Prismic Life Announces $5 Billion Reinsurance Agreement with Prudential Financial
HAMILTON, Bermuda--(BUSINESS WIRE)--Prismic Life Holding Company, LP (“Prismic”) announced today an agreement with Prudential Financial, Inc. (NYSE: PRU) (“Prudential”) to reinsure a portion of Prudential’s recently originated Japanese whole life policies. Under the terms of the agreement, Prismic will reinsure approximately $5 billion of reserves backing USD-denominated Japanese whole life insurance policies originated by Prudential’s Japanese affiliates. Prudential’s obligations to these poli