Press release
Brighthouse Financial Announces Fourth Quarter and Full Year 2019 Results
Fourth quarter 2019 net loss available to shareholders of $1,077 million, or $10.02 per diluted share, driven primarily by net derivative mark-to-market
About this update from Brighthouse Financial, Inc.
[{"type":"text","content":"\n\nFourth quarter 2019 net loss available to shareholders of $1,077 million, or $10.02 per diluted share, driven primarily by net derivative mark-to-market losses\n\n\nFourth quarter 2019 adjusted earnings, less notable items*, of $265 million, or $2.46 per diluted share\n\n\nAnnuity sales grew 10 percent over the fourth quarter of 2018 and 23 percent for the full year 2019\n\n\nApproval of $600 million dividend from Brighthouse Reinsurance Company of Delaware (\"BRCD\")\n\n\nApproximately 550 percent estimated combined risk-based capital (\"RBC\") ratio\n\n\nCompany repurchased approximately $128 million of its common stock during the quarter; announced authorization of the repurchase of up to an additional $500 million of common stock\n\n\n CHARLOTTE, N.C.--(BUSINESS WIRE)--\nBrighthouse Financial, Inc. (\"Brighthouse Financial\" or the \"company\") (Nasdaq: BHF) announced today its financial results for the fourth quarter and full year ended December 31, 2019.\n\n\nFourth Quarter and Full Year 2019 Results\n\n\nThe company reported a net loss available to shareholders of $1,077 million in the fourth quarter of 2019, or $10.02 per diluted share, compared with net income available to shareholders of $1,442 million in the fourth quarter of 2018. During the quarter, as a result of strong equity markets and rising interest rates, the value of our hedges, which the company uses to protect its balance sheet against adverse market conditions, decreased, as expected, while corresponding liabilities under U.S. GAAP accounting were not as significantly impacted as they are less sensitive to market movements. The company ended the fourth quarter of 2019 with common stockholders' equity (\"book value\") of $15.8 billion, or $148.64 per common share, and book value, excluding accumulated other comprehensive income (\"AOCI\") of $12.5 billion, or $118.08 per common share.\n\n\nFor the fourth quarter of 2019, the company reported adjusted earnings* of $282 million, or $2.61 per diluted share.\n\n\nAdjusted earnings for the quarter reflected $17 million after tax of the following net favorable notable items, or $0.16 per diluted share:\n\n\n\n$42 million favorable impact related to refinements to certain actuarial assumptions.\n\n\n$25 million unfavorable impact as a result of establishment costs related to planned technology and other expen...