2023-08-08 16:53:52 ET
- Jackson Financial press release ( NYSE: JXN ): Q2 Non-GAAP EPS of $3.34 misses by $0.15 .
- Revenue of $410M (-93.7% Y/Y) misses by $1.19B .
- Shares -3.15% .
- Returned $100 million to common shareholders in the second quarter through $47 million of share repurchases and $53 million in dividends; remain committed to achieving 2023 capital return target of $450-$550 million
- Second quarter 2023 registered index-linked annuity (RILA) sales of $541 million, up from $490 million in the second quarter of 2022
- Total annuity account value of $227 billion increased 9% from the second quarter of 2022, driven largely by higher equity markets over the 12-month period
- Estimated Risk Based Capital ( RBC ) ratio at Jackson National Life Insurance Company as of the second quarter of 2023 was up from the first quarter of 2023 and within our target range of 425-500%
- Holding company assets (excluding equity in subsidiaries) of nearly $1.5 billion at the end of the second quarter, including cash and highly liquid securities of nearly $1 billion, significantly above Jackson’s 2023 targeted minimum liquidity buffer of 2x annual holding company expenses
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Jackson Financial Non-GAAP EPS of $3.34 misses by $0.15, revenue of $410M misses by $1.19B