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Jackson National Buys Life Of Georgia

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Jackson National Life Insurance Company announced that it has completed its purchase of Life Insurance Company of Georgia from ING Groep N.V.[@@]

Jackson National, Lansing, Mich., announced an agreement to purchase LOG for $254 million last November. Jackson National is a subsidiary of Prudential PLC, London.

ING, Amsterdam, acquired LOG in 1979.

Fitch Ratings, New York, reacted to the news by upgrading LOG to AA- from A, while affirming its existing AA rating on Jackson National.

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