New products and low interest rates shaped sales at Jackson National Life Insurance Company during the first quarter.
Jackson National’s parent, Prudential P.L.C., London, is reporting the equivalent of $20 billion in total new insurance and investment business for the first quarter, up 2.4% in dollar terms from the total for the first quarter of 2005.
The value of the dollar rose to ?1=$1.73948 March 31, up 7.4% from an exchange rate of ?1=$1.8787 a year earlier, according to OANDA Corp., New York.
In U.K. currency, Prudential is reporting about ?12 billion in new sales, up 11% from the first-quarter 2005 total.