Jackson Financial Q3 retail annuity sales rise 22%, hitting record
JXN•Jackson Financial said third-quarter retail annuity sales rose 22% year over year to a record. Adjusted operating earnings were $517 million, EPS was $12.37, and the company approved a $1 billion increase to its share repurchase authorization.
1. Record sales and earnings
Jackson Financial reported record third-quarter retail annuity sales, up 22% year over year, including strong growth in registered index-linked annuity products. The company reported $517 million in adjusted operating earnings, $12.37 in EPS and $847 million in net income.
2. Earnings drivers and outlook
Higher spread income, growth in average spread block assets under management and share repurchases contributed to earnings. Jackson expects expanded distribution through a new AARP annuity program and expects to maintain liquidity above its targeted minimum buffer; it did not provide specific financial guidance for future quarters or the full year.
