Jackson Financial Inc.
For the period ended Jun 30, 2026. Filed Aug 3, 2026.
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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.
Jun 30, 2026 · Filed Aug 3, 2026
JXN$131.69-0.8%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheets
(in millions, except share data)
| June 30, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| Assets · (Unaudited) | ||
| Investments: | ||
| Debt Securities, available-for-sale, net of allowance for credit losses of $24 and $11 at June 30, 2026 and December 31, 2025, respectively (amortized cost: 2026 $55,815; 2025 $50,491) | $52,208 | $47,321 |
| Debt Securities, at fair value under fair value option | 3,534 | 3,470 |
| Equity securities, at fair value | 262 | 172 |
| Mortgage loans, net of allowance for credit losses of $176 and $133 at June 30, 2026 and December 31, 2025, respectively | 10,414 | 9,887 |
| Mortgage loans, at fair value under fair value option | 595 | 324 |
| Policy loans (including $3,617 and $3,537 at fair value under the fair value option at June 30, 2026 and December 31, 2025, respectively) | 4,484 | 4,426 |
| Freestanding derivative instruments | 422 | 448 |
| Other invested assets | 3,392 | 3,185 |
| Total investments | 75,311 | 69,233 |
| Cash and cash equivalents | 5,986 | 5,704 |
| Accrued investment income | 714 | 634 |
| Deferred acquisition costs | 11,655 | 11,660 |
| Reinsurance recoverable, net of allowance for credit losses of $31 and $30 at June 30, 2026 and December 31, 2025, respectively | 18,331 | 19,518 |
| Reinsurance recoverable on market risk benefits, at fair value | 109 | 118 |
| Market risk benefit assets, at fair value | 8,046 | 7,867 |
| Deferred income taxes, net | 609 | 719 |
| Other assets | 917 | 637 |
| Separate account assets | 245,387 | 236,496 |
| Total assets | $367,065 | $352,586 |
| Liabilities and Equity | ||
| Liabilities | ||
| Reserves for future policy benefits and claims payable | $10,634 | $10,896 |
| Other contract holder funds | 73,285 | 67,663 |
| Market risk benefit liabilities, at fair value | 3,368 | 3,754 |
| Funds withheld payable under reinsurance treaties (including $3,806 and $3,723 at fair value under the fair value option at June 30, 2026 and December 31, 2025, respectively) | 14,090 | 14,960 |
| Debt | 2,769 | 2,030 |
| Repurchase agreements and securities lending payable | 477 | 1,036 |
| Collateral payable for derivative instruments | 14 | 58 |
| Freestanding derivative instruments | 657 | 257 |
| Notes issued by consolidated variable interest entities, at fair value under fair value option (see Note 4) | 2,474 | 2,578 |
| Other liabilities | 3,436 | 2,516 |
| Separate account liabilities | 245,387 | 236,496 |
| Total liabilities | 356,591 | 342,244 |
| 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 June 30, 2026 and December 31, 2025; 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 68,185,286 and 66,825,632 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively (see Note 19) | 1 | 1 |
| Additional paid-in capital | 6,401 | 6,063 |
| Treasury stock, at cost; 26,303,029 and 27,662,683 shares at June 30, 2026 and December 31, 2025, respectively | (1,897) | (1,645) |
| Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(286) and $(377) at June 30, 2026 and December 31, 2025, respectively | (2,625) | (2,470) |
| Retained earnings | 7,549 | 7,471 |
| Total shareholders' equity | 9,962 | 9,953 |
| Noncontrolling interests | 512 | 389 |
| Total equity | 10,474 | 10,342 |
| Total liabilities and equity | $367,065 | $352,586 |
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