“Doing right by our customers is core to who we are at Prudential and we take this matter extremely seriously,” chief executive officer Andy Sullivan said in the statement. “We are taking decisive actions to address the compliance, operational, and governance issues identified by the investigation.”
(Feb 4): Prudential Financial Inc announced it would voluntarily suspend any new life insurance sales in Japan for 90 days, in a move to restore trust after some of its former employees engaged in financial misconduct.
The suspension, which is slated to begin on Feb 9, comes as the firm plans to implement operational, organisational and governance changes, the company said in a statement Tuesday. Prudential also plans to reimburse its policyholders that have been wronged.
