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Chariot Reinsurance, Ltd., the Bermuda-based Class E life and annuity reinsurer co-sponsored by MetLife and General Atlantic, has successfully completed its fourth reinsurance transaction since its launch in July 2025, and its first covering Japanese liabilities.
Effective 30 September 2026, Chariot Re entered into a retrocession agreement with MetLife Reinsurance Company of Hamilton Ltd., a Bermuda-based MetLife affiliate.
The transaction covers approximately $1.6 billion in account value associated with a portfolio of Japanese US dollar-denominated whole life and annuity policies reinsured by MetLife Reinsurance Company of Hamilton Ltd.
Chariot Re said the transaction advances its strategy of providing long-term reinsurance solutions to leading insurers, supported by strong capital and risk management, while expanding its diversified liability portfolio across global life and retirement markets.
John McCallion, Chief Financial Officer and Head of MetLife Investment Management, said, “Chariot Re’s fourth transaction, and the first to include liabilities tied to Japan, is clear evidence of this platform scaling with momentum. Third-party capital remains an important lever for us as we continue to grow our retirement and asset management businesses under our New Frontier strategy.”
Cynthia Smith, Chief Executive Officer of Chariot Re, added, “This transaction advances our growth strategy and expands our portfolio to include liabilities from one of the world’s largest and most sophisticated life insurance markets.
“We are pleased to continue partnering with MetLife and building a diversified portfolio supported by disciplined risk management and long-term value creation. Our fourth treaty since launch demonstrates our platform’s strength, momentum, and ability to execute across products, markets, and jurisdictions.”
The transaction follows Chariot Re’s recent closing of an oversubscribed third capital raise of approximately $700 million in equity and debt financing in September 2026.
The post Chariot Re completes first reinsurance transaction covering Japanese liabilities appeared first on ReinsuranceNe.ws.
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