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