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JACKSON FINANCIAL INC.

(JXN)
  Report
Real-time Estimate Cboe BZX  -  03:18 2022-10-06 pm EDT
31.23 USD   -0.02%
09/08Jefferies & Co. Adjusts Price Target on Jackson Financial to $40 From $38, Keeps Buy Rating
MT
08/17Morgan Stanley Raises Jackson Financial's Price Target to $35 From $31, Maintains Equalweight Rating
MT
08/15Jackson Names Andrea Goodrich SVP, Corporate Secretary
BU
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Jackson Financial : Brooke Life Insurance Company 2Q 2022 statutory statement

08/11/2022 | 05:59pm EDT

QUARTERLY STATEMENT

OF THE

BROOKE LIFE INSURANCE COMPANY

TO THE

Insurance Department

OF THE

STATE OF

Michigan

FOR THE QUARTER ENDED

JUNE 30, 2022

[ X ] LIFE, ACCIDENT AND HEALTH

[ ] FRATERNAL BENEFIT SOCIETIES

2022

.MI

STATEMENT AS OF JUNE 30, 2022 OF THE BROOKE LIFE INSURANCE COMPANY

ASSETS

Current Statement Date

4

1

2

3

December 31

Net Admitted Assets

Prior Year Net

Assets

Nonadmitted Assets

(Cols. 1 - 2)

Admitted Assets

1.

Bonds

283,074,021

0

283,074,021

314,871,760

2.

Stocks:

2.1 Preferred stocks

0

0

0

0

2.2 Common stocks

7,717,008,111

0

7,717,008,111

6,098,185,448

3. Mortgage loans on real estate:

3.1

First liens

0

0

0

0

3.2

Other than first liens

0

0

0

0

4. Real estate:

4.1 Properties occupied by the company (less $

0

encumbrances)

0

0

0

0

4.2 Properties held for

the production of income (less

$

0 encumbrances)

0

0

0

0

4.3 Properties held for sale (less $

0

encumbrances)

0

0

0

0

5.

Cash ($

(399,045) ), cash equivalents

($

38,852,886

) and short-term

investments ($

0 )

38,453,841

0

38,453,841

8,858,534

6.

Contract loans (including $

0

premium notes)

604,270

0

604,270

618,149

7.

Derivatives

0

0

0

0

8.

Other invested assets

27,048,997

1,174,216

25,874,781

0

9.

Receivables for securities

0

0

0

0

10.

Securities lending reinvested collateral assets

0

0

0

0

11.

Aggregate write-ins for invested assets

0

0

0

0

12.

Subtotals, cash and invested assets (Lines 1 to 11)

8,066,189,240

1,174,216

8,065,015,024

6,422,533,891

13.

Title plants less $

0 charged off (for Title insurers

only)

0

0

0

0

14.

Investment income due and accrued

2,030,209

0

2,030,209

2,048,464

15.

Premiums and considerations:

15.1 Uncollected premiums and agents' balances in the course of collection

5,991,791

0

5,991,791

6,547,000

15.2 Deferred premiums, agents' balances and installments booked but

deferred and not yet due (including $

0

earned but unbilled premiums)

42,270

0

42,270

53,888

15.3 Accrued retrospective premiums ($

0 ) and

contracts subject to redetermination ($

0 )

0

0

0

0

16. Reinsurance:

16.1

Amounts recoverable from reinsurers

10,000

0

10,000

10,000

16.2

Funds held by or deposited with reinsured companies

0

0

0

0

16.3

Other amounts receivable under reinsurance contracts

25,773

0

25,773

0

17.

Amounts receivable relating to uninsured plans

0

0

0

0

18.1

Current federal and foreign income tax recoverable and interest thereon

148,619

0

148,619

0

18.2

Net deferred tax asset

0

0

0

0

19.

Guaranty funds receivable or on deposit

0

0

0

0

20.

Electronic data processing equipment and software

0

0

0

0

21. Furniture and equipment, including health care delivery assets

($

0 )

0

0

0

0

22.

Net adjustment in assets and liabilities due to foreign exchange rates

0

0

0

0

23.

Receivables from parent, subsidiaries and affiliates

0

0

0

0

24.

Health care ($

0 ) and other amounts receivable

0

0

0

0

25.

Aggregate write-ins for other than invested assets

851,410

0

851,410

772,977

26. Total assets excluding Separate Accounts, Segregated Accounts and

Protected Cell Accounts (Lines 12 to 25)

8,075,289,312

1,174,216

8,074,115,096

6,431,966,220

27. From Separate Accounts, Segregated Accounts and Protected Cell

Accounts

0

0

0

0

28.

Total (Lines 26 and 27)

8,075,289,312

1,174,216

8,074,115,096

6,431,966,220

DETAILS OF WRITE-INS

1101.

1102.

1103.

1198.

Summary of remaining write-ins for Line 11 from overflow page

0

0

0

0

1199.

Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)

0

0

0

0

2501.

Cash held by third party administrator

851,410

0

851,410

749,603

2502.

Other assets

0

0

0

23,374

2503.

2598.

Summary of remaining write-ins for Line 25 from overflow page

0

0

0

0

2599.

Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)

851,410

0

851,410

772,977

2

STATEMENT AS OF JUNE 30, 2022 OF THE BROOKE LIFE INSURANCE COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

1

2

Current

December 31

Statement Date

Prior Year

1.

Aggregate reserve for life contracts $

265,703,642

less $

0 included in Line 6.3

(including $

15,800,245

Modco Reserve)

265,703,642

271,943,766

2.

Aggregate reserve for accident and health contracts (including $

0

Modco Reserve)

0

0

3.

Liability for deposit-type contracts (including $

1,323,736

Modco Reserve)

2,329,515

2,450,379

4. Contract claims:

4.1

Life

23,001,996

26,221,680

4.2

Accident and health

0

0

5. Policyholders' dividends/refunds to members $

0 and coupons $

0 due

and unpaid

0

0

6. Provision for policyholders' dividends, refunds to members and coupons payable in following calendar year - estimated amounts:

6.1

Policyholders' dividends and refunds to members apportioned for payment (including $

0

Modco)

0

0

6.2

Policyholders' dividends and refunds to members not yet apportioned (including $

45 Modco)

8,902

9,118

6.3

Coupons and similar benefits (including $

0 Modco)

0

0

7. Amount provisionally held for deferred dividend policies not included in Line 6

0

0

8. Premiums and annuity considerations for life and accident and health contracts received in advance less

$

0 discount; including $

0 accident and health premiums

1,509

922

9. Contract liabilities not included elsewhere:

9.1

Surrender values on canceled contracts

0

0

9.2

Provision for experience rating refunds, including the liability of $

0 accident and health

experience rating refunds of which $

0

is for medical loss ratio rebate per the Public Health

Service Act

0

0

9.3 Other amounts payable on reinsurance, including $

0 assumed and $

0

ceded

0

33,453

9.4 Interest Maintenance Reserve

4,569,970

6,177,946

10.

Commissions to agents due or accrued-life and annuity contracts $

0 , accident and health

$

0 and deposit-type contract funds $

0

0

0

11.

Commissions and expense allowances payable on reinsurance assumed

0

0

12.

General expenses due or accrued

50,303

23,164

13.

Transfers to Separate Accounts due or accrued (net) (including $

0 accrued for expense

allowances recognized in reserves, net of reinsured allowances)

0

0

14.

Taxes, licenses and fees due or accrued, excluding federal income taxes

0

0

15.1 Current federal and foreign income taxes, including $

0 on realized capital gains (losses)

0

0

15.2

Net deferred tax liability

0

0

16.

Unearned investment income

19,186

16,276

17.

Amounts withheld or retained by reporting entity as agent or trustee

53,128

25,021

18.

Amounts held for agents' account, including $

0 agents' credit balances

0

0

19.

Remittances and items not allocated

104,511

0

20.

Net adjustment in assets and liabilities due to foreign exchange rates

0

0

21.

Liability for benefits for employees and agents if not included above

0

0

22.

Borrowed money $

0

and interest thereon $

0

0

0

23.

Dividends to stockholders declared and unpaid

0

0

24. Miscellaneous liabilities:

24.01

Asset valuation reserve

2,975,591

2,395,543

24.02 Reinsurance in unauthorized and certified ($

0 ) companies

0

0

24.03 Funds held under reinsurance treaties with unauthorized and certified ($

0 ) reinsurers

0

0

24.04

Payable to parent, subsidiaries and affiliates

153,834

122,499

24.05

Drafts outstanding

0

0

24.06

Liability for amounts held under uninsured plans

0

0

24.07

Funds held under coinsurance

0

0

24.08

Derivatives

0

0

24.09

Payable for securities

0

0

24.10

Payable for securities lending

0

0

24.11 Capital notes $

0 and interest thereon $

0

0

0

25.

Aggregate write-ins for liabilities

27,113,945

26,871,802

26.

Total liabilities excluding Separate Accounts business (Lines 1 to 25)

326,086,032

336,291,569

27.

From Separate Accounts Statement

0

0

28.

Total liabilities (Lines 26 and 27)

326,086,032

336,291,569

29.

Common capital stock

51,500,000

51,500,000

30.

Preferred capital stock

0

0

31.

Aggregate write-ins for other than special surplus funds

0

0

32.

Surplus notes

2,000,000,000

2,000,000,000

33.

Gross paid in and contributed surplus

2,176,188,014

2,176,188,014

34.

Aggregate write-ins for special surplus funds

0

0

35.

Unassigned funds (surplus)

3,520,341,050

1,867,986,637

36. Less treasury stock, at cost:

36.1

0

shares common (value included in Line 29

$

0

)

0

0

36.2

0

shares preferred (value included in Line 30

$

0

)

0

0

37.

Surplus (Total Lines 31+32+33+34+35-36) (including $

0 in Separate Accounts Statement)

7,696,529,064

6,044,174,651

38.

Totals of Lines 29, 30 and 37

7,748,029,064

6,095,674,651

39.

Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)

8,074,115,096

6,431,966,220

DETAILS OF WRITE-INS

2501.

Interest payable on death claims

625,385

383,580

2502.

Interest payable on surplus note

26,488,222

26,488,222

2503.

Unclaimed property

338

0

2598.

Summary of remaining write-ins for Line 25 from overflow page

0

0

2599.

Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)

27,113,945

26,871,802

3101.

3102.

3103.

3198.

Summary of remaining write-ins for Line 31 from overflow page

0

0

3199.

Totals (Lines 3101 through 3103 plus 3198)(Line 31 above)

0

0

3401.

3402.

3403.

3498.

Summary of remaining write-ins for Line 34 from overflow page

0

0

3499.

Totals (Lines 3401 through 3403 plus 3498)(Line 34 above)

0

0

3

STATEMENT AS OF JUNE 30, 2022 OF THE BROOKE LIFE INSURANCE COMPANY

SUMMARY OF OPERATIONS

1

2

3

Current Year

Prior Year

Prior Year Ended

To Date

To Date

December 31

1.

Premiums and annuity considerations for life and accident and health contracts

13,841,756

16,002,239

30,459,458

2.

Considerations for supplementary contracts with life contingencies

0

0

0

3.

Net investment income

(40,789,371)

(41,518,606)

(82,878,532)

4.

Amortization of Interest Maintenance Reserve (IMR)

422,872

574,824

1,137,751

5.

Separate Accounts net gain from operations excluding unrealized gains or losses

0

0

0

6.

Commissions and expense allowances on reinsurance ceded

41,991

44,305

87,292

7.

Reserve adjustments on reinsurance ceded

(381,140)

(284,165)

(513,973)

8. Miscellaneous Income:

8.1 Income from fees associated with investment management, administration and contract

guarantees from Separate Accounts

0

0

0

8.2 Charges and fees for deposit-type contracts

0

2,305

2,305

8.3 Aggregate write-ins for miscellaneous income

0

0

0

9.

Totals (Lines 1 to 8.3)

(26,863,892)

(25,179,098)

(51,705,699)

10.

Death benefits

25,503,926

13,974,689

31,846,554

11.

Matured endowments (excluding guaranteed annual pure endowments)

0

0

0

12.

Annuity benefits

4,615,352

2,889,198

9,352,418

13.

Disability benefits and benefits under accident and health contracts

0

0

0

14.

Coupons, guaranteed annual pure endowments and similar benefits

0

0

0

15.

Surrender benefits and withdrawals for life contracts

5,927,534

7,083,855

13,514,474

16.

Group conversions

0

0

0

17.

Interest and adjustments on contract or deposit-type contract funds

261,248

37,638

106,559

18.

Payments on supplementary contracts with life contingencies

0

0

0

19.

Increase in aggregate reserves for life and accident and health contracts

(6,240,124)

(4,181,683)

(12,604,546)

20.

Totals (Lines 10 to 19)

30,067,936

19,803,697

42,215,459

21.

Commissions on premiums, annuity considerations, and deposit-type contract funds (direct

business only)

56,300

125,643

192,086

22.

Commissions and expense allowances on reinsurance assumed

664

463

1,631

23.

General insurance expenses and fraternal expenses

221,945

229,468

435,524

24.

Insurance taxes, licenses and fees, excluding federal income taxes

2,559

2,732

2,982

25.

Increase in loading on deferred and uncollected premiums

(112)

(679)

(991)

26.

Net transfers to or (from) Separate Accounts net of reinsurance

0

0

0

27.

Aggregate write-ins for deductions

0

0

0

28.

Totals (Lines 20 to 27)

30,349,292

20,161,324

42,846,691

29.

Net gain from operations before dividends to policyholders and federal income taxes (Line 9 minus

Line 28)

(57,213,184)

(45,340,422)

(94,552,390)

30.

Dividends to policyholders and refunds to members

4,650

4,647

9,028

31.

Net gain from operations after dividends to policyholders, refunds to members and before federal

income taxes (Line 29 minus Line 30)

(57,217,834)

(45,345,069)

(94,561,418)

32.

Federal and foreign income taxes incurred (excluding tax on capital gains)

(36,882)

(228,676)

(439,252)

33.

Net gain from operations after dividends to policyholders, refunds to members and federal income

taxes and before realized capital gains or (losses) (Line 31 minus Line 32)

(57,180,952)

(45,116,393)

(94,122,166)

34.

Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital

gains tax of $

0 (excluding taxes of $

(111,738)

transferred to the IMR)

0

0

0

35.

Net income (Line 33 plus Line 34)

(57,180,952)

(45,116,393)

(94,122,166)

CAPITAL AND SURPLUS ACCOUNT

36.

Capital and surplus, December 31, prior year

6,095,674,651

4,722,457,128

4,722,457,128

37.

Net income (Line 35)

(57,180,952)

(45,116,393)

(94,122,166)

38.

Change in net unrealized capital gains (losses) less capital gains tax of $

271,477

2,219,769,257

(882,151,187)

(57,362,320)

39.

Change in net unrealized foreign exchange capital gain (loss)

0

0

0

40.

Change in net deferred income tax

271,477

0

0

41.

Change in nonadmitted assets

74,679

25,339

37,489

42.

Change in liability for reinsurance in unauthorized and certified companies

0

0

0

43.

Change in reserve on account of change in valuation basis, (increase) or decrease

0

0

0

44.

Change in asset valuation reserve

(580,048)

221,003

(335,480)

45.

Change in treasury stock

0

0

0

46.

Surplus (contributed to) withdrawn from Separate Accounts during period

0

0

0

47.

Other changes in surplus in Separate Accounts Statement

0

0

0

48.

Change in surplus notes

0

0

0

49.

Cumulative effect of changes in accounting principles

0

0

0

50. Capital changes:

50.1

Paid in

0

0

0

50.2

Transferred from surplus (Stock Dividend)

0

0

0

50.3

Transferred to surplus

0

0

0

51.

Surplus adjustment:

51.1

Paid in

0

0

1,525,000,000

51.2

Transferred to capital (Stock Dividend)

0

0

0

51.3

Transferred from capital

0

0

0

51.4

Change in surplus as a result of reinsurance

0

0

0

52.

Dividends to stockholders

(510,000,000)

0

0

53.

Aggregate write-ins for gains and losses in surplus

0

0

0

54.

Net change in capital and surplus for the year (Lines 37 through 53)

1,652,354,413

(927,021,238)

1,373,217,523

55.

Capital and surplus, as of statement date (Lines 36 + 54)

7,748,029,064

3,795,435,890

6,095,674,651

DETAILS OF WRITE-INS

08.301.

08.302.

08.303.

08.398. Summary of remaining write-ins for Line 8.3 from overflow page

0

0

0

08.399. Totals (Lines 08.301 through 08.303 plus 08.398) (Line 8.3 above)

0

0

0

2701.

2702.

2703.

2798.

Summary of remaining write-ins for Line 27 from overflow page

0

0

0

2799.

Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)

0

0

0

5301.

5302.

5303.

5398.

Summary of remaining write-ins for Line 53 from overflow page

0

0

0

5399.

Totals (Lines 5301 through 5303 plus 5398)(Line 53 above)

0

0

0

4

Disclaimer

Jackson Financial Inc. published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 21:58:07 UTC.


© Publicnow 2022
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Financials (USD)
Sales 2022 6 206 M - -
Net income 2022 5 435 M - -
Net Debt 2022 4 234 M - -
P/E ratio 2022 0,54x
Yield 2022 7,18%
Capitalization 2 650 M 2 650 M -
EV / Sales 2022 1,11x
EV / Sales 2023 1,23x
Nbr of Employees 3 150
Free-Float 79,2%
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Technical analysis trends JACKSON FINANCIAL INC.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 31,23 $
Average target price 36,20 $
Spread / Average Target 15,9%
EPS Revisions
Managers and Directors
Laura L. Prieskorn President, Chief Executive Officer & Director
Marcia Wadsten Chief Financial Officer & Executive Vice President
Steven Albert Kandarian Non-Executive Chairman
Devkumar Ganguly Chief Operating Officer & Executive Vice President
Lily Fu Claffee Independent Director
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