Company Website:
http://www.jackson.com
LANSING, Mich. -- (Business Wire)
Jackson National Life Insurance Company® (Jackson®)
generated more than $6.2 billion in total sales and deposits1
during the first quarter of 2013, an increase of 6.3 percent from the
first quarter of 2012. This strong performance was driven primarily by
higher variable annuity (VA) sales, particularly from Elite Access®,
which was introduced in March 2012. Elite Access contributed $835.6
million of sales during the period.
“Jackson has made a strong start to 2013 and the continued growth in our
business is a reflection of our excellent product innovation
capabilities, which enable us to offer advisors and investors a
compelling range of products despite the challenges of the low interest
rate environment. We continue to price all of our products
conservatively to help Jackson maintain a strong capital position, which
is in the best interests of 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 $835.6 million in sales of Elite
Access and $3.7 billion in other VA sales during the first quarter of
2013, compared to $11.5 million and $4.4 billion, respectively, in first
quarter 2012. Sales of fixed index annuities totaled $531.4 million, up
from $391.7 million in first quarter 2012. First quarter 2013 fixed
annuity sales were $223.3 million, compared to $255.1 million during the
same period in the prior year.
In the first quarter of 2013, Jackson issued $238.7 million in
institutional products, up from $118.8 million in the first quarter of
2012. Jackson participates in the institutional market (guaranteed
investment contracts, medium-term notes and funding agreements) on an
opportunistic basis.
Subsidiary and Affiliate Performance
Curian Capital® LLC (Curian), Jackson’s asset management
subsidiary that provides customized investment management products and
services to financial representatives and institutional clients,
continued to generate positive net flows during 2013. Deposits totaled
$677.6 million during the first quarter. Assets under management in
Curian’s core business increased to $9.6 billion as of March 31, 2013,
up from $8.9 billion at year-end 2012.
Jackson’s affiliate, National Planning Holdings®, Inc. (NPH®),
a network of four independent broker-dealers, reported gross product
sales of $5.1 billion during the first quarter of 2013, compared to $4.2
billion in the same period of 2012, yielding IFRS2 revenue of
$225.8 million and $197.0 million in the first quarters of 2013 and
2012, respectively.
“Jackson adds value to advisors and investors by providing effective
retirement solutions that can be tailored to meet the needs of
individuals,” said Clifford Jack, executive vice president and head of
retail for Jackson. “We have been particularly encouraged by the early
success of Elite Access, which enables advisors to introduce alternative
investments to their clients’ portfolios in order to help enhance risk
adjusted returns. The combination of Elite Access and Perspective II®,
our more traditional variable annuity product, provides advisors with a
comprehensive offering to meet the evolving needs of their client base
in today’s challenging macroeconomic environment.”
Market Share
During full-year 2012 (the latest industry data available), Jackson
ranked:
-
First in total annuity sales, with a market share of 10.2 percent;3
-
Second in VA new sales, with a market share of 13.8 percent;4
-
First in VA net flows;5
-
Sixth in total VA assets; 4
-
Sixth in FIA sales, with a market share of 5.1 percent;6 and
-
Seventh in fixed-rate deferred annuity sales with a market share of
3.6 percent.3
Financial Strength
Jackson has maintained the same financial strength ratings for more than
10 years.As of May 6, 2013, Jackson had the following ratings:7
-
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.
2International Financial Reporting Standards (IFRS)
is a principles-based set of international accounting standards
indicating how transactions and other events should be reported in
financial statements. IFRS is issued by the International Accounting
Standards Board in an effort to increase global comparability of
financial statements and results. Prudential plc, the ultimate parent of
Jackson and NPH, uses IFRS to report the Group's financial results.
3Source: LIMRA U.S. Individual Annuities Sales
Survey, Fourth Quarter 2012 YTD. Jackson ranked first in total annuity
sales out of 58 participating companies that reported sales during the
period. Jackson ranked seventh in fixed-rate deferred annuity sales out
of 57 participating companies that reported sales during the period.
Market share calculated from LIMRA survey data.
4Source: © 2012 Morningstar, Inc. All Rights
Reserved. The information contained herein: (1) is proprietary to
Morningstar and/or its content providers; (2) may not be copied or
distributed; and (3) is not warranted to be accurate, complete or
timely. Neither Morningstar nor its content providers are responsible
for any damages or losses arising from any use of this information. Past
performance is no guarantee of future results.Morningstar
Annuity Research Center (MARC), Fourth Quarter 2012 YTD Sales Report©.
Jackson ranked second in VA sales out of 36 VA companies that reported
sales during the period. Jackson ranked sixth in total VA assets out of
49 VA companies that reported assets during the period.
5Jackson ranked first in VA net flows out of 21
participating companies from the MARC Fourth Quarter 2012 YTD Net Flow
Report© and one company from its quarterly financial supplements.
6Source: AnnuitySpecs Indexed Sales & Market Report
Fourth Quarter 2012 YTD. Jackson ranked sixth out of 40 companies that
reported sales during the period. Copyright © 2012, AnnuitySpecs.com.
7Financial strength ratings do not apply to the
principal amount or investment performance of the separate account or
underlying investments of variable products.
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 lose value.
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.
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 $165.4 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 www.jackson.com.
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.
*Jackson has $165.4 billion in total IFRS assets and $150.9 billion
in IFRS policy liabilities primarily set aside to pay future policyowner
benefits (as of 12/31/12).
Elite Access Fixed and Variable Annuity (VA650, VA 660) is issued by
Jackson National Life Insurance Company (Home Office: Lansing, Michigan)
and in New York (VA650NY, VA 660NY) by Jackson National Life Insurance
Company of New York (Home Office: Purchase, New York). Perspective II
Fixed and Variable Annuity (VA620) is issued by Jackson National Life
Insurance Company (Home Office: Lansing, Michigan) and in New York
(VA620NY 09/12) 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, 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. Jackson is the marketing name for Jackson National Life
Insurance Company and Jackson National Life Insurance Company of New
York.
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 in England and Wales. Prudential
plc and its affiliated companies constitute one of the world's leading
financial services groups. It has been in existence for 165 years and
has $658.3 billion in assets under management (as of December 31, 2012).
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 America.
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 accomplished.
Contacts:
Jackson National Life Insurance Company
Corporate Communications
Kim
Isaacson
Director, Financial Communications & Social Media
Phone:
800-565-9044 x24292
Email: kim.isaacson@jackson.com
Source: Jackson National Life Insurance Company
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