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

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

BermudaBermuda

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

Prismic Life Reinsurance valuation by funding round
DateStageValuation
Sep 2023Undisclosed 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

Prismic Life Reinsurance funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2026Undisclosed stagePrudential (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 2025Undisclosed stagePrudential (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 2023Undisclosed stagePrudential (lead); Warburg Pincus (lead)$1B$2.9BPrismic 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

Investors in Prismic Life Reinsurance by funding rounds participated
InvestorHQRoundsRoleFirst check

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Prismic 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.

Public and private companies comparable to Prismic Life Reinsurance
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SiriusPointUnited StatesUnited StatesPublicly listed$3.2B$632M$2.8B0.9x
Al Rajhi TakafulSaudi ArabiaSaudi ArabiaPublicly listed$1.2B$132M$2.9B-
SantamSouth AfricaSouth AfricaPublicly listed$2.7B$532M$2.7B1.2x
CofaceFranceFrancePublicly listed$1.9B$422M$2.7B2.3x
Nassau Financial GroupUnited StatesHartford, CTPrivate--$1.7B-
Grab Financial GroupSingaporeSingaporePrivate--$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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Hyundai Fire & Marine$11B$1.2B0.3x0.4x3.1x-
Brighthouse Financial$6.4B$626M0.9x0.7x9.2x-
SiriusPoint$3.2B$632M0.9x0.9x4.6x-
Al Rajhi Takaful$1.2B$132M2.3x-21.2x-
Santam$2.7B$532M1.0x1.2x5.3x6.7x
Coface$1.9B$422M2.4x2.3x10.9x-
Vaudoise Assurances$2.1B$246M1.0x-8.2x-
Momentum Group$9.2B$902M0.1x1.1x1.2x1.1x

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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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