Transamerica Corporation facts for kids
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| Private | |
| Industry | Insurance Investments Retirement planning |
| Founded | 1928 |
| Headquarters | Baltimore, MD, US |
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Number of locations
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3,000 (estimated) |
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Area served
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Worldwide |
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Key people
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A.P. Giannini, founder Will Fuller, CEO |
| Products | Life insurance, Investment & Retirement services |
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Number of employees
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25,000 (2018) |
| Parent | Aegon |
The Transamerica Corporation is an American company. It helps people with things like life insurance and investments. They also offer services to help you plan for retirement. Transamerica has offices in many cities across the United States. These include Baltimore, Maryland, and Cedar Rapids, Iowa.
Since 1999, Transamerica has been part of Aegon. Aegon is a big financial company from the Netherlands. Transamerica also supports the Transamerica Institute. This is a non-profit group that studies retirement and health.
Contents
How Transamerica Started
Transamerica's story began in 1904. A man named Amadeo Giannini started the Bank of Italy in San Francisco. This bank later became known as Bank of America.
In 1928, Giannini created a new company called Transamerica Corporation. He put the bank under this new company. A "holding company" owns other companies.
Growing the Company
In 1930, Transamerica bought an insurance company. It was renamed Transamerica Occidental Life Insurance Company. Over time, Transamerica grew to include many different types of businesses.
These businesses included a movie distributor called United Artists. They also owned an airline, Transamerica Airlines. Even a car rental company, Budget Rent a Car, was part of Transamerica.
The Famous Pyramid
In 1972, Transamerica finished building a tall skyscraper. It is called the Transamerica Pyramid and is in San Francisco. This building was the company's main office for many years.
Today, Transamerica still uses the pyramid in its logo. It is a very famous building.
Focusing on Financial Help
In the 1980s, Transamerica started to sell off some of its businesses. The company decided to focus only on financial services. This means they focused on insurance, investments, and retirement planning.
In 1999, Aegon, a company from the Netherlands, bought Transamerica. This made Transamerica part of a larger global company.
What Transamerica Offers
Transamerica mainly offers insurance and financial services. These services help people protect their money and plan for the future.
Insurance Products
They offer different kinds of life and health insurance. These include term life, whole life, and universal life insurance. They also offer accidental death insurance.
Some policies help with Medicare supplement and long-term care. Transamerica companies also offer mutual funds and annuities. These are ways to invest money.
Retirement Planning
Transamerica's retirement division helps people save for when they stop working. They offer different types of retirement plans. These include 401(k) and 403(b) plans.
They also help with IRAs. Transamerica helps companies manage these plans. They also teach people about saving for retirement.
Who Transamerica Sponsors
Transamerica supports many athletes and organizations. This is a way for them to connect with communities.
Sports Sponsorships
They have sponsored Zach Johnson, a famous golfer from Cedar Rapids, Iowa. He has won many PGA Tour events. Transamerica also sponsors other golfers like Kyle Stanley and Stewart Cink.
They also support Azahara Muñoz, a female golfer. Transamerica helps the American Junior Golf Association. This group helps young golfers.
In 2015, Transamerica became a shirt sponsor for the Colorado Rapids. This is a soccer team in Denver. They also have a sponsorship with the team's goalkeeper, Tim Howard.
Other Partnerships
Transamerica also works with the Massachusetts Institute of Technology AgeLab. They also partner with the American Heart Association. These partnerships help with research and health.
Transamerica's Foundations
Transamerica funds two special groups called foundations. These foundations help communities and do important research.
Aegon Transamerica Foundation
The Aegon Transamerica Foundation was started in 1994. It gives money to non-profit groups in communities. Transamerica employees also volunteer their time to help these groups.
In 2013, this foundation won an award. They won for creating the first urban farm in Iowa. This farm helps grow food in the city.
Transamerica Institute
The Transamerica Institute has two main parts. One part is the Transamerica Center for Retirement Studies. This center studies how people save for retirement. It also teaches people how to plan for their future.
The other part is the Transamerica Center for Health Studies. This center looks at health care issues. It helps people and businesses understand health care better. The Transamerica Life Insurance Company provides money for this institute.
