Brighthouse Financial Announces Completion of Reinsurance Transaction

Business Wire

2024-11-09

CHARLOTTE, N.C., November 08, 2024--(BUSINESS WIRE)--Brighthouse Financial, Inc. ("Brighthouse Financial" or the "company") (Nasdaq: BHF) announced today that it has completed a reinsurance transaction with a third party to reinsure a legacy block of the company’s fixed and payout annuities. The transaction was previously discussed on the company’s earnings call for the quarter ended September 30, 2024, which was held on the morning of November 8, 2024.

"This transaction reflects our ongoing progress against several strategic initiatives designed to improve capital efficiency, unlock capital and return to our target combined risk-based capital, or RBC, ratio range in normal market conditions," said Eric Steigerwalt, president and CEO, Brighthouse Financial. "As a result of this transaction, our estimated combined RBC ratio as of the end of the third quarter increased to between 400% and 420%, which is within our target range of 400% to 450% in normal market conditions."

About Brighthouse Financial, Inc.

Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S.,¹ we specialize in products designed to help people protect what they’ve earned and ensure it lasts. Learn more at brighthousefinancial.com.

¹ Ranked by 2023 admitted assets. Best’s Review^®: Top 200 U.S. Life/Health Insurers. AM Best, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241108040161/en/

Contacts

FOR INVESTORS
Dana Amante
(980) 949-3073
damante@brighthousefinancial.com

FOR MEDIA
Deon Roberts
(980) 949-3071
deon.roberts@brighthousefinancial.com

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(\"Brighthouse Financial\" or the \"company\") (Nasdaq: BHF) announced today that it has completed a reinsurance transaction with a third party to reinsure a legacy block of the company’s fixed and payout annuities. The transaction was previously discussed on the company’s earnings call for the quarter ended September 30, 2024, which was held on the morning of November 8, 2024.</p>\n<p>\"This transaction reflects our ongoing progress against several strategic initiatives designed to improve capital efficiency, unlock capital and return to our target combined risk-based capital, or RBC, ratio range in normal market conditions,\" said Eric Steigerwalt, president and CEO, Brighthouse Financial. \"As a result of this transaction, our estimated combined RBC ratio as of the end of the third quarter increased to between 400% and 420%, which is within our target range of 400% to 450% in normal market conditions.\"</p>\n<p><b>About Brighthouse Financial, Inc.</b></p>\n<p>Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S.,<sup>1</sup> we specialize in products designed to help people protect what they’ve earned and ensure it lasts. Learn more at brighthousefinancial.com.</p>\n<p><sup>1</sup> Ranked by 2023 admitted assets. Best’s Review<sup>®</sup>: Top 200 U.S. Life/Health Insurers. AM Best, 2024.</p>\n<p><span>View source version on businesswire.com: </span><span>https://www.businesswire.com/news/home/20241108040161/en/</span></p>\n<p><b>Contacts</b></p>\n<p><b>FOR INVESTORS </b><br/>Dana Amante<br/>(980) 949-3073<br/>damante@brighthousefinancial.com<br/><br/><br/></p>\n<p><b>FOR MEDIA </b><br/>Deon Roberts<br/>(980) 949-3071<br/>deon.roberts@brighthousefinancial.com<br/><br/><br/></p></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.yahoo.com/news/brighthouse-financial-announces-completion-reinsurance-213000391.html\">Business Wire</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://finance.yahoo.com/news/brighthouse-financial-announces-completion-reinsurance-213000391.html","article_id":"2482459402","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/jyGbbNO4hawEzg0y0kFGnQ--~B/aD0zMDk7dz05Njk7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/business-wire.com/713686722753ce3e24763f9823e533a5"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482459402","pubTimestamp":1731101400,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"CHARLOTTE, N.C., November 08, 2024----Brighthouse Financial, Inc.   announced today that it has completed a reinsurance transaction with a third party to reinsure a legacy block of the company’s fixed and payout annuities. The transaction was previously discussed on the company’s earnings call for the quarter ended September 30, 2024, which was held on the morning of November 8, 2024.\"This transaction reflects our ongoing progress against several strategic initiatives designed to improve capital efficiency, unlock capital and return to our target combined risk-based capital, or RBC, ratio range in normal market conditions,\" said Eric Steigerwalt, president and CEO, Brighthouse Financial. \"As a result of this transaction, our estimated combined RBC ratio as of the end of the third quarter increased to between 400% and 420%, which is within our target range of 400% to 450% in normal market conditions.\". 1 Ranked by 2023 admitted assets. Best’s Review: Top 200 U.S. Life/Health Insurers. A","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"Brighthouse Financial宣布完成再保险交易","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHF":0.9,"BHFAM":0.9,"BHFAN":0.9,"BHFAO":0.9,"BHFAP":0.9},"content_text":"CHARLOTTE, N.C., November 08, 2024--(BUSINESS WIRE)--Brighthouse Financial, Inc. (\"Brighthouse Financial\" or the \"company\") (Nasdaq: BHF) announced today that it has completed a reinsurance transaction with a third party to reinsure a legacy block of the company’s fixed and payout annuities. The transaction was previously discussed on the company’s earnings call for the quarter ended September 30, 2024, which was held on the morning of November 8, 2024.\n\"This transaction reflects our ongoing progress against several strategic initiatives designed to improve capital efficiency, unlock capital and return to our target combined risk-based capital, or RBC, ratio range in normal market conditions,\" said Eric Steigerwalt, president and CEO, Brighthouse Financial. \"As a result of this transaction, our estimated combined RBC ratio as of the end of the third quarter increased to between 400% and 420%, which is within our target range of 400% to 450% in normal market conditions.\"\nAbout Brighthouse Financial, Inc.\nBrighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. 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