Grupo ST and Prudential announced the signing of an agreement for the sale of operations. What are these insurers like and the teams’ new strategy.
Within the framework of the reorganization of its global positioning, the American company Prudential Financial chose ST Group to continue with the products and services offered to its clients in Argentina and will acquire 100% of its insurance business in the country.
Completion of the transaction is subject to customary closing conditions and is expected to be completed in the second quarter of 2024. And, although the details of the agreement are still unknown, ST Group ensured business continuity and development of current Prudential teamwith the clear purpose of continuing a path to grow the business and improve services to its clients.
It should be remembered that Prudential Seguros was established in Buenos Aires in 1998, focusing on providing family protection to the middle and high income social sector of Argentina.
Grupo ST’s strategy with Prudential
Now, select ST Group to transfer your operations for its solvency, experience, track record, suitability and shared values and, at the same time, with this operation, this group seeks to enhance the original strategy of Prudential in Argentina and consolidate the position of its insurance companies in the market, strengthening its leadership in the life and retirement insurance segment.
This transaction is consistent with the strategic focus of Prudential Financial internationally in Japan and the fastest growing emerging markets around the world.
Source: Ambito
