What does retirement — separate account liabilities mean?

This represents the liabilities associated with assets held in separate accounts, where the investment risk is primarily borne by the policyholder rather than the company. These accounts are typical for variable annuities and certain retirement products. The size of these liabilities is a direct reflection of the scale of the company's fee-based retirement business.

Prudential Financial PRU Retirement — Separate account liabilities

Other segment segments

Individual Life

$52.64B+15.0%

Corporate and Other

-$4.02B-9.3%

Similar metrics at other companies

CRBGGroup Retirement — Separate account liabilities

$38.52B+3.0%

LNCRetirement Plan Services — Separate account liabilities

2,203,100,000,000%+132,300,000,000pp

LNCSeparate account liabilities

$172.04B+5.9%

VOYARetirement Deferred Group and Individual Annuity — Liabilities related to separate accounts

$104.06B+9.5%

PFGSegment Retirement And Income Solutions — Separate Accounts Liability

$137.83B+6.3%

VOYASeparate account liabilities

$108.47B+9.6%

Other financials

Income statement

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Revenue$15.5B+15.3%

Net income$597.0M-15.6%

EPS (diluted)$1.68-14.3%

Balance sheet

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Cash & equivalents$15.9B-0.8%

Total debt$18.9B-3.4%

Total equity$32.0B+7.0%

Total assets$765.40B+3.5%

Cash flow

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Operating cash flow$1.0B+140%

Valuation

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Market cap$37.6B-0.1%

Enterprise value$40.54B+2.3%

P/E10.9×-11.4×

P/S0.6×0.0×

Profitability

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Net margin5.5%+1.6pp

Returns & leverage

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Return on equity11.2%+3.0pp

Debt / equity0.6×-0.1×

Where this comes from

Reported directly by Prudential Financial in its filing.

Tagged under the XBRL concept us-gaap:SeparateAccountsLiability.

The official record: Prudential Financial’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Prudential Financial's retirement — separate account liabilities?: Prudential Financial (PRU) reported retirement — separate account liabilities of $11.68B in Q1 2026.
What does retirement — separate account liabilities mean?: This represents the liabilities associated with assets held in separate accounts, where the investment risk is primarily borne by the policyholder rather than the company. These accounts are typical for variable annuities and certain retirement products. The size of these liabilities is a direct reflection of the scale of the company's fee-based retirement business.