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In 1997, Prudential settled a class action lawsuit by millions of its customers who had been sold unnecessary life insurance by Prudential agents over a 13-year period ending in 1995. The settlement called for Prudential to repay an estimated $2 billion to customers through direct refunds and enhancements to existing policies.
Prudential were the inaugural sponsor of RideLondon, an annual two-day cycling festival, held for the first time in 2013. The 2017 Prudential RideLondon-Surrey 100 set a new fundraising record for the event, with £12.75 million raised for charity, bringing the total raised by the event to more than £53 million in its first five years. [51]
Founded as the Travellers Life Assurance Company of Canada; name changed in 1924. Merged into Empire Life. Mutual Life Assurance Company: 1868 2002 Renamed Clarica Life in 2000. Acquired by Sun Life in 2002. National Life Assurance Company of Canada 1897 2005 Merged into Industrial Alliance Insurance North American Life Assurance Company: 1881 1995
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Founded in 1969, Jennison Associates is the fundamental equity investment arm of PGIM, with $194 billion in assets under management as of April 2024. [8] The firm also invests in active fixed income, with approximately 30% of its total AUM invested in non-equity securities. [9] Jennison has offices in New York and Boston. [10]
During the 1980s and 1990s, Prudential Securities Incorporated, was investigated by the Securities and Exchange Commission (SEC) for suspected fraud. [5] During the investigation, it was found that PSI had defrauded investors of close to $8 billion, the largest fraud found by the SEC in US history to that point. [6]
Prudential Financial is based in Newark, New Jersey, United States. It began as The Widows and Orphans Friendly Society in 1875, and for a short time it was called the Prudential Friendly Society. For many years after 1877 it was known as the Prudential Insurance Company of America, [1] a name still widely in use.
Prudential Center (disambiguation), several structures in the United States; Prudential Headquarters, several buildings in Newark, New Jersey, US; Prudential House, a skyscraper in Warsaw, Poland; Prudential Tower, a skyscraper in Boston, Massachusetts, US Prudential station, an underground light rail stop; Prudential Tunnel, a highway tunnel