Prismic Life Holding Company, LP ("Prismic") announced today an agreement with Prudential Financial, Inc. (NYSE: PRU) ("Prudential") to reinsure a portion of Prudential’s recently originated Japanese whole life policies.

Under the terms of the agreement, Prismic will reinsure approximately $5 billion of reserves backing USD-denominated Japanese whole life insurance policies originated by Prudential’s Japanese affiliates. Prudential’s obligations to these policyholders will remain unchanged following the reinsurance arrangement, and Prudential will continue to administer the contracts.

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