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Brighthouse Financial BHF Variable Annuities — Effect of actual different from expected experience

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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:MarketRiskBenefitIncreaseDecreaseFromActualPolicyholderBehaviorDifferentFromExpected.

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
Line itemSix Months Ended June 30, 2026Six Months Ended June 30, 2025
Balance, beginning of period$7,001$7,233
Balance, beginning of period, before effect of changes in nonperformance risk5,4135,219
Decrements(61)(61)
Effect of actual different from expected experience139(28)
Effect of changes in interest rates(279)221
Effect of changes in fund returns(980)(799)
Effect of changes in equity index volatility18498
Issuances(2)

Item 1. Financial Statements

FAQ

What is Brighthouse Financial's variable annuities — effect of actual different from expected experience?
Brighthouse Financial (BHF) reported variable annuities — effect of actual different from expected experience of $24M in Q2 2026.
How has Brighthouse Financial's variable annuities — effect of actual different from expected experience changed year-over-year?
Brighthouse Financial's variable annuities — effect of actual different from expected experience increased by 366.7% year-over-year, from -$9M to $24M.
What is the long-term trend for Brighthouse Financial's variable annuities — effect of actual different from expected experience?
Over 2 years (2021 to 2025), Brighthouse Financial's variable annuities — effect of actual different from expected experience has grown at a 33.8% compound annual growth rate (CAGR), from -$86M to $154M.
What does variable annuities — effect of actual different from expected experience mean?
This metric quantifies the financial impact of variances between actual policyholder behavior and the actuarial assumptions used to price and reserve for variable annuity products. It highlights the sensitivity of the company's liabilities to deviations in lapse rates, withdrawal patterns, or mortality compared to original projections.

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