Jackson Financial Inc

For the period ended Dec 31, 2024. Filed Feb 26, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 26, 2025

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

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheet

Consolidated Balance Sheets

(in millions, except share data)

	December 31,
	2024	2023
Assets
Investments:
Debt Securities, available-for-sale, net of allowance for credit losses of $39 and $21 at December 31, 2024 and 2023, respectively (amortized cost: 2024 $45,007; 2023 $44,844)	$40,289	$40,422
Debt Securities, at fair value under fair value option	3,046	2,153
Debt Securities, trading, at fair value	—	68
Equity securities, at fair value	197	394
Mortgage loans, net of allowance for credit losses of $121 and $165 at December 31, 2024 and 2023, respectively	9,462	10,082
Mortgage loans, at fair value under fair value option	449	481
Policy loans (including $3,489 and $3,457 at fair value under the fair value option at December 31, 2024 and 2023, respectively)	4,403	4,399
Freestanding derivative instruments	297	390
Other invested assets	2,864	2,466
Total investments	61,007	60,855
Cash and cash equivalents	3,767	2,688
Accrued investment income	529	512
Deferred acquisition costs	11,887	12,302
Reinsurance recoverable, net of allowance for credit losses of $27 and $29 at December 31, 2024 and 2023, respectively	21,830	25,422
Reinsurance recoverable on market risk benefits, at fair value	121	149
Market risk benefit assets, at fair value	8,899	6,737
Deferred income taxes, net	480	640
Other assets	787	1,294
Separate account assets	229,143	219,656
Total assets	$338,450	$330,255
Liabilities and Equity
Liabilities
Reserves for future policy benefits and claims payable	$11,072	$11,898
Other contract holder funds	58,312	55,319
Market risk benefit liabilities, at fair value	3,774	4,785
Funds withheld payable under reinsurance treaties (including $3,667 and $3,626 at fair value under the fair value option at December 31, 2024 and 2023, respectively)	16,742	19,952
Long-term debt	2,034	2,037
Repurchase agreements and securities lending payable	1,554	19
Collateral payable for derivative instruments	150	780
Freestanding derivative instruments	361	1,210
Notes issued by consolidated variable interest entities, at fair value under fair value option (See Note 4)	2,343	1,988
Other liabilities	2,983	2,277
Separate account liabilities	229,143	219,656
Total liabilities	328,468	319,921
Commitments, Contingencies, and Guarantees (See 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 December 31, 2024 and December 31, 2023; liquidation preference $25,000 per share (See Note 24)	533	533
Common stock; 1,000,000,000 shares authorized, $0.01 par value per share and 73,380,643 and 78,660,221 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively (See Note 24)	1	1
Additional paid-in capital	6,046	6,005
Treasury stock, at cost; 21,107,672 and 15,820,785 shares at December 31, 2024 and 2023, respectively	(1,007)	(599)
Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(311) in 2024 and $(178) in 2023	(3,522)	(2,808)
Retained earnings	7,713	7,038
Total shareholders' equity	9,764	10,170
Noncontrolling interests	218	164
Total equity	9,982	10,334
Total liabilities and equity	$338,450	$330,255

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