Brighthouse Financial(US:BHF)2024-02-13 15:06Financial Performance & Capital Position - The company's estimated combined risk-based capital (RBC) ratio is approximately 420%[6,7,19] - Holding company liquid assets stand at $1.3 billion[6,20] - The statutory combined total adjusted capital (TAC) is about $6.3 billion[6,19] - The full year normalized statutory loss was $0.2 billion[6] - Q4 2023 adjusted earnings, less notable items, reached $189 million[6] Share Repurchases - The company repurchased $60 million of common stock in Q4 2023, and $250 million for the full year, reducing outstanding shares by 7% compared to year-end 2022[6] - An additional $30 million in shares were repurchased year-to-date through February 9, 2024, leaving approximately $763 million remaining under share repurchase authorizations[6] Impact of New Statutory Requirement - Implementation of new statutory requirements reduced TAC by $870 million in Q4 2023 due to reserves now including estimated future hedging costs[7] - A substantial decline in required capital driven by ~$1.14 billion reduction in total asset requirement at CTE98[7] Segment Performance (Adjusted Earnings, less notable items) - Annuities generated $245 million in adjusted earnings, less notable items[11,48] - Life Insurance reported $4 million in adjusted earnings, less notable items[13,48] - The Run-off segment showed a loss of $50 million in adjusted earnings, less notable items[16,48] - Corporate & Other reported a loss of $10 million in adjusted earnings, less notable items[17,48]