Anita (Unknown Last Name)'s questions to Brighthouse Financial Inc (BHF) leadership • Q3 2024
Question
An analyst from Wells Fargo, identified as Anita, asked if the pending reinsurance deal would be onshore or offshore to gauge timing confidence and questioned if Shield annuity sales would slow down as a result of the company's capital situation.
Answer
CEO Eric Steigerwalt declined to specify the deal's structure but firmly stated that the company does not intend to slow down sales, as its strategic initiatives are designed to support new business. In a notable closing remark, Steigerwalt announced that the necessary approvals for the reinsurance transaction had just been received, and they expect to execute it with a September 30 effective date, strongly reinforcing his confidence in the deal's completion.