Jackson Financial Inc. (JXN): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de los servicios financieros, Jackson Financial Inc. (JXN) se destaca como una potencia estratégica, revolucionando la planificación de la jubilación a través de su innovador lienzo de modelo de negocio. Al combinar a la perfección la tecnología de vanguardia, las soluciones financieras personalizadas y las asociaciones sólidas, JXN ha forjado un nicho único en el complejo panorama de los productos de jubilación e inversión. Su enfoque integral va más allá de los servicios financieros tradicionales, ofreciendo estrategias personalizadas que capacitan a profesionales, inversores e instituciones para asegurar su futuro financiero con confianza y flexibilidad.

Jackson Financial Inc. (JXN) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con agentes de seguros y asesores financieros independientes

Jackson Financial mantiene una red de aproximadamente 28,000 asesores financieros independientes a partir de 2023. Las asociaciones de distribución de la compañía incluyen:

Tipo de socio	Número de socios	Estructura de comisión
Agentes de seguros independientes	15,200	Compensación variable basada en la venta de productos
Asesores de inversiones registradas	12,800	Comisiones basadas en el rendimiento

Asociaciones con empresas de gestión de inversiones

Jackson Financial colabora con múltiples empresas de gestión de inversiones para mejorar sus ofertas de productos:

• Roca negra
• Vanguardia
• Inversiones de fidelidad
• Asesores globales de State Street

Activos totales bajo administración a través de estas asociaciones: $ 285.6 mil millones a partir del cuarto trimestre de 2023.

Colaboración con proveedores de tecnología

Socio tecnológico	Enfoque principal	Inversión anual
Salesforce	Plataforma CRM	$ 4.2 millones
Microsoft Azure	Infraestructura en la nube	$ 6.7 millones
Software de guía	Tecnología de seguro	$ 3.5 millones

Relaciones con compañías de reaseguros

Jackson Financial mantiene asociaciones de reaseguro para gestionar el riesgo:

• Munich re
• Swiss RE
• Hannover re
• SCOR Global Life

Cobertura de reaseguro total: $ 42.3 mil millones en 2023, con una tasa de transferencia de riesgo del 68%.

Jackson Financial Inc. (JXN) - Modelo de negocio: actividades clave

Diseño de productos de jubilación e inversión

Jackson Financial diseña productos de jubilación e inversión con un enfoque en anualidades variables. En 2023, la compañía reportó $ 43.1 mil millones en activos totales bajo administración.

Categoría de productos	Activos totales	Cuota de mercado
Anualidades variables	$ 32.7 mil millones	7.2%
Anualidades fijas	$ 10.4 mil millones	4.9%

Gestión de riesgos y servicios de asesoramiento financiero

Jackson Financial mantiene estrategias sólidas de gestión de riesgos con un equipo dedicado de gestión de riesgos de 127 profesionales.

• Inversiones de mitigación de riesgos totales: $ 215 millones en 2023
• Cobertura del programa de cobertura: 98.6% de las garantías de anualidades variables
• Inversión en tecnología de gestión de riesgos: $ 47.3 millones

Plataforma digital e innovación tecnológica

La compañía invirtió $ 62.5 millones en infraestructura de transformación digital y tecnología en 2023.

Área de inversión tecnológica	Gasto
Desarrollo de plataforma digital	$ 28.6 millones
Mejoras de ciberseguridad	$ 19.7 millones
AI y aprendizaje automático	$ 14.2 millones

Ventas y distribución de soluciones de anualidad y jubilación

Jackson Financial mantiene una red de distribución integral en los Estados Unidos.

• Representantes de ventas totales: 3,742
• Asociaciones independientes de corredor de bolsa: 187
• Ventas de anualidades totales en 2023: $ 8.3 mil millones

Cumplimiento regulatorio e informes financieros

La Compañía mantiene protocolos de cumplimiento estrictos con una inversión significativa en la adherencia regulatoria.

Métrico de cumplimiento	Valor
Tamaño del departamento de cumplimiento	214 empleados
Inversión de cumplimiento	$ 37.6 millones
Pases de auditoría regulatoria	100%

Jackson Financial Inc. (JXN) - Modelo de negocio: recursos clave

Equipo experimentado de gestión financiera

A partir del cuarto trimestre de 2023, Jackson Financial Inc. tiene un equipo de gestión con un promedio de 18.5 años de experiencia en servicios financieros. El equipo de liderazgo incluye:

Posición	Años de experiencia
CEO	22 años
director de Finanzas	17 años
Director de inversiones	19 años

Infraestructura de tecnología digital robusta

Métricas de inversión tecnológica a partir de 2023:

• Presupuesto de tecnología anual: $ 78.3 millones
• Usuarios de plataforma digital: 412,000
• Tasa de participación de la aplicación móvil: 64%
• Gasto de infraestructura en la nube: $ 22.6 millones

Fuerte reputación de la marca en la planificación de la jubilación

Métricas de reputación de la marca:

Métrico	Valor
Puntuación de satisfacción del cliente	4.6/5
Puntuación del promotor neto	72
Cuota de mercado en soluciones de jubilación	14.3%

Cartera integral de productos financieros

Desglose de la cartera de productos:

• Productos de jubilación total: 37
• Líneas de productos de anualidad: 12
• Ofertas de seguro de vida variable: 8
• Activos totales bajo administración: $ 268.5 mil millones

Capacidades avanzadas de gestión de riesgos

Inversión y métricas de gestión de riesgos:

Métrica de gestión de riesgos	Valor
Presupuesto anual de gestión de riesgos	$ 45.2 millones
Personal de cumplimiento	126 profesionales
Inversión en tecnología de mitigación de riesgos	$ 16.7 millones

Jackson Financial Inc. (JXN) - Modelo de negocio: propuestas de valor

Soluciones de ingresos de jubilación personalizadas

Jackson Financial ofrece estrategias personalizadas de ingresos de jubilación con $ 246.4 mil millones en activos totales bajo administración a partir del cuarto trimestre de 2023. La compañía proporciona soluciones personalizadas dirigidas a la planificación de la jubilación con un enfoque en la tolerancia al riesgo individual y los objetivos financieros.

Categoría de productos	Activos totales	Penetración del mercado
Soluciones de ingresos de jubilación	$ 98.7 mil millones	42% de la cartera total

Productos de ingresos de por vida garantizados

Jackson ofrece productos de anualidad con flujos de ingresos de por vida garantizados. En 2023, la compañía reportó $ 57.3 mil millones en reservas de anualidades y una cuota de mercado del 7.2% en el segmento de anualidades variables.

• Anualidades indexadas fijas: $ 23.1 mil millones en reservas
• Anualidades variables: $ 34.2 mil millones en reservas

Opciones de inversión flexibles para diversas necesidades del cliente

La compañía ofrece múltiples vehículos de inversión con $ 129.5 mil millones asignados en varios perfiles de riesgo y estrategias de inversión.

Tipo de inversión	Inversión total	Retorno promedio
Opciones de bajo riesgo	$ 42.6 mil millones	3.5%
Opciones de riesgo medio	$ 56.9 mil millones	5.7%
Opciones de alto riesgo	$ 30.0 mil millones	8.2%

Herramientas avanzadas de planificación financiera digital

Jackson invirtió $ 18.2 millones en infraestructura de tecnología digital en 2023, desarrollando plataformas integrales en línea con seguimiento de inversiones en tiempo real y análisis predictivo.

• Usuarios de aplicaciones móviles: 237,000
• Compromiso de la plataforma en línea: 68% de la base de clientes
• Presupuesto de desarrollo de herramientas digitales: $ 18.2 millones

Apoyo integral de planificación de jubilación

Jackson ofrece servicios de planificación de jubilación de extremo a extremo, que respalda a 412,000 clientes individuales con recursos de asesoramiento financiero integrales.

Categoría de servicio	Cobertura del cliente	Costo de soporte anual
Consulta de jubilación	412,000 clientes	$ 76.5 millones

Jackson Financial Inc. (JXN) - Modelo de negocio: relaciones con los clientes

Servicios de asesoramiento financiero personalizado

Jackson Financial ofrece servicios de asesoramiento personalizados con 247 asesores financieros dedicados a partir del cuarto trimestre de 2023. El valor promedio de la cartera de clientes es de $ 1.3 millones. La frecuencia de interacción del cliente promedia 4.2 consultas por año.

Métrica de servicio de asesoramiento	2023 datos
Asesores financieros totales	247
Valor promedio de cartera de clientes	$1,300,000
Consultas anuales al cliente	4.2

Plataformas de autoservicio digital

La plataforma digital de Jackson Financial es compatible $ 42.3 mil millones en activos administrados a través de interfaces en línea. El uso de la plataforma digital aumentó en un 37% en 2023.

• Usuarios de aplicaciones móviles: 186,000
• Penetración de gestión de cuentas en línea: 68%
• Volumen de transacción digital: 2.4 millones por trimestre

Atención al cliente y educación continuas

La infraestructura de atención al cliente incluye 312 representantes de soporte dedicados que manejan 92,000 interacciones de clientes mensualmente.

Métrico de soporte	2023 rendimiento
Representantes de apoyo	312
Interacciones mensuales del cliente	92,000
Tiempo de respuesta promedio	17 minutos

Revisión y consulta de cartera regular

Jackson Financial realiza revisiones integrales de cartera para 89% de su base de clientes anualmente, con una duración de revisión promedio de 2.1 horas.

Gestión de cuentas dedicada

Los clientes con carteras que exceden los $ 5 millones reciben administración de cuentas personalizada. Actualmente, 3.200 clientes califican para este servicio premium.

• Umbral de cartera de clientes premium: $ 5 millones
• Total Premium Cuenta Clientes: 3,200
• Relación del administrador de cuentas dedicado: 1:12

Jackson Financial Inc. (JXN) - Modelo de negocio: canales

Redes de agentes de seguros independientes

Jackson Financial mantiene una red de aproximadamente 50,000 agentes de seguros independientes a partir de 2023. Estos agentes distribuyeron $ 12.3 mil millones en productos de anualidad durante el año fiscal.

Tipo de canal	Número de agentes	Distribución total del producto
Agentes de seguros independientes	50,000	$ 12.3 mil millones

Plataforma directa de ventas en línea

La plataforma digital de la compañía generó $ 3.8 mil millones en ingresos de ventas directas en 2023, lo que representa el 22% del volumen total de ventas.

• Plataforma en línea lanzada en 2019
• Tasa de crecimiento de las ventas digitales: 15.6% año tras año
• Valor de transacción en línea promedio: $ 157,000

Redes de referencia de asesores financieros

Jackson Financial colabora con 18,500 asesores financieros registrados que generaron $ 9.2 mil millones en ventas de productos durante 2023.

Métricas de redes de asesor	2023 datos
Asesores financieros totales	18,500
Ventas totales de referencia	$ 9.2 mil millones

Equipo de ventas institucional

La división de ventas institucionales obtuvo $ 6.5 mil millones en nuevos contratos con clientes corporativos e institucionales en 2023.

• Número de representantes de ventas institucionales: 125
• Valor promedio del contrato: $ 52 millones
• Mercados objetivo: planes de jubilación, fondos de pensiones, 401 (k) proveedores

Marketing digital y compromiso basado en la web

Los esfuerzos de marketing digital generaron 38,000 clientes potenciales calificados en 2023, con una tasa de conversión del 17,4%.

Métricas de marketing digital	2023 rendimiento
Total de clientes potenciales calificados	38,000
Tasa de conversión de plomo	17.4%
Gasto de marketing digital	$ 4.3 millones

Jackson Financial Inc. (JXN) - Modelo de negocios: segmentos de clientes

Profesionales previos a la jubilación

Rango de edad objetivo: 40-55 años

Características de segmento	Puntos de datos
Rango de ingresos anuales	$85,000 - $250,000
Necesidad de ahorros de jubilación	$ 500,000 - $ 1.2 millones
Porcentaje del mercado objetivo	37.5%

Individuos en edad de jubilación

Rango de edad objetivo: 55-70 años

• Saldo promedio de la cuenta de jubilación: $ 426,070
• Ahorros medios de jubilación: $ 170,000
• Porcentaje de búsqueda de ingresos garantizados: 62%

Inversores de alto nivel de red

Métricas de segmento	Datos específicos
Patrimonio neto mínimo	$ 1 millón
Cartera de inversiones promedio	$ 3.2 millones
Porcentaje de AUM total	22%

Asesores e instituciones financieras

Canales de distribución de clave

• Broker-Dealers independientes: 45% de las asociaciones
• Asesores de inversiones registradas: 28% de las asociaciones
• Banco/canales de confianza: 17% de las asociaciones

Planificadores de jubilación de negocios pequeños a medianos

Categoría de tamaño del negocio	Conteo de empleados	Penetración del plan de jubilación
Pequeñas empresas	10-50 empleados	42%
Empresas medianas	51-250 empleados	68%

Jackson Financial Inc. (JXN) - Modelo de negocio: Estructura de costos

Desarrollo de productos e inversiones en tecnología

En el año fiscal 2023, Jackson Financial Inc. asignó $ 87.4 millones a las inversiones en tecnología y desarrollo de productos.

Categoría de costos	Cantidad ($ m)	Porcentaje de ingresos
Desarrollo de software	42.6	3.2%
Mejora de la plataforma digital	29.8	2.2%
Infraestructura de ciberseguridad	15.0	1.1%

Gastos de ventas y marketing

Los gastos de ventas y marketing de Jackson Financial para 2023 totalizaron $ 124.6 millones.

• Marketing digital: $ 38.2 millones
• Canal de ventas directas: $ 52.4 millones
• Broker/Comisiones de agentes independientes: $ 34.0 millones

Costos de cumplimiento regulatorio

Los gastos relacionados con el cumplimiento para 2023 ascendieron a $ 56.3 millones.

Área de cumplimiento	Costo ($ M)
Informes legales y regulatorios	24.7
Gestión de riesgos	18.5
Auditoría y controles internos	13.1

Compensación y capacitación de empleados

Los gastos totales relacionados con los empleados para 2023 fueron de $ 218.9 millones.

• Salarios base: $ 152.6 millones
• Bonos de rendimiento: $ 38.2 millones
• Capacitación y desarrollo de empleados: $ 12.4 millones
• Beneficios y seguros: $ 15.7 millones

Mantenimiento de la plataforma digital

Los costos de mantenimiento de la infraestructura digital para 2023 alcanzaron los $ 44.2 millones.

Categoría de mantenimiento	Costo ($ M)	Porcentaje de presupuesto tecnológico
Infraestructura en la nube	22.1	50%
Actualizaciones del sistema	12.6	28.5%
Apoyo técnico	9.5	21.5%

Jackson Financial Inc. (JXN) - Modelo de negocios: flujos de ingresos

Comisiones de ventas de productos de anualidad

Jackson Financial Inc. reportó comisiones de ventas de productos de anualidad de $ 378.6 millones para el año fiscal 2023.

Tipo de producto de anualidad	Ingresos por comisión
Anualidades fijas	$ 214.3 millones
Anualidades variables	$ 164.3 millones

Tarifas de gestión de inversiones

Las tarifas de gestión de inversiones para Jackson Financial Inc. totalizaron $ 456.2 millones en 2023.

• Gestión de inversiones institucionales: $ 276.4 millones
• Gestión de inversiones minoristas: $ 179.8 millones

Primas de productos de jubilación

Las primas del producto de jubilación generaron $ 612.5 millones en ingresos para la compañía en 2023.

Categoría de productos de jubilación	Ingresos premium
401 (k) Productos	$ 342.7 millones
Cuentas de jubilación individuales	$ 269.8 millones

Tarifas de servicio de asesoramiento

Las tarifas de servicio de asesoramiento alcanzaron $ 287.4 millones en 2023.

• Servicios de planificación financiera: $ 164.2 millones
• Servicios de planificación de jubilación: $ 123.2 millones

Ingresos de transacciones de plataforma digital

Los ingresos por transacciones de la plataforma digital ascendieron a $ 89.7 millones en 2023.

Servicio de plataforma digital	Ingresos por transacciones
Comercio en línea	$ 45.3 millones
Plataformas de inversión digital	$ 44.4 millones

Jackson Financial Inc. (JXN) - Canvas Business Model: Value Propositions

Retirement income security and wealth accumulation solutions

• Retail annuity sales totaled $5.4 billion in the third quarter of 2025.
• Total annuity assets under management (AUM) reached $252 billion as of December 31, 2024.
• PPM America AUM was $90.1 billion as of September 30, 2025.
• Adjusted operating return on equity attributable to common shareholders was 14% for the nine months ended September 30, 2025.

Diversified product suite to manage market volatility (RILA, VA, FIA)

You're looking at a clear shift in product focus, which is reflected in these sales numbers:

Product Category	Q3 2025 Sales Amount	Year-over-Year Growth
Registered Index-Linked Annuity (RILA)	$2.1 billion	28%
Variable Annuity (VA)	$2.9 billion	8%
Fixed and Fixed Index Annuity (FIA)	$444 million	Decrease of 57% from Q3 2024

The RILA account balance approached $18 billion at the end of Q3 2025.

Financial stability backed by over $5.3 billion in total adjusted capital

Jackson National Life Insurance Company's Statutory Total Adjusted Capital (TAC) ended the third quarter of 2025 at $5.6 billion. The estimated Risk-Based Capital (RBC) ratio at Jackson National Life Insurance Company ended Q3 2025 at an estimated 579%. This is substantially above the minimum target of 425%. Total common shareholders' equity was $9.7 billion as of September 30, 2025.

Clarity and simplification of complex retirement planning

• Jackson Financial Inc. is committed to helping clarify the complexity of retirement planning for financial professionals and their clients.
• The company strives to reduce the confusion that complicates retirement planning through its range of annuity products and streamlined experiences.
• The company returned $210 million to common shareholders in the third quarter of 2025.
• The full-year 2025 capital return target range is $700 million to $800 million, which the company expects to exceed.

Enhanced digital tools for financial professionals (Product Match Pro)

• The new Product Match Pro tool was launched to help financial professionals identify which Jackson product best aligns with a client's retirement planning goals.
• The tool provides personalized content and self-service enhancements on Jackson.com.
• Financial professionals can select up to a maximum of 99 investments and adjust options or allocations up to 25 times each contract year without transfer fees using some tools.

Finance: draft 13-week cash view by Friday.

Jackson Financial Inc. (JXN) - Canvas Business Model: Customer Relationships

You're focused on how Jackson Financial Inc. maintains its connection with the financial professionals who distribute its retirement solutions. The core of this is definitely an advisor-centric model, meaning the entire service structure is built around making the advisor's job easier and more effective.

This high-touch support is crucial in the complex annuity space. Jackson Financial Inc. emphasizes providing an adequate solution whether the advisor prefers a commission or fee based arrangement, which supports the growth of the Registered Investment Advisor (RIA) space. Advisory sales, for instance, were reported at an annual run rate of more than $1,000,000,000 over the twelve months ending in March 2025.

The commitment to the advisor channel is reflected in sales performance, which directly ties to the strength of these relationships. Consider the recent retail annuity sales figures:

Period	Total Retail Annuity Sales	Year-over-Year Change
Q1 2025	$4.0 billion	9% increase
Q2 2025	$4.4 billion	4% increase
Q3 2025 vs. Q2 2025	Not specified	22% increase in retail annuity sales

To bridge the gap between digital efficiency and personalized service, Jackson Financial Inc. supports its advisors with dedicated personnel. This structure ensures that when an advisor needs more than a platform can offer, local, tailored support is available.

The relationship is now a blend of digital efficiency and human interaction. Jackson Financial Inc. launched a new digital experience for financial professionals in July 2025, which includes specific tools designed to streamline business processes. The adoption rate for the digital platform saw a 10% increase in 2025.

Key digital and support elements include:

• Self-service digital platforms for tracking business and accessing resources.
• The Product Match Pro tool to align client needs with Jackson Financial Inc. products.
• The Find Your Wholesaler feature to connect professionals with local Jackson representatives for tailored support.
• A history of award-winning service, referencing the SQM Call Center Awards Program for 2004 and 2006-2024.

The overarching goal is fostering long-term, trust-based relationships for retirement planning, which is supported by the company's stated commitment to helping clarify the complexity of retirement planning for financial professionals and their clients. This focus on clarity and service is a key part of maintaining trust as the company navigates a market where the projected consensus EPS for 2025 is 20.55.

Proactive communication on market and product changes is embedded in this service model. The company routinely uses its investor relations website as a primary channel for disclosing key information, alongside press releases and SEC filings, ensuring advisors have access to the latest details to serve their clients effectively.

Finance: draft comparison of Q3 2025 advisor support costs versus Q3 2024 by Monday.

Jackson Financial Inc. (JXN) - Canvas Business Model: Channels

You're looking at how Jackson Financial Inc. gets its products-the annuities and spread products-into the hands of customers. Their distribution is definitely a multi-pronged approach, relying heavily on established relationships with financial professionals.

Independent Broker-Dealers and Wirehouses

This channel represents the traditional backbone for many annuity providers. Jackson Financial leverages its 'industry-leading distribution network' to reach advisors working within these large firms. While specific revenue splits by channel aren't always broken out this granularly in public filings, the overall health of this segment is reflected in the aggregate retail sales figures. For instance, retail annuity sales hit $4.0 billion in the first quarter of 2025 and then increased to $4.4 billion in the second quarter of 2025. This shows the continued flow of product through these established intermediaries.

Registered Investment Advisors (RIAs)

The focus on the RIA segment is clear, as Jackson Financial is actively engaged in this space. The growth rate for the independent RIA advisor count between year-end 2023 and year-end 2024 was reported at 8.7%. This segment is crucial for selling products like the Registered Index-Linked Annuity (RILA), which management noted now accounts for nearly one-third of total Retail Annuity sales as of Q2 2025. Variable annuity sales, another key product for advisors, reached $2.7 billion in Q1 2025.

Independent Marketing Organizations (IMOs)

IMOs act as specialized intermediaries, helping to onboard and support a large network of independent agents and advisors. Jackson Financial's commitment to a 'well-known brand among distributors and advisors' suggests a strong reliance on these organizations to efficiently scale their reach beyond direct relationships. The company's strategy emphasizes diversification across its product mix, which IMOs help facilitate by presenting a broader suite of offerings to their respective advisor pools.

Direct digital portal for financial professionals

While the search results emphasize the use of the investor relations website for investor disclosures, the underlying technology supporting advisor engagement is key. Jackson Financial points to 'streamlined experiences' as part of its value proposition, which implies a digital interface for professionals to manage business. The ongoing investment in 'distribution technology' mentioned by management supports this digital channel, aiming to make it easier for advisors to transact and service business.

Institutional sales team for spread products

This team targets a different client base, focusing on institutional fixed-income assets, often through PPM America, Inc. (PPM), the asset management subsidiary. This channel is distinct from retail annuity sales. The Institutional Products segment showed strong performance, with pretax adjusted operating earnings of $31 million in the third quarter of 2025. The total account value for this segment stood at $10.9 billion as of September 30, 2025, a significant increase from $7.9 billion in the third quarter of 2024. Net flows into this area were $447 million in Q3 2025.

Here's a quick look at the latest quantified segment performance metrics as of late 2025:

Channel/Segment Focus	Key Metric	Latest Reported Value (2025)
Retail Annuity Sales (Aggregate)	Q2 2025 Sales	$4.4 billion
RILA Sales (Part of Retail)	Share of Total Retail Annuity Sales	Nearly one-third
Institutional Products (Spread Products)	Total Account Value (as of 9/30/2025)	$10.9 billion
Institutional Products (Spread Products)	Q3 2025 Net Flows	$447 million
Asset Management (PPM AUM)	AUM (as of 9/30/2025)	$90.1 billion

The overall distribution strength is supported by the scale of the asset management arm; PPM's AUM reached $90.1 billion as of September 30, 2025, which is up 18% from the third quarter of 2024. This scale helps support the spread products offered through the institutional team.

You should review the Q3 2025 Investor Presentation to see if management provided a more detailed breakdown of the $4.4 billion in Q2 retail sales across the Broker-Dealer, RIA, and IMO channels, as that level of detail is often reserved for supplemental materials. Finance: draft 13-week cash view by Friday.

Jackson Financial Inc. (JXN) - Canvas Business Model: Customer Segments

You're looking at the core client base for Jackson Financial Inc. (JXN) as of late 2025. Honestly, the business model clearly segments its focus across the distribution channel and the end-client need, which is smart for an annuities-focused firm.

Mass affluent and affluent retail investors nearing retirement

This group drives the bulk of the new money flow, primarily through the annuity suite. We see this in the sales figures. For the third quarter of 2025, total retail annuity sales hit $5.4 billion, which was up 2% compared to the third quarter of 2024. This segment is clearly leaning into products offering protection and growth, as evidenced by the Registered Index-Linked Annuity (RILA) sales, which were a record $2.1 billion in Q3 2025, marking a 28% jump from the prior year's third quarter. That's a concrete signal about what these near-retirees want right now.

The product mix for this segment in Q3 2025 looked like this:

• Variable annuity sales: $2.9 billion.
• Record RILA sales: $2.1 billion.
• Fixed and fixed index annuity sales: $444 million.

Financial professionals (advisors) who distribute the products

This is a critical intermediary segment; they are the gatekeepers to the retail dollars. Jackson Financial Inc. is committed to helping clarify retirement planning for these professionals and their clients. While we don't have a count of the total advisors, we can look at the institutional side, which is heavily supported by their asset management arm, PPM America, Inc. (PPM). The success in institutional sales suggests strong relationships with sophisticated financial entities that use PPM's capabilities.

Institutional clients seeking spread-lending products

This segment is showing significant traction, likely driven by PPM America's ability to source higher-yielding assets to support spread-based products. The growth here is impressive over the nine-month period ending September 30, 2025. Sales were up 142% to $3.5 billion for the nine months ended September 30, 2025, compared to the same period in 2024. For just the third quarter of 2025, institutional sales reached $1 billion, a 34% increase year-over-year. PPM's Assets Under Management (AUM) reflects this success, hitting $90.1 billion as of September 30, 2025, which is an 18% increase from the third quarter of 2024. That's defintely a key growth engine.

Existing policyholders in the Closed Life and Annuity Blocks segment

This block represents the legacy business, which is managed for capital efficiency and spread income, rather than new sales growth. The segment's pretax adjusted operating income was $15 million in the third quarter of 2025, an improvement from $7 million in the third quarter of 2024. In the second quarter of 2025, the income was $22 million, down from $35 million in the year-ago quarter. This segment is managed for the spread income it generates on the in-force business, which is a steady, albeit fluctuating, source of earnings.

Individuals seeking guaranteed lifetime income solutions

This is the core value proposition for many of Jackson Financial Inc.'s products, particularly the variable annuities with living benefits and RILAs. The total retail annuity sales of $5.4 billion in Q3 2025 speak to the ongoing demand from individuals prioritizing guaranteed income streams as they approach or enter retirement. The company's total assets as of September 30, 2025, stood at $353.558B, representing the pool of assets supporting these guarantees.

Here's a quick look at the scale of the business supporting these segments as of the third quarter of 2025:

Metric	Value (Q3 2025)	Comparison/Context
Total Assets	$353.558B	As of September 30, 2025.
PPM AUM	$90.1 billion	Up 18% from Q3 2024.
Total Retail Annuity Sales	$5.4 billion	For the quarter.
Institutional Sales (YTD)	$3.5 billion	Up 142% for the nine months ended September 30, 2025.
Closed Life & Annuity Blocks Income	$15 million	Pretax adjusted operating income for Q3 2025.

Finance: draft 13-week cash view by Friday.

Jackson Financial Inc. (JXN) - Canvas Business Model: Cost Structure

You're looking at the cost side of Jackson Financial Inc.'s business, which is heavily weighted toward fulfilling promises made to policyholders. For an insurer and annuity provider, the largest costs are inherently tied to the products themselves, not just overhead.

The most significant cost component is Policyholder benefits and claims. Looking at the balance sheet as of September 30, 2025, the Reserves for future policy benefits and claims payable stood at $10,912 million. This number reflects the massive liability Jackson Financial carries to cover future payouts on its in-force annuity contracts. To give you a sense of the drivers affecting this, policyholder behavior in Q3 2025 showed an all-in surrender rate composed of:

• Full surrenders: 7%
• Withdrawals: 4%
• Death benefits: 1%

This surrender rate uptick was influenced by strong equity market returns.

Next up are Distribution expenses, which fund the sales force that brings in the premiums. While I don't have the exact commission expense for Q3 2025, we can gauge the scale of the activity driving these costs. Retail annuity sales for the third quarter of 2025 reached $5.4 billion. That's a lot of product moving through the distribution channels, including record Registered Index-Linked Annuity (RILA) sales of $2.1 billion in that same quarter.

For General and administrative (G&A) expenses, the impact is often seen within the Corporate and Other segment, which houses corporate overhead. For the third quarter of 2025, the pretax adjusted operating loss for Corporate and Other was $(35) million. Honestly, that loss was actually an improvement, as it was primarily due to lower general and administrative expense compared to the $(71) million loss reported in the third quarter of 2024. The total Non-interest Expense for the nine months ending September 30, 2025, was reported as $4.29 billion, though this aggregates many costs beyond just G&A.

Regarding Investment in technology and digital platform development, direct spending figures aren't explicitly broken out in the high-level summaries, but the results show where capabilities are being added. The growth in Institutional sales, which hit $1 billion in Q3 2025, is supported by capabilities added at PPM America, Inc. (PPM), their asset management subsidiary, to source higher yielding assets. This suggests ongoing investment in the infrastructure supporting these specialized product capabilities.

Finally, costs associated with the proprietary hedging program are critical for managing the risk embedded in variable and RILA products. For the third quarter of 2025, Jackson Financial reported a $14 million net loss on hedging instruments supporting the variable annuity and RILA businesses, largely due to equity market movements. This contrasts with the second quarter of 2025, where the hedging program reported a consolidated net hedge gain of $61,000,000. It's definitely a volatile line item, directly tied to market performance.

Here's a quick look at some key Q3 2025 financial metrics related to the cost and earnings structure:

Metric	Amount (Q3 2025)	Context/Period
Reserves for future policy benefits and claims payable	$10,912 million	Balance Sheet as of September 30, 2025
Retail Annuity Sales	$5.4 billion	Q3 2025 Sales Volume
Corporate and Other Pretax Adjusted Operating Loss (due to lower G&A)	$(35) million	Q3 2025
Net Hedging Loss (Variable Annuity/RILA)	$14 million	Q3 2025
Adjusted Operating Earnings (Consolidated)	$433 million	Q3 2025

Jackson Financial Inc. (JXN) - Canvas Business Model: Revenue Streams

You're looking at how Jackson Financial Inc. actually brings in the money, which is almost entirely through selling and managing annuities. Their revenue streams are clearly segmented between retail and institutional channels, with income derived from both asset management fees and the spread earned on their investment portfolios.

The core of the revenue generation is tied directly to the volume of annuity products sold and the total Assets Under Management (AUM) they maintain. For the twelve months ended September 30, 2025, Jackson Financial Inc. reported total revenue of $4.920 billion.

Here is a breakdown of the key components driving that revenue, focusing on the third quarter of 2025 performance:

• Fee income from variable annuity Assets Under Management (AUM). This income stream saw a positive lift in Q3 2025, with average variable annuity balances increasing by $10 billion from the second quarter, supporting an 8% quarter over quarter increase in third-quarter fee income.
• Spread income from Registered Index-Linked Annuities (RILA) and fixed products. Growth in average RILA AUM was a primary driver for higher spread income contributing to the Retail Annuities segment's pretax adjusted operating earnings of $494 million in Q3 2025.

The sales figures for the third quarter ended September 30, 2025, show the immediate top-line contribution from new business:

Revenue Source	Q3 2025 Sales Amount
Retail annuity sales	$5.4 billion
Institutional sales	$1 billion

Digging into the retail sales, you can see the product mix that generated the $5.4 billion in retail annuity sales for the third quarter of 2025:

• Variable annuity sales were $2.9 billion in the third quarter of 2025, marking an 8% increase from the third quarter of 2024.
• Record registered index-linked annuity (RILA) sales hit $2.1 billion in the third quarter of 2025, which was up 28% from the third quarter of 2024.
• Fixed and fixed index annuity sales were $444 million in the third quarter of 2025.

The Institutional segment also contributed significantly, with sales reaching $1 billion in the third quarter of 2025, which was up 34% compared to the third quarter of 2024. This segment's performance is supported by capabilities added at PPM America, Inc. (PPM), Jackson Financial Inc.'s asset management subsidiary, to source higher yielding assets. The Institutional Products segment reported pretax adjusted operating earnings of $31 million in Q3 2025, driven by higher spread income reflecting significant AUM growth.

Here's a quick look at the drivers for the Retail Annuities segment's pretax adjusted operating earnings of $494 million in Q3 2025:

• Higher spread income from growth in average RILA AUM.
• Higher fee income from growth in average variable annuity AUM.