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Prudential (PRU) Partners with LeapFrog, Expands to Africa

Prudential Financial, Inc. PRU has entered into a $350 million investment partnership with LeapFrog Investments to gain access to high-growth African markets. The partnership will enable Prudential to foray into Africa and also enhance its long-term growth prospects in the region.

LeapFrog regularly grabs extraordinary businesses opportunities in Africa and Asia through strategic partnerships with the leaders in the areas. The insurance investor has been able to achieve immense growth, profitability and impact though its initiatives in this regard. The aforesaid partnership, which will be managed by LeapFrog, will be eyeing investments in life insurance companies in leading African economies like Ghana, Kenya and Nigeria over a three- to five-year time period.

Prudential is set to benefit from LeapFrog’s depth of experience and remarkable success in Africa as well as its deep focus on emerging economies. The partnership will not only enable the insurer to expand its operations to the continent but will also be substantially value accretive to its operational base. This investment partnership will address the need to close the protection gap for millions of people in emerging economies as well as facilitate access some of the world’s highest growth markets.

This partnership will also help LeapFrog boost its relationship with Prudential and become an alternative investment group with the diversification of its capabilities. Hence, this partnership will enable the multiline insurer to strengthen its global leadership position in life insurance, retirement and asset management.

Zacks Rank and Stocks to Consider

Prudential currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are Allianz SE AZSEY, Assured Guaranty Ltd. AGO and James River Group Holdings, Ltd. JRVR. While Allianz sports a Zacks Rank #1 (Strong Buy), Assured Guaranty and James River Group hold a Zacks Rank #2 (Buy).

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PRUDENTIAL FINL (PRU): Free Stock Analysis Report
 
ASSURED GUARNTY (AGO): Free Stock Analysis Report
 
ALLIANZ AG-ADR (AZSEY): Free Stock Analysis Report
 
JAMES RIVER GRP (JRVR): Free Stock Analysis Report
 
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