Prudential Financial

Prudential Financial, Inc. stands as one of America's most enduring financial institutions, with roots dating back to 1875 when it was founded as The Widows and Orphans Friendly Society in Newark, New Jersey. The company was established by John F. Dryden, who later became a U.S. Senator, with a vision to provide affordable life insurance to working-class families. Beginning with a modest capital of $25,000, Prudential focused on industrial insurance, making financial security accessible to everyday Americans by selling burial insurance—a revolutionary concept at the time that brought dignity and peace of mind to those who previously had no access to such protection.

The company's iconic Rock of Gibraltar logo, adopted in 1896, became synonymous with strength and reliability in American financial services. This symbol originated when an advertising agent passed Laurel Hill, a volcanic neck in Secaucus, New Jersey, on a train and was struck by its resemblance to Gibraltar. The logo and accompanying slogan "The Prudential has the strength of Gibraltar" have represented the company's commitment to financial stability for over 125 years. Throughout the 20th century, Prudential evolved from selling a single product to becoming a comprehensive financial services powerhouse, launching Group Insurance in 1922 and becoming the world's largest insurance company by assets in 1967.

Prudential completed a historic transformation in 2001 through demutualization, converting from a mutual insurance company owned by policyholders to a publicly traded corporation. The company went public on the New York Stock Exchange on December 13, 2001, under the ticker symbol PRU, raising more than $3 billion in one of the largest public offerings in the industry's history. Notably, Prudential became the first NYSE IPO after the September 11, 2001 terrorist attacks, demonstrating resilience during a challenging period. This transition allowed the company to access capital markets more efficiently and expand its strategic capabilities through acquisitions and partnerships.

Today, Prudential Financial operates as a diversified financial services leader with three main business segments: PGIM (investment management), U.S. Businesses (retirement strategies, group insurance, and individual life insurance), and International Businesses (life insurance operations in over 40 countries). The company has approximately $1.5 trillion in assets under management and serves millions of customers worldwide. In 2024, Prudential demonstrated strong financial performance by returning nearly $3 billion to shareholders through dividends and share buybacks, while achieving nearly $22 billion in retirement strategy sales in the first half of the year—a 67% increase from the prior year. As the company approaches its 150th anniversary in 2025, it continues to evolve with significant leadership transitions, including the appointment of Andrew Sullivan as CEO effective March 31, 2025, positioning Prudential for continued growth in an increasingly digital and globalized financial services landscape.