Jackson Reports First Half 2017 Financial Results1
- Record IFRS pre-tax operating income2 of
$1.4 billion , an increase of 7% over first half 2016 - First half dividend of
$600 million remitted
“During the first half of the year, our disciplined approach to business produced excellent results, even amid a disruptive industry environment,” Stowe said. “Our consistent performance allowed
In April,
Stowe said the company plans to expand its impact through nonprofit organizations, schools and associate volunteerism. “Americans' lack of practical financial knowledge is a pressing social issue that
1Financial results from
2International Financial Reporting Standards (IFRS) is a principles-based set of international accounting standards indicating how transactions and other events should be reported in financial statements. IFRS is issued by the
IFRS pre-tax operating income is based on longer-term investment returns. It excludes short-term fluctuations in investment returns, hedge results and change in value of derivatives. A reconciliation to both IFRS net income as well as net income based on US generally accepted accounting principles (US GAAP) is as follows (amounts in millions):
$ | 1,359.4 | IFRS basis pretax income from operations | |||
(970.4) | Net hedge results and change in value of derivatives, net of DAC amortization | ||||
39.0 | Net realized investment losses, net of DAC amortization and non-controlling interest | ||||
(61.0) | Normalization of longer-term investment returns, net of DAC amortization | ||||
(56.9) | Income tax expense | ||||
310.1 | IFRS net income | ||||
(8.2) | IFRS to US GAAP adjustments, net of tax | ||||
$ | 301.9 | US GAAP basis net income attributable to |
|||
3The North American Business Unit of
About
*
Jackson National Life Insurance Company is an indirect subsidiary of
This press release may contain certain statements that constitute “forward-looking statements.” 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. Any forward-looking statements reflect Jackson’s views and assumptions as of the date of this press release and
PR2948 08/17
View source version on businesswire.com: http://www.businesswire.com/news/home/20170810005725/en/
Jackson National Life Insurance Company
Phone: 303-224-7572
Email: [email protected]
Source:
Over 700 Economists Call for Death Tax Repeal
Milliman analysis: July’s corporate pension funded status steady amid investment gains, discount rate decline
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News