Top Annuity Seller Jackson National Set Free By Prudential Plc.

August 12, 2020 by Staff Reports

British insurer Prudential Plc. will spin off its American businesses, which include Jackson National Life Insurance Co., in order to focus on operations in Asia and Africa.

Prudential Plc. will “pursue a full separation of Jackson by way of a minority Initial Public Offering (IPO) followed by full divestment over time,” Jackson said in a news release. The U.S. listing is planned for the first half of 2021, and Jackson does not currently expect to remit any regular dividends to Prudential Plc in 2020 or 2021 prior to an IPO, the release stated.

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Originally Posted at InsuranceNewsNet on August 11, 2020 by Staff Reports.