Transamerica, Aegon's successful brand in North America, plans to merge and re-brand a number of its statutory life insurance companies. This will allow them to fully 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:
- Monumental Life Insurance Company will change its name to Transamerica Premier Life Insurance Company
- Western Reserve Life Assurance Co. of Ohio will be merged into the new Transamerica Premier Life Insurance Company
- Transamerica Advisors Life Insurance Company of New York will be merged into Transamerica Financial Life Insurance Company
- Stonebridge Casualty Insurance Company will change its name to Transamerica Casualty Insurance Company
"In recent years, we have worked to enhance efficiencies and our ability to better serve those who depend on our core insurance and retirement products and services. Unifying our company 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 Mark Mullin, President and
CEO.
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.
