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- Prismic Life Reinsurance
Prismic Life Reinsurance Valuation, Funding & Investors
Prismic Life Reinsurance is valued at $2.9B as of September 2023.
Last Prismic Life Reinsurance valuation
$2.9B
Undisclosed stage · Sep 2023
Last Prismic Life Reinsurance funding round
$600M
Undisclosed stage · May 2026
Cumulative funding Prismic Life Reinsurance raised
$2.9B
across 3 funding rounds
Key investors in Prismic Life Reinsurance
Warburg Pincus
Prudential
Prismic Life Reinsurance Overview
About Prismic Life Reinsurance
Prismic Life Reinsurance is a Bermuda-based life and annuity reinsurance company offering investment, insurance, and retirement security products. It provides reinsurance solutions to primary insurers focusing on fixed annuities and life policies. The firm operates from Hamilton, Bermuda, supporting carriers in managing longevity and mortality risks.
Founded
2023
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$2.9B (Sep 2023)
Prismic Life Reinsurance Valuation
Prismic Life Reinsurance is currently valued at $2.9B, based on its undisclosed-stage round in September 2023.
The $1B round was led by Prudential and Warburg Pincus.
Prismic Life Reinsurance valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2023 | Undisclosed stage | $2.9B |
Prismic Life Reinsurance Funding History
Prismic Life Reinsurance has raised a total of $2.9B across 3 funding rounds.
Prismic Life Reinsurance's first fundraising round was a $1B undisclosed-stage round in September 2023. The most recent completed round was a $600M undisclosed-stage round in May 2026.
Prismic Life Reinsurance funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2026 | Undisclosed stage | Prudential (lead); Warburg Pincus (lead) | $600M | - | Prismic Life Holding Company, LP announced in May 2026 that it completed an oversubscribed capital raise of approximately US$1.9 billion, exceeding its original US$1.6 billion target. The raise was supported by Prudential Financial and Warburg Pincus as sponsors, alongside a consortium of investors, and is intended to provide additional capacity for Prismic’s reinsurance platform and to support new business growth. Prismic is a Bermuda-exempted limited partnership and the holding company of Prismic Life Reinsurance, Ltd. and Prismic Life Reinsurance International, Ltd., both Class E Bermuda-based life and annuity reinsurance companies. The company’s earlier launch in 2023 combined a US$10 billion initial reinsurance transaction with a US$1 billion equity capital investment, with Prudential and Warburg Pincus initially owning 20% and 15% of Prismic’s equity, respectively. By November 2025, Prismic had completed its third capital raise of US$1.3 billion and had previously raised over US$1.5 billion in capital to support the reinsurance of approximately US$17 billion of Prudential Financial’s U.S. and Japanese liabilities. The platform is structured to allocate assets to public, private, and alternative credit managed by PGIM and private equity assets managed by Warburg Pincus. |
| Nov 2025 | Undisclosed stage | Prudential (lead); Warburg Pincus (lead) | $1.3B | - | Prismic Life Holding Company, LP, the holding company for Bermuda-based Class E life and annuity reinsurers Prismic Life Reinsurance, Ltd. and Prismic Life Reinsurance International, Ltd., closed its third capital raise of $1.3 billion on November 18, 2025. Sponsored by Prudential Financial and Warburg Pincus, the round included a global consortium of investors and provides capacity to grow its reinsurance platform, reinsuring Prudential Financial's U.S. and Japanese liabilities. Prior to this raise, Prismic had secured over $1.5 billion in capital to support reinsurance of approximately $17 billion in liabilities. The new capital is expected to be allocated to roughly $15 billion in public, private, and alternative credit assets managed by PGIM (Prudential's investment arm) and private equity assets by Warburg Pincus. Prismic aims to deliver reinsurance solutions for insurers' capital, risk, and balance sheet needs, leveraging investment capabilities from PGIM and Warburg Pincus to expand in global life insurance and annuity markets. |
| Sep 2023 | Undisclosed stage | Prudential (lead); Warburg Pincus (lead) | $1B | $2.9B | Prismic Life Reinsurance, Ltd., a Bermuda-based life and annuity reinsurer sponsored by Prudential Financial and Warburg Pincus, launched on September 7, 2023, with $1 billion in initial equity capital from Prudential (20% stake), Warburg Pincus (15% stake), and other investors including Nomura. Prudential reinsured approximately $10 billion in structured settlement annuity reserves to Prismic, subject to regulatory approvals, enabling Prudential to optimize capital while maintaining administration of the contracts. PGIM and Warburg Pincus provide asset management services. The platform aims to scale reinsurance for life insurance and annuities, addressing long-duration liabilities amid demographic shifts. |
Who has invested in Prismic Life Reinsurance?
2 investors have backed Prismic Life Reinsurance across its funding rounds, including Warburg Pincus and Prudential.
Lead investors include Prudential and Warburg Pincus.
Prismic Life Reinsurance Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialPrismic Life Reinsurance Competitors
Prismic Life Reinsurance competitors include listed companies like SiriusPoint, Al Rajhi Takaful, Santam and Coface, and private ones like Nassau Financial Group and Grab Financial Group.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $3.2B | $632M | $2.8B | 0.9x | ||
| Publicly listed | $1.2B | $132M | $2.9B | - | ||
| Publicly listed | $2.7B | $532M | $2.7B | 1.2x | ||
| Publicly listed | $1.9B | $422M | $2.7B | 2.3x | ||
| Private | - | - | $1.7B | - | ||
| Private | - | - | $3B | - |
Prismic Life Reinsurance Public Comps
Prismic Life Reinsurance is still privately-owned, but its public comps include Hyundai Fire & Marine, Brighthouse Financial, SiriusPoint, Al Rajhi Takaful, Santam, Coface, Vaudoise Assurances, Momentum Group, F&G Annuities & Life and BSP Financial Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $11B | $1.2B | 0.3x | 0.4x | 3.1x | - | |||
| $6.4B | $626M | 0.9x | 0.7x | 9.2x | - | |||
| $3.2B | $632M | 0.9x | 0.9x | 4.6x | - | |||
| $1.2B | $132M | 2.3x | - | 21.2x | - | |||
| $2.7B | $532M | 1.0x | 1.2x | 5.3x | 6.7x | |||
| $1.9B | $422M | 2.4x | 2.3x | 10.9x | - | |||
| $2.1B | $246M | 1.0x | - | 8.2x | - | |||
| $9.2B | $902M | 0.1x | 1.1x | 1.2x | 1.1x | |||
This data is available for Pro users. Sign up to see all Prismic Life Reinsurance competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Prismic Life Reinsurance
| When was Prismic Life Reinsurance founded? | Prismic Life Reinsurance was founded in 2023. |
| Where is Prismic Life Reinsurance headquartered? | Prismic Life Reinsurance is headquartered in Bermuda. |
| Is Prismic Life Reinsurance publicly listed? | No, Prismic Life Reinsurance is a private, VC-backed company. |
| What is Prismic Life Reinsurance's valuation? | Prismic Life Reinsurance was last valued at $2.9B in its undisclosed-stage round in September 2023. |
| How much funding has Prismic Life Reinsurance raised? | Prismic Life Reinsurance has raised $2.9B across 3 funding rounds. |
| What was Prismic Life Reinsurance's last funding round? | Prismic Life Reinsurance's last funding round was a $600M undisclosed-stage round in May 2026, led by Prudential and Warburg Pincus. |
| Who are Prismic Life Reinsurance's investors? | Prismic Life Reinsurance's investors include Prudential and Warburg Pincus. |
| Which companies are comparable to Prismic Life Reinsurance? | Companies comparable to Prismic Life Reinsurance include SiriusPoint, Al Rajhi Takaful, Santam, Coface, Nassau Financial Group and Grab Financial Group. |
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