1Data Source: Statutory financial data per SNL Financial, rankings as of 6/30/2020. The 50 largest companies are a subset of 686 operating individual life insurance companies sourced from SNL Financial. Latest rankings available.
2Source: LIMRA/Secure Retirement Institute, US Individual Annuity Participants Report Q2 YTD 2020. Jackson ranks #1 for total annuity sales out of 58 companies that reported sales to the LIMRA/Secure Retirement Institute in Q2 YTD 2020.
3Source: © 2020 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar www.AnnuityIntel.com. Total VA Sales by Company Q2 YTD 2020. Jackson ranks #1 for total VA sales out of 33 companies with reported sales to Morningstar's quarterly sales survey as of Q2 YTD 2020.
4Source: LIMRA/Secure Retirement Institute, US Individual Annuity Participants Report Q2 YTD 2020. Jackson ranks #17 for fixed-rate deferred annuity sales out of 53 companies that reported sales to the LIMRA/Secure Retirement Institute in Q2 YTD 2020.
5Source: © 2020 AnnuitySpecs.com. All rights reserved. Wink's Sales & Market Report Q2 2020. Jackson ranks #24 out of 63 companies that reported sales in the Wink Sales & Market Report Q2 2020.
6Financial results from Jackson National Life Insurance Company and its subsidiaries have been included in Jackson's financial results. Fixed index annuities and institutional products are not sold in New York.
7International 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 within its parent's IFRS financial statements, which are audited. Jackson does not produce standalone audited IFRS financial statements.
8IFRS 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 both IFRS net income as well as net income based on US generally accepted accounting principles (US GAAP) is as follows:
|Reconciliation of IFRS pretax operating income to US GAAP net income
|IFRS basis pretax income from operations
|Net hedge results and change in value of derivatives12
|Impact From Athene Transaction13
|Net realized investment gains12
|Normalization of longer-term investment returns12
|Income tax benefit
|IFRS net loss
|IFRS to US GAAP adjustments, net of tax
|US GAAP basis net loss attributable to Jackson
Jackson's HY 2020 net loss was impacted by hedging losses incurred due to movements in interest rates and equity markets, which were not fully offset by the release of accounting reserves. IFRS accounting for variable annuity liabilities is not necessarily consistent with the economic value of these liabilities. Jackson continues to manage its hedge program on an economic basis and is willing to accept the accounting volatility that results.
9Includes separate account liabilities.
10Sales of medium-term notes, funding agreements and guaranteed investment contracts to investment banks, institutional investors, pension plan providers and the Federal Home Loan Bank.
11Totals may not sum as a result of rounding.
12Net of deferred policy acquisition costs amortization.
13On June 18, 2020, Jackson entered into an agreement with Athene Holding Ltd. (Athene) to fully reinsure $27.6 billion of the company’s in-force book of fixed and fixed index annuity liabilities in exchange for $1.2 billion in ceding commission from Athene (effective June 1, 2020).
Before investing, investors should carefully consider the investment objectives, risks, charges, and expenses of the variable insurance product, including its underlying investment options. The current prospectus (or for the variable insurance products the contract prospectus and underlying fund prospectuses, which are contained in the same document) provides this and other important information. Please contact your financial professional or the Company to obtain the prospectus(es). Please read the prospectus(es) carefully before investing or sending money.
Annuities are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and in New York, annuities are issued by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York). Variable products are distributed by Jackson National Life Distributors LLC. May not be available in all states and state variations may apply. These products have limitations and restrictions. Contact the Company for more information.
Guarantees are backed by the claims-paying ability of Jackson National Life Insurance Company or Jackson National Life Insurance Company of New York.
Jackson is the marketing name for Jackson National Life Insurance Company and Jackson National Life Insurance Company of New York.