Thank Last we along statutory and Eric, earnings with third reported you, quarter good preliminary everyone. morning, results. night,
with end preliminary with at of TAC, capital, statutory second of metrics, Beginning which $X.X as the the our compares adjusted statutory combined the billion billion XX, quarter. was $X.X or total September
XXX% to and ratio was our end RBC, drivers XXX% was asset which of the third Our the risk-based the tax TAC of deferred range of of quarter. of decline were estimated from RBC in ratio. of combined the and second in Changes as and XXX% end the as between key capital, quarter, or XXX% down the rates a interest
In have new we what addition, the business growth to in past. reduction an in capital contributed discussed impact requirements a with with ratio RBC consistent with associated the
hedges. Interest the on significantly which rates rose losses drove rate in interest quarter,
September, hedging interest our long-term rate in key our to the immediate element our balance sheet. and rates management the relative on free flow instruments impact risk balancing cash on a is projections statutory discussed multiyear from gains strategy losses we As statutory interest call on impact of from
believe We in sheet management rates. results this a to that movements substantially in interest is protected risk approach balance from
anticipate incremental are rates management associated prescribed with interest impact with valuation an quarter of VA, in essentially the given quarter on today, by of our long-term rates of be illustrate, business. results benefit negative associated will risk VA that third XXXX, in all the for the To first recouped or variable rate where higher annuity, interest the we book interest
end increase MRP, is current expected XX mean rates, on an points on with the so-called compares of by June based basis XX point rate levels of increase This year. at or anticipated which interest basis based to this point, reversion
our metrics admitted The deferred DTAs. second driver reduction of in the assets, change in was tax capital or a
total now I which only million, we the is using deferred past, term. small our sheet approximately admitted for or statutory tax over our tax As said attributes, statutory conservative. the asset anticipate The in still long $XXX a the balance have the accounting fraction of on DTA is
effective and also New York to its note reinsurance affiliate like transaction Insurance would Life between the in was Company I October. internal that Brighthouse
on As second we fourth by the the earnings quarter as created transaction. in an benefit result million capital I quarter TAC efficiencies to call, this of $XXX our a expect approximately mentioned
As our liquidity company robust Eric $XXX consistent of million remains mentioned, with June XX, holding September at liquid XX. assets with
holding taking this to Additionally, at anticipate we company still dividends $XXX ordinary subsidiary of least million year. the
in third of Now which items, the in of compares turning same earnings, the the quarter. the $XXX excluding earnings $XXX of of adjusted million notable XXXX. impact items review to results and a basis related notable million third tax. annual million, impact quarter The were quarter earnings in had the were the million on on favorable to and after Adjusted earnings $XX from adjusted the in XXXX $XX adjusted primarily second quarter assumption actuarial with net
first review framework. GAAP new annual assumption our the accounting under is This
assumption X.XX% this for assumed from part GAAP increased X.X%. reversion mean of As we rate U.S. Treasury long-term review, our to the XX-year
continue We over XX mean assume occurs years. that reversion to
with The of ULSG, within business. assumption with benefit block drove increase interest review market rate long-term or earnings our in Along of a our guarantees, life to a secondary capital universal adjusted behavior total to by emerging Life reviewed Annuities the rate-related model assumption policyholder segments. and assumptions, assumptions. earnings updates benefit experience we adjusted partially was in and interest The also offset
were mortality block of to that lapse note related our assumptions insignificant. ULSG and for business will I updates
the results with the roughly Alternative rate was in quarter of third alternative our the yield items, quarter. million or This per below by run as approximately was adjusted Excluding in X.X% offset share, expectation investment in lower earnings underwriting the quarterly $X.XX expenses. the third rate expectation. impact investment our income were a higher quarterly and notable run $XX line was margin
The higher the underwriting reinsurance. year, claims underwriting overall with offset driven margin There throughout than volume fluctuations along severity quarterly driven our variability experience. of by in margin is the rate from by was in lower claims, and expectation, run the
some In quarter, claims. segment the the third experienced Life larger
more this was by favorable ULSG than overall the within However, reinsurance claims including experience, the offset business. offset
run Additionally, than quarter. our third were the expectation corporate in rate expenses lower
third items, basis, lower On The primarily results million reported higher earnings, to quarter. the results. lower fees. sequential notable a offset Turning segment driven excluding $XXX and Annuities income investment segment in by Annuities of net the expenses, adjusted by were
excluding earnings Sequentially, were Run-off the margin. by an items, results higher reported driven partially a underwriting income. underwriting reported segment loss, margin, of The $X million. results notable lower adjusted by reflect excluding items. million, investment Life The of segment $X lower Sequentially, offset adjusted notable net
an expenses. Other Corporate driven a excluding had adjusted million. & sequential lower $XX items, results of basis, On by loss, were notable
maintained we company solid results, and liquidity remained quarter holding our third our target Overall, reported robust. capitalization,
the manage multiyear, to under and company support our franchise. continue to protect multi-scenario framework a distribution We
your for call that, to we like turn operator With the over would questions. to the
