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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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Hence, on its 129th anniversary, headed by CEO and Benedict Sison, it remained the top life insurance company for 13 consecutive years with P55.79 billion in Total Premium Income. [44] Prudential plc Pru Life UK, however, later became top life insurance seller in 2023, and bested Sun Life of Canada Philippines by P472 million. [45]
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]
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In November 2014, Discovery bought the remaining 25% stake in PruHealth from Prudential, [11] making Discovery the sole owner of the company. Discovery immediately re-branded PruHealth as VitalityHealth, and its sister company PruProtect as VitalityLife, both under the Vitality umbrella brand.