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]
Brookfield Wealth Solutions Announces Year End 2024 Results and Declares Quarterly Distribution Increase