Stake Purchase • Insurance

Athene Invests In Jackson National Life Insurance Co.

On June 18, 2020, Athene invested in insurance company Jackson National Life Insurance Co. from Prudential

Investment Context
  • This is Athene’s 5th transaction in the Insurance sector.
  • This is Athene’s 4th transaction in the United States.
  • This is Athene’s 1st transaction in Michigan.

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Investment Summary

Date June 18, 2020
Target Jackson National Life Insurance Co.
Sector Insurance
Investor(s) Athene
Sellers(s) Prudential
Deal Type Stake Purchase

Target Company

Jackson National Life Insurance Co.

Lansing, Michigan, United States
Jackson National Life Insurance Co. is a provider of retirement products for industry professionals and their clients. The company and its affiliates offer variable, fixed and fixed index annuities designed for tax-efficient growth and distribution of retirement income for retail customers, as well as products for institutional investors. Jackson National Life Insurance was formed in 1961 and is based in Lansing, Michigan.
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Investor Overview 1

Investor

Athene

Hamilton, Bermuda

Category Company
Founded 2008
Sector Insurance
Employees1,983
Revenue 20.7B USD (2024)
DESCRIPTION

Athene is a life insurance holding company focused principally on the retirement market and whose business, through its subsidiaries, is focused primarily on issuing or reinsuring fixed and equity indexed annuities. Athene was formed in 2008 and is based in Pembroke, Bermuda.


Deal Context for Investor #
Overall 6 of 11
Sector: Insurance 5 of 5
Type: Stake Purchase 1 of 1
State: Michigan 1 of 1
Country: United States 4 of 8
Year: 2020 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-10 Aegon Ireland

Dublin, Ireland

Aegon Ireland plc is a provider of wealth management and retirement planning products to over 25,000 customers in the United Kingdom and Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-25 Donlen

Bannockburn, Illinois, United States

Donlen develops innovative fleet management technology solutions and offers a proactive, hands-on approach to customer service. For more than 55 years, Donlen has empowered its customers to focus on their core business and drive continuous improvement in their fleet's operational and financial performance. Donlen was formed in 1965 and is headquartered in Bannockburn, Illinois.

Buy $875M

Seller Profile 1

SELLER

Prudential

Hong Kong, China

Category Company
Founded 1848
Sector Insurance
Employees15,412
Revenue 8.1B USD (2024)
DESCRIPTION

Prudential is a multinational life insurance and financial services company. The business helps individuals to de-risk their lives and deal with their biggest financial concerns through life and health insurance, and retirement and asset management solutions. Prudential was founded in 1848 and is based in Hong Kong, China.


Deal Context for Seller #
Overall 2 of 2
Sector: Insurance 1 of 1
Type: Stake Purchase 1 of 1
State: Michigan 1 of 1
Country: United States 1 of 1
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-23 Prudential Vietnam Finance Co.

Ho Chi Minh City, Vietnam

Prudential Vietnam Finance Co. Ltd. is a first foreign, non-bank financial institution licensed for consumer finance lending in Vietnam. Prudential Finance has pioneered providing customized financial consultancy and loan programs to different customer segments. With the widespread business network nationwide, the company has capability to serve customers with flexible financial solutions, enabling our customers to fulfill their dreams and enhance their living standards.

Sell $151M