Press Release

Prismic Life announces close of US$1.3B capital raise

HAMILTON, BERMUDA, Nov. 18, 2025 – Prismic Life Holding Company, LP (Prismic) today announced the successful completion of its third capital raise of US$1.3 billion. Prismic is sponsored by Prudential Financial, Inc. (NYSE: PRU) (PFI) and Warburg Pincus, global leaders in insurance and investment management. Prismic has been supported by a global consortium of world-class investors who participated in the capital raise. The capital will provide additional capacity for Prismic to grow its reinsurance platform.

Prismic is a Bermuda-exempted limited partnership and the holding company of Prismic Life Reinsurance, Ltd. and Prismic Life Reinsurance International, Ltd., each a licensed Class E Bermuda-based life and annuity reinsurance company. Prismic has previously raised over US$1.5 billion in capital to support the reinsurance of approximately US$17 billion of PFI’s U.S. and Japanese liabilities.

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“We expect reinsurance will play an increasingly critical role in the global life insurance and annuity markets, as insurers respond to changing demographics and seek to optimize capital, risk and long-duration liabilities. Prismic is uniquely positioned to address these needs, and we look forward to its continued growth in partnership with Warburg Pincus and other Prismic investors.”

Andy Sullivan, CEO, Prudential Financial

<p>“We expect reinsurance will play an increasingly critical role in the global life insurance and annuity markets, as insurers respond to changing demographics and seek to optimize capital, risk and long-duration liabilities. Prismic is uniquely positioned to address these needs, and we look forward to its continued growth in partnership with Warburg Pincus and other Prismic investors.”</p>

Prismic will continue to leverage global investment management capabilities from PGIM, the US$1.5 trillion* global investment management business of PFI, and Warburg Pincus across public and private markets. The capital raise is expected to result in Prismic allocating roughly US$15 billion to public, private and alternative credit assets managed by PGIM and private equity assets managed by Warburg Pincus.

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