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Company: Transamerica Financial Life Insurance Company
Current Parent Company:
Aegon
Parent at the Time of the Penalty Announcement:
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Penalty: $1,345,136
Year: 2018
Date: July 2, 2018
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: Transamerica paid restitution of $582,436 to New York policyholders and paid a civil penalty of $762,700 for insurance violations relating to disclosure and other practices.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
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:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.