Prudential Financial plans to exit approximately half of its international markets. The company will concentrate operations on the U.S., Japan, and select European regions.
Management is redirecting over $3 billion in capital toward core businesses. This funding supports PGIM asset management and U.S. retirement and insurance operations to accelerate earnings growth.
Prudential increased its annual run-rate cost-savings target to $750 million. The company expects to achieve these benefits by the end of 2028.
Second-quarter adjusted operating income rose 14% year-over-year. Total adjusted operating income reached $1.4 billion. Earnings hit $4.08 per share, exceeding analyst expectations.