Jackson National Life Insurance Company plans to set up a regional headquarters office in Franklin, Tenn.
Franklin is a suburb of Nashville, Tenn.
Jackson National, Lansing, Mich., says it will employ 400 people in the Franklin office.
Jackson National, an indirect wholly owned subsidiary of Prudential P.L.C., London (NYSE: PUK), also plans to hire 50 to 100 additional people in Lansing and expand its officers there to accommodate 2,100 employees, the company says.
In Franklin, Jackson National has leased 150,000 square feet of office space. The company will take over 90,000 square feet of the space in January 2011, 30,000 square feet in January 2012 and 30,000 square feet in mid-2013.
The Franklin offices will accommodate 750 employees, Jackson National says.
The employees in Franklin will be in areas such as operations, information technology, distribution, human resources, facilities and administration, Jackson National says.
Jackson National generated $670 million in net income on $15 billion in sales and deposits in 2009, and total sales and deposits were 8% higher than in 2008.
Jackson National variable annuity sales increased 55% to 2009, to $10 billion, the company says.
The company now employs about 3,700 people in 10 U.S. locations.
In addition to facilities in Lansing, Jackson National has offices in Denver; Chicago; Santa Monica, Calif.; New York; Roseland, N.J.; Tampa, Fla.; Atlanta; Appleton, Wis.; and Bismarck, N.D.