Michael White has joined Prismic Life Reinsurance, a Bermuda-based life and annuity reinsurer and Prismic subsidiary, as CEO, Bermuda.
The executive is joining the company from InEvo Re, a life & annuity reinsurer specialising in asset-intensive reinsurance and risk management solutions for global insurers, where he served as Chief Executive Officer since April 2024.
“I’m excited to share that I’m starting a new position as CEO (Bermuda) at Prismic Life Reinsurance! I’ll miss working with the team at InEvo Re and wish them future success as they continue to build on a strong start,” White said regarding the move.
Seasoned industry veteran, White brings decades of financial and reinsurance experience to his new role. His previous leadership positions include serving as SVP Reinsurance & CFO for Resolution Re, part of Resolution Life Group; and as Group Chief Financial Officer for BF&M Group.
Prior to that he spent nine years at Sun Life Financial, a role he took on following his six-year tenure as a PwC Consultant.
White’s appointment coincides with significant growth for Prismic. The company’s parent entity recently secured $1.3 billion in a third round of funding sponsored by Prudential Financial, Inc and Warburg Pincus.
This capital provides additional capacity for Prismic’s reinsurance platform. Previously, Prismic raised over $1.5 billion in capital to support the reinsurance of approximately $17 billion of PFI’s US and Japanese liabilities.
