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Brighthouse Financial BHF Index-linked Annuities — Deferred Policy Acquisition Cost

Other product segments

Variable Annuities
$2.03B
Fixed Rate Annuities
$118M

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LNCVariable Annuities — Deferred Policy Acquisition Cost
$4.04B+3.9%

Other financials

Income statement

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Revenue$1.6B+86.2%
Net income$981.0M+1,054%
EPS (diluted)$16.53+1,521%

Balance sheet

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Cash & equivalents$7.1B+28.2%
Total debt$3.2B0.0%
Total equity$6.6B+15.5%
Total assets$247.18B+1.9%

Cash flow

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Operating cash flow-$431.0M

Valuation

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Market cap$3.57B+31.0%
Enterprise value-$379.6M-211%
P/E4.3×+0.2×
P/S0.5×+0.1×

Profitability

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Net margin12.5%+2.2pp

Returns & leverage

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Return on equity13.6%+0.1pp
Debt / equity0.5×-0.1×

Where this comes from

Reported directly by Brighthouse Financial in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCosts.

The source filing: Brighthouse Financial’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:12 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001685040-26-000028
Six Months Ended June 30, 2026Variable AnnuitiesFixed Rate AnnuitiesIndex-linked AnnuitiesTerm and Whole Life InsuranceUniversal Life Insurance
Balance, beginning of period$1,949$120$1,581$265$315
Capitalization221203(1)10
Amortization(103)(1)(155)(21)(18)
Balance, end of period1,8681201,629243307
VOBA:
Balance, beginning of period25151332
Amortization(13)(2)(2)
Balance, end of period23849330

Item 1. Financial Statements

FAQ

What is Brighthouse Financial's index-linked annuities — deferred policy acquisition cost?
Brighthouse Financial (BHF) reported index-linked annuities — deferred policy acquisition cost of $1.63B in Q2 2026.
How has Brighthouse Financial's index-linked annuities — deferred policy acquisition cost changed year-over-year?
Brighthouse Financial's index-linked annuities — deferred policy acquisition cost increased by 7.0% year-over-year, from $1.52B to $1.63B.
What is the long-term trend for Brighthouse Financial's index-linked annuities — deferred policy acquisition cost?
Over 3 years (2022 to 2025), Brighthouse Financial's index-linked annuities — deferred policy acquisition cost has grown at a 9.6% compound annual growth rate (CAGR), from $4.67B to $6.15B.
What does index-linked annuities — deferred policy acquisition cost mean?
This metric represents the capitalized costs directly associated with acquiring new annuity contracts, such as sales commissions and underwriting expenses, which are deferred and amortized over the life of the policy. It reflects the upfront investment made by the company to generate future revenue streams. Tracking this asset helps investors understand the long-term profitability and efficiency of the company's distribution channels.

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