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August 30, 2015 4:33 AM ET

Insurance

Company Overview of Jackson National Life Insurance Company

Company Overview

Jackson National Life Insurance Company provides life insurance and institutional products in the United States. It offers a range of retirement solutions, including variable, fixed, and fixed index annuities; and institutional products, such as medium-term notes, funding agreements, and guaranteed investment contracts. The company also provides asset management and retail brokerage services. Jackson National Life Insurance Company markets its retail annuity products to independent and regional broker-dealers, wirehouses, financial institutions, and independent insurance agents, as well as institutional products to investment banks, institutional investors, and pension plan providers. The co...

1 Corporate Way

Lansing, MI 48951

United States

Founded in 1961

Key Executives for Jackson National Life Insurance Company

Chairman and Chief Executive Officer
Age: 57
President and Chief Operating Officer
Chief Financial Officer and Executive Vice President
Chief Information Officer and Senior Vice President
Chief Administrative Officer and Senior Vice President
Compensation as of Fiscal Year 2015.

Jackson National Life Insurance Company Key Developments

Jackson National Life Insurance Company Announces the Launch of LifePay

Jackson National Life Insurance Company announced the launch of LifePay, the company’s first lifetime income benefit option within the Jackson AscenderPlus Select fixed index annuity (FIA). The new feature, available for an additional charge, offers contract-holders the flexibility to start or stop income payments as needed, as well as the opportunity to manage longevity risk and increase growth potential. Jackson AscenderPlus Select with LifePay will replace the current Jackson AscenderPlus Select contract. The LifePay features include: Guaranteed Annual Income Payments Lifetime income payments can begin at age 45 and range between 3 and 7.5% annually, based on the contract owner’s age at first withdrawal. Flexibility Clients have the flexibility to add or cancel LifePay as needed; Annual Roll Up An annual 5% roll up (in years with no withdrawals during the roll up period) can help grow the lifetime income benefit base (LIBB), the balance from which future income is taken; Annual Step-Ups Clients can capture investment gains with annual step-ups for the life of the contract; and single or Joint Option Clients can provide guaranteed lifetime income for themselves with the single option, or for themselves and their spouse with the joint option, for an additional charge.

Jackson National Life Insurance Company Announces Earnings Results for the First Half of 2015

Jackson National Life Insurance Company announced earnings results for the first half of 2015. The company generated a record $1.3 billion in IFRS pretax operating income during the first half of 2015, an increase of 14% over the first half of 2014. This overall increase was primarily driven by increased fee income on higher separate account assets under management. The separate account growth resulted from both strong net flows and positive market appreciation. The company also recorded record IFRS net income of $1.2 billion for the first half of 2015.

Jackson National Life Insurance Announces Executive Changes

For the past several years, Barry Stowe has led the Asian operations for Prudential PLC. The seventh-generation Nashvillian is returning home from Hong Kong. He took over as chairman and CEO of Jackson National Life Insurance earlier this month, replacing Michael Wells, who lived in Franklin and was elevated in May to the chief executive role at Prudential. And much like Wells before him, Stowe will be based in Franklin, where Jackson has built a significant presence since planting a stake five years ago. Jim Sopha, who will assume the role of president at Jackson, also is based in Franklin.

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