01—Abstract
Summary
Summary of the 8-K filed April 14, 2026. Cited figures are marked; the original filing is the authoritative source.
Prudential Financial, Inc. (PRU) furnished this Form 8-K under Item 7.01 to disclose preliminary, unaudited information for the quarter ended March 31, 2026, ahead of its quarterly earnings release and financial supplement scheduled for May 5, 2026, and to announce segment reporting changes effective January 1, 2026.
The company reported PGIM assets under management of $1.43 trilliona as of March 31, 2026, and estimated PGIM other related revenues, net of related expenses, of approximately $35 million on an adjusted operating income basis for the quarter. It also estimated that alternative investment income of the General Account (excluding the Closed Block Division and Funds Withheld portfolios) for the quarter will be approximately $75 to $95 million below the company's near-term expectations. The company cautioned that these figures are estimated, unaudited, and subject to completion of financial closing procedures, so actual results could differ materially.
The resegmentation, applied retrospectively, creates a new "U.S. Legacy Products" segment combining traditional variable annuities with guaranteed living benefit riders, certain other annuity products, and Guaranteed Universal Life policies, all run-off blocks no longer sold in the U.S. A new "Retirement" segment combines the remaining Individual Retirement Strategies blocks (primarily registered index-linked and fixed annuities) with the former Institutional Retirement Strategies products. Individual Life now primarily consists of term, indexed universal life, and variable universal life.
The company states the changes do not affect previously issued consolidated financial statements. Exhibit 99.1 is a revised fourth quarter 2025 Quarterly Financial Supplement reflecting these changes, furnished and not filed.
02—Key points
Key Highlights
- Preliminary Q1 2026 PGIM assets under management of $1.43 trillion as of March 31, 2026.
- PGIM other related revenues, net of related expenses, estimated at approximately $35 million on an adjusted operating income basis for Q1 2026.
- General Account alternative investment income for Q1 2026 estimated at approximately $75 to $95 million below the company's near-term expectations.
- Preliminary figures are unaudited, and financial closing procedures for Q1 2026 were not yet complete, so actual results could differ materially.
- Formal Q1 2026 earnings release and quarterly financial supplement are scheduled for May 5, 2026.
- New "U.S. Legacy Products" segment combines discontinued variable annuities with guaranteed living benefit riders and Guaranteed Universal Life policies, managed for run-off.
- New "Retirement" segment combines remaining Individual Retirement Strategies blocks with Institutional Retirement Strategies products; the changes are applied retrospectively with no restatement of previously issued consolidated financial statements.
03—Questions
Frequently Asked Questions
What preliminary first-quarter 2026 results did Prudential disclose?
Prudential disclosed PGIM assets under management of $1.43 trillion as of March 31, 2026, PGIM other related revenues, net of related expenses, of approximately $35 million on an adjusted operating income basis, and General Account alternative investment income estimated at approximately $75 to $95 million below the company's near-term expectations.
Are these preliminary figures final?
No. The company states the preliminary information is estimated and unaudited, that financial closing procedures for the quarter are not complete, and that actual results could be materially different.
When will Prudential release complete first-quarter 2026 results?
The company's quarterly earnings release and quarterly financial supplement for the period are scheduled for release on May 5, 2026.
What segment reporting changes did Prudential make?
Effective January 1, 2026, Prudential created a new U.S. Legacy Products segment for run-off products and a new Retirement segment combining remaining Individual Retirement Strategies blocks with Institutional Retirement Strategies products. Individual Life now primarily consists of term, indexed universal life, and variable universal life. The changes are applied retrospectively and do not affect previously issued consolidated financial statements.
Do the segment changes affect previously reported financial statements?
No. The company states the segment reporting changes are applied retrospectively and do not have an impact on any of its previously issued Consolidated Financial Statements. Exhibit 99.1 provides a revised fourth quarter 2025 Quarterly Financial Supplement reflecting the new segments.
04—Continue