Prudential was founded 1848 to provide professional people with loans secured by life assurance. This market broadened during the second half of the nineteenth century when insurance policies – penny premiums collected by agents – were sold to the working classes. Industrial insurance was an insurance innovation: Prudential combined actuarial methods (until then solely applied to the middle and upper classes) with the traditional friendly society and burial club method of direct selling through agents.
Prudential grew extremely quickly following the introduction of its Industrial Branch and by the 1900s the company insured one third of the UK population.
Established as the Prudential Mutual Assurance and Loan Association in 1848, today we are an international retail financial services company with significant operations in Asia, the US and the UK. Our purpose is to promote the financial well-being of our customers and their families, with a particular focus on saving for retirement and security in retirement. Worldwide we employ over 27,000 people and our shareholders number 75,438 (at 31 December 2008). We are listed on the London and New York stock exchanges.
The Group is structured around four main business units: Prudential Corporation Asia, Jackson National Life Insurance Company, Prudential UK & Europe and M&G. These are supported by central functions which are responsible for leading Group strategy, cash and capital management, leadership development and succession, reputation management and other core Group functions.
Our portfolio of well-known and respected brands has attracted more than 21 million customers (and policy holders and unit holders) worldwide. Across the Group we have £249 billion of funds under management (at 31 December 2008).
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