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Violation Tracker Individual Record

Company: Transamerica Life Insurance Company
Current Parent Company: Aegon
Penalty: $137,000
Year: 2020
Date: September 8, 2020
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Transamerica agreed to pay $137,000 in settlement of allegations it issued a group life insurance policy to a policemen’s benevolent association and superior officers association which improperly permitted premium to be paid from funds contributed by insured members.
Level of Government: state
Action Type: agency action
Agency: New Jersey Department of Banking & Insurance
Civil or Criminal Case: civil
Facility State: New Jersey
HQ Country of Current Parent: Netherlands
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.