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JacksonSM Reports Total Sales and Deposits of $14 Billion in 2008.

LANSING, Mich. -- Jackson National Life Insurance Company([R]) (Jackson) generated more than $14.0 billion in total sales and deposits1 during 2008, representing the second-best sales year in the company's history. Total sales and deposits fell 3 percent from 2007, which was a record sales year for Jackson. The resilient sales performance was driven primarily by higher sales of traditional fixed annuities (up 179 percent year over year) and institutional products (up 18 percent year over year), offset by lower sales of variable annuities (down 29 percent year over year).

"Recently, there has been a flight to quality in the US life insurance market," said Clark Manning, Jackson's president and chief executive officer. "With a broad product portfolio that includes variable, traditional fixed and fixed index annuities, as well as life insurance, mutual funds and institutional products, Jackson is able to meet the needs of advisers and their clients under all economic conditions."

Jackson, an indirect wholly owned subsidiary of the United Kingdom's Prudential plc (NYSE: PUK), had nearly $4.0 billion of regulatory adjusted capital as of December 31, 2008, which represents nearly nine times the regulatory requirements2. Furthermore, Jackson's statutory capital ratio (calculated as total adjusted capital divided by statutory reserves, excluding separate accounts) was nearly 9 percent at December 31, 2008.

In 2008, Jackson recorded more than $11.8 billion in retail sales and deposits3, down 7 percent from the prior year period, with total annuity net flows (total premium minus surrenders, exchanges and annuitizations) falling 2 percent year over year. Variable annuity sales totaled $6.5 billion, compared to $9.1 billion in 2007. Sales of traditional fixed annuities were $3.2 billion during 2008, compared to $1.1 billion during the prior year. Jackson sold $928 million in fixed index annuities, up from $894 million during 2007. In the fourth quarter of 2008, fixed index annuity sales were 35 percent higher than third quarter 2008 and 45 percent higher than fourth quarter 2007.

"Jackson is an attractive business partner for advisers because we consistently offer innovative solutions, value-added wholesaling support and award-winning customer service," said Clifford Jack, executive vice president and chief distribution officer for Jackson. "During 2008, Jackson further strengthened its distribution relationships by providing the resources, guidance and services advisers need most during difficult times."

Jackson generated life insurance sales of $58 million in 2008, up 13 percent over 2007 due primarily to a 32-percent year-over-year increase in universal life sales. Deposits in the Jackson Funds(SM), which were launched in January 2007, totaled $67 million in 2008, compared to $120 million in 2007. During 2008, Jackson sold more than $2.2 billion in institutional products, up from $1.9 billion in 2007. Jackson participates in the institutional market on an opportunistic basis.

Curian Capital, Jackson's separately managed accounts subsidiary, accumulated $1.1 billion in deposits during 2008, compared to $1.3 billion in the prior year. As of December 31, 2008, Curian's assets under management totaled $2.6 billion, compared to $3.5 billion at the end of 2007, due primarily to a sharp decline in equity markets.

Jackson's financial strength ratings have remained unchanged for more than five years. As of December 31, 2008, Jackson was rated:

* A+ (superior) by A.M. Best

* AA (very strong) by Standard & Poor's

* AA (very strong) by Fitch Ratings

* A1 (good) by Moody's Investors Service, Inc.

In August 2008, Standard & Poor's affirmed Jackson's AA rating with a stable outlook and, in October 2008, Moody's affirmed Jackson's A1 rating with a stable outlook.

"Jackson is a well-capitalized company with a diversified suite of retirement savings and income products and a highly effective distribution network," said Manning. "By operating in a Long-Term Smart(SM) fashion, we have positioned ourselves for stability and consistent growth over the course of the business cycle."

(1)Deposits from retail mutual funds and Jackson's subsidiary Curian Capital have been included in Jackson's total and retail sales and deposits figures, beginning with full-year 2007. Prior year comparisons have been restated to include deposits from Curian and the retail mutual funds.

(2)Based on authorized control level capital requirements.

(3)Retail sales and deposits exclude sales of institutional products -- guaranteed investment contracts, funding agreements and medium-term notes.

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.

About Jackson National Life Insurance Company

With more than $82 billion in assets (GAAP)*, Jackson National Life Insurance Company (Jackson) is an industry leader in variable, fixed and fixed index annuities. The company also offers life insurance and institutional products. Jackson markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, financial institutions and independent insurance agents. Jackson's subsidiary, Jackson National Life Insurance Company of New York([R]), similarly markets products in the state of New York. Through its affiliates and subsidiaries, Jackson also provides asset management, retail mutual funds and retail brokerage services. For more information, visit

*Jackson had more than $82 billion in total assets (GAAP unaudited) and nearly $75 billion in policy liabilities (GAAP unaudited) set aside to pay primarily future policyowner benefits (as of 6/30/08).

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 LLC. May not be available in all states and state variations may apply. These contracts have limitations and restrictions, including possible withdrawal charges, recapture charges and excess interest adjustments. Contact your representative or the Company for more information.

Please remember that a Jackson annuity is intended to be a long-term, tax-deferred 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. Variable annuities involve investment risks and may lose value.

Jackson National Life Insurance Company is an indirect subsidiary of Prudential plc, a company incorporated and with its principal place of business in the United Kingdom. Prudential plc and its affiliated companies constitute one of the world's leading financial service 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 had more than $509 billion in assets under management as of June 30, 2008. 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.

The following cautionary statement is included to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act 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.
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Publication:Business Wire
Article Type:Financial report
Date:Feb 20, 2009
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