Even if you don’t already work at Prudential, chances are, you’ll have heard the name.
The Prudential Group is an international financial services company. Our product range extends from insurance, pensions and retail investments to institutional fund management and property investments.
Our portfolio of well-known and respected brands includes Prudential, M&G Investments, Jackson National Life Insurance Company and Prudential Corporation Asia.
And together, we’ve attracted more than 20 million customers, policy holders and unit holders worldwide, as well as over £267 billion of funds under management (at 31 December 2007).
We have significant operations in the UK, the US and Asia, contributing to a diversity of earnings. Worldwide, we employ over 28,000 people and, on 31 December, 2007, our shareholders numbered 75,784.
We’re also listed on the London and New York stock exchanges.
Our success means that we can never rest.
From our origins as a UK domestic life insurance company, we’ve rapidly grown our international operations over the last 20 years. In 2007 over three quarters of our new business profits came from Asia and the United States.
And like the markets in which we operate and the populations we serve, we’re continuously evolving. We always look to the future and ask ‘what’s next?’
And that’s where the Momentum Programme, and perhaps you, come in.
Our aim is simple: to promote the financial well-being of our customers and their families. How? By offering a superior range of retail financial services products, with a particular emphasis on helping them to save for, and secure an income in, retirement.
And to ensure we carry on achieving our aim, we need to plan ahead. That means cultivating the people who will be leading us in the future. Because if you succeed on the Momentum Programme, that’s exactly what you’ll be doing.
We see many opportunities for profitable growth in each of our core markets.
In particular, as governments and individuals seek to address the combined challenge of rising life expectancy and inadequate retirement funding, we believe they’ll look increasingly to the private sector to fulfil their needs.
And we believe that our capabilities, including our trusted brands, our investment and risk management skills, our product innovation and our powerful distribution networks around the world, mean we’re in a strong position to capture a big share of this retirement market opportunity.
Could you be responsible for ensuring this happens?
We also see significant advantage in the combined strength of our companies around the world.
For example, by sharing knowledge between them, we can make more effective use of their capital and adapt and export products across borders, meeting emerging customer needs often more quickly and efficiently than our competitors.
Our operational plans, in areas such as product design and IT processing, are also increasingly developed on an international, rather than a local, basis.
Therefore the Momentum Programme makes sense because it’s designed to ensure our future leaders benefit, understand and take advantage of this international network.
And our presence in exciting, high-growth markets such as China and India means there’s no better place than Prudential to be exploiting your leadership potential right now.
We’re a trustworthy organisation in an ethical business with a long history. We’re honest, innovative, modern and active in expansive markets.
We focus on acting responsibly and with integrity. It’s a philosophy we’ve incorporated within the way our company works throughout our 160 year history.
And we also believe responsible corporate behaviour is essential in maintaining successful relationships.
The Prudential Group comprises four main brands. These are Prudential, Prudential Corporation Asia, Jackson National Life Insurance Company and M&G Investments.
But rather than a bureaucratic centralised Group, we maintain the individual culture of each company, whilst allowing them to benefit from the bigger structure.
And this is what the Momentum experience is all about, too. Because having been identified as a future leader, you’ll develop in our core businesses, moving freely between them as you progress towards a leadership position.
Our core markets are Asia, the United States and the United Kingdom.
And roles in the Momentum Programme will be available in the UK and Asia. Candidates from the UK will be encouraged to explore opportunities within our Asian markets, whilst programme members from Asia will enter roles in the UK.
In this way, you’ll have the richest experience possible, learning about our local and global businesses from a unique cultural perspective.
Prudential is a leading provider of retirement savings and income solutions and life assurance in the UK.
And it has a unique combination of competitive advantages, including its significant longevity experience, multi-asset management capabilities and its brand and financial strength.
Prudential also provides a range of financial products and services including annuities, corporate pensions, with-profits and unit-linked bonds, savings and investments products, protection, equity release and health insurance products.
In 2007, Prudential sold approximately one in four individual annuities bought in the UK.
Prudential Corporation Asia is the leading European based life insurer in Asia in terms of market coverage and number of top five market positions.
The Company has life and asset management operations in 13 markets, covering China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Vietnam and the United Arab Emirates.
12, 500 people serve around 10 million customers.
Jackson is one of the largest life insurance companies in the US.
3,123 staff are based in Lansing, Michigan, and Denver Colorado, USA. They provide retirement savings and income solutions to around three million customers (who are primarily retirees and those nearing retirement) in the mass and mass-affluent segments of the US market.
The United States is the largest retirement market in the world, with some 78 million baby-boomers either in, or approaching, retirement over the coming years.
And Jackson is well placed to meet the needs of this generation, and has been the fastest growing variable annuity provider in the US for the past six years.
M&G is Prudential’s UK and European fund management business and had £167 billion of assets under management as recorded on 31 December, 2007. £116 billion of which relates to Prudential’s long-term business funds.
M&G aims to maximise profitable growth by operating in markets where it has a leading position and competitive advantage, including retail fund management, institutional fixed income, pooled life and pension funds, property and private finance.
1,500 people are located in London and Chelmsford in the UK; Austria, France, Germany, Italy, Luxembourg, Spain and Switzerland in Europe; and South Africa.
Our strategy centres on capturing a disproportionately large share of the global retirement opportunity, using our assets and capabilities, such as our brands, product innovation, risk management and investment management skills to develop solutions for customers throughout their pre- and post-retirement years.
Geographically, we will continue to focus on enhancing our position in our core markets of Asia, the US and the UK, which we believe offer us the greatest opportunity for sustained growth.
As a Group, we are continuously increasing the level of co-operation and exchange of ideas across our businesses. And the Momentum Programme, as well as your role within it, are designed to help us do just that.