Brighthouse Financial closes reinsurance deal, boosts combined RBC ratio to 400%-420%

Brighthouse Financial, Inc.

Reinsured legacy block of fixed and payout annuities with third party, effective Sep 30, 2024.
Estimated combined RBC ratio rose from 365%-385% to 400%-420%, now within 400%-450% target range.
CEO Eric Steigerwalt says deal improves capital efficiency and helps return to target RBC range.
Transaction completed on Nov 8, 2024; previously discussed on Q3 2024 earnings call.

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