MetLife : Everything you need to know

MetLife Reinsurance provides life and annuity reinsurance solutions through MetLife’s Bermuda and US entities. Its work includes pension risk transfers, longevity reinsurance, and large block transactions.

History of MetLife Reinsurance

MetLife began reinsurance operations through its core life subsidiaries before formalizing a global reinsurer in Bermuda. It expanded its reach with major pension and longevity reinsurance deals from 2020 onward.

In 2023, it launched a dedicated Bermuda reinsurer to scale these solutions globally. More key milestones in MetLife’s reinsurance journey include:

• 1868: Metropolitan Life Insurance Company (MLIC) is founded in New York City
• 2014: MetLife buys General American Life and renames it Metropolitan Tower Life
• 2020: Met Tower finalizes first UK reinsurance deal with Pension Insurance Corp. and reinsures $5 billion in pension risk with Rothesay Life
• 2021: Met Tower completes $2 billion reinsurance deal with Legal & General. Phoenix and Zurich also close UK reinsurance swaps with MetLife
• 2022: MetLife and Zurich complete £2.58 billion reinsurance deal in the UK
• 2023: MetLife launches MetLife Reinsurance Company of Hamilton in Bermuda. The Bermuda entity earns $209 million in total revenue in first year
• 2024: MetLife forms Chariot Re with General Atlantic and Chubb as partners

The launch of Chariot Re in 2024 shows MetLife Reinsurance’s growing focus on global reinsurance. It plans to reinsure $10 billion in annuity and settlement risk through this platform.

Reinsurance products and services

MetLife Reinsurance focuses on large-scale reinsurance solutions tied to life and annuity risks for institutions. Its offerings support pension schemes, insurers, and structured annuity portfolios through the following services:

• pension risk transfer reinsurance: reinsures pension payments to reduce longevity risk for plan sponsors
• longevity reinsurance: covers the risk of people living longer than expected
• structured settlement reinsurance: assumes liability for future annuity payments in legal or injury settlements
• block reinsurance transfers: manages large books of life or annuity business to lower capital strain
• Chariot Re platform: new Bermuda-based reinsurer for life and annuity risk launching in 2025

These services support reinsurance clients through offshore and US platforms tailored to long-term financial risk. MetLife Reinsurance Company of Hamilton, Met Tower, and MLIC each deliver part of this global strategy.

Culture and core values

MetLife Reinsurance promotes a culture shaped by empathy and a deep commitment to well-being. This guiding mindset influences how teams work and how the company supports those it serves.

The company places strong value on diverse teams and puts customer satisfaction at the center of its work. Their values are:

• being the best: teams seek better ways through constant learning and improvement
• putting customers first: caring and respect stay central in every customer relationship
• making it simple: clear communication helps connect complex products to customer needs
• succeeding together: integrity and inclusion drive honest teamwork across the business

These values show who the company is and what it stands for. For over 150 years, MetLife has kept its word to customers.

Diversity, equity and inclusion

MetLife Reinsurance is building a culture where all people feel valued, protected, and included. It supports fair voices across teams:

• 2030 DEI goals: reporting progress on global equity targets
• leadership training: Leading the Future program promotes inclusive guidance
• Inclusion Begins with Me: global learning tools and podcast series launched
• INDEAVOR Experience: interactive tools for trust and inclusive behaviors
• MOMENTUM Networks: supporting diverse voices and shared inclusion goals

The company supports a culture that grows diverse talent. These efforts help it keep promises to people worldwide.

Sustainability approach

At MetLife Reinsurance, sustainability is tied to its purpose while building a more confident future. It works through people, services, and investments to deliver lasting value. The company aligns its goals with key United Nations Sustainable Development Goals.

The future at MetLife Reinsurance

MetLife and Talcott reached a major deal to reinsure $10 billion in annuity reserves. MetLife will keep policy servicing duties, while its asset arm will oversee $6 billion. A new reinsurer, Chariot Re, is also planned to expand MetLife’s future reach.

Other life insurers have noticed MetLife’s growing use of reinsurance in capital strategies. Its $10 billion annuity deal sparked comparisons from Brighthouse and Lincoln leaders. MetLife Reinsurance continues to reshape its balance sheet while aiming for long-term value and stable growth.