Who MetLife buys from and sells to
Life insurer selling group benefits to employers, pension buyouts and life/annuity policies in Japan and Asia.
Part of Government Net Interest Payments spending
Buys from 3
- Chariot Rereinsures ~$10bn of pension-buyout and settlement liabilities
- Talcott Resolutionreinsures ~$10bn of legacy variable annuities
- Reinsurance Group of AmericaRGAmortality reinsurance on life blocks
Sells to 3
- US employersgroup life, dental and disability benefits
- Corporate pension planspension risk transfer annuities
- Japanese householdsforeign-currency life and annuity policies
Where the chain could break
- Shifts legacy liabilities to sidecar reinsurers; their solvency becomes its exposure
- Large Japan book exposed to yen moves and Japanese rates
- Portfolio of commercial real estate loans backs policyholder liabilities
Competes with
- PrudentialPRUpension risk transfer and Japan life insurance
- Apollo (Athene)APOannuities and pension buyouts
- AflacAFLJapan and US supplemental benefits
Mapped by hand from filings and company reporting, as of October 2026. It shows the relationships that matter most, not every contract: most are never disclosed, and agreements change.