Question 1

What is Jackson Financial's deferral of acquisition costs and sales inducement assets?

Accepted Answer

Jackson Financial (JXN) reported deferral of acquisition costs and sales inducement assets of $255M in Q1 2026.

Question 2

How has Jackson Financial's deferral of acquisition costs and sales inducement assets changed year-over-year?

Accepted Answer

Jackson Financial's deferral of acquisition costs and sales inducement assets increased by 60.4% year-over-year, from $159M to $255M.

Question 3

What is the long-term trend for Jackson Financial's deferral of acquisition costs and sales inducement assets?

Accepted Answer

Over 4 years (2021 to 2025), Jackson Financial's deferral of acquisition costs and sales inducement assets has grown at a 2.4% compound annual growth rate (CAGR), from -$798M to $876M.

Question 4

What does deferral of acquisition costs and sales inducement assets mean?

Accepted Answer

Reflects the capitalization of incremental costs directly associated with acquiring new insurance or annuity contracts, such as commissions and sales inducements. This metric tracks the portion of acquisition expenses deferred to be amortized over the expected life of the policies, impacting long-term profitability.

Line item	Three Months Ended March 31, 2026	Three Months Ended March 31, 2025
Asset-based commission expenses	$295	$284
Other commission expenses	322	215
Sub-advisor expenses	74	78
General and administrative expenses (1)	299	259
Deferral of acquisition costs	(255)	(159)
Total operating costs and other expenses	$735	$677

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Jackson Financial JXN Deferral Of Acquisition Costs And Sales Inducement Assets