Brighthouse Financial (BHFAM)

Brighthouse Financial focuses on helping customers manage retirement income, wealth protection and legacy planning needs. Its largest business is annuities, including variable annuities, fixed annuities, index-linked products and income annuities. These products are distributed mainly through independent financial professionals and partnerships with banks, broker-dealers and other distribution firms, rather than through a large captive agency force.

The company also offers life insurance products, including term life, universal life, whole life and variable life policies. In addition, Brighthouse manages a run-off segment made up of older blocks of business that are no longer actively marketed, such as universal life with secondary guarantees, structured settlements, pension risk transfer contracts and certain corporate-owned life insurance policies.

As non-cumulative preferred stock, the Series D shares differ from common equity. Dividends are payable only when declared by the board, and missed dividends do not accumulate for future payment. The depositary share format makes each listed security represent a 1/1,000th interest in a full preferred share, allowing the instrument to trade in smaller denominations on the public market.