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Investor Presentaiton

JAPANESE INSURANCE MARKET REMAINS HIGHLY ATTRACTIVE Global Life Insurance Market(1) JAPAN RANK 2nd Household Wealth • MARKET SHARE 13.5% LIFE PREMIUMS ¥38.4 trillion $354 billion Investable Asset Pool Retirement Market Product Trend • Market Opportunities Household sector wealth ¥1,880 trillion ($17 trillion) (2) ¥961 trillion ($9 trillion) household pool of currency and deposits is among the world's largest (2) Expansion driven by aging population, increased emphasis on individual responsibility for financial security Customers prefer insurance products to equities for savings and investments, and have interest in non-yen products Distribution Trend • Captive agents remain most significant distribution channel • Banks and independent distributors have growing distribution opportunities 1) Source: Swiss Re - World Insurance in 2017, based on 2016 life insurance premiums. The market share is calculated in U.S. dollars. 2) Source: Bank of Japan (data as of December 2017). Translated to U.S. dollars at uniform currency exchange rate (Japanese yen 111 per U.S. dollar). Prudential Tokyo Investor Day 9.27.2018 3
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