Prudential Financial’s Revenue Breakdown (2016-2022)

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This statistic highlights Prudential Financial’s Revenue Breakdown from Q1 2016 onwards, split across Premiums, Net investment income, Policy charges and Fee income, Asset management, and Services fees, Realized investment gain (loss) and Other income (loss).
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This statistic highlights Prudential Financial’s Revenue Breakdown from Q1 2016 onwards, split across Premiums, Net investment income, Policy charges and Fee income, Asset management, and Services fees, Realized investment gain (loss) and Other income (loss).

Prudential Financial’s Revenue Breakdown

The following table shows the company’s revenue breakdown as follows:

Segment Q4 2020 Q3 2021 Q4 2021 Contribution in Q4 2021
Premiums $8,301 $13,193 $7,312 44.52%
Net investment income $4,576 $4,717 $4,636 28.23%
Policy charges and fee income $1,553 $1,570 $1,484 9.03%
Asset management and service fees $1,247 $1,229 $1,298 7.90%
Realized investment gain (loss), net ($1,723) $432 $878 5.35%
Other income (loss) $2,075 $500 $816 4.97%
Total $16,029 $21,641 $16,424 100.00%

(All figures in millions, except percentages)

The revenue of the company can be bifurcated & analyzed into the following heads:

Premiums

Premiums associated with individual life products (other than variable life and universal contracts), long-term care products, and health insurance are recognized when they become due. If the premiums get due over a quite shorter period than the usual time frame over which benefits are given, any gross premium in surplus of the net premium is typically deferred and is recognized as revenue with the relation to insurance in force.

A significant portion of about 44.52% of the total revenue earned by the company in Q4 2021 came from this segment. Revenue from this category decreased from $13,193 million earned in Q3 2021 to $7,312 million earned in Q4 2021, marking a decline of about 44.6% on a quarter-on-quarter basis. It also decreased by 11.9% compared to $8,301 million earned in Q4 2020.

Net investment income

Interest and dividend income for investments supporting the experience-rated products are reported under the head net investment income. Apart from that, income from assets like fixed maturities, equity securities, cash equivalents, short-term investments, commercial mortgages, and other loans also form a part of Net investment income. The gross investment income is reduced by investment expenses to arrive at net investment income.

This category held about 28.23% of the company’s total revenue earned in Q4 2021. Revenue from this category decreased slightly from $4,717 million earned in Q3 2021 to $4,636 million earned in Q4 2021, marking a fall of about 1.7% on a quarter-on-quarter basis. However, it increased slightly by 1.3% compared to $4,576 million earned in Q4 2020.

Policy charges and fee income

Policy charges and fee income primarily include mortality and other benefit charges, surrender charges, and policy administration charges. These fees are assessed over the period against the “Policyholders’ account balances” and/or “Separate account liabilities” contracts.

Revenue from this category marked a downward trajectory of about 5.5% on a quarter-on-quarter basis, amounting from $1,570 million earned in Q3 2021 to $1,484 million earned in Q4 2021. It also decreased by 4.4% as compared to $1,553 million earned in Q4 2020. This category retained about 9.03% of the total revenue earned by the company in Q4 2021.

Asset management and service fees

Asset management fees primarily include asset-based asset management fees, which are typically recognized at the time under which the services are performed. In addition under some of the asset management contracts, the company receives performance-based incentive fees when the return against the managed assets surpasses certain benchmark returns or other performance targets.

Revenue from this category observed a slight upward inclination of 5.6% on a quarter-on-quarter basis, specifically stated as $1,229 million earned in Q3 2021 to $1,298 million earned in Q4 2021. It also increased by 4.1% compared to $1,247 earned in Q4 2020. This category retained about 7.9% of the total revenue earned by the company in Q4 2021.

Realized investment gain (loss), net 

Realized investment gains (losses), net comprises realized earnings or losses arising primarily from sales and maturities of investments, derivative gains or losses, changes to the allowance for credit losses, other impairments, and fair value differences on mortgage loans where the option for fair value has been selected.

Revenue from this head marked a tremendous increase of about 103.2% on a quarter-on-quarter basis, specifically stated as $432 million earned in Q3 2021 to $878 million earned in Q4 2021. It highly grew by about 151% compared to the $(1,723) million loss observed in Q4 2020.

Other incomes (loss)

This head comprises realized and unrealized earnings or losses arising from investments categorized as “Assets backing experience-rated contract holder liabilities”, “Equity securities” “Fixed maturities” and “Other invested assets”. In addition, it also contains earnings and losses associated with the remeasurement of foreign currency denominated assets and liabilities.

Revenue from this category increased from $500 million earned in Q3 2021 to $816 million earned in Q4 2021, marking an upward inclination of approximately 63.2% on a quarter-on-quarter basis. However, it decreased highly by 60.7% compared to $2,075 million earned in Q4 2020.

About the Company

Prudential Financial Inc. is a Fortune Global 500 company and is a renowned financial services provider and global investment manager with approximately $1.742 trillion of assets under management as of December 31, 2021. Its principal executive offices are located in Newark, New Jersey, and operate in the United States, Europe, Asia, and Latin America. The company delivers financial products and services like life insurance, retirement-related products and services, and investment management. It offers these products and services to customers through proprietary and third-party distribution networks. The company’s common stock is publicly traded on the New York Stock Exchange under the ticker symbol “PRU”.

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