Welcome to our dedicated page for Jackson Financial news (Ticker: JXN), a resource for investors and traders seeking the latest updates and insights on Jackson Financial stock.
Jackson Financial Inc. (NYSE: JXN), known in the market as Jackson, is a U.S. retirement services firm focused on annuity-based solutions for individuals and institutional clients. News about JXN often centers on developments in its annuity product lineup, capital management actions and strategic partnerships that shape its retirement services franchise.
Investors following JXN news can expect regular coverage of earnings announcements, segment performance in Retail Annuities, Institutional Products and Closed Life and Annuity Blocks, and updates on assets under management at its asset management subsidiary, PPM America, Inc. Earnings-related releases typically discuss retail annuity sales across variable annuities, registered index-linked annuities, fixed index annuities, fixed annuities and payout annuities, as well as institutional sales, capital generation, free cash flow and capital return to shareholders through dividends and share repurchases.
Another key news theme is strategic transactions and partnerships. Jackson has announced a long-term strategic partnership with TPG Inc., under which an affiliate of TPG will make a minority equity investment in Jackson and enter investment management arrangements targeting general account assets over time. News items also describe the establishment of a Michigan-based captive reinsurer, Hickory Brooke Reinsurance Company, to support capital-efficient growth in fixed and fixed index annuity sales, and detail the terms of the investment agreement as disclosed in Form 8-K filings.
Corporate governance and leadership updates are also part of the JXN news flow, including announcements about executive appointments, leadership transitions at PPM America, Inc., and board-authorized changes to share repurchase programs. In addition, Jackson issues releases on its grantmaking and community initiatives, highlighting support for nonprofits in areas where it has offices. For a comprehensive view of Jackson’s evolving business, capital strategy and community engagement, readers can use this news page as an ongoing reference.
PPM America has been named one of the 'Best Places to Work in Money Management' by Pensions & Investments for the third consecutive time and fifth time overall. The company was selected among 45 companies in the 100-499 employee category and was one of 113 companies recognized industry-wide for 2024.
The recognition is based on employee surveys measuring workplace experience and an evaluation of company policies, practices, and demographics. PPM's President, CEO, and CIO Craig Smith highlighted the firm's commitment to fostering a collaborative, client-centric work environment and community involvement through local non-profit activities.
The company offers comprehensive benefits including health insurance, retirement contribution matching, and tuition reimbursement programs. The award, established in 2012, results from a two-part survey process conducted by Pensions & Investments in partnership with Workforce Research Group.
Mike Hicks, Senior Vice President and Chief Information Officer of Jackson National Life Insurance (NYSE: JXN), has won the 2024 Michigan ORBIE® CIO of the Year Award in the Large Enterprise category. Hicks, who joined Jackson in April 2023, was recognized for his excellence in technology leadership and improving digital experiences for financial professionals and consumers.
As CIO, Hicks oversees the company's information technology strategy, including innovative systems development, data strategy, enterprise architecture, and digital transformation. The award acknowledges his contributions to enhancing Jackson's position as an industry leader in retirement planning services. The recognition was presented at an awards event in Dearborn, MI on November 15.
Jackson Financial (NYSE: JXN) reported strong growth in Q3 2024, with retail annuity sales reaching $5.3 billion, up 59% year-over-year. The company achieved record registered index-linked annuity sales of $1.6 billion, a 99% increase from Q3 2023. Total annuity assets under management grew 18% to $256 billion. Despite posting a net loss of $(480) million, adjusted operating earnings increased to $350 million ($4.60 per share) from $315 million ($3.80 per share) in Q3 2023. The company maintained a robust capital position with total adjusted capital of $4.8 billion and returned $167 million to shareholders through repurchases and dividends.
Jackson Financial (NYSE: JXN) has announced its Board of Directors' declaration of dividends for Q4 2024. The company will pay a $0.70 per share cash dividend on common stock, payable December 19, 2024, to shareholders of record as of December 5, 2024. Additionally, a $0.50 per depositary share dividend was declared for its Series A Preferred Stock, payable December 30, 2024, to shareholders of record as of December 5, 2024.
Jackson Financial (NYSE: JXN) has announced a strategic partnership with JPMorganChase to distribute its registered index-linked annuity (RILA) product, Jackson Market Link Pro II. The partnership will make the RILA product available to approximately 5,000 financial professionals at J.P. Morgan Wealth Management. This expansion aims to provide more clients with protection opportunities while potentially growing their assets through buffered annuities. The product can be explored through Jackson's RILA Digital Ecosystem, which offers a comprehensive view of how RILAs can fit into clients' financial plans.
Jackson National Life Insurance Company, a subsidiary of Jackson Financial Inc. (NYSE: JXN), has introduced Principal Guard, a new guaranteed minimum accumulation benefit (GMAB) for its Elite Access® Suite of variable annuities. This add-on feature allows clients to invest with no downside risk over a selected term, offering protection while pursuing growth potential.
Principal Guard provides two guarantee term options: a 7-year option ensuring 100% of the original investment, and a 10-year option guaranteeing 110% of the initial investment at the end of the term. The Elite Access Suite also offers Investment Freedom®, allowing customers to invest in various well-known investments and work with investment managers to meet their goals.
This new offering aims to meet the growing market demand for protection-oriented products while providing benefits such as tax deferral, guaranteed accumulation, and legacy planning options. Jackson has also enhanced its digital capabilities to educate consumers on the product's features and benefits.
Jackson Financial Inc. (NYSE: JXN) has announced that it will release its third quarter 2024 financial results after market close on Wednesday, November 6, 2024. The company will host a conference call and webcast on Thursday, November 7, 2024, at 9 a.m. ET to discuss the results.
Interested parties can access the press release and supplemental financial materials at investors.jackson.com. The live webcast will be open to the public and can be accessed through the same website. A replay of the call will be available after the event. To register for the webcast, participants can follow the provided link.
Jackson National Life Insurance Company, a subsidiary of Jackson Financial Inc. (NYSE: JXN), has been named the Fueling Greatness Award winner in the 2024 Blackbaud Impact Awards. The company was recognized for its outstanding associate volunteerism in 2023, with 48% of associates participating in volunteer opportunities throughout the year.
Jackson partnered with Blackbaud to implement YourCause® CSRconnect®, enabling them to track and exceed their goal of 30% associate participation in volunteer service. Key achievements include:
- More than 1,800 individual associates participated
- Over 400 nonprofits were served nationwide
- Nearly 21,000 hours of volunteerism took place
Jackson's corporate philanthropy program focuses on building long-term partnerships with nonprofits to help people achieve financial freedom for life. The company's efforts are centered in Lansing, Michigan; Nashville, Tennessee; and Chicago, Illinois.
Jackson National Life Insurance Company, a subsidiary of Jackson Financial Inc. (NYSE: JXN), has been awarded the 2024 Insurance Technology Impact award by Datos Insights for its Registered Index-Linked Annuity (RILA) Digital Ecosystem. This innovative platform serves as a comprehensive tool for illustrating RILA benefits and their integration into financial plans.
The ecosystem aims to enhance understanding and accessibility of RILAs, one of the fastest-growing annuity segments. It features a data-driven tool that generates personalized, hypothetical scenarios for various RILA options within a holistic financial plan. This recognition highlights Jackson's commitment to improving digital experiences for financial professionals and their clients in the rapidly evolving RILA market.
Jackson Financial Inc. (NYSE: JXN) reported strong Q2 2024 results, with net income of $264 million ($3.43 per diluted share) and adjusted operating earnings of $410 million ($5.32 per diluted share). Key highlights include:
- 9% increase in total annuity assets under management to $247 billion
- Record RILA sales of $1.4 billion, up 163% year-over-year
- Robust capital position with estimated RBC ratio of 550-570%
- Returned $144 million to shareholders through repurchases and dividends
- Board approved $750 million increase to share repurchase authorization
The company's retail annuity sales grew 36% year-over-year, driven by strong RILA performance. Jackson maintained over $1 billion in excess capital and increased holding company cash above its targeted minimum liquidity buffer.