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Brighthouse Sees Strong Annuity Sales, But Expects Decline In 2021
While Brighthouse Financial fixed annuity sales were great in the fourth quarter, the company does not expect that to continue into 2021, said Conor Murphy, executive vice president and chief operating officer.
Fixed annuities represent a small share of the Brighthouse annuity line, but was a recent bright spot for sales. However, rates decreased from about 1.5% to around 1% in the fourth quarter, Murphy said. We don t expect the market will be as hot necessarily [in 2021], he explained. The rate decreases will impact that as well.
Brighthouse s core annuity product is its Shield index annuities, which make up the largest portion of product sales. Executives hinted at new features on the Shield line by mid-summer.
Operator
Good morning, ladies and gentlemen, and welcome to Brighthouse Financial s Fourth Quarter 2020 Earnings Conference Call. My name is Josh and I will be your coordinator today. [Operator Instructions]
I would now like to turn the presentation over to David Rosenbaum, Head of Investor Relations. Mr. Rosenbaum, you may proceed.
David Rosenbaum
Head of Investor Relations
Good morning, and thank you for joining Brighthouse Financial s fourth quarter and full year 2020 earnings call. Our earnings release, slide presentation and financial supplement were released last night and can be accessed on the Investor Relations section of our website at brighthousefinancial.com. We encourage you to review all of these materials.