Jackson Financial Stock Earnings Reports

Jackson Financial reported a strong Q1 2026 driven by spread-based business growth, RILA momentum and improving capital generation. Key financials: total adjusted capital of $5.5 billion (up ~5% YoY), pretax adjusted operating earnings of $503 million excluding notables (12% YoY growth), adjusted operating EPS of $5.94 (18% YoY on an adjusted basis), free capital generation of $271 million in the quarter and holding-company free cash flow of $288 million. Retail annuity sales rose 31% YoY to $5.3 billion, powered by RILA (Market Link Pro 3 products) and new FIA product launches; RILA quarterly sales have exceeded $2 billion since launch and RILA AUM is >$21 billion. Jackson closed a strategic investment partnership with TPG to expand access to asset-based finance and direct lending and has begun allocating new money to TPG-managed assets. Net outflows improved (30% YoY) driven by RILA inflows and lower VA surrenders; however VC hedges produced a modest net loss ($101 million) concentrated in the variable annuity book due to relative active fund performance. Notable one-time impacts this quarter included below-assumption limited partnership results and higher claims from an initiative to identify deceased policyholders. Capital and liquidity remain strong (holding company liquidity ~ $650 million, total available liquidity ~ $3 billion, operating company liquidity > $35 billion); RBC at ~554% and leverage modest. Management reiterated 2026 targets: at least $1.2 billion free capital generation and $900M–$1.1B capital return to common shareholders, and emphasized disciplined investment/credit underwriting and the risk-mitigating role of the new PCAPS contingent capital facility.