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Jackson National Life Insurance Company® (Jackson®) has significant competitive advantages in the key growth sectors of the US retirement market, the largest retirement market in the world. As America's Baby Boomers retire, they will put a tremendous amount of retirement assets into motion. The ability to bring innovative products to market rapidly, and strong positioning in advice-based distribution channels, has positioned Jackson to seize the opportunities that will arise as Baby Boomers seek to convert their retirement assets into a steady stream of income.
International Financial Reporting Standards (IFRS) is a principles-based set of international accounting standards for reporting financial information. IFRS is issued by the International Accounting Standards Board in an effort to increase global comparability of financial statements and results. IFRS is used by Jackson's parent to report the Group's financial results. Jackson's IFRS results are consolidated in its parent's IFRS financial statements, which are audited. Jackson does not produce standalone audited IFRS financial statements.
2 IFRS pretax operating income is based on longer-term investment returns. It excludes short-term fluctuations in investment returns, hedge results, and change in value of derivatives. A reconciliation to net income based on US generally accepted accounting principles (US GAAP) is as follows (in millions):
4 Includes separate account liabilities as well as $2.3 billion, $3.1 billion and $3.1 billion of trust instruments supported by funding agreements and Federal Home Loan Bank advances in 1H13, 1H12 and 2012, respectively.
For more information on Jackson's financial performance, contact Jackson Corporate Communications.