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Nicole G. Lorey
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Debra Newton
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TRANSAMERICA LIFE (BERMUDA) LTD.TO SELL LIFE INSURANCE THROUGH ITS HONG KONG AND SINGAPORE BRANCH OFFICES
LOS ANGELES, (May 16, 2006) – Transamerica Occidental Life Insurance Company (Transamerica Occidental Life) announced today the establishment of a Bermuda company, Transamerica Life (Bermuda) Ltd. (Transamerica Life Bermuda),
a subsidiary of Transamerica Occidental Life with branch offices in Hong Kong and Singapore.
Transamerica Life Bermuda will offer universal and term life insurance products to clients who are non-U.S. policyowners through Asia-based General Agents and distributors. The Bermuda company has the same Standards & Poor’s very strong ‘AA’ financial strength rating as Transamerica Occidental Life.
"We bring an established tradition of financial strength and service in providing life insurance products to benefit individuals, families and businesses throughout Asia Pacific," said Niju Vaswani, Managing Director, Transamerica Life Bermuda. "Our Bermuda company provides a platform for our international growth and further strengthens our ability to serve our clients in that region."
Founded 100 years ago, Transamerica Occidental Life has more than 70 years of experience in providing life insurance products to Asia residents. The company celebrated the grand opening of its Singapore branch in October, 2005.
“Transamerica Life Bermuda affords us the flexibility to build products especially for Asia and the Pacific Rim,” said Transamerica Life Bermuda’s Vice President, General Manager and Local Chief Executive for the Hong Kong Branch Office, K.Y. To.
Added Laurence Wong, Vice President, General Manager and Principal Officer, Singapore Branch Office of Transamerica Life Bermuda, “Our insurance products complement the region’s well-established private banking and financial services.”
The Transamerica companies were built by people committed to customers’ long-term interests. “It’s this dedication to financial responsibility that will carry us to greater heights in our next hundred years,” explained Ken Kilbane, President of Transamerica Life Bermuda.
Information on Transamerica Life Bermuda’s life insurance products and services can be obtained through its two Asia-based branches.
Hong Kong Branch Office
K.Y. To, Vice President, General Manager and Local Chief Executive
Suites 3001-6, 30/F, RBS Tower
Times Square, Causeway Bay, Hong Kong
Telephone: (852) 2506-0311
http://www.transamerica.com.hk/
Singapore Branch Office
Laurence Wong, Vice President, General Manager and Principal Officer
9 Raffles Place, #53-02, Republic Plaza, Singapore 048619
Telephone: (65) 6236-2366
http://www.transamerica.com.sg
About Transamerica
Transamerica has conducted business in Asia for more than 70 years. It established its first branch in Shanghai in 1933, opened a second branch in Hong Kong in 1947, and began sales operations in Japan in 1955. Transamerica remains one of the few U.S. companies authorized as a branch in Hong Kong.
Founded in 1906 as Occidental Life Insurance Company, Transamerica Occidental Life has led the insurance industry in the development of innovative products and earned a reputation for financial strength, stability and dependability in meeting its customers’ needs.
Transamerica Life (Bermuda) Ltd. is a long-term insurer incorporated in Bermuda. Transamerica Life (Bermuda) Ltd., domiciled in Bermuda, and Transamerica Occidental Life, domiciled in the U.S., are member companies of the AEGON Group. The AEGON Group is one of the world’s leading life insurance and pension companies, and a strong provider of investment products.
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