Jackson National Life reported a record $3.4 billion in retail sales and deposits in the second quarter. In the first half of the year, sales and deposits totaled $6.1 billion, up 3% from the first half of 2008.
In the first six months of 2009, net income surged 163% to $279 million, up from $106 million in the comparable period, due primarily to the performance of derivatives and other hedging programs and strong annuity and insurance sales.
"Jackson's long-standing tradition of maintaining financial discipline has resulted in relatively few changes to the company's product set or business model," said Clark Manning, Jackson president and chief executive officer. "Our consistency throughout the economic downturn has been perceived as a strength by our distribution partners and their clients, driving sales and new business opportunities."