Jackson Reports Nine Month 2013 Sales and Deposits of $20.7 Billion
LANSING, Mich. -- November 14, 2013
Jackson National Life Insurance Company^® (Jackson^®) generated $20.7 billion
in total sales and deposits^1 during the first nine months of 2013, an
increase of 5.4 percent year over year. This modestly higher level of sales
was achieved despite a decrease in sales of variable annuities (VAs) with
living benefits, as the decline was more than offset by sales of Elite
Access^®, Jackson’s VA investment platform without guarantees.
“Jackson’s performance during the first nine months of 2013 is a reflection of
our ability to create and market innovative products that meet the evolving
needs of advisors and investors. Jackson’s strong product development and
distribution capabilities, along with our disciplined approach to product
pricing, allow us to grow while maintaining a strong capital position, which
is valuable to 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 $15.5 billion in VA sales during the
first nine months of 2013, of which nearly $3.0 billion consisted of Elite
Access sales, compared to $15.3 billion and $630.1 million, respectively,
during the first nine months of 2012. Sales of fixed index annuities totaled
$1.3 billion, compared to $1.2 billion during the same period of the prior
year. Fixed annuity sales for the first nine months of 2013 were $679.6
million, compared to $713.5 million during the first nine months of 2012.
In the first nine months of 2013, Jackson issued $1.1 billion of institutional
products, up from $440.5 million in the first nine months of 2012. Jackson
participates in the institutional market (guaranteed investment contracts,
medium-term notes and funding agreements) on an opportunistic basis.
Curian Capital^® LLC (Curian), Jackson’s asset management subsidiary that
provides customized investment management products and services through
financial representatives, generated total deposits of $2.1 billion during the
first nine months of 2013, an increase of 11.1 percent over the same period of
2012. Assets under management in Curian’s core business increased to $10.3
billion as of September 30, 2013, up from $8.9 billion at year-end 2012.
“We’re pleased that Jackson’s broad retirement services offering continues to
attract interest from our distribution partners. Jackson has carved out a
leadership position in the traditional VA with living benefits space, but has
also made significant progress in growing Elite Access into an important sales
contributor. The success of Elite Access, coupled with the continued growth in
deposits at Curian, has resulted in nearly 40 percent of year-to-date
fee-based sales coming from products without living benefits,” said Clifford
Jack, executive vice president and head of retail for Jackson.
During the first nine months of 2013, 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 10 years. As of November 13, 2013,
Jackson had the following ratings:^2
*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.
^2Financial strength ratings do not apply to the principal amount or
investment performance of the separate account or underlying investments of
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 to the Company.
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
Although asset allocation among different asset categories generally limits
risk and exposure to any one category, the risk remains that management may
favor an asset category that performs poorly relative to the other asset
categories. Some of those risks include general economic risk, geopolitical
risk, commodity-price volatility, counterparty and settlement risk, currency
risk, derivatives risk, emerging markets risk, foreign securities risk,
high-yield bond exposure, noninvestment-grade bond exposure commonly known as
“junk bonds”, index investing risk, industry concentration risk, leveraging
risk, market risk, prepayment risk, liquidity risk, real estate investment
risk, sector risk, short sales risk, temporary defensive positions, and large
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 $173.6 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 has $173.6 billion in total IFRS assets and $161.2 billion in IFRS
policy liabilities primarily set aside to pay future policyowner benefits as
of June 30, 2013.
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.
Elite Access Fixed and Variable Annuity (VA650, VA660) is issued by Jackson
National Life Insurance Company (Home Office: Lansing, Michigan) and in New
York (VA650NY, VA660NY) 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 may apply. These products have limitations
and restrictions, including withdrawal charges and excess interest adjustments
(interest rate adjustments in New York) where applicable.
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.
Optional living benefits are available for an extra charge, in addition to the
ongoing fees and expenses of the variable annuity.
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 and with its principal place of
business in England. Prudential plc and its affiliated companies constitute a
large global financial services group. It has been in existence for 165 years
and has $648.2 billion in assets under management as of June 30, 2013.
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
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
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