Jackson National Life

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
Jackson
TypeSubsidiary
IndustryFinancial services
GenreFinancial
Founded1961
FounderA.J (Tony) Pasant
Headquarters
Jackson Headquarters
Lansing, Michigan
,
U.S.
Number of locations
Lansing, Michigan; East Lansing, Michigan; Nashville, Tennessee; Chicago, IL; Purchase, New York
Area served
Nationwide
Key people
Michael A. Falcon[1]
CEO
ProductsRetirement
Annuity
ServicesAnnuities
Total assetsUS$ 297.6 billion (2020)
OwnerPrudential plc
Number of employees
4,800 (2015)
ParentPrudential plc
SubsidiariesJackson 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); National Planning Holdings, Inc.; Jackson Charitable Foundation Inc.
Websitejackson.com

Founded in 1961, Jackson is headquartered in Alaiedon Township, Lansing, Michigan.[3]

History

Jackson was named after Andrew Jackson, the 7th 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.[7] In 1996, Jackson introduced its first fixed index annuity (FIA).[8] In 1998, National Planning Holdings (NPH), Jackson's affiliated independent broker-dealer network, was formed with the launch of National Planning Corporation and the acquisition of SII Investments, Inc.[9] In 2000, NPH acquired INVEST Financial Corporation and Investment Centers of America.[10]

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.[11] SRLC is the Swiss holding company of Reassure America Life Insurance Company, which was the US primary operating company of Swiss Re's Admin Re business unit.

In 2005 ING Group and Prudential PLC announced they reached an agreement to sell ING's subsidiary Life Insurance Company of Georgia to Jackson National Life Insurance Company. Jackson National Life acquired all of the stock of Life of Georgia.

On September 1, 2020 Cooley Law School Stadium announced an official name change to Jackson Field after a 7-year naming rights agreement with Jackson National Life Insurance Company.

References
  1. https://www.jackson.com/our-company/the-jackson-story/our-leaders.xhtml
  2. "Prudential plans sale of stake in US arm". CityAM. 2020-03-08. Retrieved 2020-03-08.
  3. Lehr, Sarah. "Who pays the most property taxes in Greater Lansing? Disclosures offer snapshot". Lansing State Journal. Retrieved 2020-03-08.
  4. "https://www.jackson.com/about/OurHistory.jsp?&framework-guid=2b0089403e27fa2d4fd301b0000f001b". Archived from the original on 2015-09-23. Retrieved 2015-09-23. External link in |title= (help)
  5. "History of Jackson National Life Insurance Company – FundingUniverse". www.fundinguniverse.com. Retrieved 2021-01-06.
  6. "COMPANY NEWS; Prudential P.L.C. To Buy Jackson". The New York Times. 1986-09-19. ISSN 0362-4331. Retrieved 2019-09-05.
  7. "History of Jackson National Life Insurance Company – FundingUniverse". www.fundinguniverse.com. Retrieved 2021-01-06.
  8. "History of Jackson National Life Insurance Company – FundingUniverse". www.fundinguniverse.com. Retrieved 2021-01-06.
  9. "National Planning Holdings - Crunchbase Company Profile & Funding". Crunchbase. Retrieved 2021-01-06.
  10. "National Planning Holdings - Crunchbase Company Profile & Funding". Crunchbase. Retrieved 2021-01-06.
  11. "Jackson National to Acquire Life of Georgia from ING". www.businesswire.com. 2004-11-18. Retrieved 2021-01-06.
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