# Jackson Financial Inc.

Summary updated: 2026-03-18T15:32:27.634023Z
Canonical: https://finbar.com/research/companies/jackson-financial-inc

## Overview

Jackson Financial Inc. is a U.S.-focused financial services and insurance company centered on retirement savings and income solutions. Through Jackson National Life Insurance Company and its subsidiaries, it sells annuity products including variable, registered index-linked, fixed index, fixed and payout annuities, and it also serves institutional clients through guaranteed investment contracts, funding agreements and medium-term note funding agreements. The company reports three core business segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks; the closed blocks include acquired life insurance and older annuity business, while new life insurance sales were discontinued in 2012. [1](https://app.finbar.com/go?id=P-7ddf6c3f4ce34ac7888e0f38a0f27924)[2](https://app.finbar.com/go?id=P-3ff6f7c4902448aa9d465920582c3b5f)[3](https://app.finbar.com/go?id=P-3afa16c8303c4296b26e60f73677645e)[4](https://app.finbar.com/go?id=P-886a8a037e6c46f9a65bdc3e2e0e0bda)[5](https://app.finbar.com/go?id=P-617b077b3a8a43fd94dc832ba36877d9)[6](https://app.finbar.com/go?id=P-4a631735355948f6ac968fe644b1c4b5)

Jackson describes its mission as helping Americans grow and protect their retirement savings and income so they can pursue “financial freedom for life.” The company is primarily domestic in scope: it is headquartered in Lansing, Michigan, with additional offices in Franklin, Tennessee and Chicago, Illinois; its insurance subsidiaries are licensed in all 50 U.S. states and the District of Columbia, and substantially all of its revenue is generated in the U.S. Jackson National Life was founded in Jackson, Michigan in 1961, and in 2024 Jackson reported total operating revenues of $6.97 billion and approximately 3,970 associates.

[7](https://app.finbar.com/go?id=P-77774dd1a4b94f12a502735385d9ac4b)[8](https://app.finbar.com/go?id=P-a743a47407b7431692cc1b045ae3f6b4)[9](https://app.finbar.com/go?id=P-bc284b6f0c5a41d882ca26bee0de48a9)[10](https://app.finbar.com/go?id=T-2c0e12d3cb0a4f6397ba9cd2f246a8c4)[11](https://app.finbar.com/go?id=P-8c4a07f21e844d7cacb90ca5bbb096cf)

## Products & services

Jackson Financial’s product set is centered on annuities, particularly variable annuities, registered index-linked annuities, fixed index annuities, fixed annuities, and payout annuities. Its variable annuity lineup includes the flagship Perspective II and the investment-only Elite Access product. Jackson describes its variable annuities as offering full participation in market returns through a broad selection of equity and fixed-income funds, with optional benefits designed to provide guaranteed minimum protection against market volatility and investment performance risk. Perspective II can be purchased without guaranteed living benefits, while Elite Access is specifically structured without GMWB, GMWB for Life, or Enhanced GMDB features. Optional riders include GMWB, which allows annual withdrawals up to a maximum benefit-base amount that can cumulatively exceed account value; GMWB for Life, which guarantees annual withdrawals for life regardless of account performance; and Enhanced GMDB, which guarantees a minimum death benefit for beneficiaries that can exceed account value [12](https://app.finbar.com/go?id=P-2553aa4a84b141329fda8017707e2a92)[13](https://app.finbar.com/go?id=P-c9299fc2267f486ca8b44b68d9a8731e)[14](https://app.finbar.com/go?id=P-e3402998a13841b4977777b3fdbe3f98)[15](https://app.finbar.com/go?id=P-09b55cafe60e4c1e9e4c14ddd8bf27ae)[16](https://app.finbar.com/go?id=P-00cc6b83e79443cead46612addbf2b80).

Its registered index-linked annuity suite includes Jackson Market Link Pro, Jackson Market Link Pro Advisory, Jackson Market Link Pro II, and Jackson Market Link Pro Advisory II. These products give customers market index-linked returns subject to a cap and offer configurable combinations of crediting strategies, index options, term lengths, and downside protection through either floors or buffers; floors set a maximum loss level borne by the customer, while losses beyond that threshold are borne by Jackson, whereas buffers absorb an initial band of losses and leave losses beyond the buffer to the customer. The RILA products generally include a guaranteed minimum death benefit and an optional guaranteed lifetime withdrawal feature. Jackson’s fixed index annuities combine a guaranteed minimum crediting rate with the option to allocate assets either to fixed accounts or to indexed funds tied to reference indexes such as the S&P 500 or MSCI EAFE, subject to a cap, and they also offer an optional lifetime-payment benefit. Its fixed annuities include traditional fixed annuities and multi-year guaranteed annuities with three different guaranteed crediting-rate periods; these products can be annuitized or converted into payout annuities, which are designed to provide minimum payments for life and minimum payments to beneficiaries upon death [17](https://app.finbar.com/go?id=P-15928feee4a948958b3e86fab6500c32)[18](https://app.finbar.com/go?id=P-dd42c2200b7e477f9706a25b1b96f895)[19](https://app.finbar.com/go?id=P-71f12fd031344fe1b99e431a999ea14b)[20](https://app.finbar.com/go?id=P-3a51788d936f40b4a81fc8a987558800).

Beyond retail annuities, Jackson offers institutional products including traditional guaranteed investment contracts, funding agreements, funding agreements issued through the FHLB program, and medium-term funding agreement-backed notes. These products are marketed to defined contribution pension and profit-sharing plans, institutional investors such as corporate cash accounts, securities-lending funds and money market funds, and the FHLB, and generally guarantee principal plus fixed or floating-rate interest over terms of two to ten years [5](https://app.finbar.com/go?id=P-617b077b3a8a43fd94dc832ba36877d9)[21](https://app.finbar.com/go?id=P-2bc696c57d294362b58d2bd2e4caa9f0). In 2024, Jackson’s disclosed new business mix was 53% variable annuities, 24% RILA, 14% institutional products, and 9% fixed annuities/fixed index annuities; disclosed sales dollars were $10.561 billion for variable annuities, $5.674 billion for RILA, $2.000 billion for institutional products, $1.433 billion for fixed annuities, and $0.181 billion for fixed index annuities [22](https://app.finbar.com/go?id=T-5233b4f2fe2d4564a5d7b8e0f9ab49d7)[23](https://app.finbar.com/go?id=P-1003d370160b4a7a8d9accb6e97146ca).

## Geographic presence

Jackson Financial’s operations and sales are concentrated in the United States. The company states that substantially all of its revenues originated in the U.S., and its insurance subsidiaries are licensed to distribute insurance products in all 50 states and the District of Columbia. Its principal executive offices are at 1 Corporate Way, Lansing, Michigan 48951, and the company says it is headquartered in Lansing, Michigan, with additional offices in Franklin, Tennessee and Chicago, Illinois. [9](https://app.finbar.com/go?id=P-bc284b6f0c5a41d882ca26bee0de48a9)[8](https://app.finbar.com/go?id=P-a743a47407b7431692cc1b045ae3f6b4)[24](https://app.finbar.com/go?id=P-071cb28603d64ea0a05ae5a1ffb43f4a)

Jackson owns and occupies its corporate headquarters campus and related properties in Lansing, Michigan, as well as its regional headquarters in Franklin, Tennessee. It also leases offices in the District of Columbia, Chicago and Schaumburg, Illinois, and East Lansing and Lansing, Michigan. The company notes that all of its offices include operations across all of its reportable segments.

[25](https://app.finbar.com/go?id=P-10495b275a764554a47e388ecc49783e)[26](https://app.finbar.com/go?id=P-78278c78f8e7446fbe88eccc2a16f8ca)[27](https://app.finbar.com/go?id=P-fda58dc982244fa1a269d6e15f2aa8a1)[28](https://app.finbar.com/go?id=P-536e25d1376e40678e2ebe12618d5465)[29](https://app.finbar.com/go?id=P-cf69019e7be342e88a66be0597fa5fb3)[30](https://app.finbar.com/go?id=P-ec6734fc4fb8496b82312f2d08b6d282)[31](https://app.finbar.com/go?id=P-572f86e31b3a4416a5203a8db27187cf)

## Business segments

Jackson Financial officially reports three business segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. It also presents Corporate and Other for activities not included in the reportable segments, including PPM, certain variable interest entities, unallocated corporate items, and eliminations/consolidation adjustments.[3](https://app.finbar.com/go?id=P-3afa16c8303c4296b26e60f73677645e)[32](https://app.finbar.com/go?id=P-b4a73bc4aefc4ced91dc18a1c41a725c) Retail Annuities is the core segment and focuses on retirement income and savings products, principally variable annuities, registered index-linked annuities, fixed index annuities, fixed annuities, and payout annuities.[4](https://app.finbar.com/go?id=P-886a8a037e6c46f9a65bdc3e2e0e0bda) Institutional Products focuses on guaranteed investment contracts, funding agreements, and medium-term note funding agreements for defined contribution plans and institutional investors.[5](https://app.finbar.com/go?id=P-617b077b3a8a43fd94dc832ba36877d9) Closed Life and Annuity Blocks consists of acquired blocks of business, including protection products and fixed, fixed index, and payout annuities; Jackson notes it has not sold new life products since 2012.[6](https://app.finbar.com/go?id=P-4a631735355948f6ac968fe644b1c4b5)

Based on 2024 segment operating revenues, Retail Annuities contributed about 76% of the total, Closed Life and Annuity Blocks about 18%, Institutional Products about 6%, and Corporate and Other less than 1%.[33](https://app.finbar.com/go?id=T-7c444245403f4929afb26e9c16ec6ae6)[34](https://app.finbar.com/go?id=T-d59c249856e746c78de3278cd40c17f8)[35](https://app.finbar.com/go?id=T-256434ab475441e8b2dea5457e1dc135)[36](https://app.finbar.com/go?id=T-eb959e83804c4685b70428ef6e698d0f) On a pretax adjusted operating earnings basis, the mix was even more concentrated in Retail Annuities at roughly 111% of the total, with Institutional Products at about 6%, while Closed Life and Annuity Blocks and Corporate and Other were modestly negative contributors at about -1% and -16%, respectively.[37](https://app.finbar.com/go?id=T-a73633d0ddf640aa92e051b9fb190346) A separate, narrower product-flow view in the account-value roll-forwards shows that disclosed 2024 premiums and deposits were concentrated in Retail Annuities at about 90%, with Institutional Products accounting for about 10%; this measure is not presented for Closed Life and Annuity Blocks or Corporate and Other.

[38](https://app.finbar.com/go?id=T-a7741951ea8d40adaa381b8dc5541940)

## Company history

Jackson Financial traces its roots to Jackson National Life Insurance Company, which was founded in Jackson, Michigan in 1961 and began business later that year.[39](https://app.finbar.com/go?id=P-9bebfe0fccbd4dde8e86254c906576f9)[40](https://s202.q4cdn.com/231638402/files/doc_downloads/annual/2025/Jackson-National-LIfe-Insurance-Company-4Q-2024-Statutory-Statement.pdf) Prudential plc acquired Jackson in 1986, after which the insurer spent decades as part of Prudential’s U.S. operations and grew from a regional life carrier into a broader retirement and annuity business.[41](https://www.fundinguniverse.com/company-histories/jackson-national-life-insurance-company-history/)[42](https://www.prudentialplc.com/en/about-us/our-history/timeline)

Jackson Financial Inc. later became Prudential’s U.S. holding company, and its demerger from Prudential was completed on September 13, 2021, when Jackson became an independent public company.[43](https://app.finbar.com/go?id=P-22a74fad44fd4f17b6e7acd787f7d1d6)[44](https://app.finbar.com/go?id=P-dfc05d464b0d4a328917e311ee05cc13) Ahead of that separation, Laura Prieskorn was appointed chief executive officer in February 2021 as Jackson put in place leadership for the standalone company.

[45](https://www.prudentialplc.com/en/newsroom/company-news/2021/prudential-plc-update-on-leadership-of-jackson)[46](https://investors.jackson.com/governance/board-of-directors/person-details/default.aspx?ItemId=af584665-4756-4df5-950e-c5d6591d017f)

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2. [Jackson Financial Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-3ff6f7c4902448aa9d465920582c3b5f)
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