Jackson Reports First Quarter 2013 Sales and Deposits of $6.2 Billion
LANSING, Mich. -- May 7, 2013
Jackson National Life Insurance Company^® (Jackson^®) generated more than $6.2
billion in total sales and deposits^1 during the first quarter of 2013, an
increase of 6.3 percent from the first quarter of 2012. This strong
performance was driven primarily by higher variable annuity (VA) sales,
particularly from Elite Access^®, which was introduced in March 2012. Elite
Access contributed $835.6 million of sales during the period.
“Jackson has made a strong start to 2013 and the continued growth in our
business is a reflection of our excellent product innovation capabilities,
which enable us to offer advisors and investors a compelling range of products
despite the challenges of the low interest rate environment. We continue to
price all of our products conservatively to help Jackson maintain a strong
capital position, which is in the best interests of all of our stakeholders,”
said Mike Wells, Jackson’s president and chief executive officer.
Jackson, an indirect wholly owned subsidiary of the United Kingdom’s
Prudential plc (NYSE: PUK), recorded $835.6 million in sales of Elite Access
and $3.7 billion in other VA sales during the first quarter of 2013, compared
to $11.5 million and $4.4 billion, respectively, in first quarter 2012. Sales
of fixed index annuities totaled $531.4 million, up from $391.7 million in
first quarter 2012. First quarter 2013 fixed annuity sales were $223.3
million, compared to $255.1 million during the same period in the prior year.
In the first quarter of 2013, Jackson issued $238.7 million in institutional
products, up from $118.8 million in the first quarter of 2012. Jackson
participates in the institutional market (guaranteed investment contracts,
medium-term notes and funding agreements) on an opportunistic basis.
Subsidiary and Affiliate Performance
Curian Capital^® LLC (Curian), Jackson’s asset management subsidiary that
provides customized investment management products and services to financial
representatives and institutional clients, continued to generate positive net
flows during 2013. Deposits totaled $677.6 million during the first quarter.
Assets under management in Curian’s core business increased to $9.6 billion as
of March 31, 2013, up from $8.9 billion at year-end 2012.
Jackson’s affiliate, National Planning Holdings^®, Inc. (NPH^®), a network of
four independent broker-dealers, reported gross product sales of $5.1 billion
during the first quarter of 2013, compared to $4.2 billion in the same period
of 2012, yielding IFRS^2 revenue of $225.8 million and $197.0 million in the
first quarters of 2013 and 2012, respectively.
“Jackson adds value to advisors and investors by providing effective
retirement solutions that can be tailored to meet the needs of individuals,”
said Clifford Jack, executive vice president and head of retail for Jackson.
“We have been particularly encouraged by the early success of Elite Access,
which enables advisors to introduce alternative investments to their clients’
portfolios in order to help enhance risk adjusted returns. The combination of
Elite Access and Perspective II^®, our more traditional variable annuity
product, provides advisors with a comprehensive offering to meet the evolving
needs of their client base in today’s challenging macroeconomic environment.”
During full-year 2012 (the latest industry data available), Jackson ranked:
*First in total annuity sales, with a market share of 10.2 percent;^3
*Second in VA new sales, with a market share of 13.8 percent;^4
*First in VA net flows;^5
*Sixth in total VA assets; ^ 4
*Sixth in FIA sales, with a market share of 5.1 percent;^6 and
*Seventh in fixed-rate deferred annuity sales with a market share of 3.6
Jackson has maintained the same financial strength ratings for more than 10
years. As of May 6, 2013, Jackson had the following ratings:^7
*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.
^1Sales 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.
^2International Financial Reporting Standards (IFRS) is a principles-based set
of international accounting standards indicating how transactions and other
events should be reported in financial statements. IFRS is issued by the
International Accounting Standards Board in an effort to increase global
comparability of financial statements and results. Prudential plc, the
ultimate parent of Jackson and NPH, uses IFRS to report the Group's financial
^3Source: LIMRA U.S. Individual Annuities Sales Survey, Fourth Quarter 2012
YTD. Jackson ranked first in total annuity sales out of 58 participating
companies that reported sales during the period. Jackson ranked seventh in
fixed-rate deferred annuity sales out of 57 participating companies that
reported sales during the period. Market share calculated from LIMRA survey
^4Source: © 2012 Morningstar, Inc. All Rights Reserved. The information
contained herein: (1) is proprietary to Morningstar and/or its content
providers; (2) may not be copied or distributed; and (3) is not warranted to
be accurate, complete or timely. Neither Morningstar nor its content providers
are responsible for any damages or losses arising from any use of this
information. Past performance is no guarantee of future results. Morningstar
Annuity Research Center (MARC), Fourth Quarter 2012 YTD Sales Report©. Jackson
ranked second in VA sales out of 36 VA companies that reported sales during
the period. Jackson ranked sixth in total VA assets out of 49 VA companies
that reported assets during the period.
^5Jackson ranked first in VA net flows out of 21 participating companies from
the MARC Fourth Quarter 2012 YTD Net Flow Report© and one company from its
quarterly financial supplements.
^6Source: AnnuitySpecs Indexed Sales & Market Report Fourth Quarter 2012 YTD.
Jackson ranked sixth out of 40 companies that reported sales during the
period. Copyright © 2012, AnnuitySpecs.com.
^7Financial strength ratings do not apply to the principal amount or
investment performance of the separate account or underlying investments of
Please remember that a Jackson annuity is intended to be a long-term,
tax-deferred vehicle for retirement. An annuity's earnings are taxable as
ordinary income when withdrawn and, if taken before age 59 1/2, may be subject
to a 10% additional tax. Variable annuities involve investment risks and may
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
Jackson is a leading provider of retirement solutions for industry
professionals and their clients. The company offers a diverse range of
products including variable, fixed and fixed index annuities designed for
tax-efficient accumulation and distribution of retirement income for retail
customers, and fixed income products for institutional investors. Jackson
subsidiaries and affiliates provide specialized asset management and retail
brokerage services. With $165.4 billion in assets*, Jackson prides itself on
product innovation, sound corporate risk management practices and strategic
technology initiatives. Focused on thought leadership and education, the
company develops proprietary research, industry insights and financial
representative training on retirement planning and alternative investment
strategies. Jackson is also dedicated to corporate social responsibility and
supports charities focused on helping children and seniors in the communities
where its employees live and work. For more information, visit
Jackson is the marketing name for Jackson National Life Insurance Company,
Jackson National Life Insurance Company of New York^® and Jackson National
Life Distributors LLC.
*Jackson has $165.4 billion in total IFRS assets and $150.9 billion in IFRS
policy liabilities primarily set aside to pay future policyowner benefits (as
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). Perspective II Fixed and Variable
Annuity (VA620) is issued by Jackson National Life Insurance Company (Home
Office: Lansing, Michigan) and in New York (VA620NY 09/12) 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, may not be available in all states and state variations may apply.
These products have limitations and restrictions, including withdrawal charges
and excess interest adjustments (interest rate adjustments in New York) where
Jackson issues other variable annuities with similar features, benefits,
limitations and charges. Discuss Jackson’s other variable annuity options with
your representative or contact Jackson for more information. Jackson is the
marketing name for Jackson National Life Insurance Company and Jackson
National Life Insurance Company of New York.
Annuities are issued by Jackson National Life Insurance Company (Home Office:
Lansing, Michigan) and Jackson National Life Insurance Company of New York
(Home Office: Purchase, New York). Contact your representative or the Company
for more information.
Jackson National Life Insurance Company is an indirect subsidiary of
Prudential plc, a company incorporated in England and Wales. Prudential plc
and its affiliated companies constitute one of the world's leading financial
services groups. It has been in existence for 165 years and has $658.3 billion
in assets under management (as of December 31, 2012). Prudential plc is not
affiliated in any manner with Prudential Financial, Inc., a company whose
principal place of business is in the United States of America.
The following cautionary statement is included to make applicable and take
advantage of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 for any forward-looking statements made by, or on behalf
of, Jackson National Life Insurance Company. Forward-looking statements
include statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other statements which
are other than statements of historical facts. However, as with any projection
or forecast, forward-looking statements are inherently susceptible to a number
of risks and uncertainties and actual results and events could differ
materially from those currently being anticipated as reflected in such
forward-looking statements. There can be no assurance that management’s
expectations, beliefs or projections will result or be achieved or
Jackson National Life Insurance Company
Director, Financial Communications & Social Media
Phone: 800-565-9044 x24292
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