Core Viewpoint - The strategic development call is aimed at discussing the company's future direction and performance expectations, with a focus on forward-looking statements and financial measures [2][3]. Group 1: Company Leadership - The call features key executives including CEO Laura Prieskorn and CFO Don Cummings, along with other senior leaders from Jackson [4]. Group 2: Financial Disclosures - Jackson's filings with the SEC provide essential information regarding factors that could lead to significant deviations in actual results compared to expectations [3]. - The company is not obligated to update forward-looking statements unless legally required, indicating a focus on current management expectations [3]. Group 3: Presentation Format - The call is structured to include remarks from various executives, emphasizing the importance of strategic communication with investors [4].

Core Viewpoint - TPG has announced a long-term strategic partnership with Jackson, indicating a significant collaboration aimed at enhancing both companies' market positions and operational efficiencies [2][3]. Group 1: Partnership Details - The partnership was officially announced in a press release and is expected to be discussed in detail during an investor call hosted by Jackson [3]. - Key executives from TPG, including the CEO and CFO, are involved in the announcement and will provide insights during the call [2]. Group 2: Investor Engagement - TPG has made available a presentation on its Investor Relations website to provide further details about the partnership [3]. - An investor call hosted by Jackson is scheduled for 9:00 a.m. Eastern Time, allowing for direct engagement with investors [3].

Summary of Jackson Financial's Strategic Development Call Company Overview - **Company**: Jackson Financial (NYSE: JXN) - **Industry**: Insurance and Financial Services Key Points and Arguments Strategic Partnerships and Initiatives - **Partnership with TPG**: Jackson has entered a long-term strategic partnership with TPG, a leading global alternative asset management firm, to enhance investment management strategies and diversify its portfolio [4][6][12] - **Investment Details**: TPG will invest $500 million in Jackson's common shares, representing approximately 7% ownership, and Jackson will receive $150 million in TPG common shares [8][14] - **Formation of Hickory Brook Reinsurance Company**: Jackson has created Hickory Re, a captive reinsurance entity aimed at offering competitive fixed and fixed index annuity products in a capital-efficient manner [4][8][18] Growth Strategy - **Focus on Spread-Based Products**: Jackson aims to grow its presence in the spread-based annuity market, leveraging its strong brand and distribution relationships [5][21] - **Projected Sales Growth**: The company anticipates cumulative fixed and fixed index annuity sales of $10-$15 billion over the next few years, supported by the new partnership and reinsurance structure [21][22] Financial Performance and Capital Management - **Capital Efficiency**: The partnership with TPG and the establishment of Hickory Re are expected to improve capital generation and free cash flow, with free cash flow projected to exceed 2025 levels [20][23] - **Historical Performance**: Since becoming a public company, Jackson has returned $2.5 billion to shareholders, exceeding its initial market capitalization [10][25] Market Position and Competitive Advantage - **Competitive Landscape**: Jackson acknowledges the intense competition in the fixed and fixed index annuity markets but believes its strategic initiatives will enhance its market position [36][39] - **Product Differentiation**: The company is confident in its ability to offer competitive returns and product features through its partnership with TPG and the capabilities of Hickory Re [39][41] Future Opportunities - **Collaboration with TPG**: Jackson sees potential for further collaboration with TPG beyond the initial focus on investment-grade asset-based finance and direct lending strategies [52][53] Additional Important Information - **Actuarial Assumption Review**: The after-tax impact on consolidated net income was less negative than in 2024, with an expected negative impact of about $350 million on Brookery equity due to increased reserves [23][24] - **Resilience of Brookery**: Brookery's equity has remained resilient despite market volatility, attributed to effective risk management and a disciplined hedging approach [24][44] This summary encapsulates the strategic developments and financial outlook for Jackson Financial as discussed in the call, highlighting the company's initiatives to enhance growth and capitalize on market opportunities.

Strategic Partnership with TPG - TPG will acquire approximately 6.5% common equity stake in JFI at $106.03 per share, totaling $500 million at close[7] - Jackson will receive $150 million of TPG common equity at $65.82 per share[7] - TPG's AUM managed by TPG needs to reach $4 billion by the end of year 2 and $12 billion by the end of year 5[7] - TPG is a leading global alternative asset management firm with $286 billion of AUM[12] Formation of Hickory Re - Hickory Re is a Michigan-based captive reinsurer 100% owned by Brooke Re[18] - Hickory Re will reinsure new FA and FIA sales, initially reinsuring $1.2 billion inforce FA/FIA block[18] - Initial capitalization of Hickory Re is $650 million, including $150 million from JFI and $500 million from TPG investment in JFI common equity[10, 18] Financial Impact and Outlook - Expect capital capacity and efficiency to write $10-15 billion of cumulative FA and FIA sales over the medium-term[23] - Actuarial assumption review is expected to have an after-tax impact to Brooke Re equity of approximately $(350) million[26] - Brooke Re continues to be well capitalized relative to regulatory requirements[26]

Strategic Partnership - TPG and Jackson have established a long-term strategic investment management partnership [2, 12] - TPG will manage select general account assets of Jackson's subsidiaries [4] - TPG will invest $500 million in Jackson common stock, representing approximately 65% pro forma ownership [13] - Jackson will receive $150 million of TPG common stock [13] Investment Management Agreement (IMA) - TPG and Jackson will enter into a long duration, auto-renewing investment management agreement [13] - The minimum allocation is $12 billion, with a path to scale to at least $20 billion over time [13] - The initial focus will be on Investment Grade Asset Based Finance (IG ABF) and Direct Lending [13] - A minimum fee of 50 bps is applicable throughout the life of the partnership [17, 21] TPG Credit Expansion - The partnership more than doubles TPG's insurance commitments with 100% fee-paying capital [19] - TPG expects to raise approximately $20 billion of credit capital in 2025 [39] - Total TPG Credit AUM has grown 44% since the end of 2023 [39]

Core Viewpoint - Jackson Financial Inc. has announced a long-term strategic partnership with TPG Inc. to enhance its annuity product offerings and distribution capabilities [1] Group 1: Partnership Details - The partnership combines Jackson's expertise in annuity products and extensive distribution network with TPG's scaled private credit platform [1] - The collaboration aims to expand Jackson's spread-based product sales [1] - The partnership is designed to provide flexibility for future innovative insurance solutions [1]

Group 1 - Jackson Financial Inc. (JXN) has a Zacks Rank 1 and a dividend yield of 3.0%, higher than the industry average of 1.6% [1] - Valero Energy Corporation (VLO) also holds a Zacks Rank 1 with a dividend yield of 2.8%, slightly above the industry average of 2.7% [2] - Suncor Energy Inc. (SU) has seen an increase in the Zacks Consensus Estimate for its current year earnings by 8.6% over the last 60 days [2] Group 2 - The Zacks Consensus Estimate for Jackson Financial's current year earnings has increased by 6.1% over the last 60 days [1] - Valero Energy's current year earnings estimate has risen by 18.2% in the same period [2] - The dividend yield for another Zacks Rank 1 company is reported at 4.0%, compared to the industry average of 3.6% [3]

Core Insights - Three stocks are highlighted with a buy rank and strong value characteristics for investors to consider on December 23 Group 1: Jackson Financial Inc. (JXN) - Jackson Financial is a financial services company with a Zacks Rank 1 [1] - The Zacks Consensus Estimate for its current year earnings has increased by 6.1% over the last 60 days [1] - The company has a price-to-earnings ratio (P/E) of 4.90, significantly lower than the industry average of 11.30 [1] - Jackson Financial possesses a Value Score of A [1] Group 2: Suncor Energy Inc. (SU) - Suncor Energy is an energy company with a Zacks Rank 1 [2] - The Zacks Consensus Estimate for its next year earnings has increased by 8.6% over the last 60 days [2] - The company has a price-to-earnings ratio (P/E) of 13.09, compared to 25.09 for the S&P [2] - Suncor Energy also possesses a Value Score of A [2] Group 3: Valero Energy Corporation (VLO) - Valero Energy is a petroleum company with a Zacks Rank 1 [3] - The Zacks Consensus Estimate for its current year earnings has increased by 18.2% over the last 60 days [3] - The company has a price-to-earnings ratio (P/E) of 16.16, lower than the S&P average of 25.09 [3] - Valero Energy possesses a Value Score of A [3]

Core Insights - Jackson Financial Inc. has appointed Alison Reed as the Head of Distribution for Jackson National Life Distributors LLC, aiming to enhance organizational performance and drive growth initiatives [1][2]. Group 1: Leadership Appointment - Alison Reed brings extensive experience to her new role, having joined Jackson in 2002 and held various leadership positions, including Chief Product Development and Strategy Execution Officer [2]. - Chris Raub, President of Jackson National Life Insurance Company, expressed confidence in Reed's ability to lead JNLD through its next growth phase, emphasizing her understanding of the retirement services industry [2]. Group 2: Company Overview - Jackson Financial Inc. focuses on simplifying retirement planning for financial professionals and their clients through a range of annuity products and award-winning service [3]. - The company aims to provide clarity in retirement planning to drive better outcomes for all stakeholders, including customers, shareholders, and distribution partners [3].

Core Insights - Jackson Financial Inc. has appointed Alison Reed as the Head of Distribution for Jackson National Life Distributors LLC, aiming to enhance organizational performance and drive growth [1][2] - Reed's extensive experience in the retirement services industry and her previous leadership roles at Jackson are expected to contribute to the company's strategic growth [2] Company Overview - Jackson Financial Inc. focuses on simplifying retirement planning for financial professionals and their clients through a variety of annuity products and award-winning service [3] - The company emphasizes a balanced, long-term approach to serving stakeholders, including customers, shareholders, and community partners [3] Leadership Background - Alison Reed has been with Jackson since 2002, holding various leadership positions, including Chief Product Development and Strategy Execution Officer [2] - Reed holds a bachelor's degree from the University of Colorado and an MBA from the University of Denver, along with FINRA Series 7 and 24 registrations [2]