Quarterly ResultMay 6, 2026, 04:28 PM
Brighthouse Financial Q1 Net Loss $792M; Adjusted EPS $4.35
AI Summary
Brighthouse Financial reported a net loss available to shareholders of $792 million, or $13.82 per diluted share, for the first quarter of 2026, a wider loss compared to the prior year. However, adjusted earnings, less notable items, increased to $251 million, or $4.35 per diluted share. The company maintained a strong estimated combined risk-based capital ratio between 430% and 450%. Annuity sales decreased to $2.2 billion, and life sales fell to $32 million. The company also confirmed that stockholders adopted the definitive merger agreement with Aquarian Capital, valued at approximately $4.1 billion, which is expected to close in 2026.
Key Highlights
- Net loss available to shareholders was $(792) million, or $(13.82) per diluted share.
- Adjusted earnings, less notable items, reached $251 million, or $4.35 per diluted share.
- Estimated combined risk-based capital (RBC) ratio was 430%-450%, at the upper end of the target.
- Holding company liquid assets stood at $0.9 billion.
- Annuity sales totaled $2.2 billion, a 4% decrease quarter-over-quarter.
- Life sales were $32 million, an 11% decrease quarter-over-quarter.
- Stockholders adopted the $4.1 billion merger agreement with Aquarian Capital for $70.00 per share.
- Book value, excluding AOCI, was $8.0 billion, or $139.63 per common share.