Prudential Annuities Life Assurance Corporation (to be renamed Fortitude Life Insurance ɪmp; Annuity Company) (“PALAC”), Shelton, CT (main office) was acquired on April 1, 2022 by Fortitude Group Holdings, LLC, the parent company of Bermuda's largest multi-line reinsurer (“Fortitude Re”).
When did Prudential start selling life insurance overseas?
During the 1920s Prudential began to expand across the globe, with the first overseas life branch established in India in 1923.
What is the history of the Prudential Company?
On 30 May 1848 a group of Victorian gentlemen met in London to form the Prudential Mutual Assurance, Investment and Loan Association. The figure of Prudence was adopted as a symbol to be used on the first company seal and represent the values of the business.
Who is the CEO of Prudential?
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.