Brighthouse Holds Variable Annuity Sales (Almost) Steady: Earnings

August 12, 2020 by Allison Bell

Brighthouse Financial managed to sell almost as many individual annuities in the second quarter as it sold in the second quarter of 2019.

The company’s sales of individual annuities fell to $1.84 billion in the second quarter, from $1.89 billion in the year-earlier quarter.

Brighthouse sales of life insurance increased to $12 million, from $4 million.

Brighthouse uses derivatives to support the annuities it sells. Because of efforts to include fluctuations in the value of its derivatives in its earnings, its second-quarter earnings look bad.

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Originally Posted at ThinkAdvisor on August 7, 2020 by Allison Bell.