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Life Health > Annuities > Fixed Annuities

Jackson: Highest retail sales quarter ever

By Danielle Andrus

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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.

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