The following is a summary of the Jackson Financial Inc. (JXN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Jackson Financial reported adjusted operating earnings of $334 million in Q1 2024, seeing a growth of 23% from Q1 2023.

• The company reported nearly $800 million of GAAP net income and held $500 million at the holding company by the end of Q1 2024.

• Statutory capital saw a significant increase of nearly $400 million, mirroring the level of adjusted operating earnings.

• Since becoming an independent public company in 2021, Jackson Financial has returned over $1.4 billion to its shareholders through dividends and share buybacks.

• There was a sequential decrease of $89 million in statutory operating earnings due to lower guaranteed benefit fees, offset positively by non-repeat of interest rate derivative losses.

Business Progress:

• The company experienced record quarter retail annuity sales in the first quarter of 2024, showing an increase of around 20% compared to last year.

• Jackson Financial's formation of Brook Re has strengthened company capital and helped meet stakeholder commitments, leading to more stable results.

• The company launched Plus Income in its product suite, allowing policyholders to create immediate income streams or defer withdrawals, emphasizing on product offerings centered on choice, flexibility, and high consumer value.

• Jackson recorded high RILA sales across all channels due to new distribution partner onboarding and product diversity.

• The company's hedging performance aligned with their accounting results and they plan to maintain this in the future.

More details: Jackson Financial IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.