Transamerica Occidental Insurance Company

Transamerica Occidental Insurance Company
1150 S. Olive Street
Los Angeles, CA 90015
(213) 742-2111
(213) 741-6623

Transamerica Occidental Insurance Company is a subsidiary of The Transamerica Corporation. The company’s line of business is life insurance, and does business in health maintenance organizations, investment services, life insurance, and pension funds. Occidental Life had assets of $23.7 billion and $648 billion of life insurance in force, with estimated annual sales of $3,995,709,614. The company has total employees of 3,700, headed by President Bradford Freeman, Chief Operation Officer Diane Meiners, and Vice President for Sales and Marketing George Thomas.

Its products include Trendsetter Super 10, 15, and 20 year term, and Trendsetter 30/10, which are renewable to age 95 and convertible to age 70. The minimum issue age for the coverage is 18, while minimum face amount is $100,000.

Occidental Life’s parent company, The Transamerica Corporation was formed by A.P. Giannini in 1928 as a holding company for Bank of Italy (later to become Bank of America) and his other business interests. With its iconic pyramid rising out of San Francisco’s financial district, Transamerica is one of the most recognized financial institutions in United States history. The corporation flourished with banking and insurance for nearly 30 years and has been experiencing exceptional growth ever since. It owned successful enterprises such as United Artists and Budget Rent-a-Car. Despite these other undertakings, Transamerica stayed focused on its foundation of securing customers assets and their future with first-rate life insurance products.

In the 1990’s, Transamerica, under the leadership of Chairman and Chief Executive Officer Frank Herringer, focused on building shareholder value by being an industry leader in all of its main businesses, including life insurance, commercial lending, leasing and real estate services. In July 1999, Transamerica became a part of AEGON N.V., a multinational insurance organization headquartered in The Hague, The Netherlands and one of the world’s leading life insurance and financial services organizations.

The companies of Transamerica, including Occidental Life, provide a broad range of ground-breaking financial services and products covering individuals, families, and businesses alike. Regardless of the distribution method, helping individuals, families, and businesses build, safeguard, and preserve their well-deserved assets is the mission of Transamerica. Having more than a century of experience, Transamerica has formed a solid reputation on consumer confidence, sound decisions, and sturdy management.

Transamerica’s subsidiaries have received high ratings from the industry’s most respected independent rating services. These constantly high ratings are a straight reflection of the care with which Transamerica manages its business. As of July 2010, Transamerica subsidiaries received A+ or Superior from A.M. Best, AA- or Very Strong from Standard & Poor’s, A1 or Good from Moody’s, and AA- or Very Strong from Fitch. These insurance rating agencies assign the ratings of a company’s financial strength and ability to meet obligations to policyholders, after evaluating the company’s financial condition and operating performance. A.M. Best’s A+ rating is the second highest of 16 ratings, Standard & Poor’s AA- rating is the fourth highest of 21 ratings, Moody’s A1 rating is the fifth highest of 21 ratings, and Fitch’s AA- rating is the fourth highest of 19 ratings.