Strong Annuity and Life Insurance Sales
Brighthouse Financial reported total annuity sales of approximately $2.3 billion, with $2 billion from Shield sales, which increased 3% sequentially and 5% compared with the first quarter of 2024. Life insurance sales grew by 24% compared with Q1 2024.
Holding Company Liquid Assets and RBC Ratio
The company ended the quarter with holding company liquid assets of approximately $1 billion and an estimated RBC ratio between 420% and 440%, within their target range of 400% to 450%.
Progress in Hedging Strategy
Brighthouse Financial fully transitioned to hedging new Shield annuity business on a standalone basis, simplifying their hedging strategy and improving capital efficiency.
Capital Return to Shareholders
The company repurchased $59 million of common stock in the quarter, with an additional $26 million repurchased through May 6th.
Statutory Earnings and Capital Strength
Normalized statutory earnings for the quarter were approximately $300 million, benefiting from a 25 basis point increase in the prescribed 20-year treasury yield mean reversion point.