(Ecofin Agency) - Leapfrog Investment announced it has acquired a majority stake in UT Life insurance Company Ltd, a Ghanaian firm specialized in life-insurance services. This is the company’s second investment in this sub-sector, and the third one in insurance.

The announcement regarding this investment came few days after Prudential group announced it provided Leapfrog with $350 million to be invested in African insurance firms with high growth potential. Fortunately, UT Life falls within this category as it exhibits a rapid growth and aims to get a million customers by 2020.

A goal which the firm plans to achieve with its innovative and affordable services. “Leapfrog is the leading company in designing insurance products to mass consumers. He is the right partner to take UT Life to the next level of growth,” said Martyn Mensah, Director General UT Holdings.

Leapfrog should keep acquiring stakes in firms. On December 15, 2015, led by Andrew Kuper, the firm raised its volume of funds available for responsible investments to more than a billion dollars. A sum to which insurers contributed significantly and which is reserved for new transactions in the sectors of finance and health, in Africa and Asia.

Idriss Linge