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Brighthouse Financial Q1 2025 Earnings Report
Brighthouse Financial reported a net loss in the first quarter of 2025, with adjusted earnings showing a positive result.
Key Takeaways
Brighthouse Financial, Inc. announced a net loss available to shareholders of $294 million, or $5.04 per diluted share, for the first quarter of 2025. However, adjusted earnings, less notable items, were $245 million, or $4.17 per diluted share. The company maintained a strong estimated combined risk-based capital ratio between 420% and 440% and holding company liquid assets of $1.0 billion.
Net loss available to shareholders was $294 million, or $5.04 per diluted share.
Adjusted earnings, less notable items, were $245 million, or $4.17 per diluted share.
Estimated combined risk-based capital ratio was between 420% and 440%, and holding company liquid assets were $1.0 billion.
Annuity sales reached $2.3 billion, with Shield Level Annuities contributing $2.0 billion.
Brighthouse Financial
Brighthouse Financial
Brighthouse Financial Revenue by Segment
Revenue by Segment
Premiums Revenue
CapyFin.comUniversal Life & Investment-Type Product Policy Fees Revenue
CapyFin.comNet Investment Income Revenue
CapyFin.comOther Revenues Revenue
CapyFin.com Forward Guidance
The company anticipates volatility in net income (loss) due to differences between its hedge target and GAAP reserves, which are impacted by market performance. No specific forward-looking financial guidance was provided beyond this general statement.
Positive Outlook
- Maintained a robust level of holding company liquid assets.
- Estimated combined RBC ratio within target range.
- Growing sales of flagship Shield Level Annuities Product Suite.
- Continued steady growth of the company's life insurance suite.
- Repurchased common stock, indicating confidence in valuation.
Challenges Ahead
- Anticipates volatility in net income (loss) due to hedge target and GAAP reserve differences.
- Annuity sales decreased 21% quarter-over-quarter, primarily driven by lower fixed annuities sales.
- Adjusted earnings for the quarter reflect a $10 million unfavorable notable item related to an actuarial model refinement.
- Corporate expenses increased quarter-over-quarter.
- Adjusted earnings in the Life segment reflect a lower underwriting margin and higher expenses sequentially.