Jackson Financial Inc. announced its second quarter 2025 financial results on August 5, 2025, reporting adjusted operating earnings of $350 million, or $4.87 per diluted share. This compares to $410 million, or $5.32 per diluted share, in the second quarter of 2024. The current quarter's adjusted operating earnings per share benefited from higher spread income and a reduced diluted share count.
Total retail annuity sales grew to $4.4 billion in the second quarter of 2025, up from $4.2 billion in the prior year period. This growth was driven by fixed and fixed index annuity sales, which surged to $470 million from $85 million. Traditional variable annuity sales were $2.5 billion, and RILA sales were $1.4 billion.
Jackson demonstrated strong capital and liquidity, with Jackson National Life Insurance Company's statutory total adjusted capital (TAC) at $5.3 billion and an estimated RBC ratio of 566% as of June 30, 2025. The company generated $290 million in free cash flow for the quarter, contributing to over $1 billion in free cash flow over the last twelve months. PPM America, Jackson's asset management subsidiary, experienced nearly 20% growth in AUM, reaching $83.5 billion.
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