Jackson Financial Inc

For the period ended Mar 31, 2024. Filed May 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 8, 2024

JXN$138.01+1.8%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Balance Sheet

	March 31,	December 31,
	2024	2023
Assets · (Unaudited)
Investments:
Debt Securities, available-for-sale, net of allowance for credit losses of $20 and $21 at March 31, 2024 and December 31, 2023, respectively (amortized cost: 2024 $44,796; 2023 $44,844)	$40,090	$40,422
Debt Securities, at fair value under fair value option	2,256	2,153
Debt Securities, trading, at fair value	70	68
Equity securities, at fair value	222	394
Mortgage loans, net of allowance for credit losses of $162 and $165 at March 31, 2024 and December 31, 2023, respectively	9,899	10,082
Mortgage loans, at fair value under fair value option	455	481
Policy loans (including $3,448 and $3,457 at fair value under the fair value option at March 31, 2024 and December 31, 2023, respectively)	4,386	4,399
Freestanding derivative instruments	213	390
Other invested assets	2,580	2,466
Total investments	60,171	60,855
Cash and cash equivalents	2,542	2,688
Accrued investment income	488	512
Deferred acquisition costs	12,173	12,302
Reinsurance recoverable, net of allowance for credit losses of $30 and $29 at March 31, 2024 and December 31, 2023, respectively	24,558	25,422
Reinsurance recoverable on market risk benefits, at fair value	126	149
Market risk benefit assets, at fair value	8,025	6,737
Deferred income taxes, net	749	640
Other assets	675	1,294
Separate account assets	230,773	219,656
Total assets	$340,280	$330,255
Liabilities and Equity
Liabilities
Reserves for future policy benefits and claims payable	$11,585	$11,898
Other contract holder funds	54,897	55,319
Market risk benefit liabilities, at fair value	3,843	4,785
Funds withheld payable under reinsurance treaties (including $3,618 and $3,626 at fair value under the fair value option at March 31, 2024 and December 31, 2023, respectively)	19,244	19,952
Long-term debt	2,033	2,037
Repurchase agreements and securities lending payable	1,820	19
Collateral payable for derivative instruments	92	780
Freestanding derivative instruments	1,288	1,210
Notes issued by consolidated variable interest entities, at fair value under fair value option (Note 4)	2,068	1,988
Other liabilities	2,281	2,277
Separate account liabilities	230,773	219,656
Total liabilities	329,924	319,921
Commitments, Contingencies, and Guarantees (Note 16)
Equity
Series A non-cumulative preferred stock and additional paid in capital, $1.00 par value per share: 24,000 shares authorized; 22,000 shares issued and outstanding at March 31, 2024 and December 31, 2023; liquidation preference $25,000 per share (See Note 19)	533	533
Common stock; 1,000,000,000 shares authorized, $0.01 par value per share and 76,621,374 and 78,660,221 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively (See Note 19)	1	1
Additional paid-in capital	6,005	6,005
Treasury stock, at cost; 17,859,632 and 15,820,785 shares at March 31, 2024 and December 31, 2023, respectively	(713)	(599)
Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(274) and $(178) at March 31, 2024 and December 31, 2023, respectively	(3,423)	(2,808)
Retained earnings	7,766	7,038
Total shareholders' equity	10,169	10,170
Noncontrolling interests	187	164
Total equity	10,356	10,334
Total liabilities and equity	$340,280	$330,255

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