Revenue: As of FY2025, the actual value is USD 6.766 B.

EPS: As of FY2025, the actual value is USD 5.71.

EBIT: As of FY2025, the actual value is USD 626 M.

Overall Company Financials

• Net Income (Loss) Available to Shareholders:
  • 2025: $331 million (net of $36 million income tax)
  • 2024: $286 million (net of $29 million income tax)
• Pre-tax Adjusted Earnings (Loss):
  • 2025: $1,996 million
  • 2024: $1,623 million
• Adjusted Earnings (Loss):
  • 2025: $1,617 million
  • 2024: $1,319 million
• Total Expenses:
  • 2025: $6,292 million
  • 2024: $4,302 million
• Income (Loss) Before Provision for Income Tax:
  • 2025: $474 million
  • 2024: $422 million
• Provision for Income Tax Expense (Benefit):
  • 2025: $36 million
  • 2024: $29 million
• Preferred Stock Dividends:
  • 2025: $102 million
  • 2024: $102 million
• Total Long-Term Consolidated Indebtedness:
  • As of December 31, 2025: $3.2 billion
• Common Stock Repurchase Program Remaining:
  • As of December 31, 2025: $441 million

Assets Under Management (AUM)

• Total AUM:
  • As of December 31, 2025: $206,157 million
  • As of December 31, 2024: $203,023 million
• AUM by Segment (As of December 31, 2025):
  • Annuities: $152,745 million
  • Life: $15,821 million
  • Run-off: $26,900 million
  • Corporate & Other: $10,691 million

Annuities Segment

• Segment Revenue (Variable Annuity Fees, Net of pass-through amounts):
  • 2025: $2.5 billion
  • 2024: $2.6 billion
• Insurance Liabilities (Excluding MRB liabilities, As of December 31, 2025):
  • Variable: $79,321 million
  • Shield Annuities: $35,621 million
  • Fixed Deferred: $19,007 million
  • Income: $4,788 million
  • Total: $138,737 million
• Deposits for Shield Annuities and Variable Annuities:
  • 2025: $8,715 million (Shield Annuities: $8,008 million, GMWB: $445 million, GMDB only: $249 million, GMIB: $13 million)
  • 2024: $8,300 million (Shield Annuities: $7,671 million, GMWB: $355 million, GMDB only: $252 million, GMIB: $22 million)
• Variable Annuity Account Values and Benefit Base (As of December 31, 2025):
  • Total Account Value (GMDB type): $79,321 million
  • Total Benefit Base (GMDB type): $90,414 million
  • Total Account Value (GMLB type): $59,043 million
  • Total Benefit Base (GMLB type): $78,766 million
• Net Amount at Risk (NAR) by GMxB type (As of December 31, 2025):
  • Total Death Benefit NAR: $11,915 million
  • Total Living Benefit NAR: $5,785 million
• Variable Annuity MRBs by type of GMxB (As of December 31, 2025):
  • Total: $8,048 million
• Shield Embedded Derivative Liabilities:
  • As of December 31, 2025: $11.0 billion

Life Segment

• Segment Revenue (Direct Premiums Received):
  • 2025: $943 million (Term: $457 million, Whole: $316 million, Universal: $96 million, Variable: $134 million)
  • 2024: $1,107 million (Term: $498 million, Whole: $360 million, Universal: $99 million, Variable: $150 million)
• Insurance Liabilities (As of December 31, 2025):
  • Term: $2,472 million
  • Whole: $3,493 million
  • Universal: $2,078 million
  • Variable: $8,000 million
  • Total: $16,043 million
• In-Force Face Amount (As of December 31, 2025):
  • Term: $312,477 million
  • Whole: $16,098 million
  • Universal: $9,339 million
  • Variable: $31,714 million

Run-off Segment

• Insurance Liabilities (As of December 31, 2025):
  • ULSG: $17,137 million
  • Structured Settlements: $4,477 million
  • Pension Risk Transfer: $2,110 million
  • Company-Owned Life Insurance: $3,109 million
  • Other: $52 million
  • Total: $26,885 million
• Net Statutory Reserves for ULSG Business:
  • 2025: $24.4 billion
  • 2024: $24.6 billion

Outlook / Guidance

Brighthouse Financial, Inc. (BHF) entered a merger agreement to be acquired by Aquarian Holdings VI L.P. for $70.00 per share in cash, with the closing expected in 2026 pending regulatory approvals. The company is currently restricted from declaring common stock dividends or repurchasing common stock. Despite an increase in statutory reserves from the 2025 Annual Actuarial Review, the preliminary Combined RBC Ratio of 456% remains above the target range of 400% to 450% under normal market conditions.