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TheStreet Open House

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

Curian Capital ® LLC (Curian), Jackson’s retail asset management subsidiary that provides innovative fee-based managed accounts and investment products, continued to generate positive net flows during the nine-month period, which increased assets under management to $10.4 billion as of September 30, 2012, up from $7.3 billion as of December 31, 2011.

"In today’s challenging economic environment, advisors are struggling to find solutions to growing and managing their clients’ assets, in order to provide an income that will last throughout their clients’ retirement years,” said Clifford Jack, executive vice president and head of retail for Jackson. "Jackson’s success is driven by our ability to construct sophisticated financial products that address problems the average retail consumer cannot solve on his or her own.”

As previously announced, Jackson has undertaken a number of initiatives to moderate the growth of its sales of variable annuities with guarantees for the remainder of the year. These actions will help to manage through a period of rapid change in competitor products while avoiding the risk of concentration to any one specific year.

On September 4, 2012, Jackson completed the acquisition of SRLC from Swiss Re for an initial consideration of $663.3 million. SRLC was the U.S. holding company of Reassure America Life Insurance Company (REALIC). The acquisition helps diversify Jackson’s sources of earnings by increasing the amount of income generated from underwriting activities. Jackson has begun integrating REALIC’s book of business and believes the transaction will be immediately accretive to its pre-tax earnings while having a modest impact on its statutory risk based capital ratio.

Following the SRLC acquisition announcement, all four primary rating agencies—A.M. Best, Standard & Poor’s, Fitch Ratings and Moody’s Investors Service, Inc.—affirmed Jackson’s financial strength ratings. Jackson has maintained the same financial strength ratings for more than nine years. As of October 31, 2012, Jackson had the following ratings: 3

  • A+ (superior) —A.M. Best financial strength rating, the second-highest of 16 rating categories;
  • AA (very strong) —Standard & Poor's insurer financial strength rating, the third-highest of 21 rating categories;
  • AA (very strong) —Fitch Ratings insurer financial strength rating, the third-highest of 19 rating categories;
  • A1 (good) —Moody's Investors Service, Inc. insurance financial strength rating, the fifth-highest of 21 rating categories.

1 Sales and deposits from Jackson’s subsidiaries, Jackson National Life Insurance Company of New York ® and Curian, have been included in Jackson’s total sales and deposits figure.

2 In the announcement of this transaction on May 31, 2012, the consideration of $621.0 million was based on an estimated closing balance sheet for SRLC. The consideration of $663.3 million was based on an updated estimate of the closing balance sheet, but is still subject to adjustment. The final purchase price may be further adjusted to reflect potential differences, if any, between the estimated closing balance sheet and the final closing balance sheet. These potential differences may include adjustments related to market value movements on capital and surplus, unwinding of expected future profits, finalization of the extraction of business that is not part of the acquisition and associated tax attributes. The acquisition received all appropriate regulatory approvals.

3 Financial strength ratings do not apply to the principal amount or investment performance of the separate account or underlying investments of variable products.

Before investing in variable products, investors should carefully consider the investment objectives, risks, charges and expenses of the variable product and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.

About Jackson National Life Insurance Company

With $129.9 billion in assets (IFRS)*, Jackson National Life Insurance Company (Jackson) is a leading provider of retirement solutions. The company sells variable, fixed and fixed index annuities, and institutional products. Through its affiliates and subsidiaries, Jackson also provides asset management and retail brokerage services. Jackson markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, wirehouses, financial institutions and independent insurance agents. Jackson’s subsidiary, Jackson National Life Insurance Company of New York ® , similarly markets products in the state of New York. For more information, visit www.jackson.com .

*Jackson has $129.9 billion in total IFRS assets and $119.0 billion in IFRS policy liabilities primarily set aside to pay future policyowner benefits (as of 6/30/12).

Elite Access Fixed and Variable Annuity (VA650, VA 660) is issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and in New York (VA650NY, VA 660NY) by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York). Variable annuities are distributed by Jackson National Life Distributors LLC, member FINRA, and may not be available in all states, and state variations apply. This product has limitations and restrictions, including withdrawal charges and excess interest adjustments (interest rate adjustments in New York) where applicable.

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