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Mar 31
Jackson Q1 2025 Earnings Report
Jackson posted strong adjusted operating earnings despite a net loss driven by reinsured business and market volatility.
Key Takeaways
Jackson Financial delivered solid Q1 2025 results with $376 million in adjusted operating earnings, driven by growth in RILA assets and improved spread income, despite a GAAP net loss of $35 million due to hedging and reinsurance impacts.
Adjusted operating earnings rose to $376 million, or $5.10 per diluted share.
Net loss of $35 million due to reinsurance losses and unfavorable hedging impacts.
Retail annuity sales grew 9% year-over-year to $4.0 billion.
Free cash flow reached $213 million, supported by $240 million in distributions from subsidiaries.
Jackson
Jackson
Jackson Revenue by Segment
Revenue by Segment
Retail Annuities Revenue
CapyFin.com Forward Guidance
Jackson aims to build on Q1 momentum, with a focus on capital strength, RILA growth, and shareholder returns.
Positive Outlook
- Strong adjusted capital of $5.2 billion and 585% RBC ratio at JNLIC.
- Maintaining over $600 million in liquidity at the holding company.
- Robust free cash flow generation from in-force business.
- Ongoing share repurchases and dividends totaling $231 million in Q1.
- Solid growth in RILA and fixed annuity product lines.
Challenges Ahead
- Net loss driven by reinsured business losses and hedging impacts.
- Unfavorable market risk benefits and derivative performance.
- Volatility in net income from non-operating items.
- Decline in Institutional Products earnings due to lower spread income.
- Slight drop in total assets from Q4 2024 due to market factors.