Jackson Financial Inc. announced outstanding financial results for the fourth quarter and full year ended December 31, 2024, on February 19, 2025. For the full year 2024, adjusted operating earnings reached $1.4 billion, or $18.79 per diluted share, a significant increase from $1.1 billion, or $12.84 per diluted share, in 2023. Net income attributable to common shareholders was $902 million, or $11.74 per diluted share, consistent with $899 million in 2023.
Retail annuity sales for the full year 2024 surged by 39% to $17.8 billion, up from $12.8 billion in 2023, with growth across all product lines. RILA sales were a key driver, increasing to $5.7 billion from $2.9 billion in 2023, while traditional variable annuity sales rose to $10.6 billion and fixed annuity sales grew to $1.6 billion.
Jackson demonstrated strong capital generation and shareholder returns, distributing $631 million to common shareholders in 2024. The company ended the year with an estimated RBC ratio of 572% and over $700 million in cash and highly liquid securities at the holding company. For 2025, Jackson set a target to return $700-$800 million in capital to common shareholders, representing an 11%-27% increase from 2024 actual returns.
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