Prudential’s Institutional Retirement Strategies’ 2024 Sales Estimated to Surge +186% YoY

Prudential Financial (NYSE: PRU) is poised for a substantial revenue boost in 2024, driven by the expanding retirement market. Based on Visible Alpha consensus, Prudential’s total operating revenue in 2024 is projected to increase by +25% year over year, recovering from a -15% decline experienced last year. This growth is expected to come mainly from large pension risk transfer transactions in the company’s premium revenue segment, particularly from the institutional retirement strategies division.

Premium revenue, which makes up ~57% of Prudential’s total revenue, is forecasted to grow by +43% year over year in 2024. Within the premium revenue segment, the institutional retirement strategies segment is anticipated to see the most significant revenue jump of +186% year over year, reaching $18.2 billion. This segment is expected to account for 29% of the company’s total operating revenue in 2024, up from 13% last year.