Prudential Sells Brazil and Mexico Businesses for $4.03 Billion

American insurance company Prudential Financial is selling its businesses in Brazil and Mexico to French CNP Assurances for $4.03 billion.

Prudential had previously sold its businesses in Indonesia, South Africa and Kenya. According to the company's CEO Andy Sullivan, Prudential wants to halve the number of countries in which it operates.

The proceeds from the sale will be used by the company to expand its business in the US, Japan and several European countries. The main focus areas will be pension products, asset management and insurance.

By mid-2026, Prudential was managing approximately $1.6 trillion in assets. With this deal, CNP Assurances will expand its operations in Brazil and Mexico.

The deal is expected to close in the second half of 2027. Prudential's financial advisor is Morgan Stanley, while CNP Assurances is being advised by Goldman Sachs.

Source: Reuters