Chariot Re's Milestone: New Life and Annuity Reinsurance Partnership

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Jan 07, 2026

Reinsurance Industry Update

January 7, 2026 - Source: Kassandra Jimenez-Sanchez

Chariot Re, an independent reinsurance entity based in Bermuda, has successfully finalized its second transaction in the realm of life and annuity reinsurance. This pivotal agreement with Metropolitan Tower Life Insurance Company, a MetLife subsidiary, focuses on the reinsurance of significant whole life insurance liabilities. Such collaborations underscore the evolving dynamics in the insurance industry, emphasizing regulatory compliance requirements and offering innovative solutions.

The deal ensures that MetLife retains its commitment to policyholders, continuing oversight in customer interactions and policy management. Since launching in July 2025, Chariot Re has amassed over $1 billion in equity capital, driven by contributions from MetLife, General Atlantic, and principal investor Chubb, along with other key investors. This robust capital base positions Chariot Re to aggressively pursue growth initiatives and expand their reinsurance infrastructure throughout 2026.

Strategic Expansion and Growth

Cynthia Smith, CEO of Chariot Re, remarked, “This second transaction signifies a crucial milestone in our growth strategy, demonstrating strong alignment with our sponsors and investors. We foresee further transactions within the year, bolstering our momentum and enhancing our capacity to deliver comprehensive reinsurance solutions.” Chariot Re's initial deal, conducted in July 2025, involved reinsuring approximately $10 billion in liabilities tied to structured settlement annuity contracts and group annuity contracts linked to MetLife's pension risk transfers. These transactions reflect a sophisticated approach to underwriting and risk management within the industry.

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