Transamerica News

Iowa-Based Global Insurance Accelerator Names 2016 Class of Startups

Global Insurance Accelerator (GIA), a Des Moines, Iowa-based global business accelerator focused on developing and growing innovative insurance-centric startups, has announced its 2016 portfolio. With a global pool of twice as many applicants compared to the previous year, the five …

Update: Dutch Insurer Aegon Plans $432M Share Buy-Back, to Cut U.S. Costs

Aegon NV jumped the most in almost six years after saying it plans to buy back 400 million euros ($432 million) of shares and cut costs to improve its return on equity. The Dutch owner of insurer Transamerica Corp. announced a plan …

Aegon, Transamerica’s Owner, Added to FSB’s List of 9 Too-Big-to-Fail Insurers

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., has been added to a list of insurers deemed systemically important by global financial rule makers, while Italy’s Assicurazioni Generali SpA was removed. The updated list of nine too-big-to-fail insurers was published …

Former Penn. Commissioner Consedine Joins Transamerica to Lead Gov’t Affairs

Transamerica, headquartered in Baltimore, Maryland, has appointed former Pennsylvania Insurance Commissioner Michael F. Consedine as senior vice president, deputy general counsel and executive director of government affairs.

Minnesota: Transamerica, MetLife Must Pay Insurance Policy Proceeds

Minnesota Department of Commerce Commissioner Mike Rothman has signed regulatory settlement agreements with Transamerica and MetLife that require both insurance companies to pay Minnesota beneficiaries their rightful proceeds from life insurance policies, annuity contracts and retained asset accounts; and $4 …

Best Upgrades SCOR & Subs Credit Ratings; Affirms Financial Ratings

A.M. Best Europe – Ratings Services Limited has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of French reinsurer SCOR SE and its main subsidiaries. Best  also upgraded …

SCOR Reports Q3 Net Income of $255 Million; Gains on Transamerica Sale

French reinsurer SCOR Group announced net income for the third quarter of 2011 of €188 million [$255 million], a 70.1 percent increase from the same period last year, as gross written premiums topped €2 billion [$2.71 billion] during the period, …

SCOR Confirms Earnings Targets; Strategic ‘Strong Momentum’ Plan

French reinsurer SCOR confirmed the targets of its strategic plan -‘Strong Momentum’ – at its annual Investors’ Day, held on Wednesday in Paris. An updated version of the ‘Strong Momentum’ plan, first established in 2010, “has been prepared to take …

Best Affirms SCOR and Subs Ratings after Transamerica Re Deal

A.M. Best Europe – Ratings Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of French reinsurer SCOR SE and its subsidiaries. Best also affirmed the subordinated debt ratings …