Jackson to Fully Separate From Prudential plc Through Proposed Spin-Off in 2Q 2021

Jan 28, 2021

Prudential plc (“Prudential” or “the Group”), the parent company of Jackson+Financial+Inc.¹ (“Jackson”), today announced that the Prudential Board has decided to pursue the separation of Jackson from the Group in the second quarter of 2021 through a demerger, whereby shares in Jackson would be distributed to Prudential shareholders. The demerger, also known as a spin-off in the U.S., is subject to shareholder and regulatory approval and would lead to a significantly earlier separation of Jackson than would have been possible through a minority IPO and future sell-downs. At the time of the spin-off, Prudential intends to retain a 19.9 percent interest in Jackson that it will fully divest over time.

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