Prudential Financial, Inc. (NYSE: PRU) and Warburg Pincus have announced the formation of Prismic Life Reinsurance, Ltd., a Class E Bermuda-based reinsurance company. The venture commences with an initial equity investment of $1 billion, with Prudential and Warburg Pincus owning 20% and 15% respectively. Prudential’s Reinsurance Plans with Prismic Life Reinsurance Prudential Financial aims to […]
Prudential Financial, Inc. has agreed to divest its full-service retirement business to Empower Retirement, a Denver-based retirement plan recordkeeping financial holding company, for $3.55 billion. The sale includes Prudential Financial’s full-service retirement plan recordkeeping and administration business. The divested business will be backed by a capital of $2.1 billion which comes from a mix of […]
Prudential acquisition of Assurance IQ : US financial services giant Prudential Financial has signed a deal worth $2.35 billion to acquire Assurance IQ, an online insurance startup based in Bellevue, Washington. Assurance IQ will be paid the amount upfront and will also be eligible to an additional earnout of up to $1.15 billion in the […]