Prudential Financial, Inc. (NYSE: PRU) announced on October 9, 2026, that it has received business suspension and improvement orders from Japan’s Financial Services Agency (FSA) regarding its Japanese subsidiaries. The orders were issued under Article 132, Paragraph 1 of the Insurance Business Act.
The business suspension order for Prudential of Japan (POJ) extends the period during which the company cannot solicit new business to January 31, 2027. This extension is intended to allow additional time to advance remediation actions already underway. The FSA’s inspection findings, along with a review by a Special Investigation Committee, validated the priorities established at the beginning of the voluntary suspension. These priorities include strengthening governance and accountability, enhancing the sales model to focus on customer outcomes, simplifying the organization, and reinforcing a culture of accountability.
In addition, Gibraltar Life Insurance Company, Ltd. received a partial business suspension order that applies to its Life Consultant channel through January 31, 2027. The company noted that this suspension does not apply to its independent agency channel. Both POJ and Gibraltar have conducted outreach to customers and are evaluating and enhancing their operating models to ensure customer-focused outcomes.
Prudential Holdings of Japan, Inc. (PHJ) received a business improvement order. Under these orders, PHJ, POJ, and Gibraltar are required to submit business improvement plans to the FSA by the end of November 2026 and report on their progress regularly.
The company stated that POJ and Gibraltar remain financially sound and able to meet their obligations. The suspension does not apply to Prudential Financial’s or PGIM’s other business units in Japan, including Prudential Gibraltar Financial Life (PGFL). Japan continues to be a key strategic priority and a core component of Prudential Financial’s global business portfolio.
Prudential Financial’s Chairman and CEO, Andy Sullivan, and CFO will host a conference call on Friday, October 9, 2026, at 8:00 a.m. ET, to discuss the orders, estimated financial impacts, and the path forward. A replay of the call will be available on the Investor Relations website through October 23.
