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    Jackson Financial Inc (JXN)

    Financials

    Updated May 7, 2025, 11:18 PM UTC
    Income Statement - MetricQ1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Fee income (USD, millions)1,929.007,6801,9982,008.002,032.00--1,986
    Premiums (USD, millions)38.001473837.0031.00--40
    Net investment income (USD, millions)754.002,930734748.00726.00--755
    Net investment income excluding funds withheld assets (USD, millions)442.001,756464463.00457.00--528
    Net investment income on funds withheld assets (USD, millions)312.001,174270285.00269.00--227
    Net gains (losses) on derivatives and investments (USD, millions)(691.00)(5,864)(2,892)(1,342.00)102.00--1,343
    Net gains (losses) on funds withheld reinsurance treaties (USD, millions)(1,153.00)(1,801)(201)(214.00)(784.00)--(388)
    Other income (USD, millions)15.0067110.0014.00--14
    Total revenues (USD, millions)892.003,159(322)1,247.002,121.00--3,750
    Death, other policy benefits and change in policy reserves, net of deferrals (USD, millions)264.00965221209.00209.00--244
    (Gain) loss from updating future policy benefits cash flow assumptions, net (USD, millions)79.0010211(18.00)0.00--12
    Market risk benefits (gains) losses, net (USD, millions)1,223.00(3,897)(2,718)(516.00)1,172.00--2,246
    Interest credited on other contract holder funds, net of deferrals and amortization (USD, millions)281.001,145273273.00275.00--288
    Interest expense (USD, millions)35.001852526.0025.00--25
    Operating costs and other expenses, net of deferrals (USD, millions)687.002,549685678.00742.00--677
    Amortization of deferred acquisition costs (USD, millions)278.001,152278277.00277.00--275
    Total benefits and expenses (USD, millions)2,847.002,201(1,225)929.002,700.00--3,767
    Pretax income (loss) (USD, millions)(1,955.00)958903318.00(579.00)--(17)
    Income tax expense (benefit) (USD, millions)(395.00)410136.00(113.00)--1
    Net income (loss) (USD, millions)(1,560.00)954802282.00(466.00)--(18)
    Net income (loss) attributable to noncontrolling interests (USD, millions)(1.00)2077.003.00--6
    Net income (loss) attributable to Jackson Financial Inc. (USD, millions)(1,559.00)934795275.00(469.00)--(24)
    Dividends on preferred stock (USD, millions)11.00351111.0011.00--11
    Net income (loss) attributable to Jackson Financial Inc. common shareholders (USD, millions)(1,570.00)899784264.00(480.00)--(35)
    Basic earnings per share (USD)(18.96)10.9910.043.51(6.14)--(0.48)
    Diluted earnings per share (USD)(18.44)10.769.943.50(6.10)--(0.48)
    Balance Sheet - MetricQ1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Debt Securities, at fair value under fair value option (USD, millions)2,1532,1532,2562,5672,937--3,430
    Equity securities, at fair value (USD, millions)394394222212213--191
    Mortgage loans, net of allowance for credit losses (USD, millions)10,08210,0829,8999,6999,564--9,575
    Mortgage loans, at fair value under fair value option (USD, millions)481481455430432--451
    Policy loans (USD, millions)4,3994,3994,3864,4394,453--4,407
    Freestanding derivative instruments - Assets (USD, millions)390390213226295--587
    Other invested assets (USD, millions)2,4662,4662,5802,6732,747--2,844
    Total investments (USD, millions)60,85560,85560,17160,67063,003--63,728
    Cash and cash equivalents (USD, millions)2,6882,6882,5421,7363,061--3,887
    Accrued investment income (USD, millions)512512488518528--535
    Deferred acquisition costs (USD, millions)12,30212,30212,17312,06611,986--11,770
    Reinsurance recoverable, net of allowance for credit losses (USD, millions)25,42225,42224,55823,69922,959--21,037
    Reinsurance recoverable on market risk benefits, at fair value (USD, millions)149149126121149--126
    Market risk benefit assets, at fair value (USD, millions)6,7376,7378,0258,5567,615--7,326
    Deferred income taxes, net (USD, millions)640640749768527--382
    Other assets (USD, millions)1,2941,294675554797--830
    Separate account assets (USD, millions)219,656219,656230,773229,088235,037--217,572
    Total assets (USD, millions)330,255330,255340,280337,776345,662--327,193
    Reserves for future policy benefits and claims payable (USD, millions)11,89811,89811,58511,37011,543--11,026
    Other contract holder funds (USD, millions)55,31955,31954,89754,72357,334--59,028
    Market risk benefit liabilities, at fair value (USD, millions)4,7854,7853,8433,8904,384--4,125
    Funds withheld payable under reinsurance treaties (USD, millions)19,95219,95219,24418,46518,103--16,275
    Long-term debt (USD, millions)2,0372,0372,0332,0342,033--2,030
    Repurchase agreements and securities lending payable (USD, millions)19191,8201,797820--1,035
    Collateral payable for derivative instruments (USD, millions)78078092116124--340
    Freestanding derivative instruments - Liabilities (USD, millions)1,2101,2101,288900425--256
    Notes issued by consolidated variable interest entities, at fair value under fair value option (USD, millions)1,9881,9882,0682,0412,366--2,303
    Other liabilities (USD, millions)2,2772,2772,2813,0682,586--2,678
    Separate account liabilities (USD, millions)219,656219,656230,773229,088235,037--217,572
    Total liabilities (USD, millions)319,921319,921329,924327,492334,755--316,668
    Series A non-cumulative preferred stock and additional paid in capital (USD, millions)533533533533533--533
    Common stock (USD, millions)11111--1
    Additional paid-in capital (USD, millions)6,0056,0056,0056,0076,025--6,042
    Treasury stock, at cost (USD, millions)(599)(599)(713)(796)(909)--(1,179)
    Accumulated other comprehensive income (loss), net of tax expense (benefit) (USD, millions)(2,808)(2,808)(3,423)(3,626)(2,383)--(2,719)
    Retained earnings (USD, millions)7,0387,0387,7667,9657,431--7,623
    Total shareholders' equity (USD, millions)10,17010,17010,16910,08410,698--10,301
    Noncontrolling interests (USD, millions)164164187200209--224
    Total equity (USD, millions)10,33410,33410,35610,28410,907--10,525
    Total liabilities and equity (USD, millions)330,255330,255340,280337,776345,662--327,193
    Cash Flow - MetricQ1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Net income (loss) [USD, millions](1,560.00)954802282.00(466.00)--(18)
    Net realized losses (gains) on investments [USD, millions]319.00554730.0045.00--66
    Net losses (gains) on derivatives [USD, millions]372.005,3102,8851,312.00(147.00)--(1,409)
    Net losses (gains) on funds withheld reinsurance treaties [USD, millions]1,153.001,801201214.00784.00--388
    Net (gain) loss on market risk benefits [USD, millions]1,223.00(3,897)(2,718)(516.00)1,172.00--2,246
    (Gain) loss from updating future policy benefits cash flow assumptions, net [USD, millions]79.0010211(18.00)0.00--12
    Interest credited on other contract holder funds, gross [USD, millions]281.001,145273273.00275.00--288
    Mortality, expense and surrender charges [USD, millions](132.00)(528)(133)(139.00)(138.00)--(133)
    Amortization of discount and premium on investments [USD, millions](4.00)(27)(14)(14.00)(14.00)--(8)
    Deferred income tax expense (benefit) [USD, millions](183.00)(207)(13)(17.00)289.00--2
    Share-based compensation [USD, millions]33.001074548.0069.00--54
    Change in: Accrued investment income [USD, millions](7.00)224(30.00)(10.00)--(6)
    Change in: Deferred acquisition costs [USD, millions]145.00622128108.0079.00--117
    Change in: Funds withheld, net of reinsurance [USD, millions](101.00)(20)13666.00(144.00)--134
    Change in: Future policy benefits [USD, millions]-(731)(238)(130.00)(114.00)--(137)
    Change in: Other assets and liabilities, net [USD, millions]747.00123309.00(316.00)--(2)
    Net cash provided by (used in) operating activities [USD, millions]1,634.005,3101,4261,478.001,364.00--1,594
    Sales, maturities and repayments of: Debt securities [USD, millions]3,339.0011,4882,5532,706.002,711.00--2,027
    Sales, maturities and repayments of: Equity securities [USD, millions]79.003161858.008.00--4
    Sales, maturities and repayments of: Mortgage loans [USD, millions]621.002,492360407.00501.00--272
    Purchases of: Debt securities [USD, millions](2,301.00)(8,231)(2,613)(3,327.00)(3,310.00)--(3,333)
    Purchases of: Equity securities [USD, millions](179.00)(200)(5)0.000.00---
    Purchases of: Mortgage loans [USD, millions](579.00)(1,605)(152)(181.00)(341.00)--(392)
    Settlements related to derivatives and collateral on investments [USD, millions](1,220.00)(5,475)(2,261)(1,207.00)(75.00)--742
    Other investing activities [USD, millions]333.00623(73)(320.00)105.00--(273)
    Net cash provided by (used in) investing activities [USD, millions]93.00(592)(2,006)(1,914.00)(401.00)--(953)
    Proceeds from (payments on) repurchase agreements and securities lending [USD, millions](5.00)(1,025)1,798(22.00)(976.00)--(517)
    Net proceeds from (payments on) Federal Home Loan Bank notes [USD, millions]70.00250(250)500.00(500.00)--(700)
    Payments on debt [USD, millions](557.00)(603)(4)0.00(1.00)--(4)
    Issuance of debt of consolidated investment entities [USD, millions]-29738398.00429.00--215
    Repayments of debt of consolidated investment entities [USD, millions]-(351)(345)(54.00)(107.00)--(27)
    Contributions from partners of consolidated investments [USD, millions]-111176.006.00---
    Dividends on common stock [USD, millions](49.00)(201)(54)(53.00)(53.00)--(58)
    Dividends on preferred stock [USD, millions](11.00)(35)(11)(11.00)(11.00)--(11)
    Purchase of treasury stock [USD, millions](70.00)(306)(120)(109.00)(114.00)--(202)
    Net cash provided by (used in) financing activities [USD, millions](1,801.00)(6,328)433(369.00)359.00--(521)
    Net increase (decrease) in cash, cash equivalents, and restricted cash [USD, millions](74.00)(1,610)(147)(805.00)1,322.00--120
    Debt securities acquired from exchanges, payments-in-kind, and similar transactions [USD, millions]68.00144279.001.00--53
    Other invested assets acquired from stock splits and stock distributions [USD, millions]106.0031719-----
    Non-cash dividend equivalents on stock-based awards [USD, millions](1.00)(8)(2)(1.00)(1.00)--(1)
    Income taxes paid (received) [USD, millions](2.00)(21)--(5.00)--(20)
    Interest paid [USD, millions]57.0018333102.0045.00--42
    Policyholders' account balances: Deposits [USD, millions]3,339.0014,1893,8604,900.006,092.00--5,804
    Policyholders' account balances: Withdrawals [USD, millions](7,715.00)(29,112)(8,984)(10,225.00)(9,976.00)--(10,226)
    Policyholders' account balances: Net transfers from (to) separate accounts [USD, millions]3,232.0010,0174,1434,601.005,570.00--5,205
    Cash, cash equivalents, and restricted cash at beginning of period [USD, millions]4,3014,3012,6912,6912,691--3,767
    Total cash, cash equivalents, and restricted cash at end of period [USD, millions]2,6912,6912,5441,7393,061--3,887
    Revenue by Segment - in Millions of USDQ1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Retail Annuities1,1644,5901,2531,2891,344-2,0315,2691,303
    - Fee Income15521212128,0474,46012
    - Premiums------5229
    - Net Investment Income22714(1)--72511
    - Other Income-15(14)(6)(1)65321
    Institutional Products-88474113118101-236438116
    Closed Life and Annuity Blocks3081,262312315295-9311,236330
    Corporate and Other331152511-2822824
    Intersegment Eliminations--------
    Total Revenue1,6166,3911,6801,7271,751-1,8876,9713,750
    KPIs - Metric (Unit, Scale)Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Net Flows for Variable Annuities (USD millions)--9,277-3,939-4,376-5,012---
    Net Flows for RILA (USD millions)-2,8201,1191,3881,550---
    Net Flows for Fixed Index Annuities (USD millions)-199312844---
    Net Flows for Fixed Annuities (USD millions)-(11)96953---
    Net Flows for Payout Annuities (USD millions)--69-19-9-8---
    Total Retail Annuities Net Flows (USD millions)--6,338-2,799-2,963-2,473---
    Net Flows for Institutional Products (USD millions)-(985)(596)(619)499---
    Net Flows for Closed Life and Annuity Blocks (USD millions)--273-90-89-74---
    Retail Annuities Account Value (net of reinsurance) (USD millions)-235,465247,611247,213256,028---
    Retail Annuities Account Value (gross of reinsurance) (USD millions)-253,835265,238264,016271,930---
    Institutional Products Account Value (USD millions)-8,4067,8257,2997,929---
    Closed Life and Annuity Blocks Account Value (USD millions)-8,0327,9357,8367,754---
    Variable Annuity Account Value (USD millions)-227,777238,470236,424242,245---
    Registered Index-Linked Annuities Account Value (USD millions)-5,2196,6448,25310,250---
    Fixed and Fixed Index Annuity Account Value (USD millions)-1,8401,8851,9262,926---
    Payout Annuity Account Value (USD millions)-629612610607---
    Variable Annuity Benefit Base for GMWB for Life (USD millions)-188,722186,813185,171183,279---
    Variable Annuity Benefit Base for GMWB (USD millions)-5,3485,2665,1955,140---
    Variable Annuity Benefit Base for GMIB (USD millions)-1,7991,6781,6281,595---
    Total Variable Annuity Benefit Base (USD millions)-195,869193,757191,994190,014---
    Jackson Invested Assets Under Management (USD millions)-44,06842,60642,24548,099---
    Third Party Invested Assets Under Management (USD millions)-29,04329,16827,62428,564---
    Total PPM Assets Under Management (USD millions)-73,11171,77469,86976,663---
    Total JNAM Assets Under Management (USD millions)-242,727253,555251,193257,876---
    Total Assets Under Management (USD millions)-315,838325,329321,062334,539---