Prudential Life Ordered to Report Measures after Misconduct

Tokyo, April 11 (Jiji Press)--Japan's Financial Services Agency has ordered Prudential Life Insurance Co. and its holding company to report measures to prevent a recurrence of acts of misconduct involving former employees, people familiar with the matter said Friday.

The order was issued under the insurance business law.

A former Prudential Life employee was arrested by police in June last year on suspicion of fraud. The former employee allegedly defrauded 34 customers of some 750 million yen in total between 1999 and 2023.

Another former employee arrested by police last year is suspected of having cheated 10 customers of a total of some 170 million yen.

In February this year, yet another former employee was arrested by police on suspicion of leaking customers' personal information.

[Copyright The Jiji Press, Ltd.]