The scheme offers a 12-month training contract at one of Prudential’s three offices and the opportunity to achieve a recognised vocational qualification.
All apprentices will be paid the National Living Wage.
Prudential’s investment followed the completion of a pilot scheme launched in 2013, in which 47 young people aged 16-26 took part.
Its scheme was developed with the help of the National Apprenticeship Service (NAS), which is part of the government’s Skills Funding Agency.
Prudential corporate services executive director Cathy Lewis said the new scheme aims to offer opportunities to young people who otherwise may not have been considered for a career in the financial sector.
“The roles offer a range of opportunities, requiring different levels of qualifications, and we are keen to attract a diverse range of young people to fill these positions,” she said.
“Our aim is to give the young people who join our apprenticeship programme full-time work, combined with the opportunity to learn life skills that will stand them in good stead in developing their careers after completion of the programme.”
Prudential is also taking part in the government’s employer-led apprenticeship reform in England, acting as ‘Apprenticeship Trailblazer’ which allows it to influence the content of future apprenticeships.
Vacancies for the 2014 Prudential apprenticeship intake will be advertised in May 2014 on the Apprenticeships in Scotland website in Scotland and the NAS website in England.
