Prudential has announced the acquisition of a majority stake in the African branches of the group Beneficial. This will enhance the position of the British insurer on the African continent.
Beneficial operates in non-life insurance in Cameroun and in life insurance in Côte d'Ivoire and Togo. On the other hand, Prudential is well settled in English-speaking Africa namely in Nigeria, Ghana, Kenya, Uganda and Zambia where the insurer is endowed with a large portfolio.
This acquisition consolidates Prudential’s international strategy which has recently initiated an external expansion policy, like the other leaders of global insurance.
Africa has become a hunting ground allowing the biggest groups to form entities or settle there at very competitive prices.
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