JNL(R)'s First Quarter Variable Annuity Sales Up More than 50%.LANSING, Mich. -- Jackson National Life Jackson National Life Insurance is a U.S. life assurance company that is a subsidiary of the UK based insurer, Prudential Plc. Founded in 1961, Jackson is headquartered in Lansing, Michigan, and has over a thousand employees in the region. Insurance Company(R) (JNL JNL Journal
JNL Jackson National Life (insurance company; Lansing, MI; also seen as JNLIC)
JNL JTIDS (Joint Tactical Information Distribution Systems) Network Library ) recorded more than $1.5 billion in variable annuity Variable Annuity
An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. sales during the first quarter of 2006, a 51-percent increase over first quarter 2005. Higher sales of variable annuities Variable annuities
Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. and institutional products helped JNL generate more than $2.8 billion in total sales during the quarter, a 20-percent increase over the prior year.
"Jackson's VA sales success is a result of our continued focus on providing value to both advisers and their clients," said Clark Manning, JNL's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Advisers can customize our variable annuity products to meet the individual needs of their clients, including separately priced optional benefits that allow consumers to only pay for the features they desire."
Jackson National Life(R), an indirect wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. of the United Kingdom's Prudential plc (NYSE NYSE
See: New York Stock Exchange :PUK PUK Patriotic Union of Kurdistan
PUK Personal Unlocking Key (as used in mobile phones)
PUK PopUp Killer
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PUK Pop-Up Killer (browser utility) ), reported retail sales in its core life and annuity product lines of more than $2.0 billion in the first quarter of 2006, up more than 29 percent over retail sales during the same period last year. First quarter 2006 marked the sixth consecutive quarter that JNL recorded an increase in variable annuity sales. VA sales rose each month throughout the first quarter, peaking at just over $600 million in March (a monthly record). In January 2006, Jackson National Life added five new portfolios to the lineup within its variable annuity products - four sub-advised by Standard & Poor's Investment Advisory Services advisory services
advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control (R) and one sub-advised by Mellon Capital Management. Additionally, JNL added a 5-percent annual benefit increase option to two of its popular lifetime guaranteed minimum withdrawal benefits(1).
"With innovative products, a producer-focused distribution model, and award-winning customer service, Jackson National Life has developed a significant competitive advantage in today's marketplace," said Clifford Jack, JNL executive vice president and chief distribution officer. "JNL has earned a top position with the industry's best advisers, and those distribution relationships helped drive our record retail sales this quarter."
JNL ranked 12th in industry variable annuity sales in 2005, up from 14th in 2004, and the company's VA market share rose by 28 percent, from a 2.8-percent market share in 2004 to 3.6 percent in 2005(2). Furthermore, JNL's Perspective II(R) variable annuity was the top-selling VA contract among independent financial advisers and ranked fourth in total industry VA contract sales during 2005(2). The success of Perspective II helped JNL grow its VA assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. by 31.8 percent last year, the highest annual increase recorded among the industry's top 25 variable annuity sellers(2).
Sales of JNL's fixed index annuities surpassed $232 million in the quarter, a decline of approximately 4 percent from first quarter 2005 sales. JNL's traditional fixed annuity Fixed Annuity
An insurance contract in which the insurance company makes fixed dollar payments to the annuitant for the term of the contract, usually until the annuitant dies. The insurance company guarantees both earnings and principal. sales totaled $260 million, down 16 percent from the prior year period, and total first-year life insurance premium reached nearly $9.6 million, down 23 percent from first quarter 2005.
"Industry sales growth of fixed and fixed index annuities has slowed over the past nine months," Jack said. "Low interest rates and a flat yield curve Flat Yield Curve
A chart that shows that the yields of bonds with short maturities are equal to the yields of bonds with longer maturities. have limited customer demand for fixed annuities Fixed annuities
Contracts in which an insurance company or issuing financial institution pays a fixed dollar amount of money per period. , and continued uncertainty in the regulatory environment has dampened interest in FIAs."
During the first quarter of 2006, JNL capitalized on several attractive issuance opportunities to generate nearly $783 million in institutional product sales, a 1-percent increase over the prior year period. JNL's subsidiary Curian Capital, a registered investment adviser, gathered more than $212 million in deposits, down 4 percent from first quarter 2005, as the firm focused on profitable growth. Upon completion of its third full year of operation, in March 2006, Curian's total assets under management surpassed $1.8 billion.
(1) These are optional benefits available for an additional charge and limitations and restrictions apply. If all withdrawals taken in a contract year are greater than the Guaranteed Annual Withdrawal Amount (GAWA GAWA Garagenwagen (German classifieds)
GAWA Green And White Army (slang for Northern Ireland international football team)
GAWA Guaranteed Annual Withdrawal Amount
GAWA Geographical Association of Western Australia ), or the minimum required distribution for that contract only on certain contracts utilizing LifeGuard 5, the lifetime guarantee is null and void. Withdrawals in excess of GAWA also reduce the LifeGuard benefit. If elected at issue, this means you may not receive your original investment back.
(2) Source: The Variable Annuity Research & Data Service (VARDS(R)), a unit of Morningstar, Inc.
Before investing in variable products, investors should carefully consider the investment objectives, risks, charges and expenses of the variable product and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.
With nearly $68 billion in assets (GAAP GAAP
See: Generally Accepted Accounting Principles
See generally accepted accounting principles (GAAP). ) as of 12/31/05(a), Jackson National Life is an industry leader in variable, fixed and fixed index annuities. JNL also sells life insurance and institutional products. The company markets its products in 49 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , through independent and regional broker-dealers, financial institutions, independent insurance agents, and registered investment advisers. JNL's subsidiary, Jackson National Life Insurance Company of New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (R), markets products through similar channels in the state of New York. Through its affiliates and subsidiaries, JNL also provides separately managed accounts, asset management and retail brokerage services. For more information, visit www.jnl.com.
(a) JNL also has more than $60 billion (GAAP) in policy liabilities set aside primarily to pay future policyowner benefits as of 12/31/05.
Annuities and life insurance products are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan). Variable products are distributed by Jackson National Life Distributors, Inc. May not be available in all states and state variations may apply. These contracts have limitations and restrictions, including withdrawal charges, recapture charges and excess interest adjustments. Contact your representative or the Company for more information.
Perspective II Fixed and Variable Annuity (VA220 and VA250).
Variable annuities involve investment risks and may lose value. The long-term advantage of the benefit options will vary with the performance of the variable investment options you select and the length of time you own your annuity. Under certain market conditions, the cost of the options may exceed the actual benefit. All guarantees are backed by the claims-paying ability of Jackson National Life Insurance Company and do not apply to the principal amount or investment performance of the separate account or its underlying investments. The value of the variable annuity fluctuates with that of the underlying portfolios. Please remember that a JNL variable annuity is intended to be a long-term, tax-deferred investment vehicle for retirement. An annuity's earnings are taxable as ordinary income when withdrawn and, if taken before age 59 1/2, may be subject to a 10% federal tax penalty.
Fixed index annuities are issued by Jackson National Life Insurance Company, Home Office: Lansing, Michigan and distributed by Jackson National Life Distributors, Inc. Not available in all states and state variations may apply. These products are fixed annuities that do not participate in any stock or equity investments. Limitations and restrictions apply, including possible withdrawal charges. During the withdrawal charge period, the annuity's cash value may be less than the principal allocation. For costs and complete details, contact your representative of the Company. Fixed index annuities may not be suitable for everyone. Contact your representative to help determine if a JNL fixed index annuity is right for your situation.
Jackson National Life Insurance Company, headquartered in Lansing, Michigan, is an indirect subsidiary of Prudential plc (NYSE:PUK), a company incorporated and with its principal place of business in the United Kingdom. Prudential plc and its affiliated companies Affiliated Companies
A situation that occurs when one company owns a minority interest (less than 50%) in another company.
Also refers to companies that are related to each other in some way.
An affiliated company is sometimes referred to as a subsidiary. constitute one of the world's leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. It has been in existence for over 150 years and has more than $400 billion in assets under management (as of December 31, 2005). Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America UNITED STATES OF AMERICA. The name of this country. The United States, now thirty-one in number, are Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, .
The following cautionary statement is included to make applicable and take advantage of the safe harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 for any forward-looking statements made by, or on behalf of, the Company. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished.