Brighthouse Financial
 | |
| Company type | Public |
|---|---|
| ISIN | US10922N1037 |
| Industry | Insurance |
| Founded | 2017 |
| Headquarters | Charlotte, North Carolina, U.S. |
Key people |
|
| Products | Life Insurance and Annuities |
| Revenue |  US$8.503 billion (2020)[1] |
Number of employees | 1,500 (December 31, 2021) |
| Website | brighthousefinancial |
Brighthouse Financial, Inc. is an American insurance company, headquartered in Charlotte, North Carolina, that sells annuity and life insurance. Brighthouse is one of the largest providers of annuities and life insurance in the United States, with $219 billion in total assets and approximately 2.6 million insurance policies and annuity contracts in-force (as of March 31, 2018).[2][3]
History
[edit]Separation from MetLife
[edit]In January 2016, MetLife, Inc. announced its intention to separate a substantial portion of the company’s U.S. Retail segment, which focused on selling life insurance and annuities.[4] The entities marked for separation into the new enterprise included: Brighthouse Life Insurance Company (formerly MetLife Insurance Company USA), Brighthouse Life Insurance Company of NY (formerly First MetLife Investors Insurance Company) and New England Life Insurance Company.[5] On July 21, 2016, MetLife announced it would rebrand the business as Brighthouse Financial and on March 6, 2017 the company began selling annuity and life insurance under the Brighthouse Financial brand.[6]
On August 4, 2017, Brighthouse Financial completed its separation from MetLife. The company began trading on the Nasdaq stock exchange on August 7, 2017 under the symbol "BHF".[7][8] Upon completion of the separation, MetLife retained a 19.2% stake in the company.[9] In 2018, MetLife divested its remaining interest through a debt-for-equity exchange with four financial institutions that owned MetLife debt.[10]
Origin
[edit]The company was formed in 2017 from foundations created by Travelers, which began selling life insurance in 1923 and annuities in 1938, and MetLife, which acquired New England Life Insurance Company (NELICO) in 1996 and annuity company Security First Group, Inc in 1997. In 2005, MetLife acquired Travelers Life.[11]
Products
[edit]Brighthouse Financial sells annuity and life insurance products to U.S. consumers through multiple independent distribution channels.[12] These products are serviced by a third-party vendor, DXC Technology, instead of directly by Brighthouse Financial.
Company leadership
[edit]Brighthouse Financial is led by President and Chief Executive Officer Eric Steigerwalt (formerly Executive Vice President of U.S. Retail Business at MetLife).[13]
Additional members of the management team include:[14]
Chief Financial Officer Edward Spehar (formerly treasurer at MetLife),
Chief Investment Officer John Rosenthal (formerly Senior Managing Director at MetLife),
Chief Marketing and Distribution Officer Myles Lambert (formerly Senior Vice President of MetLife’s Northeast Region for the MetLife Premier Client Group),
Chief Human Resources Officer Vonda Huss (formerly Executive Vice-President at Wells Fargo), and
General Counsel Allie Lin (formerly Senior Director and Counsel at AXA Equitable Life Insurance Company).
References
[edit]- ^ "Brighthouse Financial Revenue 2016-2021 | BHF".
- ^ "Brighthouse Registration Statement on Form S-1". US SEC. Retrieved 31 July 2018.
- ^ "DEF 14A". www.sec.gov. Retrieved 2018-07-31.
- ^ Rosenfeld, Everett (2016-01-12). "MetLife plans to spin off its US life-insurance unit, biggest in US". CNBC.com. Retrieved 2017-06-12.
- ^ "Introducing Brighthouse Financial". www.metlife.com. Retrieved 2017-06-12.
- ^ "MetLife retail business will be Brighthouse Financial". retirementincomejournal.com. Retrieved 2017-06-12.
- ^ "Brighthouse Valued at $7.5 Billion in Debut After Spinoff". Bloomberg.com. 2017-08-07. Retrieved 2017-08-29.
- ^ Scism, Leslie (2017-08-05). "Breaking From MetLife, Brighthouse Has a Tough Task: Selling Insurance". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-08-29.
- ^ Annual, Report. "2018 annual report". Brighthouse Financial. Retrieved 16 April 2020.
- ^ Kiesche, Liz (12 June 2018). "Brighthouse Financial announces secondary stock offering (NASDAQ:BHF)". Seeking Alpha. Retrieved 16 April 2020.
- ^ "Brighthouse Financial History | Brighthouse Financial". www.brighthousefinancial.com. Retrieved 2025-04-19.
- ^ Robbins, Christopher. "MetLife Announces Rebranding of U.S. Retail Business". www.fa-mag.com. Retrieved 2017-06-14.
- ^ David Einhorn. "GreenLight Capital Inc - 13F Holdings". fintel.io. Retrieved 16 April 2020.
- ^ "Brighthouse Annual Report to Shareholders 2023". Brighthouse. p. 30. Retrieved 2025-03-13.
External links
[edit]- Official website
- Business data for Brighthouse Financial, Inc.: