Jackson National Life

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Jackson National Life Insurance Company
Industry Financial Services
Genre Financial
Founded 1961
Headquarters Jackson Headquarters
Lansing, Michigan
, U.S.
Area served Nationwide
Key people Michael A. Wells
President and CEO
Products Retirement
Annuity
Revenue US$5.1 billion(2012)
Net income US$939.5 million(2012)
Total assets US$165.4 billion(2012)
Employees 4,337(2012)
Website www.jackson.com

Jackson National Life Insurance Company (often referred to as simply Jackson) is a U.S. company that offers 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. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

Founded in 1961, Jackson is headquartered in Lansing, Michigan. The company and its affiliates also have offices in Denver, Colorado; Nashville, Tennessee; Santa Monica, California; Chicago, Illinois; Tampa, Florida; Appleton, Wisconsin; Purchase, New York; and Bismarck, North Dakota.

Jackson markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, wirehouses, financial institutions and independent insurance agents. A subsidiary of Jackson, Jackson National Life Insurance Company of New York, markets products similarly within the state of New York.

History[edit]

Jackson was founded in 1961 in Jackson, Michigan, 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.

Since the mid-1990s, Jackson has focused on diversification of products and distribution channels. 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 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. In 2000, NPH acquired INVEST Financial Corporation and Investment Centers of America.

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. 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.

Senior Management[edit]

President and Chief Executive Officer Michael A. Wells
Executive Vice President and Head of Retail Clifford J. Jack
President and Chief Executive Officer, PPMA Leandra Knes
Senior Vice President, General Counsel and Secretary Thomas J. Meyer
Executive Vice President and Chief Financial Officer P. Chad Myers
Chief Operating Officer James R. Sopha

References[edit]


External links[edit]