Type Subsidiary Genre Financial Products Retirement
Annuity Number of employees 4,800 Founded 1961 | Industry Financial Services Area served Nationwide Customer service 00 1 517-381-5500 Total assets 218.9 billion USD (2015) | |
Key people Barry L. Stowe
CEO
James R. Sopha
President Headquarters Denver, Colorado, United States CEO Michael A. Wells (1 Jan 2011–) Parent organizations Prudential, Brooke Life Insurance Company Profiles | ||
2015 celebration of regional growth awards jackson national life insurance co
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. That company is unrelated to the American insurance conglomerate, Prudential Financial.
Contents
- 2015 celebration of regional growth awards jackson national life insurance co
- Day in the life of an intern at jackson national life insurance
- History
- Senior Management
- References
Founded in 1961, Jackson is headquartered in Lansing, Michigan. The company and its affiliates also have offices in Denver, Colorado; Nashville, Tennessee; El Segundo, 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.
Day in the life of an intern at jackson national life insurance
History
Jackson was named after Andrew Jackson, the 7th President of the United States. 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
Clark P. Manning, Jr. was President and CEO during 2002-2010.