Exhibit 99.1

Prudential Financial, Inc. (PRU)

Quarterly Financial Supplement

FINANCIAL SERVICES BUSINESSES

FIRST QUARTER 2010

Reference is made to Prudential Financial, Inc.’s filings with the Securities and Exchange Commission for general information, and consolidated financial information, regarding Prudential Financial, Inc., including its Closed Block Business. All financial information in this document is unaudited.

May 5, 2010

i

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

CONTENTS

	Page
HIGHLIGHTS
Financial Highlights	1-3
Operations Highlights	4
FINANCIAL SERVICES BUSINESSES
Combined Statements of Operations	5
Combined Balance Sheets	6
Combining Statements of Operations by Division	7
Combining Balance Sheets by Division	8
Short-Term and Long-Term Debt	9
U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION
Combined Statements of Operations	10
Combining Statements of Operations	11
Individual Annuities Sales Results and Account Values	12
Individual Annuities Account Value Activity	13
Individual Annuities Living Benefit Features	14
Individual Annuities Death Benefit Features	15
Retirement Segment Sales Results and Account Values	16
Supplementary Revenue And Assets Under Management Information for Asset Management Segment	17
Supplementary Assets Under Management and Assets Under Administration Information for Asset Management Segment	18
U.S. INDIVIDUAL LIFE AND GROUP INSURANCE DIVISION
Combined Statements of Operations	19
Combining Statements of Operations	20
Individual Life Annualized New Business Premiums, Account Value Activity, and Face Amount in Force	21
Supplementary Information for Individual Life Insurance	22
Supplementary Information for Group Insurance	23
DEFERRED POLICY ACQUISITION COSTS & DEFERRED SALES INDUCEMENTS - INDIVIDUAL ANNUITIES, INDIVIDUAL LIFE AND GROUP INSURANCE	24
INTERNATIONAL INSURANCE AND INVESTMENTS DIVISION
Combined Statements of Operations	25
Combining Statements of Operations	26
International Insurance Segment - Supplementary Income Statement Information	27
Sales Results and Supplementary Information	28-29
INVESTMENT PORTFOLIO
Investment Portfolio Composition	30
Financial Services Businesses Investment Portfolio Composition - Japanese Insurance Operations and Excluding Japanese Insurance Operations	31
Financial Services Businesses Investment Results	32
Financial Services Businesses Investment Results - Japanese Insurance Operations	33
Financial Services Businesses Investment Results - Excluding Japanese Insurance Operations	34
RECLASSIFIED STATEMENTS OF OPERATION	35-40
KEY DEFINITIONS AND FORMULAS	41-43
RATINGS AND INVESTOR INFORMATION	44

ii

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

This quarterly financial supplement reflects, for all periods presented, the classification of the results for the company’s Korean asset management operations as discontinued operations as a result of an agreement to sell these operations.

iii

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

FINANCIAL HIGHLIGHTS

(in millions, except per share data)

Year-to-date				%		2009								2010
2010		2009		Change		1Q		2Q		3Q		4Q		1Q
					Financial Services Businesses:
					Pre-tax adjusted operating income (loss) by division:
514		175		194%	U.S. Retirement Solutions and Investment Management Division	175		564		314		215		514
144		133		8%	U.S. Individual Life and Group Insurance Division	133		243		307		210		144
496		432		15%	International Insurance and Investments Division	432		476		507		455		496
(202	)	(175	)	-15%	Corporate and other operations	(175	)	(168	)	(207	)	(205	)	(202	)
952		565		68%	Total pre-tax adjusted operating income	565		1,115		921		675		952
253		138		83%	Income taxes, applicable to adjusted operating income	138		306		198		185		253
699		427		64%	Financial Services Businesses after-tax adjusted operating income	427		809		723		490		699
					Reconciling items:
(84	)	(663	)	87%	Realized investment gains (losses), net, and related charges and adjustments	(663	)	(868	)	(226	)	44		(84	)
252		145		74%	Investment gains on trading account assets supporting insurance liabilities, net	145		686		694		76		252
(320	)	(45	)	-611%	Change in experience-rated contractholder liabilities due to asset value changes	(45	)	(347	)	(458	)	(49	)	(320	)
(7	)	(32	)	78%	Divested businesses	(32	)	(24	)	25		2,162		(7	)
(36	)	3		-1300%	Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests	3		14		(92	)	(2,289	)	(36	)
(195	)	(592	)	67%	Total reconciling items, before income taxes	(592	)	(539	)	(57	)	(56	)	(195	)
2		(151	)	101%	Income taxes, not applicable to adjusted operating income	(151	)	(258	)	(343	)	64		2
(197	)	(441	)	55%	Total reconciling items, after income taxes	(441	)	(281	)	286		(120	)	(197	)
502		(14	)	3686%	Income (loss) from continuing operations (after-tax) of Financial Services Businesses before equity in earnings of operating joint ventures	(14	)	528		1,009		370		502
36		5		620%	Equity in earnings of operating joint ventures, net of taxes and earnings attributable to noncontrolling interests	5		(12	)	81		1,483		36
538		(9	)	6078%	Income (loss) from continuing operations attributable to Prudential Financial, Inc.	(9	)	516		1,090		1,853		538
(26	)	(11	)	-136%	Earnings attributable to noncontrolling interests	(11	)	17		(50	)	10		(26	)
512		(20	)	2660%	Income (loss) from continuing operations (after-tax) of Financial Services Businesses	(20	)	533		1,040		1,863		512
(2	)	4		-150%	Income (loss) from discontinued operations, net of taxes	4		22		—		(65	)	(2	)
510		(16	)	3288%	Net income (loss) of Financial Services Businesses	(16	)	555		1,040		1,798		510
(26	)	(11	)	-136%	Less: Income (loss) attributable to noncontrolling interests	(11	)	17		(50	)	10		(26	)
536		(5	)	10820%	Net income (loss) of Financial Services Businesses attributable to Prudential Financial, Inc.	(5	)	538		1,090		1,788		536
11.04%		8.71%			Operating Return on Average Equity (based on adjusted operating income)	8.71%		15.33%		12.68%		8.09%		11.04%
					Reconciliation to Consolidated Net Income Attributable to Prudential Financial, Inc:
536		(5	)		Net income (loss) of Financial Services Businesses attributable to Prudential Financial, Inc. (above)	(5	)	538		1,090		1,788		536
161		19			Net income (loss) of Closed Block Business attributable to Prudential Financial, Inc.	19		(375	)	(8	)	77		161
697		14			Consolidated net income attributable to Prudential Financial, Inc.	14		163		1,082		1,865		697

Page 1

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

FINANCIAL HIGHLIGHTS

(in millions, except per share data)

Year-to-date					2009								2010
2010		2009			1Q		2Q		3Q		4Q		1Q
				Earnings per share of Common Stock (diluted):
1.49		1.03		Financial Services Businesses after-tax adjusted operating income	1.03		1.87		1.57		1.06		1.49
				Reconciling items:
(0.18	)	(1.57	)	Realized investment gains (losses), net, and related charges and adjustments	(1.57	)	(2.00	)	(0.49	)	0.09		(0.18	)
0.53		0.34		Investment gains on trading account assets supporting insurance liabilities, net	0.34		1.58		1.49		0.16		0.53
(0.68	)	(0.11	)	Change in experience-rated contractholder liabilities due to asset value changes	(0.11	)	(0.80	)	(0.99	)	(0.10	)	(0.68	)
(0.01	)	(0.08	)	Divested businesses	(0.08	)	(0.06	)	0.05		4.60		(0.01	)
—		0.01		Difference in earnings allocated to participating unvested share-based payment awards	0.01		0.01		—		(0.03	)	—
(0.34	)	(1.41	)	Total reconciling items, before income taxes	(1.41	)	(1.27	)	0.06		4.72		(0.34	)
(0.01	)	(0.38	)	Income taxes, not applicable to adjusted operating income	(0.38	)	(0.60	)	(0.72	)	1.86		(0.01	)
(0.33	)	(1.03	)	Total reconciling items, after income taxes	(1.03	)	(0.67	)	0.78		2.86		(0.33	)
1.16		—		Income from continuing operations (after-tax) of Financial Services Businesses attributable to Prudential Financial, Inc.	—		1.20		2.35		3.92		1.16
(0.01	)	0.01		Income (loss) from discontinued operations, net of taxes	0.01		0.05		—		(0.14	)	(0.01	)
1.15		0.01		Net income of Financial Services Businesses attributable to Prudential Financial, Inc.	0.01		1.25		2.35		3.78		1.15
463.0		422.1		Weighted average number of outstanding Common shares (basic)	422.1		432.9		461.2		461.8		463.0
471.5		423.2		Weighted average number of outstanding Common shares (diluted)	423.2		434.3		464.6		470.3		471.5
10		11		Direct equity adjustments for earnings per share calculation	11		11		12		9		10
4		—		Earnings related to interest, net of tax, on exchangeable surplus notes	—		—		1		4		4
				Earnings allocated to participating unvested share-based payment awards for earnings per share calculation
9		4		Financial Services Businesses after-tax adjusted operating income	4		10		8		6		9
7		—		Income from continuing operations (after-tax) of Financial Services Businesses	—		6		12		21		7

Page 2

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

FINANCIAL HIGHLIGHTS

(in millions, except per share data)

Year-to-date			2009				2010
2010	2009		1Q	2Q	3Q	4Q	1Q
		Financial Services Businesses Capitalization Data (1):
		Senior Debt:
		Short-term debt	6,651	3,643	2,182	3,122	3,066
		Long-term debt	17,394	17,713	19,491	17,769	18,373
		Junior Subordinated Long-Term Debt	1,518	1,518	1,518	1,518	1,518
		Attributed Equity:
		Including accumulated other comprehensive income	14,349	18,681	23,239	24,154	25,721
		Excluding accumulated other comprehensive income related to unrealized gains and losses on investments and pension / postretirement benefits	20,337	22,452	23,919	25,399	25,961
		Excluding total accumulated other comprehensive income	20,238	22,194	23,338	24,728	25,318
		Total Capitalization:
		Including accumulated other comprehensive income	33,261	37,912	44,248	43,441	45,612
		Excluding accumulated other comprehensive income related to unrealized gains and losses on investments and pension / postretirement benefits	39,249	41,683	44,928	44,686	45,852
		Excluding total accumulated other comprehensive income	39,150	41,425	44,347	44,015	45,209
		Book value per share of Common Stock:
		Including accumulated other comprehensive income	33.83	40.20	49.71	51.52	54.63
		Excluding accumulated other comprehensive income related to unrealized gains and losses on investments and pension / postretirement benefits	47.95	48.32	51.16	54.18	55.14
		Excluding total accumulated other comprehensive income	47.72	47.76	49.92	52.75	53.78
		Number of diluted shares at end of period (2)	424.1	464.7	467.5	468.8	470.8
		Common Stock Price Range (based on closing price):
60.50	35.11	High	35.11	46.00	54.63	52.82	60.50
47.02	11.29	Low	11.29	20.50	33.28	44.64	47.02
60.50	19.02	Close	19.02	37.22	49.91	49.76	60.50
		Common Stock market capitalization (1)	8,042	17,139	23,024	22,995	28,048

(1) As of end of period.

(2) Number of diluted shares at end of period excludes the impact of exchangeable surplus notes due to the anti-dilutive impact of conversion at $98.78 per share.

Page 3

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

OPERATIONS HIGHLIGHTS

Year-to-date			2009				2010
2010	2009		1Q	2Q	3Q	4Q	1Q
		Assets Under Management and Administration ($ billions) (1) (2):
		Assets Under Management:
		Managed by U.S. Retirement Solutions and Investment Management Division:
		Asset Management Segment - Investment Management & Advisory Services
		Institutional customers	152.7	163.5	179.9	188.4	193.3
		Retail customers	61.3	70.3	79.1	84.4	89.0
		General account	172.3	175.6	184.9	184.0	189.8
		Total Investment Management and Advisory Services	386.3	409.4	443.9	456.8	472.1
		Non-proprietary assets under management	75.1	89.3	109.4	122.3	126.8
		Total managed by U.S. Retirement Solutions and Investment Management Division	461.4	498.7	553.3	579.1	598.9
		Managed by U.S. Individual Life and Group Insurance Division	11.9	11.2	12.1	12.4	13.1
		Managed by International Insurance and Investments Division	68.4	69.7	75.5	75.8	81.3
		Total assets under management	541.7	579.6	640.9	667.3	693.3
		Client assets under administration	98.8	106.7	116.3	119.5	99.9
		Total assets under management and administration	640.5	686.3	757.2	786.8	793.2
		Assets managed or administered for customers outside of the United States at end of period	110.4	115.2	127.0	130.0	137.6
		Distribution Representatives (1):
		Prudential Agents	2,389	2,421	2,453	2,447	2,499
		International Life Planners	6,397	6,375	6,484	6,609	6,649
		Gibraltar Life Advisors	6,170	6,376	6,060	6,398	5,971
43	41	Prudential Agent productivity ($ thousands)	41	49	58	56	43

(1) As of end of period.

(2) At fair market value.

Page 4

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

COMBINED STATEMENTS OF OPERATIONS - FINANCIAL SERVICES BUSINESSES

(in millions)

Year-to-date				% Change		2009								2010
2010		2009				1Q		2Q		3Q		4Q		1Q
					Revenues (1):
3,531		3,261		8%	Premiums	3,261		3,320		3,361		3,352		3,531
860		734		17%	Policy charges and fee income	734		766		693		840		860
2,075		2,058		1%	Net investment income	2,058		2,049		2,051		2,055		2,075
889		1,914		-54%	Asset management fees, commissions and other income	1,914		167		462		509		889
7,355		7,967		-8%	Total revenues	7,967		6,302		6,567		6,756		7,355
					Benefits and Expenses (1):
3,431		3,464		-1%	Insurance and annuity benefits	3,464		2,928		3,115		3,202		3,431
883		1,086		-19%	Interest credited to policyholders’ account balances	1,086		725		831		818		883
251		247		2%	Interest expense	247		238		229		241		251
(717	)	(578	)	-24%	Deferral of acquisition costs	(578	)	(641	)	(782	)	(768	)	(717	)
414		1,205		-66%	Amortization of acquisition costs	1,205		(70	)	102		285		414
2,141		1,978		8%	General and administrative expenses	1,978		2,007		2,151		2,303		2,141
6,403		7,402		-13%	Total benefits and expenses	7,402		5,187		5,646		6,081		6,403
952		565		68%	Adjusted operating income before income taxes	565		1,115		921		675		952
					Reconciling items:
(55	)	(707	)	92%	Realized investment gains (losses), net, and related adjustments	(707	)	(863	)	(175	)	120		(55	)
(29	)	44		-166%	Related charges	44		(5	)	(51	)	(76	)	(29	)
(84	)	(663	)	87%	Total realized investment gains (losses), net, and related charges and adjustments	(663	)	(868	)	(226	)	44		(84	)
252		145		74%	Investment gains on trading account assets supporting insurance liabilities, net	145		686		694		76		252
(320	)	(45	)	-611%	Change in experience-rated contractholder liabilities due to asset value changes	(45	)	(347	)	(458	)	(49	)	(320	)
(7	)	(32	)	78%	Divested businesses	(32	)	(24	)	25		2,162		(7	)
(36	)	3		-1300%	Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests	3		14		(92	)	(2,289	)	(36	)
(195	)	(592	)	67%	Total reconciling items, before income taxes	(592	)	(539	)	(57	)	(56	)	(195	)
757		(27	)	2904%	Income (loss) from continuing operations before income taxes and equity in earnings of operating joint ventures	(27	)	576		864		619		757
255		(13	)	2062%	Income tax expense (benefit)	(13	)	48		(145	)	249		255
502		(14	)	3686%	Income (loss) from continuing operations before equity in earnings of operating joint ventures	(14	)	528		1,009		370		502

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments; investment gains, net of losses, on trading account assets supporting insurance liabilities, and revenues of divested businesses, and include revenues representing equity in earnings of operating joint ventures other than those classified as divested businesses. Benefits and expenses exclude charges related to realized investment gains, net of losses; change in experience-rated contractholder liabilities due to asset value changes and benefits and expenses of divested businesses and include charges for income attributable to non controlling interests.

Page 5

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

COMBINED BALANCE SHEETS - FINANCIAL SERVICES BUSINESSES

(in millions)

	3/31/2009		6/30/2009		9/30/2009		12/31/2009		3/31/2010
Assets:
Investments:
Fixed maturities, available for sale, at fair value (amortized cost $123,589; $123,430; $127,490; $131,727; $134,359)	116,094		119,084		128,459		132,694		136,792
Fixed maturities, held to maturity, at amortized cost (fair value $4,629; $4,938; $5,199; $5,197; $5,081)	4,661		4,935		5,141		5,120		5,016
Trading account assets supporting insurance liabilities, at fair value	13,973		14,766		15,848		16,020		16,683
Other trading account assets, at fair value	4,445		3,550		3,656		2,866		3,222
Equity securities, available for sale, at fair value (cost $3,893; $3,380; $3,390; $3,459; $3,367)	3,425		3,404		3,747		3,810		3,824
Commercial mortgage and other loans	24,069		23,961		23,616		23,021		22,557
Policy loans	4,230		4,413		4,634		4,728		4,825
Other long-term investments	4,247		4,170		4,296		4,359		4,340
Short-term investments	3,458		5,790		6,078		5,487		5,826
Total investments	178,602		184,073		195,475		198,105		203,085
Cash and cash equivalents	12,748		11,798		10,524		12,451		8,996
Accrued investment income	1,610		1,571		1,613		1,668		1,657
Deferred policy acquisition costs	12,223		12,768		13,313		13,751		13,962
Deferred income taxes, net	(462	)	—		—		—		—
Other assets	18,452		19,142		19,964		15,222		15,597
Separate account assets	139,638		151,266		168,128		174,074		182,621
Total assets	362,811		380,618		409,017		415,271		425,918
Liabilities:
Future policy benefits	67,417		69,699		72,774		73,931		74,103
Policyholders’ account balances	95,033		95,680		95,766		96,078		96,082
Securities sold under agreements to repurchase	3,743		3,467		3,650		2,985		2,969
Cash collateral for loaned securities	1,966		2,233		2,573		2,323		2,380
Income taxes	773		2,213		3,935		4,665		4,563
Senior short-term debt	6,651		3,643		2,182		3,122		3,066
Senior long-term debt	17,394		17,713		19,491		17,769		18,373
Junior subordinated long-term debt	1,518		1,518		1,518		1,518		1,518
Other liabilities	13,753		13,903		15,212		14,118		14,016
Separate account liabilities	139,638		151,266		168,128		174,074		182,621
Total liabilities	347,886		361,335		385,229		390,583		399,691
Attributed Equity:
Accumulated other comprehensive income (loss)	(5,889	)	(3,513	)	(99	)	(574	)	403
Other attributed equity	20,238		22,194		23,338		24,728		25,318
Total attributed equity	14,349		18,681		23,239		24,154		25,721
Noncontrolling Interest	576		602		549		534		506
Total Equity	14,925		19,283		23,788		24,688		26,227
Total liabilities and equity	362,811		380,618		409,017		415,271		425,918

Page 6

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

FINANCIAL SERVICES BUSINESSES COMBINING STATEMENTS OF OPERATIONS - BY DIVISION

(in millions)

	Three Months Ended March 31, 2010
	Total Financial Services Businesses		U.S. Retirement Solutions & Investment Management Division		U.S. Individual Life & Group Insurance Division		International Insurance & Investments Division		Corporate and Other Operations
Revenues (1):
Premiums	3,531		146		1,172		2,217		(4	)
Policy charges and fee income	860		398		375		95		(8	)
Net investment income	2,075		1,045		375		583		72
Asset management fees, commissions and other income	889		795		76		99		(81	)
Total revenues	7,355		2,384		1,998		2,994		(21	)
Benefits and Expenses (1):
Insurance and annuity benefits	3,431		335		1,323		1,770		3
Interest credited to policyholders’ account balances	883		645		126		134		(22	)
Interest expense	251		22		35		1		193
Deferral of acquisition costs	(717	)	(269	)	(118	)	(339	)	9
Amortization of acquisition costs	414		148		60		215		(9	)
General and administrative expenses	2,141		989		428		717		7
Total benefits and expenses	6,403		1,870		1,854		2,498		181
Adjusted operating income (loss) before income taxes	952		514		144		496		(202	)
	Three Months Ended March 31, 2009
	Total Financial Services Businesses		U.S. Retirement Solutions & Investment Management Division		U.S. Individual Life & Group Insurance Division		International Insurance & Investments Division		Corporate and Other Operations
Revenues (1):
Premiums	3,261		175		1,190		1,899		(3	)
Policy charges and fee income	734		249		393		99		(7	)
Net investment income	2,058		1,146		353		529		30
Asset management fees, commissions and other income	1,914		1,793		77		85		(41	)
Total revenues	7,967		3,363		2,013		2,612		(21	)
Benefits and Expenses (1):
Insurance and annuity benefits	3,464		642		1,276		1,501		45
Interest credited to policyholders’ account balances	1,086		895		119		119		(47	)
Interest expense	247		25		51		1		170
Deferral of acquisition costs	(578	)	(149	)	(125	)	(309	)	5
Amortization of acquisition costs	1,205		878		136		202		(11	)
General and administrative expenses	1,978		897		423		666		(8	)
Total benefits and expenses	7,402		3,188		1,880		2,180		154
Adjusted operating income (loss) before income taxes	565		175		133		432		(175	)

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments; investment gains, net of losses, on trading account assets supporting insurance liabilities, and revenues of divested businesses, and include revenues representing equity in earnings of operating joint ventures other than those classified as divested businesses. Benefits and expenses exclude charges related to realized investment gains, net of losses; change in experience-rated contractholder liabilities due to asset value changes and benefits and expenses of divested businesses and include charges for income attributable to non controlling interests.

Page 7

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

FINANCIAL SERVICES BUSINESSES COMBINING BALANCE SHEETS - BY DIVISION

(in millions)

	As of March 31, 2010
	Total Financial Services Businesses		U.S. Retirement Solutions & Investment Management Division	U.S. Individual Life & Group Insurance Division	International Insurance & Investments Division	Corporate and Other Operations
Assets:
Total investments	203,085		85,792	29,691	77,563	10,039
Deferred policy acquisition costs	13,962		2,809	4,555	6,744	(146	)
Other assets	26,250		7,792	3,419	8,663	6,376
Separate account assets	182,621		148,792	35,192	517	(1,880	)
Total assets	425,918		245,185	72,857	93,487	14,389
Liabilities:
Future policy benefits	74,103		15,218	9,379	49,118	388
Policyholders’ account balances	96,082		57,647	14,959	25,077	(1,601	)
Debt	22,957		2,878	5,394	598	14,087
Other liabilities	23,928		8,028	3,170	9,743	2,987
Separate account liabilities	182,621		148,792	35,192	517	(1,880	)
Total liabilities	399,691		232,563	68,094	85,053	13,981
Attributed Equity:
Accumulated other comprehensive income (loss)	403		957	407	546	(1,507	)
Other attributed equity	25,318		11,091	4,356	7,883	1,988
Total attributed equity	25,721		12,048	4,763	8,429	481
Noncontrolling Interest	506		574	—	5	(73	)
Total Equity	26,227		12,622	4,763	8,434	408
Total liabilities and equity	425,918		245,185	72,857	93,487	14,389
	As of December 31, 2009
	Total Financial Services Businesses		U.S. Retirement Solutions & Investment Management Division	U.S. Individual Life & Group Insurance Division	International Insurance & Investments Division	Corporate and Other Operations
Assets:
Total investments	198,105		86,016	28,196	76,367	7,526
Deferred policy acquisition costs	13,751		2,722	4,550	6,627	(148	)
Other assets	29,341		7,806	3,006	9,131	9,398
Separate account assets	174,074		141,330	34,100	462	(1,818	)
Total assets	415,271		237,874	69,852	92,587	14,958
Liabilities:
Future policy benefits	73,931		15,335	9,122	49,079	395
Policyholders’ account balances	96,078		58,154	14,772	24,966	(1,814	)
Debt	22,409		3,570	4,994	490	13,355
Other liabilities	24,091		7,747	2,646	9,567	4,131
Separate account liabilities	174,074		141,330	34,100	462	(1,818	)
Total liabilities	390,583		226,136	65,634	84,564	14,249
Attributed Equity:
Accumulated other comprehensive income (loss)	(574	)	532	148	281	(1,535	)
Other attributed equity	24,728		10,612	4,070	7,735	2,311
Total attributed equity	24,154		11,144	4,218	8,016	776
Noncontrolling Interest	534		594	—	7	(67	)
Total Equity	24,688		11,738	4,218	8,023	709
Total liabilities and equity	415,271		237,874	69,852	92,587	14,958

Page 8

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

SHORT-TERM AND LONG-TERM DEBT

(in millions)

	As of March 31, 2010					As of December 31, 2009
	Senior debt		Junior Subordinated Long-term Debt	Total Debt		Senior debt		Junior Subordinated Long-term Debt	Total Debt
	Short-term Debt	Long-term Debt				Short-term Debt	Long-term Debt
Financial Services Businesses
Borrowings by use of proceeds:
Capital Debt	390	6,820	1,518	8,728		389	6,546	1,518	8,453
Investment related	1,390	9,157	—	10,547		1,247	7,998	—	9,245
Securities business related	880	884	—	1,764		1,015	1,283	—	2,298
Specified other businesses	406	1,512	—	1,918		471	1,513	—	1,984
Limited recourse and non-recourse borrowing	—	—	—	—		—	429	—	429
Total debt - Financial Services Businesses	3,066	18,373	1,518	22,957		3,122	17,769	1,518	22,409
Ratio of long-term and short-term capital debt to capitalization (1)				21.9	%				21.6	%
Closed Block Business
Investment related	—	—	—	—		—	—	—	—
Limited recourse and non-recourse borrowing	—	1,750	—	1,750		—	1,750	—	1,750
Total debt	—	1,750	—	1,750		—	1,750	—	1,750
	As of March 31, 2010					As of December 31, 2009
	Prudential Financial, Inc.	The Prudential Insurance Co. of America (2)(3)	Other Affiliates	Total		Prudential Financial, Inc.	The Prudential Insurance Co. of America (2)(3)	Other Affiliates	Total
Financial Services Businesses
Borrowings by sources:
Capital Debt	7,248	1,335	145	8,728		6,973	1,335	145	8,453
Investment related	6,026	1,257	3,264	10,547		4,760	1,212	3,273	9,245
Securities business related	916	848	—	1,764		1,422	826	50	2,298
Specified other businesses	1,512	406	—	1,918		1,513	471	—	1,984
Limited recourse and non-recourse borrowing	—	—	—	—		—	—	429	429
Total debt - Financial Services Businesses	15,702	3,846	3,409	22,957		14,668	3,844	3,897	22,409

(1) For the purposes of calculating the ratio of capital debt to capitalization, Junior Subordinated Notes are considered 25% debt and 75% equity.

(2) Includes Prudential Funding, LLC.

(3) Capital debt at Prudential Insurance Co. of America includes $942 million of Surplus Notes for March 31, 2010 and $941 million for December 31, 2009.

Page 9

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

COMBINED STATEMENTS OF OPERATIONS - U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION

(in millions)

Year-to-date				% Change		2009								2010
2010		2009				1Q		2Q		3Q		4Q		1Q
					Revenues (1):
146		175		-17%	Premiums	175		261		118		136		146
398		249		60%	Policy charges and fee income	249		269		313		358		398
1,045		1,146		-9%	Net investment income	1,146		1,114		1,064		1,054		1,045
795		1,793		-56%	Asset management fees, commissions and other income	1,793		43		321		390		795
2,384		3,363		-29%	Total revenues	3,363		1,687		1,816		1,938		2,384
					Benefits and Expenses (1):
335		642		-48%	Insurance and annuity benefits	642		257		210		360		335
645		895		-28%	Interest credited to policyholders’ account balances	895		527		604		583		645
22		25		-12%	Interest expense	25		16		14		13		22
(269	)	(149	)	-81%	Deferral of acquisition costs	(149	)	(217	)	(347	)	(310	)	(269	)
148		878		-83%	Amortization of acquisition costs	878		(351	)	24		(3	)	148
989		897		10%	General and administrative expenses	897		891		997		1,080		989
1,870		3,188		-41%	Total benefits and expenses	3,188		1,123		1,502		1,723		1,870
514		175		194%	Adjusted operating income before income taxes	175		564		314		215		514

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments, investment gains, net of losses, on trading account assets supporting insurance liabilities. Benefits and expenses exclude charges related to realized investment gains, net of losses and change in experience-rated contractholder liabilities due to asset value changes and include charges for income attributable to non controlling interests.

Page 10

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

COMBINING STATEMENTS OF OPERATIONS - U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION

(in millions)

	Three Months Ended March 31, 2010
	Total U.S. Retirement Solutions & Investment Management Division		Individual Annuities		Retirement		Asset Management
Revenues (1):
Premiums	146		37		109		—
Policy charges and fee income	398		345		53		—
Net investment income	1,045		224		797		24
Asset management fees, commissions and other income	795		267		173		355
Total revenues	2,384		873		1,132		379
Benefits and Expenses (1):
Insurance and annuity benefits	335		39		296		—
Interest credited to policyholders’ account balances	645		194		451		—
Interest expense	22		15		4		3
Deferral of acquisition costs	(269	)	(253	)	(10	)	(6	)
Amortization of acquisition costs	148		137		5		6
General and administrative expenses (2)	989		481		215		293
Total benefits and expenses	1,870		613		961		296
Adjusted operating income before income taxes	514		260		171		83
	Three Months Ended March 31, 2009
	Total U.S. Retirement Solutions & Investment Management Division		Individual Annuities		Retirement		Asset Management
Revenues (1):
Premiums	175		17		158		—
Policy charges and fee income	249		200		49		—
Net investment income	1,146		274		861		11
Asset management fees, commissions and other income	1,793		1,401		140		252
Total revenues	3,363		1,892		1,208		263
Benefits and Expenses (1):
Insurance and annuity benefits	642		304		338		—
Interest credited to policyholders’ account balances	895		407		488		—
Interest expense	25		4		12		9
Deferral of acquisition costs	(149	)	(132	)	(14	)	(3	)
Amortization of acquisition costs	878		862		12		4
General and administrative expenses (2)	897		430		213		254
Total benefits and expenses	3,188		1,875		1,049		264
Adjusted operating income (loss) before income taxes	175		17		159		(1	)

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments, investment gains, net of losses, on trading account assets supporting insurance liabilities. Benefits and expenses exclude charges related to realized investment gains, net of losses and change in experience-rated contractholder liabilities due to asset value changes and include charges for income attributable to non controlling interests.

(2) General and administrative expenses for Individual Annuities include $3 million for the three months ended March 31, 2010 and $150 million for the three months ended March 31, 2009 for the amortization, net of interest, of value of business acquired (VOBA).

Page 11

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION - INDIVIDUAL ANNUITIES SALES RESULTS AND ACCOUNT VALUES

(in millions)

Year-to-date					2009								2010
2010		2009			1Q		2Q		3Q		4Q		1Q
				SALES AND ACCOUNT VALUES:
				Variable Annuities:
80,519		60,007		Beginning total account value	60,007		57,942		65,099		75,611		80,519
4,867		2,108		Sales	2,108		3,378		5,829		4,802		4,867
(1,670	)	(1,443	)	Surrenders and withdrawals	(1,443	)	(1,315	)	(1,444	)	(1,574	)	(1,670	)
3,197		665		Net sales	665		2,063		4,385		3,228		3,197
(266	)	(256	)	Benefit payments	(256	)	(236	)	(239	)	(257	)	(266	)
2,931		409		Net flows	409		1,827		4,146		2,971		2,931
2,288		(2,269	)	Change in market value, interest credited, and other (1)	(2,269	)	5,566		6,650		2,273		2,288
(359	)	(205	)	Policy charges	(205	)	(236	)	(284	)	(336	)	(359	)
85,379		57,942		Ending total account value	57,942		65,099		75,611		80,519		85,379
				Fixed Annuities:
3,452		3,295		Beginning total account value	3,295		3,263		3,221		3,213		3,452
30		55		Sales	55		41		46		37		30
(48	)	(77	)	Surrenders and withdrawals	(77	)	(75	)	(49	)	(57	)	(48	)
(18	)	(22	)	Net redemptions	(22	)	(34	)	(3	)	(20	)	(18	)
(57	)	(43	)	Benefit payments	(43	)	(37	)	(41	)	(39	)	(57	)
(75	)	(65	)	Net flows	(65	)	(71	)	(44	)	(59	)	(75	)
363		33		Interest credited and other (1)	33		30		36		298		363
(1	)	—		Policy charges	—		(1	)	—		—		(1	)
3,739		3,263		Ending total account value	3,263		3,221		3,213		3,452		3,739
				SALES BY DISTRIBUTION CHANNEL:
				Variable and Fixed Annuities (2):
623		465		Insurance Agents	465		531		735		664		623
1,097		344		Wirehouses	344		685		1,359		1,052		1,097
2,460		1,186		Independent Financial Planners (3)	1,186		1,850		3,138		2,470		2,460
717		168		Bank Distribution (3)	168		353		643		653		717
4,897		2,163		Total	2,163		3,419		5,875		4,839		4,897

(1) Includes cumulative reclassifications during the first quarter of 2010 and the fourth quarter of 2009 of $267 million and $259 million, respectively, from variable annuity to fixed annuity account values to conform presentation of certain contracts in annuitization status to current reporting practices.

(2) Amounts represent gross sales.

(3) Sales from the bank distribution channel, previously included within sales from the independent financial planners channel, is being shown separately in order to provide a more meaningful presentation.

Page 12

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION - INDIVIDUAL ANNUITIES ACCOUNT VALUE ACTIVITY

(in millions)

Year-to-date					2009								2010
2010		2009			1Q		2Q		3Q		4Q		1Q
				INDIVIDUAL ANNUITIES:
				Account Values in General Account (1):
14,606		18,110		Beginning balance	18,110		18,208		16,355		15,308		14,606
604		83		Premiums and deposits	83		196		638		566		604
(364	)	(386	)	Surrenders and withdrawals	(386	)	(356	)	(411	)	(369	)	(364	)
240		(303	)	Net sales (redemptions)	(303	)	(160	)	227		197		240
(95	)	(93	)	Benefit payments	(93	)	(83	)	(88	)	(85	)	(95	)
145		(396	)	Net flows	(396	)	(243	)	139		112		145
137		156		Interest credited and other	156		129		141		130		137
(697	)	338		Net transfers (to) from separate account	338		(1,738	)	(1,327	)	(944	)	(697	)
(1	)	—		Policy charges	—		(1	)	—		—		(1	)
14,190		18,208		Ending balance	18,208		16,355		15,308		14,606		14,190
				Account Values in Separate Account:
69,365		45,192		Beginning balance	45,192		42,997		51,965		63,516		69,365
4,293		2,080		Premiums and deposits	2,080		3,223		5,237		4,273		4,293
(1,354	)	(1,134	)	Surrenders and withdrawals	(1,134	)	(1,034	)	(1,082	)	(1,262	)	(1,354	)
2,939		946		Net sales	946		2,189		4,155		3,011		2,939
(228	)	(206	)	Benefit payments	(206	)	(190	)	(192	)	(211	)	(228	)
2,711		740		Net flows	740		1,999		3,963		2,800		2,711
2,514		(2,392	)	Change in market value, interest credited and other	(2,392	)	5,467		6,545		2,441		2,514
697		(338	)	Net transfers (to) from general account	(338	)	1,738		1,327		944		697
(359	)	(205	)	Policy charges	(205	)	(236	)	(284	)	(336	)	(359	)
74,928		42,997		Ending balance	42,997		51,965		63,516		69,365		74,928

(1) Premiums and deposits, and surrenders and withdrawals, are classified within the general account and separate account for purposes of this presentation based on the allocation of customer funds. For example, premiums allocated by customers to separate account investments at the time of sale, while remitted through the company’s general account, are shown as separate account premium in this display, rather than as general account premium and transfers to the separate account.

Page 13

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION - INDIVIDUAL ANNUITIES LIVING BENEFIT FEATURES

(in millions)

	2009				2010
	1Q	2Q	3Q	4Q	1Q
LIVING BENEFIT FEATURES ACCOUNT VALUE AND NET AMOUNT AT RISK (1):
Variable Annuity Account Values with Living Benefit Features
Guaranteed minimum accumulation benefits	9,793	9,951	10,023	9,952	9,906
Guaranteed minimum withdrawal benefits	1,198	1,312	1,420	1,412	1,402
Guaranteed minimum income benefits	3,750	4,184	4,613	4,677	4,693
Guaranteed minimum withdrawal & income benefits	18,470	23,249	31,416	36,430	41,511
Total	33,211	38,696	47,472	52,471	57,512
Living Benefit Features Account Values by Product Design Type
Account Values with Auto-Rebalancing Feature	19,124	22,935	30,116	34,901	39,786
Account Values without Auto-Rebalancing Feature	14,087	15,761	17,356	17,570	17,726
Total	33,211	38,696	47,472	52,471	57,512
Living Benefit Features Net Amount at Risk by Product Design Type
Net Amount at Risk with Auto-Rebalancing Feature	1,514	1,250	1,129	1,061	1,104
Net Amount at Risk without Auto-Rebalancing Feature	5,917	4,286	2,895	2,785	2,479
Total	7,431	5,536	4,024	3,846	3,583

(1) At end of period.

Page 14

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION - INDIVIDUAL ANNUITIES DEATH BENEFIT FEATURES

(in millions)

	2009				2010
	1Q	2Q	3Q	4Q	1Q
DEATH BENEFIT FEATURES ACCOUNT VALUE AND NET AMOUNT AT RISK (1):
Variable Annuity Account Values by Death Benefit Features
Return of net deposits:
Account value	34,313	39,124	46,881	51,106	55,441
Net amount at risk	7,433	5,138	3,219	2,707	2,160
Minimum return, anniversary contract value, or maximum contract value:
Account value	20,208	22,358	24,880	25,770	26,546
Net amount at risk	10,503	8,438	6,472	5,891	5,345
Death Benefit Features Account Values by Product Design Type
Account Values with Auto-Rebalancing Feature	19,124	22,935	30,116	34,901	39,786
Account Values without Auto-Rebalancing Feature	35,397	38,547	41,645	41,975	42,201
Total	54,521	61,482	71,761	76,876	81,987
Death Benefit Features Net Amount at Risk by Product Design Type
Net Amount at Risk with Auto-Rebalancing Feature	1,843	1,328	863	800	719
Net Amount at Risk without Auto-Rebalancing Feature	16,093	12,248	8,828	7,798	6,786
Total	17,936	13,576	9,691	8,598	7,505

(1) At end of period.

Page 15

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION - RETIREMENT SEGMENT SALES RESULTS AND ACCOUNT VALUES

(in millions)

Year-to-date					2009								2010
2010		2009			1Q		2Q		3Q		4Q		1Q
				RETIREMENT SEGMENT SALES AND ACCOUNT VALUES
				Full Service:
126,345		99,738		Beginning total account value	99,738		102,159		110,950		121,756		126,345
5,605		10,489		Deposits and sales	10,489		3,890		4,789		4,020		5,605
(4,500	)	(4,231	)	Withdrawals and benefits	(4,231	)	(3,803	)	(3,287	)	(3,117	)	(4,500	)
3,697		(3,837	)	Change in market value, interest credited and interest income	(3,837	)	8,704		9,304		3,686		3,697
131,147		102,159		Ending total account value	102,159		110,950		121,756		126,345		131,147
1,105		6,258		Net additions	6,258		87		1,502		903		1,105
				Stable value account values included above	36,601		36,722		35,881		36,243		37,138
				Institutional Investment Products:
51,908		50,491		Beginning total account value	50,491		49,030		49,475		50,137		51,908
1,876		627		Additions (1)	627		2,343		1,329		3,487		1,876
(2,139	)	(2,037	)	Withdrawals and benefits (2)	(2,037	)	(1,272	)	(2,523	)	(1,985	)	(2,139	)
799		(152	)	Change in market value, interest credited and interest income	(152	)	678		1,548		213		799
324		101		Other (3)	101		(1,304	)	308		56		324
52,768		49,030		Ending total account value	49,030		49,475		50,137		51,908		52,768
(263	)	(1,410	)	Net additions (withdrawals)	(1,410	)	1,071		(1,194	)	1,502		(263	)

(1) Includes $500 million for the three months ended June 30, 2009, representing transfers of externally managed client balances to accounts managed by the company. These additions are offset within the “Other” category and there are no net impacts on ending account values for these transfers.

(2) Includes $(317) million, $(171) million and $(411) million for the three months ended September 30, 2009, December 31, 2009 and March 31, 2010, respectively, representing transfers of client balances managed by the Company to externally managed accounts. These withdrawals are offset within the “Other” category and there are no net impacts on ending account values for these transfers.

(3) “Other” activity includes transfers to the Asset Management segment of $(11) million and $(43) million for the three months ended December 31, 2009 and March 31, 2010, respectively. “Other” activity also includes $(500) million, $317 million, $171 million and $411 million for the three months ended June 30, 2009, September 30, 2009, December 31, 2009 and March 31, 2010, respectively, related to transfers discussed above in notes 1 and 2. For the three months ended March 31, 2009 “Other” includes $1,500 million representing collateralized funding agreements issued to the Federal Home Loan Bank of New York (FHLBNY). “Other” also includes $(1,015) million and $(507) million for the three months ended March 31, 2009 and June 30, 2009 respectively, representing terminations of affiliated funding agreements utilizing proceeds from the issuances to FHLBNY. The remainder of “Other” activity primarily represents changes in asset balances for externally managed accounts.

Page 16

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION - SUPPLEMENTARY REVENUE AND ASSETS UNDER MANAGEMENT INFORMATION FOR ASSET MANAGEMENT SEGMENT

				Supplementary Revenue Information (in millions):
Year-to-date			% Change		2009							2010
2010	2009				1Q		2Q	3Q		4Q		1Q
				Analysis of revenues by type:
304	239		27%	Asset management fees	239		254	269		287		304
16	(35	)	146%	Incentive, transaction, principal investing and commercial mortgage revenues	(35	)	1	(13	)	(17	)	16
59	59		0%	Service, distribution and other revenues	59		87	35		91		59
379	263		44%	Total Asset Management segment revenues	263		342	291		361		379
				Analysis of asset management fees by source:
152	119		28%	Institutional customers	119		126	129		137		152
81	56		45%	Retail customers	56		62	71		79		81
71	64		11%	General account	64		66	69		71		71
304	239		27%	Total asset management fees	239		254	269		287		304

Supplementary Assets Under Management Information (in billions):
	March 31, 2010
	Equity	Fixed Income	Real Estate	Total
Institutional customers	48.8	124.2	20.3	193.3
Retail customers	62.0	25.6	1.4	89.0
General account	3.9	185.1	0.8	189.8
Total	114.7	334.9	22.5	472.1
	March 31, 2009
	Equity	Fixed Income	Real Estate	Total
Institutional customers	35.2	94.6	22.9	152.7
Retail customers	36.5	23.2	1.6	61.3
General account	2.9	168.6	0.8	172.3
Total	74.6	286.4	25.3	386.3

Page 17

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. RETIREMENT SOLUTIONS AND INVESTMENT MANAGEMENT DIVISION - SUPPLEMENTARY ASSETS UNDER MANAGEMENT AND ADMINISTRATION INFORMATION FOR ASSET MANAGEMENT SEGMENT

(in billions)

Year-to-date					2009								2010
2010		2009			1Q		2Q		3Q		4Q		1Q
				Institutional Assets Under Management:
				Assets gathered by Investment Management & Advisory Services sales force:
151.7		128.5		Beginning assets under management	128.5		120.6		128.9		143.4		151.7
7.2		4.9		Additions	4.9		7.7		10.4		10.8		7.2
(5.7	)	(4.6	)	Withdrawals	(4.6	)	(6.5	)	(5.6	)	(4.5	)	(5.7	)
3.6		(7.3	)	Change in market value	(7.3	)	7.2		9.9		2.1		3.6
(0.6	)	(0.9	)	Net money market flows	(0.9	)	(0.1	)	(0.2	)	(0.1	)	(0.6	)
156.2		120.6		Ending assets under management	120.6		128.9		143.4		151.7		156.2
37.1		32.1		Affiliated institutional assets under management	32.1		34.6		36.5		36.7		37.1
193.3		152.7		Total assets managed for institutional customers at end of period	152.7		163.5		179.9		188.4		193.3
1.5		0.3		Net institutional additions, excluding money market activity	0.3		1.2		4.8		6.3		1.5
				Retail Assets Under Management:
				Assets gathered by Investment Management & Advisory Services sales force:
51.1		33.4		Beginning assets under management	33.4		33.5		39.5		47.2		51.1
4.8		3.5		Additions	3.5		4.6		6.1		4.4		4.8
(3.7	)	(3.3	)	Withdrawals	(3.3	)	(2.7	)	(3.3	)	(3.2	)	(3.7	)
1.5		(0.7	)	Change in market value	(0.7	)	4.4		5.1		2.9		1.5
(0.2	)	0.6		Net money market flows	0.6		(0.3	)	(0.2	)	(0.2	)	(0.2	)
53.5		33.5		Ending assets under management	33.5		39.5		47.2		51.1		53.5
35.5		27.8		Affiliated retail assets under management	27.8		30.8		31.9		33.3		35.5
89.0		61.3		Total assets managed for retail customers at end of period	61.3		70.3		79.1		84.4		89.0
1.1		0.2		Net retail additions, excluding money market activity	0.2		1.9		2.8		1.2		1.1

Page 18

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

COMBINED STATEMENTS OF OPERATIONS - U.S. INDIVIDUAL LIFE AND GROUP INSURANCE DIVISION

(in millions)

Year-to-date				%		2009								2010
2010		2009		Change		1Q		2Q		3Q		4Q		1Q
					Revenues (1):
1,172		1,190		-2%	Premiums	1,190		1,156		1,226		1,165		1,172
375		393		-5%	Policy charges and fee income	393		412		297		407		375
375		353		6%	Net investment income	353		350		361		368		375
76		77		-1%	Asset management fees, commissions and other income	77		88		128		82		76
1,998		2,013		-1%	Total revenues	2,013		2,006		2,012		2,022		1,998
					Benefits and Expenses (1):
1,323		1,276		4%	Insurance and annuity benefits	1,276		1,222		1,326		1,234		1,323
126		119		6%	Interest credited to policyholders’ account balances	119		119		126		128		126
35		51		-31%	Interest expense	51		47		42		41		35
(118	)	(125	)	6%	Deferral of acquisition costs	(125	)	(136	)	(143	)	(133	)	(118	)
60		136		-56%	Amortization of acquisition costs	136		74		(98	)	96		60
428		423		1%	General and administrative expenses	423		437		452		446		428
1,854		1,880		-1%	Total benefits and expenses	1,880		1,763		1,705		1,812		1,854
144		133		8%	Adjusted operating income before income taxes	133		243		307		210		144

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments. Benefits and expenses exclude charges related to realized investment gains, net of losses.

Page 19

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

COMBINING STATEMENTS OF OPERATIONS - U.S. INDIVIDUAL LIFE AND GROUP INSURANCE DIVISION

(in millions)

	Three Months Ended March 31, 2010
	Total U.S.  Individual Life & Group Insurance Division		Individual Life		Group Insurance
Revenues (1):
Premiums	1,172		176		996
Policy charges and fee income	375		249		126
Net investment income	375		213		162
Asset management fees, commissions and other income	76		49		27
Total revenues	1,998		687		1,311
Benefits and Expenses (1):
Insurance and annuity benefits	1,323		309		1,014
Interest credited to policyholders’ account balances	126		69		57
Interest expense	35		35		—
Deferral of acquisition costs	(118	)	(107	)	(11	)
Amortization of acquisition costs	60		55		5
General and administrative expenses	428		235		193
Total benefits and expenses	1,854		596		1,258
Adjusted operating income before income taxes	144		91		53
	Three Months Ended March 31, 2009
	Total U.S. Individual Life & Group Insurance Division		Individual Life		Group Insurance
Revenues (1):
Premiums	1,190		160		1,030
Policy charges and fee income	393		276		117
Net investment income	353		197		156
Asset management fees, commissions and other income	77		47		30
Total revenues	2,013		680		1,333
Benefits and Expenses (1):
Insurance and annuity benefits	1,276		272		1,004
Interest credited to policyholders’ account balances	119		62		57
Interest expense	51		51		—
Deferral of acquisition costs	(125	)	(115	)	(10	)
Amortization of acquisition costs	136		128		8
General and administrative expenses	423		242		181
Total benefits and expenses	1,880		640		1,240
Adjusted operating income before income taxes	133		40		93

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments. Benefits and expenses exclude charges related to realized investment gains, net of losses.

Page 20

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. INDIVIDUAL LIFE AND GROUP INSURANCE DIVISION - INDIVIDUAL LIFE ANNUALIZED NEW BUSINESS PREMIUMS, ACCOUNT VALUE ACTIVITY, AND FACE AMOUNT IN FORCE

(in millions)

Year-to-date					2009								2010
2010		2009			1Q		2Q		3Q		4Q		1Q
				ANNUALIZED NEW BUSINESS PREMIUMS (1):
5		4		Variable life	4		5		3		8		5
20		28		Universal life	28		32		26		27		20
43		52		Term life	52		61		57		56		43
68		84		Total	84		98		86		91		68
				ANNUALIZED NEW BUSINESS PREMIUMS BY DISTRIBUTION CHANNEL (1):
20		22		Prudential Agents	22		24		22		27		20
48		62		Third party distribution	62		74		64		64		48
68		84		Total	84		98		86		91		68
				ACCOUNT VALUE ACTIVITY:
				Policyholders’ Account Balances (2):
8,081		7,397		Beginning balance	7,397		7,691		7,824		7,914		8,081
382		570		Premiums and deposits	570		474		386		375		382
(184	)	(278	)	Surrenders and withdrawals	(278	)	(240	)	(220	)	(196	)	(184	)
198		292		Net sales	292		234		166		179		198
(64	)	(34	)	Benefit payments	(34	)	(32	)	(50	)	(33	)	(64	)
134		258		Net flows	258		202		116		146		134
48		81		Interest credited and other	81		(64	)	11		50		48
58		45		Net transfers from separate account	45		85		53		63		58
(93	)	(90	)	Policy charges	(90	)	(90	)	(90	)	(92	)	(93	)
8,228		7,691		Ending balance	7,691		7,824		7,914		8,081		8,228
				Separate Account Liabilities:
15,692		12,848		Beginning balance	12,848		12,110		13,450		14,972		15,692
235		315		Premiums and deposits	315		261		268		329		235
(142	)	(328	)	Surrenders and withdrawals	(328	)	(216	)	(139	)	(165	)	(142	)
93		(13	)	Net sales (redemptions)	(13	)	45		129		164		93
(8	)	(2	)	Benefit payments	(2	)	(18	)	(11	)	(8	)	(8	)
85		(15	)	Net flows	(15	)	27		118		156		85
609		(500	)	Change in market value, interest credited and other	(500	)	1,574		1,633		802		609
(58	)	(45	)	Net transfers to general account	(45	)	(85	)	(53	)	(63	)	(58	)
(173	)	(178	)	Policy charges	(178	)	(176	)	(176	)	(175	)	(173	)
16,155		12,110		Ending balance	12,110		13,450		14,972		15,692		16,155
				FACE AMOUNT IN FORCE (3):
				Variable life	124,600		123,419		122,955		122,091		121,090
				Universal life	30,537		32,315		33,711		34,984		35,622
				Term life	386,218		402,459		417,100		431,831		440,915
				Total	541,355		558,193		573,766		588,906		597,627

(1) Excludes corporate-owned life insurance.

(2) Includes fixed rate funds, alliance deposits, supplementary contracts and deferred revenues on variable products.

(3) At end of period; before reinsurance ceded.

Page 21

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. INDIVIDUAL LIFE AND GROUP INSURANCE DIVISION - SUPPLEMENTARY INFORMATION FOR INDIVIDUAL LIFE INSURANCE

(dollar amounts in millions)

Year-to-date			2009				2010
2010	2009		1Q	2Q	3Q	4Q	1Q
		Individual Life Insurance:
		Policy Surrender Experience:
170	256	Cash value of surrenders	256	236	173	190	170
3.0%	5.5%	Cash value of surrenders as a percentage of mean future policy benefits, policyholders’ account balances, and separate account balances	5.5%	5.0%	3.4%	3.5%	3.0%
		Death benefits per $1,000 of in force (1):
4.98	4.71	Variable and universal life	4.71	3.83	3.72	3.30	4.98
1.11	1.14	Term life	1.14	1.10	0.75	0.81	1.11
2.98	3.14	Total, Individual Life Insurance	3.14	2.54	2.32	1.98	2.98

(1) Annualized, for interim reporting periods. Amounts are stated net of reinsurance.

Page 22

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

U.S. INDIVIDUAL LIFE AND GROUP INSURANCE DIVISION - SUPPLEMENTARY INFORMATION FOR GROUP INSURANCE

(dollar amounts in millions)

Year-to-date			2009								2010
2010	2009		1Q		2Q		3Q		4Q		1Q
		GROUP INSURANCE ANNUALIZED NEW BUSINESS PREMIUMS:
257	210	Group life	210		35		53		41		257
89	134	Group disability (1)	134		26		57		21		89
346	344	Total	344		61		110		62		346
		Future Policy Benefits (2):
		Group life	2,169		2,176		2,141		2,282		2,198
		Group disability (1)	1,015		1,059		1,132		1,176		1,276
		Total	3,184		3,235		3,273		3,458		3,474
		Policyholders’ Account Balances (2):
		Group life	6,033		6,160		6,343		6,506		6,560
		Group disability (1)	159		168		172		185		171
		Total	6,192		6,328		6,515		6,691		6,731
		Separate Account Liabilities (2):
		Group life	20,315		19,141		18,083		18,408		19,038
		Group disability (1)	—		—		—		—		—
		Total	20,315		19,141		18,083		18,408		19,038
		Group Life Insurance:
936	920	Gross premiums, policy charges and fee income (3)	920		915		889		877		936
841	857	Earned premiums, policy charges and fee income	857		849		873		835		841
91.7%	88.0%	Benefits ratio	88.0	%	87.3	%	89.8	%	88.6	%	91.7	%
8.8%	8.8%	Administrative operating expense ratio	8.8	%	8.7	%	9.1	%	9.4	%	8.8	%
		Persistency ratio	95.8	%	95.6	%	94.7	%	94.3	%	93.0	%
		Group Disability Insurance (1):
285	297	Gross premiums, policy charges and fee income (3)	297		271		303		274		285
281	290	Earned premiums, policy charges and fee income	290		271		291		269		281
86.5%	86.2%	Benefits ratio	86.2	%	85.6	%	93.5	%	90.3	%	86.5	%
21.4%	17.9%	Administrative operating expense ratio	17.9	%	18.1	%	17.5	%	20.1	%	21.4	%
		Persistency ratio	94.5	%	93.6	%	92.3	%	90.9	%	95.7	%

(1) Group disability amounts include long-term care products.

(2) As of end of period.

(3) Before returns of premiums to participating policyholders for favorable claims experience.

Page 23

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

DEFERRED POLICY ACQUISITION COSTS & DEFERRED SALES INDUCEMENTS - INDIVIDUAL ANNUITIES, INDIVIDUAL LIFE AND GROUP INSURANCE

(in millions)

Year-to-date					2009								2010
2010		2009			1Q		2Q		3Q		4Q		1Q
				DEFERRED POLICY ACQUISITION COSTS
				INDIVIDUAL ANNUITIES:
2,449		2,329		Beginning balance	2,329		1,580		1,943		2,111		2,449
253		132		Capitalization	132		197		327		297		253
(137	)	(862	)	Amortization - operating results	(862	)	355		(11	)	13		(137	)
1		2		Amortization - realized investment gains and losses	2		11		10		—		1
(34	)	(21	)	Impact of unrealized (gains) or losses on AFS securities	(21	)	(200	)	(158	)	28		(34	)
2,532		1,580		Ending balance	1,580		1,943		2,111		2,449		2,532
				INDIVIDUAL LIFE INSURANCE:
4,179		4,226		Beginning balance	4,226		4,270		4,142		4,150		4,179
107		115		Capitalization	115		128		124		124		107
(55	)	(128	)	Amortization - operating results	(128	)	(69	)	102		(91	)	(55	)
—		—		Amortization - realized investment gains and losses	—		—		—		—		—
(53	)	57		Impact of unrealized (gains) or losses on AFS securities	57		(187	)	(218	)	(4	)	(53	)
4,178		4,270		Ending balance	4,270		4,142		4,150		4,179		4,178
				GROUP INSURANCE:
371		347		Beginning balance	347		349		352		367		371
11		10		Capitalization	10		8		19		9		11
(5	)	(8	)	Amortization - operating results	(8	)	(5	)	(4	)	(5	)	(5	)
—		—		Amortization - realized investment gains and losses	—		—		—		—		—
—		—		Impact of unrealized losses on AFS securities	—		—		—		—		—
377		349		Ending balance	349		352		367		371		377
				DEFERRED SALES INDUCEMENTS
				INDIVIDUAL ANNUITIES:
1,117		1,023		Beginning balance	1,023		807		983		1,016		1,117
110		66		Capitalization	66		82		130		113		110
(93	)	(281	)	Amortization - operating results	(281	)	84		(15	)	(9	)	(93	)
3		(1	)	Amortization - realized investment gains and losses	(1	)	10		10		5		3
—		—		Impact of unrealized (gains) or losses on AFS securities	—		—		(92	)	(8	)	—
—		—		Other	—		—		—		—		—
1,137		807		Ending balance	807		983		1,016		1,117		1,137

Page 24

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

COMBINED STATEMENTS OF OPERATIONS - INTERNATIONAL INSURANCE AND INVESTMENTS DIVISION

(in millions)

Year-to-date				%		2009								2010
2010		2009		Change		1Q		2Q		3Q		4Q		1Q
					Revenues (1):
2,217		1,899		17%	Premiums	1,899		1,911		2,015		2,053		2,217
95		99		-4%	Policy charges and fee income	99		91		90		94		95
583		529		10%	Net investment income	529		506		563		564		583
99		85		16%	Asset management fees, commissions and other income	85		101		74		93		99
2,994		2,612		15%	Total revenues	2,612		2,609		2,742		2,804		2,994
					Benefits and Expenses (1):
1,770		1,501		18%	Insurance and annuity benefits	1,501		1,465		1,572		1,601		1,770
134		119		13%	Interest credited to policyholders’ account balances	119		110		123		128		134
1		1		0%	Interest expense	1		1		1		1		1
(339	)	(309	)	-10%	Deferral of acquisition costs	(309	)	(299	)	(302	)	(338	)	(339	)
215		202		6%	Amortization of acquisition costs	202		214		175		207		215
717		666		8%	General and administrative expenses	666		642		666		750		717
2,498		2,180		15%	Total benefits and expenses	2,180		2,133		2,235		2,349		2,498
496		432		15%	Adjusted operating income before income taxes	432		476		507		455		496

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments, investment gains, net of losses, on trading account assets supporting insurance liabilities and include revenues representing equity in earnings of operating joint ventures. Benefits and expenses exclude charges related to realized investment gains, net of losses and change in experience-rated contractholder liabilities due to asset value changes and include charges for income attributable to non controlling interests.

Page 25

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

COMBINING STATEMENTS OF OPERATIONS - INTERNATIONAL INSURANCE AND INVESTMENTS DIVISION

(in millions)

	Three Months Ended March 31, 2010
	Total International Insurance & Investments Division		International Insurance - Life Planner Operations		International Insurance - Gibraltar Life		International Investments
Revenues (1):
Premiums	2,217		1,448		769		—
Policy charges and fee income	95		76		19		—
Net investment income	583		299		283		1
Asset management fees, commissions and other income	99		10		9		80
Total revenues	2,994		1,833		1,080		81
Benefits and Expenses (1):
Insurance and annuity benefits	1,770		1,163		607		—
Interest credited to policyholders’ account balances	134		53		81		—
Interest expense	1		1		—		—
Deferral of acquisition costs	(339	)	(234	)	(105	)	—
Amortization of acquisition costs	215		146		69		—
General and administrative expenses	717		377		271		69
Total benefits and expenses	2,498		1,506		923		69
Adjusted operating income before income taxes	496		327		157		12
	Three Months Ended March 31, 2009
	Total International Insurance & Investments Division		International Insurance - Life Planner Operations		International Insurance - Gibraltar Life		International Investments
Revenues (1):
Premiums	1,899		1,285		614		—
Policy charges and fee income	99		78		21		—
Net investment income	529		254		272		3
Asset management fees, commissions and other income	85		25		(12	)	72
Total revenues	2,612		1,642		895		75
Benefits and Expenses (1):
Insurance and annuity benefits	1,501		1,018		483		—
Interest credited to policyholders’ account balances	119		48		71		—
Interest expense	1		3		(2	)	—
Deferral of acquisition costs	(309	)	(219	)	(90	)	—
Amortization of acquisition costs	202		138		64		—
General and administrative expenses	666		360		238		68
Total benefits and expenses	2,180		1,348		764		68
Adjusted operating income before income taxes	432		294		131		7

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments, investment gains, net of losses, on trading account assets supporting insurance liabilities and include revenues representing equity in earnings of operating joint ventures. Benefits and expenses exclude charges related to realized investment gains, net of losses and change in experience-rated contractholder liabilities due to asset value changes and include charges for income attributable to non controlling interests.

Page 26

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

INTERNATIONAL INSURANCE SEGMENT - SUPPLEMENTARY INCOME STATEMENT INFORMATION

(Yen and Dollars in millions)

Year-to-date					2009								2010
2010		2009			1Q		2Q		3Q		4Q		1Q
				Japanese Yen Basis Results:
				Revenues (1):
¥	129,732	¥	124,975	Japanese insurance operations excluding Gibraltar Life	¥	124,975	¥	114,650	¥	114,616	¥	113,194	¥	129,732
	100,702		84,867	Gibraltar Life		84,867		99,223		105,163		96,669		100,702
	230,434		209,842	Total revenues, Japan, yen basis		209,842		213,873		219,779		209,863		230,434
				Benefits and Expenses (1):
	103,872		101,197	Japanese insurance operations excluding Gibraltar Life		101,197		88,419		88,816		91,149		103,872
	84,079		70,551	Gibraltar Life		70,551		82,573		84,509		82,300		84,079
	187,951		171,748	Total benefits and expenses, Japan, yen basis		171,748		170,992		173,325		173,449		187,951
				Adjusted operating income (2):
	25,860		23,778	Japanese insurance operations excluding Gibraltar Life		23,778		26,231		25,800		22,045		25,860
	16,623		14,316	Gibraltar Life		14,316		16,650		20,654		14,369		16,623
¥	42,483	¥	38,094	Total adjusted operating income, Japan, yen basis	¥	38,094	¥	42,881	¥	46,454	¥	36,414	¥	42,483
				U.S. Dollar adjusted operating income (3):
$	270	$	237	Japanese insurance operations excluding Gibraltar Life	$	237	$	257	$	254	$	226	$	270
	157		131	Gibraltar Life		131		150		190		151		157
	427		368	Total adjusted operating income, Japan, U.S. dollar basis		368		407		444		377		427
	57		57	All other countries (4)		57		58		56		76		57
$	484	$	425	Total adjusted operating income, International Insurance segment, U.S. dollar basis	$	425	$	465	$	500	$	453	$	484

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments, investment gains, net of losses, on trading account assets supporting insurance liabilities and include revenues representing equity in earnings of operating joint ventures. Benefits and expenses exclude charges related to realized investment gains, net of losses and change in experience-rated contractholder liabilities due to asset value changes and include charges for income attributable to non controlling interests.

(2) Adjusted operating income on yen basis excludes impact of currency hedging.

(3) U.S. dollar adjusted operating income includes impact of currency hedging.

(4) Results include corporate management and development expenses incurred in the U.S. related to Japanese Insurance operations excluding Gibraltar Life.

Page 27

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

INTERNATIONAL INSURANCE AND INVESTMENTS DIVISION - SALES RESULTS AND SUPPLEMENTARY INFORMATION

(in millions)

Year-to-date			2009				2010
2010	2009		1Q	2Q	3Q	4Q	1Q
		INTERNATIONAL INSURANCE OPERATING DATA:
		Actual exchange rate basis (1):
		Net premiums, policy charges and fee income:
1,180	1,084	Japan, excluding Gibraltar Life	1,084	963	980	1,019	1,180
788	635	Gibraltar Life	635	731	802	771	788
344	279	All other countries	279	308	323	357	344
2,312	1,998	Total	1,998	2,002	2,105	2,147	2,312
		Annualized new business premiums:
184	173	Japan, excluding Gibraltar Life	173	122	138	144	184
163	113	Gibraltar Life	113	147	149	159	163
64	47	All other countries	47	59	67	83	64
411	333	Total	333	328	354	386	411
		Annualized new business premiums by distribution channel:
248	220	Life Planners	220	181	205	227	248
107	92	Gibraltar Life Advisors	92	122	111	111	107
56	21	Banks	21	25	38	48	56
411	333	Total	333	328	354	386	411
		Constant exchange rate basis (2):
		Net premiums, policy charges and fee income:
1,106	1,043	Japan, excluding Gibraltar Life	1,043	951	938	945	1,106
721	585	Gibraltar Life	585	721	771	703	720
366	359	All other countries	359	359	365	385	366
2,193	1,987	Total	1,987	2,031	2,074	2,033	2,192
		Annualized new business premiums:
174	169	Japan, excluding Gibraltar Life	169	120	132	135	174
155	108	Gibraltar Life	108	149	149	151	155
67	60	All other countries	60	66	76	89	67
396	337	Total	337	335	357	375	396
		Annualized new business premiums by distribution channel:
241	229	Life Planners	229	186	208	224	241
100	87	Gibraltar Life Advisors	87	124	110	104	100
55	21	Banks	21	25	39	47	55
396	337	Total	337	335	357	375	396

(1) Translated based on applicable average exchange rates for the period shown.

(2) Foreign denominated activity translated to U.S. dollars at uniform exchange rates for all periods presented, including Japanese yen 99 per U.S. dollar; Korean won 1040 per U.S. dollar. U.S. denominated activity is included based on the amounts as transacted in U.S. dollars.

Page 28

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

INTERNATIONAL INSURANCE AND INVESTMENTS DIVISION - SALES RESULTS AND SUPPLEMENTARY INFORMATION

	2009								2010
	1Q		2Q		3Q		4Q		1Q
Face amount of individual policies in force at end of period (in billions) (1)(2):
(Constant exchange rate basis)
Japan, excluding Gibraltar Life	266		267		269		270		273
Gibraltar Life	195		193		198		198		197
All other countries	102		103		104		106		106
Total	563		563		571		574		576
Number of individual policies in force at end of period (in thousands) (2):
Japan, excluding Gibraltar Life	2,353		2,373		2,400		2,425		2,462
Gibraltar Life	3,787		3,760		3,894		3,897		3,892
All other countries	1,359		1,375		1,402		1,434		1,450
Total	7,499		7,508		7,696		7,756		7,804
International life insurance policy persistency:
Excluding Gibraltar Life:
13 months	92.2	%	91.8	%	91.5	%	91.6	%	91.6	%
25 months	85.0	%	84.7	%	84.2	%	84.6	%	84.4	%
Gibraltar Life:
13 months	91.2	%	91.2	%	91.1	%	91.6	%	92.0	%
25 months	83.4	%	83.1	%	83.2	%	83.6	%	83.8	%
Number of Life Planners at end of period:
Japan	3,078		2,987		3,043		3,094		3,150
All other countries	3,319		3,388		3,441		3,515		3,499
Total life planners	6,397		6,375		6,484		6,609		6,649
Gibraltar Life Advisors	6,170		6,376		6,060		6,398		5,971

(1) Foreign denominated activity translated to U.S. dollars at uniform exchange rates for all periods presented, including Japanese yen 99 per U.S. dollar; Korean won 1040 per U.S. dollar. U.S. denominated activity is included based on the amounts as transacted in U.S. dollars.

(2) Direct business only; policy count includes annuities.

Page 29

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

INVESTMENT PORTFOLIO COMPOSITION

(in millions)

	March 31, 2010					December 31, 2009
	Consolidated Portfolio	Closed Block Business	Financial  Services Businesses			Consolidated Portfolio	Closed Block Business	Financial Services Businesses
			Amount	% of Total				Amount	% of Total
Fixed maturities:
Public, available for sale, at fair value	144,141	29,838	114,303	58.6	%	140,805	29,537	111,268	58.4	%
Public, held to maturity, at amortized cost	3,903	—	3,903	2.0	%	4,009	—	4,009	2.1	%
Private, available for sale, at fair value	34,273	13,820	20,453	10.5	%	32,418	12,994	19,424	10.2	%
Private, held to maturity, at amortized cost	1,113	—	1,113	0.6	%	1,111	—	1,111	0.6	%
Trading account assets supporting insurance liabilities, at fair value	16,683	—	16,683	8.5	%	16,020	—	16,020	8.4	%
Other trading account assets, at fair value	1,465	149	1,316	0.7	%	1,783	167	1,616	0.8	%
Equity securities, available for sale, at fair value	7,076	3,264	3,812	1.9	%	6,883	3,085	3,798	2.0	%
Commercial mortgage and other loans	29,201	8,203	20,998	10.8	%	29,644	8,363	21,281	11.2	%
Policy loans	10,223	5,398	4,825	2.5	%	10,146	5,418	4,728	2.5	%
Other long-term investments (1)	4,438	1,620	2,818	1.4	%	4,356	1,545	2,811	1.5	%
Short-term investments (2)	6,000	1,098	4,902	2.5	%	5,640	1,338	4,302	2.3	%
Subtotal (3)	258,516	63,390	195,126	100.0	%	252,815	62,447	190,368	100.0	%
Invested assets of other entities and operations (4)	7,959	—	7,959			7,737	—	7,737
Total investments	266,475	63,390	203,085			260,552	62,447	198,105

Fixed Maturities by Credit Quality (3):

		March 31, 2010						December 31, 2009
		Financial Services Businesses						Financial Services Businesses
		Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Fair Value	% of Total		Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Fair Value	% of Total
Public Fixed Maturities:
NAIC Rating (5)
1		96,854	3,996	1,587	99,263	83.9	%	94,368	3,767	1,845	96,290	83.5	%
2		14,625	811	625	14,811	12.5	%	14,682	699	790	14,591	12.7	%
	Subtotal - High or Highest Quality Securities (6)	111,479	4,807	2,212	114,074	96.4	%	109,050	4,466	2,635	110,881	96.2	%
3		2,605	61	256	2,410	2.0	%	2,743	44	314	2,473	2.1	%
4		1,605	25	367	1,263	1.1	%	1,657	22	345	1,334	1.2	%
5		552	29	158	423	0.4	%	685	19	202	502	0.4	%
6		134	17	61	90	0.1	%	197	25	69	153	0.1	%
	Subtotal - Other Securities	4,896	132	842	4,186	3.6	%	5,282	110	930	4,462	3.8	%
	Total	116,375	4,939	3,054	118,260	100.0	%	114,332	4,576	3,565	115,343	100.0	%
Private Fixed Maturities:
NAIC Rating (5)
1		5,968	350	103	6,215	28.8	%	5,795	259	121	5,933	28.9	%
2		11,158	695	313	11,540	53.5	%	10,485	452	379	10,558	51.4	%
	Subtotal - High or Highest Quality Securities (6)	17,126	1,045	416	17,755	82.3	%	16,280	711	500	16,491	80.3	%
3		2,134	95	88	2,141	9.9	%	2,292	52	131	2,213	10.8	%
4		1,041	22	96	967	4.5	%	1,193	18	118	1,093	5.3	%
5		448	10	25	433	2.0	%	482	6	36	452	2.2	%
6		284	20	23	281	1.3	%	313	24	39	298	1.4	%
	Subtotal - Other Securities	3,907	147	232	3,822	17.7	%	4,280	100	324	4,056	19.7	%
	Total	21,033	1,192	648	21,577	100.0	%	20,560	811	824	20,547	100.0	%

(1) Other long-term investments consist of real estate and non-real estate related investments in joint ventures and partnerships, investment real estate held through direct ownership, and other miscellaneous investments.

(2) Short-term investments have virtually no sub-prime exposure.

(3) Excludes (i) assets of our securities brokerage, trading, banking operations and real estate and relocation services, (ii) assets of our asset management operations, including assets managed for third parties, and (iii) those assets classified as “separate account assets” on our balance sheet.

(4) Includes invested assets of brokerage, trading, banking operations, real estate and relocation services, and asset management operations. Excludes assets of our asset management operations managed for third parties and those assets classified as “separate account assets” on our balance sheet.

(5) Reflects equivalent ratings for investments of the international insurance operations. Includes, as of March 31, 2010 and December 31, 2009, respectively, 182 securities with amortized cost of $1,651 million (fair value $1,702 million) and 157 securities with amortized cost of $1,294 million (fair value, $1,299 million) that have been categorized based on expected NAIC designations pending receipt of SVO ratings.

(6) As a result of the NAIC rating methodology for non-agency residential mortgage-backed securities, may include certain securities rated BB and below by external rating agencies as of March 31, 2010 and December 31, 2009.

Page 30

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

FINANCIAL SERVICES BUSINESSES INVESTMENT PORTFOLIO COMPOSITION

(in millions)

	March 31, 2010			December 31, 2009
	Amount	% of Total		Amount	% of Total
Japanese Insurance Operations:
Fixed maturities:
Public, available for sale, at fair value	50,724	73.0	%	50,476	73.0	%
Public, held to maturity, at amortized cost	3,903	5.6	%	4,009	5.8	%
Private, available for sale, at fair value	2,869	4.1	%	2,692	3.9	%
Private, held to maturity, at amortized cost	1,113	1.6	%	1,111	1.6	%
Trading account assets supporting insurance liabilities, at fair value	1,290	1.9	%	1,236	1.8	%
Other trading account assets, at fair value	769	1.1	%	804	1.2	%
Equity securities, available for sale, at fair value	1,504	2.2	%	1,508	2.2	%
Commercial mortgage and other loans	3,679	5.3	%	3,675	5.3	%
Policy loans	1,782	2.6	%	1,760	2.5	%
Other long-term investments (1)	1,558	2.2	%	1,524	2.2	%
Short-term investments	273	0.4	%	313	0.5	%
Total	69,464	100.0	%	69,108	100.0	%
	March 31, 2010			December 31, 2009
	Amount	% of Total		Amount	% of Total
Financial Services Businesses excluding Japanese Insurance Operations (2):
Fixed maturities:
Public, available for sale, at fair value	63,579	50.6	%	60,792	50.1	%
Public, held to maturity, at amortized cost	—	0.0	%	—	0.0	%
Private, available for sale, at fair value	17,584	14.0	%	16,732	13.8	%
Private, held to maturity, at amortized cost	—	0.0	%	—	0.0	%
Trading account assets supporting insurance liabilities, at fair value	15,393	12.3	%	14,784	12.2	%
Other trading account assets, at fair value	547	0.4	%	812	0.7	%
Equity securities, available for sale, at fair value	2,308	1.8	%	2,290	1.9	%
Commercial mortgage and other loans	17,319	13.8	%	17,606	14.5	%
Policy loans	3,043	2.4	%	2,968	2.4	%
Other long-term investments (1)	1,260	1.0	%	1,287	1.1	%
Short-term investments	4,629	3.7	%	3,989	3.3	%
Total	125,662	100.0	%	121,260	100.0	%

(1) Other long-term investments consist of real estate and non-real estate related investments in joint ventures and partnerships, investment real estate held through direct ownership, derivatives and other miscellaneous investments.

(2) Excludes (i) assets of our securities brokerage, securities trading, banking operations and real estate and relocation services, (ii) assets of our asset management operations, including assets managed for third parties, and (iii) those assets classified as “separate account assets” on our balance sheet.

Page 31

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

FINANCIAL SERVICES BUSINESSES INVESTMENT RESULTS

(in millions)

	Three Months Ended March 31
	2010						2009
	Investment Income				Realized Gains / (Losses)		Investment Income				Realized Gains / (Losses)
	Yield (3)		Amount				Yield (3)		Amount
Financial Services Businesses (1):
Fixed maturities	4.27	%	1,437		(238	)	4.62	%	1,445		(236	)
Equity securities	6.31	%	53		(10	)	5.61	%	57		(265	)
Commercial mortgage and other loans	5.60	%	230		18		5.64	%	242		(49	)
Policy loans	4.77	%	57		—		4.99	%	53		—
Short-term investments and cash equivalents	0.26	%	8		—		0.98	%	29		—
Other investments	3.77	%	40		363		4.52	%	45		1,175
Gross investment income before investment expenses	4.25	%	1,825		133		4.51	%	1,871		625
Investment expenses	-0.14	%	(50	)	—		-0.16	%	(54	)	—
Subtotal	4.11	%	1,775		133		4.35	%	1,817		625
Investment results of other entities and operations (2)			299		(18	)			245		(52	)
Less, investment income related to adjusted operating income reconciling items			1						(4	)
Total			2,075		115				2,058		573

(1) Excludes assets of our securities brokerage, securities trading, and banking operations, real estate and relocation services, commercial loans and trading account assets supporting insurance liabilities where the investment results generally accrue to contractholders, assets of our asset management operations, including assets managed for third parties, and those assets classified as “separate account assets” on our balance sheet.

(2) Includes investment income of securities brokerage, securities trading, banking operations, real estate and relocation services, commercial loans, discontinued real estate operations, and trading account assets supporting insurance liabilities where the investment results generally accrue to contractholders.

(3) Yields are based on quarterly average carrying values except for fixed maturities, equity securities and securities lending activity. Yields for fixed maturities are based on amortized cost. Yields for equity securities are based on cost. Yields for fixed maturities and short term investments and cash equivalents are calculated net of liabilities and rebate expenses corresponding to securities lending activity. Yields exclude investment income and assets related to commercial loans and trading account assets supporting insurance liabilities where the investment results generally accrue to contractholders and investment income on assets other than those included in invested assets. Prior periods yields are presented on a basis consistent with the current presentation.

Page 32

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

FINANCIAL SERVICES BUSINESSES INVESTMENT RESULTS - JAPANESE INSURANCE OPERATIONS

(in millions)

	Three Months Ended March 31
	2010						2009
	Investment Income				Realized Gains / (Losses)		Investment Income				Realized Gains / (Losses)
	Yield (1)		Amount				Yield (1)		Amount
Japanese Insurance Operations:
Fixed maturities	2.75	%	405		(222	)	2.98	%	368		(15	)
Equity securities	2.76	%	11		(60	)	3.06	%	18		(174	)
Commercial mortgage and other loans	4.56	%	42		1		4.87	%	41		2
Policy loans	3.74	%	16		—		3.95	%	15		—
Short-term investments and cash equivalents	0.33	%	1		—		1.01	%	4		—
Other investments	5.50	%	32		24		6.40	%	37		(221	)
Gross investment income before investment expenses	2.91	%	507		(257	)	3.19	%	483		(408	)
Investment expenses	-0.15	%	(26	)	—		-0.18	%	(29	)	—
Total	2.76	%	481		(257	)	3.01	%	454		(408	)

(1) Yields are based on quarterly average carrying values except for fixed maturities, equity securities and securities lending activity. Yields for fixed maturities are based on amortized cost. Yields for equity securities are based on cost. Yields for fixed maturities and short term investments and cash equivalents are calculated net of liabilities and rebate expenses corresponding to securities lending activity. Yields exclude investment income and assets related to commercial loans and trading account assets supporting insurance liabilities where the investment results generally accrue to contractholders and investment income on assets other than those included in invested assets. Prior periods yields are presented on a basis consistent with the current presentation.

Page 33

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

FINANCIAL SERVICES BUSINESSES INVESTMENT RESULTS - EXCLUDING JAPANESE INSURANCE OPERATIONS

(in millions)

	Three Months Ended March 31
	2010						2009
	Investment Income				Realized Gains / (Losses)		Investment Income				Realized Gains / (Losses)
	Yield (2)		Amount				Yield (2)		Amount
Financial Services Businesses excluding Japanese Insurance Operations (1):
Fixed maturities	5.46	%	1,032		(16	)	5.68	%	1,077		(221	)
Equity securities	9.36	%	42		50		9.01	%	39		(91	)
Commercial mortgage and other loans	5.90	%	188		17		5.82	%	201		(51	)
Policy loans	5.38	%	41		—		5.56	%	38		—
Short-term investments and cash equivalents	0.25	%	7		—		0.97	%	25		—
Other investments	1.72	%	8		339		1.85	%	8		1,396
Gross investment income before investment expenses	4.97	%	1,318		390		5.28	%	1,388		1,033
Investment expenses	-0.13	%	(24	)	—		-0.15	%	(25	)	—
Total	4.84	%	1,294		390		5.13	%	1,363		1,033

(1) Excludes assets of our securities brokerage, securities trading, and banking operations, real estate and relocation services, commercial loans and trading account assets supporting insurance liabilities where the investment results generally accrue to contractholders, assets of our asset management operations, including assets managed for third parties, and those assets classified as “separate account assets” on our balance sheet.

(2) Yields are based on quarterly average carrying values except for fixed maturities, equity securities and securities lending activity. Yields for fixed maturities are based on amortized cost. Yields for equity securities are based on cost. Yields for fixed maturities and short term investments and cash equivalents are calculated net of liabilities and rebate expenses corresponding to securities lending activity. Yields exclude investment income and assets related to commercial loans and trading account assets supporting insurance liabilities where the investment results generally accrue to contractholders and investment income on assets other than those included in invested assets. Prior periods yields are presented on a basis consistent with the current presentation.

Page 34

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

RECLASSIFIED FINANCIAL HIGHLIGHTS

(in millions, except per share data)

Years ended December 31					2008								2009
2007		2006			1Q		2Q		3Q		4Q		1Q		2Q		3Q		4Q
				Financial Services Businesses:
				Pre-tax adjusted operating income (loss) by division:
1,905		1,646		U.S. Retirement Solutions and Investment Management Division	358		485		(182	)	(975	)	175		564		314		215
908		774		U.S. Individual Life and Group Insurance Division	186		183		339		78		133		243		307		210
1,741		1,506		International Insurance and Investments Division	420		466		487		14		432		476		507		455
(135	)	(7	)	Corporate and other operations	(51	)	(20	)	(40	)	(299	)	(175	)	(168	)	(207	)	(205	)
4,419		3,919		Total pre-tax adjusted operating income (loss)	913		1,114		604		(1,182	)	565		1,115		921		675
1,226		1,062		Income taxes, applicable to adjusted operating income	235		279		182		(304	)	138		306		198		185
3,193		2,857		Financial Services Businesses after-tax adjusted operating income (loss)	678		835		422		(878	)	427		809		723		490
				Reconciling items:
(102	)	85		Realized investment gains (losses), net, and related charges and adjustments	(689	)	(496	)	(567	)	(516	)	(663	)	(868	)	(226	)	44
—		35		Investment gains (losses) on trading account assets supporting insurance liabilities, net	(262	)	(123	)	(534	)	(815	)	145		686		694		76
13		11		Change in experience-rated contractholder liabilities due to asset value changes	200		94		388		481		(45	)	(347	)	(458	)	(49	)
274		151		Divested businesses	(67	)	10		(219	)	(230	)	(32	)	(24	)	25		2,162
(354	)	(304	)	Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests	(36	)	(32	)	213		509		3		14		(92	)	(2,289	)
(169	)	(22	)	Total reconciling items, before income taxes	(854	)	(547	)	(719	)	(571	)	(592	)	(539	)	(57	)	(56	)
(118	)	31		Income taxes, not applicable to adjusted operating income	(196	)	(249	)	(290	)	(167	)	(151	)	(258	)	(343	)	64
(51	)	(53	)	Total reconciling items, after income taxes	(658	)	(298	)	(429	)	(404	)	(441	)	(281	)	286		(120	)
3,142		2,804		Income (loss) from continuing operations (after-tax) of Financial Services Businesses before equity in earnings of operating joint ventures	20		537		(7	)	(1,282	)	(14	)	528		1,009		370
201		190		Equity in earnings of operating joint ventures, net of taxes and earnings from continuing operations attributable to noncontrolling interests	19		16		(134	)	(384	)	5		(12	)	81		1,483
3,343		2,994		Income (loss) from continuing operations attributable to Prudential Financial, Inc.	39		553		(141	)	(1,666	)	(9	)	516		1,090		1,853
45		18		Earnings from continuing operations attributable to noncontrolling interests	24		8		5		(1	)	(11	)	17		(50	)	10
3,388		3,012		Income (loss) from continuing operations (after-tax) of Financial Services Businesses	63		561		(136	)	(1,667	)	(20	)	533		1,040		1,863
127		114		Income (loss) from discontinued operations, net of taxes, attributable to Prudential Financial, Inc.	29		13		23		10		4		22		—		(65	)
22		7		Income (loss) from discontinued operations, net of taxes, attributable to noncontrolling interests.	—		—		—		—		—		—		—		—
3,537		3,133		Net income (loss) of Financial Services Businesses	92		574		(113	)	(1,657	)	(16	)	555		1,040		1,798
67		25		Less: Income (loss) attributable to noncontrolling interests	24		8		5		(1	)	(11	)	17		(50	)	10
3,470		3,108		Net income (loss) of Financial Services Businesses attributable to Prudential Financial, Inc.	68		566		(118	)	(1,656	)	(5	)	538		1,090		1,788
14.87%		13.98%		Operating Return on Average Equity (based on adjusted operating income)	12.11%		15.14%		7.88%		-16.58%		8.71%		15.33%		12.68%		8.09%
				Reconciliation to Consolidated Net Income Attributable to Prudential Financial, Inc:
3,470		3,108		Net income (loss) of Financial Services Businesses attributable to Prudential Financial, Inc. (above)	68		566		(118	)	(1,656	)	(5	)	538		1,090		1,788
192		284		Net income (loss) of Closed Block Business attributable to Prudential Financial, Inc.	(8	)	15		(58	)	74		19		(375	)	(8	)	77
3,662		3,392		Consolidated net income (loss) attributable to Prudential Financial, Inc.	60		581		(176	)	(1,582	)	14		163		1,082		1,865

Page 35

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

RECLASSIFIED FINANCIAL HIGHLIGHTS

(in millions, except per share data)

Years ended December 31				2008								2009
2007		2006		1Q		2Q		3Q		4Q		1Q		2Q		3Q		4Q
			Earnings per share of Common Stock (diluted): (1)
6.92		5.90	Financial Services Businesses after-tax adjusted operating income (loss)	1.54		1.93		1.00		(2.04	)	1.03		1.87		1.57		1.06
			Reconciling items:
(0.22	)	0.17	Realized investment gains (losses), net, and related charges and adjustments	(1.54	)	(1.14	)	(1.32	)	(1.22	)	(1.57	)	(2.00	)	(0.49	)	0.09
—		0.07	Investment gains (losses) on trading account assets supporting insurance liabilities, net	(0.59	)	(0.28	)	(1.25	)	(1.93	)	0.34		1.58		1.49		0.16
0.03		0.02	Change in experience-rated contractholder liabilities due to asset value changes	0.45		0.22		0.91		1.14		(0.11	)	(0.80	)	(0.99	)	(0.10	)
0.59		0.31	Divested businesses	(0.15	)	0.02		(0.51	)	(0.55	)	(0.08	)	(0.06	)	0.05		4.60
—		—	Difference in earnings allocated to participating unvested share-based payment awards	0.01		—		—		—		0.01		0.01		—		(0.03	)
0.40		0.57	Total reconciling items, before income taxes	(1.82	)	(1.18	)	(2.17	)	(2.56	)	(1.41	)	(1.27	)	0.06		4.72
0.08		0.29	Income taxes, not applicable to adjusted operating income	(0.39	)	(0.54	)	(0.86	)	(0.69	)	(0.38	)	(0.60	)	(0.72	)	1.86
0.32		0.28	Total reconciling items, after income taxes	(1.43	)	(0.64	)	(1.31	)	(1.87	)	(1.03	)	(0.67	)	0.78		2.86
7.24		6.18	Income (loss) from continuing operations (after-tax) of Financial Services Businesses attributable to Prudential Financial, Inc.	0.11		1.29		(0.31	)	(3.91	)	—		1.20		2.35		3.92
0.27		0.23	Income (loss) from discontinued operations, net of taxes, attributable to Prudential Financial, Inc.	0.07		0.03		0.06		0.02		0.01		0.05		—		(0.14	)
7.51		6.41	Net income (loss) of Financial Services Businesses attributable to Prudential Financial, Inc.	0.18		1.32		(0.25	)	(3.89	)	0.01		1.25		2.35		3.78
459.8		484.2	Weighted average number of outstanding Common shares (basic)	442.1		431.9		423.8		421.3		422.1		432.9		461.2		461.8
466.2		491.4	Weighted average number of outstanding Common shares (diluted)	446.9		436.5		428.0		423.0		423.2		434.3		464.6		470.3
53		68	Direct equity adjustments for earnings per share calculation	12		14		10		19		11		11		12		9
—		—	Earnings related to interest, net of tax, on exchangeable surplus notes	—		—		—		—		—		—		1		4
			Earnings allocated to participating unvested share-based payment awards for earnings per share calculation
21		24	Financial Services Businesses after-tax adjusted operating income	4		5		3		1		4		10		8		6
22		26	Income from continuing operations (after-tax) of Financial Services Businesses	—		4		—		1		—		6		12		21

(1) Diluted share count used in the diluted earnings per share calculation for GAAP measures is equal to weighted average basic common shares for the three months ended September 30, 2008 and December 31, 2008 as all potential common shares are anti-dilutive due to the loss from continuing operations available to holders of common stock after direct equity adjustment. Diluted share count used in the diluted earnings per share calculation for non-GAAP measures is equal to the weighted average basic common shares for the three months ended December 31, 2008 as all potential common shares are anti-dilutive due to the adjusted operating loss available to holders of common stock after direct equity adjustment.

Page 36

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

RECLASSIFIED COMBINED STATEMENTS OF OPERATIONS - FINANCIAL SERVICES BUSINESSES

(in millions)

Years ended December 31					2008								2009
2007		2006			1Q		2Q		3Q		4Q		1Q		2Q		3Q		4Q
				Revenues (1):
10,794		10,287		Premiums	3,102		2,961		2,798		2,997		3,261		3,320		3,361		3,352
3,122		2,649		Policy charges and fee income	824		809		709		781		734		766		693		840
8,177		7,583		Net investment income	2,103		2,141		2,071		2,095		2,058		2,049		2,051		2,055
4,070		3,451		Asset management fees, commissions and other income	832		890		725		(33	)	1,914		167		462		509
26,163		23,970		Total revenues	6,861		6,801		6,303		5,840		7,967		6,302		6,567		6,756
				Benefits and Expenses (1):
10,829		10,423		Insurance and annuity benefits	3,082		2,944		3,040		3,472		3,464		2,928		3,115		3,202
3,094		2,790		Interest credited to policyholders’ account balances	806		803		853		881		1,086		725		831		818
1,186		1,002		Interest expense	298		246		287		303		247		238		229		241
(2,248	)	(2,037	)	Deferral of acquisition costs	(588	)	(588	)	(559	)	(567	)	(578	)	(641	)	(782	)	(768	)
935		670		Amortization of acquisition costs	338		315		238		512		1,205		(70	)	102		285
7,948		7,203		General and administrative expenses	2,012		1,967		1,840		2,421		1,978		2,007		2,151		2,303
21,744		20,051		Total benefits and expenses	5,948		5,687		5,699		7,022		7,402		5,187		5,646		6,081
4,419		3,919		Adjusted operating income (loss) before income taxes	913		1,114		604		(1,182	)	565		1,115		921		675
				Reconciling items:
(50	)	68		Realized investment gains (losses), net, and related adjustments	(676	)	(537	)	(584	)	(516	)	(707	)	(863	)	(175	)	120
(52	)	17		Related charges	(13	)	41		17		—		44		(5	)	(51	)	(76	)
(102	)	85		Total realized investment gains (losses), net, and related charges and adjustments	(689	)	(496	)	(567	)	(516	)	(663	)	(868	)	(226	)	44
—		35		Investment gains on trading account assets supporting insurance liabilities, net	(262	)	(123	)	(534	)	(815	)	145		686		694		76
13		11		Change in experience-rated contractholder liabilities due to asset value changes	200		94		388		481		(45	)	(347	)	(458	)	(49	)
274		151		Divested businesses	(67	)	10		(219	)	(230	)	(32	)	(24	)	25		2,162
(354	)	(304	)	Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests	(36	)	(32	)	213		509		3		14		(92	)	(2,289	)
(169	)	(22	)	Total reconciling items, before income taxes	(854	)	(547	)	(719	)	(571	)	(592	)	(539	)	(57	)	(56	)
4,250		3,897		Income (loss) from continuing operations before income taxes and equity in earnings of operating joint ventures	59		567		(115	)	(1,753	)	(27	)	576		864		619
1,108		1,093		Income tax expense (benefit)	39		30		(108	)	(471	)	(13	)	48		(145	)	249
3,142		2,804		Income (loss) from continuing operations before equity in earnings of operating joint ventures	20		537		(7	)	(1,282	)	(14	)	528		1,009		370

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments; investment gains, net of losses, on trading account assets supporting insurance liabilities, and revenues of divested businesses, and include revenues representing equity in earnings of operating joint ventures other than those classified as divested businesses. Benefits and expenses exclude charges related to realized investment gains, net of losses; change in experience-rated contractholder liabilities due to asset value changes and benefits and expenses of divested businesses and include charges for income attributable to non controlling interests.

Page 37

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

RECLASSIFIED COMBINED STATEMENTS OF OPERATIONS - INTERNATIONAL INSURANCE AND INVESTMENTS DIVISION

(in millions)

Years ended December 31					2008								2009
2007		2006			1Q		2Q		3Q		4Q		1Q		2Q		3Q		4Q
				Revenues (1):
6,192		5,946		Premiums	1,772		1,736		1,627		1,698		1,899		1,911		2,015		2,053
293		286		Policy charges and fee income	87		82		83		90		99		91		90		94
1,619		1,411		Net investment income	454		500		509		523		529		506		563		564
602		449		Asset management fees, commissions and other income	128		111		115		(237	)	85		101		74		93
8,706		8,092		Total revenues	2,441		2,429		2,334		2,074		2,612		2,609		2,742		2,804
				Benefits and Expenses (1):
4,907		4,682		Insurance and annuity benefits	1,413		1,360		1,279		1,325		1,501		1,465		1,572		1,601
330		251		Interest credited to policyholders’ account balances	100		101		106		109		119		110		123		128
19		10		Interest expense	2		3		1		2		1		1		1		1
(1,057	)	(1,007	)	Deferral of acquisition costs	(294	)	(299	)	(281	)	(299	)	(309	)	(299	)	(302	)	(338	)
486		454		Amortization of acquisition costs	160		152		144		182		202		214		175		207
2,280		2,196		General and administrative expenses	640		646		598		741		666		642		666		750
6,965		6,586		Total benefits and expenses	2,021		1,963		1,847		2,060		2,180		2,133		2,235		2,349
1,741		1,506		Adjusted operating income before income taxes	420		466		487		14		432		476		507		455

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments, investment gains, net of losses, on trading account assets supporting insurance liabilities and include revenues representing equity in earnings of operating joint ventures. Benefits and expenses exclude charges related to realized investment gains, net of losses and change in experience-rated contractholder liabilities due to asset value changes and include charges for income attributable to non controlling interests.

Page 38

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

RECLASSIFIED COMBINED STATEMENTS OF OPERATIONS - INTERNATIONAL INVESTMENTS SEGMENT

(in millions)

Years ended December 31			2008					2009
2007	2006		1Q	2Q	3Q	4Q		1Q	2Q	3Q	4Q
		Revenues (1):
—	—	Premiums	—	—	—	—		—	—	—	—
—	—	Policy charges and fee income	—	—	—	—		—	—	—	—
11	17	Net investment income	6	8	7	8		3	—	1	—
437	340	Asset management fees, commissions and other income	110	92	101	(239	)	72	76	73	76
448	357	Total revenues	116	100	108	(231	)	75	76	74	76
		Benefits and Expenses (1):
—	—	Insurance and annuity benefits	—	—	—	—		—	—	—	—
—	—	Interest credited to policyholders’ account balances	—	—	—	—		—	—	—	—
6	1	Interest expense	1	1	1	—		—	—	—	—
—	—	Deferral of acquisition costs	—	—	—	—		—	—	—	—
—	—	Amortization of acquisition costs	—	—	—	—		—	—	—	—
299	278	General and administrative expenses	108	86	80	176		68	65	67	74
305	279	Total benefits and expenses	109	87	81	176		68	65	67	74
143	78	Adjusted operating income (loss) before income taxes	7	13	27	(407	)	7	11	7	2

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments, investment gains, net of losses, on trading account assets supporting insurance liabilities and include revenues representing equity in earnings of operating joint ventures. Benefits and expenses exclude charges related to realized investment gains, net of losses and change in experience-rated contractholder liabilities due to asset value changes and include charges for income attributable to non controlling interests.

Page 39

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

RECLASSIFIED COMBINED STATEMENTS OF OPERATIONS - CORPORATE AND OTHER OPERATIONS

(in millions)

Years ended December 31					2008								2009
2007		2006			1Q		2Q		3Q		4Q		1Q		2Q		3Q		4Q
				Revenues (1):
(9	)	(19	)	Premiums	(4	)	(2	)	(3	)	(1	)	(3	)	(8	)	2		(2	)
(29	)	(29	)	Policy charges and fee income	(1	)	(6	)	(18	)	(6	)	(7	)	(6	)	(7	)	(19	)
759		790		Net investment income	181		143		141		114		30		79		63		69
(195	)	(107	)	Asset management fees, commissions and other income	(81	)	(50	)	(56	)	(67	)	(41	)	(65	)	(61	)	(56	)
526		635		Total revenues	95		85		64		40		(21	)	—		(3	)	(8	)
				Benefits and Expenses (1):
39		44		Insurance and annuity benefits	22		18		32		123		45		(16	)	7		7
(126	)	(77	)	Interest credited to policyholders’ account balances	(43	)	(46	)	(51	)	(52	)	(47	)	(31	)	(22	)	(21	)
661		615		Interest expense	178		142		181		185		170		174		172		186
51		64		Deferral of acquisition costs	15		16		9		6		5		11		10		13
(47	)	(43	)	Amortization of acquisition costs	(10	)	(8	)	(9	)	(18	)	(11	)	(7	)	1		(15	)
83		39		General and administrative expenses	(16	)	(17	)	(58	)	95		(8	)	37		36		27
661		642		Total benefits and expenses	146		105		104		339		154		168		204		197
(135	)	(7	)	Adjusted operating loss before income taxes	(51	)	(20	)	(40	)	(299	)	(175	)	(168	)	(207	)	(205	)

(1) Revenues exclude realized investment gains, net of losses and related charges and adjustments; investment gains, net of losses, on trading account assets supporting insurance liabilities, and revenues of divested businesses, and include revenues representing equity in earnings of operating joint ventures other than those classified as divested businesses. Benefits and expenses exclude charges related to realized investment gains, net of losses; change in experience-rated contractholder liabilities due to asset value changes and benefits and expenses of divested businesses and include charges for income attributable to non controlling interests.

Page 40

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

KEY DEFINITIONS AND FORMULAS

1. Adjusted operating income before income taxes:

Adjusted operating income is a non-GAAP measure of performance of our Financial Services Businesses that excludes “Realized investment gains (losses), net”, as adjusted, and related charges and adjustments; net investment gains and losses on trading account assets supporting insurance liabilities; change in experience-rated contractholder liabilities due to asset value changes; results of divested businesses and discontinued operations; earnings attributable to noncontrolling interests; and the related tax effects thereof. Adjusted operating income includes equity in earnings of operating joint ventures and the related tax effects thereof. Revenues and benefits and expenses shown as components of adjusted operating income, are presented on the same basis as pre-tax adjusted operating income and are adjusted for the items above as well.

Realized investment gains (losses) within certain of our businesses for which such gains (losses) are a principal source of earnings, and those associated with terminating hedges of foreign currency earnings and current period yield adjustments are included in adjusted operating income. Realized investment gains and losses from products that are free standing derivatives or contain embedded derivatives, and from associated derivative portfolios that are part of an economic hedging program related to the risk of those products, are included in adjusted operating income. Adjusted operating income excludes gains and losses from changes in value of certain assets and liabilities relating to foreign currency exchange movements that have been economically hedged, as well as gains and losses on certain investments that are classified as other trading account assets and debt that is carried at fair value.

Adjusted operating income does not equate to “Income from continuing operations” as determined in accordance with GAAP but is the measure of profit or loss we use to evaluate segment performance. Adjusted operating income is not a substitute for income determined in accordance with GAAP, and our definition of adjusted operating income may differ from that used by other companies. The items above are important to an understanding of our overall results of operations. However, we believe that the presentation of adjusted operating income as we measure it for management purposes enhances the understanding of our results of operations by highlighting the results from ongoing operations and the underlying profitability factors of our businesses.

2. After-tax adjusted operating income:

Adjusted operating income before taxes, as defined above, less the income tax effect applicable to adjusted operating income before taxes.

3. Annualized New Business Premiums:

Premiums from new sales that are expected to be collected over a one year period. Group insurance annualized new business premiums exclude new premiums resulting from rate changes on existing policies, from additional coverage issued under our Servicemembers’ Group Life Insurance contract, and from excess premiums on group universal life insurance that build cash value but do not purchase face amounts. Group insurance annualized new business premiums include premiums from the takeover of claim liabilities. Group disability amounts include long-term care products. Excess (unscheduled) and single premium business for the company’s domestic individual life and international insurance operations are included in annualized new business premiums based on a 10% credit.

4. Assets Under Management:

Fair market value or account value of assets which Prudential manages directly in proprietary products, such as mutual funds and variable annuities, in separate accounts, wrap-fee products and the general account, and assets invested in investment options included in the Company’s products that are managed by third party sub-managers (i.e., the non-proprietary investment options in the Company’s products).

5. Attributed Equity:

Amount of capital assigned to each of the Company’s segments for purposes of measuring segment adjusted operating income before income taxes, established at a level which management considers necessary to support the segment’s risks. Attributed equity for the Financial Services Businesses represents all of the Company’s equity that is not included in the Closed Block Business or attributable to noncontrolling interests.

6. Book value per share of Common Stock:

Equity attributed to Financial Services Businesses divided by the number of Common shares outstanding at end of period, on a diluted basis.

7. Borrowings - Capital Debt:

Borrowings that are or will be used for capital requirements at Prudential Financial, Inc as well as borrowings invested in equity or debt securities of direct or indirect subsidiaries of Prudential Financial, Inc., and subsidiary borrowings, utilized for capital requirements.

8. Borrowings - Investment Related:

Debt issued to finance specific investment assets or portfolios of investment assets, including institutional spread lending investment portfolios, real estate, and real estate related investments held in consolidated joint ventures, as well as institutional and insurance company portfolio cash flow timing differences.

9. Borrowings - Securities Business Related:

Debt issued to finance primarily the liquidity of our broker-dealers, and our capital markets and other securities business related operations including our discontinued commercial mortgage conduit related activities.

10. Borrowings - Specified Other Businesses:

Borrowings associated with consumer banking activities, the individual annuity business, real estate franchises, and relocation services.

Page 41

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

KEY DEFINITIONS AND FORMULAS

11. Client Assets:

Fair market value of assets in client accounts of International brokerage operations, Prudential Bank and mortgage loan servicing business, that are not included in Assets Under Management. Prudential does not receive a management or administrative fee on these assets, but may receive a fee for executing trades, custody or recordkeeping services.

12. Earned Premiums:

The portion of a premium, net of any amount ceded, that represents coverage already provided or that belongs to the insurer based on the part of the policy period that has passed.

13. Earnings Per Share of Common Stock:

Net income (loss) for the Financial Services Businesses and the Closed Block Business is determined in accordance with GAAP and includes general and administrative expenses charged to each of the businesses based on the Company’s methodology for the allocation of such expenses. Cash flows between the Financial Services Businesses and the Closed Block Business related to administrative expenses are determined by a policy servicing fee arrangement that is based upon insurance and policies in force and statutory cash premiums. To the extent reported administrative expenses vary from these cash flow amounts, the differences are recorded, on an after-tax basis, as direct equity adjustments to the equity balances of each business. The direct equity adjustments modify earnings available to holders of Common Stock and Class B Stock for earnings per share purposes. Earnings per share of Common Stock based on adjusted operating income (loss) of the Financial Services Businesses reflects these adjustments as well.

14. Full Service:

The Full Service line of business provides retirement plan products and services to public, private and not-for-profit organizations. This business provides recordkeeping, plan administration, actuarial advisory services, participant education and communication services, trustee services and institutional and retail investment funds. This business mainly services defined contribution and defined benefit plans; non-qualified plans are also serviced. For clients with both defined contribution and defined benefit plans, integrated recordkeeping services are available. For participants leaving these plans, a range of rollover products are provided through a broker-dealer bank.

15. Full Service Stable Value:

Our Full Service Stable Value products represent fixed rate options on investment funds offered to customers. These products contain an obligation to pay interest at a specified rate for a specific period of time. Upon termination these products repay account balances at market value immediately or may be liquidated at book value over time. Substantially all of these products are either fully or partially participating, with annual or semi-annual resets giving effect to previous investment experience. These products are issued through the general account, separate accounts or client-owned trusts. Profits from partially participating general account products result from the spread between the rate of return on investment assets and the interest rates credited to the customer, less expenses. For fully participating products, generally subject to a minimum interest rate guarantee, we earn fee income.

16. General Account:

Invested assets and policyholder liabilities and reserves for which the Company bears the investment risk. Excludes assets recognized for statutory purposes that are specifically allocated to a separate account. General account assets also include assets of the parent company, Prudential Financial, Inc.

17. Gibraltar Life Advisors:

Insurance representatives for Gibraltar Life.

18. Group Life Insurance and Group Disability Insurance Administrative Operating Expense Ratios:

Ratio of administrative operating expenses (excluding commissions) to gross premiums, policy charges and fee income.

19. Group Life Insurance and Group Disability Insurance Benefits Ratios:

Ratio of policyholder benefits to earned premiums, policy charges and fee income.

20. Individual Annuity Account Values in General Account and Separate Account:

Amounts represent the breakdown of invested customer funds in annuities either written or reinsured by the Company.

21. Individual Annuities - Net Amounts at Risk:

Living Benefit Features - For guarantees of benefits that are payable at annuitization, the net amount at risk is generally defined as the present value of the minimum guaranteed annuity payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. For guarantees of benefits that are payable at withdrawal, the net amount at risk is generally defined as the present value of the minimum guaranteed withdrawal payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. For guarantees of accumulation balances, the net amount at risk is generally defined as the guaranteed minimum accumulation balance minus the current account balance.

Death Benefit Features - Net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.

Page 42

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

KEY DEFINITIONS AND FORMULAS

22. Insurance and Annuity Benefits:

Total death benefits, annuity benefits, disability benefits, other policy benefits, and losses paid or incurred, under insurance and annuity contracts, plus the change in reserves for future policy benefits, losses and loss adjustment expenses.

23. International Life Planners:

Insurance agents in our insurance operations outside the United States, excluding Gibraltar Life Advisors. Excludes Life Planners associated with discontinued Philippine operations.

24. Non-recourse and Limited-recourse Debt:

Limited and non-recourse borrowing is where the holder is entitled to collect only against the assets pledged to the debt as collateral or has only very limited rights to collect against other assets.

25. Operating return on average equity (based on adjusted operating income):

Adjusted operating income after-tax (giving effect to the direct equity adjustment for earnings per share calculation), annualized for interim periods, divided by average attributed equity for the Financial Services Businesses excluding accumulated other comprehensive income related to unrealized gains and losses on investments and pension/postretirement benefits.

An alternative measure to operating return on average equity (based on adjusted operating income) is return on average equity (based on income from continuing operations). Return on average equity (based on income from continuing operations) represents income from continuing operations after-tax attributable to Prudential Financial, Inc. as determined in accordance with GAAP (giving effect to the direct equity adjustment for earnings per share calculation), annualized for interim periods, divided by average total attributed equity for the Financial Services Businesses. Return on average equity (based on income from continuing operations) is 8.79% for the three months ended March 31, 2010, 31.43% for the three months ended December 31, 2009, 21.03% for the three months ended September 30, 2009, 12.76% for the three months ended June 30, 2009 and 0.06% for the three months ended March 31, 2009.

26. Policy Persistency - Group Insurance:

Percentage of the premiums in force at the end of the prior year that are still in force at the end of the period (excluding Servicemembers’ Group Life Insurance and Prudential Employee Benefit Plan).

27. Policy Persistency - International Insurance:

13 month persistency represents the percentage of policies issued that are still in force at the beginning of their second policy year. 25 month persistency represents the percentage of policies issued that are still in force at the beginning of their third policy year.

28. Prudential Agents:

Insurance agents in our insurance operations in the United States.

29. Prudential Agent productivity:

Commissions on new sales of all products by Prudential Agents under contract for the entire period, divided by the number of those Prudential Agents. Excludes commissions on new sales by Prudential Agents hired or departed during the period. For interim reporting periods, the productivity measures are annualized.

30. Ratio of capital debt to total capitalization:

For the purposes of this ratio, we measure “debt” as the sum of senior debt supporting capital needs and 25% of Junior Subordinated Notes supporting capital needs, and we measure “total capitalization” as the sum of senior debt supporting capital needs, 100% of Junior Subordinated Notes supporting capital needs, and attributed equity of the Financial Services Businesses excluding accumulated other comprehensive income related to unrealized gains and losses on investments and pension / postretirement benefits.

31. Separate Accounts:

Assets of our insurance companies allocated under certain policies and contracts that are segregated from the general account and other separate accounts. The policyholder or contractholder predominantly bears the risk of investments held in a separate account.

32. Wrap-Fee Products:

Investment products generating asset-based fees in which the funds of the customer are generally invested in other investment products such as mutual funds.

Page 43

Prudential Financial, Inc. Quarterly Financial Supplement First Quarter 2010

RATINGS AND INVESTOR INFORMATION

FINANCIAL STRENGTH RATINGS

as of May 5, 2010

	A.M. Best	Standard & Poor’s	Moody’s	Fitch Ratings
The Prudential Insurance Company of America	A+	AA-	A2	A+
PRUCO Life Insurance Company	A+	AA-	A2	A+
PRUCO Life Insurance Company of New Jersey	A+	AA-	NR *	A+
Prudential Annuities Life Assurance Corporation	A+	AA-	NR	A+
Prudential Retirement Insurance and Annuity Company	A+	AA-	A2	A+
The Prudential Life Insurance Co., Ltd. (Prudential of Japan)	NR	AA-	NR	NR
Gibraltar Life Insurance Company, Ltd.	NR	AA-	A2	NR
CREDIT RATINGS:
as of May 5, 2010
Prudential Financial, Inc.:
Short-Term Borrowings	AMB-1	A-1	P-2	F2
Long-Term Senior Debt (1)	a-	A	Baa2	BBB
Junior Subordinated Long-Term Debt	bbb	BBB+	Baa3	BB+
The Prudential Insurance Company of America:
Capital and surplus notes	a	A	Baa1	A-
Prudential Funding, LLC:
Short-Term Debt	AMB-1	A-1+	P-2	F1
Long-Term Senior Debt	a+	AA-	A3	A
PRICOA Global Funding I
Long-Term Senior Debt	aa-	AA-	A2	A+

* NR indicates not rated.

(1) Includes the retail medium-term notes program.

INVESTOR INFORMATION:

Corporate Offices:	Investor Information Hotline:
Prudential Financial, Inc.	Dial 877-998-ROCK for additional printed information or inquiries.
751 Broad Street
Newark, New Jersey 07102	Web Site:
	www.prudential.com

Common Stock:

Common Stock of Prudential Financial, Inc. is traded on the New York Stock Exchange under the symbol PRU.

Page 44