Prudential financial, inc. and warburg pincus announce launch of prismic life re

Newark, n.j.--(business wire)--prudential financial, inc. (nyse: pru) (prudential) and warburg pincus today announced the launch of prismic life reinsurance, ltd. (prismic), a licensed class e bermuda-based life and annuity reinsurance company. prudential and warburg pincus, together with a group of investors, have agreed to make equity investments in prismic and will oversee its long-term strategy through participation on its board of directors. prudential expects to reinsure to prismic a bloc.
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