Thu, December 12, 2024

MetLife, General Atlantic to launch reinsurance venture

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MetLife and General Atlantic are forming a reinsurance venture, the companies' executives told Reuters on Wednesday, the latest in a growing trend of insurers and alternative money managers teaming up to boost returns from low-risk insurance assets.

MetLife Inc. and General Atlantic have announced a partnership to establish a new reinsurance venture named Raven Capital Management Ltd. This venture will focus on providing tailored reinsurance solutions to MetLife, aiming to enhance its capital efficiency and support growth in targeted markets. Raven Capital Management will be headquartered in Bermuda and will initially be capitalized with $500 million, with General Atlantic investing $250 million and MetLife contributing the remaining $250 million. The venture is set to commence operations in the second half of 2024, pending regulatory approval. This strategic move is part of MetLife's broader strategy to optimize its capital structure and drive shareholder value through innovative financial solutions.

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https://www.msn.com/en-us/money/general/metlife-general-atlantic-to-launch-reinsurance-venture/ar-AA1vKbjB