The Financial Services Agency ordered Prudential Life Insurance and Gibraltar Life Insurance to suspend new sales through 31 January next year. It was also discovered that multiple employees of Sony Life Insurance had improperly received money, prompting criticism that sales practices across the industry were also a contributing factor.
On the 9th, the Financial Services Agency ordered Prudential Life Insurance and its group company Gibraltar Life Insurance to suspend new insurance sales from the 13th through 31 January next year.
At Sony Life Insurance, improper receipt of money by multiple sales employees was discovered, following which the Financial Services Agency conducted an on-site inspection in September.
Scandals involving major domestic life insurers continue unabated, and experts have pointed to the possibility that sales practices and corporate culture are involved.