Prudential Financial sells Brazilian, Mexican units to CNP for $4B

Prudential Financial (PRU) agreed to sell Prudential of Brazil and Prudential of Mexico to the CNP Assurances Group for a total of $4.025B cash, the company said Tuesday.

The move furthers the company's plan to focus on its core strengths. The sale follows the announcements of the sale of Prudential's (PRU) interests in several joint ventures, including stakes in PT PFI Mega Life Insurance in Indonesia, Alexforbes in South Africa, and ICEA LION in Kenya.

"We’re continuing to build momentum and advance our strategy to direct capital to the businesses and markets where we see the greatest opportunity for long-term growth and value creation," said Prudential Chairman and CEO Andy Sullivan.

Prudential (PRU) plans to use proceeds from the sale to support its capital allocation priorities and invest in its highest-priority growth opportunities in retirement, asset management, and select protection businesses in the U.S., Japan, and select European markets.

For CNP Assurances, the acquisition meshes with its strategy to expand and diversify its businesses in Latin America, strengthening its capabilities in Brazil while establishing a presence in Mexico.

The deal is expected to close in H2 2027.

Prudential Financial (PRU) stock rose 0.3% in premarket trading.

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