Chariot Re Raises $700M for Expansion of Reinsurance Platform
Bermuda-based life and annuity reinsurer Chariot Re has raised an oversubscribed $700 million in equity and debt to expand its underwriting capacity. This marks the company’s third capital raise since launching in July 2025, bringing total funding to over $2 billion. The new funds will support growth in reinsurance transactions and help Chariot Re scale its platform while maintaining disciplined underwriting practices. The financing was led by institutional investors including Chubb, with participation from sponsors MetLife and General Atlantic. Since inception, the company has reinsured around $20 billion in liabilities across three major deals. CEO Cynthia Smith highlighted strong business momentum and progress toward a five-year growth strategy aimed at becoming a leading reinsurance provider. MetLife’s Michel Khalaf emphasized that Chariot Re supports MetLife's New Frontier strategy by addressing rising global demand for retirement solutions, while General Atlantic’s Bill Ford praised the company’s foundation in underwriting discipline and investment management.
