Prudential Plc has announced the completion of the acquisition of Express Life Insurance Company Limited in Ghana following approval from National Insurance Commission (NLC).
The acquisition, which was announced on December 2, 2013, marks the entry of Prudential into the nascent but fast-growing African life insurance industry.
Matt Lilley, Group Director of Strategy and Corporate Development, Prudential Plc said: 'We are very excited by the opportunities created by the acquisition of Express Life and by the outlook for Ghana in general. The acquisition continues Prudential's well established strategy of pursuing long-term opportunities in emerging markets which have robust economic growth and an expanding middle-class with significant needs for the investment of their growing wealth, as well as the protection of their health.'
Emmanuel Aryee, Chief Executive Officer (CEO) of Express Life, said: 'We are looking forward to working with our new colleagues at Prudential and over the coming months, we will be announcing our plans for updated products, our distribution and policy servicing channels and our community investment programme.'
'We are confident that we can build Ghana's leading life insurance business. At the moment, far too few Ghanaians enjoy the benefits that life insurance offers. Life insurance gives people the opportunity to face uncertainties with greater confidence to save for a more prosperous future and to provide better lives for their children.
Source Daily Guide
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