v3.26.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Information, by Segment
The tables below provide information about the Company’s segments, including significant segment expenses, and reconciliations to Net income (loss) attributable to Brighthouse Life Insurance Company.
Three Months Ended March 31, 2026
Annuities
Life
Run-off
Corporate & Other
Total
(In millions)
Total revenues
$
703 
$
186 
$
353 
$
124 
$
1,366 
Less: Revenues excluded from adjusted earnings (1)
(555)
(7)
(10)
2 
Less: Segment expenses:
Policyholder benefits and claims
127 
145 
343 
— 
Interest credited to policyholder account balances, excluding market value adjustments
333 
23 
53 
90 
Amortization of DAC and VOBA
135 
12 
— 
— 
Interest expense on debt
— 
— 
— 
17 
Other expenses (2)
272 
32 
28 
43 
Less: Provision for income tax expense (benefit)
74 
(4)
(13)
(14)
Less: Net income (loss) attributable to noncontrolling interests
— 
— 
— 
— 
Adjusted earnings (loss)
$
317 
$
(15)
$
(48)
$
(14)
240 
Adjustments for:
Net investment gains (losses)
(52)
Investment gains (losses) on trading securities
(10)
Net derivative gains (losses), excluding investment hedge adjustments of $0
(508)
Change in market risk benefits
(748)
Market value adjustments
13 
Provision for income tax (expense) benefit
274 
Net income (loss) attributable to Brighthouse Life Insurance Company
$
(791)
Interest revenue
$
769 
$
87 
$
268 
$
122 
Three Months Ended March 31, 2025
Annuities
Life
Run-off
Corporate & Other
Total
(In millions)
Total revenues
$
1,489 
$
225 
$
368 
$
150 
$
2,232 
Less: Revenues excluded from adjusted earnings (1)
247 
(10)
1 
5 
Less: Segment expenses:
Policyholder benefits and claims
111 
156 
352 
— 
Interest credited to policyholder account balances, excluding market value adjustments
357 
21 
60 
106 
Amortization of DAC and VOBA
124 
12 
— 
— 
Interest expense on debt
— 
— 
— 
17 
Other expenses (2)
271 
40 
36 
46 
Less: Provision for income tax expense (benefit)
72 
1 
(18)
(13)
Less: Net income (loss) attributable to noncontrolling interests
— 
— 
— 
— 
Adjusted earnings (loss)
$
307 
$
5 
$
(63)
$
(11)
238 
Adjustments for:
Net investment gains (losses)
(81)
Investment gains (losses) on trading securities
6 
Net derivative gains (losses), excluding investment hedge adjustments of $0
318 
Change in market risk benefits
(896)
Market value adjustments
(10)
Provision for income tax (expense) benefit
138 
Net income (loss) attributable to Brighthouse Life Insurance Company
$
(287)
Interest revenue
$
751 
$
94 
$
272 
$
146 
_______________
(1)For each reportable segment, certain revenues are excluded from adjusted earnings (loss), including net investment gains (losses), investment gains (losses) on trading securities and net derivative gains (losses), excluding Investment Hedge Adjustments.
(2)Other expenses include corporate expense allocations directly attributable to each of the segments.
Total assets by segment were as follows at:
March 31, 2026
December 31, 2025
(In millions)
Annuities
$
160,935 
$
164,175 
Life
21,689 
21,802 
Run-off
24,729 
25,470 
Corporate & Other
20,218 
20,539 
Total
$
227,571 
$
231,986 
Premiums, Universal Life and Investment-Type Product Policy Fees and Other Revenues by Product Groups
Total premiums, universal life and investment-type product policy fees and other revenues by major product group were as follows:
Three Months Ended
March 31,
20262025
(In millions)
Annuity products
$
489 
$
491 
Life insurance products
198 
233 
Other products
3 
2 
Total
$
690 
$
726