CNP Assurances to acquire Prudential operations in Brazil and Mexico for US$ 4 billion

French insurer CNP Assurances has entered a binding agreement to acquire the Latin American operations of Prudential Financial in Brazil and Mexico for approximately US$ 4.03 billion in cash. The deal, which involves the transfer of 100% of the capital of both subsidiaries, is expected to close in the second half of 2027, pending regulatory approval.

Through this acquisition, CNP Assurances aims to become one of the five largest insurance companies in Latin America. In Brazil, where the group has operated for over 30 years and maintains a partnership with Caixa Econômica Federal, the deal expands its reach to include Prudential’s network of 2,500 franchised life planners and 6.9 million insured individuals. The Brazilian division reported a revenue of 1.3 billion euros in 2025.

The transaction also marks CNP Assurances’ entry into the Mexican market, where the Prudential operations generated 100 million euros in revenue through a network of insurance agents. CNP estimates an internal rate of return (IRR) of 15% for the acquisition, though it notes a projected impact of approximately 20 percentage points on the group’s solvency capital requirement (SCR) coverage ratio.