Jackson Financial Inc. reports developments in its retirement-services and annuity business, including financial results, retail annuity sales, product mix, capital generation, holding-company cash and common and preferred stock dividends. Its product suite includes variable annuities, registered index-linked annuities, fixed index annuities, fixed annuities and payout annuities, with business reported across Retail Annuities, Institutional Products, and closed life and annuity blocks.
Recurring company updates also cover Jackson National Life Insurance Company, the PPM America asset management subsidiary, investment-management capabilities, the completed TPG strategic partnership, and retirement research on policy, longevity, inflation, healthcare and market risks.
Dev Ganguly, COO of Jackson National Life Insurance Company, has been awarded the ORBIE CIO of the Year by the Michigan Chapter of the InspireCIO Leadership Network. Recognized for technology leadership in the Large Enterprise category, Ganguly's achievements highlight Jackson’s focus on digital transformation to enhance retirement planning access. Under his leadership, the company has implemented an enterprise-wide scaled agile delivery framework and a platform strategy to improve collaboration and integration with partners. The award underscores Jackson’s long-term commitment to clarity in retirement planning.
Jackson Financial Inc. (NYSE: JXN) will report its third quarter financial results for the period ending September 30, 2022, after market close on November 9, 2022. The results will be followed by a conference call and webcast on November 10, 2022, at 10 a.m. ET. Investors can access the press release and financial materials on the company's investor relations website.
Through its annuity products and services, Jackson aims to simplify retirement planning for financial professionals and their clients. More information is available at www.jackson.com.
Jackson Financial Inc. (NYSE: JXN) has appointed Andrea Goodrich as senior vice president, corporate law, and corporate secretary. Effective immediately, she will oversee critical legal operations including governance and mergers. Carrie Chelko, general counsel, expressed enthusiasm for Goodrich's extensive public company experience, which is expected to enhance Jackson's business strategies after a successful first year as an independent public company. Goodrich previously held significant roles at Lincoln Financial Group and Johnson Controls.
Jackson Financial Inc. (NYSE: JXN) reported a net income of $2,903 million or $32.56 per diluted share for Q2 2022, rebounding from a net loss of $(540) million during the same period in 2021. Adjusted operating earnings were $225 million, down from $636 million year-over-year, attributed to higher deferred acquisition costs and lower fee income. The total annuity account value dropped 17% year-on-year to $208 billion. Shareholders received $116 million through share repurchases and dividends. The company's Risk-Based Capital (RBC) ratio improved, exceeding 450% by quarter-end.
Jackson Financial (NYSE: JXN) has announced a quarterly cash dividend of $0.55 per share for Q3 2022, payable on September 15, 2022, to shareholders on record as of September 1, 2022. This decision reflects the company's commitment to providing returns to its shareholders while ensuring long-term financial strength. Jackson aims to demystify retirement planning for clients through its diverse annuity products and award-winning service.
PPM America Inc. has achieved significant milestones in its Core Plus Real Estate Debt Strategy, marking a three-year track record and surpassing $500M in structured loans. The figure now stands at over $650M in total assets with average loan sizes of $25M. The strategy targets enhanced returns through first mortgage and subordinate debt for commercial properties, particularly in markets with stable growth. PPM manages $7.2B in commercial mortgage loans, with a 10-year average of $1.4B in annual originations.
Jackson Financial Inc. (NYSE: JXN) will announce its second-quarter financial results for the period ending June 30, 2022, after the market closes on August 9, 2022. A conference call is scheduled for August 10, 2022, at 10 a.m. ET, to discuss the results. Jackson is focused on simplifying retirement planning through its annuity products and commitment to stakeholders. Additional information can be accessed on the company's investor relations website.
Jackson Financial Inc. (NYSE: JXN) has announced the pricing of a $750 million senior notes offering, divided into two tranches: $400 million of 5.17% notes due 2027 and $350 million of 5.67% notes due 2032. The offering is expected to close on June 8, 2022, pending customary conditions. Proceeds will be used to repay the $750 million principal of an existing term loan due February 22, 2023. An effective registration statement has been filed with the SEC for the offering.
PPM America welcomes Melissa FitzGerald as the new Vice President of Private Equity Investor Relations, enhancing their Business Development team. With 13 years in investment services, Melissa transfers from UBS, focusing on client relations for PPM America Capital Partners (PPMACP). The PPMACP investment team averages 26 years of experience, managing $5.39 billion in assets as of December 31, 2021. Her expertise aims to strengthen PPM’s position amid growth in the private equity market.
Jackson National Life Insurance Company, a subsidiary of Jackson Financial Inc. (NYSE: JXN), has entered a distribution partnership with The Pinnacle Group. This collaboration aims to offer Jackson's advisory annuity products through Pinnacle's outsourced insurance desk, reaching over 15,000 registered investment advisors (RIAs). Bill Burrow, Senior VP at Jackson, expressed enthusiasm for this alliance, highlighting its role in expanding distribution opportunities. Pinnacle's VP, Morgan Christiansen, emphasized the partnership will enhance holistic planning solutions for advisors.