Jan 2025
Conyers advised MetLife, Inc. (“MetLife”) on the structuring, formation and launch of Chariot Reinsurance, Ltd. (“Chariot Re”) and its affiliated holding entities.
MetLife and General Atlantic partnered to form Chariot Re as a Bermuda based Class E life and annuity reinsurer.
The Conyers team, led by Jacqueline King advised on all aspects of Bermuda law and regulation relating to the structuring of Chariot Re, the over US$1 billion of capital raised, and with obtaining the licensing and transaction related approvals for Chariot Re to reinsure an initial US$10 billion block of MetLife liabilities comprising structured settlement annuity contracts and group annuity contracts associated with pension risk transfers.
Directors Jacqueline King and Robert Alexander and Senior Associate Kathleen McBeath advised on this matter.