Jackson Announces Record Profit of $670 Million in 2009

Jackson National Life Insurance announced it achieved record sales and deposits of $15.2 billion and record profit of $670 million in 2009. Sales and deposits were 8% higher than 2008, and net income increased from a net loss of $1 billion in 2008, primarily due to the positive impact of movement in non-operating derivative holdings and hedging practices for its annuities.

“We laid the foundation for Jackson’s strong performance during 2009 by remaining disciplined in our product pricing and risk management practices throughout the business cycle,” said Clark Manning, president and chief executive officer of Jackson National Life. “Despite the challenging macroeconomic environment, Jackson was able to deliver the highest level of sales and net income in the company’s history.”