Jackson Financial Inc. (NYSE: JXN) is an insurance holding company that manufactures and distributes retirement savings and income products, primarily variable, fixed, and fixed index annuities, to retail customers in the United States. Revenue is generated through fees charged on policyholder account values, spread income on fixed products, and net investment income earned on the general account portfolio. Jackson National Life Insurance Company, the primary operating subsidiary, distributes through independent broker-dealers, banks, and registered investment advisors. The company also operates JNAM (Jackson National Asset Management LLC), which manages the underlying investment options within its annuity products, and PPM America, Inc., its institutional asset management arm. Subsidiary structure includes Brooke Life Insurance Company, Brooke Re, and Hickory Brooke Reinsurance Company, Michigan-based captive reinsurers used to manage statutory capital. The filing was made February 24, 2026, covering fiscal year ended 2025.

Revenue model

Fee income on policyholder account values, net investment spread on fixed and fixed index annuities, and net investment income on the general account portfolio. Asset management fees through JNAM and PPM America provide additional revenue.

Products and services

Variable annuities, fixed annuities, fixed index annuities, institutional asset management (PPM America), and separate account investment management (JNAM). Captive reinsurance through Brooke Re and Hickory Brooke Reinsurance Company.

Customers and end markets

Retail retirement savers purchasing annuity products through intermediaries including independent broker-dealers, banks, and registered investment advisors. End market is U.S. individual retirement savings and income.

Value-chain role

Annuity product manufacturer and insurance carrier; distributes through third-party financial intermediaries; manages invested assets internally through JNAM and PPM America.

Geographic exposure

United States, based on filing disclosures. No international geographic exposure described in the excerpts.

Source: SEC 10-K, filed 2026-02-24

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