Prudential Financial Signs $5 Billion Reinsurance Deal With Prismic Life

MT newswire2026/10/05 13:24

09:24 AM EDT, 10/05/2026 (MT Newswires) -- Prudential Financial (PRU) has signed an agreement with Prismic Life to reinsure part of Prudential's recently originated Japanese whole life insurance policies, Prismic Life said Monday. Prismic said it will reinsure about $5 billion of reserves backing US dollar-denominated whole life policies originated by Prudential's Japanese affiliates, while Prudential will keep administering the contracts. The deal builds on the relationship between Prudential and Prismic, which includes in-force and new business flow deals covering over $22 billion of US dollar-denominated liabilities, Prismic said.

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