Jackson National Life Insurance Company has reported total sales and deposits of $3.5 billion, including retail sales and deposits of $2.7 billion, for the first quarter of 2008, compared to total sales and deposits of $3.7 billion, including a record $2.8 billion in retail sales and deposits for the first quarter of 2007.
In the first quarter of 2008, Jackson generated life insurance sales of $14 million, up 15% from first quarter 2007. Deposits in the Jackson Funds, which were first launched in January 2007, totaled $33 million in the first quarter of 2008. Jackson sold $801 million in institutional products during the first quarter of 2008, compared to $913 million in the same period of 2007.
Clark Manning, president and CEO of Jackson National Life Insurance Company, said: It’s a testament to the resiliency of Jackson’s business model that we were able to generate this level of sales despite volatile equity markets and a deteriorating macroeconomic environment.
Jackson remains committed to writing profitable business. As the nation’s Baby Boomers move into retirement over the next 10 to 20 years, Jackson is well-positioned to seize the tremendous opportunities created by this retirement wave and deliver long-term, profitable sales growth.