Prudential plans to exit portions of its international footprint and shift resources toward faster-growing areas, including investment management, group benefits, and retirement. The strategy aims to transform the business into a higher-growth, less market-sensitive, and more capital-efficient firm. We like the steps taken so far, including reinsuring a portion of the traditional variable annuity portfolio and guaranteed universal life policies. Despite these risk-reducing moves, we don't believe Prudential will achieve significantly higher profits over the long run.