Add as a preferred source on GooglePrudential Financial to Sell Brazil, Mexico Units for $4.025 Billion
CNP Assurances would acquire both insurance businesses outright. The companies expect to close the deal in the second half of 2027, subject to regulatory approvals.
Prudential Financial announced Oct. 20 that it had signed agreements to sell its insurance businesses in Brazil and Mexico to CNP Assurances for $4.025 billion in cash, extending its planned withdrawal from emerging markets.
The proposed deal covers 100% of both businesses. CNP Seguradora would acquire Prudential of Brazil, while CNP Assurances Holding would buy Prudential of Mexico. The cash price is subject to adjustments at closing.
Prudential of Brazil has 6.9 million policyholders. Its distribution network includes 2,500 franchised Life Planners as well as other partnerships.
The agreement follows announced sales of Prudential’s stakes in joint ventures in Indonesia, South Africa and Kenya. Those transactions are part of the company’s effort to reduce its presence in emerging markets.
“We remain focused on narrowing our geographic footprint and building a simpler, more focused Prudential,” Prudential Financial chairman and CEO Andy Sullivan said.
The Brazil and Mexico transaction requires regulatory approvals. The companies expect it to close in the second half of 2027.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.