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Is Brighthouse Financial and MetLife the same company?
Brighthouse Financial and MetLife, Inc. are two separate, publicly traded companies. In June 2018, MetLife, Inc. divested all the minority ownership stake in Brighthouse Financial that it retained following the completion of the spin-off.
Who owns Brighthouse life insurance?
MetLife, Inc.About Brighthouse Financial Brighthouse Financial is currently an operating segment of MetLife, Inc. (NYSE: MET), and a leading annuity and life insurance provider in the U.S. with approximately 2.8 million insurance policies and annuity contracts in-force.
Why did MetLife change name to Brighthouse?
In 2017, MetLife, one of the biggest providers of life insurance in the United States, established Brighthouse Financial. The purpose of MetLife establishing Brighthouse Financial was so that the insurance provider could focus solely on selling life insurance, as well as annuities, to individuals.
What companies does MetLife own?
Affiliate information on MetLife.comAmerican Life Insurance CompanyDelaware American Life Insurance CompanyMetLife Health Plans, Inc.MetLife Insurance Brokerage, Inc.MetLife Investment Advisors, LLCMetLife Investments Securities, LLCMetLife Investors Distribution CompanyMetLife Private Equity Holdings, LLC16 more rows
Who bought Brighthouse?
Charter Communications Inc.Charter to Acquire Bright House Networks for $10.4 Billion | Charter Communications Inc.
Who bought MetLife insurance?
Farmers Group, Inc.NEW YORK, April 07, 2021 MetLife, Inc. (NYSE: MET) today announced the completion of its sale of Metropolitan Property and Casualty Insurance Company and certain wholly-owned subsidiaries to Farmers Group, Inc., a subsidiary of Zurich Insurance Group, for a purchase price of $3.94 billion in cash.
Is Brighthouse Financial legitimate?
Both Brighthouse Life Insurance Company and Brighthouse Life Insurance Company of New York have been assigned A (Excellent) financial strength ratings from AM Best. 2 Both also received A+ ratings from Standard & Poor's.
Should I sell my Brighthouse stock?
The consensus among Wall Street equities research analysts is that investors should "hold" Brighthouse Financial stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in BHF, but not buy additional shares or sell existing shares.
What was Brighthouse Financial before?
Separation from MetLife 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.
What does Brighthouse financial do?
Brighthouse Financial, Inc. is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S.,1 we specialize in products designed to help people protect what they've earned and ensure it lasts.
Did Statefarm buy MetLife?
Yes, Farmers Insurance bought MetLife's home and auto insurance business. The purchase was agreed to in December 2020 and finalized in April 2021, but current MetLife customers will see no changes to their policies and will only receive new paperwork with Farmers branding.
What bank does MetLife use?
MetLife, Inc. (NYSE: MET) announced today that it has completed the sale of MetLife Bank, N.A.'s deposit business to GE Capital Retail Bank, FSB, a subsidiary of GE Capital. As a result, approximately $6.4billion in bank deposits have been transferred to GE Capital Retail Bank.
Why did MetLife start Brighthouse Financial?
The purpose of MetLife establishing Brighthouse Financial was so that the insurance provider could focus solely on selling life insurance, as well as annuities, to individuals. MetLife still continues to exist, but they only focus on selling their products to companies that can be used as employee benefits. The insurance policies that are sold ...
What is Brighthouse Financial?
Brighthouse Financial is a new company that was established by MetLife. It is a major provider of life insurance and annuity products, with an estimated worth of $223 billion in assets, and an estimated 2.7 million life insurance policies and annuity contracts currently in force.
Who is the largest shareholder in Brighthouse Financial?
MetLife, however, is the largest shareholder of Brighthouse Financial, as they retain nearly 20 percent of the common stock.
Can you buy life insurance with Brighthouse?
As such, you will be able to continue communicating with him or her about any concerns related to your life insurance policy. If you wish to purchase life insurance from Brighthouse, you will be able to purchase both term life insurance and whole life insurance, as well as variable and universal policies.
Is Brighthouse Financial the same as MetLife?
While Brighthouse Financial is a spin-off of MetLife, the two are not the same. Brighthouse Financial is an independent company, meaning that they operate completely separate from MetLife. However, while Brighthouse Financial is a completely separate entity from MetLife, meaning that MetLife does not have any direct control over Brighthouse ...
When did Brighthouse Financial separate from MetLife?
On August 4, 2017, Brighthouse Financial completed its separation from MetLife and began trading on the Nasdaq stock exchange on August 7, 2017, under the symbol "BHF.". Upon completion of the separation, MetLife retained a 19.2% stake in the company. In 2018, MetLife divested its remaining interest through a debt-for-equity exchange ...
What is Brighthouse Financial?
Brighthouse Financial, Inc. ( Nasdaq : BHF) is one of the largest providers of annuities and life insurance in the U.S., with $219 billion in total assets and approximately 2.6 million insurance policies and annuity contracts in-force (as of March 31, 2018).
Where is MetLife located?
Headquartered in Charlotte, North Carolina, the company began selling annuity and life insurance under the Brighthouse Financial brand on March 6, 2017.
Is MetLife a separate company?
Separation from MetLife. 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.
Does MetLife have a forward-looking statement?
MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if MetLife, Inc. later become aware that such statement is not likely to be achieved. Please consult any further disclosures MetLife, Inc. makes on related subjects in reports to the SEC .
Is MetLife a publicly traded company?
NEW YORK -- (BUSINESS WIRE)--Aug. 7, 2017-- MetLife, Inc. (NYSE: MET) today announced it has completed the spin-off of Brighthouse Financial, Inc. (NASDAQ: BHF), creating two independent, publicly-traded companies. Today marks the first day of post-separation trading for each company’s common stock on its respective stock exchange.
What is Brighthouse Financial's number in the Fortune 500?
Brighthouse Financial is proud to be included at number 353 on the 2021 Fortune 500 list, which is based on total revenues.
What is Brighthouse Financial?
Account that holds assets maintained separately from general account investments. By maintaining capital well beyond regulatory requirements, Brighthouse Financial is prepared to honor its commitments, even in volatile markets.
What is the insurance product guarantee?
Insurance product guarantees and commitments, including any optional benefits, are solely the responsibility of the insurance company issuing the insurance product. Financial data as of December 31, 2020, except customer count, which is as of June 30, 2020, rounded to the nearest $1 billion.
What is financial strength rating?
A Financial Strength Rating is not a recommendation to purchase, hold, or terminate any insurance policy, contract or any other financial obligation issued by an insurer, nor does it address the suitability of any particular policy or contract, for a specific purpose or purchaser.
Who distributes variable products?
Variable products are distributed through Brighthouse Securities, LLC (member FINRA). Product guarantees, including any optional benefits, are subject to the claims-paying ability and financial strength of the issuing insurance company.
Is an insurance company responsible for its own financial condition?
All guarantees and commitments, including any optional benefits, are subject to the claims-paying ability and financial strength of the issuing insurance company. Each issuing insurance company is solely responsible for its own financial condition and contractual obligations.
Is Fortune 500 a trademark?
FORTUNE and FORTUNE 500 are registered trademarks of Fortune Media IP Limited and are used under license. FORTUNE and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of, Brighthouse Financial. Ranked by 2018 admitted assets.
How much of Brighthouse does MetLife own?
According to the company’s information statement, following the separation, MetLife will retain no more than 19.9% of Brighthouse. Based on that and MetLife‘s outstanding shares, the company estimates that approximately 122,723,993 shares of Brighthouse will be issued, of which MetLife will own 24,422,074 shares.
When will MetLife shareholders receive Brighthouse Financial?
We believe our valuation analysis could serve as a good starting point for MetLife’s shareholders, who will receive Brighthouse Financial’s shares on August 4. Notably, MetLife has already launched a “when-issued” market in the shares under the symbol BHFWV.
When will Brighthouse be distributed?
The shares of Brighthouse will be distributed on August 4 while regular trading is expected to start on August 7 under the ticker BHF. MetLife’s shareholders are not required to take any action to participate in the distribution. To estimate Brighthouse’s implied market valuation, we are using a P/B-RoE approach.
Does Brighthouse Financial have senior unsecured bonds?
It is important to note that Brighthouse Financial has recently issued $3bn of senior unsecured bonds. According to Fitch Ratings, the proceeds from the debt issuance will be used to pay a dividend to MetLife. As such, MetLife’s net investment in its retail unit should be adjusted for the debt offering.
Is MetLife separating Brighthouse?
The separation has been widely viewed as a long-term catalyst for MetLife as it should enhance the company’s profitability levels and lower its cost of capital. On October 5, MetLife officially confirmed its plans to initiate the separation of Brighthouse in the form of a spin-off.
Is MetLife going to break up?
Last year, MetLife (NYSE: MET) announced a plan to break up the company, mainly driven by strategic and regulatory reasons. The company said that it would re-brand its US retail business as Brighthouse Financial.
What is Brighthouse Financial?
(“Brighthouse Financial”) is one of the largest providers of annuities and life insurance in the United States through multiple independent distribution channels and marketing arrangements with a diverse network of distribution partners.
What is Brighthouse Financial's stock symbol?
Brighthouse Financial, Inc. common stock is traded on the Nasdaq Stock Market under the symbol "BHF". In addition, the following Brighthouse Financial securities are also traded on the Nasdaq Stock Market:
Is Brighthouse Financial a part of MetLife?
Until August 4, 2017, Brighthouse Financial was a wholly-owned subsidiary of MetLife, Inc. Additional details regarding the separation from MetLife, Inc., including the tax treatment of separation can be found in Brighthouse Financial's final Information Statement or on MetLife’s Investor Relations website.
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