UK's Prudential Preps Partial IPO Of US-Based Insurance Arm
Law360 (March 11, 2020, 6:52 PM EDT) -- U.K.-based insurer Prudential PLC announced Wednesday that it is preparing for a minority initial public offering of its U.S.-based arm, Jackson National Life Insurance Co., after determining that seeking a listing is the best route to introduce third-party finance.
Prudential Group Chief Executive Mike Wells said in a statement that the Lansing, Michigan-based insurer needs additional investment, and that the company has already taken actions to support the commencement of an IPO. Initial filings with the U.S. Securities and Exchange Commission were not immediately available Wednesday.
"We will now commence detailed engagement with our key stakeholders, with a view to ensuring...
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