Singapore grants Aegon subsidiary license to sell life insurance

Aegon N.V. has announced that Transamerica Occidental Life Insurance Company (Transamerica), a subsidiary of the Aegon Group, received a license from the Monetary Authority of Singapore to operate as a direct life insurer.

Transamerica has established a branch in Singapore, and will be offering universal and term life insurance products to the individual market through Singapore-based financial advisors.