It’s shaping up to be a banner year for Jackson National Life Insurance Company; the company reported retail sales and deposits of $3.4 billion, the highest retail sales quarter in the company’s history. Total retail sales and deposits for the first quarter were up 3 percent to over $6 billion.
“The diversification of Jackson’s revenue and the success of the company’s hedging programs have allowed us to effectively manage our earnings and capital in a very difficult market,” Andy Hopping, Jackson’s chief financial officer, said in a press release.
Jackson’s annuity business saw slight increases, as well. First-half sales for variable annuities increased to $3.8 billion, up from $3.5 billion in the same period last year. Sales in fixed annuities saw a similar increase, climbing to $1.9 billion from $1.6 billion in 2008. Those sales were almost equally divided between traditional deferred fixed annuity sales at $1 billion and nearly $900 million in fixed index annuity sales.