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An update from Metlife ( (MET) ) is now available.
MetLife, Inc. and General Atlantic announced the creation of Chariot Reinsurance, Ltd., an offshore reinsurance company set to launch in Bermuda in the first half of 2025. MetLife aims to initially cede approximately $10 billion in statutory reserves to Chariot Re, which will be managed by MetLife Investment Management and General Atlantic, boosting MetLife’s available capital by around $1 billion. This initiative aligns with MetLife’s strategy to expand its reinsurance capabilities and is expected to strengthen its market positioning while maintaining its commitment to existing policyholders.
More about Metlife
MetLife, Inc., founded in 1868, is a leading global financial services company offering insurance, annuities, employee benefits, and asset management to both individual and institutional clients. With operations in over 40 markets worldwide, MetLife holds significant market positions in the United States, Asia, Latin America, Europe, and the Middle East. Its institutional asset management business, MetLife Investment Management, manages a broad range of investment solutions with over $609 billion in assets under management as of September 2024.
YTD Price Performance: 27.46%
Average Trading Volume: 3,227,149
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $56.6B
See more insights into MET stock on TipRanks’ Stock Analysis page.
