MetLife completes $10bn variable annuity risk transfer deal with Talcott

MetLife has concluded a $10bn adaptable annuity hazard transportation transaction with Talcott Resolution Life Insurance Company, an annuities and beingness security subsidiary of Talcott Financial Group.

This transaction, initially announced successful April this year, sees Talcott reinsure astir $10bn successful adaptable annuity and rider reserves.

The woody aims to little MetLife’s portfolio hazard portion leaving argumentation medication and servicing with MetLife.

The reinsurance operation is based connected modified coinsurance and funds withheld arrangements.

MetLife anticipates giving up yearly adjusted net of astir $100m owed to this transaction, offset to immoderate grade by expected yearly hedge outgo savings of astir $45m.

This measurement supports MetLife’s purpose to trim vulnerability successful its bequest business.

It besides reflects the company’s process of executing hazard transportation strategies wrong MetLife Holdings, which contains closed-block operations from the erstwhile US Retail segment.

MetLife volition stay liable for the medication and servicing of the policies.

MetLife Investment Management volition oversee astir $6bn successful assets nether concern absorption agreements with Talcott.

This transaction brings the full magnitude of reserves reinsured by Talcott successful 2025 to $14bn.

Earlier this year, Chariot Reinsurance (Chariot Re) was established arsenic a Bermuda-based Class E beingness and annuity reinsurance signifier successful concern with MetLife and General Atlantic.

Chariot Re assumed reinsurance responsibilities for liabilities totalling astir $10bn from a MetLife subsidiary arsenic its archetypal transaction.

The artifact taken connected by Chariot Re includes structured colony annuity contracts and radical annuity contracts linked to pension hazard transfers that were primitively issued by MetLife.

In September this year, MetLife named Adrienne O’Neill arsenic its caller enforcement vice-president and main accounting officer.

O’Neill is tasked with managing the company’s accounting functions, which see firm accounting, fiscal reporting, and fiscal readying and analysis.

"MetLife completes $10bn adaptable annuity hazard transportation woody with Talcott " was primitively created and published by Life Insurance International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.