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The largest life insurance company in the UK: Prudential (PUK) (1848)

Prudential plc (NYSE: PUK, LSE: PRU, SEHK: 2378) was founded in 1848 and is headquartered in London, England. With 22,498 full-time employees, it is the largest life insurance company in the UK.

Prudential plc Logo

Prudential plc (PUK):

The Prudential Group was founded on May 30, 1848 as The Prudential Mutual Assurance Investment and Loan Association, and its business was mainly life insurance. After the establishment of Prudential Insurance in the United Kingdom, its business developed rapidly. In early 1890, it became the largest life insurance company in the UK, providing comprehensive protection for the British people, and it still ranks first.

Prudential plc and its subsidiaries provide a series of retail financial products and services, and asset management services to individuals and businesses in Asia, Europe, the United States and the United Kingdom. Prudential provides health, disability, critical illness and accident insurance products, as well as long-term deposits and retirement products to retail and institutional customers, as well as term annuities, variable annuities, and institutional products, including guaranteed investment contracts, fund agreements and medium-term notes Fund agreement.

Branches of Prudential plc (PUK):

  • Prudential UK, Europe & Africa
  • M&G
  • Prudential Corporation Asia
  • Jackson National Life Insurance Company

History of Prudential plc (PUK):

  • On May 30, 1848, The Prudential Mutual Assurance Investment and Loan Association was established as the predecessor of the British Baocheng Insurance Group;
  • In 1879, the headquarters moved to Holborn Bars;
  • In 1881, the company was reorganized into a limited company;
  • In 1986, Prudential acquired the American insurance company Jackson National Life;
  • In 1997, Prudential acquired the insurance company Scottish Amicable (founded in 1826, formerly known as West of Scotland Life Insurance Company) for 1.75 billion pounds;
  • In 1998, Prudential established the Internet bank Egg Banking (Egg Banking IPO in June 2000, Prudential sold 21% of the shares, and then acquired it back to privatize it, and sold it to Citibank in January 2007 );
  • In 1999, Prudential acquired the British asset management company M&G Investments;
  • In June 2000, Prudential IPO was listed on the New York Stock Exchange;
  • In October 2004, Prudential and Discovery Holdings of South Africa established a joint venture company-PruHealth (now VitalityHealth) to provide private medical insurance services in the UK market;
  • On March 1, 2010, Prudential announced in-depth negotiations to acquire AIG ‘s pan-Asian life insurance company, AIA (American International Assurance, AIA) for approximately 23 billion pounds , but the transaction fell through and AIA IPO;
  • In December 2013, Prudential announced the acquisition of Express Life Company and renamed it Prudential Ghana;
  • In September 2014, Prudential acquired Kenyan life insurance company Shield Assurance;
  • On March 10, 2015, Prudential announced that CEO Tidjane Thiam would leave the company to Credit Suisse . On May 1, the same year, Mike Wells took over as CEO.
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