Anglo-American General Agents v. Jackson National Life Insurance

MEMORANDUM AND ORDER

This is a diversity action brought by Anglo-American General Agents (“Anglo”) to challenge certain business practices of defendant Jackson National Life Insurance Company (“Jackson”). The other named defendant, A. J. Pasant, is the President and Chairman of the Board of Jackson. Anglo, a general insurance broker specializing in the placement of substandard risk and term insurance through independent life insurance agents and brokers, objected particularly to a change in Jackson’s marketing practices in late 1973. Rather than utilizing only general agents such as Anglo, Jackson began to sell directly to sub-agents through its own regional offices. This change in marketing led to the opening of the Jackson West office in Torrence, California, in the fall of 1973. Problems created by the competition of that office with Anglo culminated in the termination of the parties’ contractual agreement by Jackson, effective on November 26, 1977. On September 19, 1977, three days after Anglo received notice of the termination, Anglo brought this lawsuit and sought preliminary relief against the termination. On December 7, 1977, this court declined to issue a preliminary…