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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 ranked No. 52 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. [38] As of 2019, Prudential is the largest insurance provider in the United States with $815.1 billion in total assets. [39] See also the article on the Prudential Spirit of Community Award.
In October 2004, Prudential launched a new subsidiary, PruHealth, a joint venture with Discovery Holdings of South Africa selling private medical insurance to the UK market. [28] In April 2008, Prudential outsourced its back office functions to Capita: about 3,000 jobs were transferred (1,000 in Stirling, 750 in Reading and 1,250 in Mumbai). [29]
The Prudential Insurance headquarters are prominent buildings within the Four Corners Historic District. The American Insurance Company was incorporated February 20, 1846, and commenced business on April 1, 1846. [8] The company maintained offices downtown on Broad Street and later Park Place. [9] A new home office was completed in 1930.
One Prudential Plaza (formerly known as the Prudential Building) is a 41-story structure in Chicago completed in 1955 as the headquarters for Prudential's Mid-America company. It was the first skyscraper built in Chicago since the Great Depression of the 1930s and the Second World War.
Servicemembers' Group Life Insurance (SGLI) is a life insurance program available to all active duty and reserve members of the uniformed services of the United States. Supervised by the United States Department of Veterans Affairs , the program is administered by the Prudential Insurance Company of America.
PGIM is currently one of the 10 largest asset managers in the world, with more than 1,100 investment professionals working for the company across 31 offices. [5] The firm is headquartered in the Prudential Tower in Newark, New Jersey, which currently houses approximately 3,000 employees from a variety of PGIM's investment management divisions.
Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services. Prior to being spun off in 2021, Jackson was a subsidiary of the British insurer, Prudential plc, which acquired the company for $608 million in 1986. [2] The company is unrelated to the American insurance conglomerate, Prudential Financial.