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This statistic highlights Prudential Financials’ Assets Under Management (AUM), from Q1 2018 onwards, split across U.S. business, international business, PGIM, and Corporate and other, reported on a quarterly basis.
Their core business operation consists of Corporate and other which comprises of items and initiatives that are not allocated into their business will be divested, except for the closed block, this close block comprises of those assets and liabilities that are reported separately from divested and run-off businesses. International businesses develop and distribute retirement products, life insurance, and certain accident and health products with fixed benefits to the mass through their Life Planner operations in Japan, Brazil, Mexico, and Argentina. PGIM – that is providing global investment management business. US Business also provides retirement investment products and services.
|Asset Categories||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Corporate and other||$0.00||$7.70||$40.60||2%|
(All the values are in billions, except percentages)
In spite, the overall net worth of assets under the management of Prudential Financials has decreased on a quarter-on-quarter basis by $3.4 billion, falling from $1,730 million in Q2 2021 to $1,726.6 million in Q3 2021. Though it can be observed that on a year-on-year basis the business has been recovering from COVID as it shows an increase of 4.76%, growing from $1,648.1 billion in Q3 2020 to $1,726.6 billion in Q3 2021, with the highest recovery of corporate business, but the highest asset is managed by the PGIM department.
This department had been developing and distributing income products and retirement investments and services. COVID has affected a lot of people’s savings and retirement funds that got exhausted, overall affecting the asset’s net worth. This entire department has shown a downfall by almost 17% and 19% under the year-on-year and quarter-on-quarter metrics, from $192.3 billion in Q3 2020 to $160 billion in Q3 2021 and from $197.7 billion in Q2 2021 to $160 billion in Q3 2021, respectively. It consists of 9% of the assets managed by the company.
Asset managed for the return of life insurance protection products, retirement products, annuity products, and accidental and health products in Q3 2021 is worth $12.10 billion, which has decreased by $1.1 billion, falling by 8.33% under the quarter-on-quarter growth index. On a year-on-year basis, there is a decrease as well of $0.1 billion or 4.72%. The asset managed under international business is worth only 1% of the total assets managed by the company.
PGIM contributes the most to the total asset managed by the company with 88%. The PGIM department is showing positive growth under both indexes, which are year-on-year and quarter-on-quarter growth, with a growth of 4.91% and 0.17%, respectively. The department has been increasing with its investment management services and solution related to public equity, public fixed income, private credit, real estate debt, equity, and other alternatives.
Corporate and other
Asset value grew by $32.9 billion, from $7.70 billion in Q2 2021 to $40.60 billion in Q3 2021, indicating a of 427% on a quarter-on-quarter basis. This department contributed $40.6 million in Q3 2021, constituting about 2% of the total assets managed by the company.
Prudential Financial, Inc. is a financial leader in global investment management with approximately $1.721 trillion of assets under management as of December 31, 2021, and has its operations in Asia, the United States, Latin America, and Europe. They provide a variety of financial products and services, including annuities, life insurance, retirement-related products and services, mutual funds, and investment management. These services and products are offered to individuals and institutional customers through proprietary and third-party distribution networks. On 1 December 2001, PICA converted itself 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 Inc.
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