Jackson Financial Inc · Q2 2022 earnings

Briefing

Announced second quarter 2022 results, demonstrating resilience amid volatile market conditions and progress in balance sheet health.

Jackson Financial reported a net income of $2,903 million, or $32.56 per diluted share, and adjusted operating earnings of $225 million, or $2.52 per diluted share. The company returned $116 million to shareholders and increased its capital position at the operating company level.

• Net income was $2,903 million, or $32.56 per diluted share, including non-economic hedging results.
• Adjusted operating earnings were $225 million, or $2.52 per diluted share.
• Total annuity account value decreased 17% year-over-year to $208 billion, primarily due to lower equity markets.
• Shareholders received $116 million through share repurchases and dividends, aligning with the full-year capital return target of $425-$525 million.

Headline financials

Revenue & EPS history

Jackson's second quarter results reflect the continued resiliency of our business amid volatile financial market conditions. We made strong progress improving the health of our balance sheet during the quarter, including raising our operating company RBC ratio, retiring the last of the term loans through our senior debt issuance, and maintaining strong levels of excess liquidity at the holding company.