Brighthouse Financial reports Q4 EPS $5.88, consensus $4.31

Reports Q4 revenue $2.27B, consensus $2.24B. “During the quarter, we continued to make progress on our capital-focused strategic initiatives, including completing a reinsurance transaction with a third party to reinsure a legacy block of universal life and variable universal life products and fully transitioning to hedging all new business for our Shield Level Annuities Product Suite on a standalone basis,” said Eric Steigerwalt, CEO. “Additionally, our estimated combined RBC ratio as of the end of the year was approximately 400%, reflecting a $100 million capital contribution from our holding company to Brighthouse Life Insurance Company, and we continue to have a robust level of holding company liquid assets. We also made further progress toward the execution of our focused strategy in 2024. Our corporate expenses were down 7% over 2023, we delivered record sales of our Shield Level Annuities Product Suite and Brighthouse SmartCare and we repurchased $250 million of our common stock during the year.”