Insurance Technology Industry News
[May 31, 2010]
Jackson National Life Insurance to Establish Regional HQ in Franklin, Tennessee
May 31, 2010 (Close-Up Media via COMTEX) -- Jackson National Life Insurance Company (Jackson) has announced that it will establish a regional headquarters employing 400 people in Franklin, Tennessee, a suburb of Nashville.
In a release, the Company noted that in Lansing, Michigan, where it is headquartered, the company plans to hire an additional 50-100 people and expand its office capacity to accommodate a total of 2,100 employees.
"Jackson's business model is founded upon efficiency and low expenses, so any decision we make to expand our workforce is never taken lightly," said Clark Manning, Jackson's president and chief executive officer. "Given Jackson's rapid growth -- which resulted in record total sales and deposits last year -- and our expectations for future growth opportunities, we must proactively expand, so we will be able to continue to deliver the award-winning service that advisers and their clients have come to expect from Jackson." Jackson, an indirect subsidiary of the United Kingdom's Prudential plc, generated record total sales and deposits of $15.2 billion1 and record IFRS net income of $670 million2 during 2009. Total sales and deposits were 8 percent higher than 2008, primarily due to a 55-percent increase in variable annuity sales to $10.0 billion.
"The Nashville area has a large and well-educated workforce and is home to many institutions of higher learning," said Jackson Vice Chairman and Chief Operating Officer Mike Wells. "With several insurance and financial services companies located in and around Nashville, we expect to be able to quickly attract experienced, qualified job candidates." ((Comments on this story may be sent to email@example.com))
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