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Prudential plc

This article is about the British company. For the American company, see Prudential Financial. For other uses, see Prudential (disambiguation).

Prudential plc is a British multinational insurance company headquartered in London, England. It was founded in London in May 1848 to provide loans to professional and working people.

Prudential plc
TypePublic limited company
LSE: PRU
NYSE: PUK
SEHK: 2378
FTSE 100 Component
IndustryInsurance
Founded1848; 173 years ago (1848)
in London
HeadquartersLondon, England, UK
Area served
Worldwide
Key people
ProductsLife insurance
Investment management
Consumer finance
Revenue $55.973 billion (2020)
$2.419 billion (2020)
$2.185 billion (2020)
Total assets $516.097 billion (2020)
Total equity $22.119 billion (2020)
Number of employees
23,000 (2021)
Websitewww.prudentialplc.com

Prudential has 20 million life customers. It owns Prudential Corporation Asia, which has insurance and asset management operations across 14 markets in Asia, Jackson National Life Insurance Company, which is one of the largest life insurance providers in the United States.

Prudential has dual primary listings on the London Stock Exchange and Hong Kong Stock Exchange, and is a constituent of the FTSE 100 Index. It also has secondary listings on the New York Stock Exchange and Singapore Exchange.

Contents

Early history

The company was founded in Hatton Garden in London in May 1848 as The Prudential, Investment, Loan, and Assurance Association and in September 1848 changed its name to The Prudential Mutual Assurance, Investment, and Loan Association, to provide loans to professional and working people. In 1854, the company began selling the relatively new concept of industrial branch insurance policies to the working class population for premiums as low as one penny through agents acting as door to door salesmen. The army of premium collection agents was for many years identified with the Prudential as the "Man from the Pru". It moved to its traditional home at Holborn Bars in 1879 and converted to a limited company in 1881. The building was designed by Alfred Waterhouse, and is built of terracotta manufactured by Gibbs and Canning Limited of Tamworth (c.1878) — two of the same driving forces behind the Natural History Museum in London.

Twentieth century

Holborn Bars—Traditional home of Prudential

The company was first listed on the London Stock Exchange in 1978.

In the mid-1980s, financial deregulation allowed financial institutions to own estate agencies and Prudential decided to follow early market entrants such as Provident Financial Group plc (Whitegates) and Lloyds Bank (Black Horse Agencies), in the Summer of 1985 by purchasing a long established and successful Huntingdon-based firm of estate agents; Ekins, Dilley and Handley for £12 million. This was originally supposed to be an experiment allowing the company a new route to market for mortgage-linked endowment policies, however after many other financial institutions followed suit, Prudential rapidly started to embark on an acquisition trail which would quickly see it become market leader in terms of number of offices. Acquisitions included Chestertons Residential and Earl & Lawrence in August 1986, Edward Bailey & Son in January 1987, The Channel Island Estate Agency Property Shop in February 1987, and Rogers & Clark in May 1987. This was however done at great cost and despite the cost of established a new estate agency branch being in the region of £75,000-£100,000, Prudential paid £125 million collectively for 337 of its branches; an average cost per branch of £371,000.

In 1986, Prudential acquired the American insurer Jackson National Life. In the same year, amongst many other acquisitions, Prudential Property Services acquired the fifty-two strong chain of Reeds Rains for £24 million.

The collapse of the housing market in the south of England in 1989 brought about a slump in income at Prudential Property Services which during the first half of 1990 lost £23 million. Prudential had been closing branches, with 100 closing between December 1988 and May 1990. The announcement of these losses saw another 175 branches closed in July 1990. In May 1991 Prudential sold the remainder of the chain for a total of £13.5 million, representing a 90% loss on the cost of acquisition. Some branches were purchased by their original owners for fractions of the amount they had sold to Prudential for just a few years earlier. For example the Prudential Property Services office in Hanwell was originally an independent agency, purchased by Prudential for £200,000: it was subsequently sold off to Rolfe East Estate Agents for £1. The western division of Prudential Property Services was sold to Scottish Widows to join their Connells Estate Agents chain. The northern division was sold in a £3.4 million management buyout reverting to the name, Reeds Rains, the south east division was sold to become Arun Estates, and Chestertons and another region was sold to the Woolwich Property Services.

In 1997, Prudential acquired Scottish Amicable, a business founded in 1826 in Glasgow as the West of Scotland Life Insurance Company, for £1.75bn.

In 1998, Prudential set up Egg, an internet bank within the UK. The subsidiary reached 550,000 customers within nine months but had difficulty achieving profitability. In June 2000, an initial public offering of 21% was made to allow for further growth of the internet business but in February 2006 Prudential decided to repurchase the 21% share of Egg. Egg was subsequently sold to Citibank in January 2007. In 1999, M&G, a UK fund management company, was acquired. In June 2000, the company was first listed on the New York Stock Exchange to help focus on the US market.

Twenty-first century

In February 2002, Churchill bought Prudential's general insurance business.

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. 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). This significant outsourcing deal, worth an estimated £722m over a 15-year contract, built on Prudential's existing relationship with Capita who took over its Belfast operation in 2006 along with approximately 450 employees in a smaller operational restructure.

On 1 March 2010, Prudential announced that it was in "advanced talks" to purchase the pan-Asian life insurance company of AIG, American International Assurance (AIA) for approximately £23 billion. The deal later collapsed and AIA ended up raising money in an IPO.

In December 2013, Prudential announced the purchase of Ghana's Express Life Company. Express Life was subsequently rebranded as Prudential Ghana. In April 2014, Prudential launched two corporate responsibility initiatives to support education in Ghana: the Prudential Scholarship Programme for more than 500 senior high school students, in partnership with the NGO Plan Ghana; and a scheme to support actuarial science graduates. In September 2014, Prudential purchased Kenyan life insurer Shield Assurance and rebranded it as Prudential Kenya, further expanding the company's presence in Africa. Prudential has since entered six other African countries – Uganda in 2015, Zambia in 2016, Nigeria in 2017, Cameroon, Cote d’Ivoire and Togo in 2019.

On 10 March 2015, it was announced that the CEO, Tidjane Thiam, would leave Prudential to become the next CEO of Credit Suisse. On 1 May 2015, it was announced that Mike Wells, head of the company's US business, would succeed Tidjane Thiam as CEO, on a pay package worth up to £7.5 million.

In August 2017, it was announced that Prudential was to combine its asset manager, M&G, and Prudential UK & Europe to form M&GPrudential.

In November 2017, Prudential announced the change in the name of its joint venture with Chinese investment company CITIC to "CITIC Prudential Life Insurance Company Limited".

In March 2018, Prudential announced that it would demerge M&GPrudential from the Group; the demerger was completed on 21 October 2019.

The Company has three business units:

  • Prudential Corporation Asia: based in Hong Kong, the business is the largest UK life assurer in Asia. It has had a presence in the continent since 1923 when an overseas agency for life assurance was created in India. Although this was subsequently nationalised, Prudential relaunched in India in 2000 as ICICI Prudential, a 26% joint venture with ICICI Bank. As CITIC Prudential Life, a 50–50 joint venture, they were the first UK company to re-establish a life business in China in 2000. There are also businesses in Cambodia, China, Hong Kong, India, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Prudential's Asian asset management business, Eastspring Investments, has total funds under management of USD247.8 billion.
  • Since 2014 Prudential has been building a multi-product, multi-distribution business in Africa, with operations now in eight countries across the continent, and over one million customers. Nairobi has been the regional office for Prudential’s Africa business since 2021.

Prudential were the inaugural sponsor of RideLondon, an annual two-day cycling festival, held for the first time in 2013. The 2017 Prudential RideLondon-Surrey 100 set a new fundraising record for the event, with £12.75 million raised for charity, bringing the total raised by the event to more than £53 million in its first five years.

The event was developed by the Mayor of London and his agencies and is organised by the London & Surrey Cycling Partnership. The main events are a 100-mile professional road race through Surrey and London, and an amateur race along the same route. Participants in the amateur race typically raise money for good causes. The 20,709 finishers in the 2014 event raised more than £10 million for charity. Prudential ended its title sponsorship of RideLondon in 2020.

In October 2014, Prudential announced that it would invest up to £100 million in the Swansea Bay Tidal Lagoon Power station project. Prudential has committed to invest £25 billion in UK infrastructure projects over five years. Prudential will be one of the main investors in the scheme designed to harness tidal-energy, which could power 120,000 homes for 120 years. If approved, the project would take two years to build and would create 1,850 construction jobs.

Key individuals are:

Chair of the Board of Directors Shriti Vadera
Group Chief Executive Mike Wells
Group Chief Financial Officer and Chief Operating Officer Mark FitzPatrick
Chief Executive Officer, Jackson Holdings Laura Prieskorn
Chief Executive of Prudential Corporation Asia Nic Nicandrou
Group Chief Risk and Compliance Officer James Turner
Group Chief Digital Officer Al-Noor Ramji
  1. "Full Year Results 2020"(PDF). Prudential plc. Retrieved3 March 2021.
  2. "Prudential plc". Insurance Business Magazine. Retrieved26 February 2021.
  3. "Timeline 1826–1901". Prudential plc. Retrieved13 December 2013.
  4. "fact-file"(PDF). Prudential plc. Retrieved23 May 2018.
  5. "2019 Annual Report"(PDF).
  6. Dennett, Laurie. (1998). A Sense of Security: 150 Years of Prudential. Granta Editions. pp. 18–20. ISBN 978-1-85757-060-1.
  7. Research page including details of many buildings that used Gibbs and Canning terracotta Archived 15 June 2007 at the Wayback Machine accessed 25 March 2012
  8. "Prudential plc". London Stock Exchange. Archived from the original on 10 April 2017. Retrieved9 April 2017.
  9. Ennew, Christine, ed. (1993). Cases in Marketing Financial Services. Oxford: Butterworth-Heinemann on behalf of the Chartered Institute of Marketing. pp. 196–200. ISBN 0750606614.
  10. Dennett, Laurie (1998). A Sense of Security: 150 Years of Prudential. Cambridge: Granta Editions. p. 363. ISBN 185757060X.
  11. Thomson, Richard (22 August 1993). "The lenders fold their cards: Richard Thomson looks into the story behind Abbey National's sale of its disastrous estate agency venture". The Independent. Retrieved27 March 2020.
  12. "The Times". 8 August 1986. Retrieved11 May 2020.Cite journal requires |journal= ()
  13. George, K D (1988). Mergers and Acquisitions Year Book. Basingstoke: Macmillan Publishers. pp. 68, 116, 402. ISBN 978-1-349-10005-7.
  14. Hamnett, Chris (1998). Winners And Losers: Home Ownership in Modern Britain. Abingdon: Routledge. pp. 42–44. ISBN 978-1857283341.
  15. "Prudential P.L.C. To Buy Jackson". The New York Times. 19 September 1986. Retrieved9 April 2017.
  16. Lawson, David (1999). Swiss Financial Giant Backs UK Residential Agents. Property Week, April 1999.
  17. [1] The History of Reeds Rains - Youtube.
  18. Willcock, John (17 August 1993). "Abbey National sells estate agents for 8m pounds: Two entrepreneurs buy Cornerstone chain after bank's losses since 1987 mount to at least pounds 243m". The Independent. Retrieved27 February 2020.
  19. Woolwich Property Services Limited (1992). Accounts to 31 December 1991.
  20. Backe-Hansen, Melanie (2018). The History of Chestertons. Chestertons Global Limited.
  21. Pru of Britain in Deal to buy Scottish Life Insurancer. The New York Times, 26 March 1997.
  22. Egg cracks internet for Pru BBC News, 1999
  23. Prudential to swallow the Egg whole. BBC News, 2005.
  24. Pru sells Egg to Citigroup. BBC News, 2007.
  25. Pru pounces on investment rival BBC News, 1999
  26. Prudential goes to New York BBC News, 2000
  27. "Churchill set to cull Pru suppliers". Insurance Times. 31 January 2002. Retrieved11 May 2020.
  28. Insurance boon for health conscious. BBC News, 2004.
  29. Prudential jobs deal with Capita BBC News, 2007
  30. Prudential outsources 450 jobs in Belfast to Capita Group. The Independent, 17 August 2006.
  31. "Prudential gambles on Asia with $35bn deal". The Guardian. 1 March 2010. Retrieved18 April 2011.
  32. "Prudential abandons bid for AIA". BBC News. 2 June 2010. Retrieved25 March 2012.
  33. "Prudential Moves into Insurance in Ghana". The Financial Times. Retrieved5 December 2013.
  34. "Prudential Increases Capital Base". Business and Financial Times. 25 April 2014. Archived from the original on 3 August 2014. Retrieved25 April 2014.
  35. Jones, Sarah (16 September 2014). "Prudential Buys Kenyan Insurer in Second African Purchase". Bloomberg Business. Retrieved16 September 2014.
  36. Taofik Salako. "UK's Prudential becomes majority investor in Zenith Life Assurance". thenationonlineng.net. Retrieved4 September 2017.
  37. Milmo, Dan (10 March 2015). "Prudential's Tidjane Thiam to take top role at Credit Suisse". The Guardian. Retrieved10 March 2015.
  38. Julia Kollewe. "Prudential appoints new CEO on £7.5m pay package". The Guardian. Retrieved26 March 2016.
  39. "Prudential announces merger of M&G and Prudential UK & Europe". FT.com. Retrieved12 December 2017.
  40. "Prudential changes name of Chinese joint venture". Sina Finance. Retrieved12 December 2017.
  41. Lucy Burton. "Prudential unveils radical overhaul as it splits itself in two FTSE 100 firms". The Telegraph. Retrieved14 March 2018.
  42. Senior City Correspondent, Ben Martin (21 October 2019). "M&G makes its debut after demerger from Prudential". The Times. ISSN 0140-0460. Retrieved21 October 2019.
  43. "Our businesses". prudentialplc.com. Retrieved11 May 2021.
  44. "Prudential Corporation Asia – How to contact us". Prudential.co.uk. Archived from the original on 18 December 2013. Retrieved13 December 2013.
  45. "Breaking up is the right thing to do at Prudential". The Times. Retrieved10 February 2021.
  46. "Prudential Plc : Everything you need to know". Insurance Business UK.
  47. "Prudential plc 2020 Full Year Results"(PDF). Prudential plc. Retrieved3 March 2021.
  48. "Jackson National Life Insurance Company - How to contact us". Prudential.co.uk. Archived from the original on 18 December 2013. Retrieved13 December 2013.
  49. "Our History". Jackson National Life. Archived from the original on 23 September 2015. Retrieved23 September 2015.
  50. "Riders raise record £12.75 million for charity in 2017". Prudentialridelondon.co.uk. Archived from the original on 7 March 2016. Retrieved18 December 2017.
  51. "Prudential RideLondon raises record-breaking £10 million for charity". Prudentialridelondon.co.uk. Archived from the original on 10 February 2015. Retrieved18 December 2014.
  52. "Prudential to end title sponsorship of RideLondon". cyclingnews.
  53. "£100m investment in Swansea Bay tidal lagoon". BBC News. 20 October 2014. Retrieved20 October 2014.
  54. "Prudential shakes up US leadership team ahead of demerger". Money Marketing. 11 February 2021.
  55. "Jackson Announces Leadership Changes Led By New CEO Laura Prieskorn". Financial Times. 12 February 2021.
  56. "Our leadership". Prudential plc.
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Prudential plc
prudential, language, watch, edit, this, article, about, british, company, american, company, prudential, financial, other, uses, prudential, disambiguation, british, multinational, insurance, company, headquartered, london, england, founded, london, 1848, pro. Prudential plc Language Watch Edit This article is about the British company For the American company see Prudential Financial For other uses see Prudential disambiguation Prudential plc is a British multinational insurance company headquartered in London England It was founded in London in May 1848 to provide loans to professional and working people 3 Prudential plcTypePublic limited companyTraded asLSE PRU NYSE PUK SEHK 2378 FTSE 100 ComponentIndustryInsuranceFounded1848 173 years ago 1848 in LondonHeadquartersLondon England UKArea servedWorldwideKey peopleShriti Vadera Chair Mike Wells Group Chief Executive ProductsLife insurance Investment management Consumer financeRevenue 55 973 billion 2020 1 Operating income 2 419 billion 2020 1 Net income 2 185 billion 2020 1 Total assets 516 097 billion 2020 1 Total equity 22 119 billion 2020 1 Number of employees23 000 2021 2 Websitewww wbr prudentialplc wbr com Prudential has 20 million life customers 4 It owns Prudential Corporation Asia which has insurance and asset management operations across 14 markets in Asia Jackson National Life Insurance Company which is one of the largest life insurance providers in the United States Prudential has dual primary listings on the London Stock Exchange and Hong Kong Stock Exchange and is a constituent of the FTSE 100 Index 5 It also has secondary listings on the New York Stock Exchange and Singapore Exchange Contents 1 History 1 1 Early history 1 2 Twentieth century 1 3 Twenty first century 2 Operations 3 Prudential RideLondon 4 Swansea Bay Tidal Lagoon 5 Senior management 6 See also 7 References 8 External linksHistory EditEarly history Edit The company was founded in Hatton Garden in London in May 1848 as The Prudential Investment Loan and Assurance Association and in September 1848 changed its name to The Prudential Mutual Assurance Investment and Loan Association 6 to provide loans to professional and working people 3 In 1854 the company began selling the relatively new concept of industrial branch insurance policies to the working class population for premiums as low as one penny through agents acting as door to door salesmen The army of premium collection agents was for many years identified with the Prudential as the Man from the Pru 3 It moved to its traditional home at Holborn Bars in 1879 and converted to a limited company in 1881 3 The building was designed by Alfred Waterhouse and is built of terracotta manufactured by Gibbs and Canning Limited of Tamworth c 1878 two of the same driving forces behind the Natural History Museum in London 7 Twentieth century Edit Holborn Bars Traditional home of Prudential The company was first listed on the London Stock Exchange in 1978 8 In the mid 1980s financial deregulation allowed financial institutions to own estate agencies and Prudential decided to follow early market entrants such as Provident Financial Group plc Whitegates and Lloyds Bank Black Horse Agencies 9 in the Summer of 1985 by purchasing a long established and successful Huntingdon based firm of estate agents Ekins Dilley and Handley for 12 million 10 This was originally supposed to be an experiment allowing the company a new route to market for mortgage linked endowment policies however after many other financial institutions followed suit Prudential rapidly started to embark on an acquisition trail which would quickly see it become market leader in terms of number of offices 11 9 Acquisitions included Chestertons Residential and Earl amp Lawrence in August 1986 12 Edward Bailey amp Son in January 1987 The Channel Island Estate Agency Property Shop in February 1987 and Rogers amp Clark in May 1987 13 This was however done at great cost and despite the cost of established a new estate agency branch being in the region of 75 000 100 000 Prudential paid 125 million collectively for 337 of its branches an average cost per branch of 371 000 14 In 1986 Prudential acquired the American insurer Jackson National Life 15 In the same year amongst many other acquisitions Prudential Property Services acquired the fifty two strong chain of Reeds Rains for 24 million 16 17 The collapse of the housing market in the south of England in 1989 brought about a slump in income at Prudential Property Services which during the first half of 1990 lost 23 million Prudential had been closing branches with 100 closing between December 1988 and May 1990 The announcement of these losses saw another 175 branches closed in July 1990 In May 1991 Prudential sold the remainder of the chain for a total of 13 5 million representing a 90 loss on the cost of acquisition Some branches were purchased by their original owners for fractions of the amount they had sold to Prudential for just a few years earlier 14 For example the Prudential Property Services office in Hanwell was originally an independent agency purchased by Prudential for 200 000 it was subsequently sold off to Rolfe East Estate Agents for 1 18 The western division of Prudential Property Services was sold to Scottish Widows to join their Connells Estate Agents chain The northern division 18 was sold in a 3 4 million management buyout reverting to the name Reeds Rains 16 17 the south east division was sold to become Arun Estates 18 and Chestertons and another region was sold to the Woolwich Property Services 19 20 In 1997 Prudential acquired Scottish Amicable a business founded in 1826 in Glasgow as the West of Scotland Life Insurance Company for 1 75bn 21 In 1998 Prudential set up Egg an internet bank within the UK The subsidiary reached 550 000 customers within nine months but had difficulty achieving profitability 22 In June 2000 an initial public offering of 21 was made to allow for further growth of the internet business but in February 2006 Prudential decided to repurchase the 21 share of Egg 23 Egg was subsequently sold to Citibank in January 2007 24 In 1999 M amp G a UK fund management company was acquired 25 In June 2000 the company was first listed on the New York Stock Exchange to help focus on the US market 26 Twenty first century Edit In February 2002 Churchill bought Prudential s general insurance business 27 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 This significant outsourcing deal worth an estimated 722m over a 15 year contract built on Prudential s existing relationship with Capita who took over its Belfast operation in 2006 along with approximately 450 employees in a smaller operational restructure 30 On 1 March 2010 Prudential announced that it was in advanced talks to purchase the pan Asian life insurance company of AIG American International Assurance AIA for approximately 23 billion 31 The deal later collapsed and AIA ended up raising money in an IPO 32 In December 2013 Prudential announced the purchase of Ghana s Express Life Company Express Life was subsequently rebranded as Prudential Ghana 33 In April 2014 Prudential launched two corporate responsibility initiatives to support education in Ghana the Prudential Scholarship Programme for more than 500 senior high school students in partnership with the NGO Plan Ghana and a scheme to support actuarial science graduates 34 In September 2014 Prudential purchased Kenyan life insurer Shield Assurance and rebranded it as Prudential Kenya further expanding the company s presence in Africa 35 Prudential has since entered six other African countries Uganda in 2015 Zambia in 2016 Nigeria in 2017 Cameroon Cote d Ivoire and Togo in 2019 36 On 10 March 2015 it was announced that the CEO Tidjane Thiam would leave Prudential to become the next CEO of Credit Suisse 37 On 1 May 2015 it was announced that Mike Wells head of the company s US business would succeed Tidjane Thiam as CEO on a pay package worth up to 7 5 million 38 In August 2017 it was announced that Prudential was to combine its asset manager M amp G and Prudential UK amp Europe to form M amp GPrudential 39 In November 2017 Prudential announced the change in the name of its joint venture with Chinese investment company CITIC to CITIC Prudential Life Insurance Company Limited 40 In March 2018 Prudential announced that it would demerge M amp GPrudential from the Group 41 the demerger was completed on 21 October 2019 42 Operations EditThe Company has three business units 43 Prudential Corporation Asia based in Hong Kong 44 the business is the largest UK life assurer in Asia It has had a presence in the continent since 1923 when an overseas agency for life assurance was created in India Although this was subsequently nationalised Prudential relaunched in India in 2000 as ICICI Prudential a 26 joint venture with ICICI Bank As CITIC Prudential Life a 50 50 joint venture they were the first UK company to re establish a life business in China in 2000 There are also businesses in Cambodia China Hong Kong India Indonesia Laos Malaysia Myanmar the Philippines Singapore Taiwan Thailand and Vietnam Prudential s Asian asset management business Eastspring Investments has total funds under management of USD247 8 billion 4 Since 2014 Prudential has been building a multi product multi distribution business in Africa with operations now in eight countries across the continent and over one million customers Nairobi has been the regional office for Prudential s Africa business since 2021 45 46 47 Jackson National Life Insurance Company based in Michigan United States 48 the business was purchased in 1986 It was named after Andrew Jackson the seventh President of the United States of America and started business in 1961 49 Prudential RideLondon EditPrudential were the inaugural sponsor of RideLondon an annual two day cycling festival held for the first time in 2013 The 2017 Prudential RideLondon Surrey 100 set a new fundraising record for the event with 12 75 million raised for charity bringing the total raised by the event to more than 53 million in its first five years 50 The event was developed by the Mayor of London and his agencies and is organised by the London amp Surrey Cycling Partnership The main events are a 100 mile professional road race through Surrey and London and an amateur race along the same route Participants in the amateur race typically raise money for good causes The 20 709 finishers in the 2014 event raised more than 10 million for charity 51 Prudential ended its title sponsorship of RideLondon in 2020 52 Swansea Bay Tidal Lagoon EditIn October 2014 Prudential announced that it would invest up to 100 million in the Swansea Bay Tidal Lagoon Power station project Prudential has committed to invest 25 billion in UK infrastructure projects over five years Prudential will be one of the main investors in the scheme designed to harness tidal energy which could power 120 000 homes for 120 years If approved the project would take two years to build and would create 1 850 construction jobs 53 Senior management EditKey individuals are Chair of the Board of Directors Shriti VaderaGroup Chief Executive Mike WellsGroup Chief Financial Officer and Chief Operating Officer Mark FitzPatrickChief Executive Officer Jackson Holdings Laura Prieskorn 54 55 56 Chief Executive of Prudential Corporation Asia Nic NicandrouGroup Chief Risk and Compliance Officer James TurnerGroup Chief Digital Officer Al Noor RamjiSee also Edit Banks portal Companies portal Invest Financial Corporation Prudential Staff Union Richard Woolnough Prudential Assurance Company Singapore a Singapore based financial services companyReferences Edit a b c d e Full Year Results 2020 PDF Prudential plc Retrieved 3 March 2021 Prudential plc Insurance Business Magazine Retrieved 26 February 2021 a b c d Timeline 1826 1901 Prudential plc Retrieved 13 December 2013 a b fact file PDF Prudential plc Retrieved 23 May 2018 2019 Annual Report PDF Dennett Laurie 1998 A Sense of Security 150 Years of Prudential Granta Editions pp 18 20 ISBN 978 1 85757 060 1 Research page including details of many buildings that used Gibbs and Canning terracotta Archived 15 June 2007 at the Wayback Machine accessed 25 March 2012 Prudential plc London Stock Exchange Archived from the original on 10 April 2017 Retrieved 9 April 2017 a b Ennew Christine ed 1993 Cases in Marketing Financial Services Oxford Butterworth Heinemann on behalf of the Chartered Institute of Marketing pp 196 200 ISBN 0750606614 Dennett Laurie 1998 A Sense of Security 150 Years of Prudential Cambridge Granta Editions p 363 ISBN 185757060X Thomson Richard 22 August 1993 The lenders fold their cards Richard Thomson looks into the story behind Abbey National s sale of its disastrous estate agency venture The Independent Retrieved 27 March 2020 The Times 8 August 1986 Retrieved 11 May 2020 Cite journal requires journal help George K D 1988 Mergers and Acquisitions Year Book Basingstoke Macmillan Publishers pp 68 116 402 ISBN 978 1 349 10005 7 a b Hamnett Chris 1998 Winners And Losers Home Ownership in Modern Britain Abingdon Routledge pp 42 44 ISBN 978 1857283341 Prudential P L C To Buy Jackson The New York Times 19 September 1986 Retrieved 9 April 2017 a b Lawson David 1999 Swiss Financial Giant Backs UK Residential Agents Property Week April 1999 a b 1 The History of Reeds Rains Youtube a b c Willcock John 17 August 1993 Abbey National sells estate agents for 8m pounds Two entrepreneurs buy Cornerstone chain after bank s losses since 1987 mount to at least pounds 243m The Independent Retrieved 27 February 2020 Woolwich Property Services Limited 1992 Accounts to 31 December 1991 Backe Hansen Melanie 2018 The History of Chestertons Chestertons Global Limited Pru of Britain in Deal to buy Scottish Life Insurancer The New York Times 26 March 1997 Egg cracks internet for Pru BBC News 1999 Prudential to swallow the Egg whole BBC News 2005 Pru sells Egg to Citigroup BBC News 2007 Pru pounces on investment rival BBC News 1999 Prudential goes to New York BBC News 2000 Churchill set to cull Pru suppliers Insurance Times 31 January 2002 Retrieved 11 May 2020 Insurance boon for health conscious BBC News 2004 Prudential jobs deal with Capita BBC News 2007 Prudential outsources 450 jobs in Belfast to Capita Group The Independent 17 August 2006 Prudential gambles on Asia with 35bn deal The Guardian 1 March 2010 Retrieved 18 April 2011 Prudential abandons bid for AIA BBC News 2 June 2010 Retrieved 25 March 2012 Prudential Moves into Insurance in Ghana The Financial Times Retrieved 5 December 2013 Prudential Increases Capital Base Business and Financial Times 25 April 2014 Archived from the original on 3 August 2014 Retrieved 25 April 2014 Jones Sarah 16 September 2014 Prudential Buys Kenyan Insurer in Second African Purchase Bloomberg Business Retrieved 16 September 2014 Taofik Salako UK s Prudential becomes majority investor in Zenith Life Assurance thenationonlineng net Retrieved 4 September 2017 Milmo Dan 10 March 2015 Prudential s Tidjane Thiam to take top role at Credit Suisse The Guardian Retrieved 10 March 2015 Julia Kollewe Prudential appoints new CEO on 7 5m pay package The Guardian Retrieved 26 March 2016 Prudential announces merger of M amp G and Prudential UK amp Europe FT com Retrieved 12 December 2017 Prudential changes name of Chinese joint venture Sina Finance Retrieved 12 December 2017 Lucy Burton Prudential unveils radical overhaul as it splits itself in two FTSE 100 firms The Telegraph Retrieved 14 March 2018 Senior City Correspondent Ben Martin 21 October 2019 M amp G makes its debut after demerger from Prudential The Times ISSN 0140 0460 Retrieved 21 October 2019 Our businesses prudentialplc com Retrieved 11 May 2021 Prudential Corporation Asia How to contact us Prudential co uk Archived from the original on 18 December 2013 Retrieved 13 December 2013 Breaking up is the right thing to do at Prudential The Times Retrieved 10 February 2021 Prudential Plc Everything you need to know Insurance Business UK Prudential plc 2020 Full Year Results PDF Prudential plc Retrieved 3 March 2021 Jackson National Life Insurance Company How to contact us Prudential co uk Archived from the original on 18 December 2013 Retrieved 13 December 2013 Our History Jackson National Life Archived from the original on 23 September 2015 Retrieved 23 September 2015 Riders raise record 12 75 million for charity in 2017 Prudentialridelondon co uk Archived from the original on 7 March 2016 Retrieved 18 December 2017 Prudential RideLondon raises record breaking 10 million for charity Prudentialridelondon co uk Archived from the original on 10 February 2015 Retrieved 18 December 2014 Prudential to end title sponsorship of RideLondon cyclingnews 100m investment in Swansea Bay tidal lagoon BBC News 20 October 2014 Retrieved 20 October 2014 Prudential shakes up US leadership team ahead of demerger Money Marketing 11 February 2021 Jackson Announces Leadership Changes Led By New CEO Laura Prieskorn Financial Times 12 February 2021 Our leadership Prudential plc External links EditWikimedia Commons has media related to Prudential plc Prudential plc official website Pru co ukRetrieved from https en wikipedia org w index php title Prudential plc amp oldid 1024095174, wikipedia, wiki, book, books, library,

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