Jackson Announces $125 Million Share Repurchase – InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Annuity News
Topics
    • Life Insurance
    • Annuity News
    • Health/Employee Benefits
    • Property and Casualty
    • Advisor News
    • Washington Wire
    • Regulation News
    • Sponsored Content
    • Webinars
    • Monthly Focus
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • Magazine
  • Free Newsletters
  • Insider
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Newsletters

Get Social

  • Facebook
  • Twitter
  • LinkedIn
Annuity News
Annuity News RSS Get our newsletter
Order Prints
December 13, 2021 Annuity News No comments
Share
Share
Tweet
Email

Jackson Announces $125 Million Share Repurchase

Business Wire
LANSING, Mich.--(BUSINESS WIRE)--
Jackson Financial Inc.1 (NYSE: JXN) (Jackson®), as part of its previously disclosed $300 million share repurchase program, has signed agreements to repurchase Class A common stock from Prudential plc (Prudential; NYSE: PUK) and Athene Co-Invest Reinsurance Affiliate 1A Ltd. (Athene) for a total purchase price of approximately US $125 million.

Jackson is repurchasing a total of 2,242,516 shares of its Class A common stock from Prudential, consistent with Prudential’s previously disclosed intent to sell a portion of its ownership of Jackson shares. Jackson is also repurchasing a total of 1,134,767 shares of its Class A common stock from Athene. The transactions are being funded with cash on hand.

Today’s repurchases from Prudential and Athene bring Jackson’s total share repurchases to approximately US $185 million under the share repurchase program. Additional repurchases under the program may be made through open market purchases, unsolicited or solicited privately negotiated transactions, or in such other manner and at such times as management determines in compliance with applicable legal requirements. The number of shares to be repurchased and the timing of such transactions will depend on a variety of factors, including market conditions. Management reserves its right to amend or terminate the program at any time in its discretion.

ABOUT JACKSON

Jackson® (NYSE: JXN) is committed to helping clarify the complexity of retirement planning—for financial professionals and their clients. Our range of annuity products, financial know-how, history of award-winning service* and streamlined experiences strive to reduce the confusion that complicates retirement planning. We take a balanced, long-term approach to responsibly serving all of our stakeholders, including customers, shareholders, distribution partners, employees, regulators and community partners. We believe by providing clarity for all today, we can help drive better outcomes for tomorrow. For more information, visit www.jackson.com.

Visit https://investors.jackson.com to view information regarding Jackson Financial Inc. We use this website as a primary channel for disclosing key information to our investors, some of which may contain material and previously non-public information.

*SQM (Service Quality Measurement Group) Contact Center Awards Program for 2004 and 2006-2020. (To achieve world-class certification, 80% or more of call-center customers surveyed must have rated their experience as very satisfied, the highest rating possible).

Jackson National Life Insurance Company is a wholly owned subsidiary of Jackson Financial Inc. Jackson Financial Inc. is a publicly traded company. Prudential plc and Athene Life Re Ltd. each hold a minority economic interest in Jackson Financial Inc. Prudential plc has no relation to Newark, New Jersey-based Prudential Financial, Inc.

Jackson® is the marketing name for Jackson Financial Inc., Jackson National Life Insurance Company® (Home Office: Lansing, Michigan) and Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York).

SAFE HARBOR STATEMENT

This press release may contain certain statements, other than those relating to historical facts, that constitute “forward-looking statements.” Forward-looking statements can generally be identified by their use of terms such as “anticipate,” “estimate,” “believe,” “expect,” “could,” “forecast,” “may,” “intend,” “plan,” “predict,” “project” “will” or “would” and similar terms and phrases, including references to assumptions. Forward-looking statements are not guarantees of future performance, are subject to a number of assumptions, and are inherently susceptible to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. Reference is made to our Form 10 registration statement and reports filed with the U.S. Securities and Exchange Commission for a discussion of risks and uncertainties that we face and could affect our forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions. There can be no assurance that management’s expectations, beliefs or projections will result or be achieved or accomplished. Any forward-looking statements reflect Jackson’s views and assumptions as of the date of this press release and Jackson disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

1 Jackson Financial Inc. is a U.S. holding company and the direct parent of Jackson Holdings LLC (JHLLC). The wholly-owned subsidiaries of JHLLC include Jackson National Life Insurance Company, Brooke Life Insurance Company, PPM America, Inc. and Jackson National Asset Management, LLC.

Media Contact:

Patrick Rich
[email protected]

Investor Relations Contact:

Andrew Campbell
[email protected]

Source: Jackson Financial Inc.

Older

Ryan Specialty Signs Definitive Agreement to Acquire Keystone Risk Partners

Newer

Coalition Launches Captive to Accelerate its Growth in Cyber Insurance

Advisor News

  • U.S. markets close flat as more positive inflation data rolls in
  • 69% of Americans concerned about their current financial situation
  • Expand your Social Security knowledge with these four terms
  • FINANCIAL FOCUS: Are you properly insured?
  • Liz Weston: 3 ways to fight inflation and win the long game
More Advisor News

Health/Employee Benefits News

  • UnitedHealthcare introduces new business unit Surest
  • Texas lawmakers ask feds to reconsider Medicaid expansion proposal
  • Plan to help poor Mississippians with health insurance stripped from latest federal bill
  • Giannis Antetokounmpo invests in telehealth company
  • Drug companies are warning that pricing reform spells doom. Don't fall for it
More Health/Employee Benefits News

Life Insurance

  • Alex Murdaugh petitions to delay Mallory Beach trial amid murder charges
  • Sales of life combination products rebound in 2021, LIMRA reports
  • Integrity Marketing Group acquires Richman Insurance Agency
  • How to get the most out of Life Insurance Awareness Month
  • Life application activity down in July, MIB Index reports
More Life Insurance

Property and Casualty News

  • Fraud charge for Apex man accused of filing fake Rolex receipt in insurance claim
  • Gas, taxes, unemployment: New relief available to STL flood victims
  • Who's responsible for home repairs after I-70 floods?
  • Businesses increasingly concerned about meeting ransomware demands
  • Louisiana deputies pull over driver for speeding, find 19 beers, most open, in uninsured vehicle
More Property and Casualty News

- Presented By -

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

FEATURED OFFERS

Get Linked INN to your industry Connect with INN on LinkedIn to be first on all the news and insights that matter to your industry.

Press ReleasesAll press releases

  • National Western Life introduces newest fixed indexed annuity, NWL® New Frontiers
  • CybeReady Supports Security Defenses with CISO Toolkit
  • Life and Disability Income Insurance Products from MassMutual Now Available on iPipeline®’s End-to-End Digital Platform
  • Business on the Go with The Crump Mobile App
  • iPipeline® Provides Advisors Excel with Unified Path Toward Accessing Core Data Analytics in Financial Services
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty
  • Advisor News
  • Washington Wire
  • Regulation News
  • Sponsored Content
  • Webinars
  • Monthly Focus

Top Sections

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits News
  • Property and Casualty News
  • AdvisorNews
  • Washington Wire
  • Insurance Webinars

Our Company

  • About
  • Editorial Staff
  • Magazine
  • Write for INN
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2022 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.