05:37 AM EDT, 06/24/2024 (MT Newswires) -- Prudential (PUK) said Sunday it has launched a $2 billion share buyback program and is starting the first $700 million tranche.

The overall buyback program will end no later than the middle of 2026.

Under the terms of the buyback, which was granted shareholder approval at the company's 2024 annual general meeting, the pace and timing of the share repurchases on the London Stock Exchange or other venues will be subject to market conditions and other considerations.

The company said the first tranche will be conducted by Goldman Sachs (GS) and will end on Dec. 27 at the latest.