Celebrating 170 years of heritage
Prudential was founded in 1848 to provide professional people with loans secured by life assurance. This market broadened during the second half of the nineteenth century with the opening of the Industrial Branch, which sold insurance policies for weekly premiums of a penny upward to the working classes through a network of agents.
The company was established as The Prudential Mutual Assurance Investment and Loan Association. This was shortened after a series of acquisitions to The Prudential Assurance Company (PAC) in 1867.
PAC became a limited company in 1881, following the Limited Liability Act (1880). At this time the company was owned by fewer than 100 shareholders and most of these were related to the directors. Prudential grew rapidly and by the 1900s the company insured one third of the UK population.
New policies for single women, family and home protection were introduced following the First World War. Prudential shares were floated on the London Stock Exchange in 1924, and a further range of products was initiated in 1929 with the establishment of group pensions.
During the 1950s and 1960s, Prudential focused on life cover, long-term savings products and retirement annuities. By the 1970s Prudential had established a wide range of assurance, investment and savings products.
Prudential’s international business continued to grow rapidly through the latter part of the 20th century. In 1986, Prudential gained a firm foothold in the United States with the acquisition of Jackson National Life Insurance Company, and Prudential Corporation Asia was established in 1994 in recognition of the high potential for growth in Asia. In more recent years, Prudential has entered the fast-growing African life insurance industry.
Today, Prudential plc combines the exciting growth potential of our Asia, US and Africa businesses as a leading international insurance and asset management group. The Company remains headquartered and premium listed in London. Across the world, Prudential continues to help people de-risk their lives and deal with their biggest financial concerns.
In 1964, Prudential began providing insurance products in Hong Kong. Since then, the operations have grown from strength to strength and established Prudential as a leading financial services brand, offering high quality life and general insurance products to protect over 1 million customers in Hong Kong.
Today, Prudential’s long-standing, deep commitment to Hong Kong continues through two locally-incorporated companies: Prudential Hong Kong Limited (PHKL) and Prudential General Insurance Hong Kong Limited (PGHK). PHKL offers a broad range of financial protection, health protection and retirement planning products, while PGHK is dedicated to delivering a wide range of general insurance and employee benefits for our customers.
To learn more about our history, please visit: http://www.prudentialhistory.co.uk/?lang=EN
1 Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
2 As at 31 December 2018.