Brighthouse Financial BHF Universal Life Insurance — Changes related to embedded derivatives

Other product segments

Index-linked Annuities

-$1.18B—

Company-Owned Life Insurance

$0—

Fixed Rate Annuities

$0—

ULSG

$0—

Variable Annuities

$0—

Similar metrics at other companies

FGUniversal life — Change in fair value of other derivatives and embedded derivatives

$92M+220%

FNFUniversal Life — Change in fair value of other derivatives and embedded derivatives

$92M+220%

PFGUniversal Life — Embedded Derivative Gain Loss On Embedded Derivative Net

-$6.5M-250%

LNCUL and Other — Change in fair value of embedded derivative instrument and other

-$27M+58.5%

CRBGUniversal Life — Changes related to unrealized appreciation (depreciation) of investments

-$50M-252%

CINFUniversal life — Effect of changes in interest rate assumptions

$1M0.0%

Other financials

Income statement

See full

Revenue$1.5B-36.1%

Net income-$766.0M-186%

EPS (diluted)-$13.82-174%

Balance sheet

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Cash & equivalents$4.9B+5.1%

Total debt$3.2B0.0%

Total equity$5.6B+6.2%

Total assets$236.80B+0.9%

Cash flow

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Operating cash flow-$221.0M-251%

Valuation

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Market cap$3.65B+1.7%

Profitability

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Net margin-1.1%-9.8pp

Returns & leverage

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Return on equity-1.2%-14.2pp

Debt / equity0.6×0.0×

Where this comes from

Reported directly by Brighthouse Financial in its filing.

Tagged under the XBRL concept us-gaap:PolicyholderAccountBalanceIncreaseDecreaseFromOtherChange.

The official record: Brighthouse Financial’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Brighthouse Financial's universal life insurance — changes related to embedded derivatives?: Brighthouse Financial (BHF) reported universal life insurance — changes related to embedded derivatives of $1M in Q1 2026.
What does universal life insurance — changes related to embedded derivatives mean?: This metric tracks the impact of changes in the valuation of embedded derivatives within universal life insurance contracts. It reflects the volatility associated with market-linked features and the insurer's exposure to financial market fluctuations.