Prudential Financial Inc. in Newark, N.J., announced the promotions Tuesday of the two senior line executives in its international insurance business to co-presidents of the unit and a reorganization of responsibilities between them.
Kazuo Maeda, a senior vice president in Prudential International Insurance and the president and CEO of its life planner operations, is to become co-president of the international unit and the country head for Japan. And Timothy Feige, a senior vice president in Prudential International Insurance and the president of Gibraltar Life, is to become co-president of Prudential International Insurance and head of life insurance operations outside Japan.
Mr. Maeda is to focus on expanding both Prudential's flagship life planner business, Prudential of Japan, and its traditional life insurance business, Gibraltar Life. Mitsuo Kurashige, an executive vice president at Prudential of Japan, was appointed the president of Gibraltar Life and will report to Mr. Maeda.
Mr. Feige is to continue leading Prudential's international insurance mergers and acquisitions team. He also will work to accelerate the growth of life planner insurance operations in Asia, Latin America, and Europe and will continue to guide insurance activities in new markets, including China.
Prudential said its biggest successes abroad have come in Asia, especially Japan and Korea. Its companies had about $547 billion of assets under management at March 31.
