Jackson Financial Announces Effective Form 10 Registration Statement
LANSING, Michigan – (COMMERCIAL THREAD) – Jackson Financial Inc.1 (“Jackson”) announced today that its Form 10 registration statement has been declared effective by the Securities and Exchange Commission (SEC). The SEC Form 10 registration statement includes information regarding the company in connection with Jackson’s previously announced separation from Prudential plc (Prudential; NYSE: PUK), which will be effected through a spin-off. The separation is expected to be completed on September 13, subject to approval by Prudential shareholders.
“The effectiveness of Form 10 is an important milestone as we move towards establishing Jackson as an independent, publicly traded company,” said Laura Prieskorn, CEO of Jackson Holdings LLC. “We expect the separation to further strengthen our mission of helping clients pursue lifelong financial freedom by providing differentiated products through our industry-leading distribution capabilities, an efficient operating platform and management. disciplined risk. Jackson is proud to have an incredible team of committed associates with a culture of ownership and responsibility who will continue to serve us well as an independent public company.
Jackson also today announced the addition of Drew Lawton and Lily Fu Claffee as independent directors to its board of directors, whose appointments will take effect upon completion of the proposed split and bring the total number of directors. at nine.
- Drew Lawton: Lawton brings significant investment and insurance experience from his previous leadership roles at New York Life Insurance Company, including that of Senior Managing Director and CEO of New York Life Investment Management; Senior Managing Director, Retirement Solutions; and Senior Managing Director and CEO, Traditional Investments, and at Fidelity Investments, including the President and CEO of Pyramis Global Advisors Trust Company and Fidelity Management Trust Company.
- Lily Fu Claffee: Claffee is currently Executive Vice President and General Counsel of OneMain Financial. She brings extensive public policy and regulatory expertise, having previously served as Senior Vice President, General Counsel and General Counsel of the United States Chamber of Commerce.
“Mr. Lawton and Ms. Claffee bring considerable experience in the fields of insurance, finance and regulation, adding to the depth and diversity of the board’s expertise,” commented Steve Kandarian, President Non Jackson’s Board Executive. “These additions, coupled with the effectiveness of Form 10, demonstrate a clear momentum on Jackson’s path to becoming an independent public company.”
The efficiency of Form 10 is one of the last steps in the separation process. The separation remains subject to certain customary closing conditions, including obtaining the approval of Prudential shareholders. It is expected that trading of Jackson shares on the New York Stock Exchange under the symbol JXN will commence on September 1, 2021, that the spin-off will be completed on September 13, 2021, and that “Trading in Jackson shares on the New York Stock Exchange will commence on September 20, 2021.
Form 10 provides important information about Jackson’s business strategy, competitive strengths, and historical financial data, among other details for the company. For more information, Form 10 can be viewed at http://www.sec.gov and the related disclosure statement is available on the Prudential website at https: // www. prudentialplc.com.
Jackson® is committed to helping clarify the complexity of retirement planning, for you and your clients. Our annuity product line, financial know-how, award-winning * service history and streamlined experiences strive to reduce the confusion that complicates your clients’ projects. We believe that by providing clarity for all today, we can help achieve better results for tomorrow. For more information, visit www.jackson.com.
* Service Quality Measurement Group (SQM) contact center pricing program for 2004 and 2006-2019. (To achieve world-class certification, 80% or more of call center customers surveyed must have rated their experience as Very Satisfied, the highest possible rating.)
Jackson is an indirect subsidiary of Prudential plc, which provides life and health insurance and asset management, with a focus on Asia and Africa. The company helps people get the most out of life, making healthcare affordable and accessible, and promoting financial inclusion. Prudential protects people’s wealth, helps them grow their assets and allows them to save for their goals. The company has more than 17 million life clients in Asia and Africa and is listed on the London, Hong Kong, Singapore and New York stock exchanges. Prudential is not affiliated in any way with Prudential Financial, Inc., a company headquartered in the United States of America, or The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United States of America. UK.
All statements contained in this communication, other than those relating to historical facts, are “forward-looking statements”. Forward-looking statements can generally be identified by the use of terms such as “anticipate”, “estimate”, “believe”, “expect”, “could”, “anticipate”, “may”, “have the”. intention ”,“ plan, ”“ foresee ”,“ plan ”,“ will ”or“ will ”and similar terms and expressions, including references to hypotheses. This press release contains certain forward-looking statements, which reflect management’s expectations regarding future events and operational performance and speak only as of the date of this press release. These forward-looking statements are not guarantees of future performance or events and are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, which could result in a material difference between actual results and events and such statements. The factors can be found in documents filed by Jackson with the Securities and Exchange Commission, including the risk factors discussed in Exhibit 99.1 of Jackson Form 10, Amendment No. 6, filed August 5, 2021. There can be no assurance that the expectations, beliefs, events or projections will result or be achieved or fulfilled. Jackson assumes no obligation to update or revise this forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.
This announcement does not constitute an offer to sell securities or a solicitation of an offer to buy securities in any jurisdiction and it (or any part thereof), or the fact of its distribution, must not constitute the basis of, or be invoked in connection with, any contract relating thereto.
1 Jackson Financial Inc. (“JFI”) is a US holding company and the direct parent company of Jackson Holdings LLC (“JHLLC”). JHLLC’s wholly-owned indirect subsidiaries include Jackson National Life Insurance Company and PPM America, Inc.