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.
Reported by the Insurer–manager partnerships desk from Insurance Capital Daily own coverage: Chariot Re completes $1.6bn Japan retrocession, its fourth deal since launch. Published . Corrections