Brighthouse Financial

Brighthouse Financial, Inc. is a United States insurance company headquartered in Charlotte, North Carolina. Its principal business is the sale and administration of life insurance and annuity products for American consumers. The company was created as a standalone insurer through the separation of a substantial portion of MetLife’s U.S. retail life-insurance and annuity operations, and it adopted the Brighthouse Financial name during the separation process. Although Brighthouse Financial was established as a new public company in 2017, its operating foundations reach further back. The businesses that contributed to the company included insurance operations associated with Travelers, whose history in life insurance dates to 1923 and in annuities to 1938, as well as businesses later acquired by MetLife. MetLife purchased New England Life Insurance Company in 1996, Security First Group, Inc. in 1997, and Travelers Life in 2005. These predecessor organizations supplied much of the insurance infrastructure and policy base that became part of Brighthouse Financial. MetLife announced in January 2016 that it intended to separate much of its U.S. retail life-insurance and annuity business. The assets selected for the new enterprise included Brighthouse Life Insurance Company, formerly MetLife Insurance Company USA; Brighthouse Life Insurance Company of New York, formerly First MetLife Investors Insurance Company; and New England Life Insurance Company. In July 2016, MetLife announced that the new business would be branded Brighthouse Financial. The brand began selling life-insurance and annuity products on March 6, 2017. The legal and corporate separation from MetLife was completed on August 4, 2017. Brighthouse Financial began trading on the Nasdaq Stock Market on August 7, 2017, under the ticker symbol BHF. MetLife initially retained a 19.2 percent interest. In 2018, MetLife disposed of its remaining interest through a debt-for-equity exchange involving four financial institutions that held MetLife debt, completing the practical separation of the two companies’ ownership interests. Brighthouse Financial’s offerings are distributed through multiple independent channels rather than being limited to a single proprietary sales network. Its portfolio centers on annuities, which can provide retirement income or other long-term financial benefits, and life insurance, which can provide death-benefit protection and related financial-planning uses. Policy and contract servicing has been performed by DXC Technology as a third-party provider, rather than entirely through Brighthouse Financial’s own direct servicing infrastructure. By March 2018, the company was described as one of the larger providers of annuities and life insurance in the United States. At that time it reported approximately $219 billion in total assets and about 2.6 million insurance policies and annuity contracts in force. Those figures reflect the scale inherited from the predecessor businesses and should not be treated as current figures without a newer dated source. Brighthouse Financial is therefore best understood as a focused U.S. insurance company formed through a large-scale corporate separation, rather than as a diversified global financial-services conglomerate. Its identity is built around retirement-oriented annuity solutions and life-insurance protection, with products reaching consumers through independent distribution relationships. In November 2025, Aquarian Holdings was reported to have agreed to acquire Brighthouse Financial in an all-cash transaction valued at $4.1 billion; the available reference material does not establish whether that proposed transaction was completed.

Brighthouse Financial was formed from insurance businesses developed through the histories of Travelers and MetLife. Travelers began selling life insurance in 1923 and annuities in 1938. MetLife later expanded its relevant operations through the acquisition of New England Life Insurance Company in 1996, Security First Group, Inc. in 1997, and Travelers Life in 2005. The company’s direct origin lies in MetLife’s 2016 decision to separate a substantial portion of its U.S. retail life-insurance and annuity segment. The entities identified for separation included MetLife Insurance Company USA, which was renamed Brighthouse Life Insurance Company; First MetLife Investors Insurance Company, which became Brighthouse Life Insurance Company of New York; and New England Life Insurance Company. The transaction was designed to create a distinct insurance company focused on U.S. retail customers rather than leave these activities inside MetLife’s broader corporate structure. MetLife announced the Brighthouse Financial name on July 21, 2016. The business began selling life insurance and annuities under that name on March 6, 2017. The legal separation was completed on August 4, 2017, and the new company began trading publicly on Nasdaq on August 7 under the ticker BHF. MetLife retained a 19.2 percent stake immediately after the separation, but disposed of its remaining interest in 2018 through a debt-for-equity exchange with four financial institutions holding MetLife debt. Brighthouse Financial’s business is concentrated in two principal categories: annuities and life insurance. It sells to U.S. consumers through multiple independent distribution channels. Its products and contracts are serviced by DXC Technology as a third-party provider, a structure that distinguishes product distribution and customer administration from the company’s own corporate operations. The company had substantial scale soon after its creation. Reference material describing the business as of March 2018 reported approximately $219 billion in total assets and roughly 2.6 million insurance policies and annuity contracts in force. The same material characterized Brighthouse Financial as one of the largest U.S. providers in its categories at that time. In 2018, the company also reported profits exceeding $1.4 billion and was cited among large corporations whose effective federal tax rate was zero percent or less following the U.S. Tax Cuts and Jobs Act of 2017. That tax information is a historical point and does not represent a current tax rate. In November 2025, Aquarian Holdings was reported to have agreed to acquire Brighthouse Financial for $4.1 billion in cash. The available material does not specify whether the agreement closed, so the transaction should be treated as announced rather than completed. Brighthouse Financial’s documented development is consequently a progression from inherited insurance operations, through a MetLife separation and public listing, to a specialized U.S. insurer centered on life insurance and annuity products.

1. 2025Aquarian Holdings acquisition agreement reported

   Aquarian Holdings was reported to have agreed to acquire Brighthouse Financial in a $4.1 billion all-cash transaction; completion is not established by the available reference.

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2. 2018MetLife disposes of its remaining stake

   MetLife exited its remaining ownership interest through a debt-for-equity exchange with four financial institutions.

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3. 2017Brighthouse begins selling under its new brand

   The company began selling annuity and life-insurance products under the Brighthouse Financial brand on March 6.

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4. 2017Corporate separation and public listing

   Brighthouse Financial completed its separation from MetLife on August 4 and began Nasdaq trading under BHF on August 7.

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5. 2016MetLife announces the planned separation

   MetLife announced its intention to separate a substantial portion of its U.S. retail life-insurance and annuity operations.

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6. 2016Brighthouse Financial name announced

   MetLife announced that the separated insurance business would operate under the Brighthouse Financial name.

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7. 2005MetLife acquires Travelers Life

   The acquisition brought Travelers Life into MetLife and linked Travelers’ life-insurance history to the business eventually separated as Brighthouse Financial.

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8. 1997MetLife acquires Security First Group

   MetLife acquired annuity company Security First Group, Inc., adding to the historical predecessor operations associated with the later Brighthouse business.

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9. 1996MetLife acquires New England Life Insurance Company

   MetLife acquired New England Life Insurance Company, which later became part of the business separated into Brighthouse Financial.

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10. 1938Travelers enters the annuity business

    Travelers began selling annuities, establishing an early part of the predecessor-business history behind Brighthouse Financial.

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11. 1923Travelers begins selling life insurance

    One of the historical predecessor businesses associated with Brighthouse Financial began selling life insurance.

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A focused U.S. insurer serving consumers seeking life-insurance protection and annuity-based retirement or income solutions, distributed through independent channels.

• AnnuitiesRetirement and income products

  Brighthouse Financial’s annuity business provides contracts designed for long-term financial planning and retirement-income needs. The company sells annuities to U.S. consumers through multiple independent distribution channels. The available reference does not identify specific current contract names or detailed product terms, so this entry describes the category rather than individual variants.

• Life insuranceInsurance protection

  Life-insurance products are a core Brighthouse Financial offering and provide insurance protection for U.S. consumers. The business inherited several life-insurance operations from MetLife and its predecessors during the 2017 separation. The available reference does not provide enough detail to identify specific current policies, benefit structures, or product-generation dates.

• 2025Agree to proposed acquisition by Aquarian HoldingsM&A

  Brighthouse Financial was reported to have become the subject of an acquisition agreement with New York-based private-equity firm Aquarian Holdings.

  What changed. Aquarian Holdings agreed to acquire the company in an all-cash transaction reportedly valued at $4.1 billion.

  Aftermath. The available reference does not confirm whether the transaction closed or whether the company ceased to be publicly listed.

  Reported transaction value. $4.1 billion (November 2025 announced acquisition agreement)

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• 2018Eliminate MetLife’s remaining ownership interestM&A

  MetLife retained a 19.2 percent interest after the original separation.

  What changed. MetLife divested its remaining interest through a debt-for-equity exchange with four financial institutions holding MetLife debt.

  Aftermath. The transaction completed MetLife’s exit from direct ownership of Brighthouse Financial.

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• 2017Complete the MetLife separation and establish a public companyStrategy

  The newly branded insurance operations needed to become a legally and financially distinct enterprise.

  What changed. Brighthouse Financial completed the separation from MetLife and listed its shares on Nasdaq under BHF.

  Aftermath. MetLife initially retained a minority stake, while Brighthouse Financial operated as a separate publicly traded insurer.

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• 2016Separate the U.S. retail life and annuity businessStrategy

  MetLife decided to separate a substantial portion of its U.S. retail life-insurance and annuity operations into a new company.

  What changed. MetLife identified several insurance entities for separation and prepared them to operate under the Brighthouse Financial identity.

  Aftermath. The plan led to the creation of an independent insurance company, the launch of the Brighthouse brand, and a subsequent public listing.

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• 2025Aquarian Holdings agrees to acquire Brighthouse Financial

  New York-based private-equity firm Aquarian Holdings was reported to have agreed to acquire Brighthouse Financial in an all-cash transaction valued at $4.1 billion. The available reference does not confirm completion of the transaction.

  M&A
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• 2018MetLife exits its remaining Brighthouse Financial ownership interest

  MetLife divested its remaining interest in Brighthouse Financial through a debt-for-equity exchange involving four financial institutions that held MetLife debt.

  M&A
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• 2017Brighthouse Financial brand begins selling insurance products

  The newly named Brighthouse Financial business began selling annuity and life-insurance products under the Brighthouse brand.

  Product launch
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• 2017Brighthouse Financial completes separation from MetLife and lists on Nasdaq

  The separation from MetLife was completed on August 4, and Brighthouse Financial began trading on Nasdaq under the symbol BHF on August 7.

  M&ALeadership change
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• 2016MetLife announces separation of U.S. retail life and annuity business

  MetLife announced plans to separate a substantial portion of its U.S. retail life-insurance and annuity operations into a new independent enterprise that would later become Brighthouse Financial.

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1. Brighthouse Financial
2. Brighthouse Financial official website