Posted by American Life Insurance Guide Online News Mingya Life(Brighthouse)8月20日公布了2018年第2季度的財報。財報顯示，由於投資收益下降和成本的上升，公司在該季度虧損$2.39億美元。
The financial services company headquartered in Charlotte, North Carolina, just announced a profit of $2.46 million in its earnings report a year ago.
CEO Eric Steigerwalt said on the earnings call that Mingwu Life Insurance, as a company that just went public for its first anniversary, is expected to reach its year-end goal.
Advertising and internal R&D are the main expenses
The company said that with the company's investment in research and development technology platforms and brand promotion activities, quarterly expenditures reached $2.88 million.
The company said that based on the company's protected annuities and fixed index annuities, annuity sales increased by 42% to $14 billion.
The person in charge of the company said that Mingya Life's life insurance sales are 200 million US dollars, but it is expected to launch new products at the end of this year or early next year to participate in the life insurance market competition.
The company currently manages a $4210 billion life insurance policy.
And MetLife have not yet completely cut
Metlife issued a specificWei Ce, Starting from March 2017, MetLife will completely divest its retail business in the United States (includingLife Insurance Business), which was taken over by the newly established Brighthouse Financial, Inc. (Brighthouse Financial, Inc.).
Although Mingwu LifeMetropolis Life(MetLife) was spun off, but still signed a Transition Service Agreement (TSA) contract with MetLife.
Every time Mingwu Life withdraws from a transition service agreement contract, it effectively reduces costs. The company withdrew a total of 12 transition service agreements in the second quarter.
The person in charge of the company said that there are still less than 85 transitional service agreements between Mingwu Life and Metropolitan Life.
The company's revenue fell short of expectations
The company reported a loss of $2.01 per share.Adjusted earnings after deducting non-recurring costs are $1.27 per share.
This gain did not meet Wall Street's expectations. The average estimate given by five analysts at Zacks Investment Research is $2.03 per share.
The company that sells annuities and life insurance had revenues of $17 billion during this period.Adjusted revenue was US$20.9 billion.
(Comprehensive report by the American Life Insurance Guide Network)
