Jackson National Life: Difference between revisions

Jackson National Life Insurance Company
	File:JacksonNationalLifeLogo.gif
Company type	Subsidiary
Industry	Financial Services
Genre	Financial
Founded	1961
Headquarters	Jackson Headquarters; Lansing, Michigan, U.S.
Area served	Nationwide
Key people	Barry L. Stowe; CEO; James R. Sopha; President
Products	Retirement; Annuity
Revenue	US$5.1 billion(2012)
Net income	US$939.5 million(2012)
Total assets	US$165.4 billion(2012)
Number of employees	4,337(2012)
Parent	Prudential plc
Website	www.jackson.com

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Revision as of 20:37, 30 October 2015

Jackson National Life Insurance Company is a leading provider of retirement solutions for financial professionals and their clients and is one of the largest insurance companies in the U.S. The company offers a range of products including variable, fixed and fixed index annuities designed for tax-efficient accumulation and distribution of retirement income for retail customers, and fixed income products for institutional investors. Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services.

Jackson is an indirect subsidiary of Prudential plc, a company incorporated in England and Wales. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the U.S. Jackson is the marketing name for Jackson National Life Insurance Company (based in Lansing, Michigan) and Jackson National Life Insurance Company of New York (based in Purchase, New York).

Founded in 1961, Jackson is headquartered in Lansing, Michigan. The company and its subsidiaries and 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 consists of three separate statutory entities: Jackson National Life Insurance Company, Jackson National Life Insurance Company of New York^® (Jackson of NY®) and Brooke Life Insurance Company^®. Jackson offers variable, fixed and fixed index annuities and institutional products for customers in all states except New York. In New York, variable and fixed annuities are available for purchase through Jackson of NY. Brooke Life offers fixed annuities for sale through certain financial institutions in the state of Michigan. Jackson has two primary distribution outlets: Jackson National Life Distributors LLC (JNLD) and the Institutional Products department. JNLD markets and wholesales Jackson's retail products (annuities) to independent and regional broker-dealers, wirehouses, independent agents and financial institutions. Jackson's Institutional Products department distributes funding agreements and guaranteed investment contracts to institutional investors and pension plans. The department also distributes medium-term notes, issued by Jackson National Life Global Funding, through investment banks.

History

Jackson opened for business in 1961 as a small, family-owned company. The company moved its headquarters to Lansing, Michigan in 1976. Jackson introduced its flexible premium annuity in 1975 and by 1982, the company’s annuity sales tripled from $50 million to over $160 million. By 1987, Jackson had surpassed $1 billion in sales.

In 1995, Jackson introduced its first variable annuity and entered the group pensions market through its Institutional Products Department. In 1996, the company began marketing fixed index annuity (FIA) products and variable annuities. In 1998, National Planning Holdings^®, Inc. (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, a separately managed accounts provider. Jackson's acquisitions of Life Insurance Company of Georgia in 2005 doubled the company’s policy count to 3 million; its acquisition of Reassure America Life Insurance Company in 2012 increased its policy count to more than 4 million.

The company surpassed $100 billion in IFRS assets in 2010. As of June 30, 2015, the company has $218.9 billion in IFRS assets. ^[1]

Jackson has earned the following financial strength ratings from independent rating agencies (as of September 30, 2015):

A+ (Superior) – A.M. Best (second highest of 16 rating categories)
AA (Very Strong) – Fitch Ratings (third highest of 19 rating categories)
AA (Very Strong) – Standard & Poor’s (third highest of 21 rating categories)
A1 (Good) – Moody’s (fifth highest of 21 rating categories)

Financial strength ratings do not apply to the principal amount or investment performance of the separate account or underlying investments of variable products.

Jackson has $218.9 billion in total IFRS assets and $205.5 billion in IFRS policy liabilities set aside to pay primarily future policyowner benefits (as of 6/30/15). International Financial Reporting Standards (IFRS) is a principles-based set of international accounting standards for reporting financial information. IFRS is issued by the International Accounting Standards Board in an effort to increase global comparability of financial statements and results. IFRS is used by Jackson's parent company.Small text

Senior Management

Chairman and Chief Executive Officer	Barry L. Stowe
President	James R. Sopha
Executive Vice President and Chief Financial Officer	P. Chad Myers
Head of U.S. Wealth Management and Distribution	Greg P. Cicotte

References

^ https://www.jackson.com/about/OurHistory.jsp?&framework-guid=2b0089403e27fa2d4fd301b0000f001b

External links

[1] ttps://www.jackson.com/about/OurHistory.jsp?&framework-guid=2b0089403e27fa2d4fd301b0000f001b

[1]

@@ Line 39: / Line 39: @@
 Founded in 1961, Jackson is headquartered in [[Lansing, Michigan]]. The company and its subsidiaries and 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 consists of three separate statutory entities: Jackson National Life Insurance Company, Jackson National Life Insurance Company of New York® (Jackson of NY®) and Brooke Life Insurance Company®. Jackson offers variable, fixed and fixed index annuities and institutional products for customers in all states except New York. In New York, variable and fixed annuities are available for purchase through Jackson of NY. Brooke Life offers fixed annuities for sale through certain financial institutions in the state of Michigan.
+Jackson consists of three separate statutory entities: Jackson National Life Insurance Company, Jackson National Life Insurance Company of New York<sup>®</sup> (Jackson of NY®) and Brooke Life Insurance Company<sup>®</sup>. Jackson offers variable, fixed and fixed index annuities and institutional products for customers in all states except New York. In New York, variable and fixed annuities are available for purchase through Jackson of NY. Brooke Life offers fixed annuities for sale through certain financial institutions in the state of Michigan.
 Jackson has two primary distribution outlets: Jackson National Life Distributors LLC (JNLD) and the Institutional Products department. JNLD markets and wholesales Jackson's retail products (annuities) to independent and regional broker-dealers, wirehouses, independent agents and financial institutions. Jackson's Institutional Products department distributes funding agreements and guaranteed investment contracts to institutional investors and pension plans. The department also distributes medium-term notes, issued by Jackson National Life Global Funding, through investment banks.