Jackson Financial Inc.

jackson.com

What Do They Do?

Sells variable, registered index-linked and fixed annuities to U.S. retail investors, including people saving for or drawing retirement income.

How Do They Make Money?

Jackson earns investment income and annuity fees charged against account values for mortality coverage, guarantees and administration; traditional life policyholders pay premiums when due.

revenue

Segment	Share	How money arrives
Retail Annuities Recurring	82% FY2022: 46%	Recurring
Institutional Products Recurring	8.0% FY2022: 2.9%	Recurring
Closed Life and Annuity Blocks Recurring	19% FY2022: 14%	Recurring

Who Are Their Customers?

Retail investors, including retirees and people nearing retirement, buy annuities through broker-dealers, banks, financial advisers, platforms and insurance agents. Institutional and corporate investors, plan sponsors and other eligible buyers purchase institutional products through investment banks or other intermediaries.

Do Revenues Turn Into Profits?

Yes. It kept less than a cent of every revenue dollar as net income in FY2025.

Net income, FY2025

0% of revenue

▼ −97% vs FY2024 ($946M, 29%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ Now profitable; vs −$471M in Q2 FY2025
Net income: ▲ +266%; vs $179M in Q2 FY2025

Retail Annuities share of revenue vs −273.9% in Q2 FY2025

Jul 22, 2026 CEO and CFO succession announced Don Cummings will become CEO on October 1, 2026; Brian Walta succeeds him as CFO, and Laura Prieskorn plans to retire.

Flat. Revenue was $6.7B in FY2025, about the same as the $6.4B of FY2021.

Revenue over time

Retail Annuities Institutional Products Closed Life and Annuity Blocks

$10B$5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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