Jackson Financial Inc. reported its financial results for the first quarter of 2025, revealing a net loss attributable to common shareholders of $35 million, or $(0.48) per share, compared to a profit of $784 million, or $10.04 per share, in the same period last year. The company's total revenues for the quarter amounted to $3.75 billion, a significant increase from a loss of $322 million in the prior year, primarily driven by a $4.96 billion improvement in net gains on derivatives and investments, which totaled $955 million for the quarter. This turnaround was largely attributed to favorable movements in interest rates and fund performance.
In terms of operational metrics, Jackson Financial's total assets decreased to $327.19 billion as of March 31, 2025, down from $338.45 billion at the end of 2024. The company’s investments rose to $63.73 billion, up from $61.01 billion, with debt securities available-for-sale increasing to $42.24 billion. The company also reported a total of 71,878,542 shares of common stock outstanding as of May 1, 2025, reflecting a reduction in shares due to its ongoing share repurchase program, which has seen a total of $205 million in repurchases in 2025.
Strategically, Jackson Financial has made significant moves, including the execution of a funds withheld coinsurance agreement with Brooke Life Reinsurance Company, which allows for the cession of certain liabilities associated with guaranteed benefit riders under variable annuity contracts. This transaction is expected to enhance the company's capital management and risk mitigation strategies. Additionally, the company has returned $231 million to shareholders through dividends and share repurchases in the first quarter of 2025, with a target of $700-$800 million for the year.
Looking ahead, Jackson Financial anticipates free capital generation to exceed $1 billion in 2025 under normal market conditions. The company is also focused on managing its liquidity and capital resources effectively, with a strong emphasis on maintaining sufficient statutory capital to support its insurance operations. The outlook remains cautious, with potential impacts from macroeconomic factors, including interest rate fluctuations and market volatility, which could affect sales and profitability.
About Jackson Financial Inc.
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