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.
Latest Fintech Interview : Global Fintech Interview with Max Lillard, Senior Finance Analyst at Capterra (Gartner)
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.”
Read More About Fintech Interview: Global Fintech Interview with Scott Macfee, CEO of SpendHQ
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).
Browse The Complete Interview About Fintech : Global Fintech Interview with Olivier Thierry “OT”, CRO at HungerRush
[To share your insights with us, please write to sghosh@martechseries.com]
