Jackson Financial Inc (FRA:8WF)

Q4 2024 Jackson Financial Inc Earnings Call Transcript

Feb 20, 2025 / 02:00 PM GMT

Release Date Price: €90.34 (-1.07%)

Transcript 10-K8-K

Key Points

Positve

Jackson Financial Inc (JXN) achieved a record $875 million in distributions to its holding company in 2024, the highest annual level in the company's history.
Retail annuity sales increased by 39% year over year, reaching $18 billion, driven by strong sales across various annuity products.
The company's RBC ratio remained stable at an estimated 572%, comfortably above the target, providing significant capital for shareholder returns and new business support.
Jackson Financial Inc (JXN) announced a 14% increase in its quarterly dividend to $0.80 per common share, marking the fourth consecutive annual dividend increase.
The company successfully diversified its product sales, with RILA contributing over 30% of total retail annuity sales, enhancing its business mix beyond traditional variable annuities.

Negative

The annual actuarial assumptions review resulted in a $23 million reduction in fourth-quarter earnings, impacting the overall financial performance.
Variable annuity net outflows were elevated, despite an increase in average variable annuity net account value by over 9% in 2024.
The assumption updates led to a $419 million unfavorable impact on non-operating results, primarily due to refined projections of withdrawal behavior.
Despite strong capital generation, the company faced challenges with higher lapses and exchange activity in the current environment.
There is investor concern regarding the capitalization of Brook Re, with calls for more regular disclosures to track its performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

JXN.N - Jackson Financial Inc
Q4 2024 Jackson Financial Inc Earnings Call
Feb 20, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello everyone and welcome to the Jackson Financial Inc 4Q 24 earnings call. My name is Charlie and I'll be coordinating the call today.

You'll have the opportunity to ask a question at the end of the presentation. If you'd like to register a question, please press star, followed by one on the telephone keypads.

I'd now like to hand the call over to our host Liz Werner, head of investor relations, to begin. Liz, please go ahead.

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Unidentified_2 [2]
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Good morning, everyone, and welcome to Jackson's 2024 4th quarter and full year

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