Prudential: Ghana’s Express Life acquired

Prudential has bought a majority stake in Ghana’s Express Life, marking the UK company’s entry into the African life insurance market. The UK’s biggest insurer by market value had bought a majority stake from LeapFrog Investments for an undisclosed sum, LeapFrog said yesterday. A Prudential spokesman confirmed the acquisition. Private equity fund LeapFrog invested in Express Life in 2012, which was then the largest foreign direct investment in Ghana’s insurance industry. Express Life has branches in several provinces and 306 employees. – Bloomberg