Jackson Financial Incorporation

Latest Results (23.12.2024):

Retail Annuity Sales Surge

Jackson Financial Incorporation reported a significant increase in retail annuity sales for the third quarter of 2024, reaching $5.3 billion. This marks a 59% rise compared to the same period in 2023, showcasing strong growth across all product lines. The company attributed this success to its broad retail annuity distribution platform.

Net Income Decline

For the third quarter of 2024, Jackson Financial Incorporation experienced a net loss attributable to common shareholders of $(480) million, or $(6.37) per diluted share. This was primarily driven by a loss on reinsured business, contrasting with a net income of $2.8 billion, or $33.35 per diluted share, in the third quarter of 2023.

Adjusted Operating Earnings Increase

Jackson Financial Incorporation's adjusted operating earnings for the third quarter of 2024 were $350 million, or $4.60 per diluted share. This represents an increase from $315 million, or $3.80 per diluted share, in the third quarter of 2023. The growth was largely driven by higher variable annuity assets under management and improved spread income.

Capital and Liquidity Position

As of September 30, 2024, Jackson Financial Incorporation maintained a robust capital position with total adjusted capital of $4.8 billion. The estimated risk-based capital (RBC) ratio at Jackson National Life Insurance Company was between 550-570%. The company also held nearly $650 million in cash and highly liquid securities, exceeding its minimum liquidity buffer.

Shareholder Returns

During the third quarter of 2024, Jackson Financial Incorporation returned $167 million to common shareholders through $113 million in share repurchases and $54 million in dividends. This brought the total capital return for the first nine months of 2024 to $483 million, marking a 52% increase from the same period in 2023.