Core Insights - Brookfield Wealth Solutions has reported a significant increase in group capital, tripling from $5.7 billion in 2022 to an estimated $16.1 billion in 2024, driven by retained earnings and capital contributions from Brookfield Corporation [2][4]. Group Capital Summary - As of December 31, 2024, the total group capital for Brookfield Wealth Solutions reached over $16 billion, with $13.5 billion from insurance subsidiaries and $2.6 billion from group holding companies [4]. - The growth trajectory shows an increase from $5.1 billion in insurance subsidiaries and $0.7 billion in group holding companies in 2022 to $7.5 billion and $1.5 billion respectively in 2023 [4]. Leadership Commentary - CEO Sachin Shah emphasized the commitment of over 5,000 employees to serve policyholders and retirees, contributing to the establishment of a robust wealth management business [3]. - The company participated in its first group Supervisory College, sharing details of its financial position with regulators from eight jurisdictions, indicating a proactive approach to regulatory engagement [3]. Market Expansion - Brookfield Wealth Solutions is preparing to enter the UK insurance market, signaling intentions for continued growth and expansion in 2025 [3].

Core Viewpoint - Brookfield Wealth Solutions is entering the UK insurance market to provide bulk annuity solutions for pension schemes, following regulatory approvals from the PRA and FCA [1][4]. Group 1: Market Opportunity - The UK pension buyout market is expected to see over £500 billion in demand over the next decade, presenting a significant growth opportunity for Brookfield Wealth Solutions [2]. - Brookfield Wealth Solutions aims to leverage its strong North American operations and capital to establish a presence in the UK market [2][3]. Group 2: Company Background - Brookfield Wealth Solutions was spun out of Brookfield Corporation in June 2021 and is focused on securing financial futures through retirement services and wealth protection products [3][5]. - The company has over $140 billion in total assets and is committed to providing long-term financial security for its policyholders [4]. Group 3: Operational Details - Brookfield Wealth Solutions is expected to begin operations in the UK later in the first quarter of 2025, pending final regulatory approvals, and will operate under the Blumont Annuity UK brand [4][6]. - Brookfield already has a significant presence in the UK, managing over £63 billion in assets across various sectors, including infrastructure and renewable power [3].

Core Insights - Brookfield Wealth Solutions reported strong financial results for 2024, highlighting a significant growth trajectory with the business size doubling over the year [2][4][8] - The company aims to leverage its scalable North American annuity platform and investment capabilities for international expansion in 2025 [2] Financial Performance - Total assets reached $140.46 billion in 2024, up from $61.64 billion in 2023 [4][10] - Adjusted equity increased to $12.87 billion from $8.97 billion year-over-year [4][15] - Distributable operating earnings (DOE) for the year were $1.37 billion, a substantial increase from $745 million in 2023 [4][14] - Net income for 2024 was $1.25 billion, compared to $797 million in the previous year [5][12] Revenue Breakdown - Total revenues for 2024 amounted to $14.1 billion, significantly higher than $6.91 billion in 2023 [12] - Net premiums and other policy revenue surged to $9.05 billion from $4.55 billion year-over-year [12] - Net investment income also saw a rise, reaching $4.44 billion compared to $2.12 billion in 2023 [12] Operational Highlights - The acquisition of American Equity Investment Life Holding Company (AEL) was completed, contributing to the doubling of the business size [8] - The company deployed over $17 billion across its investment portfolio, achieving strong risk-adjusted returns [8] - Annuity and pension risk transfer sales totaled $19 billion, with $14 billion from retail annuity sales and $5 billion from PRT deals [8] Liquidity Position - Brookfield Wealth Solutions maintains a robust liquidity position with approximately $31 billion in cash and short-term liquid investments, alongside $21 billion in long-term liquid investments [6] Distribution Declaration - The Board declared a 13% increase in the quarterly return of capital to $0.09 per class A and B share, payable on March 31, 2025 [7]

Core Insights - Brookfield Wealth Solutions reported strong financial results for 2024, highlighting a significant growth in total assets and earnings, with the business doubling in size over the year [2][4][5] Financial Performance - Total assets increased to $140.46 billion in 2024 from $61.64 billion in 2023 [2][12] - Adjusted equity rose to $12.87 billion in 2024, up from $8.97 billion in 2023 [2][16] - Distributable operating earnings (DOE) for the year were $1.37 billion, compared to $745 million in 2023, reflecting a substantial increase [4][15] - Net income for 2024 was $1.25 billion, up from $797 million in the previous year [5][14] Revenue and Sales - The company generated $19 billion in annuity and pension risk transfer (PRT) sales, including $14 billion from retail annuity sales and $5 billion from PRT deals [8] - Net investment income for the year was $4.44 billion, significantly higher than $2.12 billion in 2023 [14] Liquidity Position - Brookfield Wealth Solutions maintains a strong liquidity position with approximately $31 billion in cash and short-term liquid investments, alongside $21 billion in long-term liquid investments [6] Distribution Declaration - The Board declared a 13% increase in the quarterly return of capital to $0.09 per class A and class B share, payable on March 31, 2025 [7] Strategic Initiatives - The acquisition of American Equity Investment Life Holding Company (AEL) was completed, contributing to the doubling of the business size [8] - The company plans to expand internationally in 2025, leveraging its scalable North American annuity platform and investment capabilities [2]