The man from the Pru breathed a sigh of relief this week after a £100,000 Lowry painting, The Gateway, which was stolen from the Prudential boardroom in January 1999, was recovered thanks to the Art Loss Register.
The return will be a great relief to the Prudential – not only because it has been missing from the insurer's headquarters for over a year, but also because it was apparently under-insured at the time – for only £75,000.
But group head of media relations at Prudential, Jeremy Reynolds said: "The market fluctuates and as a result our entire art collection is re-valued each year. Prudential's current trend is to keep up with the market value."
The Art Loss Register found the painting after following a search of a London auction house.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
