Transamerica is a long-time sponsor of Cedar Rapids native and 12-time PGA Tour winner Zach Johnson. In December 2020, Transamerica announced it would no longer sell variable annuities with benefit riders and fixed index annuities and is also exiting the standalone long-term care market. Other services include plan-level record keeping and administrative services, participant communications and education services, fiduciary risk mitigation services, open investment architecture, and compliance guidance and regulatory support. Transamerica's retirement division offers defined benefit pension plans and defined contribution retirement plans, including 401(k) and 403(b), 457, profit sharing, money purchase, cash balance, Taft-Hartley, multiple employer plans, nonqualified deferred compensation, and rollover individual retirement accounts. Transamerica has over 15,000 licensed insurance agents just in the state of California. Transamerica companies also offer a variety of mutual funds and annuities. Types of life and health insurance policies offered include term life, whole life, universal life, variable universal life, accidental death, Medicare supplement, and long-term care. Transamerica primarily offers insurance and financial services. However, this project was abandoned in 2023. In 2018, Transamerica entered a 10 year, $2 billion agreement with Tata Consultancy Services, an Indian technology company, to digitize their policies under a single platform. Transamerica Occidental merged into Transamerica Life Insurance Company on October 1, 2008. Herringer announced that Aegon, the Netherlands-based insurer, would acquire the company. It was eventually reduced to three main product divisions: insurance, investments, and retirement planning. In the 1980s, Transamerica began to divest and focused exclusively on financial services. Although the company currently retains only a few offices in the building, the pyramid is still depicted in the company's logo and marketing materials. In 1972, the company completed construction of the Transamerica Pyramid skyscraper in San Francisco which served as its headquarters for many years. Over time, the company became a more diversified conglomerate that included the film distributor United Artists, Transamerica Airlines and Budget Rent a Car. Following the acquisition, Occidental was renamed Transamerica Occidental Life Insurance Company. Giannini said the purchase of the West Coast-based life insurance company was part of a plan for Transamerica to control every type of financial service. At the time, Occidental had over $25 million in assets and over $150 million in life insurance policies in force. In March 1930, Transamerica acquired Occidental Life Insurance Company, founded in 1906. The Bank of Italy later merged with Bank of America, Los Angeles in 1928, which was then renamed Bank of America in 1930. The Trans-America Corporation original headquarters was located at 4 Columbus Avenue in San Francisco. In October 1928, Giannini created a holding company that he named the Trans-America Corporation, which owned Bank of America, Bank of Italy, Bancitaly Corporation, National Bankitaly Company, California Joint Stock Land Bank, and Banca d'America e d'Italia, which gave it assets in excess of $1.5 billion (equivalent to $26 billion in 2022). Giannini founded the Bank of Italy in San Francisco. History The Transamerica Pyramid in San Francisco Transamerica funds the Transamerica Institute, a nonprofit foundation which comprises the Transamerica Center for Retirement Studies and the Transamerica Center for Health Studies. In 1999, it became an independent subsidiary of multinational company Aegon. Additional affiliated offices are located throughout the United States. The company has major offices located in Baltimore, Maryland Cedar Rapids, Iowa Denver, Colorado Norwood, Massachusetts Exton, Pennsylvania Harrison, New York Johns Creek, Georgia Plano, Texas and St. The Transamerica Corporation is an American holding company for various life insurance companies and investment firms operating primarily in the United States, offering life and supplemental health insurance, investments, and retirement services.
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