Reinsurance News
Prismic Life Reinsurance
Prismic closes oversubscribed capital raise to support wider range of reinsurance opportunities
20th May 2026
Prismic Life Holding Company, LP (Prismic), a Bermuda-based life and annuity reinsurance platform sponsored by Prudential Financial, Inc. and Warburg Pincus, has announced the completion of an oversubscribed capital raise, securing approximately $1.9 billion in total commitments and exceeding its original $1.6 billion target. Prismic said the additional capital expands its ... Read the full article
Daiichi to reinsure block of whole life and annuity policies with Prismic Life
9th April 2026
Daiichi Life Insurance Co., Ltd. is set to reinsure a Yen-denominated in-force block of whole life and annuity policies with Bermuda-based life and annuity reinsurer and Prismic subsidiary, Prismic Life Reinsurance. As per the terms, Daiichi’s obligations to policyholders will remain unchanged following the reinsurance agreement, and the firm will continue ... Read the full article
AM Best assigns Credit Ratings to Prismic Life Re and PL Re International
24th December 2025
AM Best has assigned Credit Ratings to Prismic Life Reinsurance, Ltd. (Prismic Life Re) and Prismic Life Reinsurance International, Ltd. (PL Re International), both domiciled in Bermuda, with a stable outlook. The ratings agency assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) ... Read the full article
Michel White joins Prismic Life Re as CEO, Bermuda
25th November 2025
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 ... Read the full article
Prudential backed Prismic Life raises $1.3bn to expand its reinsurance platform
18th November 2025
Prismic Life Holding Company, LP (Prismic) has raised $1.3 billion in its third successful capital raise, sponsored by Prudential Financial, Inc. (PFI) and Warburg Pincus, and supported by participation of a global consortium of investors, providing the firm with additional capacity to grow its reinsurance platform. Prismic is a Bermuda-exempted limited ... Read the full article
Prudential Financial to reinsure $7bn Japanese Whole Life Block with Prismic
23rd January 2025
Prudential Financial, Inc. has signed an agreement to reinsure a portion of its recently originated Japanese whole life policies with a subsidiary of Bermuda-based life and annuity reinsurance company Prismic Life. Under the terms of the agreement, Prismic, sponsored by Prudential and Warburg Pincus and supported by a group of global ... Read the full article
Nomura announces equity investment in Prismic Life Re
11th September 2023
Nomura has announced it has made an equity investment into Prismic Life Reinsurance, a licensed Class E Bermuda-based life and annuity reinsurance platform, alongside Prudential Financial, Warburg Pincus and other investors. Combined, Prismic will have an initial equity investment of approximately $1 billion. 65% of the equity is owned by ... Read the full article
Prudential Financial and Warburg Pincus launch Prismic Life Re
8th September 2023
Prudential Financial, Inc. and Warburg Pincus have announced the launch of Prismic Life Reinsurance, Ltd, a licensed Class E Bermuda-based life and annuity reinsurance company. A group of global investors, along with Prudential and Warburg Pincus, have agreed to make an initial equity investment in the reinsurer of $1 billion. The two ... Read the full article
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