Brighthouse Financial Announces First Quarter 2025 Results
CHARLOTTE, N.C.–(BUSINESS WIRE)– Brighthouse Financial, Inc. announced its financial results for the first quarter ended March 31, 2025.
Key Highlights
- Estimated combined risk-based capital (“RBC”) ratio between 420% and 440%
- Holding company liquid assets of $1.0 billion
- Repurchased $85 million of its common stock year-to-date through May 6, 2025
- Annuity sales of $2.3 billion, including $2.0 billion in sales of Shield Level Annuities
- Life sales of $36 million, showing continued steady growth
- Net loss available to shareholders of $294 million, or $5.04 per diluted share
- Adjusted earnings, less notable items, of $245 million, or $4.17 per diluted share
Financial Results
The company reported a net loss available to shareholders of $294 million in the first quarter of 2025, compared to a net loss of $519 million in the first quarter of 2024. Adjusted earnings were $235 million, or $4.01 per diluted share, compared to an adjusted loss of $98 million, or $1.56 per diluted share, for the same period in 2024.
Segment Performance
- Annuities segment adjusted earnings were $314 million, up from $313 million in Q1 2024
- Life segment adjusted earnings were $9 million, compared to an adjusted loss of $36 million in Q1 2024
- Run-off segment adjusted loss was $64 million, improving from an adjusted loss of $341 million in Q1 2024
Capital and Liquidity
- Statutory combined total adjusted capital was $5.5 billion as of March 31, 2025
- Estimated combined RBC ratio was between 420% and 440%
- Holding company liquid assets were $1.0 billion
Outlook
The company anticipates volatility in net income due to differences between its hedge target and GAAP reserves, which are impacted by market performance.
“Brighthouse Financial’s estimated combined RBC ratio as of the end of the quarter was within our target range, and we maintained a robust level of holding company liquid assets,” said Eric Steigerwalt, president and CEO.
Conference Call
Brighthouse Financial will hold a conference call and audio webcast on May 9, 2025, at 8:00 a.m. Eastern Time to discuss its financial results.
