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Prudential of Brazil
Trends
- 1Prudential Financial Sells Brazil and Mexico Units for $4 Billion▼Prudential Financial Sells Prudential of Brazil, Prudential of Mexico for $4 Billion
Prudential Financial has agreed to sell its insurance operations in Brazil and Mexico, Prudential of Brazil and Prudential of Mexico, in a deal valued at $4 billion, according to the Wall Street Journal. The sale marks a significant scaling back of the US insurer's Latin American presence, and the transaction is drawing attention in financial markets as one of the larger insurance divestments in the region.
- 2Prudential sells Brazil and Mexico units to CNP for $4 billion●Prudential sheds Brazil, Mexico units to CNP for $4 billion as it narrows its focus
Prudential has agreed to sell its Brazilian and Mexican life insurance businesses to CNP Assurance for around $4 billion as the insurer narrows its focus on Asia and Africa. The divestment marks another step in Prudential's strategy to streamline operations after separating from M&G and its US business, with proceeds expected to be returned to shareholders.