1848 - 1878
When a group of Victorian gentlemen met in 1848 to form Prudential they had little idea how rapidly the business would grow…
On the 30 May, 1848, in a room at 12 Hatton Garden, London, the premises of Hanslip and Manning, solicitors, a number of gentlemen met to form The Prudential Mutual Assurance, Investment and Loan Association.
The first annual report clearly stated the company’s business – ‘the Directors are pleased to think that they might infix habits of Prudence among many individuals’ but particularly service ‘the clergyman who requires advances for the erection of his parsonage, the officer who seeks the price of his commission’.
From the first, the figure of Prudence was adopted as the symbol to be used on the company seal and represent the values of the business. To this day she still carries her arrow (signifying strength of purpose), serpent (the ancient symbol of wisdom) and mirror (representing self-awareness).
The first policies were issued in 1849. One of the first was taken out by Edgar Horne (Director, 1848-1905 and Chairman, 1877-1905). Business expanded rapidly – by 1875 the Company was collecting weekly premiums on 3.4million policies.
