Brookfield Wealth Solutions has pushed its assets beyond $200 billion after acquiring British insurer Just Group, while its quarterly earnings rose despite a steep fall in net income.

Sachin Shah, the chief executive of the Bermudian-based insurer, said: “Our business delivered strong results during the second quarter as we advanced our growth strategy across our key markets and grew total assets to over $200 billion.”

The company reported total assets of $205.7 billion at June 30, compared with $157.2 billion at the end of 2025.

Brookfield Wealth Solutions completed its acquisition of Just Group, a provider of retirement services in the pension-risk-transfer and individual-annuity markets, during the quarter.

The deal expanded the company’s international operations and contributed a full quarter of earnings, the company said.

Distributable operating earnings rose 23 per cent to $488 million for the three months to June 30, from $398 million in the same quarter last year.

For the first half of the year, distributable operating earnings were $926 million, compared with $835 million a year earlier.

The company said the increase also is due to higher net investment income in its annuities segment, driven by organic growth and deploying assets into Brookfield investment strategies. Improving underwriting results in its property-and-casualty business also contributed.

Brookfield Wealth Solutions originated $5 billion of annuity sales across its retail, pension and funding-agreement channels during the quarter.

It also deployed more than $5 billion into Brookfield-originated fixed-income and equity strategies, which carried an average target yield of 7 per cent.

Reported net income, however, fell to $149 million from $516 million in the second quarter of 2025. This was because of unfavourable unrealised mark-to-market movements on inflation derivatives and public-equity investments, according to the company.

For the six months to June 30, Brookfield Wealth Solutions reported a net loss of $453 million, compared with net income of $234 million in the previous year’s first half.

The company said it had about $35 billion of cash and short-term liquid investments across its portfolios, along with approximately $43 billion of longer-term liquid investments.

It added that the liquidity would help it meet policyholder obligations and rotate its portfolio into higher-yielding strategies.

Brookfield has been increasing its physical presence in Bermuda, including through the nine-storey Brookfield House, under construction on Front Street.

Separately, shareholders approved a simplification transaction with Brookfield Corp at the company’s annual meeting last month. Brookfield Wealth Solutions class A shareholders will automatically receive new Brookfield Corp Ltd shares when the transaction is complete.

The combination will bring Brookfield’s investment, insurance and wealth businesses under a simpler structure and give the insurance operation access to an additional $145 billion of permanent capital.