Jackson National Life Insurance Company (often referred to as simply Jackson) is a U.S. company that provides annuities for retail investors and fixed income products for institutional investors. Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services. Jackson is a subsidiary of the British insurer, Prudential plc, which acquired the company for $608 million in 1986.[2] The company is unrelated to the American insurance conglomerate, Prudential Financial.
Jackson National Life Insurance Company of New York; Jackson National Asset Management, LLC; Jackson National Life Distributors LLC; Brooke Life Insurance; PPM America, Inc.; Curian Capital, LLC; Life of Georgia; Securities of Denver Insurance; PGDS (US One); ,Jackson Charitable Foundation Inc.
Jackson was named after Andrew Jackson, the seventh President of the United States.[4] Jackson was founded in 1961 in Jackson, Michigan, and moved to its headquarters in Lansing, Michigan in 1976.[5] In the early years, the company focused on offering term insurance to individuals as an alternative to whole life products. Jackson was an early adopter of the independent distribution model, eliminating its captive agency sales force in 1970 to sell products through independent agents. By 1984, Jackson had grown to $1 billion in assets. The company's growth attracted the attention of Prudential plc, which acquired Jackson in 1986.[6]
In 1995, the company launched its first variable annuity and began selling guaranteed investment contracts and funding agreements through its Institutional Products Department.[5] In 1996, Jackson introduced its first fixed index annuity (FIA).[5]
In March 2003, Jackson entered the registered investment adviser channel with the launch of Curian Capital LLC. Jackson's acquisitions of Life Insurance Company of Georgia in 2005 and SRLC America Holding Corp. (SRLC) in 2012 each added 1.5 million in-force life insurance and annuity policies to Jackson's books.[7]
Prudential announced on 28 January 2021 its intention to demerge Jackson, resulting in two separately listed companies. Prudential shareholder as of 2 September 2021, were entitled to receive one share of Jackson’s Class A common stock for every 40 Prudential ordinary shares you hold on that date. The Jackson shares are expected to trade on the New York Stock Exchange under the ticker “JXN”.[8]
References
^Martinez, Christian. "Jackson receives new CEO and CFO ahead of demerger". Lansing State Journal.
^"Prudential plans sale of stake in US arm". CityAM. 2020-03-08. Retrieved 2020-03-08.
^Lehr, Sarah. "Who pays the most property taxes in Greater Lansing? Disclosures offer snapshot". Lansing State Journal. Retrieved 2020-03-08.
^. Jackson National Life. Archived from the original on 2015-09-23. Retrieved 2015-09-23.
^ abc"History of Jackson National Life Insurance Company – FundingUniverse". www.fundinguniverse.com. Retrieved 2021-01-06.
^"COMPANY NEWS; Prudential P.L.C. To Buy Jackson". The New York Times. 1986-09-19. ISSN 0362-4331. Retrieved 2019-09-05.
^"Jackson National to Acquire Life of Georgia from ING". www.businesswire.com. 2004-11-18. Retrieved 2021-01-06.
jackson, national, life, insurance, company, often, referred, simply, jackson, company, that, provides, annuities, retail, investors, fixed, income, products, institutional, investors, jackson, subsidiaries, affiliates, provide, specialized, asset, management,. Jackson National Life Insurance Company often referred to as simply Jackson is a U S company that provides annuities for retail investors and fixed income products for institutional investors Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services Jackson is a subsidiary of the British insurer Prudential plc which acquired the company for 608 million in 1986 2 The company is unrelated to the American insurance conglomerate Prudential Financial Jackson National Life Insurance CompanyTrade nameJacksonTypePublicTraded asNasdaq JXNIndustryFinancial servicesGenreFinancialFounded1961FounderA J Tony PasantHeadquartersLansing Michigan Jackson HeadquartersLansing Michigan U S Number of locationsLansing Michigan East Lansing Michigan Nashville Tennessee Chicago IL Purchase New YorkArea servedNationwideKey peopleLaura Prieskorn 1 CEOProductsRetirementAnnuityServicesAnnuitiesTotal assetsUS 297 6 billion 2020 OwnerPrudential plcNumber of employees4 800 2015 ParentPrudential plcSubsidiariesJackson National Life Insurance Company of New York Jackson National Asset Management LLC Jackson National Life Distributors LLC Brooke Life Insurance PPM America Inc Curian Capital LLC Life of Georgia Securities of Denver Insurance PGDS US One Jackson Charitable Foundation Inc Websitejackson wbr comFounded in 1961 Jackson is headquartered in Alaiedon Township Lansing Michigan 3 History EditJackson was named after Andrew Jackson the seventh President of the United States 4 Jackson was founded in 1961 in Jackson Michigan and moved to its headquarters in Lansing Michigan in 1976 5 In the early years the company focused on offering term insurance to individuals as an alternative to whole life products Jackson was an early adopter of the independent distribution model eliminating its captive agency sales force in 1970 to sell products through independent agents By 1984 Jackson had grown to 1 billion in assets The company s growth attracted the attention of Prudential plc which acquired Jackson in 1986 6 In 1995 the company launched its first variable annuity and began selling guaranteed investment contracts and funding agreements through its Institutional Products Department 5 In 1996 Jackson introduced its first fixed index annuity FIA 5 In March 2003 Jackson entered the registered investment adviser channel with the launch of Curian Capital LLC Jackson s acquisitions of Life Insurance Company of Georgia in 2005 and SRLC America Holding Corp SRLC in 2012 each added 1 5 million in force life insurance and annuity policies to Jackson s books 7 Prudential announced on 28 January 2021 its intention to demerge Jackson resulting in two separately listed companies Prudential shareholder as of 2 September 2021 were entitled to receive one share of Jackson s Class A common stock for every 40 Prudential ordinary shares you hold on that date The Jackson shares are expected to trade on the New York Stock Exchange under the ticker JXN 8 References Edit Martinez Christian Jackson receives new CEO and CFO ahead of demerger Lansing State Journal Prudential plans sale of stake in US arm CityAM 2020 03 08 Retrieved 2020 03 08 Lehr Sarah Who pays the most property taxes in Greater Lansing Disclosures offer snapshot Lansing State Journal Retrieved 2020 03 08 Our History Jackson National Life Archived from the original on 2015 09 23 Retrieved 2015 09 23 a b c History of Jackson National Life Insurance Company FundingUniverse www fundinguniverse com Retrieved 2021 01 06 COMPANY NEWS Prudential P L C To Buy Jackson The New York Times 1986 09 19 ISSN 0362 4331 Retrieved 2019 09 05 Jackson National to Acquire Life of Georgia from ING www businesswire com 2004 11 18 Retrieved 2021 01 06 Demerger Prudential External links EditOfficial Website Retrieved from https en wikipedia org w index php title Jackson National Life amp oldid 1170821089, wikipedia, wiki, book, books, library,
