MetLife and General Atlantic form Chariot Re; MetLife to cede ~$10B in annuity reserves

METLIFE INC

MetLife and General Atlantic each take ~15% equity in new Bermuda reinsurer Chariot Re; initial combined equity >$1B; Chubb as anchor third-party investor.
MetLife to initially cede ~$10B in statutory reserves from structured settlements and pension risk transfer group annuities.
MetLife expects ~$1B increase in available capital; transaction targeted to close in H1 2025 subject to regulatory approvals.
Chariot Re CEO will be Cynthia Smith (30-year MetLife veteran); Board includes MetLife's Toby Srihiran Brown and GA's Graves Tompkins.
Asset management will be exclusively by MetLife Investment Management and General Atlantic.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.