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Condensed Financial Information (Parent Company)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only
Brighthouse Life Insurance Company
(An Indirect Wholly-Owned Subsidiary of Brighthouse Financial, Inc.)
Schedule II
Condensed Financial Information
(Parent Company Only)
December 31, 2025 and 2024
(In millions, except share and per share data)
2025
2024
Condensed Balance Sheets
Assets
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $71,076 and $72,741, respectively; allowance for credit losses of $61 and $78, respectively)
$
67,301 
$
66,860 
Trading securities, at estimated fair value506 — 
Equity securities, at estimated fair value
18 
27 
Mortgage loans (net of allowance for credit losses of $191 and $172, respectively)
21,584 
22,089 
Policy loans
1,047 
1,625 
Limited partnerships and limited liability companies
4,105 
4,288 
Short-term investments, principally at estimated fair value
339 
1,120 
Investment in subsidiaries
2,422 
2,046 
Other invested assets, principally at estimated fair value
14,030 
10,387 
Total investments
111,352 
108,442 
Cash and cash equivalents
4,439 
3,856 
Accrued investment income
1,112 
1,139 
Premiums, reinsurance and other receivables (net of allowance for credit losses of $3 and $3, respectively)
20,754 
20,298 
Receivable from subsidiaries
11,039 
11,558 
Deferred policy acquisition costs and value of business acquired
3,973 
3,958 
Current income tax recoverable
83 
26 
Deferred income tax receivable
2,923 
3,299 
Market risk benefits assets
963 
993 
Other assets
263 
293 
Separate account assets
74,767 
74,966 
Total assets
$
231,668 
$
228,828 
Liabilities and Stockholder's Equity
Liabilities
Future policy benefits
$
31,389 
$
31,126 
Policyholder account balances
85,958 
85,968 
Market risk benefits liabilities
7,937 
8,181 
Other policy-related balances
3,753 
3,827 
Payables for collateral under securities loaned and other transactions
4,642 
3,762 
Long-term debt812 812 
Other liabilities
14,327 
14,053 
Separate account liabilities
74,767 
74,966 
Total liabilities
223,585 
222,695 
Stockholder's Equity
Common stock, par value $25,000 per share; 4,000 shares authorized; 3,000 shares issued and outstanding
75 
75 
Additional paid-in capital
17,607 
17,507 
Retained earnings (deficit)
(5,997)
(6,286)
Accumulated other comprehensive income (loss)
(3,602)
(5,163)
Total stockholder's equity
8,083 
6,133 
Total liabilities and stockholder's equity
$
231,668 
$
228,828 
See accompanying notes to the condensed financial information.
Brighthouse Life Insurance Company
(An Indirect Wholly-Owned Subsidiary of Brighthouse Financial, Inc.)
Schedule II
Condensed Financial Information (continued)
(Parent Company Only)
For the Years Ended December 31, 2025, 2024 and 2023
(In millions)
2025
2024
2023
Condensed Statements of Operations
Revenues
Premiums
$
527 
$
577 
$
599 
Universal life and investment-type product policy fees
1,487 
1,378 
1,527 
Net investment income
4,410 
4,431 
3,992 
Other revenues
768 
755 
519 
Net investment gains (losses)
(151)
(287)
(234)
Net derivative gains (losses)
(1,598)
(3,066)
(3,616)
Total revenues
5,443 
3,788 
2,787 
Expenses
Policyholder benefits and claims (including remeasurement gains (losses) of ($53), ($366), ($137), respectively)
1,525 
1,635 
1,692 
Interest credited to policyholder account balances
2,054 
1,989 
1,641 
Amortization of deferred policy acquisition costs and value of business acquired
505 
485 
499 
Change in market risk benefits
(252)
(2,665)
(1,494)
Other expenses
1,846 
1,886 
1,817 
Total expenses
5,678 
3,330 
4,155 
Income (loss) before provision for income tax and equity in earnings (losses) of subsidiaries
(235)
458 
(1,368)
Provision for income tax expense (benefit)
(111)
41 
(347)
Income (loss) before equity in earnings (losses) of subsidiaries
(124)
417 
(1,021)
Equity in earnings (losses) of subsidiaries
413 
(161)
(103)
Net income (loss) attributable to Brighthouse Life Insurance Company
$
289 
$
256 
$
(1,124)
Comprehensive income (loss)
$
1,850 
$
207 
$
(307)
See accompanying notes to the condensed financial information.
Brighthouse Life Insurance Company
(An Indirect Wholly-Owned Subsidiary of Brighthouse Financial, Inc.)
Schedule II
Condensed Financial Information (continued)
(Parent Company Only)
For the Years Ended December 31, 2025, 2024 and 2023
(In millions)
2025
2024
2023
Condensed Statements of Cash Flows
Net cash provided by (used in) operating activities
$
451 
$
240 
$
238 
Cash flows from investing activities
Sales, maturities and repayments of:
Fixed maturity securities
11,304 
10,717 
5,561 
Trading securities
44 
— 
— 
Equity securities
17 
25 
18 
Mortgage loans
2,499 
1,441 
1,180 
Limited partnerships and limited liability companies
484 
325 
197 
Purchases of:
Fixed maturity securities
(9,820)
(10,280)
(7,587)
Trading securities
(199)
— 
— 
Equity securities
(2)
(2)
(3)
Mortgage loans
(2,141)
(2,347)
(775)
Limited partnerships and limited liability companies
(275)
(293)
(449)
Cash received in connection with freestanding derivatives
16,754 
12,416 
4,505 
Cash paid in connection with freestanding derivatives
(18,208)
(11,794)
(5,207)
Receipts on loans to affiliate
— 
— 
125 
Returns of capital and dividends from subsidiaries
79 
19 
25 
Net change in policy loans
578 
(688)
(40)
Net change in short-term investments
797 
(523)
(261)
Net change in other invested assets
(922)
(1,380)
(4,530)
Net cash provided by (used in) investing activities
989 
(2,364)
(7,241)
Cash flows from financing activities
Policyholder account balances:
Deposits
19,415 
29,602 
24,917 
Withdrawals
(20,793)
(26,235)
(17,305)
Net change in payables for collateral under securities loaned and other transactions
880 
146 
(737)
Dividends paid to parent
— 
— 
(266)
Capital contributions
100 
— 
— 
Financing element on certain derivative instruments and other derivative related transactions, net
(459)
(215)
(26)
Net cash provided by (used in) financing activities
(857)
3,298 
6,583 
Change in cash, cash equivalents and restricted cash
583 
1,174 
(420)
Cash, cash equivalents and restricted cash, beginning of year
3,856 
2,682 
3,102 
Cash, cash equivalents and restricted cash, end of year
$
4,439 
$
3,856 
$
2,682 
Supplemental disclosures of cash flow information
Net cash paid (received) for:
Interest
$
65 
$
65 
$
65 
Income tax
$
(10)
$
1 
$
(20)
Non-cash transactions:
Transfer of fixed maturity securities from affiliates
$
99 
$
— 
$
103 
Transfer of fixed maturity securities to affiliates
$
48 
$
126 
$
234 
Transfer of mortgage loans to affiliates
$
43 
$
— 
$
— 
See accompanying notes to the condensed financial information.
Brighthouse Life Insurance Company
(An Indirect Wholly-Owned Subsidiary of Brighthouse Financial, Inc.)
Schedule II
Notes to the Condensed Financial Information
(Parent Company Only)
1. Basis of Presentation
The condensed financial information of Brighthouse Life Insurance Company (the “Parent Company”) should be read in conjunction with the consolidated financial statements of Brighthouse Life Insurance Company and its subsidiaries and the notes thereto (the “Consolidated Financial Statements”). These condensed unconsolidated financial statements reflect the results of operations, financial position and cash flows for the Parent Company. Investments in subsidiaries are accounted for using the equity method of accounting.
The preparation of these condensed unconsolidated financial statements in conformity with GAAP requires management to adopt accounting policies and make certain estimates and assumptions. The most important of these estimates and assumptions relate to the fair value measurements, identifiable intangible assets and the provision for potential losses that may arise from litigation and regulatory proceedings and tax audits, which may affect the amounts reported in the condensed unconsolidated financial statements and accompanying notes. Actual results could differ from these estimates.
2. Investment in Subsidiaries
During the year ended December 31, 2025, Brighthouse Life Insurance Company received a cash capital contribution of $100 million from Brighthouse Holdings, LLC. During the year ended December 31, 2023, Brighthouse Life Insurance Company paid a non-cash capital contribution of $100 million to Brighthouse Life Insurance Company of NY.