Prudential Financial, Inc.PRU
▼ NegativeDemandrelevance
New contract value plunged 92.8% due to suspended sales from fraud issue, indicating collapse in customer demand.
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Prudential Financial, Inc.Prudential Life Insurance announced its results for the April-June 2026 quarter on the 27th, with new contract value plunging 92.8% year-on-year to 69 billion yen. The company has suspended sales activities for new contracts since early February due to a fraud issue involving employees. Most of the new contracts recorded during the suspension were additional enrollments by new employees of existing corporate clients. Surrender payments totaled 148.5 billion yen, exceeding the 90.5 billion yen in the same period last year, reflecting the impact of the fraud issue.
Prudential Financial, Inc.New contract value plunged 92.8% due to suspended sales from fraud issue, indicating collapse in customer demand.