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Dec 31, 2020
Equitable Holdings Q4 2020 Earnings Report
Equitable Holdings reported strong Q4 2020 results with record assets under management, benefiting from resilient businesses and dedicated employees and advisors.
Key Takeaways
Equitable Holdings reported a net loss of $1,238 million for Q4 2020, compared to a net loss of $946 million in Q4 2019. However, non-GAAP operating earnings improved to $748 million from $653 million in the same quarter of the previous year. Assets under management reached a record $809 billion.
Assets under management reached a record $809 billion, a 10% year-over-year increase.
Returned $1.1 billion to shareholders for 2020, including $175 million in Q4 2020.
Completed the execution of all targets set at IPO, including $75 million pre-tax productivity gains net of reinvestment and $160 million annualized net investment income.
Variable annuity reinsurance transaction remains on track to close in the second quarter of 2021.
Equitable Holdings
Equitable Holdings
Equitable Holdings Revenue by Segment
Revenue by Segment
Individual Retirement Revenue
CapyFin.comGroup Retirement Revenue
CapyFin.comProtection Solutions Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
Equitable Holdings is focused on strategic initiatives, including capital-light business growth and the closing of the VA reinsurance transaction, expected in Q2 2021.
Positive Outlook
- Focus on capital-light business growth
- VA reinsurance transaction on track to close in Q2 2021
- Strong demand for Structured Capital Strategies (SCS) buffered annuity product
- Continued focus on providing economically sound and in-demand solutions for clients
- New $1 billion share repurchase program authorized for 2021
Challenges Ahead
- Ongoing economic uncertainty due to the COVID-19 pandemic
- Potential impacts from market volatility
- Unfavorable mortality experience
- PFBL reserve accrual
- Shift to less interest-sensitive life insurance accumulation products
Revenue & Expenses
Visualization of income flow from segment revenue to net income