A look at how Prudential's $2.35B acquisition of Assurance fits into its financial wellness strategy and the broader insurance distribution landscape.
On September 5, Prudential announced that it acquired Bellevue-based Assurance, an online consumer insurance distribution platform that sells life, health, medigap, auto, and home insurance policies. At $2.35B (not inclusive of an additional $1.15B in potential cash and equity earnout), the acquisition amounts to close to 7% of Prudential’s current market capitalization.
Below, we take a look at the Assurance transaction to understand:
- Big takeaways
- Why now
- Why this matters