Prudential annuities

Overview

Prudential Financial is a Newark, New Jersey, public company (NYSE: PRU) whose U.S. annuities are issued mainly by Pruco Life Insurance Company, with New York contracts issued by Pruco Life Insurance Company of New Jersey; some contracts are issued by The Prudential Insurance Company of America. The Prudential of America group ranked #13 among U.S. groups by 2024 individual annuity direct premiums written, according to NAIC market share data, with about $11.97 billion in premiums and a 2.84% market share. Its life insurance business, history and life ratings are covered in our Prudential profile.

Prudential sells annuities through financial professionals: advisers at broker-dealers, banks and independent firms, and its own Prudential Advisors. There is no direct online purchase. Prudential calls its FlexGuard registered index-linked annuity, introduced in 2020, its flagship retail annuity line; the lineup also includes variable, fixed indexed, fixed and income annuities. Prudential is also a large buyer of corporate pension obligations through pension risk transfer: when your pension becomes an annuity, a group business separate from the individual products below.

Annuities it sells

Prudential's annuity prospectus page lists these current products:

• Registered index-linked annuities. FlexGuard 2.0, launched December 15, 2025, is the second generation of FlexGuard, which Prudential introduced in May 2020. Prudential says the new version adds a flexible allocation feature, expanded buffer options and a broader set of index and exchange-traded fund strategies, with no contract fee. FlexGuard Income 2.0 adds a lifetime income benefit. A RILA limits losses with a buffer or floor, but you can still lose money if index losses exceed the protection you chose, and index credits generally require holding a strategy for its full term.
• Variable annuities. Prudential Premier Investment Variable Annuity (B and C series) and Prudential MyRock Advisor Variable Annuity. Values rise and fall with the funds you choose; see variable annuities: how they work, what they cost, who they suit and annuity fees, explained for the layers of charges these contracts carry.
• Fixed indexed annuities. PruSecure (including an Advisor version), SurePath and SurePath Income, and Elevate Income and Elevate Accumulator Income. These protect principal from index losses but limit gains with caps or other terms; see fixed indexed annuities: caps, participation rates and trade-offs.
• Fixed and multi-year guaranteed annuities. Prudential WealthGuard is a MYGA. Prudential Fixed with Daily Advantage Income (and an Income Select version) is a fixed annuity built around guaranteed lifetime income. Prudential says withdrawals from its fixed and RILA products may be subject to surrender charges and a market value adjustment.
• Income and contingent annuities. The Prudential Immediate Income Annuity turns a lump sum into payments right away; see Single premium immediate annuities (SPIAs): how they work. Prudential ActiveIncome is a contingent deferred annuity offered in versions tied to managed-account programs at LPL, Dimensional and Franklin Templeton, which adds a lifetime income guarantee to investments held outside an insurance contract.

Product availability varies by state and by the firm your adviser works for. Older contracts sold under names such as Premier Retirement, Discovery, Strategic Partners and Defined Income remain in force; their prospectuses are on the same page.

Ownership and reinsurance

Prudential is a shareholder-owned stock insurance company that demutualized in 2001. It has moved large blocks of older annuity business off its books. In 2022 it sold its legacy variable annuity company, now Fortitude Life Insurance & Annuity Company (FLIAC), to Fortitude Re; those contracts have a separate service line (800-879-7012). If you own one, your contract terms did not change, but the insurer standing behind it did; see when your life insurance policy is sold to another company.

In September 2023 Prudential and Warburg Pincus launched Prismic Life Reinsurance, a Bermuda life and annuity reinsurer in which Prudential took a 20% stake. Its first deal was a block of structured settlement annuities with about $10 billion of reserves; Prudential said it remains responsible to those annuity holders and keeps administering the contracts. See Offshore reinsurance and Bermuda: why it matters to policyholders.

Prudential's Japanese life companies, which Fitch says account for about 40% of its earnings, have faced a sales suspension over employee misconduct; on October 9, 2026 Japan's regulator ordered new sales halted through January 31, 2027. This does not affect U.S. annuity contracts directly, but it has drawn rating agency attention.

Financial strength

As of August 4, 2026, Prudential's investor site lists financial strength ratings for Pruco Life and The Prudential Insurance Company of America of A+ (Superior) from AM Best, AA- (Very Strong) from S&P Global, Aa3 from Moody's and AA- (Very Strong) from Fitch. In May 2026 Fitch placed all of Prudential's ratings, including the AA- financial strength ratings of its main U.S. life insurers, on Rating Watch Negative because of the Japan sales misconduct, saying resolution could take more than six months.

These are among the stronger ratings of the large annuity writers, though below the top mutuals. If an insurer fails, state guaranty associations protect annuity values up to set limits; check yours with the state guaranty association coverage lookup.

Who it suits

Prudential suits investors who work with an adviser and want a RILA or variable annuity with optional lifetime income, or who prefer a large, highly rated public company for a fixed indexed annuity or MYGA. RILAs and variable annuities expose you to market losses beyond any buffer and carry fees that are hard to compare, so they fit people with a long horizon and an adviser who will explain the prospectus. People who want a simple product bought directly, or who want to avoid market risk entirely, may find a MYGA or immediate annuity, from Prudential or elsewhere, easier to evaluate. Review best interest rules for annuity sales before you buy.

• Strengths: AA- and Aa3 ratings (August 2026); a full range from RILAs and variable annuities to MYGAs, fixed indexed and immediate annuities; New York company; long experience with lifetime income guarantees.
• Weaknesses: Sold only through financial professionals; complex RILA and variable products with multiple charges; Fitch Rating Watch Negative since May 2026; legacy variable annuities now owned by Fortitude Re rather than Prudential.

How to contact Prudential