individual needs, which may differ significantly from product to product depending on many factors including the features offered, the approach taken to market each product, and competitor pricing. For example, persistency (the probability that a policy or contract will remain in force) within our annuities business may be significantly impacted by the value of guaranteed minimum benefits contained in many of our variable annuity products being higher than current account values in light of poor market performance as well as other factors. Many of our products also provide our customers with wide flexibility with respect to the amount and timing of premium deposits and the amount and timing of withdrawals from the policy’s value. Results may vary based on differences between actual and expected premium deposits and withdrawals for these products, especially if these product features are relatively new to the marketplace. The pricing of certain of our variable annuity products that contain certain living benefit guarantees is also based on assumptions about utilization rates, or the percentage of contracts that will utilize the benefit during the contract duration, including the timing of the first withdrawal. Results may vary based on differences between actual and expected benefit utilization. We may also be impacted by customers seeking to sell their benefits. In particular, the development of a secondary market for life insurance, including life settlements or “viaticals” and investor-owned life insurance, and third-party investor strategies in the annuities business, could adversely affect the profitability of existing business and our pricing assumptions for new business. Policyholder behavior risk is generally a long-term risk that emerges over time. An increase in reserves due to revised assumptions has an immediate impact on our results of operations and financial condition; however, from an economic or cash flow perspective, the impact is generally long term as the excess outflow is paid over time.

Our ability to reprice products is limited and may not compensate for deviations from our expected insurance assumptions. Although some of our products permit us to increase premiums or adjust other charges and credits during the life of the policy or contract, the adjustments permitted under the terms of the policies or contracts may not be sufficient to maintain profitability or may cause the policies or contracts to lapse. For example, for our long-term care insurance products, our assumptions for reserves for future policy benefits have factored in an estimate of the timing and amount of anticipated and yet-to-be-filed premium rate increases, including those which may require state approval. Our actual experience obtaining pricing increases could be materially different than what we have assumed, resulting in further policy liability increases which could be material. Many of our products do not permit us to increase premiums or adjust other charges and credits or limit those adjustments during the life of the policy or contract. Even if permitted under the policy or contract, other factors may impact our decision whether to raise premiums or adjust other charges sufficiently, or at all. Accordingly, significant deviations in actual experience from our pricing assumptions could have an adverse effect on the profitability of our products.

Market Risk

The profitability of many of our insurance and annuity products, as well as the fees we earn in our investment management business, are subject to market risk. Market risk is the risk of loss from changes in interest rates, equity prices and foreign currency exchange rates.

The profitability of many of our insurance and annuity products depends in part on the value of the separate accounts supporting these products, which can fluctuate substantially depending on market conditions. Market conditions resulting in reductions in the value of assets we manage has an adverse effect on the revenues and profitability of our investment management business, which depends on fees related primarily to the value of assets under management, and could decrease the value of our strategic investments.

Derivative instruments that we use to hedge and manage foreign exchange, interest rate and equity market risks associated with our products and businesses, and other risks might not perform as intended or expected, resulting in higher-than-expected realized losses and stresses on liquidity and/or regulatory capital. Market conditions can limit availability of hedging
37
Table of Contents
instruments, require us to post additional collateral, and further increase the cost of executing product related hedges and such costs may not be recovered in the pricing of the underlying products being hedged.

Market risk may limit opportunities for investment of available funds at desired returns, including due to the prevailing interest rate environment, or other factors, with possible negative impacts on our overall results. Limited opportunities for attractive investments may lead to holding cash for long periods of time and an increased use of derivatives for duration management and other portfolio management purposes. The increased use of derivatives or portfolio rebalancing may increase the volatility of our U.S. GAAP results and our statutory capital.

Our investments, results of operations and financial condition may also be adversely affected by developments in the global economy, in the U.S. economy (including as a result of actions by the Federal Reserve with respect to interest rate and monetary policy, and adverse political developments), and in the Japanese economy (including due to the effects of inflation or deflation, interest rate volatility, changes in the Japan sovereign credit rating, and material changes in the value of the Japanese yen relative to the U.S. dollar). Global, U.S. or Japanese economic activity and financial markets may in turn be negatively affected by adverse developments or conditions in specific geographical regions.

For a discussion of the impact of changes in market conditions on our financial condition see “Item 7A. Quantitative and Qualitative Disclosures About Market Risk.”

Our insurance and annuity products and certain of our investment products, and our investment returns, are subject to interest rate risk, which is the risk of loss arising from asset/liability duration mismatches within our general account investments as well as invested assets of other entities and operations. The risk of mismatch in asset/liability duration is mainly driven by the specific dynamics of product liabilities. Some product liabilities are expected to have only modest risk related to interest rates because cash flows can be matched by available assets; however, other product liabilities generate long-term cash flows (i.e., 30 years or more), resulting in significant interest rate risk, since these cash flows cannot be matched by assets for sale in the marketplace, exposing the Company to future reinvestment risk. In addition, certain of our products provide for recurring premiums which may be invested at interest rates lower than the rates included in our pricing assumptions. Market-sensitive cash flows exist with other product liabilities including products whose cash flows can be linked to market performance through secondary guarantees, minimum crediting rates, and/or changes in insurance assumptions.

Our exposure to interest rates can manifest over years as in the case of earnings compression or in the short term by creating volatility in both earnings and capital. For example, some of our products expose us to the risk that changes in interest rates will reduce the spread between the amounts that we are required to pay under contracts and the rate of return we are able to earn on our general account investments supporting these contracts. When interest rates decline or remain low, we must invest in lower-yielding instruments, potentially reducing net investment income and constraining our ability to offer certain products. This risk is increased as more policyholders may retain their policies in a low rate environment. Since many of our policies and contracts have guaranteed minimum crediting rates or limit the resetting of crediting rates, the spreads could decrease or go negative.

Alternatively, when interest rates rise, we may not be able to replace the assets in our general account with the higher-yielding assets as quickly as needed to fund the higher crediting rates necessary to keep these products and contracts competitive. It is possible that fewer policyholders may retain their policies and annuity contracts as they pursue higher crediting rates, which could expose the Company to losses and liquidity stress. In addition, rising interest rates could cause a decline in the market value of fixed income assets the Company manages which in turn could result in lower asset management fees earned. Rapidly rising interest rates may also adversely impact, and have adversely impacted, our liquidity and capital positions, cash flows, results of operations, and financial position.

Our mitigation efforts with respect to interest rate risk are primarily focused on maintaining an investment portfolio with diversified maturities that has a key rate duration profile that is approximately equal to the key rate duration profile of our liability and surplus benchmarks; however, these benchmarks are based on estimates of the liability cash flow profiles which are complex and could be inaccurate, especially when markets are volatile. In addition, there are practical and capital market limitations on our ability to accomplish this matching. Due to these and other factors we may need to liquidate investments prior to maturity at a loss in order to satisfy liabilities or be forced to reinvest funds in a lower rate environment.

Our significant business operations outside the U.S. subject us to foreign exchange risk, which is the risk of loss arising from assets that are invested in a different currency than the related liability, as well as the unhedged portion of the Company’s earnings from, and capital supporting, operations in a foreign currency. As a U.S.-based company with significant business operations outside of the U.S., particularly in Japan, we are exposed to foreign currency exchange rate risk related to these operations, as well as in our investment portfolio. Fluctuations in foreign currency exchange rates could
38
Table of Contents
adversely affect our profitability, financial condition and cash flows, as well as increase the volatility of our results of operations under U.S. GAAP. In the short-term, solvency margins in our Japan businesses can also be impacted by fluctuations in exchange rates.

For our International Businesses’ operations, our Retirement Strategies segment’s earnings on non-U.S. dollar-denominated reinsurance contracts and PGIM’s investment activities based in currencies other than the U.S. dollar, changes in foreign currency exchange rates create risk that we may experience volatility in the U.S. dollar-equivalent earnings and equity of these operations. We seek to manage this risk through various hedging strategies, including the use of foreign currency hedges and through holding U.S. dollar-denominated securities in the investment portfolios of certain of these operations. Additionally, our Japanese insurance operations offer a variety of non-Japanese yen-denominated products. For certain of our international insurance operations outside of Japan, we elect to not hedge the risk of changes in our subsidiary equity investments due to foreign exchange rate movements.

For our domestic investment portfolios supporting our U.S. insurance operations and other proprietary investment portfolios, our foreign currency exchange rate risk arises primarily from investments that are denominated in foreign currencies. We manage this risk by hedging substantially all domestic foreign currency-denominated fixed-income investments into U.S. dollars. We generally do not hedge all of the foreign currency risk of our investments in equity securities of unaffiliated foreign entities. The value and liquidity of our foreign currency investments could be adversely affected by local market, economic and financial conditions.

There can be no assurance that our hedging and other strategies will effectively mitigate foreign exchange risk. For a discussion of our hedging program and the impact of foreign currency exchange rates on our business, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Impact of Foreign Currency Exchange Rates.”

Guarantees within certain of our products, in particular our variable annuities and to a lesser extent certain individual life and international insurance products, are market sensitive and may decrease our earnings or increase the volatility of our results of operations or financial position. Certain of our products, particularly our variable annuity products and to a lesser extent certain international insurance products, include guarantees of minimum surrender values or income streams for stated periods or for life, which may be in excess of account values. Certain of our products, particularly our variable annuity and variable life products, include minimum death benefits or “no-lapse guarantees” that guarantee a death benefit as long as the “no-lapse guarantee” premium is paid. Certain of our products, particularly certain index-linked annuity and individual life products, include interest crediting guarantees based on the performance of an index. Downturns in equity markets, increased equity volatility, increased credit spreads, or (as discussed above) reduced interest rates could result in an increase in the valuation of liabilities associated with such guarantees, resulting in increases in reserves and reductions in net income. We use a variety of hedging and risk management strategies, including product features, to mitigate these risks in part and we may periodically change our strategies over time. These strategies may, however, not be fully effective. In addition, we may be unable or may choose not to fully hedge these risks. Hedging instruments may not effectively offset the costs of guarantees or may otherwise be insufficient in relation to our obligations. Hedging instruments also may not change in value correspondingly with associated liabilities due to equity market or interest rate conditions, non-performance risk or other reasons. We may choose to hedge these risks on a basis that does not correspond to their anticipated or actual impact upon our results of operations or financial position under U.S. GAAP. Changes from period to period in the valuation of these policy benefits, and in the amount of our obligations effectively hedged, will result in volatility in our results of operations and financial position under U.S. GAAP and the statutory capital levels of our insurance subsidiaries. Estimates and assumptions we make in connection with hedging activities may fail to reflect or correspond to our actual long-term exposure from our guarantees. Further, the risk of increases in the costs of our guarantees not covered by our hedging and other capital and risk management strategies may become more significant due to changes in policyholder behavior driven by market conditions or other factors. The above factors, individually or collectively, may have a material adverse effect on our results of operations, financial condition or liquidity.

Our valuation of the liabilities for the minimum benefits contained in many of our variable annuity products requires us to consider the market perception of our risk of non-performance, and a decrease in our own credit spreads resulting from ratings upgrades or other events or market conditions could cause the recorded value of these liabilities to increase, which in turn could adversely affect our results of operations and financial position.

We are subject to counterparty risk associated with reinsurance transactions. To mitigate this risk, we may use coinsurance with funds withheld or modified coinsurance. With these reinsurance arrangements, we retain assets on our balance sheet whose related investment performance accrues to third-party reinsurers. The composition of these assets is subject to investment guidelines specific to the reinsurance treaties and may differ from those we would normally invest in. Under GAAP, funds withheld and modified coinsurance reinsurance most often create embedded derivatives for the ceding company and the
39
Table of Contents
reinsurer, which are measured at fair value. The valuation of these embedded derivatives is sensitive to market factors, including credit spreads of the assets held by the ceding insurer, and can generate significant volatility in net income depending on market conditions. Changes in the fair value of embedded derivatives are included in “Realized investment gains (losses), net” on the Consolidated Statements of Operations, whereas changes in the fair value of assets are recorded primarily in “Accumulated other comprehensive income.”

Liquidity Risk

As a financial services company, we are exposed to liquidity risk, which is the risk that the Company is unable to meet near-term obligations as they come due.

Liquidity risk is a manifestation of events that are driven by other risk types (market, insurance, investment, operational). A liquidity shortfall may arise in the event of insufficient funding sources or an immediate and significant need for cash or collateral. In addition, it is possible that expected liquidity sources, such as our credit facilities, may be unavailable or inadequate to satisfy the liquidity demands described below.

The Company has four primary sources of liquidity exposure and associated drivers that trigger material liquidity demand. Those sources are:

•Derivative collateral market exposure: Abrupt changes to interest rate, equity, and/or currency markets may increase collateral requirements to counterparties and create liquidity risk for the Company.
•Asset liability mismatch: There are liquidity risks associated with liabilities coming due prior to the matching asset cash flows. Structural maturities mismatch can occur in activities such as securities lending, where the liabilities are effectively overnight open transactions used to fund longer term assets.
•Wholesale funding: The Company depends upon the financial markets for funding (such as through the issuance of commercial paper, securities lending and repurchase arrangements and other forms of borrowings in the capital markets). These sources might not be available during times of stress, or may only be available on unfavorable terms, which can result in a decrease in our profitability and a significant reduction in our financial flexibility.
•Insurance cash flows: The Company faces potential liquidity risks from unexpected cash demands due to severe mortality calamity, customer withdrawals or lapse events. If such events were to occur, the Company may face unexpectedly high levels of claim payments to policyholders.

For a discussion of the Company’s liquidity and sources and uses of liquidity, including information about legal and regulatory limits on the ability of our subsidiaries to pay dividends, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Liquidity.”

Operational Risk

Our operations are exposed to the risk of loss resulting from inadequate or failed processes or systems, human error or misconduct, and as a result of external events.

An operational risk failure may result in one or more actual or potential impacts to the Company. Operational risk may be elevated as a result of significant changes to how the Company operates, including organizational changes and transformation efforts underway that increase execution risk. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Overview” for additional information regarding our business transformation efforts.

Operational Risk Types

•People: Internal fraud, breaches of employment law, unauthorized activities; loss or lack of key personnel, inadequate training; inadequate supervision.
•Processes: Processing failure; failure to safeguard or retain documents/records; errors in valuation/pricing models and processes; project management or execution failures; improper sales practices; improper administration of our products; failure to adhere to clients’ investment guidelines.
•Technology: Failures during the development and implementation of new systems; systems failures.
•External Events: External crime; cyber-attack; outsourcing risk; vendor risk; natural and other disasters; changes in laws/regulations.
40
Table of Contents
•Legal and Regulatory: Legal and regulatory compliance failures. See “Business—Regulation” for a discussion of the regulations applicable to the Company.

Potential Impacts

•Financial losses: The Company experiences a financial loss. This loss may originate from various causes including, but not limited to, transaction processing errors and fraud.
•Client service impacts: The Company may not be able to service customers. This may result if the Company is unable to continue operations during a business continuation event or if systems are compromised due to malware or virus.
•Regulatory fines or sanctions: When the Company fails to comply with applicable laws or regulations, regulatory fines or sanctions may be imposed. In addition, possible restrictions on business activities may result.
•Legal actions: Failure to comply with laws and regulations also exposes the Company to litigation risk. This may also result in financial losses.
•Reputational harm: Failure to meet regulator, customer, investor and other stakeholder expectations may cause reputational harm.

Liabilities we may incur as a result of operational failures are described further under “Contingent Liabilities” in Note 25 to the Consolidated Financial Statements. In addition, certain pending regulatory and litigation matters affecting us, and certain risks to our businesses presented by such matters, are discussed in Note 25 to the Consolidated Financial Statements. We may become subject to additional regulatory and legal actions in the future.

Key Enterprise Operational Risks

Key enterprise operational risks include, among others, the following:

We are subject to business continuation risk, which is the risk that our operations, systems or data, or those of third-parties on whom we rely, may be disrupted. We may experience a disruption in business continuity as a result of, among other things, the following:

•Severe pandemic, epidemic, or other public health crises, either naturally occurring or resulting from intentionally manipulated pathogens;
•Geo-political risks, including armed conflict and civil unrest;
•Terrorist events;
•Significant natural or accidental disasters;
•Cyber-attacks, both systemic (e.g., affecting the internet, cloud services, and/or other financial services industry infrastructure) and targeted (e.g., failures in or breach of our systems or that of third-parties on whom we rely);
•Insider threats;
•Physical infrastructure outages; and
•Workforce unavailability resulting from any of the above events, among others.

We depend heavily on our telecommunication, information technology and other operational systems and on the integrity and continuing availability of data we use to run our businesses and service our customers. These systems, and any available backups, may fail to operate properly or become disabled as a result of events or circumstances wholly or partly beyond our control.

Further, we face the risk of operational and technology failures experienced by others, including clearing agents, exchanges and other financial intermediaries, and vendors and other third parties to which we outsource the provision of services or business operations.

We, or third parties on whom we rely, may not adequately maintain information security. There continues to be significant and increased cyber-attack activity against businesses, including but not limited to Prudential and others in the financial services sector, and no organization, regardless of measures implemented to safeguard the systems and detect threats, is fully immune to cyber-attacks. Our cybersecurity risk remains heightened because of, among other things, the rapidly evolving nature and pervasiveness of cyber threats, our brand and reputation, our size and scale, our geographic presence and our role in the financial services industry and the broader economy. See “Item 1C. Cybersecurity” for additional information about cybersecurity risk management and governance. Risks related to cyber-attack arise in various areas, including:
41
Table of Contents

•Protecting sensitive information is a constant need; however, some risks cannot be fully mitigated using administrative, technological, or physical controls, or otherwise.
•Employees, customers, third-party service providers on whom we rely, or other users of our systems continue to be a key avenue for malicious external parties to gain access to our network, systems, data, or that of our customers. Many attacks leverage social engineering schemes (such as phishing, vishing, or smishing) to coax an internal user to click on a malicious attachment or link to introduce malware into companies’ systems or steal the user’s username and password. Such social engineering schemes are becoming increasingly sophisticated and may involve emerging technologies such as deep-fakes. Senior-level executives are increasingly becoming the targets of such attacks. Fraudulent schemes to solicit information via call centers, remote help desks and interactive voice response systems continue to increase in both volume and sophistication.
•Cyber-attacks involving the encryption and/or threat to disclose personal or confidential information (i.e., ransomware) or disruptions of communications (i.e., denial of service) for the purposes of, among other things, extortion or other motives persist and are on the rise.
•Financial services companies and their third-party service providers (including their downstream service providers) are increasingly being targeted by hackers and fraudulent actors seeking to monetize personal or confidential information to extort money, or for other malicious purposes. Such campaigns have targeted online applications and services.
•Nation-state sponsored or affiliated organizations, or politically motivated actors, are engaged in cyber-attacks, not only for monetization purposes, but also to gain information about foreign citizens, businesses and governments, or to influence or cause disruptions in commerce or political affairs. In light of recent geopolitical events, including conflicts in Europe and the Middle East, state-sponsored or affiliated parties and/or their supporters may launch retaliatory cyber-attacks, and may attempt to cause supply chain and other third-party service provider disruptions, or take other geopolitically motivated retaliatory actions that may disrupt our business operations, and/or result in the compromise of our systems or data.
•Increasingly, malicious actors can be in companies’ systems for an extended period of time before being detected. Even if the malicious actors are discovered quickly, it could take considerable additional time for us to determine the scope of compromise, and the extent, amount, and type of information compromised, if any, and to fully contain the malicious actors, remediate and recover.
•Employees, third-party service providers or other individuals purportedly acting on behalf of the Company may fail (as a result of human error or misconduct) to comply with applicable policies and procedures, and/or circumvent controls or safeguards for unauthorized purposes. Our increased adoption of remote working increases these risks, as our interaction with employees and external service providers occur on information systems, networks and environments over which we have less control and which may be more difficult to monitor.
•We rely on third parties to provide services, as described further below. While we maintain certain standards for all vendors that provide us services, our vendors, and in turn, their own service providers, have become subject to security breaches, including as a result of their failure to perform in accordance with their contractual obligations.
•Hardware, software or applications developed by, obtained from, or implemented in accordance with specifications provided by third parties may contain vulnerabilities in design, maintenance or manufacturing that could be exploited to compromise the Company’s information security.
•Continuing use of remote or flexible work arrangements, including remote access tools and mobile technology (including use of personal devices), have expanded potential attack surfaces.
•The proliferation of third-party financial data aggregators and emerging technologies, including the development and use of artificial intelligence, increase our information security risks and exposure.

The development and adoption of artificial intelligence ("AI"), including generative artificial intelligence (“Generative AI”), and its use and anticipated use by us or by third parties on whom we rely, may increase the operational risks discussed above or create new operational risks that we are not currently anticipating. AI technologies offer potential benefits in areas such as customer service personalization and process automation, and we expect to use AI and Generative AI to help deliver products and services and support critical functions. We also expect third parties on whom we rely to do the same. There are significant risks involved in developing and deploying AI and there can be no assurance that the usage of AI will enhance our products or services or be beneficial to our business, including our efficiency or profitability. AI and Generative AI may be misused by us or by such third parties, and that risk is increased by the relative newness of the technology, the speed at which it is being adopted, and the lack of laws, regulations or standards governing its use. Such misuse could expose the Company to legal or regulatory risk, damage customer relationships or cause reputational harm. Further, our ability to continue to develop and efficiently deploy AI technologies depends on access to specific third-party equipment and other physical infrastructure,
42
Table of Contents
such as processing hardware and network capacity, as to which we cannot control the availability or pricing, especially in a highly competitive environment. Our competitors may also adopt AI or Generative AI more quickly or more effectively than we do, which could cause competitive harm. Because the Generative AI technology is so new, some of the potential risks of Generative AI are currently unknowable; however, specific risks relating to AI and Generative AI could include, among others:

•Reputational Damage: Malicious actors could use AI to create deepfakes of the Company's executives or manipulate financial documents, leading to loss of customer trust and significant reputational damage. Moreover, the use of AI trained on inaccurate data sets could result in inaccurate or biased decisions.
•Fraudulent Activity: AI could be used to create forged documents or impersonate individuals to commit financial fraud, leading to financial losses and regulatory scrutiny.
•Misinformation and Disinformation: The ability to generate realistic and convincing synthetic media could be used to spread misinformation and disinformation, impacting public opinion and undermining trust in the financial system.
•Privacy Concerns: AI could be used to create synthetic identities or manipulate personal data, raising privacy concerns related to data breaches and other potential violations of consumer rights and data protection regulations.
•Cybersecurity Threats: AI could be used to create sophisticated phishing attacks or bypass security measures, increasing the risk of cyberattacks and data breaches.

We, or third parties on whom we rely, may not adequately ensure the integrity, confidentiality, or availability of personal and confidential information. In the course of our ordinary business, we collect, store and disclose to various third parties (e.g., service providers, reinsurers, etc.) substantial amounts of personal and confidential information, including in some instances sensitive personal information, including health-related information. We are subject to the risk that the integrity, confidentiality, or availability of this information may be compromised, including as a result of an information security breach described above, or that such events occurring at third parties may not be disclosed to us in a timely manner. And we may have insufficient recourse against such third parties from which such breaches originate. We have experienced cybersecurity events resulting in, among other things, the compromise of personal and confidential information, including sensitive health information, of our employees, customers and other stakeholders. See “Business—Regulation—Privacy and Cybersecurity Regulation” for a discussion of the applicable laws and regulations (including those requiring notice, disclosure or remediation) relating to cybersecurity events.

We may incur significant costs and other negative consequences resulting from cyber-attacks or other information security breaches. Any compromise or perceived compromise of the security of our systems or data or of that of one of our vendors could damage our reputation, cause the deterioration or termination of relationships with, among others, customers, distributors, government-run health insurance exchanges, marketing partners and insurance carriers, reduce demand for our services, result in the loss of business opportunities, and subject us to significant liability and expense as well as regulatory action, penalties and lawsuits, which would harm our business, operating results and financial condition. We may also incur significant costs in connection with our response, recovery, remediation, modification of protective measures, and compliance efforts, including costs associated with mitigating the impact of any errors, interruptions, delays or cessations of service. Additionally, our failure to timely or accurately communicate cyber incidents to relevant parties could result in regulatory, operational and reputational risk. To the extent we maintain cyber insurance, liabilities or losses arising from certain cyber incidents may not be covered or fully covered under such policies, including if our insurer denies coverage as to any particular claim in the future, and may not take into account reputational damage, the costs of which are impossible to quantify, and the amount of insurance may not be adequate. In addition, our insurance coverage with respect to cyber incidents may increase in cost or cease to be available on commercially reasonable terms, or at all, in the future.

Third parties (outsourcing providers, vendors and suppliers and joint venture partners) present added operational risk to our enterprise. The Company's business model relies heavily on the use of third parties to deliver contracted services in a broad range of areas. This presents the risk that the Company is unable to meet legal, regulatory, financial or customer obligations because third parties fail to deliver contracted services, or that the Company is exposed to reputational damage because third parties operate in a poorly controlled manner. We use affiliates and third-party vendors located outside the U.S. to provide certain services and functions, which also exposes us to business disruptions and political risks as a result of risks inherent in conducting business outside of the United States. In our investments in which we hold a minority interest, or that are managed by third parties, we lack management and operational control over operations, which may subject us to additional operational, compliance and legal risks and prevent us from taking or causing to be taken actions to protect or increase the value of those investments. For example, see “Business—Regulation—ERISA.” In those jurisdictions where we are constrained by law from owning a majority interest in jointly owned operations, our remedies in the event of a breach by a joint venture partner may be limited (e.g., we may have no ability to exercise a “call” option).

43
Table of Contents
Affiliate and third-party distributors of our products present added regulatory, competitive and other risks to our enterprise. Our products are sold primarily through captive/affiliated distributors and third-party distributing firms. Our captive/affiliated distributors are made up of sales personnel who are generally compensated based on commissions. The third-party distributing firms are rarely dedicated to us exclusively and may frequently recommend and/or market products of our competitors. Accordingly, we must compete for their services. Our sales could be adversely affected if we are unable to attract, retain or motivate third-party distributing firms or if we do not adequately provide support, training, compensation, and education to this sales network regarding our products, or if our products are not competitive and not appropriately aligned with consumer needs. While third-party distributing firms have an independent regulatory accountability, regulators have been clear with expectations that product manufacturers retain significant sales practices accountability.

The Company and our distributors are subject to rules regarding the standard of care applicable to sales of our products and the provision of advice to our customers, and in recent years many of these rules have been revised or re-examined. In addition, there have been a number of investigations regarding the marketing practices of brokers and agents selling financial services products and the payments they receive. Furthermore, sales practices and investor protection have increasingly become areas of focus in regulatory examinations. These investigations and examinations have resulted in enforcement actions against us and companies in our industry and brokers and agents marketing and selling those companies’ products. Enforcement actions could result in penalties and the imposition of corrective action plans and/or changes to industry practices, which could adversely affect our ability to market our products. If our products are distributed in an inappropriate manner, or to customers for whom they are unsuitable, or distributors of our products otherwise engage in misconduct, we may suffer reputational and other harm to our business and be subject to regulatory action, penalties or damages. Our business may also be harmed if captive/affiliate distributors engage in inappropriate conduct in connection with the sale of third-party products.

See Note 25 to the Consolidated Financial Statements for additional information regarding litigation and regulatory matters relating to the distribution of products.

Many of our distribution personnel are independent contractors or franchisees. From time to time, their status has been challenged in courts and by government agencies, and various legislative or regulatory proposals have been introduced addressing the criteria for determining the status of independent contractors’ classification as employees for, among other things, employment tax purposes or other employment benefits. The costs associated with potential changes with respect to these independent contractor and franchisee classifications have impacted our results previously and could have a material adverse effect on our business in the future.

Although we distribute our products through a wide variety of distribution channels, we do maintain relationships with certain key distributors. For example, a significant amount of our sales in Japan are derived through major Japanese banks and a significant portion of our sales in Japan through Life Consultants is derived through a single association relationship. We periodically negotiate the terms of these relationships, and there can be no assurance that such terms will remain acceptable to us or such third parties. An interruption in certain key relationships could materially affect our ability to market our products and could have a material adverse effect on our business, operating results and financial condition. Distributors may elect to reduce or terminate their distribution relationships with us, including for such reasons as adverse developments in our business, competitiveness of product offerings, adverse rating agency actions or concerns about market-related risks. We are also at risk that key distribution partners may merge, change their business models in ways that affect how our products are sold, or terminate their distribution contracts with us, or that new distribution channels could emerge and adversely impact the effectiveness of our distribution efforts. An increase in bank and broker-dealer consolidation activity could increase competition for access to distributors, result in greater distribution expenses and impair our ability to market products through these channels. Consolidation of distributors and/or other industry changes may also increase the likelihood that distributors will try to renegotiate the terms of any existing selling agreements to terms less favorable to us. Finally, we also may be challenged by new technologies and marketplace entrants that could interfere with our existing relationships.

We may not be able to protect our intellectual property and may be subject to infringement claims. We rely on a combination of contractual rights with employees and third parties and on copyright, trademark, patent and trade secret laws to establish and protect our intellectual property. Although we endeavor to protect our rights, third parties may infringe or misappropriate our intellectual property. We may have to litigate to enforce and protect our copyrights, trademarks, patents, trade secrets and know-how or to determine their scope, validity or enforceability. This would represent a diversion of resources that may be significant, and our efforts may not prove successful. The inability to secure, protect or retain our intellectual property assets could have a material adverse effect on our business and our ability to compete.

We may be subject to claims by third parties for (i) copyright, trademark or patent infringement; (ii) breach of copyright, trademark or license usage rights; or (iii) misappropriation of trade secrets. Any such claims and any resulting litigation could result in significant expense and liability for damages. If we were found to have infringed or misappropriated a third-party
44
Table of Contents
patent or other intellectual property right, we could in some circumstances be enjoined from providing certain products or services to our customers or from utilizing and benefiting from certain methods, processes, copyrights, trademarks, trade secrets or licenses. Alternatively, we could be required to enter into costly licensing arrangements with third parties or implement a costly work around. Any of these scenarios could have a material adverse effect on our business and results of operations.

Model Risk

As a financial services company, we are exposed to model risk, which is the risk of financial loss or reputational damage or adverse regulatory impacts caused by model errors or limitations, incorrect implementation of models, or misuse of or overreliance upon models. Models are utilized by our businesses and corporate areas primarily to project future cash flows associated with pricing products, calculating reserves and valuing assets, as well as in evaluating risk and determining capital requirements, among other uses. Because models are used across the Company, model risk impacts all risk types. As our businesses continue to grow and evolve, the number and complexity of models we utilize expands, increasing our exposure to error in the design, implementation or use of models, including the associated input data and assumptions. Furthermore, model risk will be elevated during periods of transformation or due to new or changing laws or regulations.

Strategic Risk

We are subject to the risk of events that can cause our fundamental business model to change, either through a shift in the businesses in which we are engaged or a change in our execution.

In addition, other risks may become strategic risks. For example, we have considered and must continue to consider the impact of the interest rate environment on new product development and continued sales of interest sensitive products.

Actions by foreign governments could adversely affect the value and long-term growth prospects of our businesses, particularly in emerging markets. For example, pension system reforms being proposed in some jurisdictions (including Chile, Colombia and Peru) may limit the role of private companies, fundamentally changing our business in these markets. Likewise, geopolitical tensions (including those between China and Taiwan) may cause governments to take actions such as the implementation of sanctions or other measures to restrict commercial activity in or among markets where we operate or have other interests. The timing and magnitude of any potential actions is uncertain, as is the effectiveness of any measures we may take to help limit the impact of these actions.

Changes in the regulatory landscape may be unsettling to our business model. New laws and regulations are being considered in the U.S. and our other countries of operation at an increasing pace, as there has been greater scrutiny on financial regulation over the past several years. Proposed or unforeseen changes in law or regulation, or changes in the way existing laws or regulations are enforced, may adversely impact our business. See “Business—Regulation” for a discussion of certain recently enacted and pending proposals by international, federal and state regulatory authorities and their potential impact on our business, including in the following areas:

•Financial sector regulatory reform.
•U.S. federal, state and local and non-U.S. tax laws, including BEAT, GILTI and CAMT.
•Fiduciary rules and other standards of care.
•Our regulation under U.S. state insurance laws and developments regarding group-wide supervision and capital standards, accounting rules, RBC factors for invested assets and reserves for life insurance, variable annuities and other products.
•Insurer capital standards in Japan and other non-U.S. jurisdictions.
•Privacy, data, artificial intelligence and cybersecurity regulation.

Changes in accounting rules applicable to our business may also have an adverse impact on our results of operations or financial condition. For a discussion of accounting pronouncements and their potential impact on our business see Note 2 to the Consolidated Financial Statements.

Changes in technology and other external factors may be unsettling to our business model. We believe the following aspects of technological and other changes would significantly impact our business model. There may be other unforeseen changes in technology and the external environment, including the regulatory response to technological change, which may have a significant impact on our business model.

45
Table of Contents
•Interaction with customers. Technology is moving rapidly and as it does, it puts pressure on existing business models. Some of the changes we can anticipate are increased choices about how customers want to interact with the Company or how they want the Company to interact with them. Evolving customer preferences and changing privacy regulations may drive a need to redesign products and change the way we interact with customers. Our distribution channels may change to become more automated, at the place and time of the customer’s choosing. Such changes clearly have the potential to disrupt our business model.
•Investment Portfolio. Technology may have a significant impact on the companies in which the Company invests. For example, environmental concerns spur scientific inquiry which may reposition the relative attractiveness of wind or sun power over oil and gas. The transportation industry may favor alternative modes of conveyance of goods which may shift trucking or air transport out of favor. Consumers may change their purchasing behavior to favor online activity which would change the role of malls and retail properties.
•Medical Advances. The Company is exposed to the impact of medical advances. The unequal availability of detailed medical information (e.g., genetic testing) to consumers and insurers can create asymmetrical information and create anti-selection risks. Also, technologies that extend lives will challenge our actuarial assumptions particularly related to mortality and longevity risk.

The following items are examples of other factors which could have a meaningful impact on our business.

•A downgrade in our financial strength or credit ratings could potentially, among other things, adversely impact our business prospects, results of operations, financial condition and liquidity. For a discussion of our ratings and the potential impact of a ratings downgrade on our business, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Ratings.” For example, a downgrade in our financial strength or credit ratings may negatively affect the statutory capital position of our Japanese insurance subsidiaries and reduce their ability to return capital to Prudential Financial due to affiliate transactions involving our Japan insurance subsidiaries. For additional information, see “Item 1. Business—Regulation—International Insurance Regulation—Solvency Regulation” and “Item 7. Management Discussion and Analysis—Liquidity and Capital Resources—Dividends and Returns of Capital from Subsidiaries.” We cannot predict what additional actions rating agencies may take, or what actions we may take in response to the actions of rating agencies, which could adversely affect our business. Our ratings could be downgraded at any time and without notice by any rating agency. Credit rating agencies continually review their methodologies, including capital and earnings assessment models, as well as their ratings for the companies that they follow, including us. The credit rating agencies also evaluate the industry as a whole and may change our credit rating based on their overall view of our industry. In addition, a sovereign downgrade could result in a downgrade of our subsidiaries operating in that jurisdiction, and ultimately of Prudential Financial and our other subsidiaries.
•The changing competitive landscape may adversely affect the Company. In each of our businesses, we face intense competition from insurance companies, asset managers, private equity firms and other diversified financial institutions, both for the ultimate customers for our products and, in many businesses, for distribution through non-affiliated distribution channels. Technological advances, changing customer expectations, including related to digital offerings, access to customer data, or other changes in the marketplace may present opportunities for new or smaller companies without established products or distribution channels to meet consumers’ increased expectations more efficiently than us. Fintech and insurtech companies and companies in other industries with greater access to customers and data have the potential to disrupt industries globally, and many participants have been partially funded by industry players. For example, in PGIM, we expect to see continued pressure on fees given the focus on passive investment and the growth of the robo-advice channel.
•Climate change may increase the severity and frequency of calamities, or adversely affect our investment portfolio or investor sentiment. Climate change may increase the frequency and severity of weather-related disasters and pandemics. In addition, climate change regulation may affect the prospects of companies and other entities whose securities we hold, or our willingness to continue to hold their securities. It may also impact other counterparties, including reinsurers, and affect the value of investments, including real estate investments we hold or manage for others. We cannot predict the long-term impacts on us from climate change or related regulation. Climate change may also influence investor sentiment with respect to the Company and investments in our portfolio.
•We may fail to meet expectations relating to environmental, social, and governance standards and practices. Certain existing or potential investors, customers and regulators evaluate our business or other practices according to a variety of environmental, social and governance (“ESG”) standards and expectations. Certain of our regulators have proposed or adopted, or may propose or adopt, ESG rules or standards that would apply to our business. Our practices may be judged by ESG standards that are continually evolving and not always clear. Prevailing ESG standards and expectations may
46
Table of Contents
also reflect contrasting or conflicting values or agendas. We may fail to meet our commitments or targets, and our policies and processes to evaluate and manage ESG standards in coordination with other business priorities may not be completely effective or satisfy investors, customers, regulators, or others. We may face adverse regulatory, investor, customer, media, or public scrutiny leading to business, reputational, or legal challenges.
•Market conditions and other factors may adversely impact product sales or increase expenses. Examples include:
◦A change in market conditions, such as higher inflation and higher interest rates could cause a change in consumer sentiment and behavior adversely affecting sales and persistency of our savings and protection products. Conversely, low inflation and low interest rates could cause persistency of these products to vary from that anticipated and adversely affect profitability. Similarly, changing economic conditions and unfavorable public perception of financial institutions can influence customer behavior, including increasing claims or surrenders in certain products.
◦Sales of our investment-based and asset management products and services may decline, and lapses and surrenders of certain insurance products and withdrawals of assets from investment products may increase if a market downturn, increased market volatility or other market conditions result in customers becoming dissatisfied with their investments or products.
◦Changes in our discount rate, expected rate of return, life expectancy, health care cost and assumptions regarding compensation increases for our pension and other postretirement benefit plans may result in increased expenses and reduce our profitability.
•Our reputation may be adversely impacted if any of the risks described in this section are realized. Reputational risk could manifest from any of the risks as identified in the Company’s risk identification process. Failure to effectively manage risks across a broad range of risk issues exposes the Company to reputational harm. If the Company were to suffer a significant loss in reputation, both policyholders and counterparties could seek to exit existing relationships. Additionally, large changes in credit worthiness, especially credit ratings, could impact access to funding markets while creating additional collateral requirements for existing relationships. The mismanagement of any such risks may potentially damage our reputational asset. Our business is anchored in the strength of our brand, our alignment to our values, and our proven commitment to keep our promises to our customers. Any negative public perception, founded or otherwise, can be widely and rapidly shared over social media or other means, and could cause damage to our reputation.

ITEM 1B.UNRESOLVED STAFF COMMENTS
 
None.

ITEM 1C.CYBERSECURITY
 
Risk Management and Strategy

Because of the size and scope of our business, we are subject to numerous and evolving cybersecurity risks, any of which, if it materializes, could affect our business strategy, results of operations, or financial condition. See “Item 1A. Risk Factors—Operational Risk” for a discussion of such risks.

Cybersecurity risk management is integrated within our risk management framework. See “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Risk Management” for additional information on our risk management processes. We conduct risk identification through several processes at the business unit, corporate, senior management, and Board levels. This framework includes escalation points to Prudential’s risk committees, allowing cyber risk and control matters to be elevated to the Board of Directors or its Audit Committee for oversight.

In order to respond to the threat of security breaches and cyber-attacks, we have developed an information security program designed to protect and preserve the confidentiality, integrity, and continued availability of information owned by, or in the care of, the Company. This information security program provides for the coordination of various corporate functions and governance groups, including global technology, risk, legal, compliance and corporate audit, and serves as a framework for the execution of responsibilities across businesses and operational roles. Among other things, the information security program establishes security standards for our technological resources and includes training for employees, contractors and third parties. Employees with access to our Company’s systems are subject to comprehensive annual training on responsible information security, data security, and cybersecurity practices and how to protect data against cyber threats.

47
Table of Contents
As part of the information security program, we conduct periodic exercises with independent outside advisors to assess the effectiveness of our program and our internal response preparedness. We regularly engage with the broader cybersecurity community and monitor cyber threat information.

To address risks associated with third parties, Prudential has established an enterprise-wide Third-Party Risk Management Program. This program’s features include, among other things, identifying, assessing and managing cybersecurity risks throughout the life of our third-party relationships.

We also maintain an incident response plan, which specifies escalation and evaluation processes for cyber events. This plan is executed in close coordination with our corporate functions, including a dedicated cyber and privacy law function, external affairs, and risk management, and is designed to ensure, among other things, appropriate and timely reporting and disclosure.

When we do experience cybersecurity incidents, like the cybersecurity incident we disclosed in February 2024, we aim to utilize that experience to inform and strengthen our information security program.

During the period covered by this Report, we did not identify any cybersecurity threats that have materially affected or are reasonably likely to materially affect our business strategy, results of operations, or financial condition. See “Item 1A. Risk Factors—Operational Risk” for a discussion of risks related to cybersecurity.

Governance

The Company’s information security program is overseen by the Chief Information Security Officer (“CISO”) and Information Security Office, as well as the Head of Global Technology and Operations (“HGTO”). The CISO and Information Security Office are responsible for monitoring for, and informing management of, cybersecurity incidents impacting Prudential’s systems. We believe that our employees responsible for managing cybersecurity risk have the skills and knowledge to assess and manage the Company’s material risks from cybersecurity threats, and their qualifications include degrees and certifications typical for cybersecurity professionals. We expect these employees to, among other things, understand computer systems, networks, and security technologies and be proficient in a variety of security tools and techniques. The CISO has served in various roles in information technology and information security for over 25 years, including serving as the head of information technology risk at two large public companies. The CISO holds a graduate degree in technology management and has attained the professional certifications of Certified Information Systems Security Professional and Certified Information Privacy Professional. For a description of the relevant expertise of the HGTO, see “Item 1. Business—Information About our Executive Officers.”

The Audit Committee of the Board of Directors, which is responsible for oversight of certain risk issues, including cybersecurity, receives reports from the CISO, the HGTO and Operational Risk Management throughout the year. At least annually, the Board and the Audit Committee also receive updates about the results of program reviews, including exercises and response readiness assessments led by outside advisors who provide a third-party independent assessment of our technical program and internal response preparedness. To the extent cybersecurity controls are related to internal control over financial reporting, such controls are considered in the context of Prudential’s annual external integrated audit.

The Audit Committee regularly briefs the full Board of Directors on these matters, and the full Board of Directors also receives periodic briefings on cyber threats in order to enhance our directors’ literacy on cyber issues.

ITEM 2.PROPERTIES
 
We own our headquarters building located at 751 Broad Street, Newark, New Jersey. Excluding our headquarters building and properties used by our International Businesses and the international operations of PGIM, which are discussed below, as of December 31, 2024, we conduct our business and home office functions in both owned and leased locations throughout the United States. We also conduct back-office functions in leased properties outside of the United States.
 
For our International Businesses, as of December 31, 2024, we own and lease home offices located in Japan, Brazil and Mexico. We also conduct our business in owned and leased properties, primarily field offices, located throughout these same countries. For PGIM’s international operations, as of December 31, 2024, we lease home offices located in Japan, Taiwan, the United Kingdom, India and Ireland. We also lease principal properties and other branch and field offices in other countries where PGIM conducts business.
 
48
Table of Contents
We believe our properties are adequate and suitable for our business as currently conducted and are adequately maintained. The above properties do not include properties we own solely for investment purposes.

At our domestic home office properties, we are developing programs to reduce emissions. These programs include seeking ways to expand energy efficiency. For home office properties in Brazil and Japan, we are also developing waste diversion measures including internal recycling and composting infrastructures and availing ourselves of third-party waste diversion programs. Our Prudential Tower home office property in Newark, New Jersey has been awarded LEED Gold Certification from the U.S. Green Building Council.

ITEM 3.LEGAL PROCEEDINGS
 
See Note 25 to the Consolidated Financial Statements under “—Litigation and Regulatory Matters” for a description of certain pending litigation and regulatory matters affecting us, and certain risks to our businesses presented by such matters.

 ITEM 4.    MINE SAFETY DISCLOSURES

Not applicable.
49
Table of Contents
PART II

ITEM 5.    MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

General
 
Prudential Financial’s Common Stock trades on the New York Stock Exchange under the symbol “PRU.” On January 31, 2025, there were 1,019,340 registered holders of record for the Common Stock and 354 million shares outstanding.

Issuer Purchases of Equity Securities
 
(c) The following table provides information about purchases by the Company during the three months ended December 31, 2024, of its Common Stock: 
PeriodTotal Number of
Shares
Purchased(1)		Average
Price Paid
per Share		Total Number of
Shares Purchased
as Part of
Publicly Announced
Program		Approximate Dollar Value of Shares that May Yet Be Purchased under the Program
October 1, 2024 through October 31, 2024
679,420 $123.85 672,930 
November 1, 2024 through November 30, 2024
666,408 $125.74 662,617 
December 1, 2024 through December 31, 2024
687,131 $121.86 684,318 
Total2,032,959 2,019,865 $0 
__________
(1)Includes shares of Common Stock withheld from participants for income tax withholding purposes whose shares of restricted stock units vested during the period. Such restricted stock units were originally issued to participants pursuant to the Prudential Financial Inc. Omnibus Incentive Plan.

On December 10, 2024, Prudential Financial’s Board of Directors authorized the Company to repurchase, at management’s discretion, up to $1.0 billion of its outstanding Common Stock during the period from January 1, 2025 through December 31, 2025.

The timing and amount of any share repurchases under the Company’s share repurchase authorization will be determined by management based on market conditions and other considerations, and such repurchases may be executed in the open market, through derivative, accelerated repurchase and other negotiated transactions and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.

ITEM 6.    [RESERVED]

Part II. Item 6 is no longer required pursuant to certain amendments to Regulation S-K that eliminated Item 301.

50
Table of Contents
ITEM 7.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 
TABLE OF CONTENTS
 
 Page
51
Table of Contents

Certain of the statements included in this section constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Prudential Financial, Inc. and its subsidiaries. Prudential Financial, Inc.’s actual results may differ, possibly materially, from expectations or estimates reflected in such forward-looking statements. Certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements can be found in the “Risk Factors” and “Forward-Looking Statements” sections included herein.

Pursuant to the FAST Act Modernization and Simplification of Regulation S-K, discussions related to the results of operations for the year ended December 31, 2023 in comparison to the year ended December 31, 2022 have been omitted. For such omitted discussions, refer to Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Overview
 
We have operations primarily in the United States of America (“U.S.”), Asia, Europe and Latin America. Through our subsidiaries and affiliates, we offer a wide array of financial products and services, including life insurance, annuities, retirement solutions, mutual funds and investment management. We offer these products and services to individual and institutional customers through one of the largest distribution networks in the financial services industry.

Our principal operations consist of PGIM (our global investment management business), our U.S. Businesses (consisting of our Retirement Strategies, Group Insurance and Individual Life businesses), our International Businesses, the Closed Block division, and our Corporate and Other operations. The Closed Block division is accounted for as a divested business that is reported separately from the Divested and Run-off Businesses that are included in Corporate and Other. Divested and Run-off Businesses are composed of 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 generally accepted accounting principles in the United States of America (“U.S. GAAP”). Our Corporate and Other operations include corporate items and initiatives that are not allocated to business segments as well as the Divested and Run-off Businesses described above. See “Business—” for a description of our sources of revenue and details on how our profitability is impacted. In addition, our profitability is impacted by our ability to effectively deploy capital, utilize our tax capacity and manage expenses.

Management expects that results will continue to benefit from our mutually-reinforcing business system, which includes a mix of businesses that complement each other to provide competitive advantages, earnings diversification and capital benefits from a balanced risk profile. We believe we are well-positioned to tap into market opportunities to meet the evolving needs of our clients and society at large. Our mix of high-quality protection, retirement and investment management businesses enables us to offer solutions that cover a broad range of financial needs and to engage with our clients through multiple channels.

In September 2023, we, together with Warburg Pincus and a group of institutional investors, announced the launch of Prismic Life Reinsurance, Ltd. (“Prismic Re”), a licensed Bermuda-based life and annuity reinsurance company. In conjunction with this announcement, we made an initial equity investment through our Corporate and Other operations of approximately $200 million, equivalent to a 20% interest, in Prismic Life Holding Company LP (“Prismic”), the Bermuda-exempted limited partnership that owns all of the outstanding capital stock of Prismic Re. We expect the increased reinsurance capacity that this partnership provides to support our vision of expanding access to investing, insurance, and retirement security for people around the world. Our initial transaction, effective September 2023, was to reinsure approximately $9 billion, or 70%, of reserves related to our structured settlement annuities business with Prismic Re. See Note 15 to the Consolidated Financial Statements for additional information regarding this transaction.

As part of our continuous improvement process, we are working to become a leaner and more agile company by simplifying our management structure, empowering our employees with faster decision-making processes and investing in technology and data platforms. As part of this, we implemented changes to our organizational structure and recorded a restructuring charge of $200 million in the fourth quarter of 2023. We expect these continued actions will create operating efficiencies, and provide reinvestment capacity to build capabilities, realize additional efficiencies, strengthen our competitiveness and fuel future growth.

During the fourth quarter of 2024, the Company identified an immaterial error in the application of adjusted operating income, which resulted in an overstatement thereof for indexed variable and fixed annuity products within the Retirement Strategies segment in the first three quarters of 2024 and each of the four quarters of 2023. As a result, the Company has voluntarily revised its historical adjusted operating income for the relevant periods, resulting in decreases in pre-tax adjusted
52
Table of Contents
operating income of $149 million (unaudited) for the nine months ended September 30, 2024, and $55 million for the year ended December 31, 2023. These revisions had no impact to “Net income (loss)” for any period as determined in accordance with GAAP. See Note 23 for additional information regarding adjusted operating income.

Outlook

We feel confident about our prospects for the future based on the foundation of our integrated and complementary businesses. We plan to continue our transformation towards becoming less market-sensitive, including efforts to further de-risk, such as through reinsurance transactions, and to deliver sustainable long-term growth, including investing in products and solutions that meet the evolving needs of our customers. Our plan remains to allocate capital across the businesses with the intention of increasing the earnings contribution from our higher-growth businesses and reducing capital allocated to lower-growth, more capital-intensive businesses.

Specific outlook considerations for each of our businesses include the following:

•PGIM. Our global investment management business, PGIM, is focused on maintaining strong investment performance while leveraging the scale of its approximately $1.375 trillion of assets under management and diversified global operations. We are broadening our distribution channels and asset management capabilities through acquisitions and organic initiatives to better serve our clients and support growth as well as providing asset management services to Prismic. In addition to serving third-party clients, we provide our U.S. and International businesses with a competitive advantage through our investment expertise across a broad array of asset classes, including public and private asset class capabilities. Underpinning our growth strategy is our ability to continue to deliver robust investment performance and to attract and retain high-caliber investment talent.

•Retirement Strategies. We remain focused on helping customers meet their investment and retirement needs by expanding access to retirement security and broadening distribution through new relationships, platforms and advisors. Our Institutional Retirement Strategies business continues to be focused on providing products that respond to the needs of plan sponsors, retirees, and annuitants while maintaining appropriate pricing and return expectations under changing market conditions. We expect our differentiated capabilities and execution to drive our business momentum in the pension risk transfer and international reinsurance markets; however, we expect that growth will not be linear due to the episodic nature of these transactions. In Individual Retirement Strategies, we continue to execute on our strategy to pivot to less interest rate-sensitive products to ensure we realize appropriate returns within the current economic environment. We expect to continue to shift our focus to products that provide protected growth and outcomes for our customers across a wide range of economic environments through simpler, technology-enabled channels.

•Group Insurance. We are a leading group benefits provider with a focus on further diversifying our portfolio by expanding our Premier Market and Association segments and growing voluntary supplemental health, including entering the medical stop loss market with coverage effective dates starting from January 1, 2025, while maintaining leadership in the National Market segment. We also continue to focus on deepening employer and participant relationships and investing in a best-in-class customer experience.

•Individual Life. We continue to focus on making life insurance solutions more accessible to financial professionals, partners and customers by providing a broad product portfolio, including growing the amount of accumulation and simplified protection product options, coupled with our multi-channel distribution capabilities. We have taken pricing and product actions to ensure we realize appropriate returns for the current economic environment and to diversify our product mix to further limit our sensitivity to interest rates.

•International Businesses. We remain focused on meeting customers’ protection and financial needs as well as maintaining the underlying strength of our distribution channels. Our strategy is to strengthen our position in Japan while expanding our footprint in select high-growth emerging markets. We remain committed to enhancing our existing operations while exploring acquisition opportunities to expand scale and complement our portfolio of businesses in emerging markets in support of our long-term growth objectives.

Industry Trends

Our businesses are impacted by financial markets, economic conditions, regulatory oversight, and a variety of trends that affect the industries in which we compete.
53
Table of Contents

Financial and Economic Environment:

•PGIM. After a long period of low interest rates and benign economic conditions, 2022 and 2023 experienced a sharp rise in rates, combined with higher equity market volatility and a downturn in the commercial real estate industry. While the economic outlook has improved, interest rates remain elevated and the real estate market is still in the early stages of recovery. We expect that a stabilized or declining rate environment over time will positively impact PGIM, particularly as investors reallocate record-high money market assets to fixed income, real estate, and other higher-yielding asset classes. Conversely, a deterioration in market conditions (e.g., equity market declines, higher interest rates, credit spread widening or real estate value declines) could lead to lower fee-based revenues, incentive fees taking longer to be realized and losses in our seed and co-investments. An economic downturn could also have impacts on real estate prices as well as transaction volumes in certain private asset classes. We believe PGIM’s uniquely diversified global platform is well positioned to be resilient in the face of market and industry headwinds.

•U.S. Businesses. As discussed further under “—Impact of Changes in the Interest Rate Environment” below, interest rates in the U.S. experienced a prolonged period of historically low levels, followed by a sharp rise in 2022 and sustained higher levels in 2023 and 2024. We expect that a continued level of higher interest rates will benefit our results over time. We continue to monitor current market conditions and the impact to our businesses from slowing or negative economic growth. In addition, we are subject to financial impacts associated with movements in equity markets and the evolution of the credit cycle as discussed in “—Segment Results of Operations,” where applicable, and more broadly in “Item 1A. Risk Factors.”

•International Businesses. Our International Businesses’ operations, especially in Japan, have operated in a low interest rate environment for many years, as discussed under “—Impact of Changes in the Interest Rate Environment” below, and these low interest rates negatively impact our net investment spread results and reinvestment yields. In addition, we are subject to financial impacts associated with movements in foreign currency rates, particularly the Japanese yen. Fluctuations in the value of the yen can impact the relative attractiveness to customers of both yen-denominated and non-yen denominated products thereby impacting both sales and surrenders. In addition, we are subject to financial impacts associated with movements in equity markets and the evolution of the credit cycle as discussed in “—Segment Results of Operations,” where applicable, and more broadly in “Item 1A. Risk Factors.”

Demographics:

•PGIM. An aging global population has led to more de-risking across institutional and individual investor portfolios as well as increased demand for higher-yielding investments that deliver income to meet retirement needs. As a result, investors are increasing their allocations to public and private fixed income assets, where PGIM is a global market leader. As employers, particularly in the U.S. and the U.K., continue to transition from defined benefit pensions to defined contribution plans as their primary retirement vehicles, there is a growing need for personalized retirement solutions that can help improve individual retirement security. Asset managers, such as PGIM, will play a critical role in partnering with governments, corporations, and individuals globally to deliver the investment and advice capabilities required to address this challenge.

•U.S. Businesses. Individual customer demographics continue to evolve and new opportunities present themselves in different consumer segments such as the millennial and multicultural markets. Consumer expectations and preferences are changing. We believe existing and potential customers are increasingly looking for cost-effective solutions that they can easily understand and access through technology-enabled devices. At the same time, income protection, wealth accumulation and the needs of retiring baby boomers are continuing to shape the insurance industry. A persistent retirement security gap exists in terms of both savings and protection.

•International Businesses. Japan has an aging population as well as a large pool of household assets invested in low-yielding deposit and savings vehicles. The aging of Japan’s population, along with strains on government pension and healthcare programs, have led to a growing demand for products that provide financial solutions for retirement, investment and wealth transfer, as well as for health-related products. Brazil has the largest population in South America and has recently experienced a modest increase in population. The nation is undergoing a rapid demographic transition characterized by a growing proportion of aging and middle class populations. This demographic transition has driven demand for diverse life insurance products, particularly tailored to financial security and wealth protection.

Regulatory Environment. See “Business—Regulation” for a discussion of regulatory developments that may impact the Company and the associated risks.
54
Table of Contents

Competitive Environment. See “Business—” for a discussion of the competitive environment and the basis on which we compete in each of our segments.

Impact of Changes in the Interest Rate Environment

As a global financial services company, market interest rates are a key driver of our liquidity and capital positions, cash flows, results of operations and financial position. Changes in interest rates can affect these in several ways, including favorable or adverse impacts to:
•investment-related activity, including: investment income returns, net investment spread results, new money rates, mortgage loan prepayments and bond redemptions;
•the valuation of fixed income investments and derivative instruments;
•collateral posting requirements, hedging costs and other risk mitigation activities;
•customer account values and assets under management, including their impacts on fee-related income;
•insurance reserve levels, including market risk benefits (“MRBs”), and market experience true-ups;
•policyholder behavior, including surrender or withdrawal activity;
•product offerings, design features, crediting rates and sales mix; and
•the fair value of, and possible impairments on, intangible assets such as goodwill.

For additional information regarding interest rate risks, see “Risk Factors—Market Risk.”

See below for a discussion of the current interest rate environment and its impact to net investment spread in our U.S. and Japanese operations along with the composition of their insurance liabilities and policyholder account balances.

U.S. Operations excluding the Closed Block Division
 
While interest rates in the U.S. have experienced a sustained period of historically low levels, rates increased throughout 2022 and have continued to sustain higher levels throughout 2024, and our average reinvestment yield is generally now exceeding our current average portfolio yield.

In order to manage the impacts that changes in interest rates have on our net investment spread, we employ a proactive asset/liability management program, which includes strategic asset allocation and hedging strategies within a disciplined risk management framework. These strategies seek to match the liability characteristics of our products, and to closely approximate the interest rate sensitivity of the assets with the estimated interest rate sensitivity of the product liabilities. Our asset/liability management program also helps manage duration gaps, currency and other risks between assets and liabilities through the use of derivatives. We adjust this dynamic process as products change, as customer behavior changes and as changes in the market environment occur. As a result, our asset/liability management process has permitted us to manage the interest rate risk associated with our products through several market cycles. Our interest rate exposure is also mitigated by our business mix, which includes lines of business for which fee-based and insurance underwriting earnings play a more prominent role in product profitability. We also regularly examine our product offerings and their profitability. As a result, we may reprice certain products and discontinue sales of other products that do not meet our profit expectations.

The portion of the general account supporting our U.S. Businesses and our Corporate and Other operations has approximately $205 billion of fixed maturity securities and commercial mortgage loans (based on net carrying value) as of December 31, 2024, with an average portfolio yield of approximately 4.9%. For this portion of the general account attributable to these operations, we estimate annual principal payments and prepayments that we would be required to reinvest to be approximately 7.4% of the fixed maturity security and commercial mortgage loan portfolios through 2026.

Included in the $205 billion of fixed maturity securities and commercial mortgage loans are approximately $170 billion that are subject to call or redemption features at the issuer’s option and have a weighted average interest rate of approximately 5%. Of this $170 billion, approximately 55% contain provisions for prepayment premiums. Future operating results will be impacted by (i) the reinvestment of scheduled payments or prepayments (not subject to a prepayment fee) at different rates compared to the current portfolio yield, including in some cases at rates below those guaranteed under our insurance contracts, and (ii) our utilization of other asset/liability management strategies, as described above, in order to maintain favorable net investment spread.

55
Table of Contents
The following table sets forth the insurance liabilities and policyholder account balances of our U.S. operations excluding the Closed Block Division, by type, for the date indicated:
As of December 31, 2024
(in billions)
Long-duration insurance products with fixed and guaranteed terms$194 
Contracts with adjustable crediting rates subject to guaranteed minimums37 
Participating contracts where investment income risk ultimately accrues to contractholders1 
Total$232 

The $194 billion above relates to long-duration products such as group annuities, structured settlements and other insurance products that have fixed and guaranteed terms. We seek to manage the impact of changes in interest rates on these contracts through asset/liability management, as discussed above.

The $37 billion above relates to contracts with crediting rates that may be adjusted over the life of the contract, subject to guaranteed minimums. Although we may have the ability to lower crediting rates for those contracts above guaranteed minimums, our willingness to do so may be limited by competitive pressures. For additional information regarding contracts with adjustable crediting rates subject to guaranteed minimums, see Note 13 to the Consolidated Financial Statements. 

The remaining $1 billion of insurance liabilities and policyholder account balances in these operations relates to participating contracts for which the investment income risk is expected to ultimately accrue to contractholders. The crediting rates for these contracts are periodically adjusted based on the return earned on the related assets.

Closed Block Division

Substantially all of the $47 billion of general account assets in the Closed Block division support obligations and liabilities relating to the Closed Block policies only. See Note 16 to the Consolidated Financial Statements for additional information regarding the Closed Block.

Japanese Operations

Japan has experienced a low interest rate environment for many years, during which the Bank of Japan’s monetary policy has resulted in even lower and, at times, negative yields for certain tenors of government bonds; however, recent actions by the Bank of Japan have resulted in an increase in interest rates in 2024.

In order to manage, to the extent possible, the impact that the current interest rate environment has on our net investment spread, our Japanese operations employ a proactive asset/liability management program. We continue to purchase long-term bonds with tenors of 10 years or greater. We also regularly examine our product offerings and their profitability. As a result, we may reprice certain products, adjust commissions for certain products and discontinue sales of other products that do not meet our profit expectations. Additionally, our diverse product portfolio in terms of currency mix and premium payment structure allows us to further manage any impacts from changes in the interest rate environment. For additional information regarding sales within these operations, see “—International Businesses—Sales Results,” below.

The portion of the general account supporting our Japanese operations has approximately $142 billion of fixed maturity securities and commercial mortgage loans (based on net carrying value) as of December 31, 2024, with an average portfolio yield of approximately 3.0%. Our Japanese operations have continued to invest in U.S. dollar (“USD”)-denominated assets supporting our USD-denominated product portfolio, which has now driven average reinvestment rates to exceed current average portfolio rates. For this portion of the general account attributable to these operations, we estimate annual principal payments and prepayments that we would be required to reinvest to be approximately 6.1% of the fixed maturity security and commercial mortgage loan portfolios through 2026.

Included in the $142 billion of fixed maturity securities and commercial mortgage loans are approximately $12 billion that are subject to call or redemption features at the issuer’s option and have a weighted average interest rate of approximately 4%. Of this $12 billion, approximately 7% contain provisions for prepayment premiums. Future operating results will be impacted by (i) the reinvestment of scheduled payments or prepayments (not subject to a prepayment fee) at different rates compared to the current portfolio yield, including in some cases at rates below those guaranteed under our insurance contracts, and (ii) our utilization of other asset/liability management strategies, as described above, in order to maintain favorable net investment spread.
56
Table of Contents

The following table sets forth the insurance liabilities and policyholder account balances of our Japanese operations, by type, for the date indicated:
As of December 31, 2024
 (in billions)
Insurance products with fixed and guaranteed terms$108 
Contracts with a market value adjustment if canceled before maturity
36 
Contracts with adjustable crediting rates subject to guaranteed minimums8 
Total$152 

The $108 billion primarily consists of long-duration insurance products that have fixed and guaranteed terms, for which underlying assets may have to be reinvested at interest rates that are lower than current portfolio yields. The remaining insurance liabilities and policyholder account balances include $36 billion related to contracts that impose a market value adjustment if the contracts are canceled before maturity and $8 billion related to contracts with crediting rates that may be adjusted over the life of the contract, subject to guaranteed minimums. Most of the current crediting rates on these contracts, however, are at or near contractual minimums. Although we have the ability in some cases to lower crediting rates for those contracts that are above guaranteed minimum crediting rates, the majority of this business has interest crediting rates that are determined by formula. See Note 13 to the Consolidated Financial Statements for additional information regarding crediting rates on policyholder account balances.

Results of Operations
 
Consolidated Results of Operations

The following table summarizes net income (loss) for the periods presented:
 
Year Ended December 31,
 202420232022
 (in millions)
Revenues$70,405 $53,979 $56,881 
Benefits and expenses67,196 50,907 58,773 
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
3,209 3,072 (1,892)
Income tax expense (benefit)507 613 (279)
Income (loss) before equity in earnings of joint ventures and other operating entities
2,702 2,459 (1,613)
Equity in earnings of joint ventures and other operating entities, net of taxes
144 49 (62)
Net income (loss)2,846 2,508 (1,675)
Less: Income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests
119 20 (28)
Net income (loss) attributable to Prudential Financial, Inc.$2,727 $2,488 $(1,647)
 
2024 to 2023 Annual Comparison. The $239 million increase in “Net income (loss) attributable to Prudential Financial, Inc.” reflected the following notable items on a pre-tax basis:

•$360 million favorable variance from realized investment gains (losses), net, and related charges and adjustments; and
•$327 million favorable variance from higher adjusted operating income from our business segments (see “Segment Results of Operations” for additional information).

Partially offsetting these increases in “Net income (loss) attributable to Prudential Financial, Inc.” were the following items:

•$453 million unfavorable variance reflecting the change in value of market risk benefits, net of related hedging gains (losses); and
•$162 million unfavorable variance from market experience updates.

57
Table of Contents
“Net income (loss) attributable to Prudential Financial, Inc.” also reflected a $106 million favorable variance from income taxes, primarily reflecting an increase in the non-taxable pre-tax items included above.

Segment Results of Operations
 
We analyze the performance of our segments and Corporate and Other operations using a measure of segment profitability called adjusted operating income. See “—Segment Measures” below for a discussion of adjusted operating income and its use as a measure of segment operating performance.

Shown below are the adjusted operating income contributions of each segment and Corporate and Other operations for the periods indicated and a reconciliation of this segment measure of performance to “Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities” as presented in the Consolidated Statements of Operations.

 
Year Ended December 31,
 202420232022
 (in millions)
Adjusted operating income before income taxes by segment:
PGIM$875 $713 $843 
U.S. Businesses:
Retirement Strategies(1)
3,619 3,513 4,529 
Group Insurance314 319 (16)
Individual Life(205)(95)(1,802)
Total U.S. Businesses(1)
3,728 3,737 2,711 
International Businesses
3,106 3,183 3,205 
Corporate and Other(2)
(1,783)(2,034)(1,561)
Total segment adjusted operating income before income taxes(1)(2)
5,926 5,599 5,198 
Reconciling items:
Realized investment gains (losses), net, and related charges and adjustments(1)(2)(3)
(2,150)(2,510)(6,325)
Change in value of market risk benefits, net of related hedging gains (losses)
(397)56 (443)
Market experience updates(52)110 642 
Divested and Run-off Businesses(4):
Closed Block division(113)(100)(18)
Other Divested and Run-off Businesses(2)(5)
30 21 (887)
Equity in earnings of joint ventures and other operating entities and earnings attributable to noncontrolling interests(6)
(16)(68)(36)
Other adjustments(2)(7)
(19)(36)(23)
Consolidated income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
$3,209 $3,072 $(1,892)
__________
(1)The amount for 2023 reflects the correction of an error related to indexed variable and fixed annuity products within the Retirement Strategies segment. See “—Overview” above for additional information.
(2)Prior period amounts have been updated to conform to current period presentation.
(3)See “—General Account Investments” and Note 23 to the Consolidated Financial Statements for additional information.
(4)Represents the contribution to income (loss) of Divested and Run-off Businesses that have been or will be sold or exited, including businesses that have been placed in wind-down, but did not qualify for “discontinued operations” accounting treatment under U.S. GAAP. See “—Divested and Run-off Businesses” for additional information.
(5)Includes goodwill impairments of $177 million and $903 million recorded in the fourth quarters of 2023 and 2022, respectively, related to Assurance IQ. See Note 2 and Note 10 to the Consolidated Financial Statements for additional information.
(6)Equity in earnings of joint ventures and other operating entities is included in adjusted operating income but excluded from “Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities” as it is reflected on an after-tax U.S. GAAP basis as a separate line in the Consolidated Statements of Operations. Earnings attributable to noncontrolling interests are excluded from adjusted operating income but included in “Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities” as they are reflected on a U.S. GAAP basis as a separate line in the Consolidated Statements of Operations. Earnings attributable to noncontrolling interests represent the portion of earnings from consolidated entities that relates to the equity interests of minority investors.
(7)Includes certain components of consideration for business acquisitions, which are recognized as compensation expense over the requisite service periods.

Segment results for 2024 presented above reflect the following:

58
Table of Contents
PGIM. Results for 2024 increased in comparison to 2023, primarily reflecting higher net asset management fees and net other related revenues, partially offset by higher expenses.

Retirement Strategies. Results for 2024 increased in comparison to 2023, inclusive of a favorable comparative net impact from our annual reviews and update of assumptions and other refinements. Excluding this item, results decreased, primarily driven by higher expenses and lower net fee income, partially offset by higher net investment spread results.

Group Insurance. Results for 2024 decreased in comparison to 2023, inclusive of a less favorable comparative net impact from our annual reviews and update of assumptions and other refinements. Excluding this item, results increased, primarily driven by higher underwriting results and higher net investment spread results, partially offset by higher expenses.

Individual Life. Results for 2024 decreased in comparison to 2023, inclusive of an unfavorable comparative net impact from our annual reviews and update of assumptions and other refinements. Excluding this item, results decreased, primarily driven by higher expenses, including costs associated with the recent guaranteed universal life reinsurance transactions as well as from the consolidation of our internal captive reinsurance arrangements, partially offset by the ongoing favorable impacts from these reinsurance transactions.

International Businesses. Results for 2024 decreased in comparison to 2023, inclusive of an unfavorable net impact from foreign currency exchange rates and an unfavorable comparative net impact from our annual reviews and update of assumptions and other refinements. Excluding these items, results increased, primarily driven by higher net investment spread results and higher earnings from joint ventures and other operating entities, partially offset by lower underwriting results.

Corporate and Other. Results for 2024 reflected decreased losses in comparison to 2023, primarily driven by lower net charges from other corporate activities.

Closed Block Division. Results for 2024 decreased in comparison to 2023, primarily driven by lower net investment activity results, partially offset by a reduction in the policyholder dividend obligation.

Segment Measures
 
Adjusted Operating Income. In managing our business, we analyze the operating performance of our segments and our Corporate and Other operations using “adjusted operating income.” Adjusted operating income does not equate to “Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities” or “Net income (loss)” as determined in accordance with U.S. GAAP but is the measure of segment profit or loss we use to evaluate segment performance and allocate resources and, consistent with authoritative guidance, is our measure of segment performance. The adjustments to derive adjusted operating income are important to an understanding of our overall results of operations. Adjusted operating income is not a substitute for income determined in accordance with U.S. GAAP, and our definition of adjusted operating income may differ from that used by other companies; however, we believe that the presentation of adjusted operating income as we measure it for management purposes enhances the understanding of our results of operations by highlighting the results from ongoing operations and the underlying profitability of our businesses.

See Note 23 to the Consolidated Financial Statements for additional information regarding the presentation of segment results and our definition of adjusted operating income.
 
Annualized New Business Premiums. In managing our Individual Life, Group Insurance and International Businesses segments, we analyze annualized new business premiums, which do not correspond to revenues under U.S. GAAP. Annualized new business premiums measure the current sales performance of the business, while revenues primarily reflect the renewal persistency of policies written in prior years and net investment income, in addition to current sales. Annualized new business premiums include 10% of first year premiums or deposits from single-payment products in our Individual Life and International Businesses segments. No other adjustments are made for limited-payment contracts.

The amount of annualized new business premiums for any given period can be significantly impacted by several factors, including but not limited to: addition of new products, discontinuation of existing products, changes in credited interest rates for certain products and other product modifications, changes in premium rates, changes in tax laws, changes in regulations or changes in the competitive environment. Sales volume may increase or decrease prior to certain of these changes becoming effective, and then fluctuate in the other direction following such changes.

Assets Under Management. In managing our PGIM segment, we analyze assets under management (which do not correspond directly to U.S. GAAP assets) because the principal source of revenues is fees based on assets under management.
59
Table of Contents
Assets under management represent the fair market value or account value of assets that we manage directly for institutional clients, retail clients, and for our general account, as well as assets invested in our products that are managed by third-party managers.

Account Values. In managing our Retirement Strategies segment, we analyze account values, which do not correspond directly to U.S. GAAP assets. Net additions (withdrawals) in our Institutional Retirement Strategies business and sales (redemptions) in our Individual Retirement Strategies business do not correspond to revenues under U.S. GAAP but are used as a relevant measure of business activity.

Impact of Foreign Currency Exchange Rates

Foreign currency exchange rate movements and related hedging strategies
 
As a U.S.-based company with significant business operations outside the U.S., particularly in Japan, we are subject to foreign currency exchange rate movements that could impact our USD-equivalent shareholder return on equity. We seek to mitigate this impact through various hedging strategies, including holding USD-denominated assets in certain of our foreign subsidiaries.

In order to reduce equity volatility from foreign currency exchange rate movements, we primarily utilize a yen hedging strategy that calibrates the hedge level to preserve the relative contribution of our yen-based business to the Company’s overall return on equity on a leverage neutral basis. We implement this hedging strategy utilizing a variety of instruments, including USD-denominated assets and dual currency and synthetic dual currency investments held locally in our Japanese insurance subsidiaries. The total hedge level may vary based on our periodic assessment of the relative contribution of our yen-based business to the Company’s overall return on equity.

The table below presents the aggregate amount of instruments that serve to hedge the impact of foreign currency exchange movements on our USD-equivalent shareholder return on equity from our Japanese insurance subsidiaries as of the dates indicated.
 December 31,
 20242023
 (in billions)
Foreign currency hedging instruments:
USD-denominated assets associated with yen-based entities(1)
$6.1 $7.2 
Dual currency and synthetic dual currency investments(2)0.3 0.3 
Total foreign currency hedges$6.4 $7.5 
__________
(1)Includes USD-denominated fixed maturities at amortized cost plus any related accrued investment income, as well as USD notional amount of foreign currency derivative contracts outstanding. Note this amount represents only those USD assets serving to hedge the impact of foreign currency volatility on equity. Separate from this program, our Japanese operations also have $83.2 billion and $80.0 billion as of December 31, 2024 and 2023, respectively, of USD-denominated assets supporting USD-denominated liabilities related to USD-denominated products.
(2)Dual currency and synthetic dual currency investments are held by our yen-based entities in the form of fixed maturities and loans with a yen-denominated principal component and USD-denominated interest income. The amounts shown represent the present value of future USD-denominated cash flows.

The USD-denominated investments that hedge the impact of foreign currency exchange rate movements on USD-equivalent shareholder return on equity from our Japanese insurance operations are reported within yen-based entities and, as a result, foreign currency exchange rate movements will impact their value reported within our yen-based Japanese insurance entities. We seek to mitigate the risk that future unfavorable foreign currency exchange rate movements will decrease the value of these USD-denominated investments reported within our yen-based Japanese insurance entities, and therefore negatively impact their equity and regulatory solvency margins, by having our Japanese insurance operations enter into currency hedging transactions with a subsidiary of Prudential Financial. These hedging strategies have the economic effect of moving the change in value of these USD-denominated investments due to foreign currency exchange rate movements from our Japanese yen-based entities to our USD-based entities.
 
These USD-denominated investments also pay a coupon which is generally higher than what a similar yen-denominated investment would pay. The incremental impact of this higher yield on our USD-denominated investments, as well as our dual currency and synthetic dual currency investments, will vary over time, and is dependent on the duration of the underlying investments as well as interest rate environments in both the U.S. and Japan at the time of the investments.
 
60
Table of Contents
Impact of intercompany foreign currency exchange rate arrangements on segment results of operations
 
The financial results of our International Businesses and PGIM reflect the impact of intercompany arrangements with our Corporate and Other operations pursuant to which these segments’ non-USD-denominated earnings are translated at fixed currency exchange rates that are predetermined during the third quarter of the prior year using forward currency exchange rates. Results of our Corporate and Other operations include differences between the translation adjustments recorded by the segments at the fixed currency exchange rate versus the actual average rate during the period.

In addition, specific to our International Businesses where we hedge certain currencies utilizing forward currency contracts with third parties, the results of our Corporate and Other operations also include the impact of any gains or losses recorded from these contracts that settled during the period, which include the impact of any over or under hedging of actual earnings that differ from projected earnings.

The table below presents, for the periods indicated, the increase (decrease) to revenues and adjusted operating income for our International Businesses, PGIM and Corporate and Other operations, reflecting the impact of these intercompany arrangements.

 
Year Ended December 31,
 202420232022
 (in millions)
Segment impacts of intercompany arrangements:
International Businesses$(8)$(28)$(57)
PGIM3 1 11 
Impact of intercompany arrangements(1)(5)(27)(46)
Corporate and Other:
Impact of intercompany arrangements(1)5 27 46 
Settlement gains (losses) on forward currency contracts(2)(11)(31)21 
Net benefit (detriment) to Corporate and Other(6)(4)67 
Net impact on consolidated revenues and adjusted operating income$(11)$(31)$21 
__________
(1)Represents the difference between non-USD-denominated earnings translated on the basis of weighted average monthly currency exchange rates versus fixed currency exchange rates determined in connection with the foreign currency income hedging program.
(2)As of December 31, 2024, 2023, and 2022, the total notional amounts of these forward currency contracts within our Corporate and Other operations were $0.8 billion, $0.8 billion and $0.7 billion, respectively.
 
Impact of products denominated in non-local currencies on U.S. GAAP earnings
 
While our international insurance operations offer products denominated in local currency, several also offer products denominated in non-local currencies. This is most notable in our Japanese operations, which currently offer primarily USD-denominated products, but have also historically offered Australian dollar (“AUD”)-denominated products. The non-local currency-denominated insurance liabilities related to these products are supported by investments denominated in corresponding currencies, including a significant portion designated as available-for-sale. While the impact from foreign currency exchange rate movements on these non-local currency-denominated assets and liabilities is economically matched, differences in the accounting for changes in the value of these assets and liabilities due to changes in foreign currency exchange rate movements have historically resulted in volatility in U.S. GAAP earnings.

As a result, we implemented a structure in Gibraltar Life’s operations that disaggregated the USD- and AUD-denominated businesses into separate divisions, each with its own functional currency that aligns with the underlying products and investments. The result of this alignment was to reduce differences in the accounting for changes in the value of these assets and liabilities that arise due to changes in foreign currency exchange rate movements. For the USD- and AUD-denominated assets that were transferred under this structure, the net cumulative unrealized investment gains associated with foreign exchange remeasurement that were recorded in “Accumulated other comprehensive income (loss)” (“AOCI”) totaled $1.1 billion and $1.4 billion as of December 31, 2024 and 2023, respectively, and will be recognized in earnings within “Realized investment gains (losses), net” over time as these assets mature or are sold. Absent the sale of any of these assets prior to their stated maturity, approximately 3% of the $1.1 billion balance as of December 31, 2024 will be recognized in 2025, approximately 5% will be recognized in 2026, and the remaining balance will be recognized from 2027 through 2051.
 
61
Table of Contents
Highly inflationary economies
 
Our former insurance operations in Argentina, Prudential of Argentina (“POA”), historically utilized the Argentine peso as its functional currency given it is the currency of the primary economic environment in which the entity operated. During 2018, Argentina experienced a cumulative inflation rate that exceeded 100% over a 3-year period. As a result, Argentina’s economy was deemed to be highly inflationary, resulting in reporting changes effective July 1, 2018. Under U.S. GAAP, the financial statements of a foreign entity in a highly inflationary economy are to be remeasured as if its functional currency (formerly the Argentine peso) is the reporting currency of its parent reporting entity (the USD) on a prospective basis. While this changed how the results of POA were remeasured and/or translated into USD, the impact to our financial statements was not material given the relative size of those operations. As discussed further in “—International Businesses” below, in March 2024, the Company entered into a definitive agreement to sell POA and transferred these operations into the Divested and Run-off Businesses that are included within our Corporate and Other operations. The transaction was completed in May 2024.

Enterprise Group, our strategic investment in Ghana, has historically utilized the Ghanaian cedi as its functional currency given it is the currency of the primary economic environment in which the entity operates. In the fourth quarter of 2023, Ghana experienced a cumulative inflation rate that exceeded 100% over a 3-year period. As a result, Ghana’s economy was deemed to be highly inflationary, which requires the results of our investment in Enterprise Group to be remeasured in USD, effective January 1, 2024, as per the U.S. GAAP requirements described above. The impact to our financial statements was not material nor is it expected to have a material impact to our financial statements in future periods given the relative size of the investment.

Accounting Policies & Pronouncements

Application of Critical Accounting Estimates

The preparation of financial statements in conformity with U.S. GAAP requires the application of accounting policies that often involve a significant degree of judgment. Management, on an ongoing basis, reviews the estimates and assumptions used in the preparation of the Company’s financial statements. If management determines that modifications to assumptions and estimates are appropriate given current facts and circumstances, the Company’s results of operations and financial position as reported in the Consolidated Financial Statements could change significantly.

The following sections discuss the accounting policies applied in preparing our financial statements that management believes are most dependent on the application of estimates and assumptions and require management’s most difficult, subjective, or complex judgments.

Insurance Liabilities

Future Policy Benefits

Future Policy Benefit Reserves, including Unpaid Claims and Claim Adjustment Expenses

We establish reserves for future policy benefits to, or on behalf of, policyholders using methodologies prescribed by U.S. GAAP. The reserving methodologies used include the following:

•For most long-duration contracts, we utilize a net premium valuation methodology in measuring the liability for future policy benefits. Under this methodology, the Company accrues a liability for future policy benefits when premium revenue is recognized. The liability is based on the present value of expected future benefits to be paid to or on behalf of policyholders and related non-level claim settlement expenses less the present value of expected future net premiums (portion of the gross premium required to provide for all benefits and related non-level claim settlement expenses using current best estimate assumptions). A net-to-gross (“NTG”) ratio is calculated as the ratio of the present value of expected policy benefits and non-level claim settlement expenses divided by the present value of expected gross premiums. The NTG ratio is applied to gross premiums, as premium revenue is recognized, to determine net premiums that are subtracted from the present value of expected benefits and non-level claim settlement expenses to determine the liability for future policy benefits, which cannot be less than zero. The NTG ratio at the cohort measurement unit level cannot exceed 100%, and if it exceeds 100%, the excess benefit expenses are recorded as a charge to current period earnings. The result of the net premium valuation methodology is that the liability at any point in time represents an accumulation of the portion of premiums received to date expected to fund future benefits (i.e., net premiums received to date), less any benefits and expenses already paid. The liability does not necessarily reflect the full policyholder obligation the Company expects to pay at the conclusion of the contract since a portion of that obligation would be funded by net premiums received in the future and would be recognized in the liability at that time. The insurance cash
62
Table of Contents
flow assumptions are updated quarterly to reflect actual experience and are generally updated annually to reflect changes in best estimate future insurance cash flow assumptions using a retrospective unlocking method with the impact recorded through current period earnings. At the time of an experience or best estimate assumption unlocking, a revised NTG ratio is calculated using actual historical cash flow experience and updated, if any, best estimate future cash flow assumptions, discounted using the locked-in discount rate. The revised NTG ratio is then applied to prior period cash flows to derive a cumulative catch-up adjustment as of the beginning of the quarter. The revised NTG ratio is then used going forward to accrue the reserve, until the next unlocking. The liability is also remeasured each quarter using a current discount rate, based on an upper-medium grade fixed-income instrument yield, with the impact recorded through accumulated other comprehensive income. Expense assumptions included in the liability only include claim related expenses and exclude acquisition costs and non-claim related costs such as costs relating to investments, general administration, policy maintenance, product development, market research, and general overhead.

•For limited-payment contracts, in addition to the liability calculated using the net premium valuation method described above, a deferred profit liability (“DPL”) is established for the amount of gross premiums received in excess of expected net premiums and is amortized into premium income in relation to the discounted amount of insurance in force for life insurance or expected benefit payments for annuity contracts. The DPL is subject to a retrospective unlocking adjustment consistent with the liability for future policy benefits.

•For certain contract features, such as no-lapse guarantees, a liability is established when associated assessments (which include investment margin on policyholders’ account balances deposited to fixed and indexed funds and policy charges for administration, mortality, expense, surrender, and other charges) are recognized. This liability is established using current best estimate assumptions and is based on the ratio of the present value of total expected excess payments (e.g., payments in excess of account value) over the life of the contract divided by the present value of total expected assessments (i.e., benefit ratio). The liability equals the current benefit ratio multiplied by cumulative assessments recognized to date, plus interest, less cumulative excess payments to date. The liability does not necessarily reflect the full policyholder obligation the Company expects to pay at the conclusion of the contract since a portion of that excess payment would be funded by assessments received in the future and would be recognized in the liability at that time. The reserves are subject to adjustments based on annual reviews of assumptions and quarterly adjustments for experience as described below, including market performance. These adjustments reflect the impact on the benefit ratio of using actual historical experience from the issuance date to the balance sheet date plus updated estimates of future experience. The updated benefit ratio is then applied to all prior periods’ assessments to derive an adjustment to the reserve recognized through a benefit or charge to current period earnings.

•For universal life type contracts and participating contracts, the Company performs premium deficiency tests using best estimate assumptions, at a minimum, on an annual basis, and on a quarterly basis for business whose profitability is closely tied to equity market performance. If the current net reserves are less than the best estimate liability, the existing net reserves are adjusted by first reducing the associated deferred sales inducements (“DSI”) or value of business acquired (“VOBA”) by the amount of the deficiency or to zero through a charge to current period earnings. If the deficiency is more than the DSI or VOBA for insurance contracts, the net reserves are increased by the excess through a charge to current period earnings. Since investment yields are used as the discount rate, the premium deficiency test is also performed using a discount rate based on the market yield (i.e., assuming what would be the impact if any unrealized gains (losses) were realized as of the testing date). In the event that by using the market yield a deficiency occurs, an adjustment is established for the deficiency and is included in AOCI.

Annual assumptions review and quarterly adjustments

The assumptions used in establishing reserves are generally based on the Company’s experience, industry experience and/or other factors, as applicable. We update our actuarial assumptions, such as mortality, morbidity, retirement and policyholder behavior assumptions, annually unless a material change in our own experience or in industry experience made available to us is observed in an interim period that we feel is indicative of a long-term trend. Generally, we do not expect trends to change significantly in the short-term and, to the extent these trends may change, we expect such changes to be gradual over the long term.

We perform an annual comprehensive review of the assumptions used for estimating future premiums, benefits, and other cash flows, including reviews related to mortality, morbidity, lapse, surrender, and other contractholder behavior assumptions, and economic assumptions, including expected future rates of returns on investments. The Company generally looks to relevant Company experience as the primary basis for these assumptions. If relevant Company experience is not available or does not have sufficient credibility, the Company may look to experience of similar blocks of business, either elsewhere within the Company or within the industry. As part of this review, we may update these assumptions and make refinements to our models
63
Table of Contents
based upon emerging experience, future expectations and other data, including any observable market data we feel is indicative of a long-term trend. The impact on our results from operations of changes in these assumptions can be offsetting and we are unable to predict their movement or impact over time.

The quarterly adjustments for market performance referred to above reflect the impact of changes to our estimate of future rates of returns on investments to reflect actual fund performance and market conditions. A portion of returns on investments for our variable life contracts are dependent upon the total rate of return on assets held in separate account investment options. This rate of return influences the fees we earn and expected claims to be paid on variable life contracts, as well as other sources of profit. Returns that are higher than our expectations for a given period produce higher than expected account balances, which increase the future fees we expect to earn on variable life contracts and decrease expected claims to be paid on variable life contracts. The opposite occurs when returns are lower than our expectations.

The weighted average rate of return assumptions used in developing estimated market returns consider many factors specific to each product type, including asset durations, asset allocations and other factors. With regard to equity market assumptions, the near-term future rate of return assumption used in evaluating liabilities for future policy benefits for certain of our products, primarily our domestic and international variable life insurance products, is generally updated each quarter and is derived using a reversion to the mean approach, a common industry practice. Under this approach, we consider historical equity returns and adjust projected equity returns over an initial future period of five years (the “near-term”) so that equity returns converge to the long-term expected rate of return. If the near-term projected future rate of return is greater than our near-term maximum future rate of return of 15.0%, we use our maximum future rate of return. If the near-term projected future rate of return is lower than our near-term minimum future rate of return of 0%, we use our minimum future rate of return. As of December 31, 2024, our domestic variable life insurance businesses assume an 8.0% long-term equity expected rate of return and a 2.9% near-term mean reversion equity expected rate of return, and our international variable life insurance business assumes a 5.0% long-term equity expected rate of return and a 0.2% near-term mean reversion equity expected rate of return.

With regard to interest rate assumptions used in evaluating liabilities for future policy benefits for certain of our products, we update the long-term and near-term future rates used to project fixed income returns annually and quarterly, respectively. As a result of our 2024 annual reviews and update of assumptions and other refinements, we increased our long-term expectation of both the 10-year U.S. Treasury rate and 10-year Japanese Government Bond yield by 25 basis points, and now grade to rates of 3.50% and 1.25%, respectively, over ten years. As part of our quarterly market experience updates, we update our near-term projections of interest rates to reflect changes in current rates. For additional information regarding discount rates used to establish the liability for future policy benefits, see Note 2 to the Consolidated Financial Statements.

The following paragraphs provide additional details about the reserves we have established:

International Businesses. The reserves for future policy benefits of our International Businesses, which as of December 31, 2024, represented 37% of our total future policy benefit reserves, primarily relate to non-participating whole life and term life products and endowment contracts, and are generally calculated using the net premium valuation methodology, as described above. The primary assumptions used in determining expected future benefits and expenses include mortality, lapse, morbidity, and interest rate assumptions. Reserves also include claims reported but not yet paid, and claims incurred but not yet reported. In addition, future policy benefit reserves for certain contracts also include amounts related to our deferred profit liability, as described above.

Institutional Retirement Strategies. The reserves for future policy benefits of our Institutional Retirement Strategies segment, which as of December 31, 2024, represented 32% of our total future policy benefit reserves, primarily relate to our non-participating life contingent group annuity and structured settlement products and are generally calculated using the net premium valuation methodology, as described above. The primary assumptions used in establishing these reserves include mortality, retirement, and interest rate assumptions. In addition, future policy benefit reserves for certain contracts also include amounts related to our deferred profit liability, as described above.

Individual Retirement Strategies. The reserves for future policy benefits of our Individual Retirement Strategies segment, which as of December 31, 2024, represented less than 1% of our total future policy benefit reserves, primarily relate to reserves for life contingent payout annuity contracts for which a deferred profit liability is established for the amount of gross premiums received in excess of net premiums, and are generally calculated using the net premium valuation methodology. The primary assumptions used in determining expected future benefits and expenses include mortality and interest rate assumptions.

Individual Life. The reserves for future policy benefits of our Individual Life segment, which as of December 31, 2024, represented 10% of our total future policy benefit reserves, primarily relate to term life and universal life products. For term life contracts, the future policy benefit reserves are generally calculated using the net premium valuation methodology, as described
64
Table of Contents
above. The primary assumptions used in determining expected future benefits and expenses include mortality, lapse, and interest rate assumptions. For universal life products, which include universal life contracts that contain no-lapse guarantees, reserves for future policy benefits are established using current best estimate assumptions and are based on the benefit ratio, as described above. The primary assumptions used in establishing these reserves generally include mortality, lapse, and premium pattern, as well as interest rate and equity market return assumptions. Reserves also include claims reported but not yet paid, and claims incurred but not yet reported.

Group Insurance. The reserves for future policy benefits of our Group Insurance segment, which as of December 31, 2024, represented 2% of our total future policy benefit reserves, primarily relate to reserves for group life and disability benefits. For short-duration contracts, a liability is established when the claim is incurred. The reserves for group life and disability benefits also include a liability for unpaid claims and claim adjustment expenses, which relates primarily to the group long-term disability product. This liability represents our estimate of the present value of future disability claim payments and expenses as well as estimates of claims that have been incurred, but have not yet been reported, as of the balance sheet date. The primary assumptions used in determining expected future claim payments are claim termination factors, an assumed interest rate and expected Social Security offsets. The remaining reserves for future policy benefits for group life and disability benefits relate primarily to our group life business, and include reserves for waiver of premium, claims reported but not yet paid, and claims incurred but not yet reported. The waiver of premium reserve is calculated as the present value of future benefits and utilizes assumptions such as expected mortality and recovery rates. The reserve for claims reported but not yet paid is based on the inventory of claims that have been reported but not yet paid. The reserve for claims incurred but not yet reported is estimated using expected patterns of claims reporting.

Corporate and Other. The reserves for future policy benefits of our Corporate and Other operations, which as of December 31, 2024, represented 3% of our total future policy benefit reserves, primarily relate to our long-term care products and are generally calculated using the net premium valuation methodology, as described above. The primary assumptions used in establishing these reserves include morbidity, mortality, mortality improvement, persistency, premium rate increases, inflation, and interest rate assumptions.

Closed Block Division. The future policy benefit reserves for the traditional participating life insurance products of the Closed Block division, which as of December 31, 2024, represented 16% of our total future policy benefit reserves are determined using the net premium valuation methodology. In applying this method, we use mortality assumptions to determine our expected future benefits and expected future premiums, and apply an interest rate to determine the present value of both of these amounts. The mortality assumptions are based on standard industry mortality tables that were used to determine the cash surrender value of the policies, and the interest rates used are the interest rates used to calculate the cash surrender value of the policies.

Policyholders’ Account Balances

Policyholders’ account balances liability represents the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. This liability is primarily associated with the accumulated account deposits, plus interest credited, less policyholder withdrawals and other charges assessed against the account balance, as applicable. Policyholders’ account balances also include amounts representing the fair value of embedded derivative instruments associated with the index-linked features of certain universal life and annuity products. The changes in the fair value of the embedded derivatives, including changes in non-performance risk (“NPR”), are recorded in net income. For additional information regarding the valuation of these embedded derivatives, see Note 6 to the Consolidated Financial Statements.

Market Risk Benefits (“MRBs”)

Market risk benefit liabilities (or assets) represent contracts or contract features that provide protection to the contractholder and expose the Company to other than nominal capital market risk. MRBs are primarily related to deferred annuities with guaranteed minimum benefits in the Individual Retirement Strategies segment including guaranteed minimum death benefits (“GMDB”), guaranteed minimum income benefits (“GMIB”), guaranteed minimum accumulation benefits (“GMAB”), guaranteed minimum withdrawal benefits (“GMWB”) and guaranteed minimum income and withdrawal benefits (“GMIWB”). The liability (or asset) for MRBs is estimated using a fair value measurement methodology. The fair value of these MRBs is based on assumptions a market participant would use in valuing market risk benefits. On a quarterly basis, the fair value of these MRBs is calculated as the present value of expected future benefit payments to contractholders less the present value of expected future rider fees attributable to the market risk benefits. The changes in the fair value of market risk benefits are recorded in net income, net of related hedges, in “Change in value of market risk benefits, net of related hedging gains (losses),” except for the portion of the change attributable to changes in the Company’s own NPR which is recorded in other comprehensive income (“OCI”). The Company estimates that a hypothetical change to its own credit risk of plus 50 and
65
Table of Contents
minus 50 basis points (“bps”) would result in an increase and a decrease to OCI of $650 million and $700 million, respectively. For additional information regarding the valuation of MRBs, see Note 6 to the Consolidated Financial Statements.

Sensitivities for Insurance Assets and Liabilities

The following table summarizes the aggregate impact that could result on each of the listed financial statement balances from changes in certain key assumptions. The figures below are presented in aggregate for the Company. The information below is for illustrative purposes and includes only the hypothetical impact on December 31, 2024 balances of changes in a single assumption and not changes in any combination of assumptions. Additionally, the illustration of the insurance assumption impacts below reflects a parallel shift in the insurance assumptions across the Company; however, these may be non-parallel in practice and only applicable to specific businesses. Changes in current assumptions could result in impacts to financial statement balances that are in excess of the amounts illustrated. A description of the estimates and assumptions used in the preparation of each of these financial statement balances is provided above. Changes to the insurance cash flow assumptions are reflected in net income through the retrospective unlocking method for traditional long duration, limited-payment and universal life type products.

The impacts presented within this table exclude the impacts of our asset liability management strategy, which seeks to offset the changes in the balances presented within this table and is primarily composed of investments and derivatives. See further below for a discussion of the estimates and assumptions involved with the application of U.S. GAAP accounting policies for these instruments and “Item 7A. Quantitative and Qualitative Disclosures about Market Risk” for hypothetical impacts on related balances as a result of changes in certain significant assumptions. The impacts presented within this table are also net of reinsurance, including the impacts from the recently completed transactions with Somerset Reinsurance Ltd. (“Somerset Re”) and Wilton Reassurance Company and Wilton Reinsurance Bermuda Limited (collectively, “Wilton Re”). See Note 15 to the Consolidated Financial Statements for additional information regarding these reinsurance agreements.

Increase (Decrease) in Net Income due to changes in Future Policy Benefits, Market Risk Benefits(1), and Policyholders' Account Balances, Net of Reinsurance
(in millions)
Hypothetical change in current assumptions:
Long-term interest rate:
Increase by 25 bps
$10 
Decrease by 25 bps
$(10)
Long-term equity expected rate of return:
Increase by 50 bps
$15 
Decrease by 50 bps
$(15)
Mortality:
Increase by 1%
$95 
Decrease by 1%
$(95)
Lapse(2):
Increase by 10%
$200 
Decrease by 10%
$(185)
Long-term care disability claim incidence:
Increase by 5%
$(80)
Decrease by 5%
$85 
__________
(1)“Market risk benefits” reflects the net impact of market risk benefit assets and liabilities prior to hedging.
(2)Assumes the same shock across all products; however, we would not expect lapse rates of different products to move uniformly.






66
Table of Contents
Other Accounting Policies

Goodwill

As of December 31, 2024, our goodwill balance of $1,053 million is primarily reflected in the following reporting units: $946 million for PGIM and $96 million for Gibraltar Life and Other.

We test goodwill for impairment on an annual basis as of December 31 and more frequently if events or circumstances indicate the potential for impairment is more likely than not. The goodwill impairment analysis is performed at the reporting unit level, which is the same as, or one level below, our operating segments. Although the accounting guidance provides for an optional qualitative assessment for testing goodwill impairment, the Company performed the quantitative test for all reporting units and compared each reporting unit’s estimated fair value to its carrying value as of December 31, 2024. The carrying value represents the capital that the business would require if operating as a standalone entity.

The fair value of PGIM as of December 31, 2024 was estimated by utilizing a market approach based on an earnings multiple. The average of forward earnings multiples of comparable publicly traded companies based on independent analysts’ consensus estimates for each company’s forecasted earnings was applied to PGIM’s forecasted results and an implied control premium was added. The fair value for Gibraltar and Other was also estimated using a similar approach. The estimated fair values of both PGIM and Gibraltar and Other significantly exceeded their carrying values, resulting in no goodwill impairment as of December 31, 2024.

The Company recorded pre-tax impairment charges of $177 million and $903 million in 2023 and 2022, respectively, both related to the Assurance IQ (“AIQ”) reporting unit, within Corporate and Other operations, resulting in no remaining goodwill assigned to AIQ as of December 31, 2023.

Estimating the fair value of reporting units is a subjective process that involves the use of significant estimates by management. Unanticipated changes in business performance or the regulatory environment, market declines and other events impacting the fair value of the reporting units with assigned goodwill, or increases in the level of equity required to support these businesses, could cause goodwill impairment charges in future periods. For additional information regarding goodwill and our reporting segments, see Note 2 and Note 10 to the Consolidated Financial Statements.
 
Valuation of Investments, Including Derivatives, Measurement of Allowance for Credit Losses, and the Recognition of Other-than-Temporary Impairments
 
Our investment portfolio consists of public and private fixed maturity securities, commercial mortgage and other loans, equity securities, other invested assets, and derivative financial instruments. Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices, values of securities or commodities, credit spreads, market volatility, expected returns, and liquidity. Derivative financial instruments that are generally used include swaps, futures, forwards and options and may be exchange-traded or contracted in the over-the-counter (“OTC”) market. We are also party to financial instruments that contain derivative instruments that are “embedded” in the financial instruments. Management believes the following accounting policies related to investments, including derivatives, are most dependent on the application of estimates and assumptions. Each of these policies is discussed further within other relevant disclosures related to investments and derivatives, as referenced below:
 
•Valuation of investments, including derivatives;
•Measurement of the allowance for credit losses on fixed maturity securities classified as available-for-sale, commercial mortgage loans, and other loans; and
•Recognition of other-than-temporary impairments (“OTTI”) for equity method investments and wholly-owned investment real estate.
 
We present at fair value in the statements of financial position our debt security investments classified as available-for-sale, investments classified as trading such as our assets supporting experience-rated contractholder liabilities and certain fixed maturities, equity securities, and certain investments within “Other invested assets,” such as derivatives. For additional information regarding the key estimates and assumptions surrounding the determination of fair value of fixed maturity and equity securities, as well as derivative instruments, embedded derivatives and other investments, see Note 6 to the Consolidated Financial Statements and “—Valuation of Assets and Liabilities—Fair Value of Assets and Liabilities.”
 
67
Table of Contents
For our investments classified as available-for-sale, the impact of changes in fair value is recorded as an unrealized gain or loss in AOCI, a separate component of equity. For our investments classified as trading and equity securities, the impact of changes in fair value is recorded within “Other income (loss).” Our commercial mortgage and other loans are carried primarily at unpaid principal balances, net of unamortized deferred loan origination fees and expenses and unamortized premiums or discounts and a valuation allowance for losses.

In addition, an allowance for credit losses is measured each quarter for available-for-sale fixed maturity securities and for commercial mortgage and other loans. For additional information regarding our policies with respect to the measurement of credit losses, see Note 2 to the Consolidated Financial Statements.

For equity method investments and wholly-owned investment real estate, the carrying value of these investments is written down or impaired to fair value when a decline in value is considered to be other-than-temporary.

Pension and Other Postretirement Benefits
 
We sponsor pension and other postretirement benefit plans covering employees who meet specific eligibility requirements. Our net periodic costs for these plans consider an assumed discount (interest) rate, an expected rate of return on plan assets, expected increases in compensation levels, mortality and trends in health care costs. Of these assumptions, our expected rate of return assumptions and our discount rate assumptions have historically had the most significant effect on our net period costs associated with these plans.
 
We determine our expected rate of return on plan assets based upon a building block approach that considers plan asset mix, risk free rates, inflation, real return, term premium, credit spreads, equity risk premium and capital appreciation as well as expenses, the effect of active management and the effect of rebalancing for the equity, debt and real estate asset mix applied on a weighted average basis to our pension asset portfolio. See Note 19 to the Consolidated Financial Statements for our actual asset allocations by asset category and the asset allocation ranges prescribed by our investment policy guidelines for both our pension and other postretirement benefit plans. Our assumed long-term rate of return for 2024 was 7.50% for our domestic pension plans and 6.75% for our other postretirement benefit plans. Given the amount of plan assets as of December 31, 2023, the beginning of the measurement year, if we had assumed an expected rate of return for both our domestic pension and other domestic postretirement benefit plans that was 100 bps higher or 100 bps lower than the rates we assumed, the change in our net periodic costs would have been as shown in the table below. The information provided in the table below considers only changes in our assumed long-term rate of return given the level and mix of invested assets at the beginning of the measurement year, without consideration of possible changes in any of the other assumptions described above that could ultimately accompany any changes in our assumed long-term rate of return.
 
 
For the Year Ended December 31, 2024
 Increase/(Decrease) in Net
Periodic Pension Cost		Increase/(Decrease) in Net
Periodic Other Postretirement Cost
 (in millions)
Increase in expected rate of return by 100 bps$(126)$(11)
Decrease in expected rate of return by 100 bps$126 $11 
 
Foreign pension plans represent 3% of plan assets at the beginning of 2024. An increase in expected rate of return by 100 bps would result in a decrease in net periodic pension costs of $3 million; conversely, a decrease in expected rate of return by 100 bps would result in an increase in net periodic pension costs of $3 million.
 
We determine our discount rate, used to value the pension and postretirement benefit obligations, based upon rates commensurate with current yields on high quality corporate bonds. See Note 19 to the Consolidated Financial Statements for information regarding the December 31, 2023 methodology we employed to determine our discount rate for 2024. Our assumed discount rate for 2024 was 5.30% for our domestic pension plans and 5.20% for our other domestic postretirement benefit plans. Given the amount of pension and postretirement obligations as of December 31, 2023, the beginning of the measurement year, if we had assumed a discount rate for both our domestic pension and other postretirement benefit plans that was 100 bps higher or 100 bps lower than the rates we assumed, the change in our net periodic costs would have been as shown in the table below. The information provided in the table below considers only changes in our assumed discount rate without consideration of possible changes in any of the other assumptions described above that could ultimately accompany any changes in our assumed discount rate.
 
68
Table of Contents
 
For the Year Ended December 31, 2024
 Increase/(Decrease) in Net
Periodic Pension Cost		Increase/(Decrease) in Net
Periodic Other Postretirement Cost
 (in millions)
Increase in discount rate by 100 bps$(53)$(2)
Decrease in discount rate by 100 bps$103 $2 
 
Foreign pension plans represent 11% of plan obligations at the beginning of 2024. An increase in discount rate by 100 bps would result in an increase in net periodic pension costs of $1 million; conversely, a decrease in discount rate by 100 bps would result in an increase in net periodic pension costs of $0 million.

Given the application of the authoritative guidance for accounting for pensions, and the deferral and amortization of actuarial gains and losses arising from changes in our assumed discount rate, the change in net periodic pension cost arising from an increase in the assumed discount rate by 100 bps would not always be expected to equal the change in net periodic pension cost arising from a decrease in the assumed discount rate by 100 bps.

For a discussion of our expected rate of return on plan assets and discount rate for our qualified pension plan in 2024, see “—Results of Operations by Segment—Corporate and Other.”
 
For purposes of calculating pension income from our own qualified pension plan for the year ended December 31, 2025, we increased the discount rate to 5.85% from 5.30% in 2024. The expected rate of return on plan assets increased to 8.00% in 2025 from 7.50% in 2024, and the assumed rate of increase in compensation remained unchanged at 6.25%.
 
In addition to the effect of changes in our assumptions, the net periodic cost or benefit from our pension and other postretirement benefit plans may change due to factors such as actual experience being different from our assumptions, special benefits to terminated employees, or changes in benefits provided under the plans.
 
At December 31, 2024, the sensitivity of our domestic and foreign pension and postretirement obligations to a 100 basis point change in discount rate was as follows.

 December 31, 2024
 
Increase/(Decrease) in
Pension
Benefits Obligation
Increase/(Decrease) in
Accumulated Postretirement
Benefits Obligation
 (in millions)
Increase in discount rate by 100 bps$(849)$(64)
Decrease in discount rate by 100 bps$984 $74 

Taxes on Income
 
Our effective tax rate is based on income, non-taxable and non-deductible items, tax credits, statutory tax rates and tax planning opportunities available in the various jurisdictions in which we operate. Inherent in determining our annual tax rate are judgments regarding business plans, planning opportunities and expectations about future outcomes. The Dividend Received Deduction (“DRD”) is a significant reason for the difference between the Company’s effective tax rate and the U.S. federal statutory rate. The DRD is an estimate that incorporates the prior and current year information, as well as the current year’s equity market performance. Both the current estimate of the DRD and the DRD in future periods can vary based on factors such as, but not limited to, changes in the amount of dividends received that are eligible for the DRD, changes in the amount of distributions received from underlying fund investments, changes in the account balances of variable life and annuity contracts, and the Company’s taxable income before the DRD.

An increase or decrease in our effective tax rate by one percentage point would have resulted in a decrease or increase in our 2024 “Total income tax expense (benefit)” of $32 million.

Contingencies
 
A contingency is an existing condition that involves a degree of uncertainty that will ultimately be resolved upon the occurrence of future events. Accruals for contingencies are required to be established when the future event is probable and its impact can be reasonably estimated, such as in connection with an unresolved legal matter. The initial reserve reflects
69
Table of Contents
management’s best estimate of the probable cost of ultimate resolution of the matter and is revised accordingly as facts and circumstances change and, ultimately, when the matter is brought to closure.
 
Commission Revenue

For digital insurance brokerage placement services provided by AIQ, the Company earns both initial and renewal commissions as compensation for the placement of insurance policies with insurance carriers. At the effective date of the policy, the Company records within “Other income (loss)” the expected lifetime revenue for the initial and renewal commissions considering estimates of the timing of future policy cancellations. These estimates are reassessed each reporting period and any changes in estimates are reflected in the current period. In March 2024, the Company committed to a plan to exit the operations of AIQ.

Adoption of New Accounting Pronouncements
 
There were no new critical accounting estimates resulting from new accounting pronouncements adopted during 2024. See Note 2 to the Consolidated Financial Statements for accounting pronouncements issued but not yet adopted and newly adopted accounting pronouncements.

Results of Operations by Segment
PGIM

Business Updates

•In December 2023, we completed the acquisition of a majority stake in Deerpath Capital Management, LP (“Deerpath”), a leading U.S.-based private credit and direct lending manager with approximately $5 billion in assets under management.

•In July 2024, the Company exited PGIM Wadhwani LLP (“PGIMW”), our London-based managed futures investment management firm. The results of PGIMW, beginning in the second quarter of 2024, are reflected in Divested and Run-off Businesses included within our Corporate and Other operations.

Operating Results
 
The following table sets forth PGIM’s operating results for the periods indicated:
 
 
Year Ended December 31,
 202420232022
 (in millions)
Operating results(1):
Revenues
$4,092 $3,638 $3,622 
Expenses3,217 2,925 2,779 
Adjusted operating income875 713 843 
Realized investment gains (losses), net, and related charges and adjustments
0 0 (8)
Equity in earnings of joint ventures and other operating entities and earnings attributable to noncontrolling interests
132 16 (4)
Other adjustments(2)
(19)(36)(22)
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
$988 $693 $809 
__________
(1)Certain of PGIM’s investment activities are based in currencies other than the USD and are therefore subject to foreign currency exchange rate risk. The financial results of PGIM include the impact of an intercompany arrangement with our Corporate and Other operations designed to mitigate the impact of exchange rate changes on PGIM’s USD-equivalent earnings. For additional information regarding this intercompany arrangement, see “—Results of Operations—Impact of Foreign Currency Exchange Rates,” above.
(2)Includes certain components of consideration for business acquisitions, which are recognized as compensation expense over the requisite service periods.

70
Table of Contents
Adjusted Operating Income
 
2024 to 2023 Annual Comparison. Adjusted operating income increased $162 million, primarily reflecting higher asset management fees, net of related expenses, and higher other related revenues, net of related expenses. These impacts were partially offset by higher compensation expenses.

Revenues and Expenses
 
The following table sets forth PGIM’s revenues, presented on a basis consistent with the table above under “—Operating Results,” by type: 

 
Year Ended December 31,
 202420232022
 (in millions)
Revenues by type:
Asset management fees by source:
Institutional customers$1,530 $1,448 $1,443 
Retail customers(1)1,153 1,014 1,081 
General account496 457 508 
Total asset management fees3,179 2,919 3,032 
Other related revenues by source:
Incentive fees202 46 85 
Transaction fees24 17 14 
Seed and co-investments135 127 3 
Commercial mortgage(2)69 57 127 
Total other related revenues430 247 229 
Service, distribution and other revenues
483 472 361 
Total revenues$4,092 $3,638 $3,622 
__________
(1)Consists of fees from: individual mutual funds and variable annuities and variable life insurance separate account assets; funds invested in proprietary mutual funds through our defined contribution plan products; and third-party sub-advisory relationships. Revenues from fixed annuities and the fixed-rate accounts of variable annuities and variable life insurance are included in the general account.
(2)Includes mortgage origination revenues from our commercial mortgage origination and servicing business.
 
2024 to 2023 Annual Comparison. Revenues increased $454 million. Asset management fees increased, primarily reflecting equity market appreciation and strong investment performance, as well as the impact of the Deerpath acquisition. Other related revenues were favorable, primarily reflecting higher incentive fees due to strong investment performance and the impact of the Deerpath acquisition.

Expenses increased $292 million, primarily reflecting higher variable expenses related to performance-based incentive fees and an increase in overall segment earnings. The increase also reflects higher compensation expenses due to business growth, including the impact of the Deerpath acquisition, and increases related to certain long-term employee compensation plans tied to investment performance.

71
Table of Contents
Assets Under Management
 
The following table sets forth assets under management by asset class as of the dates indicated:


December 31,
 202420232022
 (in billions)
Assets Under Management(1) (at fair value):
Public equity$215.7 $183.6 $147.8 
Public fixed income832.2 799.8 776.8 
Real estate127.2 129.2 129.6 
Private credit and other alternatives118.0 112.1 103.4 
Multi-asset82.1 73.4 70.8 
Total PGIM assets under management$1,375.2 $1,298.1 $1,228.4 
Assets under management within other reporting segments(2)137.2 151.5 148.9 
Total PFI assets under management$1,512.4 $1,449.6 $1,377.3 
__________
(1)“Public equity” represents stock ownership interest in a corporation or partnership (excluding hedge funds) or real estate investment trust. “Public fixed income” represents debt instruments that pay interest and usually have a maturity (excluding mortgages). “Real estate” includes direct real estate equity and real estate mortgages. “Private credit and other alternatives” includes private credit, private equity, hedge funds and other alternative strategies. “Multi-asset” includes funds or products that invest in more than one asset class, balancing equity and fixed income funds and target date funds.
(2)Primarily includes assets related to certain annuity, variable life, retirement and group life products in our U.S. Businesses and Corporate and Other operations, and certain general account assets in our International Businesses. These assets are not directly managed by PGIM, but rather are invested in non-proprietary funds or are managed by either the divisions themselves or by our Chief Investment Officer Organization.

The following table sets forth assets under management by source as of the dates indicated:

  
December 31,
 202420232022
 (in billions)
Assets Under Management(1) (at fair value):
Institutional customers$620.2 $582.6 $549.2 
Retail customers370.9 330.3 299.6 
General account384.1 385.2 379.6 
Total PGIM assets under management$1,375.2 $1,298.1 $1,228.4 
Assets under management within other reporting segments(2)137.2 151.5 148.9 
Total PFI assets under management$1,512.4 $1,449.6 $1,377.3 
__________
(1)“Institutional customers” consist of third-party institutional assets and group insurance contracts. “Retail customers” consist of individual mutual funds and variable annuities and variable life insurance separate account assets, funds invested in proprietary mutual funds through our defined contribution plan products, and third-party sub-advisory relationships. “General account” also includes fixed annuities and the fixed-rate accounts of variable annuities and variable life insurance.
(2)Primarily includes assets related to certain annuity, variable life, retirement and group life products in our U.S. Businesses and Corporate and Other operations, and certain general account assets in our International Businesses. These assets are not directly managed by PGIM, but rather are invested in non-proprietary funds or are managed by either the divisions themselves or by our Chief Investment Officer Organization.

72
Table of Contents
The following table sets forth the component changes in PGIM’s assets under management for the periods indicated:
 
 December 31,
202420232022
 (in billions)
Beginning assets under management$1,298.1 $1,228.4 $1,523.8 
Institutional third-party flows12.2 (23.3)3.0 
Retail third-party flows1.4 (15.1)(23.2)
Total third-party flows13.6 (38.4)(20.2)
Affiliated flows(1)24.1 (5.6)13.2 
Market appreciation (depreciation)(2)60.6 118.3 (240.9)
Foreign exchange rate impact(9.4)(4.3)(16.0)
Net money market activity and other increases (decreases)(3)(11.8)(0.3)(31.5)
Ending assets under management$1,375.2 $1,298.1 $1,228.4 
__________
(1)Represents assets that PGIM manages for the benefit of other reporting segments within the Company. Additions and withdrawals of these assets are attributable to third-party product inflows and outflows in other reporting segments.
(2)Includes income reinvestment, where applicable.
(3)Results for the year ended December 31, 2022 include a reduction in assets under management from the sales of the Full Service Retirement business and Prudential Annuities Life Assurance Corporation (“PALAC”).

2024 to 2023 Annual Comparison. PGIM’s assets under management increased $77 billion in 2024, primarily driven by equity market appreciation, fixed income net inflows and strong investment performance.

Private Capital Deployment

Private capital deployment is indicative of the pace and magnitude of capital that is invested and will result in future revenues that may include management fees, transaction fees, incentive fees and servicing revenues, as well as future costs to manage these assets.

Private capital deployment represents the gross value of private capital invested in real estate debt and equity, and private credit and equity asset classes. Assets under management resulting from private capital deployment are primarily included in “Real estate” and “Private credit and other alternatives” in the “—Assets Under Management—by asset class table” above. As of December 31, 2024, these assets increased approximately $3.9 billion compared to December 31, 2023, primarily reflecting private capital net inflows, partially offset by unfavorable foreign exchange rate impacts.

Private capital deployment includes PGIM’s real estate agency debt business, which consists of agency commercial mortgage loans that are originated and sold to third-party investors. PGIM continues to service these loans; however, they are not included in assets under management.

The following table sets forth PGIM’s private capital deployed by asset class for the periods indicated:

 December 31,
202420232022
 (in billions)
Private capital deployed:
Real estate debt and equity$20.9 $17.6 $26.9 
Private credit and equity22.4 14.0 16.1 
Total private capital deployed$43.3 $31.6 $43.0 
 
Seed and Co-Investments

As of December 31, 2024 and 2023, PGIM had approximately $1,079 million and $1,088 million of seed investments and $415 million and $443 million of co-investments at carrying value, respectively, primarily consisting of public fixed income, public equity, real estate investments, and private credit and other alternatives.

73
Table of Contents
U.S. Businesses

Operating Results
 
The following table sets forth the operating results for our U.S. Businesses for the periods indicated:

 
Year Ended December 31,
 202420232022
(in millions)
Adjusted operating income before income taxes:
U.S. Businesses:
Retirement Strategies(1)
$3,619 $3,513 $4,529 
Group Insurance314 319 (16)
Individual Life(205)(95)(1,802)
Total U.S. Businesses(1)
3,728 3,737 2,711 
Reconciling items:
Realized investment gains (losses), net, and related charges and adjustments(1)(2)
(1,389)(2,023)(4,188)
Change in value of market risk benefits, net of related hedging gains (losses)(414)42 (469)
Market experience updates(143)154 439 
Equity in earnings of joint ventures and other operating entities and earnings attributable to noncontrolling interests
2 0 2 
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
$1,784 $1,910 $(1,505)
__________
(1)The amount for 2023 reflects the correction of an error related to indexed variable and fixed annuity products within the Retirement Strategies segment. See “—Overview” above for additional information.
(2)Prior period amounts have been updated to conform to current period presentation.

2024 to 2023 Annual Comparison. Adjusted operating income for our U.S. Businesses decreased by $9 million primarily due to:

•Higher expenses, primarily driven by higher operating expenses in our Individual Life, Group Insurance, and Institutional Retirement Strategies businesses and higher amortization of acquisition costs in our Individual Retirement Strategies business driven by business growth; and
•Lower fee income, net of distribution expenses, primarily in our Individual Retirement Strategies business due to a reduction in account values resulting from net outflows, partially offset by favorable equity markets.

Largely offsetting these decreases were:

•Higher underwriting results, primarily reflecting the impacts of the reinsurance transactions of certain guaranteed universal life policies in our Individual Life business and improved mortality experience in both our Individual Life and Group Insurance businesses;
•A favorable comparative net impact from our annual reviews and update of assumptions and other refinements, primarily reflecting a net benefit from these updates in the second quarter of 2024 in our Institutional Retirement Strategies business, partially offset by a net charge in our Individual Life business; and
•Higher net investment spread results, primarily reflecting business growth, higher reinvestment rates, and higher income on non-coupon investments, partially offset by the absence of income on assets included in the recent reinsurance transactions in our Individual Life and Institutional Retirement Strategies businesses.

Retirement Strategies
 
Business Updates

•In May 2023, the Company entered into an agreement with The Ohio National Life Insurance Company, now known as AuguStar Life Insurance Company (“AuguStar”), an affiliate of Constellation Insurance Holdings, Inc., to reinsure approximately $10 billion of account values of PDI traditional variable annuity contracts with guaranteed living benefits
74
Table of Contents
issued by Pruco Life Insurance Company (“Pruco Life”), a wholly-owned subsidiary of Prudential Financial. The transaction was completed on June 30, 2023 with an effective date of April 1, 2023. See Note 15 to the Consolidated Financial Statements for additional information.

•In September 2023, the Company entered into an agreement with Prismic Re to reinsure approximately $9 billion of reserves for certain structured settlement annuity contracts issued by PICA, a wholly-owned subsidiary of Prudential Financial, effective September 2023. These contracts represent approximately 70% of the Company’s in-force structured settlement annuities business. See Note 15 to the Consolidated Financial Statements for additional information.

Operating Results
 
The following table sets forth Retirement Strategies’ operating results for the periods indicated:
 
Year Ended December 31,
 202420232022
 (in millions)
Operating results:(1)
Revenues:
Institutional Retirement Strategies$28,195 $11,030 $19,116 
Individual Retirement Strategies5,125 4,532 5,470 
Total revenues33,320 15,562 24,586 
Benefits and expenses:
Institutional Retirement Strategies26,339 9,335 17,569 
Individual Retirement Strategies3,362 2,714 2,488 
Total benefits and expenses29,701 12,049 20,057 
Adjusted operating income:
Institutional Retirement Strategies1,856 1,695 1,547 
Individual Retirement Strategies1,763 1,818 2,982 
Total adjusted operating income3,619 3,513 4,529 
Realized investment gains (losses), net, and related charges and adjustments(2)
(594)(1,665)(2,546)
Change in value of market risk benefits, net of related hedging gains (losses)
(414)42 (469)
Equity in earnings of joint ventures and other operating entities and earnings attributable to noncontrolling interests
1 0 2 
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
$2,612 $1,890 $1,516 
__________
(1)The amount for 2023 reflects the correction of an error related to indexed variable and fixed annuity products within the Individual Retirement Strategies business. See “—Overview” above for additional information.
(2)Prior period amounts have been updated to conform to current period presentation.

Adjusted Operating Income
 
2024 to 2023 Annual Comparison. Adjusted operating income from our Institutional Retirement Strategies business increased $161 million, including a favorable comparative net impact from our annual reviews and update of assumptions and other refinements. Results for 2024 and 2023 included net benefits from this update of $132 million and $6 million, respectively. Excluding this item, adjusted operating income increased $35 million, driven by higher net investment spread results, primarily reflecting business growth and higher income on non-coupon investments, partially offset by the absence of income on assets related to the reinsurance of certain structured settlement annuity contracts in the prior year, as discussed above. This increase was partially offset by higher operating expenses and less favorable reserve experience.

Adjusted operating income from our Individual Retirement Strategies business decreased $55 million, including a favorable comparative net impact from our annual reviews and update of assumptions and other refinements. Results for 2024 included a net benefit of $8 million while the results for 2023 had no net impact from our annual reviews and update of assumptions. Excluding this item, adjusted operating income decreased $63 million primarily driven by lower fee income, net of distribution expenses, and higher amortization costs. The decrease in fee income, net of distribution expenses, resulted from lower average separate account values due to net outflows, partially offset by favorable equity markets. These decreases were
75
Table of Contents
partially offset by higher net investment spread results due to the growth in indexed variable annuities and higher reinvestment rates.

Our Individual Retirement Strategies business includes both fixed and variable annuities which may include optional guaranteed living benefit riders (e.g., GMIB, GMAB, GMWB and GMIWB), and/or optional death benefit riders (e.g., GMDB). We also offer fixed annuities that provide a guarantee of principal and interest credited at rates we determine (subject to certain contractual minimums) or at rates based upon the performance of an index (subject to caps or participation rates), as well as indexed variable annuities that provide several index crediting strategies and varying levels of downside protection at predetermined levels and durations. The drivers of our business results are generally included in adjusted operating income, with exceptions related to certain guarantees, as discussed below.

Under U.S. GAAP, our guaranteed living and death benefit riders on variable annuities (e.g., GMAB, GMIB, GMWB, GMIWB and GMDB) are accounted for as MRBs and reported at fair value. For purposes of measuring segment performance, adjusted operating income excludes the changes in fair value of MRBs and instead reflects the performance of these riders in net income, net of related hedges, in “Change in value of market risk benefits, net of related hedging gains (losses),” except for the portion of the change attributable to changes in the Company’s NPR which is recorded in OCI. Effective April 2023, the Company entered into an agreement with AuguStar to reinsure approximately $10 billion of account values of PDI traditional variable annuity contracts with guaranteed living benefits. For additional information regarding our external reinsurance agreements, see “Business—Reinsurance” and Note 15 to the Consolidated Financial Statements.

Under U.S. GAAP, policyholder liabilities associated with our fixed and variable indexed annuity products are recorded in “Policyholders’ account balances,” and include both the contract value that has accrued to the benefit of the policyholder and the fair value of embedded derivative instruments associated with the index-linked features for these products. The change in the liability for these products is measured utilizing a valuation methodology required under U.S GAAP, and includes the fair value of all index credits for the current term and future projected renewals of the policy. For the purpose of measuring segment performance, however, adjusted operating income reflects only the change in the liability associated with the current term elected by the policyholder and excludes the change in the liability associated with all future projected renewals.

Revenues, Benefits and Expenses
 
2024 to 2023 Annual Comparison. Revenues from our Institutional Retirement Strategies business increased $17,165 million. Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, revenues increased $17,465 million. This increase primarily reflected higher pension risk transfer premiums due to significant sales in the current year, and the impact of the reinsurance of certain structured settlement annuity contracts in the prior year, with corresponding offsets in policyholders’ benefits, as discussed below.

Benefits and expenses of our Institutional Retirement Strategies business increased $17,004 million. Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, benefits and expenses increased $17,430 million. Policyholders’ benefits, including changes in reserves, increased primarily related to the higher pension risk transfer premiums and the impact of the reinsurance of certain structured settlement annuity contracts, as discussed above.

Revenues from our Individual Retirement Strategies business increased $593 million. Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, revenues increased $601 million primarily driven by higher net investment income due to growth in indexed variable annuities and higher reinvestment rates.

Benefits and expenses of our Individual Retirement Strategies business increased $648 million. Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, benefits and expenses increased $664 million primarily driven by higher interest credited to policyholders’ account balances and higher general and administrative expenses, net of capitalization.

Account Values
 
Institutional Retirement Strategies. Account values are a significant driver of our operating results and are primarily driven by net additions (withdrawals) and the impact of market changes. The investment income and interest we credit to policyholders on our spread-based products varies with the level of general account values. The income we earn on most of our fee-based products varies with the level of fee-based account values as many policy fees are determined by these values.

The following table shows the changes in the account values of Institutional Retirement Strategies’ products for the periods indicated. Account values include both internally- and externally-managed client balances as the total balances drive
76
Table of Contents
revenue for the Institutional Retirement Strategies business. For additional information regarding internally-managed balances, see “—PGIM.”

Year Ended December 31,
 202420232022
 (in millions)
Total Institutional Retirement Strategies:
Beginning total account value(1)
$267,654 $251,818 $245,720 
Additions(2)
36,331 28,498 31,773 
Withdrawals and benefits(25,327)(25,283)(16,398)
Change in market value, interest credited and interest income10,590 7,722 (4,110)
Other(3)
(1,046)4,899 (5,167)
Ending total account value, gross
288,202 267,654 251,818 
Reinsurance ceded
(9,011)(9,237)0 
Ending total account value, net$279,191 $258,417 $251,818 
__________
(1)Beginning total account values, net of reinsurance ceded, were $258,417 million, $251,818 million and $245,720 million for the years ended December 31, 2024, 2023 and 2022, respectively.
(2)Additions primarily include: group annuities and funded pension reinsurance calculated based on premiums received; international longevity reinsurance contracts calculated as the present value of future projected benefits; investment-only stable value contracts calculated as the fair value of customers’ funds held in a client-owned trust; and funding agreements issued calculated based on premiums received.
(3)“Other” activity includes the effect of foreign exchange rate changes associated with our British pounds sterling denominated international reinsurance business and changes in asset balances for externally-managed accounts. For the years ended December 31, 2024, 2023 and 2022, “Other” activity also includes $3,148 million in receipts offset by $3,231 million in payments, $3,557 million in receipts offset by $3,533 million in payments, and $3,800 million in receipts offset by $3,516 million in payments, respectively, related to funding agreements backed by commercial paper that typically have maturities of less than 90 days.

2024 to 2023 Annual Comparison. The increase in Institutional Retirement Strategies net account values reflects net additions primarily driven by significant pension risk transfer transactions, including funded pension risk transfer and international reinsurance sales, investment-only stable value account deposits, interest credited on customer funds, and an increase in the market value of the assets, partially offset by the negative impact of foreign exchange rate changes.

Individual Retirement Strategies. Account values are a significant driver of our operating results. Since most fees are determined by the level of separate account assets, fee income varies primarily based on the level of account values. Account values are driven by net flows from new business sales, surrenders, withdrawals and benefit payments, policy charges and the impact of positive or negative market value changes. The following table sets forth account value information of Individual Retirement Strategies’ products for the periods indicated:

 
Year Ended December 31,
202420232022
 (in millions)
Total Individual Retirement Strategies:
Beginning total account value(1)
$129,708 $120,022 $182,305 
Sales14,067 7,635 6,027 
Full surrenders and death benefits(11,093)(6,766)(6,115)
Sales, net of full surrenders and death benefits2,974 869 (88)
Partial withdrawals and other benefit payments(5,180)(4,531)(4,670)
Net flows(2,206)(3,662)(4,758)
Change in market value, interest credited and other activity(2)
13,308 15,624 (54,809)
Policy charges
(2,171)(2,276)(2,716)
Ending total account value, gross
138,639 129,708 120,022 
Reinsurance ceded
(11,519)(11,797)(817)
Ending total account value, net(3)
$127,120 $117,911 $119,205 
__________
(1)Beginning total account values, net of reinsurance ceded, were $117,911 million, $119,205 million, and $181,828 million for the years ended December 31, 2024, 2023 and 2022, respectively.
(2)Results for the year ended December 31, 2022 reflect the reduction in account values resulting from the sale of PALAC.
77
Table of Contents
(3)Includes net variable and fixed annuities sold as retail investment products. Variable annuity account values were $116,849 million, $111,335 million and $113,941 million as of December 31, 2024, 2023 and 2022, respectively. Fixed annuity account values were $10,271 million, $6,576 million, $5,264 million as of December 31, 2024, 2023 and 2022, respectively.

2024 to 2023 Annual Comparison. The increase in Individual Retirement Strategies net account values reflects market value appreciation, partially offset by net outflows and policy charges on contractholder accounts.

The increase in Individual Retirement Strategies sales, net of full surrenders and death benefits, was primarily driven by higher sales of indexed variable and fixed annuities products, partially offset by higher full surrenders.

Risks and Risk Mitigants

The following is a summary of certain risks associated with Individual Retirement Strategies’ products, certain strategies in mitigating those risks including any updates to those strategies since the previous year-end, and the related financial results.

Fixed Annuity Risks and Risk Mitigants. The primary risk exposure of our fixed annuity products relates to investment risks we bear for providing customers a minimum guaranteed interest rate or an index-linked interest rate required to be credited to the customer’s account value, which include interest rate fluctuations and/or sustained periods of low interest rates, and credit risk related to the underlying investments. We manage these risk exposures primarily through our investment strategies, inclusive of derivatives, and product design features, which include credit rate resetting subject to the minimum guaranteed interest rate as well as surrender charges applied during the early years of the contract that help to provide protection for premature withdrawals. In addition, a portion of our fixed products has a market value adjustment provision that affords protection of lapse in the case of rising interest rates. We also manage these risk exposures through external reinsurance for certain of our fixed annuity products. For additional information regarding our external reinsurance agreements, see “Business—Reinsurance” and Note 15 to the Consolidated Financial Statements.

Indexed Variable Annuity Risks and Risk Mitigants. The primary risk exposure of our indexed variable annuity products relates to the investment risks we bear in order to credit to the customer’s account balance the required crediting rate based on the performance of the elected indices at the end of each term. We manage this risk primarily through our investment strategies, inclusive of derivatives, and product design features, which include credit rate resetting subject to contractual minimums as well as surrender charges applied during the early years of the contract that help to provide protection for premature withdrawals. In addition, our indexed variable annuity strategies have an interim value provision that provides some protection from lapse in the case of rising interest rates.

Variable Annuity Risks and Risk Mitigants. The primary risk exposures of our variable annuity contracts relate to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including capital markets assumptions such as equity market returns, interest rates and market volatility, along with actuarial assumptions such as contractholder mortality, the timing and amount of annuitization and withdrawals, and contract lapses. For these risk exposures, achievement of our expected returns is subject to the risk that actual experience will differ from the assumptions used in the original pricing of these products. We manage our exposure to certain risks driven by fluctuations in capital markets primarily through a combination of i) Product Design Features, and ii) our Asset Liability Management Strategy, as discussed below. We also manage these risk exposures through external reinsurance for certain of our variable annuity products.

Effective April 2023, the Company entered into an agreement with AuguStar to reinsure approximately $10 billion of account values of PDI traditional variable annuity contracts with guaranteed living benefits. For additional information regarding our external reinsurance agreements, see “Business—Reinsurance” and Note 15 to the Consolidated Financial Statements.

i.Product Design Features:

A portion of the variable annuity contracts that we offered include an automatic rebalancing feature, also referred to as an asset transfer feature. This feature is implemented at the contract level, and transfers assets between certain variable investment sub-accounts selected by the annuity contractholder and, depending on the benefit feature, a fixed-rate account in the general account or a bond fund sub-account within the separate accounts. The objective of the automatic rebalancing feature is to reduce our exposure to equity market risk and market volatility. Other product design features we utilize include, among others, asset allocation restrictions, minimum issuance age requirements and certain limitations on the amount of purchase payments, as well as a required minimum allocation to our general account for certain of our products. In addition, there is diversity in our fee arrangements, as certain fees are primarily based on the benefit guarantee amount, the contractholder account value and/or premiums, which helps preserve certain revenue streams when market fluctuations cause account values to decline.
78
Table of Contents

ii.Asset Liability Management (“ALM”) Strategy (including fixed income instruments and derivatives):

We employ an ALM strategy that utilizes a combination of both traditional fixed income instruments and derivatives to meet expected liabilities associated with our annuity guarantees that under U.S. GAAP are considered MRBs. The MRB liability that we hedge consists of expected living and death benefit claims under various market conditions, which are managed using fixed income instruments, derivatives, or a combination thereof. For our PDI variable annuity, we utilize fixed income instruments to meet expected liabilities. For the portion of our ALM strategy executed with derivatives, we enter into a range of exchange-traded and OTC equity, interest rate and credit derivatives, including, but not limited to: equity and treasury futures; total return, credit default and interest rate swaps; and options including equity options, swaptions, and floors and caps. The intent of this strategy is to more efficiently manage the capital and liquidity associated with these products while continuing to mitigate fluctuations in net income due to movements in capital markets. To achieve this, we periodically review and recalibrate the ALM strategy by optimizing the mix of derivatives and fixed income instruments to achieve expected outcomes. As part of our periodic review of our variable annuities ALM strategy, and in accordance with our Risk Appetite Framework (“RAF”), the Company simplified its hedging approach in the first quarter of 2023 and collapsed the aggregate amount of equity hedging into one program.

Under our ALM strategy, we expect differences in the U.S. GAAP net income impact between the changes in value of the fixed income instruments (either designated as available-for-sale or designated as trading) and derivatives as compared to the changes in the MRB liability these assets support. These differences can be primarily attributed to two distinct areas:

•Different accounting treatment between liabilities and assets supporting those liabilities. Under U.S. GAAP, changes in the fair value of the derivative instruments and fixed income instruments designated as trading, and MRBs, excluding the changes in the Company’s NPR spreads, are immediately reflected in net income, while changes in the fair value of fixed income instruments that are designated as available-for-sale are recorded as unrealized gains (losses) in other comprehensive income.

•General hedge results. For the derivative portion of the ALM strategy, the net hedging impact (the extent to which the changes in value of the hedging instruments offset the change in value of the portion of the MRBs we are hedging) may be impacted by a number of factors, including: cash flow timing differences between our hedging instruments and the corresponding portion of the MRBs we are hedging, basis differences attributable to actual underlying contractholder funds to be hedged versus hedgeable indices, rebalancing costs related to dynamic rebalancing of hedging instruments as markets move, certain elements of the MRBs that may not be hedged (including certain actuarial assumptions), and implied and realized market volatility on the hedge positions relative to the portion of the MRBs we seek to hedge.

Product Specific Risks and Risk Mitigants

For certain living benefit guarantees, claims will primarily represent the funding of contractholder lifetime withdrawals after the cumulative withdrawals have first exhausted the contractholder account value. Due to the age of the in-force block, limited claim payments have occurred to date, and they are not expected to increase significantly within the next five years, based upon current assumptions. The timing and amount of future claims will depend on actual returns on contractholder account value and actual contractholder behavior relative to our assumptions. The majority of our current living benefit guarantees provide for guaranteed lifetime contractholder withdrawal payments inclusive of a “highest daily” contract value guarantee. Our PDI variable annuity complements our variable annuity products with the highest daily benefit and provides for guaranteed lifetime contractholder withdrawal payments but restricts contractholder asset allocation to a single bond fund sub-account within the separate accounts.

The majority of our traditional variable annuity contracts with living benefit guarantees, and contracts with our highest daily living benefit features, include risk mitigants in the form of an automatic rebalancing feature and/or inclusion in our ALM strategy. We may also utilize external reinsurance as a form of additional risk mitigation. The risks associated with the guaranteed benefits of certain legacy products that were sold prior to our development of the automatic rebalancing feature are also managed through our ALM strategy. Certain legacy products with GMAB rider options include the automatic rebalancing feature but are not included in the ALM strategy. Effective April 2023, the Company entered into an agreement with AuguStar to reinsure approximately $10 billion of account values of PDI traditional variable annuity contracts with guaranteed living benefits. For additional information regarding our external reinsurance agreements, see “Business—Reinsurance” and Note 15 to the Consolidated Financial Statements.

For our GMDBs, we provide a benefit payable in the event of death. Our base GMDB is generally equal to a return of cumulative deposits adjusted for any partial withdrawals. Certain products include an optional enhanced GMDB based on the
79
Table of Contents
greater of a minimum return on the contract value or an enhanced value. We have retained the risk that the total amount of death benefit payable may be greater than the contractholder account value; however, a substantial portion of the account values associated with GMDBs are subject to an automatic rebalancing feature because the contractholder also selected a living benefit guarantee which includes an automatic rebalancing feature. All of the variable annuity account values with living benefit guarantees also contain GMDBs. The living and death benefit features for these contracts cover the same insured life and, consequently, we have insured both the longevity and mortality risk on these contracts.

The following table sets forth the risk management profile of our living benefit guarantees and GMDB features as of the periods indicated:

 December 31,
202420232022
Account Value% of Total
Account Value
% of Total
Account Value
% of Total
 
($ in millions)
Living benefit/GMDB features(1):
Both ALM strategy and automatic rebalancing(2)(3)
$64,856 52 %$70,013 58 %$69,282 61 %
ALM strategy only(3)
1,782 1 %1,933 2 %1,972 2 %
Automatic rebalancing only77 0 %80 0 %83 0 %
External reinsurance(4)
10,665 9 %12,418 10 %2,482 2 %
PDI1,342 1 %1,536 1 %11,988 11 %
Other products1,553 1 %1,585 1 %1,561 1 %
Total living benefit/GMDB features80,275 87,565 87,368 
GMDB features and other(5)
45,338 36 %33,873 28 %26,573 23 %
Total variable annuity account value$125,613 $121,438 $113,941 
__________
(1)    All contracts with living benefit guarantees also contain GMDB features, which cover the same insured contract.
(2)    Contracts with living benefits that are included in our ALM strategy and that have an automatic rebalancing feature.
(3)    Excludes retained PDI which is presented separately within this table.
(4)    Represents contracts subject to reinsurance transactions with external counterparties. Includes approximately $9 billion of account values in relation to the PDI reinsurance transaction, as discussed above, and certain Highest Daily Lifetime Income (“HDI”) v.3.0 business for the period April 1, 2015 through December 31, 2016. The HDI contracts with living benefits also have an automatic rebalancing feature. See Note 15 to the Consolidated Financial Statements for additional information.
(5)    Includes contracts that have a GMDB feature and do not have an automatic rebalancing feature.

Results excluded from adjusted operating income

The following table provides the net impact to the Consolidated Statements of Operations from the portion of Retirement Strategies’ results excluded from adjusted operating income:
Year Ended December 31,
202420232022
(in millions)(1)
Results excluded from adjusted operating income:
Change in MRBs, excluding changes in the NPR adjustment(2)$2,735 $2,499 $4,631 
Change in the value of the non-MRB liabilities, excluding changes in the NPR adjustment(3)(4)
1,087 (118)(357)
Change in the NPR adjustment, excluding changes recognized in OCI(128)(18)32 
Change in the fair value of hedge assets(5)(6)
(3,165)(2,812)(4,482)
Other(7)
(339)(244)(1,130)
Total Individual Retirement Strategies results excluded from adjusted operating income190 (693)(1,306)
Total Institutional Retirement Strategies results excluded from adjusted operating income(1,197)(930)(1,707)
Total results excluded from adjusted operating income
$(1,007)$(1,623)$(3,013)
80
Table of Contents
__________
(1)Positive amounts represent income; negative amounts represent a loss.
(2)Also excludes related hedging gains (losses), which are included within this table in “Change in the fair value of hedge assets.”
(3)The amount for 2023 reflects the correction of an error related to indexed variable and fixed annuity products within the Individual Retirement Strategies business. See “—Overview” above for additional information.
(4)Represents the change in the liability for our fixed and variable indexed annuities, including the fair value of embedded derivative instruments associated with those products, which is measured utilizing a valuation methodology required under U.S. GAAP. The total GAAP liability includes the fair value of all index credits for the current term and all future projected renewals of the policy; however, only changes in the liability associated with the current term elected by the policyholder are included in adjusted operating income, while changes in the liability associated with all future projected renewals of the policy are excluded from adjusted operating income.
(5)Represents the change in fair value of the derivatives utilized to hedge potential claims associated with our variable annuity living and death benefit guarantees.
(6)Results for the years ended 2023 and 2022 include changes in the fair value of equity derivatives related to the capital hedge program of $(225) million and $598 million that were intended to protect a portion of the overall capital position of the variable annuities business against its exposure to the equity markets. The capital hedge program was discontinued in the first quarter of 2023.
(7)Includes the changes in duration swaps, DAC amortization, trading gains or losses, and other activity.

For 2024, the loss of $1,007 million was primarily driven by realized losses from asset sales and the impact of higher interest rates on derivatives within Institutional Retirement Strategies.


Group Insurance
 
Operating Results
 
The following table sets forth Group Insurance’s operating results and benefits and administrative operating expense ratios for the periods indicated:
 
Year Ended December 31,
 202420232022
 
($ in millions)
Operating results:
Revenues$6,427 $6,285 $6,115 
Benefits and expenses6,113 5,966 6,131 
Adjusted operating income314 319 (16)
Realized investment gains (losses), net, and related charges and adjustments
(51)(46)(137)
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
$263 $273 $(153)
Benefits ratios(1)(4):
Group life(2)86.9 %87.0 %93.3 %
Group disability(2)71.8 %70.2 %73.9 %
 Total Group Insurance(2)
82.7 %82.5 %88.5 %
Administrative operating expense ratios(3)(4):
Group life11.6 %11.7 %10.8 %
Group disability26.6 %25.2 %31.3 %
Total Group Insurance
15.7 %15.2 %15.8 %
__________
(1)Ratio of policyholder benefits to earned premiums plus policy charges and fee income.
(2)Benefits ratios reflect the impacts of our annual reviews and update of assumptions and other refinements. Excluding these impacts, the group life, group disability and total Group Insurance benefits ratios were 86.9%, 73.3% and 83.1% for 2024, respectively, 87.6%, 71.1% and 83.2% for 2023, respectively, and 93.4%, 73.3% and 88.4% for 2022, respectively.
(3)Ratio of general and administrative expenses (excluding commissions) to gross premiums plus policy charges and fee income.
(4)The benefits and administrative ratios are measures used to evaluate profitability and efficiency.

Adjusted Operating Income
 
2024 to 2023 Annual Comparison. Adjusted operating income decreased $5 million, including a less favorable comparative net impact from our annual reviews and update of assumptions and other refinements. Results for 2024 and 2023 included net benefits from this update of $25 million and $36 million, respectively. Excluding this item, adjusted operating income increased $6 million, primarily reflecting higher underwriting results in our group life business driven by more
81
Table of Contents
favorable mortality experience, and higher net investment spread results driven by higher reinvestment rates. These increases were partially offset by higher operating and variable expenses, largely supporting business growth.

Revenues, Benefits and Expenses
 
2024 to 2023 Annual Comparison. Revenues increased $142 million. Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, revenues increased $145 million. The increase primarily reflected higher premiums, driven by business growth in our group disability business, including supplemental health products, and higher net investment income driven by higher reinvestment rates.

Benefits and expenses increased $147 million. Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, benefits and expenses increased $139 million. The increase primarily reflected higher policyholders’ benefits, driven by less favorable claims experience on long-term disability contracts, as well as higher general and administrative expenses, largely supporting business growth.

Sales Results
 
The following table sets forth Group Insurance’s annualized new business premiums, as defined under “—Segment Measures” above, for the periods indicated:
 
Year Ended December 31,
 202420232022
 (in millions)
Annualized new business premiums(1):
Group life$289 $296 $283 
Group disability261 235 196 
Total$550 $531 $479 
__________
(1)Amounts exclude new premiums resulting from rate changes on existing policies, from additional coverage under our Servicemembers’ Group Life Insurance contract and from excess premiums on group universal life insurance that build cash value but do not purchase face amounts.

2024 to 2023 Annual Comparison. Total annualized new business premiums increased $19 million, primarily driven by higher sales in both the National Market segment, including an increase in supplemental health product sales, and in the Association Market segment in our group disability business. This increase was partially offset by lower sales in the Premier Market segment in both our group disability and group life businesses, reflecting the absence of outsized sales in the prior year.

Individual Life
 
Business Updates

We entered into the following two external reinsurance agreements that reduced, in aggregate, the Company’s previously established statutory reserves on its in-force guaranteed universal life block of business by approximately 60%:

•In July 2023, the Company entered into an agreement with Somerset Re to reinsure certain guaranteed universal life policies issued by Pruco Life and Pruco Life Insurance Company of New Jersey (“PLNJ”), both of which are wholly-owned subsidiaries of Prudential Financial. These policies represented approximately 30% of the Company’s statutory reserves on its in-force guaranteed universal life block of business. The transaction was completed in March 2024 with an effective date of January 1, 2024. See Note 15 to the Consolidated Financial Statements for additional information.

•In August 2024, the Company entered into an agreement with Wilton Re to reinsure certain guaranteed universal life policies issued by Pruco Life and PLNJ. These policies represented approximately 40% of the Company’s remaining statutory reserves on its in-force guaranteed universal life block of business, following the close of the reinsurance transaction with Somerset Re, as discussed above. The transaction is structured on a coinsurance basis and contains significant structural protections, including overcollateralization by the counterparty and agreed upon investment guidelines. The transaction was completed in December 2024 with an effective date of October 1, 2024. See Note 15 to the Consolidated Financial Statements for additional information.
82
Table of Contents

Operating Results
 
The following table sets forth Individual Life’s operating results for the periods indicated:
 
 Year Ended December 31,
 202420232022
 (in millions)
Operating results:
Revenues$6,195 $6,274 $5,786 
Benefits and expenses6,400 6,369 7,588 
Adjusted operating income(205)(95)(1,802)
Realized investment gains (losses), net, and related charges and adjustments(1)
(744)(312)(1,505)
Market experience updates
(143)154 439 
Equity in earnings of joint ventures and other operating entities and earnings attributable to noncontrolling interests
1 0 0 
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
$(1,091)$(253)$(2,868)
__________
(1)Prior period amounts have been updated to conform to current period presentation.

Adjusted Operating Income
 
2024 to 2023 Annual Comparison. Adjusted operating income decreased $110 million, including an unfavorable net impact from our annual reviews and update of assumptions and other refinements. Results for 2024 and 2023 included net charges from this update of $98 million and $26 million, respectively. Excluding this item, adjusted operating income decreased $38 million, primarily driven by higher expenses, including costs associated with the reinsurance transactions discussed above as well as from the consolidation of our internal captive reinsurance arrangements. See “Liquidity and Capital Resources—Overview” for additional information regarding this consolidation. This decrease was partially offset by the ongoing favorable impacts from these reinsurance transactions and less unfavorable mortality experience.

Revenues, Benefits and Expenses
 
2024 to 2023 Annual Comparison. Revenues decreased $79 million. Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, revenues decreased $78 million, primarily driven by lower investment results reflecting the absence of income on assets related to the reinsurance transactions discussed above, partially offset by higher net investment income reflecting higher reinvestment rates and higher income on non-coupon investments, as well as higher policy charges and fee income due to business growth.

Benefits and expenses increased $31 million. Excluding the impact of our annual reviews and update of assumptions and other refinements, as discussed above, benefits and expenses decreased $40 million. This decrease was primarily driven by lower policyholders’ benefits, including changes in reserves, and lower interest credited on policyholders’ account balances as a result of the reinsurance transactions discussed above, as well as favorable changes in estimates of the liability for future policy benefits. These decreases were partially offset by higher interest expense due to higher reserve financing costs corresponding to higher net investment income, as discussed above, and higher general and administrative expenses associated with these reinsurance transactions and the consolidation of our internal captive reinsurance arrangements, as well as the absence of a reduction in legal reserves in the prior year.

Sales Results
 
The following table sets forth Individual Life’s annualized new business premiums, as defined under “—Results of Operations—Segment Measures” above, by distribution channel and product, for the periods indicated:
 
83
Table of Contents
 202420232022
 Prudential
Advisors		Third
Party		TotalPrudential
Advisors		Third
Party		TotalPrudential
Advisors		Third
Party		Total
 (in millions)
Variable Life$145 $542 $687 $120 $416 $536 $109 $315 $424 
Term Life18 116 134 20 100 120 18 75 93 
Universal Life
4 81 85 4 77 81 6 86 92 
Total$167 $739 $906 $144 $593 $737 $133 $476 $609 

2024 to 2023 Annual Comparison. Total annualized new business premiums increased $169 million, reflecting higher third-party sales across all products and higher Prudential Advisors variable life sales.

International Businesses

Business Updates

•In March 2024, the Company entered into a definitive agreement with Grupo ST S.A. to sell POA. Effective in the first quarter of 2024, the results of POA and the impact of its sale were reflected in the Divested and Run-off Businesses that are included within our Corporate and Other operations. The transaction, which did not have a material impact on the Company’s results, was completed in May 2024.

•In December 2024, the Company entered into an agreement with Prismic Life Reinsurance International, Ltd., a wholly-owned subsidiary of Prismic, to reinsure approximately $7 billion of reserves for certain USD-denominated Japanese whole life policies originated by the Company’s Japanese affiliates. The transaction is subject to regulatory approvals and customary closing conditions.

Operating Results
 
The results of our International Businesses’ operations are translated on the basis of weighted average monthly exchange rates, inclusive of the effects of the intercompany arrangement discussed in “—Results of Operations—Impact of Foreign Currency Exchange Rates” above. To provide a better understanding of operating performance within the International Businesses, where indicated below, we have analyzed our results of operations excluding the effect of the year over year change in foreign currency exchange rates. Our results of operations, excluding the effect of foreign currency fluctuations, were derived by translating foreign currencies to USD at uniform exchange rates for all periods presented, including for constant dollar information discussed below. For our Japan operations, we used an exchange rate of 129 yen per USD. In addition, for constant dollar information discussed below, activity denominated in USD is generally reported based on the amounts as transacted in USD. Annualized new business premiums presented on a constant exchange rate basis in the “Sales Results” section below reflect translation based on these same uniform exchange rates.
 
84
Table of Contents
The following table sets forth the International Businesses’ operating results for the periods indicated:
 
 
Year Ended December 31,
 202420232022
 (in millions)
Operating results:
Revenues:
Life Planner $9,352 $9,596 $9,541 
Gibraltar Life and Other 8,573 9,086 9,470 
Total revenues17,925 18,682 19,011 
Benefits and expenses:
Life Planner7,482 7,596 7,597 
Gibraltar Life and Other 7,337 7,903 8,209 
Total benefits and expenses14,819 15,499 15,806 
Adjusted operating income:
Life Planner 1,870 2,000 1,944 
Gibraltar Life and Other 1,236 1,183 1,261 
Total adjusted operating income3,106 3,183 3,205 
Realized investment gains (losses), net, and related charges and adjustments(1)
(911)93 (2,094)
Change in value of market risk benefits, net of related hedging gains (losses)171426 
Market experience updates89 (46)196 
Equity in earnings of joint ventures and other operating entities and earnings attributable to noncontrolling interests
(116)(76)13 
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
$2,185 $3,168 $1,346 
__________
(1)Prior period amounts have been updated to conform to current period presentation.

Adjusted Operating Income
 
2024 to 2023 Annual Comparison. Adjusted operating income from our Life Planner operations decreased $130 million, including a net unfavorable impact of $41 million from currency fluctuations. Both periods also included the impact of our annual reviews and update of assumptions and other refinements, which resulted in a $56 million net charge in 2024 compared to a $5 million net charge in 2023.

Excluding the impact of currency fluctuations, as well as the impact from our annual reviews and update of assumptions and other refinements as discussed above, adjusted operating income from our Life Planner operations decreased $38 million. This decrease primarily reflects lower underwriting results due to the decline of business in force in Japan, partially offset by the growth of business in force in Brazil. Also contributing to the decrease were higher expenses, including higher variable expenses driven by business growth in Brazil. These decreases were partially offset by higher net investment spread results driven by higher reinvestment rates.

Adjusted operating income from our Gibraltar Life and Other operations increased $53 million, including a net favorable impact of $27 million from currency fluctuations. Both periods also included the impact of our annual reviews and update of assumptions and other refinements, which resulted in a $1 million net benefit in 2024 compared to a $18 million net benefit in 2023.

Excluding the impact of currency fluctuations, as well as the impact from our annual reviews and update of assumptions and other refinements as discussed above, adjusted operating income from our Gibraltar Life and Other operations increased $43 million. This increase primarily reflects higher net investment spread results, driven by higher income on non-coupon investments, higher earnings from joint ventures and other operating entities, and lower operating expenses. These impacts were partially offset by lower underwriting results, driven by the decline of business in force in Japan.

Revenues, Benefits and Expenses
 
85
Table of Contents
2024 to 2023 Annual Comparison. Revenues from our Life Planner operations decreased $244 million, including a net unfavorable impact of $295 million from currency fluctuations and a net benefit of $74 million from our annual reviews and update of assumptions and other refinements. Excluding these items, revenues decreased $23 million, primarily reflecting lower premiums attributable to the decline of business in force in Japan, partially offset by the growth of business in force in Brazil, and lower investment gains from less favorable derivative settlements. These decreases were partially offset by higher net investment income driven by higher reinvestment rates and higher policy charges and fee income reflecting growth in both variable and investment products in Japan.

Benefits and expenses from our Life Planner operations decreased $114 million, including a net favorable impact of $254 million from currency fluctuations and a net charge of $125 million from our annual reviews and update of assumptions and other refinements. Excluding these items, benefits and expenses increased $15 million, primarily reflecting higher interest credited on policyholders’ account balances, reflecting growth in both variable and investment products in Japan, and higher general and administrative expenses driven by business growth in Brazil. These increases were partially offset by lower policyholders’ benefits, including changes in reserves, due to the decline of business in force in Japan, as discussed above, as well as favorable changes in estimates of the liability for future policy benefits.

Revenues from our Gibraltar Life and Other operations decreased $513 million, including a net unfavorable impact of $198 million from currency fluctuations and a net charge of $82 million from our annual reviews and update of assumptions and other refinements. Excluding these items, revenues decreased $233 million, primarily reflecting lower premiums attributable to the decline of business in force and the impact of ceded reinsurance, which is mostly offset in policyholders’ benefits below, as well as higher investment losses from unfavorable derivative settlements. These decreases were partially offset by higher net investment income from higher income on non-coupon investments, portfolio growth and higher reinvestment rates, as well as higher earnings from joint ventures and other operating entities.

Benefits and expenses from our Gibraltar Life and Other operations decreased $566 million, including a net favorable impact of $225 million from currency fluctuations and a net benefit of $65 million from our annual reviews and update of assumptions and other refinements. Excluding these items, benefits and expenses decreased $276 million, primarily reflecting lower policyholders’ benefits, including changes in reserves, due to the decline of business in force and the impact of ceded reinsurance, as discussed above, as well as favorable changes in estimates of the liability for future policy benefits, and lower general and administrative expenses. These decreases were partially offset by higher interest credited on policyholders’ account balances, reflecting growth in investment products.

Sales Results
 
The following table sets forth annualized new business premiums, as defined under “—Results of Operations—Segment Measures” above, on an actual and constant exchange rate basis for the periods indicated:
 
 Year Ended December 31,
 202420232022
 (in millions)
Annualized new business premiums:
On an actual exchange rate basis:
Life Planner $1,067 $1,069 $941 
Gibraltar Life and Other1,055 1,018 878 
Total$2,122 $2,087 $1,819 
On a constant exchange rate basis:
Life Planner $1,089 $1,019 $893 
Gibraltar Life and Other1,082 1,030 880 
Total$2,171 $2,049 $1,773 

The amount of annualized new business premiums and the sales mix in terms of types and currency denomination of products for any given period can be significantly impacted by several factors, including but not limited to: the addition of new products, discontinuation of existing products, changes in credited interest rates for certain products and other product modifications, changes in premium rates, changes in interest rates or fluctuations in currency markets, changes in tax laws, changes in life insurance regulations or changes in the competitive environment. Sales volume may increase or decrease prior to certain of these changes becoming effective, and then fluctuate in the other direction following such changes.
86
Table of Contents

Our diverse product portfolio in Japan, in terms of currency mix and premium payment structure, allows us to adapt to changing market and competitive dynamics, including the low interest rate environment. We regularly examine our product offerings and their related profitability and reprice or discontinue sales of certain products that do not meet our profit expectations. The impact of these actions, coupled with the introduction of certain new products, has generally resulted in higher sales of products denominated in USD relative to products denominated in other currencies; however, more recently we have experienced an increase in sales of our new yen-denominated life insurance and retirement product offerings as a result of growing demand for yen-denominated products.

2024 to 2023 Annual Comparison. The table below presents annualized new business premiums on a constant exchange rate basis, by product category and distribution channel, for the periods indicated:
 
 Year Ended December 31, 2024Year Ended December 31, 2023
 LifeAccident
&
Health		Retirement
(1)		Investment
 Contracts
(2)		TotalLifeAccident
&
Health		Retirement
(1)		Investment
 Contracts
(2)		Total
 (in millions)
Life Planner$545 $87 $286 $171 $1,089 $509 $78 $252 $180 $1,019 
Gibraltar Life and Other:
Life Consultants106 18 70 302 496 131 21 24 372 548 
Banks
15 0 1 293 309 30 02 224 256 
Independent Agency31 13 88 145 277 55 29 86 56 226 
Subtotal152 31 159 740 1,082 216 50 112 652 1,030 
Total$697 $118 $445 $911 $2,171 $725 $128 $364 $832 $2,049 
__________
(1)Includes retirement income, endowment and savings variable life.
(2)Includes single-payment market value adjusted investment contracts, single-payment whole life products and recurring-payment annuity products.

Annualized new business premiums, on a constant exchange rate basis, from our Life Planner operations increased $70 million, primarily driven by higher life product sales in Brazil. Sales in Japan also contributed to the increase, primarily driven by higher retirement product sales, partially offset by lower investment contract sales.

Annualized new business premiums, on a constant exchange rate basis, from our Gibraltar Life and Other operations increased $52 million. Bank and Independent Agency channel sales increased $53 million and $51 million, respectively, reflecting higher investment contract sales, partially offset by lower life product sales. Independent Agency sales also reflect lower accident and health product sales. Life Consultant sales decreased $52 million, reflecting lower investment contract and life product sales, partially offset by higher retirement product sales.

Sales Force
 
The following table sets forth the number of Life Planners and Life Consultants for the periods indicated:
 
 Year Ended December 31,
 202420232022
Life Planners:
Japan4,309 4,310 4,446 
All other countries1,726 1,546 1,478 
Gibraltar Life Consultants6,844 6,808 6,821 
Total12,879 12,664 12,745 

2024 to 2023 Comparison. The number of Life Planners increased by 179, primarily driven by an increase in Brazil reflecting business growth, partially offset by a decrease in Argentina due to the sale of POA. The number of Gibraltar Life Consultants increased by 36, reflecting favorable recruitment and lower resignations.



87
Table of Contents
Corporate and Other

Business Updates

•In March 2024, the Company committed to a plan to exit the operations of AIQ; therefore, beginning with the first quarter of 2024, AIQ is classified as a divested business within our Corporate and Other operations. AIQ’s results are excluded from adjusted operating income and historical results have been updated to conform to current period presentation.

•In September 2023, the Company acquired a 20% interest as a limited partner in Prismic, a Bermuda-exempted limited partnership that owns all the outstanding capital stock of Prismic Re. Beginning with the fourth quarter of 2023, the operating results of Corporate and Other reflect the Company’s share of earnings in Prismic on a quarter lag.

Operating Results

Corporate and Other includes corporate operations, after allocations to our business segments, and Divested and Run-off Businesses other than those that qualify for “discontinued operations” accounting treatment under U.S. GAAP. The following table sets forth Corporate and Other’s operating results for the periods indicated:
 
 
Year Ended December 31,
 202420232022
 (in millions)
Operating results:
Investment income$202 $161 $177 
Interest expense on debt(849)(829)(829)
Pension and employee benefits366 345 387 
Other corporate activities(1)
(1,502)(1,711)(1,296)
Adjusted operating income(1)
(1,783)(2,034)(1,561)
Realized investment gains (losses), net, and related charges and adjustments(1)
150 (580)(35)
Market experience updates2 2 7 
Divested and Run-off Businesses(1)(2)
30 21 (887)
Equity in earnings of joint ventures and other operating entities and earnings attributable to noncontrolling interests
(34)(8)(47)
Other adjustments(1)
0 0 (1)
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
$(1,635)$(2,599)$(2,524)
__________
(1)Effective first quarter of 2024, the results of AIQ are excluded from Corporate and Other’s adjusted operating results and are included in Divested and Run-off Businesses. Prior period amounts have been updated to conform to current period presentation.
(2)Includes goodwill impairments of $177 million and $903 million recorded in the fourth quarters of 2023 and 2022, respectively, related to AIQ. See Note 2 and Note 10 to the Consolidated Financial Statements for additional information regarding goodwill impairments.

2024 to 2023 Annual Comparison. The loss from Corporate and Other operations, on an adjusted operating income basis, decreased $251 million. Net charges from other corporate activities decreased by $209 million, primarily reflecting lower costs related to corporate initiatives, including the absence of a restructuring charge recorded in the prior year, and a decrease in legal reserves, partially offset by higher net expenses and other corporate charges. Pension and employee benefits results were favorable by $21 million, primarily reflecting a change in the postretirement retiree medical plan.

For purposes of calculating pension income from our qualified pension plan for the year ended December 31, 2025, we increased the discount rate from 5.30% to 5.85% as of December 31, 2024. The expected rate of return on plan assets increased from 7.50% in 2024 to 8.00% in 2025. The assumed rate of increase in compensation will remain unchanged at 6.25% in 2025. Giving effect to the foregoing changes and other factors, we expect income from our qualified pension plan in 2025 to be approximately $25 million to $30 million higher than 2024 levels. This increase is primarily driven by the higher discount rate.
 
88
Table of Contents
For purposes of calculating postretirement income for the year ended December 31, 2025, we increased the discount rate from 5.20% to 5.70% as of December 31, 2024. The expected rate of return on plan assets decreased from 6.75% in 2024 to 6.50% in 2025. Giving effect to the foregoing changes and other factors, we expect postretirement income in 2025 to be approximately $10 million to $15 million lower than 2024 levels. This decrease is primarily driven by increased medical experience.

In 2025, pension and other postretirement benefit service costs related to active employees will continue to be allocated to our business segments. For further information regarding our pension and postretirement plans, see Note 19 to the Consolidated Financial Statements.

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:

 
Year Ended December 31,
 202420232022
 (in millions)
Long-Term Care$413 $217 $(316)
Other(1)
(383)(196)(571)
Total Divested and Run-off Businesses income (loss) excluded from adjusted operating income$30 $21 $(887)
__________
(1)Effective first quarter of 2024, the results of AIQ are excluded from Corporate and Other’s adjusted operating results and are included herein. Prior period amounts have been updated to conform to current period presentation. Effective second quarter of 2024, the results of PGIMW are excluded from PGIM’s adjusted operating results and are included herein.

2024 to 2023 Annual Comparison

Long-Term Care. Results increased $196 million, including a favorable comparative net impact from our annual reviews and update of assumptions and other refinements. Results for 2024 included a $111 million net benefit from these updates, while results for 2023 included a $79 million net charge from these updates. Excluding this item, results increased $6 million, primarily reflecting more favorable impacts from changes in the market value of equity securities, largely offset by higher net realized investment losses, primarily from higher losses on sales of fixed income securities.

Other Divested and Run-off Businesses. Results decreased $187 million, primarily reflecting unfavorable results related to the Full Service Retirement business primarily due to the absence of accelerated deferred gain amortization from higher surrenders in the prior year, as well as impairments and charges related to management’s decision to exit PGIMW and its subsequent classification as a divested business in the second quarter of 2024.

Closed Block Division
 
The Closed Block division includes certain in-force traditional domestic participating life insurance and annuity products and assets that are used for the payment of benefits and policyholder dividends on these policies (collectively, the “Closed Block”), as well as certain related assets and liabilities. We no longer offer these traditional domestic participating policies. See Note 16 to the Consolidated Financial Statements for additional information.
 
89
Table of Contents
Each year, the Board of Directors of The Prudential Insurance Company of America (“PICA”) determines the dividends payable on participating policies for the following year based on the experience of the Closed Block, including investment income, net realized and unrealized investment gains (losses), mortality experience and other factors. Although the Closed Block experience for dividend action decisions is based upon statutory results, at the time the Closed Block was established, we developed, as required by U.S. GAAP, an actuarial calculation of the timing of the maximum future earnings from the policies included in the Closed Block. Actual cumulative earnings, as required by U.S. GAAP, reflect the recognition of realized investment gains and losses in the current period, as well as changes in assets and related liabilities that support the Closed Block policies. If actual cumulative earnings in any given period are greater than the cumulative earnings we expected, we record this excess as a policyholder dividend obligation. Additionally, any accumulated net unrealized investment gains that have arisen subsequent to the establishment of the Closed Block are reflected as a policyholder dividend obligation, with a corresponding amount reported in AOCI, while any accumulated net unrealized investment losses are reflected as a reduction of the policyholder dividend obligation, to the extent the overall policyholder dividend obligation is otherwise positive.

We will subsequently pay this excess to Closed Block policyholders as an additional dividend unless it is otherwise offset by future Closed Block performance that is less favorable than we originally expected. The policyholder dividends we charge to expense within the Closed Block division will include any change in our policyholder dividend obligation that we recognize for the excess of actual cumulative earnings in any given period over the cumulative earnings we expected in addition to the actual policyholder dividends declared by the Board of Directors of PICA. If actual cumulative earnings fall below expected cumulative earnings in future periods, earnings volatility in the Closed Block division, which is primarily due to changes in investment results, may not be offset by changes in the cumulative earnings policyholder dividend obligation. For a discussion of the Closed Block division’s realized investment gains (losses), net, see “—General Account Investments.”
 
As of December 31, 2024, the excess of actual cumulative earnings over the expected cumulative earnings was $2,096 million; however, due to the accumulation of net unrealized investment losses in excess of this amount, the policyholder dividend obligation balance as of December 31, 2024 was reduced to zero.

Operating Results
 
The following table sets forth the Closed Block division’s results for the periods indicated:

 
Year Ended December 31,
 202420232022
 (in millions)
U.S. GAAP results:
Revenues$3,287 $3,666 $2,958 
Benefits and expenses3,400 3,766 2,976 
Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities
$(113)$(100)$(18)

Income (loss) Before Income Taxes and Equity in Earnings of Joint Ventures and Other Operating Entities
 
2024 to 2023 Annual Comparison. Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities decreased $13 million. Net investment activity results decreased, primarily reflecting higher realized investment losses from the sale of fixed income securities and lower other income driven by unfavorable changes in the market value of fixed income and equity securities. These decreases were partially offset by higher net investment income driven by non-coupon investments. As a result of these and other factors, a $777 million reduction in the policyholder dividend obligation was recorded in 2024, compared to a $335 million reduction in 2023.
 
Revenues, Benefits and Expenses
 
2024 to 2023 Annual Comparison. Revenues decreased $379 million primarily driven by higher realized investment losses and lower other income, partially offset by higher net investment income, as discussed above.

Benefits and expenses decreased $366 million primarily driven by a decrease in dividends to policyholders, reflecting a higher reduction in the policyholder dividend obligation due to changes in cumulative earnings and other factors, as discussed above.


90
Table of Contents
Income Taxes
 
The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% applicable for 2024, 2023 and 2022, and the reported income tax expense (benefit) are provided in the following table:

Year Ended December 31,
 2024
2023(1)
2022(1)
 
($ in millions)
Expected federal income tax expense (benefit) at federal statutory rate$674 $645 $(397)
Non-taxable investment income(168)(162)(86)
Foreign taxes at other than U.S. rate189 191 122 
Low-income housing and other tax credits(94)(106)(128)
Changes in tax law50 (99)(11)
GILTI(24)5 101 
Sale of subsidiary(10)0 86 
Non-deductible expenses39 29 21 
Change in valuation allowance(45)111 16 
State taxes (net of federal benefit)
26 20 13 
Other(130)(21)(16)
Reported income tax expense (benefit)$507 $613 $(279)
Effective tax rate15.8 %20.0 %14.7 %
__________
(1)Prior period amounts have been updated to conform to current period presentation.

Effective Tax Rate

The effective tax rate is the ratio of “Total income tax expense (benefit)” divided by “Income before income taxes and equity in earnings of joint ventures and other operating entities.” Our effective tax rate for fiscal years 2024, 2023 and 2022 was 15.8%, 20.0%, and 14.7%, respectively. For a detailed description of the nature of each significant reconciling item, see Note 17 to the Consolidated Financial Statements.

Unrecognized Tax Benefits

The Company’s liability for income taxes includes the liability for unrecognized tax benefits and interest that relate to tax years still subject to review by the Internal Revenue Service or other taxing authorities. The completion of review or the expiration of the U.S. Federal statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The total unrecognized benefit as of December 31, 2024, 2023 and 2022 was $132 million, $133 million, and $84 million, respectively. It is possible the Company will pay the unrecognized tax benefit of approximately $86 million for prior year audit cycles attributable to the Section 952 election described in Note 17 within the next 12 months as it pursues resolution of the matter. The Company cannot predict with reasonable accuracy whether there will be any significant changes within the next twelve months to our total unrecognized tax benefits related to tax years for which the statute of limitations has not expired.

Income Tax Expense vs. Income Tax Paid in Cash

Income tax expense recorded under U.S. GAAP routinely differs from the income taxes paid in cash in any given year. Income tax expense recorded under U.S. GAAP is based on income reported in our Consolidated Statements of Operations for the current period and it includes both current and deferred taxes. Income taxes paid during the year include tax installments made for the current year as well as tax payments and refunds related to prior periods.

For additional information regarding income tax related items, see “Business—Regulation” and Note 17 to the Consolidated Financial Statements.

91
Table of Contents
General Account Investments

We maintain diversified investment portfolios in our general account to support our liabilities to customers as well as our other general liabilities. Investments and other assets that do not support general account liabilities, and are therefore excluded from our general account, are as follows:

•assets of our derivative operations;
•assets of our investment management operations, including investments managed for third parties; and
•those assets classified as “Separate account assets” on our balance sheet.

A portion of our general account investments support customer liabilities reinsured under coinsurance with funds withheld and modified coinsurance arrangements. With these reinsurance arrangements, we retain legal ownership of the assets (collectively, the “Funds Withheld") which remain on our Consolidated Statements of Financial Position, while the economic benefits and investment risk associated with the Funds Withheld assets ultimately inure to the reinsurer. The composition of the Funds Withheld assets is subject to investment guidelines specific to the reinsurance treaties, which may differ from the investment guidelines we set for our General Account, excluding Funds Withheld. The investment guidelines are in place to ensure the investment risks associated with Funds Withheld portfolios are appropriately managed. See Note 15 to the Consolidated Financial Statements for additional information regarding our material reinsurance agreements.

The general account portfolios, excluding Funds Withheld, are managed pursuant to the distinct objectives and investment policy statements of PFI excluding the Closed Block division and Funds Withheld, and of the Closed Block division. The primary investment objectives of PFI excluding the Closed Block division and Funds Withheld include:

•hedging and otherwise managing the market risk characteristics of the major product liabilities and other obligations of the Company;
•optimizing investment income yield within risk constraints over time; and
•for certain portfolios, optimizing total return, including both investment income yield and capital appreciation, within risk constraints over time, while managing the market risk exposures associated with the corresponding product liabilities.

We pursue our objective to optimize investment income yield for PFI excluding the Closed Block division and Funds Withheld over time through:

•the investment of net operating cash flows, including new product premium inflows, and proceeds from investment sales, repayments and prepayments into investments with attractive risk-adjusted yields; and
•the sale of investments, where appropriate, either to meet various cash flow needs or to manage the portfolio's risk exposure profile with respect to duration, credit, currency and other risk factors, while considering the impact on taxes and capital.

The primary investment objectives of the Closed Block division include:

•providing for the reasonable dividend expectations of the participating policyholders within the Closed Block division; and
•optimizing total return, including both investment income yield and capital appreciation, within risk constraints, while managing the market risk exposures associated with the major products in the Closed Block division.

Our portfolio management approach, while emphasizing our investment income yield and asset/liability risk management objectives, also takes into account the capital and tax implications of portfolio activity and our assertions regarding our ability and intent to hold debt securities to recovery. For a further discussion of our allowance for credit losses, including our assertions regarding any intention or requirement to sell debt securities before anticipated recovery, see “—Realized Investment Gains and Losses—Credit Losses” below.

Management of Investments

The Investment Committee of our Board of Directors (“Board”) oversees our proprietary investments, including our general account portfolios excluding Funds Withheld, and regularly reviews performance and risk positions. Our Chief Investment Officer Organization (“CIO Organization”) develops investment policies subject to risk limits proposed by our Risk Management group for the general account portfolios excluding Funds Withheld of our domestic and international insurance
92
Table of Contents
subsidiaries and directs and oversees management of the general account portfolios within risk limits approved annually by the Investment Committee.

The CIO Organization, including related functions within our insurance subsidiaries, works closely with product actuaries and Risk Management to understand the characteristics of our products and their associated market risk exposures. This information is incorporated into the development of target asset portfolios that manage market risk exposures associated with the liability characteristics and establish investment risk exposures, within tolerances prescribed by Prudential’s investment risk limits, on which we expect to earn an attractive risk-adjusted return. We develop asset strategies for specific classes of product liabilities and attributed or accumulated surplus, each with distinct risk characteristics. Market risk exposures associated with the liabilities include interest rate risk, which is addressed through the duration characteristics of the target asset mix, and currency risk, which is addressed by the currency profile of the target asset mix. In certain of our smaller markets outside of the U.S. and Japan, capital markets limitations hinder our ability to hedge interest rate exposure to the same extent we do for our U.S. and Japan businesses and lead us to accept a higher degree of interest rate risk in these smaller portfolios. General account portfolios typically include allocations to credit and other investment risks as a means to enhance investment yields and returns over time.

Most of our products can be categorized into the following three classes:

•interest-crediting products for which the rates credited to customers are periodically adjusted to reflect market and competitive forces and actual investment experience, such as fixed annuities and universal life insurance;
•participating individual and experience-rated group products in which customers participate in actual investment and business results through annual dividends, interest or return of premium; and
•products with fixed or guaranteed terms, such as traditional whole life and endowment products, guaranteed investment contracts (“GICs”), funding agreements and payout annuities.

Our total investment portfolio is composed of a number of operating portfolios. Each operating portfolio backs a specific set of liabilities, and the portfolios have a target asset mix that supports the liability characteristics, including duration, cash flow, liquidity needs and other criteria. As of December 31, 2024, the average duration of our domestic general account investment portfolios attributable to PFI excluding the Closed Block division and Funds Withheld, including the impact of derivatives, was between 6 and 7 years. As of December 31, 2024, the average duration of our international general account portfolios attributable to our Japanese insurance operations, including the impact of derivatives, was approximately 10 years and represented a blend of yen-denominated and U.S. dollar and Australian dollar-denominated investments, which have distinct average durations supporting the insurance liabilities we have issued in those currencies. Our asset/liability management process has enabled us to manage our portfolios through several market cycles.

We implement our portfolio strategies primarily through investment in a broad range of fixed income assets, including government and agency securities, public and private corporate bonds and structured securities and commercial mortgage loans. In addition, we hold allocations of non-coupon investments, which include equity securities and other invested assets such as limited partnerships and limited liability companies (“LPs/LLCs”), real estate held through direct ownership, derivative instruments, and seed money investments in separate accounts.

We manage our public fixed maturity portfolio to a risk profile directed or overseen by the CIO Organization and Risk Management groups and to a profile that also reflects the market environments impacting both our domestic and international insurance portfolios. The return that we earn on the portfolio will be reflected in investment income and in realized gains or losses on investments.

We use privately-placed corporate debt securities and commercial mortgage loans, which consist of mortgages on diversified properties in terms of geography, property type and borrowers, to enhance the yield on our portfolios and to improve the overall diversification of the portfolios. Private placements typically offer enhanced yields due to an illiquidity premium and generally offer enhanced credit protection in the form of covenants. Our origination capability offers the opportunity to lead transactions and gives us the opportunity for better terms, including covenants and call protection, and to take advantage of innovative deal structures.

Derivative strategies are employed in the context of our risk management framework to enhance our ability to manage interest rate and currency risk exposures of the asset portfolio relative to the liabilities and to manage credit and equity positions in the investment portfolios. For a discussion of our risk management process, see “Quantitative and Qualitative Disclosures About Market Risk” below.

93
Table of Contents
Our portfolio asset allocation reflects our emphasis on diversification across asset classes, sectors and issuers. The CIO Organization, directly and through related functions within the insurance subsidiaries, implements portfolio strategies primarily through various investment management units within Prudential’s PGIM segment. Activities of the PGIM segment on behalf of the general account portfolios are directed and overseen by the CIO Organization and monitored by Risk Management for compliance with investment risk limits.

Portfolio Composition
 
Our investment portfolio consists of public and private fixed maturity securities, commercial mortgage and other loans, policy loans and non-coupon investments, which include equity securities and other invested assets such as LPs/LLCs, real estate held through direct ownership, derivative instruments and seed money investments in separate accounts. The composition of our general account reflects, within the discipline provided by our risk management approach, our need for competitive results and the selection of diverse investment alternatives available primarily through our PGIM segment. The size of our portfolio enables us to invest in asset classes that may be unavailable to the typical investor.

The following tables set forth the composition of our general account investment portfolio apportioned between PFI excluding the Closed Block division and Funds Withheld, the Closed Block division, and Funds Withheld as of the dates indicated:
94
Table of Contents
 December 31, 2024
 
PFI Excluding
Closed Block Division and Funds Withheld
Closed Block Division
Funds Withheld
Total
 ($ in millions)
Fixed maturities:
Public, available-for-sale, at fair value$206,078 54.9 %$19,103 $4,837 $230,018 
Private, available-for-sale, at fair value68,759 18.3 9,625 2,795 81,179 
Fixed maturities, trading, at fair value 4,068 1.1 647 7,732 12,447 
Assets supporting experience-rated contractholder liabilities, at fair value3,707 1.0 0 0 3,707 
Equity securities, at fair value7,254 1.9 1,642 0 8,896 
Commercial mortgage and other loans, at book value, net of allowance53,987 14.4 7,652 233 61,872 
Policy loans, at outstanding balance6,447 1.7 3,348 0 9,795 
Other invested assets, net of allowance(1)16,781 4.4 4,929 1,867 23,577 
Short-term investments, net of allowance8,493 2.3 520 43 9,056 
Total general account investments375,574 100.0 %47,466 17,507 440,547 
Invested assets of other entities and operations(2)4,233 0 0 4,233 
Total investments$379,807 $47,466 $17,507 $444,780 
 December 31, 2023
 
PFI Excluding
Closed Block Division and Funds Withheld(3)
Closed Block Division
Funds Withheld(3)
Total
 ($ in millions)
Fixed maturities:
Public, available-for-sale, at fair value$217,469 58.9 %$20,483 $3,270 $241,222 
Private, available-for-sale, at fair value61,861 16.7 10,003 2,678 74,542 
Fixed maturities, trading, at fair value 4,954 1.3 887 2,944 8,785 
Assets supporting experience-rated contractholder liabilities, at fair value3,168 0.9 0 0 3,168 
Equity securities, at fair value5,664 1.5 1,970 0 7,634 
Commercial mortgage and other loans, at book value, net of allowance50,994 13.8 7,769 23 58,786 
Policy loans, at outstanding balance6,568 1.8 3,479 0 10,047 
Other invested assets, net of allowance(1)13,934 3.8 4,513 1,007 19,454 
Short-term investments, net of allowance4,709 1.3 232 51 4,992 
Total general account investments369,321 100.0 %49,336 9,973 428,630 
Invested assets of other entities and operations(2)6,103 0 0 6,103 
Total investments$375,424 $49,336 $9,973 $434,733 
__________
(1)Other invested assets consist of investments in LPs/LLCs, real estate held through direct ownership, derivative instruments and other miscellaneous investments. For additional information regarding these investments, see “—Other Invested Assets” below.
(2)Includes invested assets of our investment management and derivative operations. Excludes assets of our investment management operations that are managed for third parties and those assets classified as “Separate account assets” on our Consolidated Statements of Financial Position. For additional information regarding these investments, see “—Invested Assets of Other Entities and Operations” below.
(3)Prior period amounts have been updated to conform to current period presentation.

The increase in general account investments attributable to PFI excluding the Closed Block division and Funds Withheld in 2024 was primarily due to net business inflows and the reinvestment of net investment income, partially offset by the translation impact of the U.S. dollar strengthening against the yen and an increase in U.S. and Japan interest rates. For information regarding the methodology used in determining the fair value of our fixed maturities, see Note 6 to the Consolidated Financial Statements.
 
95
Table of Contents
As of December 31, 2024 and 2023, 42% and 44%, respectively, of our general account investments attributable to PFI excluding the Closed Block division and Funds Withheld related to our Japanese insurance operations. The following table sets forth the composition of the investments of our Japanese insurance operations’ general account, as of the dates indicated:
 
December 31,
 20242023
Japanese Insurance Operations
 (in millions)
Fixed maturities:
Public, available-for-sale, at fair value$102,904 $113,737 
Private, available-for-sale, at fair value21,603 20,891 
Fixed maturities, trading, at fair value 461 669 
Assets supporting experience-rated contractholder liabilities, at fair value 3,707 3,168 
Equity securities, at fair value1,845 1,614 
Commercial mortgage and other loans, at book value, net of allowance16,137 17,980 
Policy loans, at outstanding balance2,608 2,670 
Other invested assets(1)6,588 5,617 
Short-term investments, net of allowance2,324 421 
Total Japanese general account investments$158,177 $166,767 
__________
(1)Other invested assets consist of investments in LPs/LLCs, real estate held through direct ownership, derivative instruments and other miscellaneous investments.
 
The decrease in general account investments related to our Japanese insurance operations in 2024 was primarily due to the translation impact of the U.S. dollar strengthening against the yen and an increase in U.S. and Japan interest rates, partially offset by net business inflows and the reinvestment of net investment income.

As of December 31, 2024, our Japanese insurance operations had $88.1 billion, at carrying value, of investments denominated in U.S. dollars, including $1.0 billion that were hedged to yen through third-party derivative contracts and $80.5 billion that support liabilities denominated in U.S. dollars, with the remainder constituting part of the hedging of foreign currency exchange rate exposure to U.S. dollar-equivalent equity. As of December 31, 2023, our Japanese insurance operations had $86.5 billion, at carrying value, of investments denominated in U.S. dollars, including $1.3 billion that were hedged to yen through third-party derivative contracts and $77.7 billion that support liabilities denominated in U.S. dollars, with the remainder constituting part of the hedging of foreign currency exchange rate exposure of U.S. dollar-equivalent equity. The $1.6 billion increase in the carrying value of U.S. dollar-denominated investments from December 31, 2023 was primarily attributable to the reinvestment of net investment income and portfolio growth as a result of net business inflows.

Our Japanese insurance operations had $2.5 billion and $4.2 billion, at carrying value, of investments denominated in Australian dollars that support liabilities denominated in Australian dollars as of December 31, 2024 and 2023, respectively. The $1.7 billion decrease in the carrying value of Australian dollar-denominated investments from December 31, 2023 was primarily attributable to run-off of the portfolio. For additional information regarding U.S. and Australian dollar investments held in our Japanese insurance operations and a discussion of our yen hedging strategy, see “Results of Operations by Segment—Impact of Foreign Currency Exchange Rates” above.

 Investment Results

The following tables set forth the investment results of our general account apportioned between PFI excluding the Closed Block division and Funds Withheld, the Closed Block division and Funds Withheld, for the periods indicated. The yields are based on net investment income as reported under U.S. GAAP and as such do not include certain interest-related items, such as settlements of duration management swaps which are included in “Realized investment gains (losses), net.”
96
Table of Contents
Year Ended December 31, 2024
PFI Excluding Closed Block Division, Funds Withheld and Japanese Insurance Operations
Japanese Insurance Operations
PFI Excluding Closed Block Division and Funds Withheld
Closed Block Division
Funds Withheld
Total(5)
Yield(1)AmountYield(1)AmountYield(1)AmountAmountAmountAmount
($ in millions)
Fixed maturities(2)5.53 %$8,538 3.15 %$4,358 4.40 %$12,896 $1,491 $828 $15,215 
Assets supporting experience-rated contractholder liabilities 0.00 0 1.11 38 1.11 38 0 0 38 
Equity securities3.23 121 3.29 49 3.25 170 35 1 206 
Commercial mortgage and other loans4.81 1,605 3.81 632 4.48 2,237 325 13 2,575 
Policy loans5.18 194 3.81 98 4.62 292 204 (4)492 
Short-term investments and cash equivalents6.46 870 5.57 126 6.35 996 72 9 1,077 
Gross investment income5.42 11,328 3.21 5,301 4.44 16,629 2,127 847 19,603 
Investment expenses(0.20)(787)(0.12)(329)(0.16)(1,116)(288)(3)(1,407)
Investment income after investment expenses5.22 %10,541 3.09 %4,972 4.28 %15,513 1,839 844 18,196 
Other invested assets(3)546 489 1,035 209 448 1,692 
Investment results of other entities and operations(4)21 0 21 0 0 21 
Total net investment income
$11,108 $5,461 $16,569 $2,048 $1,292 $19,909 

Year Ended December 31, 2023
PFI Excluding Closed Block Division, Funds Withheld and Japanese Insurance Operations(6)
Japanese Insurance Operations
PFI Excluding Closed Block Division and Funds Withheld(6)
Closed Block Division
Funds Withheld(6)
Total(5)
Yield(1)AmountYield(1)AmountYield(1)AmountAmountAmountAmount
($ in millions)
Fixed maturities(2)5.18 %$8,114 2.92 %$4,004 4.12 %$12,118 $1,489 $105 $13,712 
Assets supporting experience-rated contractholder liabilities 0.00 0 1.13 25 1.13 25 0 0 25 
Equity securities2.82 95 3.61 61 3.09 156 41 0 197 
Commercial mortgage and other loans4.19 1,299 3.70 649 4.01 1,948 322 0 2,270 
Policy loans5.07 191 3.88 99 4.59 290 209 0 499 
Short-term investments and cash equivalents5.62 748 3.72 94 5.41 842 55 0 897 
Gross investment income5.17 10,447 3.03 4,932 4.24 15,379 2,116 105 17,600 
Investment expenses(0.13)(551)(0.13)(318)(0.13)(869)(254)(1)(1,124)
Investment income after investment expenses5.04 %9,896 2.90 %4,614 4.11 %14,510 1,862 104 16,476 
Other invested assets(3)629 306 935 97 78 1,110 
Investment results of other entities and operations(4)279 0 279 0 0 279 
Total net investment income
$10,804 $4,920 $15,724 $1,959 $182 $17,865 
97
Table of Contents

Year Ended December 31, 2022
PFI Excluding Closed Block Division, funds Withheld and Japanese Insurance Operations(7)
Japanese Insurance Operations
PFI Excluding Closed Block Division and Funds Withheld(7)
Closed Block Division
Funds Withheld(7)
Total(5)
Yield(1)AmountYield(1)AmountYield(1)AmountAmountAmountAmount
($ in millions)
Fixed maturities(2)4.56 %$7,036 2.75 %$3,831 3.71 %$10,867 $1,375 $0 $12,242 
Assets supporting experience-rated contractholder liabilities 1.68 123 1.01 30 1.49 153 0 0 153 
Equity securities1.95 56 3.59 67 2.59 123 37 0 160 
Commercial mortgage and other loans3.67 1,164 3.67 686 3.67 1,850 322 0 2,172 
Policy loans4.94 184 3.90 99 4.52 283 216 0 499 
Short-term investments and cash equivalents2.70 340 3.75 31 2.75 371 24 0 395 
Gross investment income4.19 8,903 2.86 4,744 3.61 13,647 1,974 0 15,621 
Investment expenses(0.13)(350)(0.13)(281)(0.13)(631)(155)0 (786)
Investment income after investment expenses4.06 %8,553 2.73 %4,463 3.48 %13,016 1,819 0 14,835 
Other invested assets(3)744 208 952 157 0 1,109 
Investment results of other entities and operations(4)93 0 93 0 0 93 
Total net investment income
$9,390 $4,671 $14,061 $1,976 $0 $16,037 
__________
(1)The denominator in the yield percentage is based on quarterly average carrying values for all asset types except for fixed maturities which are based on amortized cost, net of allowance. Amounts for fixed maturities, short-term investments and cash equivalents are also netted for securities lending activity (i.e., income netted for rebate expenses and asset values netted for securities lending liabilities). A yield is not presented for other invested assets as it is not considered a meaningful measure of investment performance. Yields exclude investment income and assets related to other invested assets.
(2)Includes fixed maturity securities classified as available-for-sale and excludes fixed maturity securities classified as trading, which are included in other invested assets.
(3)Other invested assets consist of investments in LPs/LLCs, real estate held through direct ownership, derivative instruments, fixed maturities classified as trading and other miscellaneous investments.
(4)Includes net investment income of our investment management operations.
(5)The total yield excluding Funds Withheld was 4.19%, 4.01% and 3.54% for the years ended December 31, 2024, 2023 and 2022, respectively.
(6)Prior period amounts have been updated to conform to current period presentation.
(7)Amounts during 2022 were not material.

The increase in investment income after investment expenses yield attributable to our general account investments, excluding the Closed Block division, Funds Withheld and the Japanese insurance operations’ portfolio for 2024 compared to 2023 was primarily the result of higher fixed income reinvestment rates.

The increase in investment income after investment expenses yield attributable to the Japanese insurance operations’ portfolio for 2024 compared to 2023 was primarily the result of higher fixed income reinvestment rates.

Both the U.S. dollar-denominated and Australian dollar-denominated fixed maturities that are not hedged to yen through third-party derivative contracts provide a yield that is substantially higher than the yield on comparable yen-denominated fixed maturities. The average amortized cost of U.S. dollar-denominated fixed maturities that are not hedged to yen through third-party derivative contracts was approximately $67.0 billion and $62.7 billion, for the years ended December 31, 2024 and 2023, respectively. The majority of U.S. dollar-denominated fixed maturities support liabilities that are denominated in U.S. dollars. The average amortized cost of Australian dollar-denominated fixed maturities that are not hedged to yen through third-party derivative contracts was approximately $3.1 billion and $4.5 billion, for the years ended December 31, 2024 and 2023, respectively. The majority of Australian dollar-denominated fixed maturities support liabilities that are denominated in Australian dollars. For additional information regarding U.S. and Australian dollar investments held in our Japanese insurance operations, see “—Results of Operations by Segment—Impact of Foreign Currency Exchange Rates” above.



98
Table of Contents
Realized Investment Gains and Losses

The following table sets forth “Realized investment gains (losses), net” of our general account apportioned between PFI excluding the Closed Block division and Funds Withheld, the Closed Block division and Funds Withheld, by investment type as well as “Related charges and adjustments” for the periods indicated:

 Years Ended December 31,
 202420232022
 (in millions)
PFI excluding Closed Block Division and Funds Withheld(4):
Realized investment gains (losses), net:
(Addition to) release of allowance for credit losses on fixed maturities$(146)$(49)$(5)
Write-downs on fixed maturities(1)(893)(43)(85)
Net gains (losses) on sales and maturities (1,037)(659)(1,027)
Fixed maturity securities(2)(2,076)(751)(1,117)
(Addition to) release of allowance for credit losses on loans(100)(199)(65)
Write-downs on mortgage loans
(123)(29)0 
Net gains (losses) on sales and maturities0 0 (70)
Commercial mortgage and other loans(223)(228)(135)
Derivatives78 (1,774)(3,198)
OTTI losses on other invested assets recognized in earnings(16)(50)(69)
(Addition to) release of allowance for credit losses on other invested assets0 4 (4)
Other net gains (losses)193 202 48 
Other177 156 (25)
Subtotal (2,044)(2,597)(4,475)
Investment results of other entities and operations(3)48 0 238 
Total — PFI excluding Closed Block Division and Funds Withheld(4)
(1,996)(2,597)(4,237)
Related charges and adjustments
(163)(296)(2,089)
Realized investment gains (losses), net, and related charges and adjustments(4)
$(2,159)$(2,893)$(6,326)
Closed Block Division:
Realized investment gains (losses), net:
(Addition to) release of allowance for credit losses on fixed maturities$(49)$29 $(17)
Write-downs on fixed maturities(1)(8)(6)(31)
Net gains (losses) on sales and maturities(679)(370)(318)
Fixed maturity securities(2)(736)(347)(366)
(Addition to) release of allowance for credit losses on loans(17)(58)(14)
Write-downs on mortgage loans
(30)0 (26)
Commercial mortgage and other loans(47)(58)(40)
Derivatives13 19 145 
(Addition to) release of allowance for credit losses on other invested assets0 2 (2)
Other net gains (losses)1 4 (7)
Other1 6 (9)
Subtotal — Closed Block Division$(769)$(380)$(270)
Funds Withheld(4):
Realized investment gains (losses), net:
(Addition to) release of allowance for credit losses on fixed maturities$0 $0 $0 
99
Table of Contents
Write-downs on fixed maturities(1)(24)(32)0 
Net gains (losses) on sales and maturities(434)(179)0 
Fixed maturity securities(2)(458)(211)0 
Commercial mortgage and other loans0 0 0 
Derivatives574 (444)0 
(Addition to) release of allowance for credit losses on other invested assets0 0 0 
Other net gains (losses)(4)
(780)17 0 
Other(780)17 0 
Subtotal — Funds Withheld
(664)(638)0 
Related charges and adjustments
673 966 0 
Realized investment gains (losses), net, and related charges and adjustments(5)
$9 $328 $0 
Consolidated PFI realized investment gains (losses), net $(3,429)$(3,615)$(4,507)
__________
(1)Amounts represent securities actively marketed for sale, securities where it is more likely than not the Company will be required to sell prior to the recovery of the amortized cost basis, and write-downs of credit adverse securities.
(2)Includes fixed maturity securities classified as available-for-sale and excludes fixed maturity securities classified as trading.
(3)Includes “realized investment gains (losses), net” of our investment management operations.
(4)Includes changes in the value of reinsurance payables and funds withheld payables, primarily reflecting the impact of net investment income on withheld assets that are ceded to certain reinsurance counterparties.
(5)For the year ended December 31, 2023, amounts have been updated to conform to current period presentation. Amounts for the year ended December 31, 2022 were not material.

The following analysis reflects realized gains (losses) attributable to PFI excluding Closed Block Division and Funds Withheld.

2024 to 2023 Annual Comparison. Net losses on sales and maturities of fixed maturity securities were $1,037 million for the year ended December 31, 2024 primarily driven by net losses on sales in a higher interest rate environment, partially offset by the impact of foreign currency exchange rate movements on U.S. dollar-denominated securities that matured or were sold within our International Businesses. Net losses on sales and maturities of fixed maturity securities were $659 million for the year ended December 31, 2023 primarily driven by net losses on sales in a higher interest rate environment, partially offset by the impact of foreign currency exchange rate movements on U.S. dollar-denominated securities that matured or were sold within our International Businesses.

Net realized gains on derivative instruments of $78 million for the year ended December 31, 2024, primarily included:

•$682 million of net gains on product-related embedded derivatives and related hedge positions associated with certain indexed annuity contracts;
•$513 million of gains on foreign currency hedges primarily due to USD appreciation versus the Euro, Brazilian real, British pound and AUD;
•$100 million of gains on synthetic guarantees; and
•$94 million of gains on credit default swaps due to credit spreads tightening.

Partially offsetting these gains were:

•$1,311 million of losses on interest rate derivatives due to increases in swap and U.S. Treasury rates.

Net realized losses on derivative instruments of $1,774 million for the year ended December 31, 2023, primarily included:

•$826 million of net losses on product-related embedded derivatives and related hedge positions associated with certain indexed annuity contracts;
•$544 million of losses on interest rate derivatives due to increases in swap and U.S. Treasury rates; and
•$496 million of losses on foreign currency hedges primarily due to USD depreciation versus the Euro and British pound.

Partially offsetting these losses were:

100
Table of Contents
•$147 million of gains on credit default swaps due to credit spreads tightening.

For a discussion of living benefit guarantees and related hedge positions in our Individual Retirement Strategies business, see “—Results of Operations by Segment—U.S. Businesses—Retirement Strategies” above.

Included in the table above are “Related charges and adjustments,” which include the portions of “Realized investment gains (losses), net” that are either (1) included in adjusted operating income or (2) included in other reconciling line items to adjusted operating income, such as “Divested and Run-off Businesses.” “Related adjustments” also includes the portions of “Other income (loss),” “Net investment income,” and “Policyholders’ benefits” that are excluded from adjusted operating income and (3) charges related to “Realized investment gains (losses), net,” which are excluded from adjusted operating income.

These adjustments are made to arrive at “Realized investment gains (losses), net, and related charges and adjustments,” which is excluded from adjusted operating income. See Note 23 to the Consolidated Financial Statements for additional information regarding adjusted operating income and its reconciliation to “Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities.” The results include changes in the fair value of equity securities and fixed income securities that are designated as trading, settlements and changes in the value of derivatives, the impact of foreign currency exchange rate movements on certain non-local currency denominated assets and liabilities, as well as changes in certain policyholder reserves and other costs.

Credit Losses

The level of credit losses generally reflects current and expected economic conditions and is expected to increase when economic conditions worsen and to decrease when economic conditions improve. Historically, the causes of credit losses have been specific to each individual issuer and have not directly resulted in credit losses to other securities within the same industry or geographic region. We may also realize additional credit and interest rate-related losses through sales of investments pursuant to our credit risk and portfolio management objectives.

We maintain separate monitoring processes for public and private fixed maturities and create watch lists to highlight securities that require special scrutiny and management. For private placements, our credit and portfolio management processes help ensure prudent controls over valuation and management. We have separate pricing and authorization processes to establish “checks and balances” for new investments. We apply consistent standards of credit analysis and due diligence for all transactions, whether they originate through our own in-house staff or through agents. Our regional offices closely monitor the portfolios in their regions. We set all valuation standards centrally, and we assess the fair value of all investments quarterly. Our public and private fixed maturity investment managers formally review all public and private fixed maturity holdings on a quarterly basis and more frequently when necessary to identify potential credit deterioration whether due to ratings downgrades, unexpected price variances and/or company or industry-specific concerns.

For LPs/LLCs accounted for using the equity method and for wholly-owned investment real estate, the carrying value of these investments is written down or impaired to fair value when a decline in value is considered to be other-than-temporary. For additional information regarding our OTTI policies, see Note 2 to the Consolidated Financial Statements.

General Account Investments of PFI excluding Closed Block Division and Funds Withheld
 
In the following sections, we provide details about our investment portfolio, excluding investments held in the Closed Block division and the Funds Withheld portfolios. We believe the details of the composition of our investment portfolio excluding Closed Block division and Funds Withheld are most relevant to an understanding of our operations that are pertinent to investors in Prudential Financial, Inc. because (1) substantially all Closed Block division assets support obligations and liabilities relating to the Closed Block policies where the economics inure to those participating policies and not to shareholders of the Company’s common stock and (2) the Funds Withheld assets support liabilities relating to reinsurance agreements where the economic benefits and associated investment risk of the Funds Withheld ultimately inure to the reinsurer. See Notes 15 and 16 to the Consolidated Financial Statements for additional information regarding our material reinsurance agreements and the Closed Block division, respectively.

In the following sections, prior period amounts have been updated to conform to the current period presentation to exclude investments related to the Funds Withheld portfolios.


101
Table of Contents
Fixed Maturity Securities

In the following sections, we provide details about our fixed maturity securities portfolio, which excludes fixed maturity securities classified as assets supporting experience-rated contractholder liabilities and classified as trading.
 
Fixed Maturity Securities by Contractual Maturity Date
 
The following table sets forth the breakdown of the amortized cost of our fixed maturity securities portfolio by contractual maturity, as of the date indicated:
 
 December 31, 2024
 Amortized
Cost		% of Total
 ($ in millions)
Corporate & government securities:
Maturing in 2025$8,549 2.9 %
Maturing in 202611,721 3.9 
Maturing in 202713,851 4.6 
Maturing in 202812,359 4.1 
Maturing in 202914,298 4.8 
Maturing in 203012,007 4.0 
Maturing in 203111,955 4.0 
Maturing in 203212,109 4.0 
Maturing in 20339,501 3.2 
Maturing in 2034
10,290 3.4 
Maturing in 2035
6,135 2.0 
Maturing in 2036 and beyond
154,080 51.3 
Total corporate & government securities276,855 92.2 
Asset-backed securities14,664 4.9 
Commercial mortgage-backed securities6,185 2.1 
Residential mortgage-backed securities2,468 0.8 
Total fixed maturities$300,172 100.0 %
 
Fixed Maturity Securities by Industry

The following table sets forth the composition of the portion of our fixed maturity, available-for-sale portfolio by industry category and the associated gross unrealized gains and losses, as well as the allowance for credit losses (“ACL”), as of the dates indicated: 

102
Table of Contents
 December 31, 2024December 31, 2023
Industry(1)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		ACLFair
Value		Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		ACLFair
Value
 (in millions)
Corporate securities:
Finance$43,697 $470 $3,614 $4 $40,549 $39,542 $485 $3,255 $10 $36,762 
Consumer non-cyclical31,721 420 3,504 33 28,604 32,392 697 2,998 11 30,080 
Utility28,984 421 2,991 18 26,396 27,548 635 2,610 3 25,570 
Capital goods19,444 242 1,561 37 18,088 17,357 412 1,284 0 16,485 
Consumer cyclical11,955 198 674 81 11,398 10,739 287 574 5 10,447 
Foreign agencies1,838 26 168 0 1,696 2,795 80 210 0 2,665 
Energy12,310 159 894 19 11,556 11,157 270 730 0 10,697 
Communications6,872 169 568 63 6,410 6,648 272 541 60 6,319 
Basic industry7,651 96 619 0 7,128 6,678 174 498 3 6,351 
Transportation11,783 177 1,002 0 10,958 10,858 326 785 0 10,399 
Technology5,554 84 408 14 5,216 4,935 101 333 0 4,703 
Industrial other4,750 30 881 5 3,894 5,018 49 726 6 4,335 
Total corporate securities186,559 2,492 16,884 274 171,893 175,667 3,788 14,544 98 164,813 
Foreign government(2)62,880 1,828 7,801 0 56,907 71,130 3,878 5,169 54 69,785 
Residential mortgage-backed(3)2,468 14 214 0 2,268 2,305 22 190 0 2,137 
Asset-backed14,664 201 40 0 14,825 9,799 190 79 0 9,910 
Commercial mortgage-backed6,185 22 344 0 5,863 6,159 23 434 0 5,748 
U.S. Government21,451 584 4,499 0 17,536 21,434 1,072 3,402 0 19,104 
State & Municipal5,965 129 549 0 5,545 8,018 244 429 0 7,833 
Total fixed maturities, available-for-sale
$300,172 $5,270 $30,331 $274 $274,837 $294,512 $9,217 $24,247 $152 $279,330 
__________
(1)Investment data has been classified based on standard industry categorizations for domestic public holdings and similar classifications by industry for all other holdings.
(2)As of December 31, 2024 and 2023, based on amortized cost, 90% and 88%, respectively, represent Japanese government bonds held by our Japanese insurance operations, respectively. No other individual country represented more than 5% of the balance as of both December 31, 2024 and 2023.
(3)As of December 31, 2024 and 2023, based on amortized cost, 93% and 100% were rated A or higher, respectively.

The increase in net unrealized losses from December 31, 2023 to December 31, 2024 was primarily due to increases in U.S. and Japan interest rates partially offset by credit spreads tightening.

Fixed Maturity Securities Credit Quality
 
The Securities Valuation Office (“SVO”) of the National Association of Insurance Commissioners (“NAIC”) evaluates the investments of insurers for statutory reporting purposes and assigns fixed maturity securities to one of six categories called “NAIC Designations.” In general, NAIC Designations of “1” highest quality, or “2” high quality, include fixed maturities considered investment grade, which include securities rated Baa3 or higher by Moody’s Investor Service, Inc. (“Moody’s”) or BBB- or higher by Standard & Poor’s Rating Services (“S&P”). NAIC Designations of “3” through “6” generally include fixed maturities referred to as below investment grade, which include securities rated Ba1 or lower by Moody’s and BB+ or lower by S&P. The NAIC Designations for commercial mortgage-backed securities and non-agency residential mortgage-backed securities, including our asset-backed securities collateralized by sub-prime mortgages, are based on security level expected losses as modeled by an independent third party (engaged by the NAIC) and the statutory carrying value of the security, including any purchase discounts or impairment charges previously recognized.

103
Table of Contents
As a result of time lags between the funding of investments, the finalization of legal documents, and the completion of the SVO filing process, the fixed maturity portfolio includes certain securities that have not yet been designated by the SVO as of each balance sheet date. Pending receipt of SVO designations, the categorization of these securities by NAIC Designation is based on the expected ratings indicated by internal analysis.

Ratings assigned by nationally recognized rating agencies include S&P, Moody’s, Fitch Ratings, Inc. (“Fitch”) and Morningstar, Inc. (“Morningstar”). Low issue composite rating uses ratings from the major credit rating agencies or, if these are not available, an equivalent internal rating. For securities where the ratings assigned are not equivalent, the second lowest rating is utilized.

Investments of our international insurance companies are not subject to NAIC guidelines. Investments of our Japanese insurance operations are regulated locally by the Financial Services Agency (“FSA”), an agency of the Japanese government. The FSA has its own investment quality criteria and risk control standards. Our Japanese insurance companies comply with the FSA’s credit quality review and risk monitoring guidelines. The credit quality ratings of the investments of our Japanese insurance companies are based on ratings assigned by nationally recognized credit rating agencies, including Moody’s and S&P, or rating equivalents based on ratings assigned by Japanese credit rating agencies.

The following table sets forth our fixed maturity, available-for-sale portfolio by NAIC Designation or equivalent rating, as of the dates indicated:
 
December 31, 2024December 31, 2023
NAIC Designation(1)(2)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses(3)		ACLFair
Value		Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses(3)		ACLFair
Value
 (in millions)
1$195,449 $3,669 $22,081 $0 $177,037 $199,226 $6,923 $17,232 $1 $188,916 
287,400 1,287 7,197 0 81,490 77,919 1,900 6,190 0 73,629 
Subtotal High or Highest Quality Securities(4)282,849 4,956 29,278 0 258,527 277,145 8,823 23,422 1 262,545 
311,290 174 856 0 10,608 10,346 261 484 5 10,118 
43,910 63 131 28 3,814 4,877 78 188 55 4,712 
51,490 46 46 36 1,454 1,762 34 132 10 1,654 
6633 31 20 210 434 382 21 21 81 301 
Subtotal Other Securities(5)(6)17,323 314 1,053 274 16,310 17,367 394 825 151 16,785 
Total fixed maturities, available-for-sale
$300,172 $5,270 $30,331 $274 $274,837 $294,512 $9,217 $24,247 $152 $279,330 
__________
(1)Reflects equivalent ratings for investments of the international insurance operations.
(2)As of December 31, 2024 and 2023, includes 803 securities with amortized cost of $4,147 million (fair value, $3,840 million) and 639 securities with amortized cost of $7,242 million (fair value, $7,227 million), respectively, that have been categorized based on expected NAIC Designations pending receipt of SVO ratings.
(3)As of December 31, 2024, includes gross unrealized losses of $625 million on public fixed maturities and $428 million on private fixed maturities considered to be other than high or highest quality and, as of December 31, 2023, includes gross unrealized losses of $416 million on public fixed maturities and $409 million on private fixed maturities considered to be other than high or highest quality.
(4)On an amortized cost basis, as of December 31, 2024, includes $219,914 million of public fixed maturities and $62,935 million of private fixed maturities and, as of December 31, 2023, includes $221,463 million of public fixed maturities and $55,682 million of private fixed maturities.
(5)On an amortized cost basis, as of December 31, 2024, includes $6,706 million of public fixed maturities and $10,617 million of private fixed maturities and, as of December 31, 2023, includes $7,684 million of public fixed maturities and $9,683 million of private fixed maturities.
(6)On an amortized cost basis, as of December 31, 2024, securities considered below investment grade based on low issue composite ratings total $14,353 million, or 5% of the total fixed maturities, and include securities considered high or highest quality by the NAIC based on the rules described above.

Asset-Backed and Commercial Mortgage-Backed Securities

The following table sets forth the amortized cost and fair value of asset-backed and commercial mortgage-backed securities within our fixed maturity, available-for-sale portfolio by credit quality, as of the dates indicated:

104
Table of Contents
December 31, 2024December 31, 2023
Asset-Backed
Securities(2)		Commercial Mortgage-Backed Securities(3)Asset-Backed
Securities(2)		Commercial Mortgage-Backed Securities(3)
Low Issue Composite Rating(1)Amortized Cost
Fair
Value
Amortized Cost
Fair
Value
Amortized Cost
Fair
Value
Amortized Cost
Fair
Value
(in millions)
AAA$7,548 $7,624 $4,905 $4,735 $5,449 $5,523 $4,683 $4,432 
AA4,836 4,863 1,271 1,119 3,327 3,314 1,475 1,315 
A1,790 1,795 1 1 814 816 1 1 
BBB363 367 0 0 68 70 0 0 
BB and below127 176 8 8 141 187 0 0 
Total(4)$14,664 $14,825 $6,185 $5,863 $9,799 $9,910 $6,159 $5,748 
__________ 
(1)The table above provides ratings as assigned by nationally recognized rating agencies as of December 31, 2024 and 2023, including S&P, Moody’s, Fitch and Morningstar.
(2)Includes credit tranched securities collateralized by loan obligations (“CLOs”), auto loans, education loans and other asset types.
(3)As of both December 31, 2024 and 2023, based on amortized cost, 100% were securities with vintages of 2013 or later.
(4)Excludes fixed maturity securities classified as “Assets supporting experience-rated contractholder liabilities” and “Fixed maturities, trading.”

Included in “Asset-backed securities” above are investments in CLOs. The following table sets forth information pertaining to these investments in CLOs within our fixed maturity, available-for-sale portfolio, as of the dates indicated:

December 31, 2024December 31, 2023
Collateralized Loan Obligations
Low Issue Composite Rating(1)Amortized CostFair ValueAmortized CostFair Value
(in millions)
AAA$5,811 $5,883 $4,744 $4,828 
AA3,937 3,970 2,968 2,967 
A13 13 14 13 
BBB14 14 15 14 
BB and below11 11 11 11 
Total(2)(3)$9,786 $9,891 $7,752 $7,833 
__________ 
(1)The table above provides ratings as assigned by nationally recognized rating agencies as of December 31, 2024 and 2023, including S&P, Moody’s, Fitch and Morningstar.
(2)There was no allowance for credit losses as of both December 31, 2024 and 2023.
(3)Excludes fixed maturity securities classified as “Assets supporting experience-rated contractholder liabilities” and “Fixed maturities, trading.”

Assets Supporting Experience-Rated Contractholder Liabilities
 
For information regarding the composition of “Assets supporting experience-rated contractholder liabilities,” see Note 3 to the Consolidated Financial Statements.
 
Commercial Mortgage and Other Loans
 
Investment Mix
 
The following table sets forth the composition of our commercial mortgage and other loans portfolio, as of the dates indicated:
105
Table of Contents
 December 31, 2024December 31, 2023
 (in millions)
Commercial mortgage and agricultural property loans$53,384 $50,786 
Uncollateralized loans595 425 
Residential property loans19 30 
Other collateralized loans457 125 
Total recorded investment gross of allowance(1)54,455 51,366 
Allowance for credit losses(468)(372)
Total commercial mortgage and other loans, net
$53,987 $50,994 
__________
(1)As a percentage of recorded investment gross of allowance, 99% of these assets were current as of both December 31, 2024 and 2023.
 
We originate commercial mortgage and agricultural property loans using a dedicated sales and underwriting staff through our various regional offices in the U.S. and international offices primarily in London and Tokyo. All loans are underwritten consistently to our standards using a proprietary quality rating system that has been developed from our industry experience in real estate and mortgage lending.

Uncollateralized loans primarily represent corporate loans and unsecured consumer loans.
 
Residential property loans primarily include Japanese recourse loans. To the extent there is a default on these recourse loans, we can make a claim against the personal assets of the property owner, in addition to the mortgaged property. These loans are also backed by third-party guarantors.

Other collateralized loans include mezzanine real estate debt investments and consumer loans.

Composition of Commercial Mortgage and Agricultural Property Loans
 
Our commercial mortgage and agricultural property loan portfolio strategy emphasizes diversification by property type and geographic location. The following tables set forth the breakdown of the gross carrying values of commercial mortgage and agricultural property loans by geographic region and property type, as of the dates indicated:
 
 December 31, 2024December 31, 2023
 Gross
Carrying
Value		% of
Total		Gross
Carrying
Value		% of
Total
 ($ in millions)
Commercial mortgage and agricultural property loans by region:
U.S. Regions(1):
Pacific$18,683 35.0 %$18,515 36.5 %
South Atlantic8,643 16.2 7,340 14.4 
Middle Atlantic6,192 11.6 5,681 11.2 
East North Central3,090 5.8 2,668 5.3 
West South Central5,428 10.2 5,762 11.2 
Mountain2,845 5.3 2,516 5.0 
New England1,205 2.3 1,248 2.5 
West North Central520 1.0 503 1.0 
East South Central1,122 2.1 1,229 2.4 
Subtotal-U.S.47,728 89.5 45,462 89.5 
Europe3,505 6.5 3,498 6.9 
Mexico(2)
913 1.7 430 0.8 
Asia688 1.3 773 1.5 
Other(2)
550 1.0 623 1.3 
Total commercial mortgage and agricultural property loans
$53,384 100.0 %$50,786 100.0 %
106
Table of Contents
__________
(1)Regions as defined by the United States Census Bureau.
(2)Prior period amounts have been updated to conform to current period presentation.
 December 31, 2024December 31, 2023
 Gross
Carrying
Value		% of
Total		Gross
Carrying
Value		% of
Total
 ($ in millions)
Commercial mortgage and agricultural property loans by property type:
Industrial$15,314 28.7 %$13,731 27.1 %
Retail4,547 8.5 4,323 8.5 
Office6,587 12.3 7,059 13.9 
Apartments/Multi-Family15,066 28.2 14,296 28.1 
Agricultural properties6,497 12.2 6,051 11.9 
Hospitality1,603 3.0 1,805 3.6 
Other3,770 7.1 3,521 6.9 
Total commercial mortgage and agricultural property loans
$53,384 100.0 %$50,786 100.0 %

Loan-to-value and debt service coverage ratios are measures commonly used to assess the quality of commercial mortgage and agricultural property loans. The loan-to-value ratio compares the amount of the loan to the fair value of the underlying property collateralizing the loan and is commonly expressed as a percentage. A loan-to-value ratio less than 100% indicates an excess of collateral value over the loan amount. Loan-to-value ratios greater than 100% indicate that the loan amount exceeds the collateral value. The debt service coverage ratio compares a property’s net operating income to its debt service payments. Debt service coverage ratios less than 1.0 times indicate that property operations do not generate enough income to cover the loan’s current debt payments. A debt service coverage ratio greater than 1.0 times indicates an excess of net operating income over the debt service payments.
 
As of December 31, 2024, our commercial mortgage and agricultural property loans had a weighted-average debt service coverage ratio of 2.38 times and a weighted-average loan-to-value ratio of 59%. As of December 31, 2024, 95% of commercial mortgage and agricultural property loans were fixed rate loans. For those commercial mortgage and agricultural property loans that were originated in 2024, the weighted-average debt service coverage ratio was 1.65 times, and the weighted-average loan-to-value ratio was 62%.
 
The values utilized in calculating these loan-to-value ratios are developed as part of our periodic reviews of the commercial mortgage and agricultural property loan portfolio, which include internal evaluations of the underlying collateral values. Our periodic reviews also include a credit quality re-rating process, whereby we update the internal quality ratings originally assigned at underwriting based on the proprietary quality rating system mentioned above. As discussed below, the internal credit quality rating is a key input in determining our allowance for credit losses.
 
For loans with collateral under construction, renovation or lease-up, projected stabilized values and net operating income are used in the calculation of the loan-to-value and debt service coverage ratios. Our commercial mortgage and agricultural property loan portfolio included $1.8 billion and $1.5 billion of such loans as of December 31, 2024 and 2023, respectively. All else being equal, these loans are inherently riskier than those collateralized by properties that have already stabilized. As of December 31, 2024 and 2023, there were less than $1 million and $1 million, respectively, of allowances related to these loans. In addition, these unstabilized loans are included in the calculation of our portfolio reserve, as discussed below.
 
The following table sets forth the gross carrying value of our commercial mortgage and agricultural property loans by loan-to-value and debt service coverage ratios, as of the date indicated:
 
107
Table of Contents
 December 31, 2024
 Debt Service Coverage Ratio
Loan-to-Value Ratio
> 1.2x
1.0x
to
< 1.2x		< 1.0xTotal
Commercial Mortgage and Agricultural Property
Loans
(in millions)
0%-59.99%$25,783 $780 $218 $26,781 
60%-69.99%14,521 727 170 15,418 
70%-79.99%5,517 362 203 6,082 
80% or greater2,889 1,181 1,033 5,103 
Total commercial mortgage and agricultural property loans$48,710 $3,050 $1,624 $53,384 
 
The following table sets forth the breakdown of our commercial mortgage and agricultural property loans by year of origination, as of the date indicated:

 December 31, 2024
Year of OriginationGross
Carrying
Value		% of
Total
($ in millions)
2024
$7,348 13.7 %
2023
5,529 10.4 
20224,493 8.4 
20217,116 13.3 
20203,264 6.1 
20195,797 10.9 
20185,271 9.9 
2017 & Prior
14,424 27.0 
Revolving Loans142 0.3 
Total commercial mortgage and agricultural property loans$53,384 100.0 %

Commercial Mortgage and Other Loans by Contractual Maturity Date
 
The following table sets forth the breakdown of our commercial mortgage and other loans portfolio by contractual maturity, as of the date indicated:
108
Table of Contents
 December 31, 2024
VintageGross
Carrying Value		% of Total
($ in millions)
Maturing in 2025$4,726 8.7 %
Maturing in 20265,408 9.9 
Maturing in 20275,728 10.5 
Maturing in 20288,055 14.8 
Maturing in 20298,160 15.0 
Maturing in 20304,795 8.8 
Maturing in 20314,316 7.9 
Maturing in 20322,903 5.3 
Maturing in 2033
2,076 3.8 
Maturing in 2034
2,102 3.9 
Maturing in 2035
1,339 2.5 
Maturing in 2036 and beyond
4,847 8.9 
Total commercial mortgage and other loans$54,455 100.0 %

Commercial Mortgage and Other Loans Quality
 
The commercial mortgage and other loans portfolio is monitored on an ongoing basis. If certain criteria are met, loans are assigned to either of the following “watch list” categories:

(1) “Closely Monitored,” which includes a variety of considerations, such as when loan metrics fall below acceptable levels, the borrower is not cooperative or has requested a material modification, or the portfolio manager has directed a change in category; or

(2) “Not in Good Standing,” which includes loans in default or with a high probability of loss of principal, such as when the loan is in the process of foreclosure or the borrower is in bankruptcy.

Our workout and special servicing professionals manage the loans on the watch list.

The current expected credit loss (“CECL”) allowance represents the Company’s best estimate of expected credit losses over the remaining life of the assets. The determination of the allowance considers historical credit loss experience, current conditions, and reasonable and supportable forecasts. The allowance is calculated separately for commercial mortgage loans, agricultural mortgage loans, uncollateralized loans, other collateralized loans and residential property loans.

For commercial mortgage and agricultural property loans, the allowance is calculated using an internally developed CECL model.

Key inputs to the CECL model include unpaid principal balances, internal credit ratings, annual expected loss factors, average lives of the loans adjusted for prepayment considerations, current and historical interest rate assumptions and other factors influencing the Company’s view of the current stage of the economic cycle and future economic conditions. Subjective considerations include a review of whether historical loss experience is representative of current market conditions and the Company’s view of the credit cycle. Model assumptions and factors are reviewed and updated as appropriate.

When individual loans no longer have the credit risk characteristics of the commercial or agricultural mortgage loan pools, they are removed from the pools and are evaluated individually for an allowance. The allowance is determined based on the outstanding loan balance less the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent.

The CECL allowance for other collateralized and uncollateralized loans carried at amortized cost is determined based on probability of default and loss given default assumptions by sector, credit quality and average lives of the loans.

The following table sets forth the balance of and change in allowance for credit losses for our commercial mortgage and other loans portfolio, as of and for the years ended:
109
Table of Contents
 
 December 31, 2024December 31, 2023
 (in millions)
Allowance, beginning of year$372 $172 
Addition to (release of) allowance for credit losses 207 227 
Write-downs charged against the allowance
(107)(29)
Other(4)2 
Allowance, end of year
$468 $372 

The allowance for credit losses as of December 31, 2024 increased in comparison to December 31, 2023, primarily related to increases in the loan-specific reserves within agricultural property loans and commercial mortgage loans within the retail and office sectors, along with the establishment of general reserves for both the collateralized and uncollateralized loan portfolios.
 
Equity Securities
 
The equity securities portfolio consists principally of investments in Common and Preferred Stock of publicly-traded companies, as well as mutual fund shares. The following table sets forth the composition of our equity securities portfolio and the associated gross unrealized gains and losses, as of the dates indicated:

 December 31, 2024December 31, 2023
 CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
 (in millions)
Mutual funds
$903 $1,010 $9 $1,904 $932 $697 $11 $1,618 
Other common stocks
4,728 684 122 5,290 3,056 971 43 3,984 
Non-redeemable preferred stocks
43 36 19 60 39 42 19 62 
Total equity securities, at fair value
$5,674 $1,730 $150 $7,254 $4,027 $1,710 $73 $5,664 

The net change in unrealized gains (losses) from equity securities still held at period end, recorded within “Other income (loss),” was $475 million and $336 million during the years ended December 31, 2024 and 2023, respectively.

Other Invested Assets
 
The following table sets forth the composition of “Other invested assets,” as of the dates indicated:
110
Table of Contents
 December 31, 2024December 31, 2023
(in millions)
LPs/LLCs:
Equity method:
Private equity$7,535 $6,821 
Hedge funds2,339 2,440 
Real estate-related(1)1,586 1,445 
Subtotal equity method(1)11,460 10,706 
Fair value:
Private equity728 785 
Hedge funds1,308 1,050 
Real estate-related423 147 
Subtotal fair value2,459 1,982 
Total LPs/LLCs(1)13,919 12,688 
Real estate held through direct ownership(2)1,426 591 
Total alternative assets15,345 13,279 
Credit-like instruments(3)933 0 
Derivative instruments (438)(260)
Other(1)(4)941 915 
Total other invested assets$16,781 $13,934 

The following table presents a reconciliation of “Total alternative assets” included in the table above to the “Total alternative assets of operating businesses”:
December 31, 2024December 31, 2023
(in millions)
Total alternative assets$15,345 $13,279 
Less: Divested Businesses(5)(799)(763)
Less: Interests held by unaffiliated investors(6)(1,209)0 
Total alternative assets of operating businesses$13,337 $12,516 
__________
(1)Prior period amounts have been updated to conform to current period presentation.
(2)As of December 31, 2024 and 2023, real estate held through direct ownership had mortgage debt of $185 million and $158 million, respectively.
(3)Includes structured debt investments in feeder funds that are consolidated, resulting in the Company reporting the consolidated feeder funds’ proportionate share of the net assets of the master fund within Other invested assets.
(4)Primarily includes equity investments accounted for under the measurement alternative, tax advantaged investments, leveraged leases and member and activity stock held in the Federal Home Loan Bank of New York. For additional information regarding our holdings in the Federal Home Loan Bank of New York, see Note 18 to the Consolidated Financial Statements.
(5)As of December 31, 2024 and 2023, interests held by Divested Businesses include private equity of $520 million and $507 million, hedge funds of $117 million and $111 million, real estate related of $156 million and $131 million and real estate held through direct ownership of $6 million and $14 million, respectively.
(6)As of December 31, 2024 and 2023, interests held by unaffiliated investors that have been consolidated into the Statements of Financial Position include real estate held through direct ownership of $741 million and $0 million, hedge funds of $177 million and $0 million and real estate related of $291 million and $0 million, respectively.
 
Invested Assets of Other Entities and Operations
 
“Invested Assets of Other Entities and Operations” presented below includes investments held outside the general account and primarily represents investments associated with our investment management operations and derivative operations. Our derivative operations act on behalf of affiliates primarily to manage interest rate, foreign currency, credit and equity exposures. Assets within our investment management operations that are managed for third parties and those assets classified as “Separate account assets” on our Consolidated Statements of Financial Position are not included.
 
111
Table of Contents
 December 31, 2024December 31, 2023
 (in millions)
Fixed maturities:
Public, available-for-sale, at fair value(1)$368 $557 
Private, available-for-sale, at fair value5 0 
Fixed maturities, trading, at fair value(1) 83 1,005 
Equity securities, at fair value521 608 
Commercial mortgage and other loans, at book value(2)469 519 
Other invested assets2,774 3,401 
Short-term investments13 13 
Total investments$4,233 $6,103 
__________
(1)As of December 31, 2024 and 2023, balances include investments in CLOs with fair value of $224 million and $298 million, respectively.
(2)Book value is generally based on unpaid principal balance, net of any allowance for credit losses, or at fair value when the fair value option has been elected.

Fixed Maturities, Trading

“Fixed maturities, trading, at fair value” are primarily related to assets associated with consolidated variable interest entities (“VIEs”) for which the Company is the investment manager. The assets of the consolidated VIEs are generally offset by liabilities for which the fair value option has been elected. For additional information regarding these consolidated VIEs, see Note 4 to the Consolidated Financial Statements.
 
Commercial Mortgage and Other Loans
 
Our investment management operations include our commercial mortgage operations, which provide mortgage origination, investment management and servicing for our general account, institutional clients, the Federal Housing Administration and government-sponsored entities such as Fannie Mae and Freddie Mac.

The mortgage loans of our commercial mortgage operations are included in “Commercial mortgage and other loans.” Derivatives and other hedging instruments related to our commercial mortgage operations are primarily included in “Other invested assets.”

Other Invested Assets
 
“Other invested assets” primarily include assets of our derivative operations used to manage interest rate, foreign currency, credit, and equity exposures.

Furthermore, other invested assets include strategic investments made as part of our investment management operations. We make these strategic investments in real estate, as well as fixed income, public equity and real estate securities, including controlling interests. Certain of these investments are made primarily for purposes of co-investment in our managed funds and structured products. Other strategic investments are made with the intention to sell or syndicate to investors, including our general account, or for placement in funds and structured products that we offer and manage (seed investments). As part of our investment management operations, we also make loans to our managed funds that are secured by equity commitments from investors or assets of the funds. “Other invested assets” also include certain assets in consolidated investment funds where the Company is deemed to exercise control over the funds.

Valuation of Assets and Liabilities
 
Fair Value of Assets and Liabilities
 
The authoritative guidance related to fair value measurement establishes a framework that includes a three-level hierarchy used to classify the inputs used in measuring fair value. The level in the hierarchy within which the fair value falls is determined based on the lowest level input that is significant to the measurement. The fair values of assets and liabilities classified as Level 3 include at least one significant unobservable input in the measurement. See Note 6 to the Consolidated Financial Statements for an additional description of the valuation hierarchy levels as well as for the balances of assets and liabilities measured at fair value on a recurring basis by hierarchy level presented on a consolidated basis.
 
112
Table of Contents
The table below presents the balances of assets and liabilities measured at fair value on a recurring basis, as of the periods indicated, and the portion of such assets and liabilities that are classified in Level 3 of the valuation hierarchy. The table also provides details about these assets and liabilities excluding those held in the Closed Block division and Funds Withheld portfolios. We believe the amounts excluding the Closed Block division and Funds Withheld are most relevant to an understanding of our operations that are pertinent to investors in Prudential Financial Inc. because (1) substantially all Closed Block division assets support obligations and liabilities relating to the Closed Block policies where the economics inure to those participating policies and not to shareholders of the Company’s common stock and (2) the Funds Withheld assets support liabilities relating to reinsurance agreements where the economic benefits and associated investment risk of the Funds Withheld assets ultimately inure to the reinsurer. See Notes 15 and 16 to the Consolidated Financial Statements for additional information regarding our material reinsurance agreements and the Closed Block, respectively.

 December 31, 2024
 
PFI excluding Closed Block Division and Funds Withheld
Closed Block
Division		Funds Withheld
 Total at
Fair Value		Total
Level 3(1)		Total at
Fair Value		Total
Level 3(1)		Total at
Fair Value		Total
Level 3(1)
 (in millions)
Fixed maturities, available-for-sale
$275,210 $6,712 $28,728 $914 $7,632 $551 
Assets supporting experience-rated contractholder liabilities:
Fixed maturities826 0 0 0 0 0 
Equity securities2,881 0 0 0 0 0 
All other(2)0 0 0 0 0 0 
Subtotal3,707 0 0 0 0 0 
Market risk benefit assets2,331 2,331 0 0 0 0 
Fixed maturities, trading4,151 467 647 15 7,732 1,504 
Equity securities7,776 479 1,641 39 0 0 
Commercial mortgage and other loans
469 0 0 0 233 233 
Other invested assets(3)2,526 952 2 1 25 0 
Short-term investments8,091 383 460 76 44 2 
Cash equivalents10,144 0 346 0 201 0 
Reinsurance recoverables and deposit receivables(75)0 0 0 924 613 
Other assets0 0 0 0 0 0 
Separate account assets166,672 232 0 0 0 0 
Total assets$481,002 $11,556 $31,824 $1,045 $16,791 $2,903 
Market risk benefit liabilities$4,455 $4,455 $0 $0 $0 $0 
Policyholders’ account balances12,746 12,746 0 0 0 0 
Reinsurance and funds withheld payables(27)0 0 0 (91)0 
Other liabilities(3)4,749 1 0 0 2 0 
Notes issued by consolidated variable interest entities (“VIEs”)
60 60 0 0 0 0 
Total liabilities$21,983 $17,262 $0 $0 $(89)$0 

113
Table of Contents
 December 31, 2023
 
PFI excluding Closed Block Division and Funds Withheld
Closed Block
Division		Funds Withheld
 Total at
Fair Value		Total
Level 3(1)		Total at
Fair Value		Total
Level 3(1)		Total at
Fair Value		Total
Level 3(1)
 (in millions)
Fixed maturities, available-for-sale
$279,887 $5,241 $30,486 $868 $5,948 $9 
Assets supporting experience-rated contractholder liabilities:
Fixed maturities889 0 0 0 0 0 
Equity securities2,279 0 0 0 0 0 
All other(2)0 0 0 0 0 0 
Subtotal3,168 0 0 0 0 0 
Market risk benefit assets1,981 1,981 0 0 0 0 
Fixed maturities, trading5,959 409 887 20 2,944 0 
Equity securities6,112 451 1,891 61 0 0 
Commercial mortgage and other loans
519 0 0 0 0 0 
Other invested assets(3)1,949 846 0 0 0 0 
Short-term investments3,714 19 135 10 51 0 
Cash equivalents8,930 4 966 0 406 0 
Reinsurance recoverables and deposit receivables(75)0 0 0 224 224 
Other assets11 11 0 0 0 0 
Separate account assets171,812 1,094 0 0 0 0 
Total assets$483,967 $10,056 $34,365 $959 $9,573 $233 
Market risk benefit liabilities$5,467 $5,467 $0 $0 $0 $0 
Policyholders’ account balances7,752 7,752 0 0 0 0 
Reinsurance and funds withheld payables(24)0 0 0 514 0 
Other liabilities(3)4,174 1 1 0 0 0 
Notes issued by consolidated variable interest entities (“VIEs”)
778 778 0 0 0 0 
Total liabilities$18,147 $13,998 $1 $0 $514 $0 
__________
(1)Level 3 assets expressed as a percentage of total assets measured at fair value on a recurring basis for PFI excluding Closed Block division and Funds Withheld, Closed Block division and Funds Withheld totaled 2.4%, 3.3% and 17.3%, respectively, as of December 31, 2024 and 2.1%, 2.8% and 2.4%, respectively, as of December 31, 2023.
(2)“All other” represents cash equivalents and short-term investments.
(3)“Other invested assets” and “Other liabilities” primarily include derivatives. The amounts include the impact of netting subject to master netting agreements.

The determination of fair value, which for certain assets and liabilities is dependent on the application of estimates and assumptions, can have a significant impact on our results of operations and may require the application of a greater degree of judgment depending on market conditions, as the ability to value assets and liabilities can be significantly impacted by a decrease in market activity or a lack of transactions executed in an orderly manner.
 
Fixed maturity securities included in Level 3 in our fair value hierarchy are generally priced based on internally-developed valuations or indicative broker quotes. For certain private fixed maturity and equity securities, the internal valuation models use significant unobservable inputs and, accordingly, such securities are included in Level 3 in our fair value hierarchy. Level 3 fixed maturity securities for PFI excluding the Closed Block division and Funds Withheld included approximately $1,717 million of public fixed maturities as of December 31, 2024, with values primarily based on indicative broker quotes, and approximately $7,516 million of private fixed maturities, with values primarily based on internally-developed models. Significant unobservable inputs used in their valuation included: issue specific spread adjustments, material non-public financial information, management judgment, estimation of future earnings and cash flows, default rate assumptions, liquidity assumptions and indicative quotes from market makers. Separate account assets included in Level 3 in our fair value hierarchy primarily include corporate securities and commercial mortgage loans.
 
Contracts or contract features reported in “Market risk benefit assets” and “Market risk benefit liabilities” and embedded
114
Table of Contents
derivatives reported in “Policyholders’ account balances” that are included in Level 3 of our fair value hierarchy represent general account assets and liabilities pertaining to living benefit features of the Company’s variable annuity contracts and the index-linked interest credited features on certain life and annuity products. “Market risk benefit assets” and “Market risk benefit liabilities” are carried at fair value with changes in fair value included in “Change in value of market risk benefits, net of related hedging gains (losses)” except for the portion of the change attributable to changes in the Company’s NPR that is recorded in OCI. Embedded derivatives included in “Policyholders’ account balances” are carried at fair value with changes in fair value included in “Realized investment gains (losses), net.” These assets and liabilities are valued using internally-developed models that require significant estimates and assumptions developed by management. Changes in these estimates and assumptions can have a significant impact on the results of our operations.

For additional information regarding the valuation techniques and the key estimates and assumptions used in our determination of fair value, see Note 6 to the Consolidated Financial Statements.
 
Liquidity and Capital Resources

Overview
 
Liquidity refers to the ability to generate sufficient cash resources to meet the payment obligations of the Company. Capital refers to the long-term financial resources available to support the operations of our businesses, fund business growth, and provide a cushion to withstand adverse circumstances. Our ability to generate and maintain sufficient liquidity and capital depends on the profitability of our businesses, general economic conditions and our access to the capital markets and the alternate sources of liquidity and capital described herein.

Effective and prudent liquidity and capital management is a priority across the Company. Management monitors the liquidity of Prudential Financial and its subsidiaries on a daily basis and projects borrowing and capital needs over a multi-year time horizon. We use a Risk Appetite Framework (“RAF”) to ensure that all risks taken across the Company align with our capacity and willingness to take those risks. The RAF provides a dynamic assessment of capital and liquidity stress impacts and is intended to ensure that sufficient resources are available to absorb those impacts. We believe that our capital and liquidity resources are sufficient to satisfy the capital and liquidity requirements of Prudential Financial and its subsidiaries.

Our businesses are subject to comprehensive regulation and supervision by domestic and international regulators. These regulations currently include requirements (many of which are the subject of ongoing rule-making) relating to capital and liquidity management. For information regarding these regulatory initiatives and their potential impact on us, see “Business—Regulation” and “Risk Factors.”

From the beginning of 2024 through the date of this report, we took the following significant actions that have impacted, or are expected to impact, our liquidity and capital positions:

•In March, we issued $1 billion of junior subordinated notes. We intend to use these proceeds for general corporate purposes, which may include the redemption or repurchase of our $1 billion of junior subordinated notes due in 2045.

•In March, we redeemed $500 million of 5.200% junior subordinated notes due in 2044.

•In March, we closed our reinsurance transaction with Somerset Re for a portion of the guaranteed universal life policies issued by Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey, both of which are wholly-owned subsidiaries of Prudential Financial. These reinsured policies represent approximately 30% of the Company’s previously established statutory reserves on its in-force guaranteed universal life block of business. As a result of the transaction, our financing of Guideline AXXX reserves in the form of Credit-Linked Notes Structures has been reduced by $5,040 million from December 31, 2023. See “—Term and Universal Life Reserve Financing” below for additional information.

•In July, we amended and restated our $4.0 billion five-year credit facility, extending the term of the facility to July 2029. See Note 18 to the Consolidated Financial Statements for additional information.

•In September, we refinanced our ¥100 billion five-year credit facility, on which Prudential Holdings of Japan, Inc. (“PHJ”) is a borrower, extending the term of the facility to September 2029. See Note 18 to the Consolidated Financial Statements for additional information.

115
Table of Contents
•In November, we restructured a series of internal captive reinsurance arrangements for a portion of our in-force term life insurance block. We unwound the existing term external financing facilities and entered into a new financing facility with external counterparties to support the financing of Regulation XXX reserves in the form of Credit-Linked Notes Structures. See “—Term and Universal Life Reserve Financing” below for more information.

•In December, we closed our reinsurance transaction with Wilton Re for a portion of guaranteed universal life policies issued by Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey. These policies represent approximately 40% of the Company’s remaining guaranteed universal life block of business, following the March reinsurance agreement with Somerset Re, discussed above. As a result of the transaction, our financing of Guideline AXXX reserves in the form of Credit-Linked Notes Structures has been further reduced by an additional $2,100 million from December 31, 2023. See “—Term and Universal Life Reserve Financing” below for more information.

Capital
 
Our capital management framework is primarily based on statutory Risk-Based Capital (“RBC”) and solvency margin measures. Due to our diverse mix of businesses and applicable regulatory requirements, we apply certain refinements to the framework that are designed to more appropriately reflect risks associated with our businesses on a consistent basis across the Company.
 
We believe Prudential Financial’s capitalization and financial profile are consistent with its ratings targets. Our long-term senior debt rating targets for Prudential Financial are “A” for S&P, Moody’s, and Fitch, and “a” for A.M. Best Company (“A.M. Best”). Our financial strength rating targets for our life insurance companies are “AA/Aa/AA” for S&P, Moody’s and Fitch, respectively, and “A+” for A.M. Best. Some entities may currently be rated below these targets, and not all of our insurance company subsidiaries are rated by each of these rating agencies. See “—Ratings” below for a description of the potential impacts of ratings downgrades.

Capital Governance
 
Our capital management framework is ultimately reviewed and approved by our Board. The Board has authorized our Chairman and Chief Executive Officer and Vice Chair to approve certain capital actions on behalf of the Company and to further delegate authority with respect to capital actions to appropriate officers, up to specified limits. Any capital commitment that exceeds the authority granted to senior management must be separately authorized by the Board.

In addition, our Capital and Finance Committee (“CFC”) reviews the use and allocation of capital above certain threshold amounts to promote the efficient use of capital, consistent with our strategic objectives, ratings aspirations and other goals and targets. This management committee provides a multi-disciplinary due diligence review of specific initiatives or transactions requiring the use of capital, including mergers and acquisitions. The CFC also reviews our annual capital plan (and updates to this plan), as well as our capital, liquidity and financial position, borrowing plans, and related matters prior to the discussion of these items with the Board.
 
Capitalization
 
The primary components of the Company’s capitalization consist of equity and outstanding capital debt, including junior subordinated debt. As shown in the table below, as of December 31, 2024, the Company had $48.4 billion in capital, all of which was available to support the aggregate capital requirements of its businesses and its Corporate and Other operations. Based on our assessment of these businesses and operations, we believe this level of capital is consistent with our ratings targets.
 December 31,
 20242023
 (in millions)
Equity(1)$34,583 $34,324 
Junior subordinated debt (including hybrid securities)7,5888,094
Other capital debt6,2374,869
Total capital$48,408 $47,287 
__________ 
(1)Amounts attributable to Prudential Financial, excluding AOCI.
116
Table of Contents

Insurance Regulatory Capital
 
We manage PICA, The Prudential Life Insurance Company, Ltd. (“Prudential of Japan”), Gibraltar Life, and other significant insurance subsidiaries to regulatory capital levels consistent with our “AA” ratings targets. We utilize the RBC ratio as a primary measure of the capital adequacy of our domestic insurance subsidiaries and the solvency margin ratio as a primary measure of the capital adequacy of our Japanese insurance subsidiaries.

RBC is calculated based on statutory financial statements and risk formulas consistent with the practices of the NAIC. RBC considers, among other things, risks related to the type and quality of the invested assets, insurance related risks associated with an insurer’s products and liabilities, interest rate risks, and general business risks. RBC ratio calculations are intended to assist insurance regulators in measuring an insurer’s solvency and ability to pay future claims. The reporting of RBC measures is not intended for the purpose of ranking any insurance company or for use in connection with any marketing, advertising, or promotional activities, but is available to the public.
 
PICA’s RBC ratio as of December 31, 2023, its most recent statutory fiscal year-end and RBC reporting date, was 435%. PICA’s RBC ratio is calculated on a consolidated basis and included Pruco Life Insurance Company (“Pruco Life”), Pruco Life Insurance Company of New Jersey (“PLNJ”), which is a subsidiary of Pruco Life, and Prudential Legacy Insurance Company of New Jersey (“PLIC”).

Although not yet filed, we expect the RBC ratios for PICA and our other domestic insurance subsidiaries as of December 31, 2024 to continue to be above target levels that would support “AA” financial strength ratings.

Similar to the RBC ratios that are employed by U.S. insurance regulators, regulatory authorities in the international jurisdictions in which we operate generally establish some form of minimum solvency margin requirements for insurance companies based on local statutory accounting practices. These solvency margins are a primary measure of the capital adequacy of our international insurance operations. Maintenance of our solvency margins at certain levels is also important to our competitive positioning, as in certain jurisdictions, such as Japan, these solvency margins are required to be disclosed to the public and therefore impact the public perception of an insurer’s financial strength.

The table below presents the solvency margin ratios of our most significant international insurance subsidiaries as of September 30, 2024, the most recent date for which this information is available.
Ratio
Prudential of Japan consolidated(1)785 %
Gibraltar Life consolidated(2)1,025 %
__________ 
(1)Includes Prudential Trust Co., Ltd., a subsidiary of Prudential of Japan.
(2)Includes Prudential Gibraltar Financial Life Insurance Co., Ltd. (“PGFL”), a subsidiary of Gibraltar Life.

Although not yet filed, we expect the solvency margin ratio for each of these subsidiaries to be greater than 700% (3.5 times the regulatory required minimums) as of December 31, 2024.

All of our domestic and significant international insurance subsidiaries have capital levels that substantially exceed the minimum level required by applicable insurance regulations. The statutory capital of our insurance companies and our overall capital flexibility could be impacted by, among other things, market conditions and changes in insurance reserves, including those stemming from updates to our actuarial assumptions. Our regulatory capital levels also may be affected in the future by changes to the applicable regulations, proposals for which are currently under consideration by both domestic and international insurance regulators. The FSA is developing a new market-based alternative to the solvency margin ratio framework called the Economic Solvency Ratio (“ESR”) that will apply to our Japanese insurance subsidiaries. The ESR will be implemented in 2025 with disclosure under the new framework required in 2026. For information regarding the NAIC’s August 2023 adoption of changes to the treatment of negative interest maintenance reserves, see “Item 1. Business—Regulation.” For additional information regarding the calculation of RBC and solvency margin ratios, as well as regulatory minimums, see Note 20 to the Consolidated Financial Statements.

Captive Reinsurance Companies
 
We use captive reinsurance companies to more effectively manage our reserves and capital on an economic basis and to enable the aggregation and transfer of risks. Our captive reinsurance companies assume business from affiliates only. To
117
Table of Contents
support the risks they assume, our captives are capitalized to a level we believe is consistent with the “AA” financial strength rating targets of our insurance subsidiaries. All of our captives are subject to internal policies governing their activities. In the normal course of business, we contribute capital to the captives to support business growth and other needs. Prudential Financial has also entered into support agreements with several of the captives in connection with financing arrangements. For a description of captive reinsurance company financing activities, see below under “—Financing Activities—Subsidiary Borrowings—Term and Universal Life Reserve Financing.”

Shareholder Distributions

Share Repurchase Program and Shareholder Dividends
 
In December 2023, Prudential Financial’s Board of Directors authorized the Company to repurchase, at management’s discretion, up to an aggregate of $1.0 billion of its outstanding Common Stock during the period from January 1, 2024 through December 31, 2024. We utilized the entirety of this $1.0 billion share repurchase authorization in 2024. In December 2024, the Board authorized the Company to repurchase, at management’s discretion, up to $1.0 billion of its outstanding Common Stock during the period from January 1, 2025 through December 31, 2025.

In general, the timing and amount of share repurchases are determined by management based on market conditions and other considerations, including compliance with applicable laws and any increased capital needs of our businesses due to, among other things, credit migration and losses in our investment portfolio, changes in regulatory capital requirements and opportunities for growth and acquisitions. Repurchases may be executed in the open market, through derivative, accelerated repurchase and other negotiated transactions and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.
 
The following table sets forth information about declarations of Common Stock dividends, as well as repurchases of shares of Prudential Financial’s Common Stock, for each of the quarterly periods in 2024 and for the prior four years:
 
 Dividend AmountShares Repurchased
Quarterly Period Ended:
Per ShareAggregateSharesTotal Cost
 (in millions, except per share data)
December 31, 2024$1.30 $470 2.0 $250 
September 30, 2024$1.30 $471 2.1 $250 
June 30, 2024$1.30 $475 2.2 $250 
March 31, 2024$1.30 $476 2.3 $250 
 
 Dividend AmountShares Repurchased
Year Ended:
Per ShareAggregateSharesTotal Cost
 (in millions, except per share data)
December 31, 2024$5.20 $1,892 8.6 $1,000 
December 31, 2023$5.00 $1,850 10.9 $1,000 
December 31, 2022$4.80 $1,822 14.5 $1,500 
December 31, 2021$4.60 $1,821 24.5 $2,500 
December 31, 2020$4.40 $1,769 6.7 $500 
 
In addition, on February 4, 2025, Prudential Financial’s Board of Directors declared a cash dividend of $1.35 per share of Common Stock, payable on March 13, 2025 to shareholders of record as of February 18, 2025.

Liquidity

Liquidity management and stress testing are performed on a legal entity basis as the ability to transfer funds between subsidiaries is limited due in part to regulatory restrictions. Liquidity needs are determined through daily and quarterly cash flow forecasting at the holding company and within our operating subsidiaries. We seek to maintain a minimum balance of highly liquid assets to ensure that adequate liquidity is available at Prudential Financial to cover fixed expenses in the event that we experience reduced cash flows from our operating subsidiaries at a time when access to capital markets is also not available.

118
Table of Contents
We seek to mitigate the risk of having limited or no access to financing due to stressed market conditions by generally pre-funding debt in advance of maturity. We mitigate the refinancing risk associated with our debt that is used to fund operating needs by matching the term of debt with the assets financed. To ensure adequate liquidity in stress scenarios, stress testing is performed for our major operating subsidiaries. We seek to further mitigate liquidity risk by maintaining our access to alternative sources of liquidity, as discussed below.

Liquidity of Prudential Financial
 
The principal sources of funds available to Prudential Financial, the parent holding company, are dividends, returns of capital and loans from subsidiaries, and proceeds from debt issuances and certain stock-based compensation activity. These sources of funds may be supplemented by Prudential Financial’s access to the capital markets as well as the “—Alternative Sources of Liquidity” described below.
 
The primary uses of funds at Prudential Financial include servicing debt, making capital contributions and loans to subsidiaries, making acquisitions, paying declared shareholder dividends and repurchasing outstanding shares of Common Stock executed under authority from the Board.
 
As of December 31, 2024, Prudential Financial had highly liquid assets with a carrying value totaling $6,264 million, an increase of $1,694 million from December 31, 2023. Highly liquid assets predominantly include cash, short-term investments, U.S. Treasury securities, obligations of other U.S. government authorities and agencies, and/or foreign government bonds. We maintain an intercompany liquidity account that is designed to optimize the use of cash by facilitating the lending and borrowing of funds between Prudential Financial and its subsidiaries on a daily basis. Excluding the net borrowings from this intercompany liquidity account, Prudential Financial had highly liquid assets of $4,641 million as of December 31, 2024, an increase of $546 million from December 31, 2023.
 
The following table sets forth Prudential Financial’s principal sources and uses of highly liquid assets, excluding net borrowings from our intercompany liquidity account, for the periods indicated:

Year Ended December 31,
 20242023
 (in millions)
Highly Liquid Assets, beginning of period$4,095 $4,535 
Dividends and/or returns of capital from subsidiaries(1)3,332 4,636 
Affiliated loans/(borrowings) - (capital activities)(2)
702 604 
Capital contributions to subsidiaries(3)
(384)(1,651)
Total Business Capital Activity3,650 3,589 
Share repurchases(4)
(1,000)(1,012)
Common Stock dividends(5)
(1,891)(1,846)
Total Share Repurchases, Dividends and Business Disposition Activity
(2,891)(2,858)
Proceeds from the issuance of debt(6)
1,124 495 
Repayments of debt(512)(1,514)
Total Debt Activity612 (1,019)
Net interest expense
(831)(880)
Affiliated (borrowings)/loans - (operating activities)(7)
(887)726 
Other, net(8)
893 2 
Total Other Activity(825)(152)
Net increase (decrease) in highly liquid assets546 (440)
Highly Liquid Assets, end of period$4,641 $4,095 
__________
(1)2024 includes $1,550 million from PICA, $800 million from a holding company, funded by one of our captive insurance subsidiaries, inclusive of proceeds associated with the reinsurance of a portion of the Company’s guaranteed universal life policies, $585 million from international insurance subsidiaries, $336 million from other subsidiaries, and $61 million from PGIM subsidiaries. 2023 includes $3,100 million from PICA, $900 million from a rabbi trust, $548 million from international insurance subsidiaries (including $332 million in the form of in-kind dividends), $66 million from PGIM subsidiaries, $18 million from Prudential Annuities Holding Company, and $4 million from other subsidiaries.
(2)Represents loans to and from subsidiaries made for capital management purposes. 2024 includes $502 million from international insurance subsidiaries, and $200 million from captive reinsurance subsidiaries. 2023 includes $604 million from insurance subsidiaries.
119
Table of Contents
(3)2024 includes capital contributions of $240 million to international insurance subsidiaries, $90 million to PGIM subsidiaries (which is completely offset in “Affiliated (borrowings)/loans - (operating activities)” within this table), and $54 million to other subsidiaries. 2023 includes capital contributions of $829 million to PGIM subsidiaries (of which $401 million is offset in “Affiliated (borrowings)/loans - (operating activities)” within this table), $705 million to international insurance subsidiaries and $117 million to other subsidiaries.
(4)Excludes cash payments made on trades that settled in the subsequent period.
(5)Includes cash payments made on dividends declared in prior periods.
(6)2024 includes $135 million of proceeds from the issuance of the retail medium-term notes that were used exclusively to purchase funding agreements from PICA.
(7)Represents loans to and from affiliated subsidiaries to support business operating needs.
(8)2024 includes $343 million from proceeds from stock-based compensation and exercises of stock options, $102 million from internal affiliated settlements and $448 million from net income tax receipts. 2023 includes $267 million of proceeds from stock-based compensation and exercises of stock options, $246 million from internal affiliated settlements and $(554) million for net income tax payments.

Dividends and Returns of Capital from Subsidiaries
 
Domestic insurance subsidiaries. During 2024, Prudential Financial received dividends of $1,550 million from PICA. In addition to paying Common Stock dividends, our domestic insurance operations may return capital to Prudential Financial by other means, such as affiliated lending, and reinsurance with Bermuda-based affiliates. In the second quarter of 2024, a domestic captive insurance subsidiary entered into an affiliated loan with a holding company to facilitate a return of capital of $800 million, which included proceeds from the reinsurance of a portion of the Company’s guaranteed universal life policies.
    
International insurance subsidiaries. During 2024, Prudential Financial received dividends of $585 million from its international insurance subsidiaries. In addition to paying Common Stock dividends, our international insurance operations may return capital to Prudential Financial by other means, such as the repayment of Preferred Stock obligations held by Prudential Financial or other affiliates, affiliated lending, affiliated derivatives and reinsurance with U.S.- and Bermuda-based affiliates.

Other subsidiaries. During 2024, Prudential Financial received dividends of $336 million from other subsidiaries and $61 million from PGIM subsidiaries.
Restriction on dividends and returns of capital from subsidiaries. Our insurance companies are subject to limitations on the payment of dividends and other transfers of funds to Prudential Financial and other affiliates under applicable insurance law and regulation. Further, market conditions could negatively impact capital positions of our insurance companies, which could further restrict their ability to pay dividends. More generally, the payment of dividends by any of our subsidiaries is subject to declaration by their Board of Directors and can be affected by market conditions and other factors.
 
With respect to our domestic insurance subsidiaries, PICA is permitted to pay ordinary dividends based on calculations specified under New Jersey insurance law, subject to prior notification to the New Jersey Department of Banking and Insurance (“NJDOBI”). Any distributions above this amount in any twelve-month period are considered to be “extraordinary” dividends, and the approval of the NJDOBI is required prior to payment. The laws regulating dividends of the states where our other domestic insurance companies are domiciled are similar, but not identical, to those of New Jersey.

Capital redeployment from our international insurance subsidiaries is subject to local regulatory requirements in the international jurisdictions in which they operate. Our most significant international insurance subsidiaries, Prudential of Japan and Gibraltar Life, are permitted to pay Common Stock dividends based on calculations specified by Japanese law. Dividends in excess of these amounts and other forms of capital distribution may require the prior approval of the FSA. The regulatory fiscal year end for both Prudential of Japan and Gibraltar Life is March 31, 2025, after which time the Common Stock dividend amount permitted to be paid without prior approval from the FSA can be determined.

The ability of our PGIM subsidiaries and the majority of our other operating subsidiaries to pay dividends is largely unrestricted from a regulatory standpoint.

See Note 20 to the Consolidated Financial Statements for information regarding specific dividend restrictions.

Liquidity of Insurance Subsidiaries
 
We manage the liquidity of our insurance operations to ensure stable, reliable and cost-effective sources of cash flows to meet all of our obligations. Liquidity within each of our insurance subsidiaries is provided by a variety of sources, including portfolios of liquid assets. The investment portfolios of our subsidiaries are integral to the overall liquidity of our insurance operations. We segment our investment portfolios and employ an asset/liability management approach specific to the requirements of each of our product lines. This enhances the discipline applied in managing the liquidity, as well as the interest rate and credit risk profiles, of each portfolio in a manner consistent with the unique characteristics of the product liabilities.
120
Table of Contents
 
Liquidity is measured against internally-developed benchmarks that take into account the characteristics of both the asset portfolio and the liabilities that they support. We consider attributes of the various categories of liquid assets (for example, type of asset and credit quality) in calculating internal liquidity measures to evaluate our insurance operations’ liquidity under various stress scenarios, including company-specific and market-wide events. We continue to believe that cash generated by ongoing operations and the profile of our assets provide sufficient liquidity under reasonably foreseeable stress scenarios for each of our insurance subsidiaries.
 
Cash Flow
 
The principal sources of liquidity for our insurance subsidiaries are premiums, investment and fee income, investment maturities, sales of investments, and sales associated with our insurance and annuity operations, as well as internal and external borrowings. The principal uses of liquidity include benefits, claims and dividends paid to policyholders, and payments to policyholders and contractholders in connection with surrenders, withdrawals and net policy loan activity. Other uses of liquidity may include commissions, general and administrative expenses, purchases of investments, the payment of dividends to the parent holding company, hedging and reinsurance activity and payments in connection with financing activities.
 
In each of our major insurance subsidiaries, we believe that the cash flows from operations are adequate to satisfy current liquidity requirements. The continued adequacy of this liquidity will depend upon factors such as future securities market conditions, changes in interest rate levels, policyholder perceptions of our financial strength, policyholder behavior, catastrophic events and the relative safety and attractiveness of competing products, each of which could lead to reduced cash inflows or increased cash outflows. Our insurance operations’ cash flows from investment activities result from repayments of principal, proceeds from maturities and sales of invested assets and investment income, net of amounts reinvested. The primary liquidity risks with respect to these cash flows are the risk of default by debtors or bond insurers, our counterparties’ willingness to extend repurchase and/or securities lending arrangements, commitments to invest and market volatility. We closely manage these risks through our credit risk management process and regular monitoring of our liquidity position.
 
Domestic insurance operations. In managing the liquidity of our domestic insurance operations, we consider the risk of policyholder and contractholder withdrawals of funds earlier than our assumptions when selecting assets to support these contractual obligations. We use surrender charges and other contract provisions to mitigate the extent, timing and profitability impact of withdrawals of funds by customers. The following table sets forth the liabilities for market risk benefits, future policy benefits and policyholders’ account balances of certain of our domestic insurance subsidiaries as of the dates indicated:
 
 December 31,
 20242023
 (in billions)
PICA$234.6 $226.7 
PLIC46.2 47.4 
Pruco Life96.3 78.8 
Other(1)(83.1)(84.9)
Total market risk benefits, future policy benefits and policyholders’ account balances(2)(3)
$294.0 $268.0 
__________
(1)Includes the impact of intercompany eliminations.
(2)Amounts are reflected gross of affiliated reinsurance recoverables.
(3)See Note 13 to the Consolidated Financial Statements for information regarding cash surrender values associated with policyholders’ account balances.
 
The liabilities presented above are primarily supported by invested assets in our general account. As noted above, when selecting assets to support these contractual obligations, we consider the risk of policyholder and contractholder withdrawals of funds earlier than our assumptions. As a result, assets will include both liquid assets, as discussed below, and other assets that we believe adequately support our liabilities.
 
121
Table of Contents
For PICA and other subsidiaries, the liabilities presented above primarily include annuity reserves and deposit liabilities and individual life insurance policy reserves. Individual life insurance policies may impose surrender charges and policyholders may be subject to a new underwriting process in order to obtain a new insurance policy. PICA’s reserves for group annuity contracts primarily relate to pension risk transfer contracts, which are generally not subject to early withdrawal. For our individual annuity contracts, to encourage persistency, most of our variable and fixed annuities have surrender or withdrawal charges for a specified number of years. In addition, certain fixed annuities impose a market value adjustment if the invested amount is not held to maturity. The living benefit features of our variable annuities also encourage persistency because the potential value of the living benefit is fully realized only if the contract persists.
 
Gross account withdrawals for our domestic insurance operations’ products in 2024 were generally consistent with our assumptions in asset/liability management, and the associated cash outflows did not have a material adverse impact on our overall liquidity.
 
International insurance operations. As with our domestic operations, in managing the liquidity of our international insurance operations, we consider the risk of policyholder and contractholder withdrawals of funds earlier than our assumptions in selecting assets to support these contractual obligations. The following table sets forth the liabilities for market risk benefits, future policy benefits and policyholders’ account balances of certain of our international insurance subsidiaries as of the dates indicated:
 
 December 31,
 20242023
 (in billions)
Prudential of Japan(1)$58.7 $63.8 
Gibraltar Life(2)96.0 106.2 
Other international insurance subsidiaries, excluding Japan2.5 3.5 
Other(3)(13.9)(17.7)
Total market risk benefits, future policy benefits and policyholders’ account balances(4)(5)
$143.3 $155.8 
__________
(1)As of December 31, 2024 and 2023, $20.3 billion and $21.0 billion, respectively, of the insurance-related liabilities for Prudential of Japan are associated with USD-denominated products that are coinsured to our domestic insurance operations and supported by USD-denominated assets. As of December 31, 2024 and 2023, $4.8 billion and $4.0 billion, respectively, of the insurance-related liabilities for Prudential of Japan are primarily associated with yen- and USD-denominated products that are coinsured to Gibraltar Re, a Bermuda-based reinsurance affiliate, and primarily supported by yen- and USD-denominated assets.
(2)As of December 31, 2024 and 2023, $6.5 billion and $6.7 billion, respectively, of the insurance-related liabilities for Gibraltar Life (including PGFL) are associated with U.S. dollar-denominated products that are coinsured to our domestic insurance operations and supported by USD-denominated assets. As of December 31, 2024 and 2023, $25.1 billion and $17.3 billion, respectively, of the insurance-related liabilities for Gibraltar Life (including PGFL) are primarily associated with yen- and USD-denominated products that are coinsured to Gibraltar Re and primarily supported by yen- and USD-denominated assets.
(3)Reflects the impact of intercompany eliminations.
(4)Amounts are reflected gross of affiliated reinsurance recoverables.
(5)See Note 13 to the Consolidated Financial Statements for information regarding cash surrender values associated with policyholders’ account balances.

The liabilities presented above are primarily supported by invested assets in our general account. When selecting assets to support these contractual obligations, we consider the risk of policyholder and contractholder withdrawals of funds earlier than our assumptions. As a result, assets will include both liquid assets, as discussed below, and other assets that we believe adequately support our liabilities.
 
We believe most of the longer-term recurring pay individual life insurance policies sold by our Japanese operations do not have significant withdrawal risk because policyholders may incur surrender charges and must undergo a new underwriting process to obtain a new insurance policy.
 
Prudential of Japan and Gibraltar Life sell USD-denominated investment contracts with a market value adjustment feature to mitigate the profitability impact for surrenders, as these contracts may be subject to increased surrenders should the yen depreciate or if interest rates in the U.S. decline relative to Japan. As of December 31, 2024, products with a market value adjustment feature represented $35.6 billion of our Japan operations’ insurance-related liabilities.

Liquid Assets
 
Liquid assets include cash and cash equivalents, short-term investments, U.S. Treasury securities, fixed maturities that are not designated as held-to-maturity and public equity securities. In addition to access to substantial investment portfolios, our
122
Table of Contents
insurance companies’ liquidity is managed through access to a variety of instruments available for funding and/or managing cash flow mismatches, including from time to time those arising from claim levels in excess of projections. Our ability to utilize assets and liquidity between our subsidiaries is limited by regulatory and other constraints. We believe that ongoing operations and the liquidity profile of our assets provide sufficient liquidity under reasonably foreseeable stress scenarios for each of our insurance subsidiaries.
 
The following table sets forth the fair value of certain of our domestic insurance operations’ portfolio of liquid assets, as of the dates indicated.
 
 December 31, 2024
 Prudential
Insurance(1)		PLICPruco LifeTotalDecember 31, 2023
 (in billions)
Cash and short-term investments$7.7 $1.0 $3.8 $12.5 $10.8 
Fixed maturity investments(2):
High or highest quality117.9 26.1 36.3 180.3 163.6 
Other than high or highest quality7.4 2.3 2.4 12.1 12.6 
Subtotal125.3 28.4 38.7 192.4 176.2 
Public equity securities, at fair value1.2 1.6 2.6 5.4 4.1 
Total$134.2 $31.0 $45.1 $210.3 $191.1 
__________
(1)Represents legal entity view and as such includes both domestic and international activity.
(2)Excludes fixed maturities designated as held-to-maturity. Credit quality is based on NAIC or equivalent rating.

The following table sets forth the fair value of our international insurance operations’ portfolio of liquid assets, as of the dates indicated.
 
 December 31, 2024 
 Prudential
of Japan		Gibraltar
Life(1)		All
Other(2)		TotalDecember 31, 2023
 (in billions)
Cash and short-term investments$0.8 $3.9 $2.7 $7.4 $6.7 
Fixed maturity investments(3):
High or highest quality(4)26.9 50.0 25.7 102.6 111.8 
Other than high or highest quality0.4 0.5 2.7 3.6 4.2 
Subtotal27.3 50.5 28.4 106.2 116.0 
Public equity securities3.1 0.8 0.3 4.2 3.9 
Total$31.2 $55.2 $31.4 $117.8 $126.6 
__________
(1)Includes PGFL.
(2)Represents our international insurance operations, excluding Japan.
(3)Excludes fixed maturities designated as held-to-maturity. Credit quality is based on NAIC or equivalent rating.
(4)As of December 31, 2024, $63.1 billion, or 61%, were invested in government or government agency bonds.

Given the size and liquidity profile of our investment portfolios, we believe that claim experience, including policyholder withdrawals and surrenders, varying from our projections does not constitute a significant liquidity risk. Our ALM process takes into account the expected maturity of investments and expected claim payments as well as the specific nature and risk profile of the liabilities. To the extent we need to pay claims in excess of projections, we may borrow temporarily or sell investments sooner than anticipated to pay these claims, which may result in increased borrowing costs or realized investment gains or losses, including from changes in interest rates or credit spreads. The payment of claims and sale of investments earlier than anticipated would have an impact on the reported level of cash flow from operating, investing, and financing activities, in our financial statements. Historically, there has been no significant variation between the expected maturities of our investments and the payment of claims.

Liquidity associated with other activities
 
Hedging activities associated with Individual Retirement Strategies
123
Table of Contents
 
For the portion of our Individual Retirement Strategies’ ALM strategy executed through hedging, we enter into a range of exchange-traded, cleared and other OTC equity and interest rate derivatives in order to hedge certain capital market risks related to more severe market conditions. For a full discussion of our Individual Retirement Strategies’ risk management strategy, see “—Results of Operations by Segment—U.S. Businesses—Retirement Strategies.” This portion of our Individual Retirement Strategies’ ALM strategy requires access to liquidity to meet payment obligations relating to these derivatives, such as payments for periodic settlements, purchases, maturities and terminations. These liquidity needs can vary materially due to, among other items, changes in interest rates, equity markets, mortality and policyholder behavior.
 
The hedging portion of our Individual Retirement Strategies’ ALM strategy may also result in derivative related collateral postings to (when we are in a net post position) or from (when we are in a net receive position) counterparties. The net collateral position depends on changes in interest rates and equity markets related to the amount of the exposures hedged. Depending on market conditions, the collateral posting requirements can result in material liquidity needs when we are in a net post position.

Foreign exchange hedging activities
 
We employ various hedging strategies to manage potential exposure to foreign currency exchange rate movements, particularly those associated with the yen. Our overall yen hedging strategy calibrates the hedge level to preserve the relative contribution of our yen-based business to the Company’s overall return on equity on a leverage neutral basis.

We hold both internal and external hedges primarily to hedge our USD-equivalent equity. These hedges also mitigate volatility in the solvency margins of yen-based subsidiaries resulting from changes in the market value of their USD-denominated investments hedging our USD-equivalent equity attributable to changes in the yen-USD exchange rate.
 
For additional information regarding our hedging strategy, see “—Results of Operations—Impact of Foreign Currency Exchange Rates.”
 
Cash settlements from these hedging activities result in cash flows between subsidiaries of Prudential Financial and either international-based subsidiaries or external parties. The cash flows are dependent on changes in foreign currency exchange rates and the notional amount of the exposures hedged. For example, a significant yen depreciation over an extended period of time could result in net cash inflows, while a significant yen appreciation could result in net cash outflows. The following tables set forth information about net cash settlements and the net asset or liability resulting from these hedging activities related to the yen and other currencies for the periods indicated.
 
 
Year Ended December 31,
Cash Settlements Received (Paid):
20242023
 (in millions)
Internal Hedges(1)$740 $1,176 
External Hedges(2)
(162)(525)
Total Cash Settlements$578 $