| Type | Wholly Owned Subsidiary of Prudential plc |
|---|---|
| Industry | Finance and Insurance |
| Founded | 1961 |
| Headquarters | Lansing, MI, US |
| Key people | Michael Wells, CEO James Sopha, COO Chad Myers, CFO Mark Clark, CIO |
| Products | Financial Services |
| Revenue | US$2.316 billion (2009)[1] |
| Net income | US$428 million (2009)[1] |
| AUM | US$3.6 billion (in Curian Capital subsidiary)[2] |
| Total assets | US$87 billion (2009)[1] |
| Employees | 2,947 (2008)[3] |
| Website | www.jackson.com |
Jackson National Life Insurance (often referred to as simply Jackson) is a U.S. company that offers life insurance and annuities. It is a subsidiary of the British insurer, Prudential Plc, who bought the company for $608 million in 1986. Founded in 1961, Jackson is headquartered in Lansing, Michigan. The company also has offices in Denver, Colorado; Santa Monica, California, Chicago, Illinois, Tampa, Florida, and Appleton, Wisconsin.[4] Plans for a new office in Cool Springs, Tennessee were announced on May 26, 2010.[5]
Jackson markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, 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.
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During 2009, in the midst of an economic recession, Jackson enjoyed growth in many key areas. Sales of variable annuities increased from US$6.5 billion in 2008 to US$10.0 billion in 2009. Fixed index annuity sales increased from US$928 million in 2008 to US$2.2 billion in 2009. Annuity net flows (total premium minus surrenders, exchanges, and annuitizations) totaled US$7.9 billion in 2009, an 82% increase over 2008.
Sales of life insurance products went down, totaling US$53 million in 2009, down slightly from US$58 million in 2008. Sales of traditional individual deferred fixed annuities also went down in 2009, to US$1.6 billion from a 2008 total of nearly US$3.2 billion.
In 2009, Jackson ranked fourth overall in total annuity, variable annuity, and fixed annuity sales. Jackson's market share for total annuity sales increased from 4.0% in 2008 to 5.9% in 2009. Market share for variable annuity sales increased from 4.3% in 2008 to 8.1% in 2009. Fixed index annuity market share also increased, from 3.5% in 2008 to 7.5% in 2009.
Curian Capital, Jackson's separately managed accounts subsidiary, saw growth during 2009. Deposits increased slightly to US$1.2 billion in 2009, up from US$1.1 billion in 2008; and total assets under management increased to US$3.6 billion in 2009 from US$2.6 billion in 2008.
Jackson's financial strength ratings among the major rating agencies have remained unchanged for more than seven years, even through the troubled markets of 2009. As of February 2010, Jackson's ratings were as follows[2]:
| A.M. Best | A+ (superior) |
| Standard & Poor's | AA (very strong) |
| Fitch Ratings | AA (very strong) |
| Moody's Investors Service | A1 (good) |
Jackson received several Service Quality Measurement Group (SQM) Call Center Awards for customer service every year between 2006 and 2009.[6][7][8][9]
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