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Prudential plc is a United Kingdom based financial services company. The company has around 20 million customers worldwide. As well as the UK arm of its operations it has operations in 12 countries in Asia and owns Jackson National Life in the U.S. It is also the majority stakeholder in the Egg Internet bank
Within the UK the company's business includes the sale of general insurance (household, car), pensions, annuities, savings and investments (bonds, ISAs). They are particularly well-known for the sale of with-profit bonds and pensions, corporate pension schemes, bulk annuities and individual annuities.
There are currently 13 people on the board of directors. Key individuals are listed below:
| Chairman of Board of Directors | David Clementi |
| Group Chief Executive | Jonathan Bloomer |
| Chief Financial Director | Philip Broadley |
| President & Chief Executive Officer for Jackson National Life | Clark Manning |
| Chief Executive of M&G | Michael McLintock |
| Chief Executive of Prudential Corporation Asia | Mark Norbom |
| Chief Executive of UK & European Insurance Operations | Mark Wood |
Prudential plc was founded 30 May, 1848 in Hatton Garden, London as The Prudential Mutual Assurance Investment and Loan Association. It began by providing loans to professionals secured through life assurance. The company became The Prudential Assurance Company in 1867Events January 8 African-American men granted the right to vote in the District of Columbia January 11 Benito Juarez becomes Mexican president again January 30 Emperor Komei of Japan dies. Crown Prince Mutsuhito is expected to become the next Emperor of J and a limited companyA limited company Ltd. is a company whose practices are limited by English law. There are three main types of limited companies: private limited company by shares, private limited company by guarantee (see also private limited company) and public limited in 1881Events January 16- 24 ? Siege of Geok Tepe ? Russian troops under general Skobeleff defeat Turkomans January 25 Thomas Edison and Alexander Graham Bell form the Oriental Telephone Company February 5 Phoenix, Arizona is incorporated. February 13 First issu following the introduction of the Limited Liability Act 1880Events January 1 Construction of the Panama Canal begins February 2 The first electric streetlight is installed in Wabash, Indiana February 13 Thomas Edison becomes the second person to observe the Edison Effect. February 17 Bomb explodes in Winter Palace and floated on the London Stock ExchangeThe London Stock Exchange (abbreviated LSE is a stock exchange market located in London. Founded in 1801, it is one of the largest stock exchanges in the world, with many overseas listings as well as UK companies. The former Stock Exchange Tower, based in in 1924Centuries: 19th century 20th century 21st century Decades: 1870s 1880s 1890s 1900s 1910s 1920s 1930s 1940s 1950s 1960s 1970s Years: 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 See also 1924 in aviation 1924 in film 1924 in literature 1924 in mu.
In 1858Events January 14 Felice Orsini and his accomplices fail to assassinate Napoleon III in Paris but their bombs kill 156 bystanders. Because of the involvement of French emigres living in Britain, there is a brief anti-British feeling in France but the empe they began selling the relatively new concept of industrial branch insurance policies to the working class population for premiums as low as one penny through agents acting as door to door salesmen. This was a successful policy for Prudential at the time and despite competition from more established assurance companies the Prudential insured approximately one-third of the UK population in the early 1900sCenturies: 19th century 20th century 21st century Decades: 1850s 1860s 1870s 1880s 1890s 1900s 1910s 1920s 1930s 1940s 1950s Years: 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 Events and Trends Technology Orville and Wilbur Wright make the first doc.
Prudential stayed focused on branch-based sales while the products shifted from traditional whole-of-life policies to group pensions and an increasing popularity of With Profits products. In recent years the Prudential has become concentrated in specialist areas, particularly With Profits and Annuities where it holds a significant market share. Its takeover of Scottish Amicable lead to a concentration in the Independent Financial Advisor (IFA) market and the reduction of the direct customer sales more attributed to the "man from the Pru" concept.
It restructured into a holding company called Prudential Corporation Plc in 1978 after the acquisition of Vanbrugh Life and M&G Reinsurance amongst others. On 1st October 1999 a name change resulted in Prudential Plc for ease of recognition and overseas expansion. In June 2000 the company listed on the New York Stock Exchange to help focus on the US market.
Prudential is the largest UK life insurer in Asia and has had a presence in the continent since 1923 when an overseas agency for life insurance was created in India. As CITIC Prudential Life they were the first UK company to re-establish life business in China in 2000.
Prudential has made a number of significant acquisitions in its history. Jackson National Life was purchased in 1986. It was named after Andrew Jackson, the seventh President of the United States of America and first started business in 1961 at Jackson, Michigan. In 1997 Scottish Amicable was acquired after demutualisation. It was originally the West of Scotland Life Insurance Company and was founded in Glasgow, Scotland in 1826.
In 1998 Prudential set up Egg, an Internet bank within the UK. The subsidiary reached £5 billion in deposits and 500,000 customers within six months but did not reach profitability until the end of 2001. In June 2000 an initial public offering of 20% was made to allow for further growth of the company but a failed attempt to gain market share in France with the takeover of Zebank in 2002 led to a pull out in 2004 and a failed attempt by Prudential to sell the bank.
Prudential Financial is one of the top 10 companies for working mothers in 2004 according to Working Mother Media.
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