Brookfield Wealth Solutions Announces Second Quarter Results and Three-for-Two Stock Split

Executive Summary

• Brookfield Wealth Solutions reported strong Q2 2025 financial results, with distributable operating earnings (DOE) increasing to $398 million (up from $298 million in Q2 2024) and net income rising to $516 million (up from $269 million).
• The company announced the acquisition of Just Group plc, a UK-based retirement specialist, for GBP 2.4 billion ($3.2 billion) in an all-cash transaction, expected to close in the first half of 2026.
• Brookfield Corporation and Brookfield Wealth Solutions approved concurrent three-for-two stock splits for their respective Class A shares to improve liquidity and accessibility, with the split payable on October 9, 2025.
• A quarterly return of capital distribution of $0.09 per share was declared, payable on September 29, 2025.

Key Details

• Financial Performance (Q2 2025 vs Q2 2024):
  • Distributable Operating Earnings (DOE): $398 million (vs $298 million).
  • Net Income: $516 million (vs $269 million).
  • Net Income per Class A Share: $0.09 (vs $0.08).
  • Total Assets: $148.9 billion.
  • Adjusted Equity: $14.7 billion.
• Financial Performance (Six Months Ended June 30, 2025 vs 2024):
  • Distributable Operating Earnings (DOE): $835 million (vs $577 million).
  • Net Income: $234 million (vs $606 million).
  • Net Income per Class A Share: $0.18 (vs $0.16).
• Operational Highlights:
  • Deployed $3.5 billion into Brookfield originated strategies at an average yield of 8%.
  • Originated over $4 billion of annuity sales across retail, PRT, and FABN channels.
  • Property and Casualty float remained stable at approximately $8 billion.
  • Liquidity position includes ~$34 billion in cash/short-term liquid investments and $22 billion in long-term liquid investments.
• Acquisition of Just Group plc:
  • Target: Just Group plc (UK-based retirement specialist).
  • Consideration: All-cash transaction totaling GBP 2.4 billion ($3.2 billion).
  • Strategic Rationale: Accelerates growth in the UK retirement market, specifically in defined benefit de-risking and individual retirement income.
  • Closing: Anticipated in the first half of 2026, subject to regulatory approvals.
• Stock Split Details:
  • Brookfield Corporation approved a 3-for-2 split of Class A limited voting shares.
  • Brookfield Wealth Solutions approved a concurrent 3-for-2 split of Class A exchangeable limited voting shares to maintain economic equivalence.
  • Record Date: October 3, 2025.
  • Payable Date: October 9, 2025.
  • Trading: Due bill trading from October 3 to October 9, 2025; ex-dividend trading begins October 10, 2025.
  • Tax: No Canadian or U.S. federal income tax expected for shareholders (except on cash for fractional shares).
• Distribution Declaration:
  • Quarterly return of capital: $0.09 per Class A and Class B share.
  • Payable Date: September 29, 2025.
  • Record Date: September 12, 2025.
• Brookfield Corporation Operating Results (Contextual):
  • Net income of consolidated business (Q2 2025): $1,055 million.
  • Distributable earnings per Brookfield Class A share (Q2 2025): $0.88.

Notable Quotes

• Sachin Shah, CEO: “Our business continues to generate strong returns across a growing offering of products. With the pace of sales expected to increase in the second half of the year, an active pipeline of accretive investments and a strong capital base to support our policyholders and future growth, we remain on track to achieve the full-year targets we set for ourselves.”
• Sachin Shah, CEO: “Our recently announced acquisition of Just Group plc. will be transformational to our business as we expand in the U.K. retirement market, serving as an attractive platform for future growth.”