Transamerica News

Aegon, Transamerica Owner, Sells $4.4B UK Annuity Portfolio to Legal & General

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., divested the final 3 billion pounds ($4.4 billion) of annuities from its U.K. portfolio to Legal & General Group Plc. The transaction, which covers 27,000 policyholders, will release another 275 …

Aegon to Sell $8.5B of U.K. Annuity Portfolio to Rothesay Life, to Free Up Capital

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., agreed to sell two-thirds of its U.K. annuity portfolio to Rothesay Life Ltd., helping to boost capital buffers under new regulations. Aegon will initially reinsure 6 billion pounds ($8.5 billion) …

Update: Aegon Reports Q4 Pretax Profit of $534.9M, Down 14% on U.S. Income

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., fell in Amsterdam trading after decline in U.S. income pushed down fourth-quarter pre-tax earnings. The stock dropped as much as 4.5 percent and was down 3.2 percent as of 10:25 a.m. Underlying …

Minnesota: Exams of 16 Life Insurers Find $174M in Unpaid Benefits, So Far

Minnesota Commerce Commissioner Mike Rothman announced that his department has reached settlement agreements with three more life insurance companies that owed money to Minnesotans for unpaid insurance policies, annuity contracts and retained asset accounts. The settlements bring to $174 million …

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 …