Brighthouse Financial, Inc.
brighthousefinancial.comWhat Do They Do?
Sells annuity contracts for retirement savings and income, and life insurance policies to people planning for retirement or seeking insurance coverage.
10-K for FY2025, filed Feb 24, 2026We are one of the largest providers of annuity and life insurance products in the U.S. with over 2.0 million annuity contracts and…View ↗
Our Annuities segment consists of a variety of variable, fixed, index-linked and income annuities designed to address contract holders’…View ↗
Income annuities are annuity contracts under which the contract holder contributes a portion of their retirement assets in exchange for a…View ↗
How Do They Make Money?
Annuity buyers make purchase payments into contracts, and the company collects account-based and guarantee fees on variable annuities. Life policyholders pay traditional premiums when due, while universal-life fees are charged when assessed.
10-K for FY2025, filed Feb 24, 2026Fixed deferred annuities are single premium deferred annuity contracts that are designed for growth and to address asset accumulation…View ↗
We earn various types of fee revenue based on account value, fund assets and the guarantees for contracts that invest through a separate…View ↗
Living Benefit Rider Fees. We earn these fees for promising to pay guaranteed benefits while the contract holder is alive, such as for any…View ↗
Recognition of Revenues and Deposits on Insurance ContractsView ↗
Deposits related to universal life insurance, deferred annuity contracts and investment contracts are credited to policyholder account…View ↗
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10-K for FY2025, filed Feb 24, 2026
FY2025 revenue by reportable segment ↗
$6.8B
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10-K for FY2025, filed Feb 24, 2026
$6.8B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Annuities
Recurring
10-K for FY2025, filed Feb 24, 2026 |
54%
FY2022: 80%
|
Annuities, FY2025
$3.6B Sources
|
Recurring |
|
Life
Recurring
10-K for FY2025, filed Feb 24, 2026 |
17%
FY2022: 17%
|
Life, FY2025
$1.1B Sources
|
Recurring |
|
Run-off
|
19%
FY2022: −2.9%
|
Run-off, FY2025
$1.3B Sources
|
|
|
Corporate Segment and Other Operating Segment
|
10%
FY2022: 5.8%
|
Corporate Segment and Other Operating Segment, FY2025
$705M Sources
|
Who Are Their Customers?
The company reaches policyholders through independent distribution partners. Annuities are sold through broker-dealers, banks and financial planners; life products also go through agencies and online marketplaces.
10-K for FY2025, filed Feb 24, 2026We are one of the largest providers of annuity and life insurance products in the U.S. with over 2.0 million annuity contracts and…View ↗
We distribute our annuity and life insurance products through multiple independent distribution channels and marketing arrangements with a…View ↗
Our annuity products are distributed through national and regional broker-dealers, banks, independent financial planners, independent…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 6 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 24, 2026
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
Growing. Revenue grew 36% in 4 years, from $5B in FY2021 to $6.8B in FY2025, about 8% a year.
Expanded annuity product mix
The older report describes new sales as primarily Shield annuities and variable annuities with simplified living benefits; the latest report also includes fixed annuities in that mix.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 24, 2026Our Annuities segment consists of a variety of variable, fixed, index-linked and income annuities designed to address contract holders’…View ↗
Our Annuities segment consists of a variety of variable, fixed, index-linked and income annuities designed to address contract holders’…View ↗
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