Prudential Financial Inc was founded in New Jersey in 1875 by John F. Dryden. It was originally called The Widows and Orphans Friendly Society, and then the Prudential Friendly Society. At the beginning the company’s only product was burial insurance.
By the turn of the century, Prudential was making the bulk of its profits selling industrial life insurance door-to-door. Industrial workers paid double what others paid for life insurance because of the danger involved in their work. High lapse rates meant that only one in twelve policies reached maturity.
Today Prudential Financial is a financial services company. With its subsidiaries, the company provides insurance, investment management, life insurance, annuities, mutual funds, pension and retirement investments, securities, asset management, and brokerage services in more than 30 countries.
In August 2023, the company states that it was hacked via a third-party vendor and that as many as 320,000 customers may have been compromised.
Stock investors in the company have seen amazing ROIs, with some reaping as much as a 64% return.
Prudential is a Fortune 500 company, that has been publicly traded since 2001, is composed of hundreds of subsidiaries with $2 trillion of life insurance, has over 40,000 employees, and had $70.934 billion in revenue in 2021.
Prudential maintains a corporate office in Newark, New Jersey.
Prudential Financial Inc was founded in New Jersey in 1875 by John F. Dryden. It was originally called The Widows and Orphans Friendly Society, and then the Prudential Friendly Society. At the beginning the company’s only product was burial insurance.
History
By the turn of the century, Prudential was making the bulk of its profits selling industrial life insurance door-to-door. Industrial workers paid double what others paid for life insurance because of the danger involved in their work. High lapse rates meant that only one in twelve policies reached maturity.
Today Prudential Financial is a financial services company. With its subsidiaries, the company provides insurance, investment management, life insurance, annuities, mutual funds, pension and retirement investments, securities, asset management, and brokerage services in more than 30 countries.
In August 2023, the company states that it was hacked via a third-party vendor and that as many as 320,000 customers may have been compromised.
Stock investors in the company have seen amazing ROIs, with some reaping as much as a 64% return.
Prudential is a Fortune 500 company, that has been publicly traded since 2001, is composed of hundreds of subsidiaries with $2 trillion of life insurance, has over 40,000 employees, and had $70.934 billion in revenue in 2021.
Prudential maintains a corporate office in Newark, New Jersey.