Multi-jurisdictional governance
Transamerica Life Bermuda is incorporated in Bermuda, a stable and globally respected financial hub with a strong record of compliance and transparency. It is also subject to the European Union’s Solvency II regulatory regime and has “qualified jurisdiction” status from the National Association of Insurance Commissioners (NAIC)#.
Our operations are governed prudently to meet the respective statutory and solvency requirements of multiple regulating authorities:
- Bermuda Monetary Authority
- Insurance Authority of Hong Kong
- Monetary Authority of Singapore
Our operations are also backed by the committed financial support of Transamerica Life Insurance Company, a subsidiary of Aegon, which offers an array of innovative financial products and services in the U.S.
# The NAIC is the standard-setting and regulatory support organisation in the United States of America (U.S.), created and governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories.
Here are the latest materials providing further insight into how we uphold our prudent governance.
Fair Dealing
Transamerica Life Bermuda is fully committed to upholding the highest standards of fair dealing and treating our customers and stakeholders fairly through the underlying principles:
- Making fair dealing our core culture that guides how we serve our customers and distributors,
- Offering and tailoring products that are suitable for our target customer segments’ needs, and marketing them responsibly,
- Cultivating positive long-term relationships with our distributors and being committed to working together to ensure quality advice and suitable recommendations for our customers,
- Being clear and timely in all our interactions with our distributors and customers regarding their financial goals, and
- Responding timely and honestly to our customers’ needs, requests, and feedback in a clear and transparent manner.
Find out more about the Monetary Authority of Singapore Fair Dealing Guidelines. Your feedback will be reviewed independently and fairly. Please contact our Customer Service Team through the “Enquiry Form” section and provide the policy number and personal identification verification as needed.
If you believe that your concerns have not been addressed satisfactorily despite our best efforts, you may consider reaching out to The Financial Industry Disputes Resolution Centre Ltd (FIDReC) at https://www.fidrec.com.sg.