Press release
Brighthouse Financial Announces Fourth Quarter and Full Year 2022 Results
Estimated combined risk-based capital ("RBC") ratio of approximately 440%; holding company liquid assets of $1.0 billion The company repurchased $488 million
About this update from Brighthouse Financial, Inc.
[{"type":"text","content":"\n\nEstimated combined risk-based capital (\"RBC\") ratio of approximately 440%; holding company liquid assets of $1.0 billion\n\n\nThe company repurchased $488 million of its common stock in full year 2022, reducing shares outstanding relative to year-end 2021 by 12%; repurchased an additional $27 million year-to-date through February 7, 2023\n\n\nRecord annuity sales for full year 2022 of $11.5 billion, driven by strong sales of fixed deferred annuities\n\n\nTotal life sales of $80 million for full year 2022\n\n\nFourth quarter 2022 net loss available to shareholders of $967 million, or $14.01 per diluted share\n\n\nFourth quarter 2022 adjusted earnings, less notable items*, of $245 million, or $3.51 per diluted share\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, 2022.\n\nFourth Quarter and Full Year 2022 Results\n\nThe company reported a net loss available to shareholders of $967 million in the fourth quarter of 2022, or $14.01 per diluted share, compared with net income available to shareholders of $42 million in the fourth quarter of 2021. During the quarter, as a result of market performance, the value of our hedges decreased, as expected. Due to being accounted for as insurance liabilities as required under U.S. GAAP accounting, certain corresponding liabilities are less sensitive to market movements and, therefore, did not fully offset the decrease in the value of our hedges.\n\nThe company ended the fourth quarter of 2022 with common stockholders' equity (\"book value\") of $3.8 billion, or $55.11 per common share, and book value, excluding accumulated other comprehensive income (\"AOCI\") of $9.7 billion, or $142.04 per common share.\n\nFor the fourth quarter of 2022, the company reported adjusted earnings* of $242 million, or $3.46 per diluted share, compared with adjusted earnings of $323 million, or $4.02 per diluted share, in the fourth quarter of 2021.\n\n\n\n_______\n\n\n\n\n\n* Information regarding the non-GAAP and other financial measures included in this news release and a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP measures are provided in the Non-GAAP and Other Financial Disclosures discu...