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. Prior to being spun off in 2021, Jackson was a subsidiary of the British insurer,

Prudential plc Prudential plc is a British-domiciled Multinational corporation, multinational insurance and asset management company headquartered in London and Hong Kong. It was founded in London in May 1848 to provide loans to professional and working peop ...

, which acquired the company for $608 million in 1986. The company is unrelated to the American insurance conglomerate, Prudential Financial. Founded in 1961, Jackson is headquartered in Alaiedon Township,

Lansing, Michigan Lansing () is the List of capitals in the United States, capital city of the U.S. state of Michigan. The most populous city in Ingham County, Michigan, Ingham County, parts of the city extend into Eaton County, Michigan, Eaton County and nort ...

History

Jackson was named after

Andrew Jackson Andrew Jackson (March 15, 1767 – June 8, 1845) was the seventh president of the United States from 1829 to 1837. Before Presidency of Andrew Jackson, his presidency, he rose to fame as a general in the U.S. Army and served in both houses ...

, the seventh President of the United States. Jackson was founded in 1961 in

Jackson, Michigan Jackson is a city in Jackson County, Michigan, United States, and its county seat. The population was 31,309 at the 2020 United States census, 2020 census. Located along Interstate 94 in Michigan, Interstate 94 and U.S. Route 127 in Michigan, U.S ...

, and moved to its headquarters in Lansing, Michigan in 1976. 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. In 1995, the company launched its first variable annuity and began selling guaranteed investment contracts and funding agreements through its Institutional Products Department. In 1996, Jackson introduced its first fixed index annuity (FIA). 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. Prudential announced on 28 January 2021 its intention to demerge Jackson, resulting in two separately listed companies. Prudential shareholders as of 2 September 2021, were entitled to receive one share of Jackson’s Class A common stock for every 40 Prudential ordinary shares held on that date. Since the spinoff the Jackson shares trade on the New York Stock Exchange under the ticker “JXN”.

References

External links

* {{authority control Prudential plc Companies based in Lansing, Michigan Life insurance companies of the United States 1961 establishments in Michigan Financial services companies established in 1961