US Prudential changes name and direction
The Prudential Insurance Company of America will change its name following a move by the group to push further into the financial services marketplace.
Under the new name of Prudential Financial, the company will evolve from its insurance protection origins to enter the diverse financial services arena by providing insurance, investments and asset management.
Company chairman and chief executive Arthur Ryan says the group's expansion to provide a full range of financial services products means it is time the group's name reflects the broader and expanded range of products and services.
Ryan says Prudential will use its new name for its U.S. financial services businesses and its international businesses in the Americas, Japan, South Korea, and Taiwan.
He says that in some of the other international markets where Prudential does business, the company will introduce another new international name, Prumerica Financial.
In keeping with the company's 125-year-old history, Prudential Financial will incorporate the company's well-known symbol, 'the Rock'.
The company believes the new logo is part of an important theme: consumers should recognise Prudential as a contemporary financial services company that's uniquely positioned to help them both grow and protect their wealth.
The Prudential Insurance Company of America has more than US$371 billion in assets under management. Prudential is not affiliated with U.K.-based Prudential PLC.
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