Agam Capital Advises PFI in Its Formation and Launch of Prismic Life Reinsurance, Ltd.
07 Setembro 2023 - 5:42PM
Business Wire
Agam Capital (“Agam”), an analytics driven platform
strategically partnering with insurance companies to explore
opportunities to enhance their financial flexibility, is advising
Prudential Financial, Inc. (“PFI”), a US-based global financial
services leader and premier active global investment manager, in
the formation and launch of Prismic Life Reinsurance, Ltd.
(“Prismic”), a Bermuda-domiciled Class E life and annuity
reinsurer. This strategic engagement leveraged Agam’s unique pALM
analytical platform and differentiated capabilities to support PFI
in the development and establishment of a differentiated new
entrant to the vibrant and fast-growing market for life and
retirement reinsurance solutions in Bermuda.
Separately, Agam and Prismic have entered into a long-term
Management Services Agreement (“MSA”) whereby Agam will continue to
leverage its industry-leading asset and liability management and
enterprise risk management expertise to support Prismic and its
future growth.
Agam’s Co-Founders, Chak Raghunathan and Avi Katz, said, “The
launch of Prismic is a milestone event in the continued growth of
the Bermuda reinsurance market. We are thrilled to have been a key
part of PFI’s strategic process in the exploration, diligence and
launch of Prismic and are excited for our future engagement working
with Prismic CEO Amy Kessler and her team to continue to build
Prismic into one of the leading Bermuda-based reinsurance
platforms.”
Robert Falzon, vice chair of PFI, said: “Agam played a
critically important role in the creation of Prismic, providing
third-party integrated asset, liability, capital, and risk
analytical tools that greatly facilitated decision-making
throughout the process. We are excited that Agam will partner with
Prismic going forward to enable the platform to grow, and in
support of PFI’s vision to be a global leader in expanding access
to investing, insurance, and retirement security.”
About Agam Capital
Agam was founded in 2016 by Avi Katz and Chak Raghunathan with
the vision to create a cutting edge differentiated analytical
platform. The execution towards this vision continued with the
development of pALM, Agam’s proprietary asset and liability
management (ALM) system. Offering the only end-to-end enterprise
wide risk and capital analytic solution, Agam empowers strategic
decision makers towards their capital optimization goals. With a
fully embedded dynamic strategic asset allocation (SAA) and
enterprise risk management (ERM) infrastructure, pALM supports
Agam’s ability to offer one stop, turnkey insurance solutions.
Agam’s team of experts have a global reach with offices in the
USA, Canada, Bermuda and India. In addition, Agam ISAC Bermuda,
which offers a comprehensive suite of operational, management and
governance services to Bermuda based reinsurers, is fully licensed
as a Class E insurer by the Bermuda Monetary Authority (BMA).
About PFI
Prudential Financial, Inc. (NYSE:PRU), a US-based global
financial services leader and premier active global investment
manager with approximately $1.4 trillion in assets under management
as of June 30, 2023, has operations in the United States, Asia,
Europe and Latin America. PFI’s diverse and talented employees help
makes lives better and create financial opportunity for more people
by expanding access to investing, insurance, and retirement
security. PFI’s iconic Rock symbol has stood for strength,
stability, expertise, and innovation for nearly 150 years. For more
information, please visit news.prudential.com.
PFI Forward-Looking Statements
Certain of the statements included in this release, such as
those regarding the launch of Prismic, reinsurance transactions
involving Prismic, the provision of asset management services to
Prismic, the anticipated increase in PFI’s underwriting
capabilities, equity investments in Prismic by global investors and
other institutions, the leadership and operation of Prismic
following its launch, and the impact of Prismic on PFI’s business
and strategy, constitute forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. Words such as “expects,” “believes,” “anticipates,”
“includes,” “plans,” “assumes,” “estimates,” “projects,” “intends,”
“should,” “will,” “shall” or variations of such words are generally
part of forward-looking statements. PFI’s forward-looking
statements are made based on management’s current expectations and
beliefs concerning future developments and their potential effects
upon PFI and its subsidiaries. There can be no assurance that
future developments affecting PFI and its subsidiaries will be
those anticipated by management. These forward-looking statements
are not a guarantee of future performance and involve risks and
uncertainties, and there are certain important factors that could
cause actual results to differ, possibly materially, from
expectations or estimates reflected in such forward-looking
statements. Certain important factors that could cause actual
results to differ, possibly materially, from expectations or
estimates reflected in such forward-looking statements can be found
in the “Risk Factors” and “Forward-Looking Statements” sections
included in PFI’s Annual Report on Form 10-K. PFI does not
undertake to update any particular forward-looking statement
included in this document.
Prudential Financial, Inc. of the United States is not
affiliated in any manner with Prudential plc, headquartered in the
United Kingdom, or the Prudential Assurance Company, a subsidiary
of M&G plc, headquartered in the United Kingdom.
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version on businesswire.com: https://www.businesswire.com/news/home/20230905807367/en/
Chak Raghunathan | Co-Founder, Managing Partner Agam Capital
Management, LLC craghunathan@agamcapital.com
Laura Edling | Director, Financial Communications PFI
laura.edling@prudential.com
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