Another Prudential Financial Japan unit probed over alleged misconduct cases, Nikkei reports (updated)

Prudential Financial

21/04/2026 22:40

Updates with context, further details from paragraph 3 onwards

April 22 (Reuters) - A second Japanese unit of American insurer Prudential Financial PRU.N is suspected of having several instances of misconduct by former employees, Nikkei Asia reported on Wednesday.

Dozens of cases surfaced during an investigation into Gibraltar Life Insurance where former employees were suspected of mishandling customer funds, Nikkei added, citing unnamed sources.

The case comes on the heels of Prudential Financial's Japanese life insurance subsidiary reporting in March that some workers assigned to contracted agencies had improperly removed operational information and shared it with other employees.

The report added that some of the cases in the second unit are similar to a separate Prudential Life scandal from January, which involved fictitious investments and other forms of misappropriation.

"At this time, the cases at Gibraltar are suspected incidents that have yet to be confirmed," Nikkei said, adding that the compensation committee will examine each case to determine if restitution is needed and the appropriate amount.

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Vijay Kishore)

 ((Shivangi.Lahiri@thomsonreuters.com;))