Top US Annuity Companies Report Strong 3Q Earnings

Top US Annuity Companies Report Strong 3Q Earnings

Top U.S. individual life and annuity companies reported strong sales in the third quarter.

Brighthouse Financial said in a news release annuity sales increased eight percent, driven by sales of Shield annuities, which increased 67 percent quarter-over-quarter.

Overall, Brighthouse reported a third quarter net loss of $943 million, compared to a net loss of $158 million in the third quarter of 2016. Brighthouse said the net loss includes a $1,073 million non-cash tax expense triggered prior to its separation from MetLife.

Prudential Financial said individual annuity adjusted operating income earnings fell $11 million to $577 million as compared to third quarter 2016, but Prudential said excluding adjustments, profits increased $80 million from third quarter 2016.

Overall, the company said its net income was $2.2 billion for third quarter 2017, as compared to $1.8 billion for third quarter 201

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