Chariot Reinsurance has closed an oversubscribed third capital raise of approximately $700 mn in equity and debt financing. The Bermuda-based Class E life and annuity reinsurer said the additional funding will increase its capacity for new reinsurance transactions.
MetLife and General Atlantic, which co-sponsor Chariot Re, participated in the financing. The round also included institutional investors led by Chubb.
Chariot Re launched in July 2025 and has since raised more than $2 bn in capital. The company said those funds support the reinsurance of approximately $20 bn of liabilities.
The reinsurer has completed three transactions since launch. Chariot Re also said operating performance has exceeded its internal plan as it continues its five-year growth strategy.
This capital raise reflects the strong business momentum Chariot Re has built in just over a year. The financing increases capacity while the company maintains its underwriting and policyholder protection standards.
Cynthia Smith, Chief Executive Officer of Chariot Re
MetLife President and CEO Michel Khalaf said the financing reflects investor support for the platform developed by MetLife, General Atlantic and Chariot Re’s management. He said additional capital will support growth in life and retirement reinsurance as demand for those products increases.
General Atlantic Chairman and CEO Bill Ford said Chariot Re has built its business around experienced management and a defined investment approach. General Atlantic is contributing its investment experience across alternative asset classes to the reinsurer.
MetLife Investment Management and General Atlantic serve as Chariot Re’s exclusive asset managers. Their mandates include public fixed income and private credit, along with private real estate and private equity.
Chariot Re operates as an independent Bermuda-based Class E life and annuity reinsurer. Its ownership and financing structure includes backing from MetLife, General Atlantic, Chubb and other institutional investors.
