An affiliate of Jackson National Life Insurance Co. has agreed to buy IFC Holdings Inc., a unit of Amsouth Bancorp that provides brokerage services to over 450 small-bank clients.

IFC, the leading seller of investment products through banks, will become a subsidiary of National Planning Holdings of Santa Monica, Calif. Jackson National, a Lansing, Mich., subsidiary of London's Prudential PLC, is one of the top 10 sellers of annuity products through banks.

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