Fourth Quarter 2024 Highlights<\/span><\/b><\/p>\n Full Year 2024 Highlights<\/span><\/b><\/p>\n 2025 Announcements<\/span><\/b><\/p>\n \nLaura Prieskorn, President and Chief Executive Officer of Jackson, stated, \u201c2024 was a tremendous year of momentum for Jackson, with our financial performance highlighting success across our business. Our full year retail annuity sales were up 39% with growth across all product lines, demonstrating our distribution strength and our continued focus and commitment to offering differentiated and innovative solutions while generating value for our shareholders. We have once again achieved our financial targets by returning $631 million to common shareholders in 2024, ending the year with an estimated RBC ratio well above our target of 425%, and holding robust levels of excess cash at the holding company. We experienced greater stability in net income, better alignment between capital generation and our non-GAAP adjusted operating earnings, and delivered more frequent distributions from our operating company. This positive outcome, along with our healthy and profitable book of business, gives us confidence in our $700-800 million capital return target for 2025, and positions us well to continue delivering on our mission of helping Americans achieve financial freedom for life.\u201d\n<\/p>\n Consolidated Fourth Quarter and Full Year 2024 Results<\/span><\/b><\/p>\n Fourth Quarter 2024<\/span><\/p>\n \nThe Company reported net income (loss) attributable to Jackson Financial Inc. common shareholders of $334 million, or $4.45 per diluted share for the three months ended December 31, 2024, compared to $(1.6) billion, or $(19.64) per diluted share for the three months ended December 31, 2023. The current period net income reflected a $347 million gain from business reinsured to third parties, while the prior year\u2019s fourth quarter included a loss on that business of $841 million. The results of reinsured business can differ significantly from quarter to quarter; however, these results do not impact our statutory capital or free cash flow and have a minimal net impact on shareholders\u2019 equity because of the offset from related changes in Accumulated Other Comprehensive Income (AOCI). The current period net income also reflects a better alignment between hedge assets and market risk benefits compared to the prior year\u2019s fourth quarter resulting from changes to our hedging approach following the establishment of our captive, Brooke Life Reinsurance Company. We believe the non-GAAP measure of adjusted operating earnings better represents the underlying performance of our business as the figure excludes, among other things, changes in the fair value of derivative instruments and market risk benefits tied to market volatility.\n<\/p>\n \nAdjusted operating earnings for the three months ended December 31, 2024, were $349 million, or $4.65 per diluted share, compared to $204 million or $2.53 per diluted share for the three months ended December 31, 2023. The current quarter adjusted operating earnings per share benefited from increased fee income resulting from higher average variable annuity AUM, improved spread income, and reduced diluted share count due to common share repurchases. These were partially offset by higher market-related costs and other expenses.\n<\/p>\n Full Year 2024<\/span><\/p>\n \nThe Company reported net income (loss) attributable to Jackson Financial Inc. common shareholders of $902 million, or $11.74 per diluted share for the year ended December 31, 2024, in line with reported net income of $899 million, or $10.76 per diluted share for the year ended December 31, 2023. The current year net income reflected a $28 million loss from business reinsured to third parties, while the prior year included a loss on that business of $627 million. The current year also included a less favorable net hedging result compared to the prior year due to larger losses on hedges resulting from increases in interest rates during 2024.\n<\/p>\n \nAdjusted operating earnings for the year ended December 31, 2024, were $1.4 billion, or $18.79 per diluted share, compared to $1.1 billion or $12.84 per diluted share for the year ended December 31, 2023. The current year adjusted operating earnings per share benefited from increased fee income resulting from higher average variable annuity AUM, improved spread income, and reduced diluted share count due to common share repurchases. These were partially offset by higher market-related costs and other expenses.\n<\/p>\n \nTotal common shareholders\u2019 equity was $9.2 billion or $124.21 per diluted share as of December 31, 2024, compared to $9.6 billion or $121.29 per diluted share as of December 31, 2023. Adjusted book value attributed to common shareholders3<\/sup> was $11.2 billion or $150.11 per diluted share as of December 31, 2024, compared to $10.8 billion or $136.34 per diluted share as of December 31, 2023. The increase was driven primarily by adjusted operating earnings of $1.4 billion and a full year net hedging gain, partially offset by non-operating actuarial assumption review impacts, non-operating deferred acquisition cost (DAC) amortization, and capital return to shareholders during 2024.\n<\/p>\n Segment Results \u2013 Pretax Adjusted Operating Earnings<\/span>3<\/sup><\/b><\/p>\n\n
\n
\n
\n
\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250219336439\/en\/1228973\/3\/Jackson_logo_reg_col_pos_rgb.jpg\"){kind=logo}
<\/td>\n<\/tr>\n