PRU · 8-K · 20260804PR000170

U.S. Legacy Products Run-off

PRUDENTIAL FINANCIAL INC · 2026-08-04 · Importance 46 · Surprise 56 · From source text

U.S. Legacy Products adjusted operating income fell to $234 million from $351 million, excluding a $49 million unfavorable comparable impact from annual assumption updates and refinements. The underlying decline reflected less favorable underwriting in the guaranteed universal-life block and lower net fee income as traditional variable annuities continued to run off. Net legacy annuity account values decreased 7% to $76 billion from $81.9 billion, driven by net outflows partly offset by market appreciation. The segment was established January 1, 2026, to separately report discontinued annuity and guaranteed-universal-life blocks.

Key facts

U.S. Legacy Products reported adjusted operating income of $234 million in the quarter, down from $351 million in the year-ago quarter. source
Effective January 1, 2026, Prudential established the U.S. Legacy Products reporting segment consisting of traditional variable annuities with guaranteed living benefit riders and certain other annuities and guaranteed universal life policies. source

Impact estimates

metric	direction	stage	expected	basis
operating_income	negative	realized	-0.8%	U.S. Legacy Products reported adjusted operating income of $234 million in the quarter, down from $351 million in the year-ago quarter.