QVT Financial LP (“QVT”) today issued a report on Jackson Financial, Inc. (NYSE: JXN) detailing QVT’s concerns regarding JXN’s regulated life insurance subsidiary Jackson National Life (“JNL”). QVT’s analysis indicates that JNL has an enormous exposure to JXN’s captive reinsurer, Brooke Life Reinsurance Co. (“Brooke Re”), that Brooke Re faces significant liquidity and solvency challenges, and that Jackson’s capital return pace is likely unsustainable.
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The full report, Jackson National and Brooke Re: Pay Me Back Whenever, can be found here.
About QVT
QVT Financial LP, founded in 2003, is a multi-strategy investment firm based in New York.
Disclaimers
QVT’s funds under management hold short positions in the debt and equity securities of JXN, including through derivatives. Following today’s publication, QVT may, without further notice, increase, decrease, or otherwise change or exit their funds’ positions in the JXN securities at any time, regardless of the views or conclusions expressed in its report. QVT is under no obligation to update the report or to inform readers of any changes in their positions or opinions.
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