The Prudential Insurance Company of America is one of the largest diversified financial institutions in the world and, based on total assets, the largest insurance company in North America. Along with its primary business, insurance, the company also operates in securities, investments, residential real estate, employee benefits, home mortgages, and the corporate relocation industry. In 1999 Prudential was in the process of reorganizing as preparation for a transition to demutualization and public ownership, pending regulatory approval, in 2000.
Unprecedented Growth and Scandal: 1980s
Throughout the 1980s, Prudential continued to search for ways to maximize income from its investments. In 1981, the company formed Property Investment Separate Account, a vehicle to enable pension funds to invest in real estate.