Aquarian/Brighthouse: $2.8 Billion Reinsurance Discrepancy Involves New York Affiliate, Could Complicate Merger Review in That State; Massachusetts Regulator Still Waiting for Final Merger Application as December 6 Deadline Looms

Two life insurers owned by Brighthouse Financial (BHF) report that they’ve shifted a combined $3.44 billion of annuity policyholder promises to a third Brighthouse insurer. Yet, the receiving insurer only reports taking on $679 million of those promises