Brighthouse Financial reported second quarter 2025 adjusted earnings of $198 million or $3.43 per share, down from $245 million in Q1 2025 and $346 million in Q2 2024.
Corporate expenses were $202 million pretax, down from $239 million in Q1 2025 but slightly higher than $200 million in Q2 2024.
Estimated combined risk-based capital (RBC) ratio was between 405% and 425%, within the target range of 400% to 450%.
Holding company liquid assets exceeded $900 million as of June 30, 2025.
Life insurance sales reached $33 million in Q2, contributing to a record $69 million year-to-date, up 21% year-over-year.
Total annuity sales increased 16% sequentially to $2.6 billion, with Shield sales contributing $1.9 billion and fixed annuities $500 million.
Average deposits were up 1% linked quarter and 6% year-over-year excluding payroll and broker deposits.
Average loans increased by $95 million or 1% linked quarter and $327 million or 4% year-over-year.
Net interest income increased by $2.2 million or 2% linked quarter and 4% year-over-year.
Net interest margin was 3.27%, up 3 basis points linked quarter.
Nonperforming loans were 27 basis points of total loans, net charge-offs were $3.3 million, down $200,000 linked quarter, and coverage ratio remained flat at 124 basis points.
Operating earnings per share were $0.69, up 15% from the first quarter and 25% year-over-year.
Operating expenses were $67 million, down 2% linked quarter and 7% year-over-year.
Operating net income was $31.6 million, up 14% linked quarter and 36% year-over-year.
Operating noninterest income was up 5% linked quarter and 8% year-over-year, driven by loan-related fees and BOLI gains.
Operating ROTCE was 10.76%, up about 110 basis points linked quarter and year-over-year.
Dafinchi