Brookfield Wealth Solutions (BNT) Q4 2024 earnings summary

Executive summary

• 2024 results reflect business doubling in size, driven by the acquisition of American Equity Investment Life Holding Company (AEL) and strong annuity and pension risk transfer sales.

• Deployed over $17 billion in investments at strong risk-adjusted returns and closed first U.K. reinsurance transaction covering £1.0 billion in pension liabilities.

Financial highlights

• Net income for 2024 was $1.25 billion, up from $797 million year-over-year; Q4 net income was $576 million, up from $453 million in Q4 2023.

• Distributable operating earnings (DOE) for 2024 reached $1.37 billion, up from $745 million in 2023; Q4 DOE was $427 million, up from $258 million.

• Total assets grew to $140.5 billion at year-end 2024 from $61.6 billion at year-end 2023.

• Adjusted equity increased to $12.87 billion from $8.97 billion year-over-year.

• Quarterly distribution increased by 13% to $0.09 per share, or $0.36 annualized.

Outlook and guidance

• Plans to expand internationally in 2025, leveraging scalable North American annuity platform and investment capabilities.

• Ongoing portfolio rotation into higher-yielding investment strategies supported by $31 billion in cash and short-term liquid investments.