Aquarian/Brighthouse: Filing Says Buyer Seeks to Wipe $2.7 Billion of Losses Off Brighthouse Life’s Books and Create Possible Asset-Management Role for Mubadala Capital; State Regulator Opened Examination of Insurer

Aquarian Capital, which is attempting a $4.1 billion takeover of Brighthouse Financial (BHF), is asking Delaware’s insurance commissioner to let the target’s flagship insurer reset $2.7 billion of accumulated losses to zero as part the acquisition, according to a regulatory filing obtained by The Capitol Forum