BOSTON--(BUSINESS WIRE)--Lendbuzz, an AI-based financial technology company that helps consumers obtain fair access to credit when purchasing a vehicle, today announced that it has added Diane Offereins to its board of directors. Ms. Offereins—who brings to the board more than 35 years of experience in the Financial Services industry— spent much of her storied career at Discover Financial Services, where she recently retired as the Executive Vice President, President Payment Services, having served in a ...

Brighthouse Financial, Inc. (BHF) has been favored by investors on the back of higher annuity sales, conservative investment strategy, asset growth, higher interest rates, a well-diversified and high-quality portfolio and sufficient liquidity.Growth ProjectionsThe Zacks Consensus Estimate for Brighthouse Financial’s 2024 earnings is pegged at $17.41 per share, indicating a 12.4% increase from the year-ago reported figure on 3.1% higher revenues of $8.63 billion.Earnings Surprise HistoryThe life insurer has ...

ArLawKa AungTun Shares of Brighthouse Financial (NASDAQ:BHF) have been a meaningful underperformer this year, as its capital performance and business complexity have led its discounted valuation to persist. Since I recommended purchasing them in October, Brighthouse shares have risen by over 8%, though this has lagged the S&P 500’s 11+% gain. While not a bad return, this underperformance is likely partly driven by concerns about its capital performance in Q3. However, I expect the company to report stro ...

Brighthouse Financial, Inc. (NASDAQ:BHF) Q3 2023 Earnings Conference Call November 8, 2023 8:00 AM ET Dana Amante - Head of IR Edward Spehar - EVP and CFO David Rosenbaum - Head of Products and Underwriting Conference Call Participants Tracy Benguigui - Barclays Elyse Greenspan - Wells Fargo Suneet Kamath - Jefferies Good morning, ladies and gentlemen and welcome to Brighthouse FinancialÂ's Third Quarter 2023 Earnings Conference Call. My name is Justin, and I'll be your coordinator today. At this time all p ...

Brighthouse Financial, Inc. Third Quarter 2023 Earnings Call Presentation Note regarding forward-looking statements This presentation and other oral or written statements that we make from time to time may contain information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties. We have tried, wherever possible, to identify such statements using words s ...

Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (continued) Table of Contents (4) Interest and dividend accruals, as well as cash interest coupons and dividends received, are excluded from the rollforward. September 30, 2023 Brighthouse Financial, Inc. 9. Long-term Debt Preferred Stock Table of Contents The per share and aggregate dividends declared for BHF's preferred stock by series were as follows: During the nine months ended September 30, 2023 and 2022, BHF repurchased 3,96 ...

Financial Data and Key Metrics - The company's estimated combined risk-based capital (RBC) ratio was between 430% and 450%, down from 460% to 480% at March 31, primarily driven by the annuity business, particularly the variable annuity book impacted by basis risk and market volatility [8] - Adjusted earnings for the annuity segment were $291 million in the quarter, driven by higher reserves and expenses, partially offset by higher fees and net investment income [9] - The life insurance segment reported adjusted earnings of $15 million, with higher net investment income being the primary driver [9] - The holding company's cash position was $900 million as of June 30, down from $1.1 billion at March 31, due to timing of interest expenses, subsidiary dividends, and share repurchases [35] Business Line Performance - Annuity sales, particularly Shield annuities, totaled $3.2 billion year-to-date, a 5% increase compared to the first half of 2022 [78] - Fixed deferred annuity sales reached $1.5 billion in the first half of 2023, reflecting the complementary nature of the annuity product portfolio [78] - Life insurance sales increased by 23% in the first half of 2023 compared to the same period in 2022, driven by the launch of new products like SmartGuard Plus [6][89] Market and Competitive Dynamics - The company launched SmartGuard Plus, a registered index-linked universal life insurance product, in July 2023, offering guaranteed distribution payments and a death benefit [6] - The company is working on a new fixed indexed annuity product, expected to launch later in 2023, targeting a broader market with sales of $80 billion in 2022 and $50 billion year-to-date in 2023 [44][116] - The competitive landscape for buffer annuities has expanded, with 19 carriers in the market and more expected to enter, driving product enhancements and increased competition [130] Strategic Direction and Industry Competition - The company is focused on shifting its business mix toward higher cash flow, lower-risk products, with Shield and fixed annuities now representing 40% of total annuity account value, up from 25% in 2016 [61][79] - The company plans to optimize capital through a reinsurance agreement between Brighthouse Life Insurance Company (BLIC) and its New York affiliate, expected to reverse $200 million of the second-quarter decline in total adjusted capital (TAC) [91] - The company is enhancing its Shield product offerings, including the launch of Shield Level Pay Plus in August 2022, which has been well-received in the market [48][109] Management Commentary on Operating Environment and Outlook - Management expects continued growth in Shield annuity sales in the second half of 2023, driven by product enhancements and a competitive market environment [120] - The company remains focused on maintaining a robust capital position, with an RBC ratio at the upper end of its target range (400% to 450%) and a strong liquidity position [90] - Management highlighted the importance of managing basis risk and optimizing hedging strategies, particularly in the variable annuity business, to protect the statutory balance sheet [31][38] Other Key Information - The company repurchased $152 million of common stock year-to-date through August 4, 2023, as part of its active and opportunistic share repurchase program [117] - The company plans to release updated long-term free cash flow projections in September 2023, providing further clarity on its capital generation and distribution strategy [81] Q&A Session Summary Question: Shield Sales and Competitive Conditions - Management expects Shield sales to remain strong in the second half of 2023, with no significant changes in the competitive environment [12][36] Question: Dividend Timing and Share Repurchases - The company reaffirmed its expectation to take a $300 million dividend from BLIC in the second half of 2023, with no specific timing provided [16][118] - Share repurchases are not directly linked to the timing of subsidiary dividends [83] Question: Normalized Statutory Earnings - Management noted that normalized statutory earnings can vary by hundreds of millions of dollars quarterly due to equity and interest rate movements, making it difficult to predict a run rate [39] Question: Basis Risk and Hedging Performance - Basis risk was a significant driver of the $200 million normalized statutory loss in the quarter, primarily related to the variable annuity book [41] - The company manages its hedging strategy to protect the statutory balance sheet, with net income expected to remain volatile [31] Question: Office Exposure Reduction - The company has reduced its office exposure to 24% of the portfolio and expects further reductions as the portfolio rolls off, with no specific target level [26][45] Question: Reinsurance Transaction Impact - The internal reinsurance transaction is expected to reverse $200 million of the second-quarter decline in TAC, with no additional impacts anticipated [108] Question: Fixed Indexed Annuity Product Launch - The company is developing a new fixed indexed annuity product, targeting a handful of distribution partners for its initial launch later in 2023 [44][116] Question: Competitive Dynamics in Buffer Annuities - The buffer annuity market is highly competitive, with 19 carriers and more expected to enter, driving product enhancements and increased competition [130]

Brighthouse Financial, Inc. Second Quarter 2023 Earnings Call Presentation Note regarding forward-looking statements This presentation and other oral or written statements that we make from time to time may contain information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties. We have tried, wherever possible, to identify such statements using words ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001-37905 Brighthouse Financial, Inc. (Exact name of registrant as specified in its charter) Delaware 81-3846992 (State or other jurisd ...

Brighthouse Financial, Inc. (NASDAQ:BHF) Q1 2023 Earnings Conference Call May 9, 2023 9:30 AM ET Conference Call Participants Good morning, ladies and gentlemen, and welcome to Brighthouse Financial's First Quarter 2023 Earnings Conference Call. My name is Olivia, and I'll be your coordinator today. [Operator Instructions]. As a reminder, this conference call is being recorded for replay purposes. Thank you, and good morning. Welcome to Brighthouse Financial's First Quarter 2023 Earnings Call. Materials for ...