Jackson Financial (JXN) Investor presentation summary

Company overview and strategy

• Leading U.S. annuity provider with $19.7B in retail annuity sales and $351B AUM in 2025.

• Broad product suite includes variable, fixed, and registered index-linked annuities, plus institutional offerings.

• Scaled to a top 5 RILA provider within three years of launch, leveraging strong distribution and efficient operations.

• Strategic partnerships and disciplined risk management underpin growth and diversification.

• Asset management arm, PPM America, manages $101B, supporting both Jackson and third-party clients.

Financial performance and capital management

• 2025 free capital generation reached $1.4B, with a 2026 target at or above $1.2B.

• Returned $862M to shareholders in 2025 and $547M in the first half of 2026; cumulative capital return since demerger is $3.3B.

• Quarterly dividend increased 12.5% in 2026, with share repurchases totaling 2.1M in 2Q26.

• Robust capital position with JNL RBC ratio at 538% and holding company liquidity near $1.4B at 2Q26.

• Free cash flow yield of approximately 13% for the trailing 12 months as of 2Q26.

Product and sales diversification

• Strategic expansion into RILA and FIA products has increased sales diversification; RILA sales now represent a significant portion of total sales.

• RILA AUM grew from $10.3B in 4Q21 to $21.1B in 1Q26, with market share gains.

• Variable annuity block is focused on withdrawal benefit features, with limited exposure to challenging guarantees.

• Product design and pricing emphasize risk management and rapid response to market changes.