PRU - Nomura Joins Prudential Warburg Pincus To Form Life And Annuity Reinsurance Firm | Benzinga
Tokyo-headquartered global financial services company Nomura (NYSE: NMR) announced its $1 billion equity investment in Bermuda-based Prismic Life Reinsurance. Prudential Financial (NYSE: PRU) and Warburg Pincus (OTC: WPCBF) are the other two entities that have invested in Prismic.
Nomura’s founding investor group accounts for a 65% stake in the equity, while Prudential Financial owns 20%, and Warburg Pincus controls the remaining 15%. The three have together launched the life and annuity reinsurance platform wherein the latter two will also support asset management services to ...