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| we, us, our and the Company | Jackson Financial Inc. and its consolidated subsidiaries, unless the context refers only to Jackson Financial Inc. as a corporate entity (which we refer to as "JFI") |
| Jackson | Jackson National Life Insurance Company, a Company subsidiary. |
| Brooke Life | Brooke Life Insurance Company, a Company subsidiary and the direct parent company of Jackson National Life Insurance Company. |
| Jackson Finance | Jackson Finance, LLC, a Company subsidiary. |
| PPMH | PPM Holdings, Inc., a Company subsidiary |
| PPM | PPM America Inc., a subsidiary of PPMH |
| ACL | Allowance for credit loss |
| Account value or account balance | The amount of money in a customer’s account. For example, the value increases with additional premiums and investment gains, and it decreases with withdrawals, investment losses and fees. |
| Athene | Athene Life Re Ltd. and its affiliates and permitted transferees, including Athene Co-Invest Reinsurance Affiliate 1A Ltd. |
| Athene Equity Investment | The July 2020 investment of $500 million by Athene in JFI for Class A common stock and Class B common stock, representing approximately 9.9% of the total combined voting power and approximately 11.1% of the total common stock of the Company |
| Athene Reinsurance Transaction | The funds withheld coinsurance agreement entered into with Athene on June 18, 2020, effective June 1, 2020, to reinsure a 100% quota share of a block of our in-force fixed and fixed index annuity liabilities in exchange for approximately $1.2 billion in ceding commissions |
| Athene Transactions | The Athene Reinsurance Transaction and the Athene Equity Investment, together |
| AUM (Assets under management) | Investment assets that are managed by one of our subsidiaries and includes: (i) the assets in our investment portfolio managed by PPM, which excludes assets held in funds withheld accounts for reinsurance transactions, (ii) third party assets managed by PPM, including those for Prudential and its affiliates or third parties, and (iii) the separate account assets of our Retail Annuities segment that JNAM manages and administers. |
| Benefit base | A notional amount (not actual cash value) used to calculate the owner’s guaranteed benefits within an annuity contract. The death benefit and living benefit within the same contract may have different benefit bases. |
| CMBS | Commercial mortgage-backed securities |
| DAC (Deferred acquisition costs) | Represent the incremental costs related directly to the successful acquisition of new and certain renewal insurance policies and annuity contracts and which have been deferred on the balance sheet as an asset. |
| DDTL Facility | Delayed Draw Term Loan Facility |
| Deferred tax asset or Deferred tax liability | Assets or liabilities that are recorded for the difference between book basis and tax basis of an asset or a liability. |
| DSI (Deferred sales inducements) | Represent amounts that are credited to a policyholder’s account balance that are higher than the expected crediting rates on similar contracts without such an inducement and that are an incentive to purchase a contract and also meet the accounting criteria to be deferred as an asset that is amortized over the life of the contract. |
| Fixed Annuity | An annuity that guarantees a set annual rate of return with interest at rates we determine, subject to specified minimums. Credited interest rates are guaranteed not to change for certain limited periods of time. |
| Fixed Index Annuity | An annuity with an ability to share in the upside from certain financial markets, such as equity indices, and provides downside protection. |