Prudential plc completes acquisition of Prudential Zenith Life Insurance Limited to strengthen bancassurance in Africa
Sep 28, 2024•about 1 year ago
Acquiring Company
Prudential
Acquired Company
Prudential Zenith Life Insurance Limited
Description
Prudential plc has finalized an agreement to acquire the remaining shares of Prudential Zenith Life Insurance Limited (PZL), its joint venture business in Nigeria. This strategic move is consistent with Prudential's focus on deploying capital in its existing operations with the greatest potential, particularly in the African market. The acquisition aims to enhance Prudential’s multi-channel growth platform and distribution capabilities in the region by leveraging existing bancassurance partnerships with Zenith Bank in Nigeria and Ghana.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed