LANSING, Mich.--(BUSINESS WIRE)--Jackson National Life Insurance Company® (Jackson®) today announced the appointment of Barry Stowe as chairman and chief executive officer of the North American Business Unit (NABU) of Prudential plc, which includes Jackson and its affiliated and subsidiary companies. Stowe succeeds Mike Wells, who today assumes the role of group chief executive of Prudential plc.
Stowe previously held the position of chief executive of Prudential Corporation Asia (PCA) and remains on the Board of Prudential plc representing the NABU. In his new role, he is responsible for guiding the vision and strategic direction of Jackson, its subsidiaries Jackson National Life Distributors LLC (JNLD), Curian Capital,® LLC (Curian) and Jackson National Asset Management (JNAM), and its U.S. affiliates National Planning Holdings,® Inc. (NPH) and PPM America, Inc.(PPMA).
“At Prudential, we are privileged to have a leadership team with both strength and depth,” Wells said. “Barry has played a huge role in the remarkable success of our Asian operations and under his leadership, our North American businesses will continue to strengthen.”
Before joining Prudential, Stowe served as president of Accident & Health Worldwide for AIG Life Companies. Prior to this role, he held the position of president and chief executive officer of Nisus, a subsidiary of Pan-American Life, from 1992 to 1995. Before joining Nisus, he spent 12 years at Willis Corroon. From 2008 to 2011, Stowe was a director of the Life Insurance Marketing Research Association (LIMRA) and the Life Office Management Association (LOMA). He is also a member of the Board of Directors of the International Insurance Society.
Additionally, Jim Sopha, chief operating officer, will assume the role of president of Jackson, reporting to Stowe. Sopha is a 13 year veteran of Jackson who previously led Jackson’s corporate development office before becoming chief operating officer in 2010. He has 31 years experience in the financial services industry.
“Our U.S. business is well-positioned to continue to take advantage of the transition into retirement of the American ‘Baby Boomers,’ the wealthiest generation who has ever lived,” Stowe said. “The North American team has a clear strategy and proven ability to deliver for customers and shareholders. I am looking forward to working with them.”
About Jackson National Life Insurance Company
Jackson National Life Insurance Company is an indirect subsidiary of Prudential plc, a company incorporated in England and Wales. Prudential plc and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services through its subsidiaries and affiliates throughout the world. It has been in existence for over 160 years and has $773.3 billion in assets under management (as of December 31, 2014). Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
With $212.2 billion in IFRS assets, Jackson is a leading provider of retirement solutions. The company sells variable, fixed and fixed index annuities, and institutional products. Through its affiliates and subsidiaries, Jackson also provides asset management and retail brokerage services. Jackson markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, wirehouses, financial institutions and independent insurance agents. Jackson’s subsidiary, Jackson National Life Insurance Company of New York, similarly markets products in the state of New York. For more information, visit www.jackson.com.