Kenya based ICEA LION Insurance has announced a partnership deal with LeapFrog Strategic Africa Investments.
The partnership is expected to support the ICEA LION Group’s strategy of focusing on customer connectivity, growth and innovation, digitalisation, development of new products and enhancement of operating synergies throughout its various operations, reported Wealth Advisor.
LeapFrog Strategic Africa Investments (LSAI) is to acquire a 24% stake in ICEA LION Insurance Holdings. The investment will be made by Eastern Africa Holdings, a wholly owned special purpose entity of Leapfrog. The deal is the second investment of LSAI.
ICEA LION Holdings is the non-operating holding company of the ICEA LION Group. The group is primarily involved in insurance and asset management across East Africa.
LSAI is an investment partnership established in 2016 between LeapFrog Investments and the US based global financial services leader Prudential Financial, Inc. The objective of LSAI is to identify and make strategic investments in high quality financial services companies in selected African geographies.
The first investment of LSAI was in the Enterprise Group in Ghana which was concluded in August 2017.