Jackson National Life Insurance Company announced that it has entered into an agreement to purchase SRLC America Holding Corp. (SRLC) from Swiss Re.
Jackson will pay $621 million in cash for the business, subject to adjustments reflecting the value of the business at closing. The purchase will be financed in its entirety from internal Jackson resources. The transaction is subject to regulatory approval and is expected to close in the third quarter of 2012.
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