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Jun 30, 2024
Brighthouse Financial Q2 2024 Earnings Report
Brighthouse Financial reported mixed results with strong sales in Shield Level Annuities, efficient expense management, and common stock repurchases, but statutory results led to an estimated combined RBC ratio at or modestly below the low end of the target range.
Key Takeaways
Brighthouse Financial's second quarter 2024 net income available to shareholders was $9 million, or $0.12 per diluted share. Adjusted earnings were $346 million, or $5.57 per diluted share. The company's annuity sales were flat, but Shield Level Annuity sales reached record levels. Life sales also saw a 19% increase. The estimated combined RBC ratio ended the quarter between 380% and 400%, with holding company liquid assets of $1.2 billion.
Estimated combined risk-based capital ("RBC") ratio between 380% and 400%; holding company liquid assets of $1.2 billion.
The company repurchased approximately $151 million of its common stock year-to-date through August 2, 2024.
Total annuity sales in the first half of 2024 were consistent with the same period in 2023.
Total life sales increased 19% in the first half of 2024 compared with the same period in 2023.
Revenue by Segment
Forward Guidance
Brighthouse Financial has specific initiatives underway designed to improve capital efficiency, unlock capital and return to their target RBC ratio range in the next six to 12 months.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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