In plants, four types of tetrapyrroles are synthesized: heme, siroheme, chlorophyll, and phytochromobilin, all of which are within the chloroplast. A key feature of these compounds is that the cyclic tetrapyrroles coordinate a central metal ion: Mg
2+
in chlorophyll, and Fe
2+
in heme and siroheme. In contrast, bilins are made by ring opening of heme and the concomitant loss of the metal ion. Demetallation of chlorophyll also occurs but during breakdown, and the products, which are the so‐called non‐fluorescent chlorophyll catabolites (NCCs), have no known biological function. Thus, metal insertion and removal is an important aspect of tetrapyrrole metabolism. In this review, we consider how these reactions are achieved and how they are regulated, because many act at key branch points in the tetrapyrrole biosynthetic pathway. The major focus is on the chelatases, which are the insertion enzymes, because recent genetic and structural studies have demonstrated that essentially two classes exist with different evolutionary origins. Class I chelatases include Mg‐chelatase, which is the first enzyme of the chlorophyll branch; it comprises three different subunits and requires adenosine triphosphate (ATP) for activity. In contrast, Class II chelatases are exemplified by the last enzyme of protoheme biosynthesis, ferrochelatase, which is a homodimer and requires no cofactor. This article will discuss the reactions catalysed by the two enzymes, the evolutionary origin of chelatases, and how their activity regulates the flux into either chlorophyll or heme synthesis within the chloroplast.