Publicis won the contract after a pitch against John Brown Citrus Publishing and Redwood.
The title, called Prudential Magazine, will launch in the summer and target a specific section of Prudential's customer base. Publicis Blueprint said it is still working on the frequency and targeting of the magazine.
Prudential currently publishes a newsletter called Prudential News that goes to its entire customer base. This will continue to be produced in-house, with Prudential Magazine going to a smaller number of customers.
Publicis has hired Carol Bronze, a former deputy editor of Cosmopolitan and Eve and the launch editor of Tesco magazine, to the Prudential Magazine editorial team.
Roger Ramsden, Prudential's marketing director, said: "This is exactly the right time for us to take our customer communications to the next level and Publicis Blueprint's creative fits perfectly with how we want the brand represented."
Jason Frost, the managing director of Publicis Blueprint, said: "It was a tough pitch process against the other major players in this field, but we are very pleased Prudential has awarded us the business."