Chariot Re Closes US$700 Million Oversubscribed Capital Raise to Accelerate Platform Growth

Brings total funding since launch to over US$2 billion, expanding capacity for life and annuity reinsurance

HAMILTON, Bermuda — September 2, 2026 — Chariot Reinsurance, Ltd. (“Chariot Re”), an independent Bermuda-based Class E life and annuity reinsurer, today announced the closing of its oversubscribed third capital raise of approximately US$700 million in equity and debt financing. The additional capital will expand Chariot Re’s capacity to scale its life and annuity reinsurance platform and capitalize on a growing pipeline of diversified opportunities.

Chariot Re’s sponsors, MetLife and General Atlantic, participated in the financing, bringing together deep expertise in insurance, retirement, and global investment. The capital raise was supported by a group of leading institutional investors, including lead investor Chubb.

Since its July 2025 launch, Chariot Re has raised over US$2 billion in capital to support the reinsurance of approximately US$20 billion of liabilities, completed three reinsurance transactions, and delivered operating performance ahead of plan as it continues to execute against its five-year growth strategy.

“This capital raise reflects the strong business momentum Chariot Re has built in just over a year and the progress we are making against our long-term strategy,” said Cynthia Smith, Chief Executive Officer of Chariot Re. “The financing expands our capacity to scale the reinsurance platform while maintaining our focus on disciplined underwriting and policyholder protection.”

Michel Khalaf, President and Chief Executive Officer of MetLife, said: “Demand for life and retirement solutions continues to grow around the globe, and this capital raise expands Chariot Re’s ability to meet those needs as a premier global provider of innovative reinsurance solutions. For MetLife, our strategic partnership with Chariot Re supports our growth ambitions across retirement and asset management, two key priorities of our New Frontier strategy.”

“Chariot Re has established a strong foundation to become a leading life and annuity reinsurance platform, distinguished by its experienced leadership, disciplined approach, and differentiated investment model,” said Bill Ford, Chairman and Chief Executive Officer of General Atlantic. “At General Atlantic, we’re bringing four and a half decades of global investing experience and deep expertise across alternative strategies to help Chariot Re build on that foundation for the long term.”

MetLife Investment Management and General Atlantic serve as Chariot Re’s exclusive asset managers, providing access to complementary global investment capabilities across public fixed income, private credit, private real estate and private equity.

About Chariot Re

Chariot Reinsurance, Ltd. is an independent Bermuda-based Class E life and annuity reinsurance company. Co-sponsored by MetLife and General Atlantic, with backing from Chubb and other institutional investors, Chariot Re combines liability origination capabilities with the asset management expertise of MetLife Investment Management and General Atlantic. The company provides differentiated reinsurance solutions designed to deliver scale, specialization and long-term value. For more information, visit www.chariotre.com.

About General Atlantic

General Atlantic is a leading global investor. Established in 1980, the firm’s investment platform spans Growth Equity, Infrastructure, and Strategic Solutions. General Atlantic manages approximately $130 billion in assets under management across all strategies as of June 30, 2026. For more information, visit www.generalatlantic.com.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Asia, Latin America, Europe and the Middle East. For more information, visit www.metlife.com.

About Chubb

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb employs approximately 45,000 people worldwide. Additional information can be found at: http://www.chubb.com.

Contacts

Chariot Re

Media
Kristy Bell
[email protected]

Investors
Delcho Ivanov
[email protected]

MetLife

Media
Steve LaMarca
[email protected]

Investors
John Hall
[email protected]

General Atlantic
Mary Armstrong and Liz McBain
[email protected]

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding Chariot Re’s strategy, growth plans, capital deployment, transaction pipeline and future performance. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Chariot Re undertakes no obligation to update any forward-looking statement, except as required by applicable law.