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Prudential Financial and Prismic Life Agree to $7B Japanese Whole Life Reinsurance Deal
Jan 22, 2025•over 1 year ago
Contract Type
agreement
Description
Prudential Financial, Inc. has announced an agreement to reinsure a portion of its recently originated Japanese whole life policies with a subsidiary of Prismic Life (Prismic), a Bermuda-based life and annuity reinsurance company. The agreement involves Prismic reinsuring approximately $7 billion of reserves backing USD-denominated Japanese whole life insurance policies recently originated by Prudential’s Japanese affiliates.
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