Jackson National overcomes annuity sales decline in strong third quarter

November 15, 2022 by John Hilton

Jackson National overcame declining annuity sales to finish the third quarter with strong revenue growth that won over Wall Street.

Jackson reported net income of $1.5 billion, compared to net income of $206 million for the third quarter 2021. The net income gains “primarily reflects improved net hedge results, mainly due to a benefit from a larger comparative increase in interest rates in the third quarter of 2022 relative to the prior year period,” Jackson said in a news release.

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Originally Posted at InsuranceNewsNet on November 11, 2022 by John Hilton.