Prudential plc is the Prudential group holding company.
The company was originally established in 1848 as the The Prudential Mutual Assurance Investment and Loan Association . Prudential made its first acquisitions in the 1860s and as a result was renamed The British Prudential and Consolidated Assurance Company . This was shortened 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. Even after registration the number of shareholders remained small - there were only 170 in 1893. Prudential shares were floated on the London Stock Exchange in 1924.
Prudential had made several new acquisitions by the 1970s, including Vanbrugh Life and M&G Reinsurance. It became impractical to manage these diverse units within the Prudential Assurance Company so Prudential Corporation plc was established in 1978 to enable more flexible management.
The company image was revitalised during the 1980s, due to a new focus on new marketing initiatives. As part of these efforts a new Prudence emerged as the figurehead for the whole corporation. Modern Prudence looks forward, but she still retains the symbols for wisdom, clear thinking and prudent action that were incorporated in the original company seal in 1848.
From 1 October 1999 the name of the corporation changed from Prudential Corporation plc to Prudential plc. In 2010 Prudential plc was listed on stock exchanges in Hong Kong and Singapore.
Prudential plc is an international financial services group with significant operations in Asia, the US and the UK. The Group is structured around four main business units: Prudential Corporation Asia, Jackson National Life Insurance Company, Prudential UK and M&G.