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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.
Jackson Financial Inc. (NYSE: JXN) is set to release its financial results for Q1 ending March 31, 2022, after market close on May 10, 2022. A conference call will be held on May 11, 2022, at 10 a.m. ET to discuss the results. Jackson aims to simplify retirement planning through its annuity products and services. The company is committed to delivering clarity and better outcomes for clients and stakeholders. For more information, visit the investors' page.
Jackson Financial Inc. (NYSE: JXN) has partnered with Producers Choice Network (PCN) to distribute its advisory annuity products to over 6,500 investment advisor representatives. This collaboration aims to support registered investment advisors (RIAs) by providing commission-free, competitive products tailored to their client needs. Bill Burrow, Senior VP at Jackson, highlighted this partnership as a means to enhance their distribution footprint and better serve financial professionals. Jamie Kosharek, President of PCN, emphasized the goal of delivering unbiased planning through their services.
Jackson Financial Inc. (NYSE: JXN) reported strong financial results for Q4 and full year 2021, achieving a net income of $585 million for Q4, and $3.183 billion for the entire year. Adjusted operating earnings were $707 million for Q4 and $2.398 billion for the year, reflecting an increase in fee income from annuity sales. The company also highlighted a robust capital position with an RBC ratio of 580%. A dividend increase of 10% to $0.55 per share and a $300 million share repurchase authorization were announced. Total annuity account value rose to $259 billion, marking a 13% increase year-over-year.
Jackson Financial Inc. (NYSE: JXN) announced a cash dividend of $0.55 per Class A common share for Q1 2022, marking a 10% increase from the previous quarter. The dividend will be paid on March 23, 2022, to shareholders on record as of March 14, 2022. Additionally, the Board has increased the share repurchase authorization by $300 million, bringing the total to approximately $338 million. Repurchases will occur based on market conditions and management discretion.
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Jackson Financial Inc. (NYSE: JXN) will release its financial results for Q4 and full year 2021 after market close on March 2, 2022. A conference call is scheduled for March 3, 2022, at 10 a.m. ET to discuss these results, which will be accessible to the public. The company also aims to help stakeholders understand retirement planning, releasing educational videos addressing consumer needs and annuity types. Additional information about the press release is available on Jackson's investor relations website.
Jackson Financial Inc. (NYSE: JXN) has appointed Scott Romine as President of Jackson National Life Distributors LLC (JNLD), succeeding Aimee DeCamillo. Romine, a 24-year veteran, was previously President of Advisory Solutions. Additionally, Alison Reed has taken on an expanded role as COO of JNLD, overseeing Distribution Services and Marketing. Both leaders are expected to drive growth aligned with Jackson’s strategic focus. CEO Laura Prieskorn praised their experience and alignment with expansion goals.
Jackson Financial Inc. (NYSE: JXN) announced a $125 million stock repurchase from Prudential plc (NYSE: PUK) and Athene Co-Invest Reinsurance Affiliate 1A Ltd. This transaction forms part of a larger $300 million share buyback program. To date, approximately $185 million has been spent repurchasing 2,242,516 shares from Prudential and 1,134,767 shares from Athene. The repurchases are funded through cash reserves, with management retaining flexibility on future buybacks based on market conditions.
Jackson Financial Inc. (NYSE: JXN) has completed a $1.6 billion senior notes offering, divided into three tranches: $600 million of 1.125% notes due in 2023, $500 million of 3.125% notes due in 2031, and $500 million of 4.000% notes due in 2051. The proceeds will be utilized to repay the existing $1.6 billion term loan due on May 21, 2022. The offering was made to qualified institutional buyers under Rule 144A of the Securities Act, and Jackson plans to file a registration statement with the SEC for an exchange offer of the notes.
Jackson Financial Inc. (NYSE: JXN) reported a net income of $206 million, or $2.18 per diluted share, for Q3 2021, significantly improving from a net loss of $397 million in Q3 2020. Adjusted operating earnings were $487 million, down from $547 million a year earlier due to higher amortization of deferred acquisition costs (DAC). Total annuity account value increased by 20% year-over-year to $248 billion. The company launched new Registered Index-Linked Annuities and announced a $0.50 quarterly cash dividend and $300 million share repurchase authorization, reflecting strong operational momentum.