Principal Financial vs Prudential Financial: Founders, CEOs and History
Principal Financial was founded in 1879 by Edward Temple and is led by Deanna Strable. Prudential Financial was founded in 1875 by John Fairfield Dryden and is led by Andrew (Andy) Sullivan.
Company facts
Principal Financial
- Founded
- 1879
- Headquarters
- Des Moines, Iowa, United States
- Current CEO
- Deanna Strable
- Employees
- 19,500
Prudential Financial
- Founded
- 1875
- Headquarters
- Newark, New Jersey
- Current CEO
- Andrew (Andy) Sullivan
- Employees
- 36,824
Founders
Principal Financial
Edward Temple
Edward Temple organized the Bankers Life Association in Des Moines in 1879 as an assessment-based mutual association offering low-cost life insurance to bankers and their employees.
Prudential Financial
John Fairfield Dryden
John Fairfield Dryden (1839-1911) founded Prudential in Newark, New Jersey in 1875. He brought British-style industrial insurance to the U.S.: small weekly premiums collected door to door so working families could afford a death benefit.
CEOs and their tenures
Principal Financial
- Dan Houston2015–2025
Former Chairman, President and CEO
Houston moved to executive chair when Strable became CEO, providing continuity after a decade leading the company.
Source - Deanna Strable2025–present
Chair, President and CEO
Strable's background across actuarial, Specialty Benefits and CFO roles gives her operating knowledge of all three of Principal's core businesses.
Source
Prudential Financial
- Charles Lowrey2018–2025
Chief Executive Officer (Former)
Charles Lowrey served as CEO of Prudential Financial from December 2018 to March 2025, leading the company through the COVID-19 pandemic, the post-pandemic interest rate normalization, and a strategic repositioning of the company's portfolio.
Source - Andrew (Andy) Sullivan2025–present
Chairman, Chief Executive Officer and President
Sullivan became CEO on March 31, 2025, and later also became Chairman. He previously led Prudential's international businesses and PGIM.
Source
Timeline: Principal Financial and Prudential Financial side by side
1875Prudential Financial
Founding of the Prudential Friendly Society
John Fairfield Dryden incorporates the Prudential Friendly Society in Newark, New Jersey on October 13, 1875, with initial capital of $30,000.
1879Principal Financial
Bankers Life Association founded
Edward Temple organizes the Bankers Life Association in Des Moines, Iowa, to provide affordable life insurance to bankers and their employees.
1896Prudential Financial
Adoption of the Rock of Gibraltar Logo
Advertising agent Mortimer Remington proposes using the Rock of Gibraltar as Prudential's corporate symbol, and the company adopts the well-known image along with the tagline 'The Prudential Has the Strength of Gibraltar.' This marketing decision creates one o…
1902Prudential Financial
Founder Elected to U.S. Senate
John Fairfield Dryden is appointed to the United States Senate from New Jersey, becoming one of the few American corporate founders of his era to serve in elected federal office while still actively running his company.
1943Prudential Financial
Surpassing $10 Billion in Insurance in Force
Prudential surpasses $10 billion in total insurance in force, a milestone that reflects decades of steady growth through the Great Depression and World War II.
1969Prudential Financial
Launch of Variable Life Insurance Products
Prudential launches its first variable life insurance products, linking policyholder account values to equity market returns and beginning the company's long transition from pure protection insurer toward investment-linked financial products.
1981Prudential Financial
Acquisition of Bache Securities
Prudential acquires Bache Securities for approximately $385 million, creating Prudential-Bache Securities and marking the company's most ambitious attempt to become a full-service financial services firm.
1995Prudential Financial
Prudential-Bache Limited Partnership Scandal Settlement
Prudential-Bache Securities (later Prudential Securities) reaches a landmark settlement with securities regulators over the fraudulent sale of limited partnerships to retail investors during the 1980s.
2001Principal Financial
Demutualization and IPO
Principal converts from a policyholder-owned mutual insurer to a public stock company and lists its shares in October 2001.
2001Prudential Financial
Landmark Demutualization IPO Raises $3 Billion
After 126 years as a policyholder-owned mutual company, Prudential completes its conversion to a publicly traded stock corporation in December 2001, raising approximately $3 billion in an IPO conducted just months after the September 11 terrorist attacks.
2001Prudential Financial
Acquisition of Gibraltar Life Insurance Co., Ltd.
Prudential acquires Gibraltar Life Insurance Co., Ltd. In Japan through a government-facilitated transaction, establishing a major presence in the world's second-largest life insurance market.
2013Principal Financial
AFP Cuprum acquisition in Chile
Principal acquires Chilean pension manager AFP Cuprum, expanding its Latin American retirement business.
2013Prudential Financial
SIFI Designation by FSOC
The Financial Stability Oversight Council designates Prudential Financial as a Systemically Important Financial Institution, threatening to impose Federal Reserve oversight and enhanced capital requirements similar to those applied to the largest U.S. Banks.
2018Prudential Financial
SIFI Designation Rescinded
A federal court rules in Prudential's favor, overturning its SIFI designation in a landmark regulatory decision that validates the company's argument that its risk profile was different from that of the large banks for which the SIFI framework was designed.
2019Principal Financial
Wells Fargo Institutional Retirement & Trust deal
Principal acquires Wells Fargo's Institutional Retirement & Trust business for about $1.2 billion, adding large-scale recordkeeping and trust operations.
2022Principal Financial
Exit from retail fixed annuities and individual universal life
Following a 2021 strategic review, Principal reinsures in-force retail fixed annuity and universal life blocks and stops selling those capital-intensive products.
2025Principal Financial
Deanna Strable becomes CEO
Deanna Strable succeeds Dan Houston as president and CEO effective January 7, 2025, and later adds the board chair role.
2025Prudential Financial
Andy Sullivan Becomes CEO
Andrew (Andy) Sullivan succeeds Charles Lowrey as CEO on March 31, 2025, as Prudential marks its 150th anniversary. Sullivan previously led Prudential's international businesses and PGIM. He later also became Chairman.
2026Principal Financial
Beam Benefits acquisition completed
Principal closes its acquisition of Beam Benefits, an employee benefits company serving more than 25,000 small businesses, on September 1, 2026.
2026Prudential Financial
Q1 2026 Results
Prudential reports $597 million of Q1 2026 net income and $1.576 trillion of assets under management and administration.
2026Prudential Financial
Prudential of Japan Suspends New Sales
After internal findings of employee misconduct, Prudential of Japan voluntarily suspends new sales from February 9, 2026 for 90 days and sets up an independent customer reimbursement program.
2026Prudential Financial
Japan Suspension Extended to November 5
In April 2026, Prudential extends the Prudential of Japan sales suspension by 180 days, through November 5, 2026, and withdraws an EPS target.
2026Prudential Financial
Q2 2026 Results
Q2 2026 net income is $985 million ($2.80 per share), adjusted operating income per share rises 14% to $4.08, and assets under management reach $1.642 trillion.
Acquisitions
Principal Financial
- Beam Benefits2026Undisclosed
- Wells Fargo Institutional Retirement & Trust business2019$1.2B
Prudential Financial
- Assurance IQ2019$2.4B
- AIG Star Life and AIG Edison Life (Japan)2011$4.8B
- American Skandia (U.S. Variable annuity operations)2003$1.2B
- Gibraltar Life Insurance Co., Ltd. (Japan)2001Undisclosed
- Bache Securities1981$385M
Questions about Principal Financial vs Prudential Financial
Who is the CEO of Principal Financial Group, Inc. and Prudential Financial Inc.?
Principal Financial Group, Inc. is led by Deanna Strable and Prudential Financial Inc. is led by Andrew (Andy) Sullivan. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Principal Financial Group, Inc. founded vs Prudential Financial Inc.?
Prudential Financial Inc. was founded in 1875 — 4 years before Principal Financial Group, Inc., which was founded in 1879. Prudential Financial Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Principal Financial Group, Inc..
How many employees does Principal Financial Group, Inc. have compared to Prudential Financial Inc.?
Principal Financial Group, Inc. employs approximately 19,500 people, while Prudential Financial Inc. employs approximately 36,824. Prudential Financial Inc. has the larger workforce at 36,824 employees, compared to Principal Financial Group, Inc.'s 19,500. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Principal Financial Group, Inc. and Prudential Financial Inc. headquartered?
Both Principal Financial Group, Inc. and Prudential Financial Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Principal Financial Group, Inc. and Prudential Financial Inc.?
Principal Financial Group, Inc. was founded by Edward Temple. Prudential Financial Inc. was founded by John Fairfield Dryden.
Which company has a longer operating history — Principal Financial Group, Inc. or Prudential Financial Inc.?
Prudential Financial Inc. has been operating for approximately 151 years, making it the more established of the two companies. Principal Financial Group, Inc. has been in operation for around 147 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Principal Financial vs Prudential Financial overview