Jackson Financial (JXN) Proxy Filing summary

Executive summary

• Achieved or exceeded all 2024 key financial targets, including a risk-based capital ratio of 572%, holding company liquidity of nearly $700 million, and $631 million in capital returned to shareholders, a 48% increase over 2023.

• Established and funded captive reinsurer Brooke Life Reinsurance Company in January 2024, enhancing economic hedging and capital predictability.

• Total shareholder return ranked in the 94th percentile among S&P Insurance Select Industry Index peers for 2024.

• Increased quarterly dividend by 14% to $0.80 per share in February 2025 and set a 2025 capital return target of $700–800 million.

• Retail annuity sales reached $17.8 billion in 2024, up 39% from 2023, with product innovation and distribution expansion driving growth.

Voting matters and shareholder proposals

• Shareholders will vote on the election of nine directors for a one-year term, ratification of KPMG LLP as independent auditor for 2025, and an advisory vote on executive compensation.

• Board recommends voting FOR all proposals.

• No other business matters were noted as of the proxy statement date.

Board of directors and corporate governance

• Board consists of nine members, eight of whom are independent; average tenure is 3.7 years and average age is 64.7.

• Board committees (Audit, Compensation, Finance and Risk, Nominating and Governance) are fully independent and met 27 times in 2024.

• Annual board and committee evaluations, director orientation, continuing education, and mandatory retirement age policies are in place.

• Shareholder rights include annual director elections by majority vote, one vote per share, right to call special meetings, and no poison pill.