Transamerica Retirement Services

Transamerica Corporation is a holding company for various life insurance companies and investment firms doing business primarily in the United States.

History

Transamerica began as a holding company controlled by A. P. Giannini, then head of Bank of America and founder of its predecessor, the Bank of Italy in San Francisco. As part of his vision of providing financial services to the general public, Giannini acquired Occidental Life Insurance Company through Transamerica Corporation in 1930. Occidental had first opened its doors to customers in 1906, and became prominent in the life insurance business on the West Coast.

Transamerica, which also owned the Occidental Life Insurance Company (renamed Transamerica Occidental Life Insurance Company in the early 1980s), intended to create a nationwide bank. However, in 1956, because of the passage of the Bank Holding Company Act, Transamerica Corporation divested itself of its banking concerns, which were spun off as Firstamerica Corporation. This left Transamerica with life insurance and property and casualty insurance operations.

Over the next 20 years, Transamerica gradually became a diversified conglomerate whose subsidiaries included United Artists (a major motion picture studio), Transamerica Airlines, Budget Rent A Car, and a manufacturer of machinery.

In 1972, construction of the Transamerica Pyramid skyscraper in San Francisco was completed. The company's headquarters was located in the building for many years, although today it retains only a small presence in the building. Nevertheless, the company's logo still depicts the iconic building and the firm continues the pyramid logo on its marketing materials.

In the 1980s, Transamerica sold all operations that were not related to its core business of insurance and other financial services.

In the early 1990s, the company briefly entered the UK market.

In July 1999, with Frank C. Herringer as CEO, Transamerica Corporation was acquired by AEGON, an insurance company based in the Netherlands. Transamerica Finance, responsible for commercial lending, was subsequently sold to GE Commercial Finance in 2003.

As part of subsequent consolidation efforts Transamerica announced in early January 2007 that it would be closing its location in downtown Kansas City, Missouri and would be moving the functions performed there to offices in Cedar Rapids, Iowa.

Current

Today, Transamerica's products are distributed by the following entities:

• Transamerica Capital Inc.

• Transamerica Insurance & Investment Group

• Transamerica Investment Management LLC

• Transamerica Reinsurance

• Transamerica Retirement Services

• Transamerica Worksite Marketing.

Recognition by the IMSA

The insurance industry launched the Insurance Marketplace Standards Association (IMSA), as a way of certifying an insurance company's dedication to ethical business practices.

Three Transamerica subsidiaries, Transamerica Occidental Life Insurance Company, Transamerica Life Insurance Company and Transamerica Financial Life Insurance Company were among the first members of the IMSA.

Zach Johnson Sponsorship

AEGON and Transamerica are two of the sponsors for professional golf player, Zach Johnson. For the year 2007 (as of May 22, 2007), Zach had won both the 2007 Masters Championship and the AT&T Classic.

References

1. ^ ^{a b c d} "History". Transamerica. 2008-10-01 . http://www.transamerica.com/company_profile/about_transamerica/transamerica_history.asp . Retrieved 2009-02-04 .  
2. ^ http://kansascity.bizjournals.com/kansascity/stories/2007/01/08/daily35.html
3. ^ "IMSA, Committed to Honesty, Integrity and Ethics". Imsaethics.org . http://www.imsaethics.org/Content/IMSAQualifiedCompanies_34.aspx . Retrieved 2009-02-04 .  

See also

Transamerica Pyramid

TRS :: Transamerica Retirement Services

A full range of retirement services, including 401(k) and profit-sharing plans.

...

Transamerica - Life Insurance, Investments, and Retirement

Offers financial services, insurance and products to help individuals, families, and businesses build, protect, and preserve assets. Provides information about the company and the ...

...

Transamerica Retirement Services

Products and Services. THE TRANSAMERICA ADVANTAGE Transamerica Retirement Services is dedicated to providing a comprehensive retirement solution that exceeds expectations – today ...

...

Transamerica - Company Directory

Transamerica Retirement Services Current or former plan participants please visit www.ta-retirement.com Transamerica Retirement Services Administrators for a Transamerica plan please ...

...

Transamerica Retirement Services

Administrative Services. The retirement answer that delivers dependable, personalized administrative services and guaranteed service standards! 1

...

Transamerica Retirement Services Ranks as the Top Provider in Boston ...

LOS ANGELES--(BUSINESS WIRE)--Transamerica Retirement Services ranked as the top plan provider in a nationwide survey of retirement plan advisors, exceeding the industry norm with ...

...

TRS :: Transamerica Retirement Services

Transamerica Launches Financial Recovery Action Plan for Retirement Plan Participants Hit ... Transamerica Retirement Services CEO Chosen to Lead AEGON’s U.S. Employer Solutions ...

...

Transamerica Retirement Services

Products and Services. OUR CURRENT PRODUCT OFFERINGS. With more than 150 investment choices from over 30 leading investment management companies, Transamerica Retirement Services ...

...

401khelpcenter.com - Transamerica Retirement Services Expands ...

Stig Nybo Promoted to President of Transamerica Retirement Services; Louis Bachetti Joins as National Sales Director

...

Transamerica Retirement Services :: TPA Tools and Resources

MEP with TPA Services. The Ultimate Partnership Multiple Employer Plan providers now have a great new solution for their retirement plan needs! With Transamerica Retirement Service ...

...