In 1848 the Prudential or ‘the Pru’ was set up in London and came to concentrate on life insurance and a means of saving for professional people and, later on, for the poorer working classes who would pay weekly amounts to agents. It is now a multinational life insurance and financial services company.
In America John Fairfield Dryden lost his father when a young boy. As a result of his experiences, he set up an insurance company at Newark, New Jersey, in 1875, based on the principles and name of the Prudential in London. This new company was called the Prudential Friendly Society and sold industrial insurance to help American working families provide against sickness, accident and death. The company’s history is told in a fascinating book published in 1950 by Doubleday – The Prudential: a story of human security by Earl Chapin May and Will Oursler. Its jacket depicts the iconic northern part of the Rock of Gibraltar.
Cover of 1950 book called ‘The Prudential, a story of human security’
by Earl Chapin May and Will Oursler
The business struggled, and so in late 1876 Dryden went to London to seek advice on how Continue reading