Company History

Prudential Milestones: Notable Achievements of the Past 135+ Years

Prudential has a rich history of industry innovation, leadership, and commitment to its customers. Take a look at our history and accomplishments throughout the years.

1875 – 1899 1900 – 1924 1925 – 1959 1960 – 1984 1985 – Present

1875 – 1899

1875
Insurance agent John Fairfield Dryden establishes The Prudential Friendly Society at 812 Broad Street in Newark, New Jersey. It's the first U.S. company to make life insurance affordable to working-class people.

1876
Prudential issues its 5,000^th policy.

1877
The company changes its name to The Prudential Insurance Company of America.

1885
John Dryden purchases Prudential's one million^th policy.

1896
The Rock of Gibraltar is used as a company symbol for the first time. It appears in an ad in Leslie's Weekly with the copy The Prudential has the strength of Gibraltar.

1900 – 1924

1909
Prudential opens its Canadian offices in Toronto and Montreal.

1911
10 million policies are in force.

1912
Prudential begins issuing Disability Insurance.

1916
Prudential offers Group Life Insurance for the first time. McCormick and Company of Baltimore, Maryland, purchases the first policy.

1923
Company assets reach $1 billion.

1925 – 1959

1928
Prudential enters the retirement business, issuing its first group pension contract to the Public Library of Cleveland, Ohio.

1948
Administrative functions of the company are decentralized with the opening of a home office in Los Angeles. Prudential later establishes eight additional home offices across the U.S., including Chicago and Philadelphia.

1950
Prudential enters the television age as the sponsor of Prudential Family Playhouse, an industry first.

1955
The company leads the way again as one of the first U.S. corporations to install a large-scale computer for data processing.

1959
Prudential breaks ground for the Prudential Center in Boston. It's our official entry into the property development business.

1960 – 1984

1962
Providing $114 million in private financing for the acquisition of Ethyl Corp. by Albemarle Paper, Prudential becomes one of the first institutions to invest in what became known as a leveraged buyout.

1966
With nearly $24 billion in assets, Prudential surpasses Met Life as the largest insurance company in the United States.

1970
Prudential becomes the first major life insurance company to sell variable annuities to individuals.

1970
Get a Piece of the Rock, one of the most memorable slogans in advertising history, debuts.

1973
One of the largest, most complex computer application systems ever developed is completed to store and process information for almost 11 million policies in force.

1977
The Prudential Foundation is established to administer the company's expanding philanthropic activities.

1979
In Prudential's first overseas life insurance initiative, we form a joint venture with Sony in Japan.

1981
Prudential makes its first major diversifications outside of the insurance business by purchasing the brokerage firm Bache Halsey Stuart Shields.

1984
Prudential innovates again, offering Variable Appreciable Annuities for the first time.

1985 – Present

1985
The company's consolidated assets surpass $100 billion.

1985
Prudential acquires Jennison Associates Capital Corp., a major pension funds manager, expanding our capabilities as a money manager for other institutions.

1987
Prudential enters the real estate brokerage business by forming a new subsidiary, The Prudential Real Estate Affiliates.

1987
As our mutual fund family grows, the company creates Prudential Mutual Fund Management to market and administer these products.

1989
Prudential acquires Merrill Lynch Realty and Merrill Lynch Relocation Management.

1989
Prudential's global expansion continues, with new Life Insurance operations in Italy, Korea, Spain, and Taiwan.

1990
After pioneering the Living Needs Benefit in Canada, Prudential introduces it in the United States.

1997
South America becomes another base of operations when Prudential forms a life insurance joint venture with Bradesco Seguros of Brazil.

1998
Prudential International Investments is established.

1999
An expansion into Eastern Europe occurs when Prudential opens a life insurance affiliate in Poland.

2000
Prudential celebrates its 125th anniversary and launches a variety of initiatives, including community service, literacy, and volunteer work programs.

2000
TermElite^SM and TermEssential^SM Life Insurance are introduced.

2001
Prudential acquires Kyoei Life, known today as Gibraltar Life.

2002
Prudential Real Estate Investors enters the Mexican market through a joint venture and acquires TMW Immobilien of Munich, Germany.

2003
The JennisonDryden Mutual Fund Family is introduced to rebrand new and existing Prudential mutual funds.

2004
Prudential acquires Cigna's retirement business.

2005
The Social Investments unit of Prudential reaches $1 billion in socially responsible investments.

2006
Prudential introduces IncomeFlex^SM, a new retirement contribution plan.

2006
Prudential is named one of the Top 50 Companies for Diversity by DiversityInc.com and one of the Top 50 Companies by Hispanic Business magazine. And for the 17th consecutive year, Working Mother magazine includes Prudential in its Top 100 Companies for Working Mothers.

2007
Based on its own survey, Fortune® magazine ranked Prudential Financial as the World's Most Admired Company in the Insurance: Life and Health category.*

*Fortune® and the World's Most Admired Companies are registered trademarks of Time, Inc.