Chariot Re, an independent Bermuda-based life and annuity reinsurance company, has announced the completion of its second reinsurance transaction.
The agreement, signed with Metropolitan Tower Life Insurance Company, a Nebraska-based affiliate of MetLife, covers a significant block of whole life insurance liabilities.
Under the terms of the transaction, MetLife’s commitment to its policyholders remains unchanged, and it will continue to retain responsibility for all customer-facing and policy administration functions.
Since its launch in July 2025, Chariot Re has raised more than $1 billion of equity capital, led by co-sponsors, MetLife and General Atlantic, and lead investor Chubb, as well as additional third-party investors.
The company’s robust balance sheet facilitates an accelerated growth strategy, enabling it to significantly scale its reinsurance platform throughout 2026.
Cynthia Smith, Chief Executive Officer of Chariot Re, said: “This second transaction marks another important milestone in the execution of our growth strategy and highlights the strong alignment with our sponsors and investors.
“We anticipate additional transactions this year, as we continue to build momentum and expand our ability to provide long-term, value-added reinsurance solutions.”
Chariot Re completed its first reinsurance deal back in July 2025 with a MetLife subsidiary. Chariot Re agreed to reinsure approximately $10 billion of liabilities, including structured settlement annuity contracts and group annuity contracts associated with pension risk transfers originated by MetLife.
