Finance History | Prudential — Burial Policies from 812 Broad Street
· 1875
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Finance History | Prudential — Burial Policies from 812 Broad Street
kevin
People treat Prudential as a Newark plaza that always sold retirement products.
The first office sold burial insurance to factory workers.
In 1875 John Fairfield Dryden opened the Prudential Friendly Society at 812 Broad Street in Newark.
Britannica records that Dryden had studied the industrial policies of London's Prudential Assurance while at Yale, then tried the model in New Jersey.
The company had first operated in 1873 as the Widows and Orphans Friendly Society.
In 1877 it took the name The Prudential Insurance Company of America.
The product was a small weekly-premium life policy sold to working households that ordinary companies would not write.
The Rock of Gibraltar mark entered the advertising in 1896.
George B. Post's limestone home office rose at Broad and Bank from 1892 and was demolished in 1956.
Prudential Plaza at 745 Broad Street opened in 1960 on that site and remains the public headquarters frontage.
The firm demutualized and listed as Prudential Financial on 13 December 2001.
Pin the Broad Street plaza entrance.
Describe only what is visible from the sidewalk.
The 1875 rooms at 812 Broad are gone.
What survived is an industrial-life book that learned to price the weekly premium the ordinary companies left on the table.
Photo: Newark skyline with Prudential Plaza, Fody, public domain, via Wikimedia Commons.
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