What You Need to Know
Prudential did not include Jackson’s results in a companywide performance snapshot.
Sales of variable annuities were up in the first quarter.
Sales of fixed annuities and non-indexed annuities were low.
Prudential PLC said Thursday that it needs more time to separate from Jackson Holdings LLC. — the leader in the U.S. individual deferred annuity market in 2020.
The London-based company reported that it now expects to complete a Jackson “demerger” transaction sometime between July 1 and Dec. 31, rather than by June 30, as predicted in in March.
Prudential plans to implement the demerger by giving shares of Jackson stock to its own shareholders.