AI-extracted from the 10-Q filed 2026-08-03 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Jackson Financial reported Q2 2026 pretax adjusted operating earnings of $618M, up 52% from $406M in Q2 2025, driven by strong Retail Annuities performance and market risk benefit gains.
Biggest Revenue Drivers
Fee income$3,966M+1% YoY
Driven by higher fee income in Retail Annuities segment reflecting strong AUM growth.
Biggest Revenue Drivers
Total revenue: $3,070M-6% YoY
Fee income$3,966M+1% YoY
Driven by higher fee income in Retail Annuities segment reflecting strong AUM growth.
Largest Expense Items
Benefits and expenses$2,805M-10% YoY
Lower death benefits and policy reserves net of deferrals; market risk benefit gains of $383M offset by interest credited of $635M.
Operating costs and other expenses$1,422M+5% YoY
Increase driven by higher asset-based and other commission expenses ($1,268M total) and general administrative expenses.
Amortization of deferred acquisition costs$562M+2% YoY
Related to amortization of DAC on variable annuities and other products.
Margins: Pretax adjusted operating margin improved significantly in H1 2026 to 27% of operating revenues ($1,048M on $3,889M), compared to 24% in H1 2025 ($848M on $3,524M). The improvement was driven by strong Retail Annuities performance, with pretax adjusted operating earnings of $1,089M, up 30% YoY, reflecting higher fee income and tighter expense management, partially offset by modest declines in Institutional Products and Closed Life segments.
Watch Items from the Filing
RILA segment account values surged to $26.1B from $20.3B YoY (+29%), with embedded derivative liabilities of $8.4B representing significant market risk exposure to equity volatility and interest rate movements.
Market risk benefit net asset position of $4.7B improved favorably H1 2026 primarily due to $2.1B in positive fund performance, but remains sensitive to equity market downturns and volatility contraction.
Substantial unfunded commitments of $2.8B ($846M for limited partnerships + $1.9B for mortgage loans) create future funding obligations that will affect liquidity and capital deployment.
TPG strategic partnership completed February 2026 with $500M equity investment by TPG and $150M in TPG common shares to Jackson, establishing long-term investment management arrangements with target AUM levels and baseline minimum fee payments.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About Jackson Financial Inc. (JXN): stock profile, AI score and financials
Jackson Financial Inc. (JXN) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores JXN at 62.5/100 on a composite quality score built from its SEC filings, placing it at rank #696 of 2,925 stocks — the top 25% of the AI-ranked universe. JXN scores in the top quartile across revenue growth (99.4), free cash flow (98.9), earnings quality (97.0). Areas of concern include profitability (28.0) and balance sheet strength (34.1), which score below median versus the broader universe. Shareholder dilution risk is elevated at 39.5/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Jackson Financial Inc. reports quarterly revenue of $168.0M, net income of $655.0M. Top institutional holders of JXN by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, TPG GP A, based on the most recent SEC filings. JXN trades on the NYSE exchange and files with the SEC under CIK 1822993. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate JXN daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Jackson Financial Inc. directly from SEC EDGAR.