{"id":404853,"date":"2020-12-22T16:57:32","date_gmt":"2020-12-22T21:57:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404853"},"modified":"2020-12-22T16:57:32","modified_gmt":"2020-12-22T21:57:32","slug":"am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/","title":{"rendered":"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries<\/b><\/p>\n<p>OLDWICK, N.J.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>AM Best <\/b>has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of \u201ca+\u201d of Brighthouse Life Insurance Company (headquartered in Charlotte, NC), the largest operating entity for the Brighthouse group of companies, New England Life Insurance Company (Boston, MA) and Brighthouse Life Insurance Company of NY (New York, NY). These entities collectively are referred to as Brighthouse and are operating insurance subsidiaries of Brighthouse Financial, Inc. (Brighthouse Financial) (headquartered in Charlotte, NC) [NASDAQ: BHF]. The outlook of these Credit Ratings (rating) is stable.\n<\/p>\n<p>\nConcurrently, AM Best has affirmed the Long-Term ICR of \u201cbbb+\u201d and the Long-Term Issue Credit Ratings (Long-Term IR) of Brighthouse Financial. Additionally, AM Best has affirmed the Long-Term ICR of \u201cbbb+\u201d and the Long-Term IR of Brighthouse Holdings, LLC, Brighthouse Financial\u2019s intermediate holding company. The outlook of these ratings is stable. (See below for a detailed listing of the Long-Term IRs.)\n<\/p>\n<p>\nThe ratings reflect Brighthouse\u2019s balance sheet strength, which AM Best categorizes as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).\n<\/p>\n<p>\nBrighthouse has a very strong level of risk-adjusted capitalization, as measured by Best\u2019s Capital Adequacy Ratio (BCAR). Absolute capital has been decreasing on a GAAP and a statutory basis, and there continues to be uncertainties within legacy liabilities. However, there is also good liquidity and available cash within the Brighthouse organization.\n<\/p>\n<p>\nBrighthouse has maintained good operating profitability on a statutory, GAAP and adjusted earnings basis despite some earnings volatility. Brighthouse recently announced that it lowered its U.S. GAAP long-term mean reversion interest rate assumption by 75 basis points to 3.0%, which affected GAAP equity negatively. While overall premiums have been impacted negatively by Brighthouse\u2019s run-off blocks of legacy life and annuity business, the company\u2019s flagship Shield Annuity product line has grown meaningfully over the past several years and Brighthouse has become a major participant in the registered index-linked annuities marketplace. It has also entered in the long-term care and life insurance combination space with Brighthouse SmartCare. Continued improvement in the company\u2019s brand, product and geographic diversification, as well as its ability to secure a strategic alliance with BlackRock to provide simplified access to lifetime income are all positive rating factors warranting the favorable business profile.\n<\/p>\n<p>\nPartially offsetting these positive rating factors is the continued high level of exposure to interest rate and equity market sensitivities. However, Brighthouse\u2019s ERM program is well-developed and designed to assess and manage exposures on a consolidated, company-wide basis. AM Best acknowledges that the economic risks associated with interest rate and equity market movements are well-hedged in many stress scenarios.\n<\/p>\n<p>\nThe following Long-Term IRs have been affirmed with stable outlooks:\n<\/p>\n<p>\nBrighthouse Financial, Inc.\n<\/p>\n<p>\n&#8212; \u201cbbb+\u201d on $1.5 billion 3.7% senior unsecured notes due 2027 ($1.3 billion outstanding)\n<\/p>\n<p>\n&#8212; \u201cbbb+\u201d on $615 million 5.625% senior unsecured notes due 2030\n<\/p>\n<p>\n&#8212; \u201cbbb+\u201d on $1.5 billion 4.7% senior unsecured notes due 2047 ($1.15 billion outstanding)\n<\/p>\n<p>\n&#8212; \u201cbbb-\u201d on $375 million 6.25% junior subordinated debentures due 2058\n<\/p>\n<p>\n&#8212; \u201cbbb-\u201d on $425 million 6.6% non-cumulative preferred stock, Series A\n<\/p>\n<p>\n&#8212; \u201cbbb-\u201d on $402.5 million 6.75% non-cumulative preferred stock, Series B\n<\/p>\n<p>\n&#8212; \u201cbbb-\u201d on $575 million 5.375% non-cumulative preferred stock, Series C\n<\/p>\n<p>\nBrighthouse Holdings, LLC\n<\/p>\n<p>\n&#8212; \u201cbbb-\u201d on $50 million fixed rate cumulative preferred units, Series A\n<\/p>\n<p>\nThe following Long-Term IR has been affirmed with a stable outlook:\n<\/p>\n<p>\nBrighthouse Financial Institutional Funding I, LLC\u2014\u201ca+\u201d program rating\n<\/p>\n<p>\n&#8212; \u201ca+\u201d rating on the notes issued hereunder\n<\/p>\n<p>\nThe following indicative Long-Term IRs have been affirmed with stable outlooks:\n<\/p>\n<p>\nBrighthouse Financial, Inc.\n<\/p>\n<p>\n&#8212; \u201cbbb+\u201d on senior unsecured debt\n<\/p>\n<p>\n&#8212; \u201cbbb\u201d on subordinated debt\n<\/p>\n<p>\n&#8212; \u201cbbb-\u201d on preferred stock\n<\/p>\n<p>\n&#8212; \u201cbbb-\u201d on junior subordinated debt\n<\/p>\n<p><b>This press release relates to Credit Ratings that have been published on AM Best\u2019s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best\u2019s <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fratings.ambest.com%2Fratingeventdisclosures.aspx&amp;esheet=52352955&amp;newsitemid=20201222005694&amp;lan=en-US&amp;anchor=Recent+Rating+Activity&amp;index=1&amp;md5=d58181f43575c2771e115d80445c15b1\">Recent Rating Activity<\/a> web page. For additional information regarding the use and limitations of Credit Rating opinions, please view <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww3.ambest.com%2Fambv%2Fratingmethodology%2FOpenPDF.aspx%3Fri%3D1320&amp;esheet=52352955&amp;newsitemid=20201222005694&amp;lan=en-US&amp;anchor=Guide+to+Best%26%238217%3Bs+Credit+Ratings&amp;index=2&amp;md5=d312900053aff332df96cf2adb29e9a0\">Guide to Best\u2019s Credit Ratings<\/a>. For information on the proper media use of Best\u2019s Credit Ratings and AM Best press releases, please view <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ambest.com%2Fabout%2FMediaGuide-BestsCreditRatingsProperUse.pdf&amp;esheet=52352955&amp;newsitemid=20201222005694&amp;lan=en-US&amp;anchor=Guide+for+Media+-+Proper+Use+of+Best%26%238217%3Bs+Credit+Ratings+and+AM+Best+Rating+Action+Press+Releases&amp;index=3&amp;md5=5a3d60aeda729f843211271253e770d5\">Guide for Media &#8211; Proper Use of Best\u2019s Credit Ratings and AM Best Rating Action Press Releases<\/a>.<\/b><\/p>\n<p><b>AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ambest.com%2F&amp;esheet=52352955&amp;newsitemid=20201222005694&amp;lan=en-US&amp;anchor=www.ambest.com&amp;index=4&amp;md5=87ab5bf100917d5a722d316b7fd337bf\">www.ambest.com<\/a>.<\/b><\/p>\n<p class=\"bwalignc\"><b>Copyright \u00a9 2020 by A.M. Best Rating Services, Inc. and\/or its affiliates. ALL RIGHTS RESERVED.<\/b><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005694r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201222005694\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201222005694\/en\/<\/a><\/span><\/p>\n<p><b>Bruno Caron<br \/>\n<\/b><br \/><b>Associate Director<br \/>\n<\/b><br \/><b>+1 908 439 2200, ext. 5144<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:bruno.caron@ambest.com\">bruno.caron@ambest.com<br \/>\n<\/a><\/p>\n<p><b>Michael Porcelli<br \/>\n<\/b><br \/><b>Director<br \/>\n<\/b><br \/><b>+1 908 439 2200, ext. 5548<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:michael.porcelli@ambest.com\">michael.porcelli@ambest.com<br \/>\n<\/a><\/p>\n<p><b>Christopher Sharkey<br \/>\n<\/b><br \/><b>Manager, Public Relations<br \/>\n<\/b><br \/><b>+1 908 439 2200, ext. 5159<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:christopher.sharkey@ambest.com\">christopher.sharkey@ambest.com<br \/>\n<\/a><\/p>\n<p><b>Jim Peavy<br \/>\n<\/b><br \/><b>Director, Communications<br \/>\n<\/b><br \/><b>+1 908 439 2200, ext. 5644<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:james.peavy@ambest.com\"><span style=\"font-weight:normal\">james.peavy@ambest.com<\/span><\/a><\/p>\n<p><b>KEYWORDS:<\/b> Europe United States North America New Jersey<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Insurance Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201222005694\/en\/828829\/3\/AM_Best_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of \u201ca+\u201d of Brighthouse Life Insurance Company (headquartered in Charlotte, NC), the largest operating entity for the Brighthouse group of companies, New England Life Insurance Company (Boston, MA) and Brighthouse Life Insurance Company of NY (New York, NY). These entities collectively are referred to as Brighthouse and are operating insurance subsidiaries of Brighthouse Financial, Inc. (Brighthouse Financial) (headquartered in Charlotte, NC) [NASDAQ: BHF]. The outlook of these Credit Ratings (rating) is stable. Concurrently, AM Best has affirmed the Long-Term ICR of \u201cbbb+\u201d and the Long-Term Issue &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404853","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of \u201ca+\u201d of Brighthouse Life Insurance Company (headquartered in Charlotte, NC), the largest operating entity for the Brighthouse group of companies, New England Life Insurance Company (Boston, MA) and Brighthouse Life Insurance Company of NY (New York, NY). These entities collectively are referred to as Brighthouse and are operating insurance subsidiaries of Brighthouse Financial, Inc. (Brighthouse Financial) (headquartered in Charlotte, NC) [NASDAQ: BHF]. The outlook of these Credit Ratings (rating) is stable. Concurrently, AM Best has affirmed the Long-Term ICR of \u201cbbb+\u201d and the Long-Term Issue &hellip; Continue reading &quot;AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-22T21:57:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005694r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries\",\"datePublished\":\"2020-12-22T21:57:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\\\/\"},\"wordCount\":870,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20201222005694r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\\\/\",\"name\":\"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/","og_locale":"en_US","og_type":"article","og_title":"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries - Market Newsdesk","og_description":"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries OLDWICK, N.J.&#8211;(BUSINESS WIRE)&#8211;AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of \u201ca+\u201d of Brighthouse Life Insurance Company (headquartered in Charlotte, NC), the largest operating entity for the Brighthouse group of companies, New England Life Insurance Company (Boston, MA) and Brighthouse Life Insurance Company of NY (New York, NY). These entities collectively are referred to as Brighthouse and are operating insurance subsidiaries of Brighthouse Financial, Inc. (Brighthouse Financial) (headquartered in Charlotte, NC) [NASDAQ: BHF]. The outlook of these Credit Ratings (rating) is stable. Concurrently, AM Best has affirmed the Long-Term ICR of \u201cbbb+\u201d and the Long-Term Issue &hellip; Continue reading \"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-22T21:57:32+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005694r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries","datePublished":"2020-12-22T21:57:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/"},"wordCount":870,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005694r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/am-best-affirms-credit-ratings-of-brighthouse-financial-inc-and-its-subsidiaries\/","name":"AM Best Affirms Credit Ratings of Brighthouse Financial, Inc. and Its Subsidiaries - 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