Prudential Financial, Inc. (NYSE:PRU) Q1 2022 Results Conference Call May 4, 2022 11:00 AM ET Company Participants Charlie Lowrey - Chairman & Chief Executive Officer Rob Falzon - Vice Chairman Andy Sullivan - Head of U.S. Businesses Scott Sleyster - Head of International Businesses Ken Tanji - Chief Financial Officer Rob Axel - Controller & Principal Accounting Officer Bob McLaughlin - Head of Investor Relations Conference Call Participants Erik Bass - Autonomous Research Tom Gallagher - Evercore Suneet Ka ...

Prudential Financial, Inc. (NYSE:PRU) Q4 2021 Earnings Conference Call February 4, 2022 11:00 AM ET Company Participants Bob McLaughlin - Head of Investor Relations Charles Lowrey - Chairman & Chief Executive Officer Robert Falzon - Vice Chairman Kenneth Tanji - Chief Financial Officer Andrew Sullivan - Head of US Businesses Scott Sleyster - Head of International Businesses Rob Axel - Controller & Principal Accounting Officer Conference Call Participants Ryan Krueger - KBW Elyse Greenspan - Wells Fargo Erik ...

Summary of Prudential Financial, Inc. Conference Call Company Overview - **Company**: Prudential Financial, Inc. (NYSE: PRU) - **Date**: December 8, 2021 - **Participants**: Charlie Lowrey (Chairman & CEO), Alexander Scott (Goldman Sachs) Key Points Transformation Strategy - **Objective**: To become a higher growth, less market-sensitive, and more nimble company [4][11] - **Focus Areas**: 1. **Performance Consistency**: Beat consensus EPS estimates in 8 out of the last 9 quarters [5] 2. **Transformation Execution**: Three pillars: - **Product Pivots**: Discontinued sales of variable annuities with living benefits; launched FlexGuard with over $6 billion in sales [5][6] - **Cost Savings**: Achieved $590 million in run rate savings, ahead of the $750 million target by 2023 [6][12] - **Business Mix Change**: Aiming to redeploy $5 billion to $10 billion of capital and increase growth businesses to 30% of earnings [6][8] Financial Performance - **Capital Deployment**: Over $6 billion in proceeds towards the $5 billion to $10 billion target; includes sales of insurance businesses in Korea and Taiwan [8][10] - **Shareholder Returns**: Returned $3.5 billion to shareholders through dividends and buybacks; 13 consecutive years of dividend increases with a 17% CAGR [10] Annuities and Risk Management - **Legacy Annuities Reduction**: Goal to reduce earnings from legacy annuities to 10% of total earnings; achieved through organic runoff and sales [16] - **Transaction with Fortitude Re**: Expected to significantly contribute to the reduction of legacy annuities [16] Growth Initiatives - **Organic Growth**: Continued investment in PGIM and emerging markets; completed a $5 billion pension risk transfer transaction [20][21] - **Assurance IQ**: Anticipated strong revenue growth during the annual enrollment season; positioned well in the Medicare Advantage market [25] Market Conditions and Challenges - **Mortality Trends**: Elevated mortality levels due to COVID-19, particularly affecting younger demographics and frontline workers [30] - **Japan Operations**: Strong cash flows and active engagement with regulators regarding solvency regime changes expected in 2025 [23][36] ESG Initiatives - **Environmental Goals**: Commitment to net zero by 2050 and carbon neutrality by 2040 [41] - **Social Responsibility**: $1 billion impact investing portfolio and significant community engagement [42] Future Outlook - **Opportunities and Challenges**: Focus on both organic and inorganic growth; cautious approach to acquisitions based on shareholder value [45][46] - **Cash Flow Management**: Targeting 65% of earnings as free cash flow, net of capital invested in growth [34] Additional Insights - **Product Development**: Ongoing refinement of products on Assurance IQ platform, including simplified life insurance [48] - **Market Positioning**: Positioned at the intersection of asset management and insurance, shedding risk while investing in growth [39] This summary encapsulates the key discussions and insights from the Prudential Financial conference call, highlighting the company's strategic direction, financial performance, and market challenges.

Prudential Financial, Inc. (NYSE:PRU) Q3 2021 Earnings Conference Call November 3, 2021 11:00 AM ET Company Participants Bob McLaughlin - Head of Investor Relations Charlie Lowrey - Chairman & Chief Executive Officer Rob Falzon - Vice Chairman Ken Tanji - Chief Financial Officer Andy Sullivan - Head of US Businesses Scott Sleyster - Head of International Businesses Rob Axel - Controller & Principal Accounting Officer Conference Call Participants Erik Bass - Autonomous Research Ryan Krueger - KBW Humphrey Le ...