by John Darer CLU ChFC MSSC CeFT RSP CLTC
MetLife, Inc., General Atlantic, and Chariot Reinsurance, Ltd. (Chariot Re), an independent Bermuda-based Class E life and annuity reinsurance company, announced on July 1, 2025 the completion of Chariot Re’s initial reinsurance transaction with a subsidiary of MetLife. Chariot Re will reinsure approximately $10 billion of liabilities, including structured settlement annuity contracts and group annuity contracts associated with pension risk transfers originated by MetLife.
MetLife’s said in its press release that its ongoing commitment to its policyholders will remain unchanged following the transaction and MetLife will continue to be responsible for all customer-related functions.
MetLife Entities Combined Have Had the Largest Market Share of Structured Settlement Annuity Premium for Several Years
MetLife, which issues structured settlement annuities through its two underwriting companies, Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company, has been the leading structured settlement annuity issuer in premium volume in recent years, by some distance. Metropolitan Life Insurance Company has been in business since 1868.
A certain settlement planner who notably singled out another annuity issuer’s reinsurer’s A.M. Best ratings on a comparison spreadsheet in a massive split funded structured settlement proposal could not be reached for comment.
Why Bermuda Reinsurance?
Why Bermuda? – Association of Bermuda Insurers and Reinsurers | ABIR
MetLife Did You Know?
The Metropolitan Life Building at One Madison Avenue in New York City was the tallest building in the world (1909-1913), and still stands as a reminder of the opulence of early twentieth century New York City.