Here’s a rundown on the changes of keenest interest to insurance advisors...
BALTIMORE, Aug. 7, 2014 /PRNewswire/ -- Transamerica has undertaken a program to merge and rename certain of its statutory insurance companies to further leverage the strength and distinctiveness of its iconic brand. The majority of the rebranding program, which is subject to regulatory approval, is expected to be completed later this year.
The following legal entities will be impacted by this program:
"In recent years, we have brought together our businesses in order to enhance efficiencies and better serve those who depend on our core insurance and retirement products and services. Unifying our businesses under the distinctive and highly-respected Transamerica brand will further assert the strength of our organization and what it is we offer those determined to achieve peace of mind and long-term financial security," said Gregory Tucker, Senior Vice President of Corporate Communications.
Coverage and benefits provided under customers' policies and contracts underwritten by the insurance entities impacted by these activities will not be affected. Impacted customers are scheduled to receive notifications and, as appropriate, endorsements in the coming months. For additional questions, customers may contact Transamerica or their financial advisor.
With a history that dates back over 100 years, the Transamerica companies are recognized as leading providers of life insurance, savings and retirement and investment solutions, serving millions of customers throughout the United States and Canada.
Transamerica works to Transform TomorrowÂ® for those who entrust its dedicated professionals with their financial needs, helping them take the necessary steps to achieve their long-term goals and aspirations. Transamerica's 10,000 employees serve nearly every customer segment, providing a broad range of quality life insurance and savings products, individual and group pension plans, as well as asset management services. In 2013, Transamerica fulfilled its promises to customers, paying over $6.5 billion in benefit claims, including return of premiums paid.
Transamerica's corporate headquarters are based in Cedar Rapids, Iowa and Baltimore, Maryland. Transamerica is a member of the Aegon group of companies. Aegon is one of the world's largest life insurance, pension and asset management groups, operating in over 25 markets worldwide with some 27,500 employees. As of March 31, 2014, Aegon managed â‚¬482 billion in revenue generating investments.
The reference to Transamerica and Aegon relates to affiliated operating companies.
Contact name: Gregory Tucker