The Financial Services Agency issued Prudential Life Insurance Company with a partial business suspension order halting new insurance solicitations and contracts for approximately 3 months, and on the same day issued Gibraltar Life Insurance with similar orders and a business improvement order. It also recognized 4,000 cases of improper insurance solicitation.
On 9 October 2026, the Financial Services Agency issued Prudential Life Insurance Company with a partial business suspension order halting new insurance solicitations and contracts for approximately 3 months, along with a business improvement order. It also issued Prudential Holdings of Japan, the holding company, with an improvement order that includes clarifying management responsibility.
The orders apply from 13 October to 31 January 2027. Similar partial business suspension and business improvement orders were also issued to Gibraltar Life Insurance, which belongs to the same holding group.
As grounds for the action, the Financial Services Agency said that successive management teams had left the matter unaddressed despite repeated financial misconduct by life planners under a fully performance-linked compensation system.
The Financial Services Agency criticized the company’s insufficient recognition of risks inherent in its business model and its years of inaction, explaining that it had prioritized sales promotion and remained fixated on its existing model.