Prismic Life completes oversubscribed capital raise with about US$1.9bn commitments
Prismic has now raised more than US$3.3bn in capital across all closes.
Prismic Life has closed its capital raise above target, at approximately US$1.9bn of commitments against an original US$1.6bn goal. The Bermuda-based reinsurer announced the completion today.
Including this close, Prismic said it has raised more than US$3.3bn in capital.
The capital supports the reinsurance of liabilities including Prudential Financial's US and Japanese liabilities as well as third-party business, and Prismic pointed to its recent Daiichi Life transaction as an example of the latter.
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