Chariot Re, an independent Bermuda-based life and annuity reinsurance company, has announced the completion of its second reinsurance transaction, further advancing its growth strategy following its launch in 2025.
The agreement was signed with Metropolitan Tower Life Insurance Company, a Nebraska-based affiliate of MetLife, and covers a significant block of whole life insurance liabilities. Under the terms of the transaction, MetLife’s commitment to its policyholders remains unchanged, with the company continuing to manage all customer-facing and policy administration responsibilities.
Since its launch in July 2025, Chariot Re has raised more than $1 billion in equity capital. The funding was led by co-sponsors MetLife and General Atlantic, with Chubb serving as lead investor, alongside additional third-party investors. The capital base supports the company’s ability to pursue an accelerated growth strategy.
Chariot Re’s robust balance sheet positions the company to significantly scale its reinsurance platform throughout 2026, as it continues to build long-term partnerships and expand its presence in the life and annuity reinsurance market.
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.”
The latest transaction follows Chariot Re’s first reinsurance deal completed in July 2025 with a MetLife subsidiary. In that initial transaction, 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.
