Jackson National Life Insurance Co. will triple its number of life insurance policies when it completes a $254 million deal to acquire an Atlanta insurance firm.

In the deal announced today, Jackson National will acquire all the stock and the portfolio of Life of Georgia, whose parent company is ING, a Dutch financial company with net income in 2003 of $15.2 billion.

Life of Georgia has 1.6 million policies in six southeastern states with a face value of $13.4 billion, said Jackson National spokesman Tim Padot. The company currently has 645,000 life insurance policies.

Jackson Life Insurance near to purchasing Atlanta firm

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