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LANSING - Jackson Financial Inc. (NYSE: JXN), a leading provider of retirement planning products with a market capitalization of $5.6 billion and a strong dividend growth of 29% over the last year, has announced significant leadership changes at its main subsidiary, Jackson National Life Insurance Company®, effective April 14, 2025. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. Chris Raub will assume the role of President, focusing on market-facing activities and growth, while Steve Binioris steps in as Executive Vice President and Chief Risk Officer, managing enterprise risks. Additionally, Pam Bottles has been appointed interim Chief Actuary as the company searches for a permanent replacement.
Raub, a veteran with over 25 years at Jackson, transitions from his previous role as Executive Vice President and Chief Risk Officer. He has a track record of leadership within the company, including a stint as senior managing director at PPM America, Inc., a subsidiary of Jackson. Raub's academic credentials include a bachelor's degree in accounting and an MBA.
Laura Prieskorn, CEO of Jackson Financial Inc., expressed confidence in the new appointments, emphasizing the importance of succession planning and the company's commitment to delivering value to stakeholders.
Binioris, the incoming Chief Risk Officer, has nearly a quarter-century tenure at Jackson and has served as Senior Vice President and Chief Actuary. His background includes positions at Sun Life Financial and London Life, and he holds designations as a Fellow in the Society of Actuaries, a member of the American Academy of Actuaries, and a Chartered Financial Analyst.
The leadership changes come as Jackson continues to emphasize clarity in retirement planning and the delivery of competitive annuity products. The company has a history of award-winning service and takes a balanced approach to serving stakeholders, including customers, shareholders, and community partners. InvestingPro data reveals the company's strong financial position with a P/E ratio of 7.19 and earnings per share of $11.74, demonstrating its operational efficiency. Get access to 10+ additional exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
Investors and stakeholders can expect the new leadership to uphold Jackson's customer-first approach and maintain its industry-leading position, leveraging the company's history of innovation and service excellence. With a healthy current ratio of 1.48 and consistent dividend increases, the company demonstrates strong financial management. Discover detailed insights and access the comprehensive Pro Research Report, available exclusively on InvestingPro, covering this and 1,400+ other top US stocks.
This leadership transition is based on a press release statement from Jackson Financial Inc. and reflects the company's strategic focus on growth and risk management as it continues to navigate the retirement planning industry.
In other recent news, Jackson Financial has been the focus of Evercore ISI, which maintained its Underperform rating on the company with a price target of $98.00. This decision follows an analysis of Jackson Financial's recent discussions about its financial projections and the status of its subsidiary, Brooke Re. Despite positive free cash flow guidance for 2025, Evercore ISI expressed concerns regarding Brooke Re's complex risk profile and capital clarity. A notable development was a $419 million actuarial charge at Brooke Re due to refined assumptions about customer behavior, particularly concerning guaranteed minimum withdrawal benefit utilization rates. This charge was unexpected, given the high lapse rates, which have reached 13% this quarter, surpassing the long-term expectations of 8-9%. Evercore ISI also pointed out potential implications of changes in variable annuity statutory accounting by the National Association of Insurance Commissioners in 2026. While Brooke Re benefits from certain permitted practices, it still needs to adhere to statutory and risk-based capital standards. The firm suggested that increased transparency in Brooke Re's risk management could bolster investor confidence and enhance the valuation of Jackson Financial's free cash flow.
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