Prudential Financial to Reinsure $7B Japanese Whole Life Block with Prismic Life

Prudential Financial has announced a significant reinsurance agreement with Prismic Life to reinsure approximately $7 billion worth of Japanese whole life policies. This transaction, which follows an initial collaboration in 2023, will see Prismic's assets under management increase to $17 billion. Supported by a $100 million equity investment from Prudential and $400 million from other investors, the agreement underscores the growing scale and strategic importance of Prismic's reinsurance platform. Under the arrangement, Prudential will maintain its obligations to policyholders and continue contract administration, while PGIM Multi-Asset Solutions and Warburg Pincus will manage assets across diverse markets.