A group of investor led a $1.3bn funding round in Prismic Life.

A group of investor, including Prudential Financial, a financial services company, and Warburg Pincus, a private equity firm, led a $1.3bn funding round in Prismic Life, a global reinsurance platform that provides risk and balance sheet management solutions to clients and offers the opportunity for investors to participate in reinsurance as an investment. "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, Prudential Financial CEO.