Prudential Financial Provides Update on FSA Orders and Path Forward for its Japan Businesses
Key Highlights
- ➤POJ business suspension extends new-business solicitation ban through January 31, 2027
- ➤Gibraltar Life Consultant channel suspension also runs through January 31, 2027
- ➤PHJ, POJ, and Gibraltar must submit business improvement plans by end-November 2026
- ➤Prudential Financial (PRU) says Japan businesses remain financially sound and fully supported
Expert Statements
Hiromitsu Tokumaru, President and Chief Executive Officer of Prudential of Japan
“We once again extend our deepest apologies to the customers and all other stakeholders who have been affected by this situation.”
Hiromitsu Tokumaru, President and Chief Executive Officer of Prudential of Japan
“We are fundamentally reshaping how we operate.”
Hiromitsu Tokumaru, President and Chief Executive Officer of Prudential of Japan
“Through our established priorities, we are creating a business that will be more resilient, more accountable, and better equipped to earn and maintain our customers’ trust.”
Hiromitsu Tokumaru, President and Chief Executive Officer of Prudential of Japan
“Our goal is to return to market with an operating model that reflects the lessons learned and positions POJ for long-term success.”
Hiroyoshi Kaburagi, President and Chief Executive Officer of Gibraltar
“Gibraltar has a strong foundation, and our focus will be on making it even stronger.”
Hiroyoshi Kaburagi, President and Chief Executive Officer of Gibraltar
“As we enhance our operating model, we will do so with an unwavering commitment to serving our customers and earning their trust every day.”
Hiroyoshi Kaburagi, President and Chief Executive Officer of Gibraltar
“We remain deeply committed to building on the strengths that differentiate Gibraltar.”
Brad Hearn, President and Chief Executive Officer of Prudential Holdings of Japan
“The actions we are taking are about creating a stronger foundation for the future of our Japan businesses.”
Brad Hearn, President and Chief Executive Officer of Prudential Holdings of Japan
“While POJ and Gibraltar are following paths tailored to their unique circumstances, our shared objective is clear: to strengthen governance, enhance accountability, and restore and reinforce the customer trust that has underpinned our business in Japan for nearly four decades.”
Brad Hearn, President and Chief Executive Officer of Prudential Holdings of Japan
“As we return to market, we will do so as stronger and more resilient organizations, well positioned to serve customers and deliver sustainable value over time.”
Andy Sullivan, Chairman and Chief Executive Officer of Prudential Financial
“Japan remains one of Prudential’s most important markets and a cornerstone of our global franchise.”
Andy Sullivan, Chairman and Chief Executive Officer of Prudential Financial
“The work underway reflects our determination not only to address current challenges, but to build an even stronger foundation for the future.”
Andy Sullivan, Chairman and Chief Executive Officer of Prudential Financial
“By reinforcing the trust that has long defined our relationships with customers and continuing to strengthen our businesses, we believe our Japan franchise will emerge more resilient, more competitive, and well positioned to create value for customers, employees, and shareholders for years to come.”
Prudential Financial Provides Update on FSA Orders and Path Forward for its Japan Businesses
* Business suspension order received from Japan’s Financial Services Agency (“FSA”) for Prudential of Japan (“POJ”) extends the period in which it cannot solicit new business to January 31, 2027, and partial business suspension order for Gibraltar Life (“Gibraltar”) applies to its Life Consultant channel through the same date
Get started
Create a free account to read the full story.