Prudential Financial, Inc is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, retirement planning, investment management, and other products and services to both retail and institutional customers throughout the United States and in over 40 other countries.
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In 2019, Prudential Financial was the largest insurance provider in the United States with $815.
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Prudential Financial was succeeded by his son Forrest F Dryden, who was the president until 1922.
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Prudential Financial has evolved from a mutual insurance company to a joint stock company .
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In 1999, Prudential Financial sold its healthcare division, Prudential Financial HealthCare, to Aetna for $1 billion.
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The combination of American Skandia variable annuities and Prudential Financial fixed annuities was part of Prudential Financial's strategy to acquire complementary businesses that help meet retirement goals.
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The SEC charged that Prudential Financial allowed rogue executives to cheat customers on a large scale and blithely ignored a 1986 SEC order to overhaul its internal enforcement of securities laws.
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In 1997, Prudential Financial settled a class action lawsuit by millions of its customers who had been sold unnecessary life insurance by Prudential Financial agents over a 13-year period ending in 1995.
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Prudential Financial had agreed in early 1997 to pay a fine of $35 million to settle state allegations of deceptive sales practices.
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Prudential Financial acknowledged that for more than a decade its agents had improperly persuaded customers to cash in old policies and purchase new ones so that the agents could generate additional sales commissions.
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Prudential Financial provided life insurance to people in the armed forces under a government contract.
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Prudential Financial's response included an open letter to the military community in which it addressed what it characterized as "misinformation" about the nature of the accounts.
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The Prudential Financial CARES Volunteer Grants Program recognizes individual and team volunteers based on a minimum of 40 hours of volunteer service per individual.
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Prudential Financial ranked No 52 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
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