Jackson Financial
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Jackson Financial (JXN) investor relations material

Jackson Financial Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary19 Feb, 2026

Executive summary

  • Achieved record retail annuity sales of $19.7B for 2025, up 10% year-over-year, and record quarterly sales in Q4; RILA sales set a record at $2.3B in Q4, up 53% year-over-year.

  • Adjusted operating earnings reached $1.6B ($22.67/share) for 2025, with Q4 adjusted operating EPS of $6.61, both up from 2024.

  • Returned $862M to shareholders in 2025 via $634M in share repurchases and $228M in dividends, exceeding capital return targets.

  • Ended 2025 with robust capital and liquidity, including a 567% RBC ratio at JNL and holding company liquidity above $650M.

  • Surpassed 2025 financial targets and raised 2026 capital return targets to $900M–$1.1B, with a 12.5% dividend increase to $0.90/share.

Financial highlights

  • Adjusted operating earnings rose to $1.6B for FY25, up from $1.4B in FY24; adjusted EPS increased to $22.67 from $18.79.

  • Free capital generation reached nearly $1.4B for the year, exceeding the $1B+ target; free cash flow was $838M, with a 12% yield.

  • Adjusted book value per share increased to $155.78 at year-end, up from $150.11.

  • Returned $862M to shareholders in 2025, above the top end of the disclosed range.

  • Total common shareholders’ equity at year-end was $9.4B.

Outlook and guidance

  • 2026 free capital generation target set at or above $1.2B, with capital return target of $900M–$1.1B.

  • Increased Q1 2026 dividend by 12.5% to $0.90/share.

  • Expect continued growth in RILA and fixed index annuity sales, leveraging new partnerships and product launches.

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Frequently asked questions

Jackson Financial Inc. is a financial services company specializing in retirement and annuity solutions. The company offers a range of annuity products, including fixed, variable, and fixed-indexed annuities, designed to help individuals build and protect their retirement savings. Jackson also provides advisory services and investment management solutions to support financial advisors and their clients. The company is headquartered in Lansing, Michigan, and its shares are listed on the NYSE.

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