Prudential Reports Strong Q3 Results with Investment Gains

Prudential Financial, Inc. announced strong third-quarter results, showcasing positive performances in its global investment, insurance, and retirement businesses. Net income rose to $448 million for the third quarter of 2024, significantly recovering from a net loss of $802 million in the same quarter of 2023. The company reported robust sales across U.S. and international markets, and its investment arm, PGIM, also experienced increased asset management fees and net inflows. Prudential noted ongoing strategic shifts in its business mix, including a substantial Guaranteed Universal Life reinsurance transaction worth $11 billion. The company's efforts to diversify products and enhance distribution capabilities position it well for sustained long-term value creation for stakeholders, aiming to improve customers' lives globally.