Prismic Life Holding Company LP announced Tuesday that it has closed its third major capital raise, pulling in $1.3 billion from investors—a financial jolt aimed at accelerating the company’s rapidly expanding reinsurance platform. The raise was guided by Willkie Farr & Gallagher LLP and Appleby (Bermuda) Ltd.
A Growing Reinsurance Powerhouse
Prismic Life Holding Company LP oversees Bermuda-based reinsurers Prismic Life Reinsurance Ltd. and Prismic Life Reinsurance International Ltd., forming a platform designed to provide sophisticated risk and balance-sheet solutions for global insurance clients.
The company, backed by Prudential Financial and private-equity titan Warburg Pincus, said the fresh capital marks another strategic step in scaling its multi-year business plan.
“Fuel for the Next Phase of Growth”
“Prismic provides investors with exposure to diversified life insurance and annuity liabilities,” CEO and group chair Nandini Mongia said. She added that the new capital injection will propel expansion, strengthen reinsurance offerings, and broaden access to Prudential’s market-leading life and annuity products—all while supporting global retirement-income growth.
As part of the capital deployment, Prismic expects to allocate approximately $15 billion across public, private, and alternative credit assets managed by PGIM, Prudential’s investment management arm, as well as private equity assets managed by Warburg Pincus.
