Motofusa Hamada to succeed retiring Mitsuo Kurashige as CEO of Japanese insurance coverage operations – InsuranceNewsNet

NEWARK, N.J., Sept. 22, 2022 – Motofusa Hamada, a 30-year veteran of Prudential Monetary, Inc.’s (NYSE: PRU) Japanese insurance coverage operations, will grow to be CEO of that enterprise efficient Jan. 1, 2023, the corporate introduced. Present CEO Mitsuo Kurashige will retire on Dec. 31, 2022.

Hamada, who joined Prudential of Japan in 1992, was appointed to his earlier position as president and CEO of Prudential Life Insurance coverage Firm of Japan in 2018. Upon first becoming a member of the corporate, he held numerous roles overseeing dwelling workplace features earlier than being promoted to company vice chairman in 2004. In 2007, he was promoted to senior vice chairman after which to government vice chairman in 2011.

As CEO of the Japan insurance coverage operations, Hamada will oversee the corporate’s three life insurance coverage companies in Japan – Prudential Life Insurance coverage, Gibraltar Life Insurance coverage, and Prudential Gibraltar Monetary Life Insurance coverage. He additionally assumes the position of consultant director, chairman and CEO of Prudential Holdings of Japan, Inc.

“Hamada-san is a seasoned trade skilled, and I’m assured that along with his expertise and talent, he is not going to solely lead the corporate’s continued progress, however set the stage for its continued success for the following 30 years and past,” stated Scott Sleyster, government vice chairman and head of Prudential’s Worldwide Companies.

Kurashige, who’s retiring after 11 years as head of the Japan enterprise, will keep on part-time as a director. He joined Prudential Life Insurance coverage Firm, Ltd. in 1991 and have become head of its actuarial division in 1994 earlier than being appointed senior vice chairman, chief monetary officer and chief actuary of Prudential of Japan that very same 12 months. He subsequently served in a number of different senior roles earlier than turning into CEO of Gibraltar Life Insurance coverage in 2007. He remained in that position till 2011 when he grew to become consultant director, president and CEO of Prudential Holdings of Japan and was named chairman and CEO in 2016.

“We’re very grateful to Kurashige-san for his many contributions to the insurance coverage operations in Japan over his 31 years with the corporate,” stated Sleyster. “Beneath his management, the Japanese enterprise grew considerably when it comes to variety of prospects served, gained market share in a difficult demographic setting and is in the present day among the many prime life insurers within the Japanese market. He leaves behind a robust management staff positioned for progress and stability.

About Prudential Monetary

Prudential Monetary, Inc. (NYSE: PRU), a worldwide monetary companies chief and premier lively international funding supervisor with greater than $1.4 trillion in belongings beneath administration as of June 30, 2022, has operations in the US, Asia, Europe, and Latin America. Prudential’s numerous and gifted workers assist make lives higher by creating monetary alternative for extra folks by increasing entry to investing, insurance coverage, and retirement safety. Prudential’s iconic Rock image has stood for power, stability, experience and innovation for greater than a century. For extra info, please go to information.prudential.com.