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Prudential Group Insurance manufactures and distributes a full range of group life, long-term and short-term disability, and corporate and trust-owned life insurance in the U.S. to institutional ...
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 Group Insurance manufactures and distributes a full range of group life, long-term and short-term disability, and corporate and trust-owned life insurance in the U.S. to institutional ...
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.
In 1997, Prudential acquired Scottish Amicable, a business founded in 1826 in Glasgow as the West of Scotland Life Insurance Company, for £1.75 bn. [21] In 1998, Prudential set up Egg, an internet bank in the UK. The subsidiary reached 550,000 customers within nine months, but had difficulty achieving profitability. [22]
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