Prudential Financial Inc. said it would voluntarily suspend new life insurance sales in Japan for 90 days, in a move to restore trust following misconduct by employees that has prompted a regulatory probe.
The suspension is slated to begin Feb. 9 as the firm plans to implement operational, organizational and governance changes, the company said Tuesday, as it reported fourth-quarter results. Prudential, which generated about 20% of its sales in Japan in 2024, intends to reimburse policyholders who have been wronged by the misconduct that’s estimated to have cost clients $20 million.
“Doing right by our customers is core to ...
