Chariot Re, an independent life and annuity reinsurer headquartered in Bermuda, has announced the completion of its second reinsurance transaction.
The agreement, with MetLife’s Nebraska affiliate MetTower Life Insurance Company, covers a significant portion 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 inception in July 2025, Chariot Re has raised more than $1 billion in equity, led by co-sponsors MetLife and General Atlantic, lead investor Chubb, and other third-party investors.
The company’s strong balance sheet facilitates an accelerated growth strategy, allowing it to significantly expand its reinsurance platform in 2026.
Cynthia Smith, CEO of Chariot Re, said: “This second transaction marks another important milestone in the execution of our growth strategy and highlights the close collaboration with our sponsors and investors.
“We expect additional transactions this year as we continue to build momentum and expand our capabilities to provide long-term, value-added reinsurance solutions.”
Chariot Re completed its first reinsurance transaction 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 sponsored by MetLife related to pension risk transfers.