Leapfrog to acquire stake in ICEA LION Insurance

0
379

LeapFrog Strategic Africa Investments (LSAI) is set to acquire a 24 per cent ICEA LION Insurance subject to approval by the Inusurance regulatory authority(IRA).

The investment will be made by Eastern Africa Holdings Limited, a wholly LeapFrog Strategic Africa Investment owned special purpose entity.

LeapFrog Strategic Africa Investment is an investment partnership established in 2016 between LeapFrog Investments and the US based global financial services leader Prudential Financial, Inc. (PFI) that functions as a $350million separate managed fund.

ICEA LION Holdings is the non-operating holding company of the ICEA LION Group whose core business insurance and asset management across East Africa.

The first investment of LeapFrog Strategic Africa Investment was an investment into the Enterprise Group Limited in Ghana concluded in August 2017. The ICEA LION Holdings transaction will be its  the second investment in sub-Saharan Africa.

The partnership is expected to support the ICEA LION’s  strategy of focusing on customer connectivity, growth and innovation, digitization, development of new products and enhancement of operating synergies throughout its various operations.

The company is looking to expand its core business.

LEAVE A REPLY

Please enter your comment!
Please enter your name here