Prudential Financial to pay $100 million in US FTC settlement

Prudential Financial

06/08/2025 21:39

Aug 6 (Reuters) - The U.S. Federal Trade Commission reached a $100 million settlement with Prudential Financial PRU.N to resolve claims a former unit misled consumers into buying healthcare plans that did not provide the coverage it promised.

A settlement with Assurance IQ, which Prudential decided to shut down last year, was filed on Wednesday in Seattle federal court. Assurance did not admit or deny wrongdoing.

The FTC accused Assurance of targeting consumers in need of low-cost insurance coverage, both online and in telemarketing calls, with representations that its healthcare plans provided comprehensive coverage and essential health benefits of the sort provided under the Affordable Care Act.

 (Reporting by Jonathan Stempel in New York; Editing by Chris Reese)

 ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.thomsonreuters.com@reuters.net))