Brighthouse Financial Q2 adjusted EPS misses estimates as investment income falls
BHF•Outlook
- Brighthouse Financial expects merger with Aquarian Capital to close in 2026, pending regulatory approvals
- Company estimates combined RBC ratio between 430% and 450%, at upper end of target range
- Brighthouse Financial holding company liquid assets total $0.9 bln
Overview
- U.S. annuities and life insurer's Q2 adjusted EPS and adjusted net income missed analyst expectations
- Q2 net income rose sharply yr/yr, driven by market-related factors
- Record Shield Level Annuities sales supported Q2 annuity sales
Result Drivers
- SHIELD LEVEL ANNUITIES - Record sales of Shield Level Annuities drove sequential growth in annuity sales
- NET INVESTMENT INCOME - Higher net investment income supported annuities segment adjusted earnings, though overall adjusted net investment income declined due to lower alternative investment income
- UNDERWRITING MARGIN - Improved underwriting margin reduced losses in the Life and Run-off segments
Key details and analyst coverage
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