Prudential outlines Japan sales suspension's financial impact

Prudential Financial Inc. has provided an update on the financial implications of its decision to suspend sales of certain variable annuities in Japan. The company stated that the suspension, which began in the fourth quarter of 2023, is expected to have a material impact on its earnings for the first quarter of 2024. Prudential Financial Inc. is taking steps to mitigate the financial effects and is working with regulators to address the issues that led to the suspension. The company anticipates that the suspension will remain in place for an indefinite period.