Hey Marco,
I wasn't that familiar with JXN but took a look at it. Worth noting, as a recently spun off company, it will be subject to much greater volatility - as we've seen since it has IPO'ed, it has been all over the map with no consistency.
It has an attractive dividend and does appear to be buying back shares at a rapid pace. Given it has no real history of execution, its tough to judge if its sustainable or not, but they certainly seem committed to returning cash to shareholders. I am a little weary about the fact that operating income has dropped in every quarter since it began trading independently - largely a result of lower annuity account value due to lower equity markets and spread income. Variable annuity sales were down 46% this past quarter which is a sign of changing customer behaviours in a high rate environment.
It certainly looks attractively valued here and does seem like it is on good financial footing but I'm not sure there is anything that would appeal to me that would fully justify the risk here. That is my own personal opinion on the matter, mainly because it doesn't have a long-enough operating life for me to really judge management's competency in handling the current interest rate headwinds. It cratered last quarter cause it missed materially on earnings but if it posts a strong Q2 it could rebound. That is an IF though, and I just don't have much to go on here.
Mat