LeapFrog Investments Exits Ghana-based Express Life to Prudential (Sub-Saharan Africa)

Source: LeapFrog Investments

LeapFrog Investments, a specialist investor in emerging markets financial services, has exited Ghana-based insurance provider Express Life, selling its majority stake to financial services institution Prudential. LeapFrog originally invested US$5.5 million in the company in May 2012. Since then, Express Life, which provides savings and insurance products to emerging consumers in both urban and rural areas, has reportedly expanded its reach from 60,000 people to 730,000 people. Financial details of the transaction were not disclosed.