UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 7.01 Regulation FD Disclosure
On December 11, 2024, MetLife, Inc. (“MetLife”) and General Atlantic issued a news release announcing the anticipated launch of Chariot Reinsurance, Ltd. (“Chariot Re”), a third-party offshore reinsurance company, which would utilize both MetLife Investment Management, LLC and General Atlantic as asset managers. MetLife and General Atlantic would each make a minority equity investment in Chariot Re. MetLife has received conditional approval to register the reinsurance company in Bermuda from the Bermuda Monetary Authority. MetLife is targeting initially ceding approximately $10 billion of statutory reserves of structured settlement and group annuity contracts associated with pension risk transfers to Chariot Re, which is subject to adjustment based on the final amount of initial equity raised to support Chariot Re. MetLife anticipates Chariot Re would launch in the first half of 2025, subject to regulatory approvals and other closing conditions. MetLife expects this transaction could initially result in an increase in available capital of approximately $1 billion. Additional information about this transaction can be found in the news release furnished as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
99.1 | MetLife, Inc. news release dated December 11, 2024, announcing the formation of Chariot Reinsurance, Ltd. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
METLIFE, INC. | ||||
By: | /s/ Timothy J. Ring | |||
Name: | Timothy J. Ring | |||
Title: | Senior Vice President and Secretary |
Date: December 11, 2024