An internal investigation at Prudential Life Insurance's Japanese unit has revealed that more than 100 current and former employees defrauded around 500 customers of roughly ¥3.1 billion ($19.6 million). The CEO will step down next month to take responsibility. The probe was prompted by the arrest of a former employee in June 2024.
Prudential Life Insurance, the Japanese subsidiary of the American insurer, disclosed on Friday, January 16, 2026, the findings of an internal probe that uncovered misconduct by more than 100 current and former employees. These individuals defrauded approximately 500 customers, resulting in losses totaling about ¥3.1 billion ($19.6 million).
The investigation began in August 2024, following the arrest of a former employee in June of that year on suspicion of fraudulent activities. Additional cases, including improper investment solicitations, surfaced afterward, prompting the company to examine its operations thoroughly.
This scandal highlights vulnerabilities in corporate governance within Japan's insurance sector. In response, the CEO announced his resignation effective next month, assuming responsibility for the oversight failures. The revelations could spur broader regulatory scrutiny and compliance efforts across the industry.
