Prudential plc, one of the oldest and most strongly capitalised life insurance companies in the world, has completed its acquisition of Professional Life Assurance in Zambia, following the receipt of regulatory approvals.
The acquisition demonstrates Prudential’s commitment to Africa following the launch of businesses in Ghana and Kenya in 2014, and in Uganda last year. Professional Life Assurance will rebrand and trade under the Prudential name in due course.
Matt Lilley, Chief Executive of Prudential Africa, said: “We are very excited by the opportunities created by our acquisition ofProfessional Life Assurance. It is yet another milestone in our strategy of entering markets which possess strong economic growth and an expanding middle class. We look forward to working with our new colleagues throughout the country to further develop the business and help even more Zambians plan for the future.”