Jackson Financial : National Life Insurance Company 2023 annual statutory statement

ANNUAL STATEMENT

OF THE

JACKSON NATIONAL LIFE INSURANCE COMPANY

TO THE

Insurance Department

OF THE

STATE OF

Michigan

FOR THE YEAR ENDED

DECEMBER 31, 2023

[ X ] LIFE, ACCIDENT AND HEALTH

[ ] FRATERNAL BENEFIT SOCIETIES

2023

.MI

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE JACKSON NATIONAL LIFE INSURANCE COMPANY

ASSETS

								Current Year		Prior Year
							1	2	3	4
									Net Admitted Assets	Net Admitted
							Assets	Nonadmitted Assets	(Cols. 1 - 2)	Assets
1.	Bonds (Schedule D)				38,257,779,802	0	38,257,779,802	44,080,473,401
2.	Stocks (Schedule D):
	2.1 Preferred stocks				172,812,053	0	172,812,053	79,449,130
	2.2 Common stocks				1,110,564,671	5,024,065	1,105,540,606	1,031,129,305
3.	Mortgage loans on real estate (Schedule B):
	3.1 First liens	..................................................................................................				10,278,311,557	0	10,278,311,557	11,588,720,421
	3.2 Other than first liens				0	0	0	0
4.	Real estate (Schedule A):
	4.1 Properties occupied by the company (less $	0
	.......................................................................................encumbrances)				213,878,327	0	213,878,327	229,362,023
	4.2 Properties held for the production of income (less
	$	0	encumbrances)		7,172,124	0	7,172,124	7,172,124
	4.3 Properties held for sale (less $	0
	.......................................................................................encumbrances)				................... 5,541,097	.................................0	................... 5,541,097	...................... 306,985
5.	Cash ($	192,715,787	, Schedule E - Part 1), cash equivalents
	($	753,199,633	, Schedule E - Part 2) and short-term
	investments ($	1,118,412,043 , Schedule DA)	2,064,327,463	0	2,064,327,463	4,158,358,643
6.	Contract loans (including $	.................................	0	premium notes)	4,243,593,375	1,877,489	4,241,715,886	4,223,154,438
7.	.............................................................................Derivatives (Schedule DB)				................. 84,816,291	.................................0	................. 84,816,291	................832,748,828
8.	............................................................Other invested assets (Schedule BA)		2,101,790,972	18,668,360	2,083,122,612	2,566,654,576
9.	Receivables for securities				48,966,740	0	48,966,740	101,546,883
10.	Securities lending reinvested collateral assets (Schedule DL)	13,049,799	0	13,049,799	23,315,587
11.	.........................................................Aggregate write-ins for invested assets		.................................0	.................................0	.................................0	.................................0
12.	.....................................Subtotals, cash and invested assets (Lines 1 to 11)		.......... 58,602,604,271	................. 25,569,914	...........58,577,034,357	.......... 68,922,392,343
13.	Title plants less $	0 charged off (for Title insurers
	only)					0	0	0	0
14.	Investment income due and accrued		587,242,759	1,337,287	585,905,472	633,061,641
15.	Premiums and considerations:
	15.1 Uncollected premiums and agents' balances in the course of collection	................163,476,840	................... 2,766,232	................160,710,608	................188,314,525
	15.2 Deferred premiums, agents' balances and installments booked but
	deferred and not yet due (including $	0
	earned but unbilled premiums)		42,373,841	0	42,373,841	45,880,101
	.................................15.3 Accrued retrospective premiums ($	0 ) and
	contracts subject to redetermination ($	0 )	.................................0	0	0	0

16. Reinsurance:

	16.1	Amounts recoverable from reinsurers	232,890,590	0	232,890,590	316,699,985
	16.2	Funds held by or deposited with reinsured companies	0	0	0	0
	16.3	........................Other amounts receivable under reinsurance contracts	(92,901,597)	.................................0	................(92,901,597)	................(92,458,625)
17.	............................................Amounts receivable relating to uninsured plans	.................................0	.................................0	.................................0	.................................0
18.1	....Current federal and foreign income tax recoverable and interest thereon	.................................0	.................................0	.................................0	............... 128,216,662
18.2	Net deferred tax asset	...................................................................................	............ 2,463,114,482	............ 1,856,172,166	................606,942,316	................781,090,094
19.	Guaranty funds receivable or on deposit	...................1,646,582	.................................0	...................1,646,582	................... 1,123,689
20.	.....................................Electronic data processing equipment and software	................... 2,570,567	.................................0	................... 2,570,567	.......................163,571
21.	Furniture and equipment, including health care delivery assets
	.................................($	................. 14,243,186	................. 14,243,186	.................................0	.................................0
22.	Net adjustment in assets and liabilities due to foreign exchange rates	.................................0	.................................0	.................................0	.................................0
23.	Receivables from parent, subsidiaries and affiliates	.................................0	.................................0	.................................0	.................................0
24.	Health care ($	0 ) and other amounts receivable	.................................0	.................................0	.................................0	.................................0
25.	........................................Aggregate write-ins for other than invested assets	............ 1,057,592,373	................. 46,832,718	............ 1,010,759,655	...................... 402,484

26. Total assets excluding Separate Accounts, Segregated Accounts and

	Protected Cell Accounts (Lines 12 to 25)	63,074,853,894	1,946,921,503	61,127,932,391	70,924,886,470
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts	208,449,178,509	0	208,449,178,509	183,704,207,314
28.	Total (Lines 26 and 27)	271,524,032,403	1,946,921,503	269,577,110,900	254,629,093,784
	DETAILS OF WRITE-INS
1101.	......................................................................................................................	....................................	....................................	....................................	....................................
1102.	......................................................................................................................	....................................	....................................	....................................	....................................
1103.	......................................................................................................................	....................................	....................................	....................................	....................................
1198.	Summary of remaining write-ins for Line 11 from overflow page	.................................0	.................................0	.................................0	.................................0
1199.	Totals (Lines 1101 thru 1103 plus 1198)(Line 11 above)	0	0	0	0
2501.	Agents' balances (net)	2,913,338	2,913,338	0	0
2502.	Capitalized software and associated costs	15,917,357	................. 15,917,357	.................................0	.................................0
2503.	Admitted disallowed IMR	252,976,820	.................................0	................252,976,820	.................................0
2598.	Summary of remaining write-ins for Line 25 from overflow page	................785,784,858	................. 28,002,023	................757,782,835	...................... 402,484
2599.	Totals (Lines 2501 thru 2503 plus 2598)(Line 25 above)	1,057,592,373	46,832,718	1,010,759,655	402,484

2

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE JACKSON NATIONAL LIFE INSURANCE COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

					1	2
					Current Year	Prior Year
1.	Aggregate reserve for life contracts $	25,250,874,249 (Exh. 5, Line 9999999) less $	0
	included in Line 6.3 (including $	0 Modco Reserve)	..........................................................................	25,250,874,249	27,779,493,493
2.	Aggregate reserve for accident and health contracts (including $	0 Modco Reserve)	0	0
3.	Liability for deposit-type contracts (Exhibit 7, Line 14, Col. 1) (including $	.................................0	Modco Reserve)	............ 9,011,731,922	9,691,716,498

4. Contract claims:

4.1	Life (Exhibit 8, Part 1, Line 4.4, Col. 1 less Col. 6)	................760,037,227	857,768,760
4.2	Accident and health (Exhibit 8, Part 1, Line 4.4, Col. 6)	.................................0	0
5. Policyholders' dividends/refunds to members $	181,675 and coupons $	0 due
and unpaid (Exhibit 4, Line 10)	...................... 181,675	193,501

6. Provision for policyholders' dividends, refunds to members and coupons payable in following calendar year - estimated amounts:

	6.1	Policyholders' dividends and refunds to members apportioned for payment (including $	0
		Modco)		................... 8,017,618	................... 8,146,667
	6.2	...............................Policyholders' dividends and refunds to members not yet apportioned (including $	0 Modco) ....	..........................5,868	..........................5,921
	6.3	Coupons and similar benefits (including $	0 Modco)	........................ 34,124	........................ 36,889
7.	.......................................................................Amount provisionally held for deferred dividend policies not included in Line 6	.................................0	.................................0
8.	Premiums and annuity considerations for life and accident and health contracts received in advance less
	$	.................................0 discount; including $	0 accident and health premiums (Exhibit 1,
	Part 1, Col. 1, sum of lines 4 and 14)		2,001,208	2,463,037

9. Contract liabilities not included elsewhere:

	9.1	............................................................................................................................Surrender values on canceled contracts				.......................360,722	...................... 294,967
	9.2	Provision for experience rating refunds, including the liability of $	0	accident and health
		experience rating refunds of which $	0 is for medical loss ratio rebate per the Public Health
		Service Act					.................................0	.................................0
	9.3 Other amounts payable on reinsurance, including $	(67,411,898) assumed and $	25,083,270
		ceded					................(42,328,628)	................(42,540,807)
	........................................................................................................................9.4 Interest maintenance reserve (IMR, Line 6)				.................................0	................218,794,655
10.	Commissions to agents due or accrued-life and annuity contracts $	119,287,510	accident and health
	$	.................................	0 and deposit-type contract funds $	.................................	0		................119,287,510	................102,066,023
11.	Commissions and expense allowances payable on reinsurance assumed	..............................................................................		................... 7,009,646	................... 7,400,817
12.	..................................................................................................General expenses due or accrued (Exhibit 2, Line 12, Col. 7)				................208,003,317	................187,924,790
13.	Transfers to Separate Accounts due or accrued (net) (including $	(4,608,678,462)	accrued for expense
	...........................................................................................allowances recognized in reserves, net of reinsured allowances)			.......... (4,499,523,716)	.......... (5,068,708,696)
14.	Taxes, licenses and fees due or accrued, excluding federal income taxes (Exhibit 3, Line 9, Col. 6)	...................2,506,082	................... 3,029,643
15.1	Current federal and foreign income taxes, including $	(103,788,989) on realized capital gains (losses)	...................... 720,888	.................................0
15.2	.............................................................................................................................................................Net deferred tax liability					.................................0	.................................0
16.	...................................................................................................................................................Unearned investment income				...................5,856,806	................... 6,163,706
17.	........................................................................................Amounts withheld or retained by reporting entity as agent or trustee			................. (4,495,899)	................... 7,654,871
18.	Amounts held for agents' account, including $	665,733	agents' credit balances	.......................665,733	................... 7,292,694
19.	Remittances and items not allocated				................. 40,834,317	................. 29,333,714
20.	.....................................................................................Net adjustment in assets and liabilities due to foreign exchange rates			.................................0	.................................0
21.	.......................................................................................Liability for benefits for employees and agents if not included above			.................................0	.................................0
22.	Borrowed money $	.......................307,184,216 and interest thereon $	433,563	............................................	307,617,779	62,358,201
23.	Dividends to stockholders declared and unpaid				0	0

24. Miscellaneous liabilities:

	24.01	...............................................................................................................Asset valuation reserve (AVR, Line 16, Col. 7)		................489,670,272	................986,973,575
	.................................24.02 Reinsurance in unauthorized and certified ($	0 ) companies	.................................0	................. 33,126,116
	.................................24.03 Funds held under reinsurance treaties with unauthorized and certified ($	0 ) reinsurers	............ 3,628,585,238	............ 3,588,451,909
	24.04	Payable to parent, subsidiaries and affiliates		................153,040,015	................125,417,249
	24.05	Drafts outstanding			.................................0	.................................0
	24.06	............................................................................................................Liability for amounts held under uninsured plans		.................................0	.................................0
	24.07	........................................................................................................................................Funds held under coinsurance			.......... 18,856,107,393	.......... 22,550,116,564
	24.08	Derivatives			................904,690,876	............ 1,710,736,937
	24.09	Payable for securities			................... 4,882,769	................. 44,781,703
	24.10	Payable for securities lending			................. 13,049,799	................. 23,315,587
	.................................24.11 Capital notes $	0 and interest thereon $	.........................................................................0	.................................0	.................................0
25.	................................................................................................................................................Aggregate write-ins for liabilities			1,245,885,934	2,013,659,827
26.	.....................................................................................Total liabilities excluding Separate Accounts business (Lines 1 to 25)		56,475,310,744	64,937,468,811
27.	.........................................................................................................................................From Separate Accounts Statement			.........208,449,178,509	.........183,704,207,314
28.	Total liabilities (Lines 26 and 27)			264,924,489,253	248,641,676,125
29.	...............................................................................................................................................................Common capital stock			................. 13,800,000	................. 13,800,000
30.	...............................................................................................................................................................Preferred capital stock			.................................0	.................................0
31.	Aggregate write-ins for other than special surplus funds		.................................0	.................................0
32.	.............................................................................................................................................................................Surplus notes			................249,817,050	................249,768,871
33.	...............................................Gross paid in and contributed surplus (Page 3, Line 33, Col. 2 plus Page 4, Line 51.1, Col. 1)	............ 4,631,054,966	............ 4,781,054,966
34.	............................................................................................................................Aggregate write-ins for special surplus funds		252,976,820	0
35.	Unassigned funds (surplus)			(495,027,189)	942,793,822

36. Less treasury stock, at cost:

	36.1	0 shares common (value included in Line 29	$	.................................0	)	.................................0	.................................0
	36.2	0 shares preferred (value included in Line 30	$	.................................0	)	.................................0	.................................0
37.	Surplus (Total Lines 31+32+33+34+35-36) (including $	0 in Separate Accounts Statement)	4,638,821,647	5,973,617,659
38.	......................................................................................................................Totals of Lines 29, 30 and 37 (Page 4, Line 55)			4,652,621,647	5,987,417,659
39.	Totals of Lines 28 and 38 (Page 2, Line 28, Col. 3)				269,577,110,900	254,629,093,784
	DETAILS OF WRITE-INS
2501.	Deferred compensation
			308,505,241	................305,248,400
2502.	Deferred rent				5,217,431	...................8,444,628
2503.	Founders Plan liability				73,356	........................ 78,603
2598.	..............................................................................................Summary of remaining write-ins for Line 25 from overflow page			................932,089,906	............ 1,699,888,196
2599.	Totals (Lines 2501 thru 2503 plus 2598)(Line 25 above)				1,245,885,934	2,013,659,827
3101		....................................

3102		....................................
3103		....................................
3198.	Summary of remaining write-ins for Line 31 from overflow page	.................................0	.................................0
3199.	Totals (Lines 3101 thru 3103 plus 3198)(Line 31 above)	0	0
3401.	Admitted disallowed IMR	252,976,820	.................................0

3402
3403
3498.	Summary of remaining write-ins for Line 34 from overflow page	0	.................................0
3499.	Totals (Lines 3401 thru 3403 plus 3498)(Line 34 above)	252,976,820	0

3

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE JACKSON NATIONAL LIFE INSURANCE COMPANY

SUMMARY OF OPERATIONS

1	2
Current Year	Prior Year

1. Premiums and annuity considerations for life and accident and health contracts (Exhibit 1, Part 1, Line 20.4, Col. 1 less

	Col. 8)	13,227,578,114	16,204,649,433
2.	Considerations for supplementary contracts with life contingencies	1,443,096	4,942,494
3.	Net investment income (Exhibit of Net Investment Income, Line 17)	2,854,546,582	3,259,909,259
4.	Amortization of Interest Maintenance Reserve (IMR, Line 5)	(732,212,449)	108,459,287
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	210,501,922	152,510,977
6.	Commissions and expense allowances on reinsurance ceded (Exhibit 1, Part 2, Line 26.1, Col. 1)	54,250,064	56,511,484
7.	Reserve adjustments on reinsurance ceded	0	0

8. Miscellaneous Income:

	8.1 Income from fees associated with investment management, administration and contract guarantees from Separate
	Accounts	5,381,405,978	5,364,789,635
	8.2 Charges and fees for deposit-type contracts	.................................0	.................................0
	8.3 Aggregate write-ins for miscellaneous income	696,024,124	715,425,361
9.	Total (Lines 1 to 8.3)	21,693,537,431	25,867,197,930
10.	Death benefits	................959,746,507	............ 1,017,100,725
11.	Matured endowments (excluding guaranteed annual pure endowments)	................... 7,461,284	................... 5,629,931
12.	Annuity benefits (Exhibit 8, Part 2, Line 6.4, Cols. 4 + 5 minus Analysis of Operations Summary, Line 18, Col. 1)	............ 3,368,373,749	............ 3,421,406,029
13.	Disability benefits and benefits under accident and health contracts	................. 12,986,326	................. 13,446,300
14.	Coupons, guaranteed annual pure endowments and similar benefits	........................ 60,543	........................ 60,587
15.	Surrender benefits and withdrawals for life contracts	.......... 19,641,071,563	.......... 16,545,762,968
16.	Group conversions	.................................0	.................................0
17.	Interest and adjustments on contract or deposit-type contract funds	................329,305,130	............... 201,561,904
18.	Payments on supplementary contracts with life contingencies	................. 15,416,294	...................8,912,205
19.	Increase in aggregate reserves for life and accident and health contracts	(2,528,619,250)	482,195,406
20.	Totals (Lines 10 to 19)	21,805,802,146	.......... 21,696,076,055

21. Commissions on premiums, annuity considerations, and deposit-type contract funds (direct business only) (Exhibit 1, Part

	2, Line 31, Col. 1)	1,608,629,730	1,701,012,516
22.	Commissions and expense allowances on reinsurance assumed (Exhibit 1, Part 2, Line 26.2, Col. 1)	144,233,819	164,639,855
23.	General insurance expenses and fraternal expenses (Exhibit 2, Line 10, Cols. 1, 2, 3, 4 and 6)	767,893,774	................637,102,691
24.	Insurance taxes, licenses and fees, excluding federal income taxes (Exhibit 3, Line 7, Cols. 1 + 2 + 3 + 5)	................. 40,013,910	................. 56,744,501
25.	Increase in loading on deferred and uncollected premiums	................. (1,624,402)	.....................(233,615)
26.	Net transfers to or (from) Separate Accounts net of reinsurance	.......... (6,514,053,536)	.......... (3,495,688,864)
27.	Aggregate write-ins for deductions	1,049,725,454	981,276,411
28.	Totals (Lines 20 to 27)	18,900,620,895	21,740,929,550

29. Net gain from operations before dividends to policyholders, refunds to members and federal income taxes (Line 9 minus

	Line 28)	............ 2,792,916,536	4,126,268,381
30.	Dividends to policyholders and refunds to members	8,386,105	7,673,929
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal income taxes (Line 29
	minus Line 30)	............ 2,784,530,431	4,118,594,452
32.	Federal and foreign income taxes incurred (excluding tax on capital gains)	966,356,102	96,261,286

33. Net gain from operations after dividends to policyholders, refunds to members and federal income taxes and before

	realized capital gains or (losses) (Line 31 minus Line 32)	.......................................................................................................	1,818,174,329	4,022,333,166
34.	Net realized capital gains (losses) (excluding gains (losses) transferred to the IMR) less capital gains tax of
	$	(545,555,139) (excluding taxes of $	......................................(342,796,974) transferred to the IMR)	(1,939,868,362)	(334,730,587)
35.	Net income (Line 33 plus Line 34)		(121,694,033)	............ 3,687,602,579
		CAPITAL AND SURPLUS ACCOUNT
36.	...................................................................................Capital and surplus, December 31, prior year (Page 3, Line 38, Col. 2)	5,987,417,659	6,098,185,448
37.	Net income (Line 35)		(121,694,033)	............ 3,687,602,579
38.	...........Change in net unrealized capital gains (losses) less capital gains tax of $	(204,066,144)	..............(652,824,962)	.......... (1,960,366,408)
39.	Change in net unrealized foreign exchange capital gain (loss)	.................................0	.................................0
40.	Change in net deferred income tax		................398,027,531	..............(529,550,399)
41.	Change in nonadmitted assets		..............(768,984,879)	................... 7,578,856
42.	.............................................................................Change in liability for reinsurance in unauthorized and certified companies	................. 33,126,114	................... 3,954,231
43.	Change in reserve on account of change in valuation basis, (increase) or decrease	...............................................................	.................................0	.................................0
44.	............................................................................................................................................Change in asset valuation reserve		................497,303,304	..............(472,559,806)
45.	Change in treasury stock (Page 3, Lines 36.1 and 36.2, Col. 2 minus Col. 1)	.................................0	.................................0
46.	Surplus (contributed to) withdrawn from Separate Accounts during period	............... 210,501,922	................152,510,977
47.	Other changes in surplus in Separate Accounts Statement	......................................................................................................	..............(210,501,922)	..............(152,510,977)
48.	............................................................................................................................................................Change in surplus notes		........................ 48,180	........................ 44,372
49.	Cumulative effect of changes in accounting principles		.................................0	.................................0
50.	Capital changes:
	50.1 Paid in	................................................................................................................................................................................		.................................0	.................................0
	50.2 Transferred from surplus (Stock Dividend)		.................................0	.................................0
	.......................................................................................................................................................50.3 Transferred to surplus		.................................0	.................................0

51. Surplus adjustment:

	51.1 Paid in	(150,000,000)	(600,000,000)
	51.2 Transferred to capital (Stock Dividend)	0	0
	51.3 Transferred from capital	0	.................................0
	51.4 Change in surplus as a result of reinsurance	..............(119,797,266)	..............(247,471,214)
52.	Dividends to stockholders	..............(450,000,000)	.................................0
53.	Aggregate write-ins for gains and losses in surplus	0	0
54.	Net change in capital and surplus for the year (Lines 37 through 53)	(1,334,796,011)	(110,767,789)
55.	Capital and surplus, December 31, current year (Lines 36 + 54) (Page 3, Line 38)	4,652,621,647	5,987,417,659
	DETAILS OF WRITE-INS
.....................................................................................................................................................................08.301. General account policy fees	83,720,714	................. 87,032,622
08.302. Marketing fees	607,866,268	............... 619,258,615
08.303. Miscellaneous income	7,333,964	................... 5,270,885
.............................................................................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page	................. (2,896,822)	................... 3,863,240
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398)(Line 8.3 above)	696,024,124	715,425,361
2701.	Additional contract benefits to Founders Plan policyholders	73,406	........................ 78,714
2702.	Amortization of goodwill and value of business acquired	0	................. 32,751,970
2703.	Interest on funds withheld treaties	1,169,449,314	............ 1,195,916,938
2798.	Summary of remaining write-ins for Line 27 from overflow page	..............(119,797,266)	..............(247,471,211)
2799.	Totals (Lines 2701 thru 2703 plus 2798)(Line 27 above)	1,049,725,454	981,276,411
5301		....................................

5302		....................................
5303		....................................
5398.	Summary of remaining write-ins for Line 53 from overflow page	.................................0	.................................0
5399.	Totals (Lines 5301 thru 5303 plus 5398)(Line 53 above)	0	0

4

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE JACKSON NATIONAL LIFE INSURANCE COMPANY

CASH FLOW

Cash from Operations

1

Current Year

2

Prior Year

1.	.....................................................................................................................................Premiums collected net of reinsurance	...........13,259,779,354	.......... 16,199,182,022
2.	..............................................................................................................................................................Net investment income	............ 2,489,559,303	............ 2,775,798,890
3.	...............................................................................................................................................................Miscellaneous income	6,127,179,131	6,142,772,015
4.	Total (Lines 1 through 3)	21,876,517,788	25,117,752,928
5.	Benefit and loss related payments	.......... 24,164,286,659	.......... 20,952,875,021
6.	.......................................................Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts	.......... (6,861,122,661)	.......... (3,906,151,912)
7.	.....................................................................................Commissions, expenses paid and aggregate write-ins for deductions	............ 2,951,813,188	............ 2,529,558,169
8.	.................................................................................................................................................Dividends paid to policyholders	................... 8,527,033	................... 8,203,957
9.	.................................Federal and foreign income taxes paid (recovered) net of $	0 tax on capital gains (losses)	(22,119,793)	(11,679,417)
10.	Total (Lines 5 through 9)	20,241,384,426	19,572,805,818
11.	Net cash from operations (Line 4 minus Line 10)	1,635,133,362	5,544,947,110
		Cash from Investments
12.	Proceeds from investments sold, matured or repaid:
	12.1	Bonds	............ 7,790,461,978	.......... 10,958,764,294
	12.2	Stocks	................239,490,638	................. 44,233,944
	12.3	Mortgage loans	............ 2,077,633,262	............ 1,682,161,230
	12.4	Real estate	................... 4,418,748	...................... 200,256
	12.5	Other invested assets	............... 928,952,468	............... 544,506,490
	12.6	Net gains or (losses) on cash, cash equivalents and short-term investments	..................................................................	.................................0	.................................0
	12.7	Miscellaneous proceeds	(2,484,913,742)	3,278,801,684
	12.8 Total investment proceeds (Lines 12.1 to 12.7)	............ 8,556,043,352	.......... 16,508,667,898
13.	Cost of investments acquired (long-term only):
	13.1	Bonds	............ 2,828,856,359	............ 7,850,162,616
	13.2	Stocks	................195,330,932	................219,890,319
	13.3	Mortgage loans	................837,866,956	............ 1,750,467,289
	13.4	Real estate	................... 2,263,257	................... 1,800,887
	13.5	Other invested assets	................450,378,654	................647,787,944
	13.6	Miscellaneous applications	1,902,317,323	3,714,644,333
	13.7	Total investments acquired (Lines 13.1 to 13.6)	6,217,013,481	14,184,753,388
14.	Net increase/(decrease) in contract loans and premium notes	18,277,683	(126,932,732)
15.	Net cash from investments (Line 12.8 minus Line 13.7 minus Line 14)	2,320,752,188	2,450,847,243
		Cash from Financing and Miscellaneous Sources
16.	Cash provided (applied):
	16.1	Surplus notes, capital notes	.................................0	.................................0
	................................................................................................................16.2 Capital and paid in surplus, less treasury stock	..............(150,000,000)	..............(600,000,000)
	.................................................................................................................................................................16.3 Borrowed funds	................244,960,527	................. (5,039,473)
	..............................................................................16.4 Net deposits on deposit-type contracts and other insurance liabilities	.......... (1,143,229,189)	..............(113,791,670)
	.................................................................................................................................................16.5 Dividends to stockholders	............... 450,000,000	.................................0
	16.6 Other cash provided (applied)	(4,551,648,068)	(4,170,118,279)
17.	Net cash from financing and miscellaneous sources (Lines 16.1 to 16.4 minus Line 16.5 plus Line 16.6)	(6,049,916,730)	(4,888,949,422)
		RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
18.	........................................Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)	(2,094,031,180)	3,106,844,930
19.	Cash, cash equivalents and short-term investments:
	...............................................................................................................................................................19.1 Beginning of year	............ 4,158,358,643	............ 1,051,513,712
	19.2 End of year (Line 18 plus Line 19.1)		2,064,327,463	4,158,358,643
Note: Supplemental disclosures of cash flow information for non-cash transactions:
20.0001. Debt and equity securities acquired from exchange transactions	............... 446,816,656	............... 402,464,626
.....................................................................................20.0002. Debt and equity securities disposed from exchange transactions	................437,005,574	.................................0
....................................................................................................20.0003. Transfer of debt securities for other invested assets	.................................0	................104,427,376
20.0004. Non-cashfinancial assets acquired from subsidiary	.................................0	80,369,902
20.0005. Non-cashfinancial assets acquired from parent	.................................0	................. 24,582,031
.......................................................................................................20.0006. Non-cashfinancial assets transferred to subsidiary	................... 8,155,867	................. 14,411,520
.............................................................................................20.0007. Non-cashfinancial assets transferred to separate account	............... 222,115,855	.................................0

5

6

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE JACKSON NATIONAL LIFE INSURANCE COMPANY

ANALYSIS OF OPERATIONS BY LINES OF BUSINESS - SUMMARY

		1	2	3	4	5	6	7		8		9
										Other Lines of		YRT Mortality
		Total	Individual Life	Group Life	Individual Annuities	Group Annuities	Accident and Health	Fraternal		Business		Risk Only
1.	Premiums and annuity considerations for life and accident and health contracts	............ 13,227,578,114	.................370,299,851	.................... 1,908,210	............ 12,490,291,081	.................365,078,972	................................. 0	.................................	0	.................................	0	................................. 0
2.	Considerations for supplementary contracts with life contingencies	.................... 1,443,096	...............XXX	...............XXX	.................... 1,443,096	................................. 0	...............XXX	...............XXX	.................................	0	...............XXX
3.	Net investment income	............. 2,854,546,582	.................684,119,228	.................... 1,131,634	..............1,369,968,164	.................785,233,695	...................14,093,861	.................................	0	.................................	0	................................. 0
4.	Amortization of Interest Maintenance Reserve (IMR)	............... (732,212,449)	...................15,309,871	.........................48,091	(545,996,674)	(201,573,737)	0	.................................	0	.................................	0	0
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	.................210,501,922	................................. 0	................................. 0	.................210,501,922	................................. 0	................................. 0	...............XXX	.................................	0	................................. 0
6.	Commissions and expense allowances on reinsurance ceded	.................. 54,250,064	...................15,304,041	.........................44,351	...................34,189,213	.................... 2,906,684	.................... 1,805,775	...............XXX	.................................	0	................................. 0
7.	Reserve adjustments on reinsurance ceded	................................. 0	................................. 0	................................. 0	0	0	0	...............XXX	.................................	0	0
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and
	contract guarantees from Separate Accounts	..............5,381,405,978	....................... 432,437	.................... 2,333,544	5,114,944,622	263,695,375	0	...............XXX	.................................	0	0
	8.2 Charges and fees for deposit-type contracts	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	...............XXX	.................................	0	................................. 0
	8.3 Aggregate write-ins for miscellaneous income	696,024,124	4,434,238	56	509,041,398	182,548,432	0		0		0	0
9.	Totals (Lines 1 to 8.3)	21,693,537,431	1,089,899,666	5,465,886	19,184,382,822	1,397,889,421	15,899,636		0		0	0
10.	Death benefits	.................959,746,507	.................956,525,367	.................... 3,221,140	................................. 0	................................. 0	...............XXX	...............XXX	.................................	0	................................. 0
11.	Matured endowments (excluding guaranteed annual pure endowments)	.................... 7,461,284	.................... 7,461,284	................................. 0	0	0	...............XXX	...............XXX	.................................	0	0
12.	Annuity benefits	..............3,368,373,749	...............XXX	...............XXX	............. 2,708,885,276	.................659,488,473	...............XXX	...............XXX	.................................	0	...............XXX
13.	Disability benefits and benefits under accident and health contracts	.................. 12,986,326	...................12,971,506	.........................14,820	................................. 0	................................. 0	................................. 0	...............XXX	.................................	0	................................. 0
14.	Coupons, guaranteed annual pure endowments and similar benefits	.........................60,543	.........................60,543	................................. 0	................................. 0	................................. 0	................................. 0	...............XXX	.................................	0	................................. 0
15.	Surrender benefits and withdrawals for life contracts	............ 19,641,071,563	.................215,769,878	......................... 94,997	16,982,497,163	2,442,709,525	...............XXX	...............XXX	.................................	0	0
16.	Group conversions	................................. 0	................................. 0	................................. 0	0	0	0	...............XXX	.................................	0	0
17.	Interest and adjustments on contract or deposit-type contract funds	.................329,305,130	....................6,484,368	................................. 0	.................(10,337,730)	.................333,158,492	................................. 0	...............XXX	.................................	0	................................. 0
18.	Payments on supplementary contracts with life contingencies	...................15,416,294	................................. 0	................................. 0	...................15,416,294	................................. 0	...............XXX	...............XXX	.................................	0	................................. 0
19.	Increase in aggregate reserves for life and accident and health contracts	(2,528,619,250)	(299,627,574)	(244,774)	(1,585,173,051)	(643,573,851)	0	XXX			0	0
20.	Totals (Lines 10 to 19)	............21,805,802,146	.................899,645,372	....................3,086,183	............ 18,111,287,952	..............2,791,782,639	................................. 0	...............XXX	.................................	0	................................. 0
21.	Commissions on premiums, annuity considerations and deposit-type contract funds
	(direct business only)	..............1,608,629,730	.................... 3,440,257	...........................9,324	..............1,497,621,779	.................105,951,205	.................... 1,607,165	.................................	0	.................................	0	...............XXX
22.	Commissions and expense allowances on reinsurance assumed	.................144,233,819	.................. (2,830,314)	................................. 0	.................120,216,041	.................. 26,649,482	....................... 198,610	...............XXX	.................................	0	................................. 0
23.	General insurance expenses and fraternal expenses	.................767,893,774	.................164,841,631	....................... 517,795	427,056,111	175,478,237	0	.................................	0	.................................	0	0
24.	Insurance taxes, licenses and fees, excluding federal income taxes	...................40,013,910	.................. 12,353,325	.........................39,537	19,645,914	7,975,134	0	.................................	0	.................................	0	0
25.	Increase in loading on deferred and uncollected premiums	.................. (1,624,402)	...................(1,623,120)	.........................(1,282)	................................. 0	................................. 0	................................. 0	...............XXX	.................................	0	................................. 0
26.	Net transfers to or (from) Separate Accounts net of reinsurance	............(6,514,053,536)	.................. (3,043,162)	..................... (278,887)	............(4,536,322,548)	............ (1,974,408,939)	................................. 0	...............XXX	.................................	0	................................. 0
27.	Aggregate write-ins for deductions	1,049,725,454	316,123,843	(211,791)	728,272,247	(8,552,706)	14,093,861		0		0	0
28.	Totals (Lines 20 to 27)	18,900,620,895	1,388,907,832	3,160,879	16,367,777,496	1,124,875,052	15,899,636		0		0	0
29.	Net gain from operations before dividends to policyholders, refunds to members and
	federal income taxes (Line 9 minus Line 28)	..............2,792,916,536	............... (299,008,166)	.................... 2,305,007	..............2,816,605,326	.................273,014,369	................................. 0	.................................	0	.................................	0	................................. 0
30.	Dividends to policyholders and refunds to members	8,386,105	8,386,105	0	0	0	0	XXX			0	0
31.	Net gain from operations after dividends to policyholders, refunds to members and
	before federal income taxes (Line 29 minus Line 30)	..............2,784,530,431	............... (307,394,271)	.................... 2,305,007	..............2,816,605,326	.................273,014,369	................................. 0	.................................	0	.................................	0	................................. 0
32.	Federal income taxes incurred (excluding tax on capital gains)	966,356,102	(64,552,798)	484,052	973,091,830	57,333,018	0		0		0	0
33.	Net gain from operations after dividends to policyholders, refunds to members and
	federal income taxes and before realized capital gains or (losses) (Line 31 minus
	Line 32)	1,818,174,329	(242,841,473)	1,820,955	1,843,513,496	215,681,351	0		0		0	0
34.	Policies/certificates in force end of year	2,396,162	945,012	12,386	1,261,015	177,749	0	XXX			0	0
	DETAILS OF WRITE-INS
..................................................................................08.301. General account policy fees	.................. 83,720,714	................................. 0	................................. 0	.................. 74,829,957	....................8,890,757	................................. 0	.................................	0	.................................	0	................................. 0
.......................................................................................................08.302. Marketing fees	.................607,866,268	................................. 0	................................. 0	.................434,208,593	.................173,657,675	................................. 0	.................................	0	.................................	0	................................. 0
08.303. Miscellaneous income	.................... 7,333,964	.................... 7,331,474	................................. 0	2,490	0	0	.................................	0	.................................	0	0
08.398. Summary of remaining write-ins for Line 8.3 from overflow page	.................. (2,896,822)	.................. (2,897,236)	............................... 56	..............................358	................................. 0	................................. 0	.................................	0	.................................	0	................................. 0
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398) (Line 8.3 above)	696,024,124	4,434,238	56	509,041,398	182,548,432	0		0		0	0
2701.	Additional contract benefits to founders plan policyholders	.........................73,406	.........................73,406	................................. 0	................................. 0	................................. 0	................................. 0	.................................	0	.................................	0	................................. 0
2702.	Interest on funds withheld treaties	..............1,169,449,314	.................323,861,016	................................. 0	831,494,437	0	14,093,861	.................................	0	.................................	0	0
2703.	Reinsurance on in-forcebusiness	.................(10,186,395)	.................. (7,810,579)	......................(211,791)	(2,164,025)	0	0	.................................	0	.................................	0	0
2798.	Summary of remaining write-ins for Line 27 from overflow page	............... (109,610,871)	................................. 0	................................. 0	(101,058,165)	(8,552,706)	0	.................................	0	.................................	0	0
2799.	Totals (Lines 2701 thru 2703 plus 2798) (Line 27 above)	1,049,725,454	316,123,843	(211,791)	728,272,247	(8,552,706)	14,093,861		0		0	0

6.1

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE JACKSON NATIONAL LIFE INSURANCE COMPANY

ANALYSIS OF OPERATIONS BY LINES OF BUSINESS - INDIVIDUAL LIFE INSURANCE (b)

		1	2	3	4	5	6	7	8	9	10		11		12
								Universal Life
								With Secondary		Variable	Credit Life		Other Individual		YRT Mortality
		Total	Industrial Life	Whole Life	Term Life	Indexed Life	Universal Life	Guarantees	Variable Life	Universal Life	(c)		Life		Risk Only
1.	Premiums for life contracts (a)	........... 370,299,851	154,271	............ 39,267,133	........... 120,080,802	..........................0	........... 156,338,846	.............52,176,321	..........................0	.............. 2,282,478	..........................	0	..........................	0	..........................0
2.	Considerations for supplementary contracts with life contingencies	...........XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX	XXX
3.	Net investment income	........... 684,119,228	............ 10,776,184	...........199,276,393	............ 34,458,304	..........................0	...........347,442,113	.............91,555,367	..........................0	................. 610,867	..........................	0	..........................	0	..........................0
4.	Amortization of Interest Maintenance Reserve (IMR)	............ 15,309,871	.................253,893	..............4,218,972	.................228,979	..........................0	.............. 8,024,841	.............. 2,561,430	0	.................. 21,756	..........................	0	..........................	0	..........................0

5. Separate Accounts net gain from operations excluding unrealized gains or

	losses	..........................0	0	..........................0	..........................0	0	..........................0	0	0	0	0	0	0
6.	Commissions and expense allowances on reinsurance ceded	............ 15,304,041	0	..............1,308,964	.............. 8,851,520	0	..............5,143,557	0	0	0	0	0	0
7.	Reserve adjustments on reinsurance ceded	..........................0	0	..........................0	..........................0	0	..........................0	0	0	0	0	0	0

8. Miscellaneous Income:

	8.1 Income from fees associated with investment management,
	administration and contract guarantees from Separate Accounts		.................432,437		..........................0		....................6,920		..........................0		..........................0		..............	3,750,108	.............(5,800,569)		0		..............2,475,978		..........................0		..........................0		..........................0
	8.2 Charges and fees for deposit-type contracts												..........................	0
		..........................0		..........................0		..........................0		..........................0		..........................0				..........................0		..........................0		..........................0		..........................0		..........................0		..........................0
	8.3 Aggregate write-ins for miscellaneous income		4,434,238		0		3,054,923		4,564,354		0			(3,244,547)	59,440		0		68		0		0		0
9.	Totals (Lines 1 to 8.3)		1,089,899,666		11,184,348		247,133,305		168,183,959		0			517,454,918	140,551,989		0		5,391,147		0		0		0
10.	Death benefits		........... 956,525,367		1,768,416		........... 205,409,129		...........139,740,493		..........................0		...........	509,410,365	.............96,765,662		..........................0		..............3,431,302		..........................0		..........................0		..........................0
11.	Matured endowments (excluding guaranteed annual pure endowments)		..............7,461,284		324,582		.............. 3,352,180		..........................0		..........................0		..............	3,784,522	..........................0		..........................0		..........................0		..........................0		..........................0		..........................0
12.	Annuity benefits		...........XXX	.......................XXX	.......................XXX	XXX	XXX		XXX	XXX	XXX	XXX	XXX	XXX	XXX
13.	Disability benefits and benefits under accident and health contracts		.............12,971,506		20		..............1,410,899		..............6,913,915		..........................0		..............	3,586,309	.............. 1,060,363		..........................0		..........................0		..........................0		..........................0		..........................0
14.	Coupons, guaranteed annual pure endowments and similar benefits		.................. 60,543		0		.................. 60,543		..........................0		..........................0		..........................	0	..........................0		..........................0		..........................0		..........................0		..........................0		..........................0
15.	Surrender benefits and withdrawals for life contracts		........... 215,769,878		1,860,405		............ 33,011,178		.............. 5,535,146		..........................0		...........	157,772,012	............ 14,577,994		..........................0		..............3,013,143		..........................0		..........................0		..........................0
16.	Group conversions		..........................0		..........................0		..........................0		..........................0		..........................0		..........................	0	..........................0		0		..........................0		..........................0		..........................0		..........................0
17.	Interest and adjustments on contract or deposit-type contract funds												..............	3,255,045
	.............. 6,484,368		(71,715)		.............. 2,116,664		.................514,760		..........................0			.................653,693		..........................0		.................. 15,921		..........................0		..........................0		..........................0
18.	Payments on supplementary contracts with life contingencies		..........................0		0		..........................0		..........................0		..........................0		..........................	0	..........................0		..........................0		..........................0		..........................0		..........................0		..........................0
19.	...Increase in aggregate reserves for life and accident and health contracts		(299,627,574)		(4,731,541)		(91,539,659)		(4,167,996)		0			(182,985,811)	(17,041,501)		0		838,934		0		0		0
20.	Totals (Lines 10 to 19)		........... 899,645,372		(849,833)		........... 153,820,934		........... 148,536,318		..........................0		...........	494,822,442	.............96,016,211		..........................0		..............7,299,300		..........................0		..........................0		..........................0
21.	Commissions on premiums, annuity considerations and deposit-type
	contract funds (direct business only)		..............3,440,257		38		.................279,137		................. 510,100		..........................0		..............	2,353,456	.................184,813		..........................0		.................112,713		..........................0		..........................0		...........XXX
22.	Commissions and expense allowances on reinsurance assumed		............ (2,830,314)		0		.............. 1,757,856		.............(2,774,886)		..........................0		............	(1,816,613)	....................3,329		..........................0		..........................0		..........................0		..........................0		..........................0
23.	General insurance expenses		...........164,841,631		..............5,853,377		.............40,353,051		............ 23,431,120		..........................0		.............	65,450,979	.............29,333,258		..........................0		.................419,846		..........................0		..........................0		..........................0
24.	Insurance taxes, licenses and fees, excluding federal income taxes		.............12,353,325		................. 306,832		..............1,933,511		..............2,938,309		..........................0		..............	4,312,892	.............. 2,801,354		0		.................. 60,427		..........................0		..........................0		..........................0
25.	Increase in loading on deferred and uncollected premiums												.................	(13,857)
	.............(1,623,120)		157		............ (1,398,061)		............... (211,359)		..........................0			..........................0		..........................0		..........................0		..........................0		..........................0		..........................0
26.	Net transfers to or (from) Separate Accounts net of reinsurance		............ (3,043,162)		0		..........................0		..........................0		..........................0		..........................	0	..........................0		..........................0		............ (3,043,162)		..........................0		..........................0		..........................0
27.	Aggregate write-insfor deductions		316,123,843		5,134,287		85,395,886		11,075,208		0			162,280,565	51,797,944		0		439,953		0		0		0
28.	Totals (Lines 20 to 27)		1,388,907,832		10,444,858		282,142,314		183,504,810		0			727,389,864	180,136,909		0		5,289,077		0		0		0
29.	Net gain from operations before dividends to policyholders, refunds to
	members and federal income taxes (Line 9 minus Line 28)	..........(299,008,166)		739,490		........... (35,009,009)		........... (15,320,851)		..........................0		.........	(209,934,946)	........... (39,584,920)		..........................0		................. 102,070		..........................0		..........................0		..........................0
30.	Dividends to policyholders and refunds to members		8,386,105		0		8,386,105		0		0				0	0		0		0		0		0		0
31.	Net gain from operations after dividends to policyholders, refunds to
	members and before federal income taxes (Line 29 minus Line 30)		......... (307,394,271)		739,490		...........(43,395,114)		........... (15,320,851)		..........................0		.........	(209,934,946)	........... (39,584,920)		..........................0		................. 102,070		..........................0		..........................0		..........................0
32.	Federal income taxes incurred (excluding tax on capital gains)		(64,552,798)		155,293		(9,112,975)		(3,217,379)		0			(44,086,339)	(8,312,833)		0		21,435		0		0		0
33.	Net gain from operations after dividends to policyholders, refunds to
	members and federal income taxes and before realized capital gains or
	(losses) (Line 31 minus Line 32)		(242,841,473)		584,197		(34,282,139)		(12,103,472)		0			(165,848,607)	(31,272,087)		0		80,635		0		0		0
34.	Policies/certificates in force end of year		945,012		165,312		360,585		157,574		0			180,053	79,845		0		1,643		0		0		0
	DETAILS OF WRITE-INS
08.301.	Miscellaneous income		..............7,331,474		..........................0		.............. 2,855,681		..............4,475,793		..........................0		..........................	0	..........................0		0		..........................0		..........................0		..........................0		..........................0
08.302.	Reinsurance experience and other funds		.............(2,897,236)		..........................0		.................199,242		...................88,561		..........................0		............	(3,244,547)	.................. 59,440		0		........................ 68		..........................0		..........................0		..........................0
08.303.	.........................................................................................................		.............................		.............................		.............................		.............................		.............................		.............................		.............................		.............................		.............................		.............................		.............................		.............................
08.398. Summary of remaining write-ins for Line 8.3 from overflow page		..........................0		0		..........................0		..........................0		..........................0		..........................	0	..........................0		..........................0		..........................0		..........................0		..........................0		..........................0
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398) (Line 8.3 above)		4,434,238		0		3,054,923		4,564,354		0			(3,244,547)	59,440		0		68		0		0		0
2701.	Additional contract benefits to founders plan policyholders		.................. 73,406		..........................0		.................. 78,653		.................. (5,247)		..........................0		..........................	0	..........................0		..........................0		..........................0		..........................0		..........................0		..........................0
2702.	Interest on funds withheld treaties		........... 323,861,016		..............5,134,287		............ 85,317,233		............ 18,891,034		..........................0		...........	162,280,565	............ 51,797,944		0		.................439,953		..........................0		..........................0		..........................0
2703.	Reinsurance on in-force business		............ (7,810,579)		..........................0		..........................0		............ (7,810,579)		..........................0		..........................	0	..........................0		0		..........................0		..........................0		..........................0		..........................0
2798.	Summary of remaining write-ins for Line 27 from overflow page												..........................	0
	..........................0		..........................0		..........................0		..........................0		..........................0				..........................0		0		..........................0		..........................0		..........................0		..........................0
2799.	Totals (Lines 2701 thru 2703 plus 2798) (Line 27 above)		316,123,843		5,134,287		85,395,886		11,075,208		0			162,280,565	51,797,944		0		439,953		0		0		0
(a) Include premium amounts for preneed plans included in Line 1	0
(b) Indicate if blocks of business in run-off that comprise less than 5% of premiums and less than 5% of reserve and loans liability are aggregated with material blocks of business and which columns are affected.	......................................................................................................................................................................................
(c) Individual and Group Credit Life are combined and included on					page. (Indicate whether included with Individual or Group.)

6.2

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE JACKSON NATIONAL LIFE INSURANCE COMPANY

ANALYSIS OF OPERATIONS BY LINES OF BUSINESS - GROUP LIFE INSURANCE (c)

		1	2	3	4	5	6	7	8	9
							Variable Universal	Credit Life	Other Group Life	YRT Mortality
		Total	Whole Life	Term Life	Universal Life	Variable Life	Life	(d)	(a)	Risk Only
1.	Premiums for life contracts (b)	...................1,908,210	......................687,857	1,316,936	.................... (192,719)	............................... 0	96,136	............................... 0	............................... 0	............................... 0
2.	Considerations for supplementary contracts with life contingencies	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX
3.	Net investment income	...................1,131,634	......................137,911	....................... 72,477	......................907,931	............................... 0	....................... 13,315	............................... 0	............................... 0	............................... 0
4.	Amortization of Interest Maintenance Reserve (IMR)	....................... 48,091	.........................5,861	.........................3,080	....................... 38,584	............................... 0	............................ 566	............................... 0	............................... 0	............................... 0
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	............................... 0	0	0	0	............................... 0	0	............................... 0	............................... 0	............................... 0
6.	Commissions and expense allowances on reinsurance ceded	....................... 44,351	..............................94	....................... 44,257	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0
7.	Reserve adjustments on reinsurance ceded	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract
	guarantees from Separate Accounts	.................. 2,333,544	............................... 0	............................... 0	...................2,043,541	............................... 0	......................290,003	0	............................... 0	............................... 0
	8.2 Charges and fees for deposit-type contracts	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0
	8.3 Aggregate write-ins for miscellaneous income	56	0	0	56	0	0	0	0	0
9.	Totals (Lines 1 to 8.3)	5,465,886	831,723	1,436,750	2,797,393	0	400,020	0	0	0
10.	Death benefits	...................3,221,140	....................... 30,892	...................1,069,248	...................2,121,000	............................... 0	0	............................... 0	............................... 0	............................... 0
11.	Matured endowments (excluding guaranteed annual pure endowments)	............................... 0	0	0	0	............................... 0	0	............................... 0	............................... 0	............................... 0
12.	Annuity benefits	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX	...............XXX
13.	Disability benefits and benefits under accident and health contracts	....................... 14,820	....................... 21,508	....................... (7,288)	............................ 600	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0
14.	Coupons, guaranteed annual pure endowments and similar benefits	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0
15.	Surrender benefits and withdrawals for life contracts	........................94,997	......................... 1,303	............................... 0	....................... 76,242	............................... 0	....................... 17,452	0	............................... 0	............................... 0
16.	Group conversions	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	0	............................... 0	............................... 0
17.	Interest and adjustments on contract or deposit-type contract funds	............................... 0	0	0	0	............................... 0	0	............................... 0	............................... 0	............................... 0
18.	Payments on supplementary contracts with life contingencies	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0
19.	Increase in aggregate reserves for life and accident and health contracts	.................... (244,774)	......................(80,330)	150,011	.................... (559,720)	............................... 0	245,265	............................... 0	............................... 0	............................... 0
20.	Totals (Lines 10 to 19)	.................. 3,086,183	......................(26,627)	1,211,971	...................1,638,122	............................... 0	262,717	............................... 0	............................... 0	............................... 0

21. Commissions on premiums, annuity considerations and deposit-type contract funds (direct

	business only)	9,324	288	0	3,820	0	5,216	0	0	...............XXX
22.	Commissions and expense allowances on reinsurance assumed	0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0
23.	General insurance expenses	......................517,795	....................... 63,103	....................... 33,163	......................415,437	............................... 0	......................... 6,092	............................... 0	............................... 0	............................... 0
24.	Insurance taxes, licenses and fees, excluding federal income taxes	....................... 39,537	.........................4,818	.........................2,532	....................... 31,722	............................... 0	............................ 465	............................... 0	............................... 0	............................... 0
25.	Increase in loading on deferred and uncollected premiums	....................... (1,282)	............................ (41)	....................... (1,241)	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0
26.	Net transfers to or (from) Separate Accounts net of reinsurance	....................(278,887)	............................... 0	............................... 0	............................... 0	............................... 0	....................(278,887)	............................... 0	............................... 0	............................... 0
27.	Aggregate write-ins for deductions	(211,791)	0	(211,791)	0	0	0	0	0	0
28.	Totals (Lines 20 to 27)	3,160,879	41,541	1,034,634	2,089,101	0	(4,397)	0	0	0
29.	Net gain from operations before dividends to policyholders, refunds to members and federal
	income taxes (Line 9 minus Line 28)	.................. 2,305,007	......................790,182	402,116	......................708,292	............................... 0	404,417	............................... 0	............................... 0	............................... 0
30.	Dividends to policyholders and refunds to members	0	0	0	0	0	0	0	0	0
31.	Net gain from operations after dividends to policyholders, refunds to members and before
	federal income taxes (Line 29 minus Line 30)	.................. 2,305,007	......................790,182	402,116	......................708,292	............................... 0	404,417	............................... 0	............................... 0	............................... 0
32.	Federal income taxes incurred (excluding tax on capital gains)	484,052	165,938	84,444	148,742	0	84,928	0	0	0
33.	Net gain from operations after dividends to policyholders, refunds to members and federal
	income taxes and before realized capital gains or (losses) (Line 31 minus Line 32)	1,820,955	624,244	317,672	559,550	0	319,489	0	0	0
34.	Policies/certificates in force end of year	12,386	501	11,340	469	0	76	0	0	0
	DETAILS OF WRITE-INS
08.301. Reinsurance experience and other refunds
..............................56	............................... 0	............................... 0	..............................56	............................... 0	............................... 0	0	............................... 0	............................... 0
.08.302	..........................................................................................................................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................
.08.303	..........................................................................................................................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................
.........................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page	............................... 0	............................... 0	0	............................... 0	............................... 0	0	............................... 0	............................... 0	............................... 0
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398) (Line 8.3 above)	56	0	0	56	0	0	0	0	0
2701.	Reinsrance on in-forcebusiness	.................... (211,791)	............................... 0	(211,791)	............................... 0	............................... 0	0	............................... 0	............................... 0	............................... 0
2702	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................
2703	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................	...................................
2798.	Summary of remaining write-ins for Line 27 from overflow page	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0	............................... 0
2799.	Totals (Lines 2701 thru 2703 plus 2798) (Line 27 above)	(211,791)	0	(211,791)	0	0	0	0	0	0

(a) Includes the following amounts for FEGLI/SGLI:	Line 1	0 , Line 10	0 , Line 16	0 , Line 23	0 , Line 24	0
(b) Include premium amounts for preneed plans included in Line 1	0
(c) Indicate if blocks of business in run-off that comprise less than 5% of premiums and less than 5% of reserve and loans liability are aggregated with material blocks of business and which columns are affected.	......................................................................................................................................................................................
(d) Individual and Group Credit Life are combined and included on	page. (Indicate whether included with Individual or Group.)

6.3

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE JACKSON NATIONAL LIFE INSURANCE COMPANY

ANALYSIS OF OPERATIONS BY LINES OF BUSINESS - INDIVIDUAL ANNUITIES (a)

		1		Deferred		6	7
			2	3	4	5	Life Contingent
					Variable Annuities	Variable Annuities	Payout (Immediate
		Total	Fixed Annuities	Indexed Annuities	with Guarantees	Without Guarantees	and Annuitizations)	Other Annuities
1.	Premiums for individual annuity contracts	............ 12,490,291,081	................. 191,940,090	.................225,552,357	............ 10,636,733,049	..............1,411,147,568	...................24,918,017	................................. 0
2.	Considerations for supplementary contracts with life contingencies	.................... 1,443,096	...............XXX	...............XXX	...............XXX	...............XXX	.................... 1,443,096	...............XXX
3.	Net investment income	..............1,369,968,164	.................476,952,790	................. 452,191,710	.................190,303,676	...................62,951,426	.................187,568,562	................................. 0
4.	Amortization of Interest Maintenance Reserve (IMR)	............... (545,996,674)	(75,776,579)	(28,949,313)	(359,902,336)	(25,981,533)	.................(55,386,913)	0
5.	Separate Accounts net gain from operations excluding unrealized gains or losses	.................210,501,922	................................. 0	................................. 0	.................210,501,922	................................. 0	................................. 0	................................. 0
6.	Commissions and expense allowances on reinsurance ceded	...................34,189,213	...................16,544,941	...................17,877,179	................................. 0	................................. 0	......................(232,907)	................................. 0
7.	Reserve adjustments on reinsurance ceded	................................. 0	0	0	0	0	................................. 0	0
8.	Miscellaneous Income:
	8.1 Income from fees associated with investment management, administration and contract guarantees from Separate Accounts	..............5,114,944,622	..............................125	....................... 729,460	..............5,108,513,984	.................... 5,701,053	................................. 0	................................. 0
	8.2 Charges and fees for deposit-type contracts	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0
	8.3 Aggregate write-ins for miscellaneous income	509,041,397	357	0	479,180,040	29,861,000	0	0
9.	Totals (Lines 1 to 8.3)	19,184,382,821	609,661,724	667,401,393	16,265,330,335	1,483,679,514	158,309,855	0
10.	Death benefits	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0
							................................. 0
11.	Matured endowments (excluding guaranteed annual pure endowments)	................................. 0	0	0	0	0	0
12.	Annuity benefits	............. 2,708,885,276	.................. 73,831,480	.................. 36,520,373	..............2,217,898,263	.................276,677,465	.................103,957,695	................................. 0
13.	Disability benefits and benefits under accident and health contracts	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0
14.	Coupons, guaranteed annual pure endowments and similar benefits	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0
15.	Surrender benefits and withdrawals for life contracts	............ 16,982,497,163	154,744,488	35,190,142	14,545,689,167	2,243,911,935	.................... 2,961,431	0
16.	Group conversions	................................. 0	0	0	0	0	................................. 0	0
17.	Interest and adjustments on contract or deposit-type contract funds	.................(10,337,730)	.................(18,983,901)	......................(719,207)	...................12,451,207	....................... 808,420	.................. (3,894,249)	................................. 0
18.	Payments on supplementary contracts with life contingencies	...................15,416,294	................................. 0	................................. 0	................................. 0	................................. 0	...................15,416,294	................................. 0
19.	Increase in aggregate reserves for life and accident and health contracts	(1,585,173,051)	32,426,599	187,332,706	(1,676,502,412)	(104,854,062)	(23,575,882)	0
20.	Totals (Lines 10 to 19)	............ 18,111,287,952	.................242,018,666	.................258,324,014	............ 15,099,536,225	..............2,416,543,758	.................. 94,865,289	................................. 0
21.	Commissions on premiums, annuity considerations and deposit-type contract funds (direct business only)	..............1,497,621,779	.................... 9,058,223	...................17,553,142	..............1,293,581,056	.................177,429,358	................................. 0	................................. 0
22.	Commissions and expense allowances on reinsurance assumed	.................120,216,041	.........................95,428	..............................334	................. 100,939,927	...................19,180,352	................................. 0	................................. 0
23.	General insurance expenses	.................427,056,111	47,748,933	26,649,666	321,844,975	42,598,179	.................(11,785,642)	0
24.	Insurance taxes, licenses and fees, excluding federal income taxes	...................19,645,914	2,414,882	1,596,718	19,516,178	2,676,052	...................(6,557,916)	0
25.	Increase in loading on deferred and uncollected premiums	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0
26.	Net transfers to or (from) Separate Accounts net of reinsurance	............(4,536,322,548)	................................. 0	................................. 0	............ (3,571,949,092)	............... (964,373,456)	................................. 0	................................. 0
27.	Aggregate write-ins for deductions	728,272,247	339,872,132	379,624,001	(2,164,025)	0	10,940,139	0
28.	Totals (Lines 20 to 27)	16,367,777,496	641,208,264	683,747,875	13,261,305,244	1,694,054,243	87,461,870	0
29.	Net gain from operations before dividends to policyholders, refunds to members and federal income taxes (Line 9 minus Line 28)	..............2,816,605,325	.................(31,546,540)	.................(16,346,482)	..............3,004,025,091	............... (210,374,729)	.................. 70,847,985	................................. 0
30.	Dividends to policyholders and refunds to members	0	0	0	0	0	0	0
31.	Net gain from operations after dividends to policyholders, refunds to members and before federal income taxes (Line 29 minus Line 30) .	..............2,816,605,325	.................(31,546,540)	.................(16,346,482)	..............3,004,025,091	............... (210,374,729)	.................. 70,847,985	................................. 0
32.	Federal income taxes incurred (excluding tax on capital gains)	973,091,830	(10,898,822)	(5,647,446)	1,037,842,343	(72,681,084)	24,476,839	0
33.	Net gain from operations after dividends to policyholders, refunds to members and federal income taxes and before realized capital
	gains or (losses) (Line 31 minus Line 32)	1,843,513,495	(20,647,718)	(10,699,036)	1,966,182,748	(137,693,645)	46,371,146	0
34.	Policies/certificates in force end of year	1,261,015	159,006	93,644	854,025	118,414	35,926	0
	DETAILS OF WRITE-INS
08.301. General account policy fees	.................. 74,829,957	0	0	74,204,191	625,766	................................. 0	0
08.302. Marketing fees	.................434,208,593	0	0	404,973,359	29,235,234	................................. 0	0
08.303. Miscellaneous income	...........................2,490	................................. 0	................................. 0	...........................2,490	................................. 0	................................. 0	................................. 0
08.398. Summary of remaining write-ins for Line 8.3 from overflow page	..............................357	..............................357	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0
08.399. Totals (Lines 08.301 thru 08.303 plus 08.398) (Line 8.3 above)	509,041,397	357	0	479,180,040	29,861,000	0	0
2701.	Interest on funds withheld treaties	.................831,494,437	.................387,062,708	.................433,491,590	................................. 0	................................. 0	...................10,940,139	................................. 0
2702.	Reinsurance on in-forcebusiness	.................. (2,164,025)	................................. 0	................................. 0	.................. (2,164,025)	................................. 0	................................. 0	................................. 0
2703.	Reinsurance on in-forcebusiness - Athene	............... (101,058,165)	.................(47,190,576)	.................(53,867,589)	................................. 0	................................. 0	................................. 0	................................. 0
2798.	Summary of remaining write-ins for Line 27 from overflow page	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0	................................. 0
2799.	Totals (Lines 2701 thru 2703 plus 2798) (Line 27 above)	728,272,247	339,872,132	379,624,001	(2,164,025)	0	10,940,139	0

(a) Indicate if blocks of business in run-off that comprise less than 5% of premiums and less than 5% of reserve and loans liability are aggregated with material blocks of business and which which columns are affected.

............................................................................................................................................................................