Brighthouse Financial Earnings Call Transcripts
Fiscal Year 2026
-
The meeting covered board and executive introductions, three shareholder proposals, and a Q&A session. All proposals, including director elections, auditor ratification, and Say-on-Pay, passed as recommended. Voting results will be filed with the SEC.
-
Stockholders approved the merger with Aquarian Holdings, executive compensation related to the merger, and the potential adjournment of the meeting, though adjournment was not needed. All proposals passed as recommended by the board.
Fiscal Year 2025
-
Q2 saw strong annuity and life sales, robust capital and liquidity, and continued execution on capital-focused initiatives. Adjusted earnings declined year-over-year due to lower investment income and higher claim severity, but the RBC ratio remained within target.
-
Solid Q1 2025 results featured strong annuity and life sales, robust liquidity, and continued capital-focused initiatives. Adjusted earnings were $245M (excluding a notable item), with the RBC ratio within target. Strategic hedging simplification and active share repurchases continued.
Fiscal Year 2024
-
Record Shield annuity and life insurance sales drove growth, while capital efficiency initiatives, including reinsurance and hedging changes, restored the RBC ratio to target levels. Expense discipline and robust liquidity supported continued shareholder returns and strategic flexibility.
-
Statutory capital and liquidity remain strong, with a pending reinsurance deal set to restore the RBC ratio to target levels. Record Shield annuity sales and disciplined expense management support continued growth, while strategic initiatives aim to reduce new business strain and simplify hedging.
-
Record Shield annuity sales and strong adjusted earnings were offset by a decline in the RBC ratio below target due to basis risk and capital strain from new business. Multiple initiatives, including reinsurance, are underway to restore capital efficiency and the RBC ratio by year-end.