Jackson National Life Insurance Company, the US insurance division UK insurer Prudential plc, offers financial services (fixed, indexed, and variable annuities) and life insurance products through banks, financial planners, regional broker-dealers, and independent agents. The company also provides asset management, mutual fund, and brokerage services. Its subsidiaries include Jackson National Life Distributors (the company's wholesale distribution arm) and National Planning Holdings (broker relationship management), as well as investment consulting and account management units Curian Capital, Jackson National Asset Management, and PPM America.
Underwriting of insurance policies is conducted by the parent entity, as well as by its Jackson National Life Insurance Company of New York and Brooke Life Insurance Company subsidiaries in New York State and Michigan, respectively.
National Planning Holdings is an affiliated network of four independent broker-dealers: INVEST Financial Corporation, Investment Centers of America, National Planning Corporation, and SII Investments.
Curian Capital manufactures and distributes investment strategies and asset management services to institutional investors, advisors, and individuals. Meanwhile, Jackson National Asset Management provides advisory, transfer agency, fund accounting, and administration services to funds and other customers.
Jackson National Life Insurance Company operates throughout the US.
Sales and Marketing
The company has two primary distribution channels. Jackson National Life Distributors markets and wholesales annuities to independent broker-dealers, wirehouses, agents, and financial institutions. Jackson's Institutional Products department markets its products to investment banks, institutional investors, and pension plan providers.
Revenue, which has been fluctuating in recent years, decreased $924 million to $4.5 billion in 2014. Although fee income increased that year, it was more than offset by a decline in premium and investment earnings.
Net income has declined since 2012; it decreased 53% to $350.7 million in 2014, primarily due to the year's lower revenue. Cash flow from operations rose 6% to $3.1 billion due to changes in assets and liabilities.
With a steady focus on the retirement market, Jackson National Life Insurance has become one of the top providers of annuity products in the US. It is targeting growth in the variable annuity, managed account, and investment advisory (fee-based) markets, as well as through retirement products aimed at veterans. Its expertise in annuities and asset management, as well as its unique distribution capabilities have helped the company remain stable during challenging economic times.
The company's success in the variable and fixed annuity markets comes from its strategy of focusing on building relationships with independent advisors as opposed to advertising or brand building. Special programs include training seminars for its advisors. It has also been adding new capabilities such as the mobile Jackson app and the Retirement Hub app for advisors and investors (both launched in 2014).