Prudential Financial Inc. announced it would voluntarily suspend new life insurance sales in Japan for 90 days, in a move to restore trust after some former employees engaged in financial misconduct.
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 reportedBloomberg Terminal fourth-quarter results. Prudential, which generated about 20% of its sales in Japan in 2024, also intends to reimburse policyholders who have been wronged.
