Brighthouse Shares Soar After Report That Insurer Seeks Sale

Brighthouse Financial Inc., spun off from MetLife Inc. almost eight years ago, is considering selling itself, the Financial Times Reported, and high-profile alternative asset managers are expected to bid for the life insurer and annuity provider.

The firm is working with Goldman Sachs Group Inc. and Wells Fargo & Co. to look at offers for either a full sale or to raise minority equity, the FT reported, citing people familiar with the matter. The people told the FT the process is in its early stages.

Shares of Brighthouse rose as much as 25% in New York, its biggest intraday ...