Chariot Re completes $1.6bn Japan retrocession with MetLife Reinsurance Company of Hamilton
The agreement took effect September 30 and covers Japanese whole life and annuity policies denominated in US dollars.
At a glance
Chariot Re, a Bermudian life reinsurer, has completed a $1.6 billion retrocession with MetLife Reinsurance Company of Hamilton, its fourth transaction since launch.
The block is Japanese whole life and annuity policies denominated in US dollars, rather than property catastrophe risk.
Chariot Re, a Bermudian life reinsurer, has completed a $1.6 billion retrocession with MetLife Reinsurance Company of Hamilton, its fourth transaction since launch. The agreement took effect September 30.
The block is Japanese whole life and annuity policies denominated in US dollars, rather than property catastrophe risk. Retrocession is the reinsurance of reinsurers, so MetLife Reinsurance Company of Hamilton is passing along risk it had already assumed rather than ceding a book it originated directly with policyholders.
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