Prudential Financial has posted attributable net income of $597m for the first quarter of 2026 (Q1 2026), down 15.6% from $707m in the same period a year earlier.
Net income attributable to Prudential was $1.68 per common share, versus $1.96 per share in Q1 2025.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
After-tax adjusted operating income increased by 7.6% to $1.28bn from $1.19bn a year earlier.
The company’s US businesses, covering retirement, group insurance, individual life and US legacy products, recorded adjusted operating income of $956m in the quarter, up 3% from $931m a year earlier.
Prudential said the rise was mainly due to stronger net investment spread results, partly offset by increased expenses across those businesses.
International Businesses posted adjusted operating income of $810m, a decline of 4% from $848m in the year-ago quarter.
The company said the decline was largely linked to higher costs tied to the Prudential of Japan sales suspension, partly offset by stronger net investment spread results and improved underwriting, mainly from new business growth in Brazil, which delivered a record earnings quarter.
Assets under management stood at $1.57tn, compared with $1.52tn in Q1 2025.
Capital returned to shareholders came to $746m, including $250m of share buybacks and $496m of dividends, versus $736m a year earlier.
In January, Prudential Financial’s Japanese life insurance arm revealed that around 100 former and current employees had improperly taken roughly Y3.1bn ($19.5m) from customers.
An independent compensation committee has been examining the extent of the losses.
Prudential Financial prolonged the voluntary halt on new business at its Japan unit by a further 180 days, moving the expected end of the suspension to November 2026.
Asked about the earnings effect of the suspension, Prudential told Life Insurance International that the total impact on 2026 pre-tax adjusted operating income will be around $525m–575m, “reflecting both the initial 90-day suspension and 180-day suspension”.
