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Transamerica Corporation
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. The company is located in Baltimore, Maryland, with its subsidiary Transamerica Life Company headquartered in Cedar Rapids, Iowa; It has back offices Denver, Colorado; Harrison, New York; Toronto, Ontario; Philadelphia, Pennsylvania; and Knoxville, Tennessee. Additional affiliated offices are located throughout the United States. In 1999, it became an independent subsidiary of multinational company Aegon.
Contributions from the Transamerica Life Insurance Company and its affiliates fund the Transamerica Institute, a nonprofit, private foundation. The Transamerica Center for Retirement Studies is an operating division of Transamerica Institute.
In October 1904, A. P. Giannini founded the Bank of Italy in San Francisco. In October 1928, Giannini created a holding company that he named the Transamerica 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 $28 billion in 2025). The Transamerica Corporation original headquarters was located at 4 Columbus Avenue in San Francisco. The Bank of Italy later merged with Bank of America, Los Angeles in 1928, which was then renamed Bank of America in 1930.
In March 1930, Transamerica acquired Occidental Life Insurance Company, founded in 1906. At the time, Occidental had over $25 million in assets and over $150 million in life insurance policies in force. 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. Following the acquisition, Occidental was renamed Transamerica Occidental Life Insurance Company.
Over time, the company became a more diversified conglomerate that included Liberty Records, the film distributor United Artists, Trans International Airlines (bought from Kirk Kerkorian, later known as Transamerica Airlines) and Budget Rent a Car.
In 1972, the company completed construction of the Transamerica Pyramid skyscraper in San Francisco which served as its headquarters for many years. Although the company currently retains no offices in the building, the pyramid is still depicted in the company's updated logo (as of 2025) and marketing materials.
In the 1980s, Transamerica began to divest and focused exclusively on financial services. In 1981, Transamerica sold United Artists to Tracinda Corporation, a media company owned by Kirk Kerkorian which in turn also owned Metro-Goldwyn-Mayer. Transamerica was eventually reduced to three main product divisions: insurance, investments, and retirement planning. In July 1999, Transamerica CEO Frank C. Herringer announced that Aegon, the Netherlands-based insurer, would acquire the company. Transamerica Occidental merged into Transamerica Life Insurance Company on October 1, 2008.
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. However, this project was abandoned in 2023.
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Transamerica Corporation
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. The company is located in Baltimore, Maryland, with its subsidiary Transamerica Life Company headquartered in Cedar Rapids, Iowa; It has back offices Denver, Colorado; Harrison, New York; Toronto, Ontario; Philadelphia, Pennsylvania; and Knoxville, Tennessee. Additional affiliated offices are located throughout the United States. In 1999, it became an independent subsidiary of multinational company Aegon.
Contributions from the Transamerica Life Insurance Company and its affiliates fund the Transamerica Institute, a nonprofit, private foundation. The Transamerica Center for Retirement Studies is an operating division of Transamerica Institute.
In October 1904, A. P. Giannini founded the Bank of Italy in San Francisco. In October 1928, Giannini created a holding company that he named the Transamerica 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 $28 billion in 2025). The Transamerica Corporation original headquarters was located at 4 Columbus Avenue in San Francisco. The Bank of Italy later merged with Bank of America, Los Angeles in 1928, which was then renamed Bank of America in 1930.
In March 1930, Transamerica acquired Occidental Life Insurance Company, founded in 1906. At the time, Occidental had over $25 million in assets and over $150 million in life insurance policies in force. 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. Following the acquisition, Occidental was renamed Transamerica Occidental Life Insurance Company.
Over time, the company became a more diversified conglomerate that included Liberty Records, the film distributor United Artists, Trans International Airlines (bought from Kirk Kerkorian, later known as Transamerica Airlines) and Budget Rent a Car.
In 1972, the company completed construction of the Transamerica Pyramid skyscraper in San Francisco which served as its headquarters for many years. Although the company currently retains no offices in the building, the pyramid is still depicted in the company's updated logo (as of 2025) and marketing materials.
In the 1980s, Transamerica began to divest and focused exclusively on financial services. In 1981, Transamerica sold United Artists to Tracinda Corporation, a media company owned by Kirk Kerkorian which in turn also owned Metro-Goldwyn-Mayer. Transamerica was eventually reduced to three main product divisions: insurance, investments, and retirement planning. In July 1999, Transamerica CEO Frank C. Herringer announced that Aegon, the Netherlands-based insurer, would acquire the company. Transamerica Occidental merged into Transamerica Life Insurance Company on October 1, 2008.
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. However, this project was abandoned in 2023.