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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV