Insurance
Home›Insurance›Reinsurance›MetLife and General Atlantic-backed Chariot Re raises…
MetLife and General Atlantic-backed Chariot Re raises about $700m
The Bermuda reinsurer said the new capital will expand its life and annuity reinsurance capacity and is part of a plan launched in July 2025 that has already raised more than $2 billion.
Chariot Reinsurance, a Bermuda-based Class E life and annuity reinsurer co-sponsored by MetLife and General Atlantic, has closed an oversubscribed third capital raise of about $700 million in a mix of equity and debt financing, according to Reinsurance News.
The financing included participation from Chubb and other institutional investors, with both MetLife and General Atlantic acting as Chariot Re’s exclusive asset managers and participating in the deal.
Chariot Re said the new capital is intended to expand capacity to scale its life and annuity reinsurance platform and to capitalize on a growing pipeline of diversified opportunities. The company also reported that since its July 2025 launch, it has raised more than $2 billion in total capital to support the reinsurance of about $20 billion of liabilities.
Chariot Re added it has completed three reinsurance transactions and that its operating performance is ahead of plan as it executes its five-year growth strategy, citing comments from Chariot Re’s CEO and leaders at MetLife and General Atlantic.