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TheStreet Open House

Jackson® Reports Nine Month 2012 Sales And Deposits Of $19.6 Billion

Jackson National Life Insurance Company ® (Jackson) generated $19.6 billion of total sales and deposits 1 during the first nine months of 2012, driven by $15.3 billion of variable annuity (VA) sales. VA sales were up 11.3 percent over the $13.7 billion in VA sales recorded during the first nine months of 2011. Sales of Elite Access SM totaled $630.1 million during the period from launch on March 5, 2012, through September 30, 2012. Excluding Elite Access, Jackson’s overall VA sales growth during the first nine months of 2012 was 6.8 percent year over year.

“Jackson’s Long-Term Smart ® strategy has delivered strong, sustainable performance for all of our stakeholders,” said Mike Wells, Jackson’s president and chief executive officer. "At the heart of this strategy is a commitment to maintain a strong capital position. In the first nine months of 2012, Jackson completed the $663.3 million 2 acquisition of SRLC America Holding Corp (SRLC) and remitted a $400.0 million dividend to its parent company, Prudential plc (NYSE: PUK), while ending the period with more than $4.1 billion of regulatory adjusted capital. Jackson’s strong capital position reflects both the quality of the in-force book and our disciplined approach to writing new business, and it ensures that Jackson can continue delivering value for all of its stakeholders over the long term."

During the first nine months of 2012, Jackson increased sales of fixed and fixed index annuities (FIAs), as competitive conditions became more favorable. Jackson has long taken a consistent approach toward crediting rates and benefit levels within its fixed and FIA products. Industry-wide changes during the first nine months of 2012 brought competing products more in line with Jackson’s offering and, as a result, Jackson benefited from a flight to quality. Compared to the same period of the prior year, fixed annuity sales of $713.5 million were up 34.5 percent, and FIA sales of $1.2 billion were up 13.5 percent.

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