NU Online News Service, Jan. 27, 2004, 6:13 p.m. EST – Jackson National Life Insurance Company is starting to see results from its shift to retail products.[@@]
The Lansing, Mich.-based subsidiary of Prudential P.L.C., London, watched its overall sales drop to $6.7 billion in 2003, down 23% from the 2002 total, after it de-emphasized institutional products such as guaranteed investment contracts and medium-term notes.
“Basically, we decided to focus capital resources on retail because Prudential P.L.C. stated that as our goal in early 2003,” says Jackson National spokeswoman Kim Pilgrim.