Jackson Financial Inc. (JXN): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos serviços financeiros, a Jackson Financial Inc. (JXN) se destaca como uma potência estratégica, revolucionando o planejamento da aposentadoria por meio de sua inovadora tela de modelo de negócios. Ao misturar perfeitamente a tecnologia de ponta, soluções financeiras personalizadas e parcerias robustas, a JXN criou um nicho único no cenário complexo de produtos de aposentadoria e investimento. Sua abordagem abrangente vai além dos serviços financeiros tradicionais, oferecendo estratégias personalizadas que capacitam profissionais, investidores e instituições a garantir seus futuros financeiros com confiança e flexibilidade.

Jackson Financial Inc. (JXN) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com agentes de seguros independentes e consultores financeiros

Jackson Financial mantém uma rede de aproximadamente 28.000 consultores financeiros independentes a partir de 2023. As parcerias de distribuição da empresa incluem:

Tipo de parceiro	Número de parceiros	Estrutura da comissão
Agentes de seguros independentes	15,200	Compensação variável com base nas vendas de produtos
Consultores de investimento registrados	12,800	Comissões baseadas em desempenho

Parcerias com empresas de gerenciamento de investimentos

Jackson Financial colabora com várias empresas de gerenciamento de investimentos para aprimorar suas ofertas de produtos:

• BlackRock
• Vanguarda
• Fidelity Investments
• Conselheiros Globais da State Street

Total de ativos sob gestão através dessas parcerias: US $ 285,6 bilhões a partir do quarto trimestre 2023.

Colaboração com provedores de tecnologia

Parceiro de tecnologia	Foco primário	Investimento anual
Salesforce	Plataforma CRM	US $ 4,2 milhões
Microsoft Azure	Infraestrutura em nuvem	US $ 6,7 milhões
Software Guidewire	Tecnologia de seguro	US $ 3,5 milhões

Relacionamentos com empresas de resseguro

Jackson Financial mantém parcerias de resseguros para gerenciar riscos:

• Munique re
• Swiss Re
• Hannover re
• Scor Global Life

Cobertura total de resseguros: US $ 42,3 bilhões em 2023, com uma taxa de transferência de risco de 68%.

Jackson Financial Inc. (JXN) - Modelo de Negócios: Atividades -chave

Aposentadoria e design de produtos de investimento

Jackson Financial Designs Aposentadoria e Produtos de Investimento, com foco em anuidades variáveis. Em 2023, a empresa registrou US $ 43,1 bilhões em ativos totais sob gestão.

Categoria de produto	Total de ativos	Quota de mercado
Anuidades variáveis	US $ 32,7 bilhões	7.2%
Anuidades fixas	US $ 10,4 bilhões	4.9%

Gerenciamento de riscos e serviços de consultoria financeira

Jackson Financial mantém estratégias robustas de gerenciamento de riscos com uma equipe dedicada de gerenciamento de riscos de 127 profissionais.

• Investimentos totais de mitigação de risco: US $ 215 milhões em 2023
• Cobertura do programa de hedge: 98,6% das garantias de anuidade variáveis
• Investimento em tecnologia de gerenciamento de riscos: US $ 47,3 milhões

Plataforma digital e inovação tecnológica

A empresa investiu US $ 62,5 milhões em infraestrutura de transformação e tecnologia digital em 2023.

Área de investimento em tecnologia	Gastos
Desenvolvimento da plataforma digital	US $ 28,6 milhões
Aprimoramentos de segurança cibernética	US $ 19,7 milhões
AI e aprendizado de máquina	US $ 14,2 milhões

Vendas e distribuição de soluções de anuidade e aposentadoria

Jackson Financial mantém uma rede de distribuição abrangente nos Estados Unidos.

• Representantes de vendas totais: 3.742
• Parcerias independentes de corretores: 187
• Vendas totais de anuidade em 2023: US $ 8,3 bilhões

Conformidade regulatória e relatórios financeiros

A Companhia mantém protocolos estritos de conformidade com investimento significativo na adesão regulatória.

Métrica de conformidade	Valor
Tamanho do departamento de conformidade	214 funcionários
Investimento de conformidade	US $ 37,6 milhões
Auditoria regulatória passa	100%

Jackson Financial Inc. (JXN) - Modelo de negócios: Recursos -chave

Equipe de gestão financeira experiente

A partir do quarto trimestre de 2023, a Jackson Financial Inc. possui uma equipe de gerenciamento com uma média de 18,5 anos de experiência em serviços financeiros. A equipe de liderança inclui:

Posição	Anos de experiência
CEO	22 anos
Diretor Financeiro	17 anos
Diretor de Investimento	19 anos

Infraestrutura de tecnologia digital robusta

Métricas de investimento em tecnologia em 2023:

• Orçamento de tecnologia anual: US $ 78,3 milhões
• Usuários da plataforma digital: 412.000
• Taxa de envolvimento de aplicativos móveis: 64%
• Gastos da infraestrutura em nuvem: US $ 22,6 milhões

Forte reputação da marca no planejamento da aposentadoria

Métricas de reputação da marca:

Métrica	Valor
Pontuação de satisfação do cliente	4.6/5
Pontuação do promotor líquido	72
Participação de mercado nas soluções de aposentadoria	14.3%

Portfólio de produtos financeiros abrangentes

Breakdown do portfólio de produtos:

• Produtos totais de aposentadoria: 37
• Anuidade Linhas de produtos: 12
• Ofertas de seguro de vida variáveis: 8
• Total de ativos sob gestão: US $ 268,5 bilhões

Capacidades avançadas de gerenciamento de riscos

Investimento de gerenciamento de riscos e métricas:

Métrica de gerenciamento de riscos	Valor
Orçamento anual de gerenciamento de riscos	US $ 45,2 milhões
Equipe de conformidade	126 profissionais
Investimento em tecnologia de mitigação de risco	US $ 16,7 milhões

Jackson Financial Inc. (JXN) - Modelo de Negócios: Proposições de Valor

Soluções de renda de aposentadoria personalizadas

A Jackson Financial oferece estratégias personalizadas de renda de aposentadoria com US $ 246,4 bilhões em ativos totais sob a administração a partir do quarto trimestre 2023. A empresa fornece soluções personalizadas direcionadas ao planejamento da aposentadoria, com foco na tolerância a riscos individuais e nas metas financeiras.

Categoria de produto	Total de ativos	Penetração de mercado
Soluções de renda de aposentadoria	US $ 98,7 bilhões	42% do portfólio total

Produtos de renda vitalícia garantida

Jackson oferece produtos de anuidade com fluxos de renda da vida garantida. Em 2023, a empresa registrou US $ 57,3 bilhões em reservas de anuidades e uma participação de mercado de 7,2% no segmento de anuidade variável.

• Anuidades indexadas fixas: US $ 23,1 bilhões em reservas
• Anuidades variáveis: US $ 34,2 bilhões em reservas

Opções de investimento flexíveis para diversas necessidades de clientes

A empresa fornece vários veículos de investimento com US $ 129,5 bilhões alocados em vários perfis de risco e estratégias de investimento.

Tipo de investimento	Investimento total	Retorno médio
Opções de baixo risco	US $ 42,6 bilhões	3.5%
Opções de médio risco	US $ 56,9 bilhões	5.7%
Opções de alto risco	US $ 30,0 bilhões	8.2%

Ferramentas avançadas de planejamento financeiro digital

Jackson investiu US $ 18,2 milhões em infraestrutura de tecnologia digital em 2023, desenvolvendo plataformas on-line abrangentes com rastreamento de investimentos em tempo real e análise preditiva.

• Usuários de aplicativos móveis: 237.000
• Engajamento da plataforma on -line: 68% da base de clientes
• Orçamento de desenvolvimento de ferramentas digitais: US $ 18,2 milhões

Suporte abrangente de planejamento de aposentadoria

Jackson fornece serviços de planejamento de aposentadoria de ponta a ponta, apoiando 412.000 clientes individuais com recursos abrangentes de consultoria financeira.

Categoria de serviço	Cobertura do cliente	Custo de suporte anual
Consulta de aposentadoria	412.000 clientes	US $ 76,5 milhões

Jackson Financial Inc. (JXN) - Modelo de Negócios: Relacionamentos do Cliente

Serviços de Consultoria Financeira Personalizada

A Jackson Financial oferece serviços de consultoria personalizados com 247 consultores financeiros dedicados a partir do quarto trimestre 2023. O valor médio da carteira de clientes é de US $ 1,3 milhão. A frequência de interação do cliente é de 4,2 consultas por ano.

Métrica do Serviço de Consultoria	2023 dados
Total de consultores financeiros	247
Valor médio do portfólio de clientes	$1,300,000
Consultas anuais do cliente	4.2

Plataformas de autoatendimento digital

Suportes de plataforma digital da Jackson Financial US $ 42,3 bilhões Em ativos gerenciados através de interfaces on -line. O uso da plataforma digital aumentou 37% em 2023.

• Usuários de aplicativos móveis: 186.000
• Gerenciamento de contas on -line Penetração: 68%
• Volume de transação digital: 2,4 milhões por trimestre

Suporte e educação em andamento

A infraestrutura de suporte ao cliente inclui 312 representantes de suporte dedicado lidando com 92.000 interações com o cliente mensalmente.

Métrica de suporte	2023 desempenho
Representantes de apoio	312
Interações mensais do cliente	92,000
Tempo médio de resposta	17 minutos

Revisão e consulta regulares de portfólio

Jackson Financial conduz revisões abrangentes de portfólio para 89% de sua base de clientes anualmente, com uma duração média de revisão de 2,1 horas.

Gerenciamento de conta dedicado

Clientes com portfólios superiores a US $ 5 milhões recebem gerenciamento de contas personalizado. Atualmente, 3.200 clientes se qualificam para este serviço premium.

• Limite de portfólio de clientes premium: US $ 5 milhões
• Clientes totais de contas premium: 3.200
• Razão de gerente de contas dedicado: 1:12

Jackson Financial Inc. (JXN) - Modelo de Negócios: Canais

Redes de agentes de seguros independentes

Jackson Financial mantém uma rede de aproximadamente 50.000 agentes de seguros independentes em 2023. Esses agentes distribuíram US $ 12,3 bilhões em produtos de anuidade durante o ano fiscal.

Tipo de canal	Número de agentes	Distribuição total do produto
Agentes de seguros independentes	50,000	US $ 12,3 bilhões

Plataforma de vendas on -line direta

A plataforma digital da empresa gerou US $ 3,8 bilhões em receita direta de vendas em 2023, representando 22% do volume total de vendas.

• Plataforma online lançada em 2019
• Taxa de crescimento de vendas digitais: 15,6% ano a ano
• Valor médio da transação online: $ 157.000

Redes de referência de consultor financeiro

A Jackson Financial colabora com 18.500 consultores financeiros registrados que geraram US $ 9,2 bilhões em vendas de produtos durante 2023.

Métricas de Rede de Advisor	2023 dados
Total de consultores financeiros	18,500
Vendas totais de referência	US $ 9,2 bilhões

Equipe de vendas institucional

A Divisão de Vendas Institucional garantiu US $ 6,5 bilhões em novos contratos com clientes corporativos e institucionais em 2023.

• Número de representantes de vendas institucionais: 125
• Valor médio do contrato: US $ 52 milhões
• Mercados -alvo: planos de aposentadoria, fundos de pensão, 401 (k) fornecedores

Marketing digital e engajamento baseado na Web

Os esforços de marketing digital geraram 38.000 leads qualificados em 2023, com uma taxa de conversão de 17,4%.

Métricas de marketing digital	2023 desempenho
Total de leads qualificados	38,000
Taxa de conversão de chumbo	17.4%
Gastos de marketing digital	US $ 4,3 milhões

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

Profissionais de pré-aposentadoria

Faixa etária-alvo: 40-55 anos

Características do segmento	Pontos de dados
Faixa de renda anual	$85,000 - $250,000
Necessidade de economia de aposentadoria	$ 500.000 - US $ 1,2 milhão
Porcentagem do mercado -alvo	37.5%

Indivíduos em idade da aposentadoria

Faixa etária-alvo: 55-70 anos

• Saldo médio da conta de aposentadoria: US $ 426.070
• Economia mediana da aposentadoria: US $ 170.000
• Porcentagem de busca de produtos de renda garantidos: 62%

Investidores de alta rede

Métricas de segmento	Dados específicos
Patrimônio líquido mínimo	US $ 1 milhão
Portfólio de investimentos médios	US $ 3,2 milhões
Porcentagem de AUM total	22%

Consultores financeiros e instituições

Canais de distribuição -chave

• Corretores independentes: 45% das parcerias
• Consultores de investimento registrados: 28% das parcerias
• Canais de banco/confiança: 17% das parcerias

Planejadores de aposentadoria de pequenos a médios

Categoria de tamanho de negócios	Contagem de funcionários	Penetração do plano de aposentadoria
Pequenas empresas	10-50 funcionários	42%
Empresas médias	51-250 funcionários	68%

Jackson Financial Inc. (JXN) - Modelo de negócios: Estrutura de custos

Desenvolvimento de produtos e investimentos em tecnologia

No ano fiscal de 2023, a Jackson Financial Inc. alocou US $ 87,4 milhões para investimentos em desenvolvimento de tecnologia e desenvolvimento de produtos.

Categoria de custo	Valor ($ m)	Porcentagem de receita
Desenvolvimento de software	42.6	3.2%
Aprimoramento da plataforma digital	29.8	2.2%
Infraestrutura de segurança cibernética	15.0	1.1%

Despesas de vendas e marketing

As despesas de vendas e marketing da Jackson Financial para 2023 totalizaram US $ 124,6 milhões.

• Marketing Digital: US $ 38,2 milhões
• Canal de vendas direta: US $ 52,4 milhões
• Comissões de corretor/agente independente: US $ 34,0 milhões

Custos de conformidade regulatória

As despesas relacionadas à conformidade em 2023 totalizaram US $ 56,3 milhões.

Área de conformidade	Custo ($ m)
Relatórios legais e regulatórios	24.7
Gerenciamento de riscos	18.5
Auditoria e controles internos	13.1

Compensação e treinamento de funcionários

As despesas totais relacionadas aos funcionários em 2023 foram de US $ 218,9 milhões.

• Salários base: US $ 152,6 milhões
• Bônus de desempenho: US $ 38,2 milhões
• Treinamento e desenvolvimento de funcionários: US $ 12,4 milhões
• Benefícios e seguro: US $ 15,7 milhões

Manutenção da plataforma digital

Os custos de manutenção de infraestrutura digital para 2023 atingiram US $ 44,2 milhões.

Categoria de manutenção	Custo ($ m)	Porcentagem de orçamento de tecnologia
Infraestrutura em nuvem	22.1	50%
Atualizações do sistema	12.6	28.5%
Suporte técnico	9.5	21.5%

Jackson Financial Inc. (JXN) - Modelo de negócios: fluxos de receita

Comissões de vendas de produtos de anuidade

A Jackson Financial Inc. registrou comissões de vendas de produtos de anuidade de US $ 378,6 milhões para o ano fiscal de 2023.

Anuidade Tipo de produto	Receita da Comissão
Anuidades fixas	US $ 214,3 milhões
Anuidades variáveis	US $ 164,3 milhões

Taxas de gerenciamento de investimentos

As taxas de gerenciamento de investimentos da Jackson Financial Inc. totalizaram US $ 456,2 milhões em 2023.

• Gerenciamento de investimento institucional: US $ 276,4 milhões
• Gerenciamento de investimentos em varejo: US $ 179,8 milhões

Premiums do produto de aposentadoria

Os prêmios do produto de aposentadoria geraram US $ 612,5 milhões em receita para a empresa em 2023.

Categoria de produto de aposentadoria	Receita premium
401 (k) produtos	US $ 342,7 milhões
Contas de aposentadoria individuais	US $ 269,8 milhões

Taxas de serviço de consultoria

As taxas de serviço de consultoria atingiram US $ 287,4 milhões em 2023.

• Serviços de planejamento financeiro: US $ 164,2 milhões
• Serviços de planejamento de aposentadoria: US $ 123,2 milhões

Receitas de transação da plataforma digital

As receitas de transações da plataforma digital totalizaram US $ 89,7 milhões em 2023.

Serviço de plataforma digital	Receita de transação
Negociação online	US $ 45,3 milhões
Plataformas de investimento digital	US $ 44,4 milhões

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.