Prudential Extends Japan Life Sales Pause, Pulls Growth Goal (2)

Prudential Financial Inc. is extending a voluntary suspension of new life insurance sales in Japan that the company undertook February in a bid to restore trust following a regulatory probe into employee misconduct.

The sales pause, which was initially expected to end on May 10, will continue through Nov. 5. Prudential said the complexity of the operational, governance and organizational changes it needs to make before resuming sales is greater than previously expected, according to a statement on Tuesday.

An independent third-party review of Prudential of Japan’s management system is still ongoing, and is expected to take another several months ...