Brookfield Wealth Solutions (BNT) Q1 2025 earnings summary

Executive summary

• Achieved strong start to 2025 with entry into U.K. market and launch of new pension risk transfer business under Blumont Annuity UK.

• Deployed $3 billion into Brookfield-originated strategies at returns above 8% and completed $500 million FABN issuance.

• Originated $4 billion in annuity sales across retail, PRT, and FABN channels; property and casualty float stable at $8 billion.

Financial highlights

• Distributable operating earnings rose to $437 million for Q1 2025 from $279 million year-over-year.

• Net loss of $282 million for Q1 2025, compared to net income of $337 million in Q1 2024, driven by unrealized reserve movements due to interest rate and equity market changes.

• Net investment income increased to $1,429 million from $670 million year-over-year.

• Total assets reached $141.6 billion as of March 31, 2025, up from $139.95 billion at year-end.

• Quarterly distribution of $0.09 per class A and B share declared, payable June 30, 2025.

Outlook and guidance

• Management expects to be active in the U.K. pension risk transfer market in 2025 and continues to focus on redeploying capital into higher-yielding investments.

• Forward-looking statements highlight plans for international expansion, capital markets initiatives, and growth in investment opportunities.