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.