Prudential Financial is selling its Brazilian and Mexican operations to French insurer CNP Assurances for $4.03 billion in cash. The investment manager and financial services provider entered a definitive agreement Tuesday to exit emerging markets. The deal includes Prudential of Brazil and Prudential of Mexico.
This move comes after Prudential sold its interest in several joint ventures, including stakes in PT PFI Mega Life Insurance in Indonesia, Alexforbes in South Africa, and ICEA Lion in Kenya. CNP Assurances, a subsidiary of La Banque Postale, said the acquisition is part of its strategy to expand and diversify in Latin America, strengthening capabilities in Brazil while establishing a presence in Mexico. The transaction is expected to close in the second half of 2027, subject to regulatory approvals.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing