Jackson National Life Insurance Co. is closing its Denver office by the end of 2018, a spokeswoman for the company confirmed Monday night.
The Lansing, Michigan-based company has a Denver Tech Center office at 7601 Technology Way in south Denver, where it employs 450 associates.
"Jackson’s Denver location has experienced reduced staffing needs over the past few years, while our Nashville and Lansing locations have continued to grow," spokeswoman Melissa Hernandez told the Denver Business Journal via email. "As a result, we have decided to consolidate our teams and close our Denver location."
Jackson National Life Insurance, which is a unit of United Kingdom-based insurance giant Prudential plc, opened its Denver office 20 years ago. The firm specializes in annuities and variable annuities.
Hernandez wrote that most of the associates would be offered relocation to the other regions, but declined to say how many of the 450 would be given the offer. The company has offices in El Segundo, California; Bismarck, North Dakota; Appleton, Wisconsin; Chicago; Franklin, Tennessee; and Tampa, Florida.
"Jackson is committed to working to provide both financial and career-related resources to make the transition as smooth as possible," she said in the email.
The company said it generated a record $1.4 billion in pre-tax operating income during the first half of 2017, an increase of 7 percent over the first half of 2016. Jackson said it recorded sales and deposits of $12.1 billion in the first half of the year, up 8 percent from the same period in 2016.