Brighthouse Financial Reports Strong 2024 Earnings Turnaround

Brighthouse Financial ( (BHF) ) has released its Q4 earnings. Here is a breakdown of the information Brighthouse Financial presented to its investors.

Brighthouse Financial, Inc. is a major player in the U.S. financial services sector, specializing in offering annuities and life insurance products designed to assist individuals in securing their financial future.

In its latest earnings report, Brighthouse Financial revealed a marked improvement in its financial performance for the fourth quarter and full year of 2024. The company reported significant gains, reversing a substantial loss from the previous year, and continued to focus on strategic initiatives to enhance capital efficiency.

Key metrics highlighted include a net income available to shareholders of $646 million for the fourth quarter, translating to $10.79 per diluted share, which stands in stark contrast to the $942 million loss recorded in the same period of the previous year. The company also achieved record annuity sales totaling $10 billion for the year, driven primarily by Shield Level Annuities, while life insurance sales hit a record $120 million, buoyed by the Brighthouse SmartCare product. Additionally, Brighthouse made strides in reducing outstanding shares through stock repurchases and maintained a robust risk-based capital ratio of approximately 400%.

Despite a decrease in annuity sales quarter-over-quarter, the company remained profitable, showcasing resilience with higher net investment income and strategic hedging of new business. Furthermore, corporate expenses saw a decline, contributing positively to the financial results.

Looking ahead, Brighthouse Financial remains focused on executing its capital-focused strategy and maintaining strong liquidity levels, positioning itself to navigate potential market fluctuations effectively.