Chariot Reinsurance, Ltd. has completed an initial reinsurance transaction with MetLife, assuming $10 billion in liabilities, supported by strategic partners including General Atlantic and Chubb.

Information on the Target

Chariot Reinsurance, Ltd. (Chariot Re) is an independent Class E life and annuity reinsurance company based in Bermuda. The company has been co-sponsored by MetLife, Inc. and General Atlantic, with additional support from lead investor Chubb and other financial entities. Chariot Re aims to address the growing demand for innovative life and annuity reinsurance solutions in a rapidly evolving market.

The initial reinsurance transaction, completed on July 1, 2025, involves Chariot Re assuming approximately $10 billion of liabilities. This includes structured settlement annuity contracts and group annuity contracts linked to pension risk transfers that were originally issued by MetLife. With a commitment to building a robust reinsurance platform, Chariot Re is uniquely positioned to leverage the combined strengths of its sponsors and a highly experienced leadership team.

Industry Overview in Bermuda

The reinsurance industry in Bermuda remains a pivotal player in the global insurance market, known for its favorable regulatory environment and expertise in risk management. As one of the world's leading reinsurance hubs, Bermuda hosts numerous reinsurance co