Nomura leads $1bn investment into Prismic Life Reinsurance


Nomura has disclosed its equity investment in Prismic Life Reinsurance, a Bermuda-based life and annuity reinsurance platform.

The investment was made in conjunction with other renowned financial institutions, including Prudential Financial and Warburg Pincus.

Prismic Life Reinsurance is in the business of providing life and annuity reinsurance solutions. Licensed as a Class E reinsurance platform in Bermuda, the company aims to redefine the traditional landscape of reinsurance by leveraging cutting-edge technologies and innovative strategies.

Nomura’s investment will be channelled towards further capitalising Prismic Life Re. Nomura also served as the joint Lead Arranger and Bookrunner on a syndicated debt facility aimed at bolstering Prismic’s financial standing.

In terms of governance, the board of Prismic will comprise two independent directors, along with one director each nominated by Prudential Financial Inc. (PFI), Warburg Pincus, Nomura, and other investors. Representing Nomura on Prismic’s board will be Gordon Sweely, Global Head of Securitized Products and Private Credit.

Nomura Executive Officer and Head of Wholesale Division, Chris Willcox said, “We are excited to invest alongside two market leaders, Prudential Financial, Inc. and Warburg Pincus, in Prismic. Insurance is a growing client segment for Nomura globally and part of our ambitions to expand our platform more broadly.” Gordon Sweely added, “This investment is an opportunity for Nomura to invest in a reinsurance platform targeting a growing market space. We look forward to working in partnership with them as an investor and a capital markets partner to grow this platform.”

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