Prudential to spin off Jackson Financial.

Prudential, a financial services company, agreed to spinoff Jackson Financial, a provider of retirement products. Financial terms were not disclosed. At the time of the spin-off, Prudential intends to retain a 19.9% interest in Jackson that it will fully divest over time. Jackson continues to progress with key stakeholders and, following the proposed separation, expects to list on the New York Stock Exchange using the ticker “JXN.” “As we move closer to the demerger, Jackson continues its core focus on providing industry leading products and services to our clients, managing risk and generating capital returns for shareholders. Steve brings significant insurance sector experience to Jackson that will serve our firm and stakeholders well. We are excited to have him on board and look forward to benefiting from his insights and guidance in years to come," Michael Falco, Jackson CEO.