Prudential

Prudential Insurance Company of America was founded in Newark, New Jersey in 1875 and became famous for industrial life insurance - small policies collected by agents - at a time when many working families had limited access to financial products.[1][2] That early focus on mass-market protection helped Prudential build scale, a national field force, and a recognizable brand that later expanded into ordinary life, group benefits, and retirement services.[1][2] Over the 20th century Prudential navigated wars, the Great Depression, and repeated regulatory reforms by broadening its product mix and investment capabilities. As the U.S. retirement system shifted toward employer plans and later defined-contribution accounts, Prudential grew as an institutional manager of long-duration liabilities, combining insurance underwriting with asset management.[2] In the early 2000s, Prudential Financial demutualized, converting from a policyholder-owned mutual into a publicly traded company - a structural change that provided access to permanent capital and increased flexibility for acquisitions and global expansion.[1] Because of its size, Prudential has long used reinsurance and capital markets solutions to manage risk and optimize balance sheets, though the specific counterparties vary by transaction and are not always emphasized in overview histories.[1][2] A consistent opportunity for Prudential has been meeting households and employers where they are: moving from doorstep collections to advisors, workplace enrollment, and institutional retirement platforms while maintaining the core promise of long-term protection and income.[1][2]

Sources: [1] https://en.wikipedia.org/wiki/Prudential_Financial (Wikipedia: Prudential Financial) ; [2] https://www.npl.org/prudential-insurance-company-of-america-prudential-financial/ (Newark Public Library - Prudential history overview)